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12584 7468 17369 15797 14397 10000 16749 10000 10686 10703 9120 13217 16881 10402 15505 16773 9211 47209 10355 54056 35368 15457 19711 15644 22536 13911 44438 12431 16757 11784 9954 10000 9153 9994 11784 18377 18464 12719 12580 28278 9203 17871 17862 12404 12004 28754 19930 45739 18791 32703 15587 11795 12377 11570 29612 10000 12728 9171 9346 12937 10718 17252 8261 9458 12432 19445 16307 21794 11892 12271 20534 21315 11884 10000 9747 24225 11116 13827 10000 6666 12093 8037 10415 18761 19190 17106 18351 8468 0000844779 false N-1A N-CSR BlackRock Funds 2025-05-31 BlackRock Advantage International Fund Institutional Shares BROIX This annual shareholder report contains important information about BlackRock Advantage International Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>54</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.50<span>%</span></td> </tr> </table> 54 0.0050 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned 16.48%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI EAFE Index, returned 13.33%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund delivered strong positive absolute performance during a period of heightened geopolitical tensions and market volatility. In regional and country terms, positive contributions were led by the Fund’s exposure to Japan where equities were boosted by structural reforms. Exposure to European financials also contributed meaningfully as banks in the region benefited from higher interest rates. This positioning was driven by sentiment insights, in particular those looking at broker reports and company executive views as these highly responsive measures proved adept at positioning the portfolio against a rapidly changing market backdrop. Quality-related measures also proved additive, most notably those looking at company balance sheets. Finally, macro thematic insights drove positive positioning within industrials, specifically in companies positioned to benefit from defense and aerospace spending increases amid rising geopolitical tensions.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Insights based on analyzing informed investor sentiment detracted modestly, most notably positioning within energy names as the sector broadly lagged with oil prices range-bound at relatively low levels. In addition, positioning in European healthcare companies weighed on return given disappointing obesity drug trial data results and increased competition among weight loss drug manufacturers.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div> <div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119612.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div> <div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.48</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.13</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.90</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI EAFE Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.33</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.42</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.1648 0.1313 0.0690 MSCI EAFE Index 0.1333 0.1142 0.0597 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>4,880,629,060</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">414</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>10,342,204</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 4880629060 414 10342204 1.13 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Geographic allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">23.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Italy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest countries are presented. Additional countries are found in Other.</div> </td> </tr> </table> 0.230 0.140 0.109 0.105 0.072 0.060 0.056 0.044 0.027 0.026 0.110 0.029 -0.008 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (a)Excludes short-term securities. 0.027 0.022 0.022 0.019 0.015 0.013 0.013 0.013 0.012 0.012 BlackRock Advantage International Fund Investor A Shares BROAX This annual shareholder report contains important information about BlackRock Advantage International Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>82</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.76<span>%</span></td> </tr> </table> 82 0.0076 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned 16.14%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI EAFE Index, returned 13.33%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund delivered strong positive absolute performance during a period of heightened geopolitical tensions and market volatility. In regional and country terms, positive contributions were led by the Fund’s exposure to Japan where equities were boosted by structural reforms. Exposure to European financials also contributed meaningfully as banks in the region benefited from higher interest rates. This positioning was driven by sentiment insights, in particular those looking at broker reports and company executive views as these highly responsive measures proved adept at positioning the portfolio against a rapidly changing market backdrop. Quality-related measures also proved additive, most notably those looking at company balance sheets. Finally, macro thematic insights drove positive positioning within industrials, specifically in companies positioned to benefit from defense and aerospace spending increases amid rising geopolitical tensions.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Insights based on analyzing informed investor sentiment detracted modestly, most notably positioning within energy names as the sector broadly lagged with oil prices range-bound at relatively low levels. In addition, positioning in European healthcare companies weighed on return given disappointing obesity drug trial data results and increased competition among weight loss drug manufacturers.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119656.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.84</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.62</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.05</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.63</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.04</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI EAFE Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.33</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.42</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.1614 0.1284 0.0662 Investor A Shares (with sales charge) 0.1005 0.1163 0.0604 MSCI EAFE Index 0.1333 0.1142 0.0597 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>4,880,629,060</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">414</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>10,342,204</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 4880629060 414 10342204 1.13 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Geographic allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">23.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Italy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest countries are presented. Additional countries are found in Other.</div> </td> </tr> </table> 0.230 0.140 0.109 0.105 0.072 0.060 0.056 0.044 0.027 0.026 0.110 0.029 -0.008 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (a)Excludes short-term securities. 0.027 0.022 0.022 0.019 0.015 0.013 0.013 0.013 0.012 0.012 BlackRock Advantage International Fund Investor C Shares BROCX This annual shareholder report contains important information about BlackRock Advantage International Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>161</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.50<span>%</span></td> </tr> </table> 161 0.0150 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned 15.32%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI EAFE Index, returned 13.33%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund delivered strong positive absolute performance during a period of heightened geopolitical tensions and market volatility. In regional and country terms, positive contributions were led by the Fund’s exposure to Japan where equities were boosted by structural reforms. Exposure to European financials also contributed meaningfully as banks in the region benefited from higher interest rates. This positioning was driven by sentiment insights, in particular those looking at broker reports and company executive views as these highly responsive measures proved adept at positioning the portfolio against a rapidly changing market backdrop. Quality-related measures also proved additive, most notably those looking at company balance sheets. Finally, macro thematic insights drove positive positioning within industrials, specifically in companies positioned to benefit from defense and aerospace spending increases amid rising geopolitical tensions.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Insights based on analyzing informed investor sentiment detracted modestly, most notably positioning within energy names as the sector broadly lagged with oil prices range-bound at relatively low levels. In addition, positioning in European healthcare companies weighed on return given disappointing obesity drug trial data results and increased competition among weight loss drug manufacturers.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119700.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.01</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.01</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI EAFE Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.33</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.42</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares 0.1532 0.1201 0.0597 Investor C Shares (with sales charge) 0.1432 0.1201 0.0597 MSCI EAFE Index 0.1333 0.1142 0.0597 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>4,880,629,060</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">414</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>10,342,204</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 4880629060 414 10342204 1.13 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Geographic allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">23.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Italy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest countries are presented. Additional countries are found in Other.</div> </td> </tr> </table> 0.230 0.140 0.109 0.105 0.072 0.060 0.056 0.044 0.027 0.026 0.110 0.029 -0.008 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (a)Excludes short-term securities. 0.027 0.022 0.022 0.019 0.015 0.013 0.013 0.013 0.012 0.012 BlackRock Advantage International Fund Class K Shares BROKX This annual shareholder report contains important information about BlackRock Advantage International Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>49</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.45<span>%</span></td> </tr> </table> 49 0.0045 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned 16.58%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI EAFE Index, returned 13.33%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund delivered strong positive absolute performance during a period of heightened geopolitical tensions and market volatility. In regional and country terms, positive contributions were led by the Fund’s exposure to Japan where equities were boosted by structural reforms. Exposure to European financials also contributed meaningfully as banks in the region benefited from higher interest rates. This positioning was driven by sentiment insights, in particular those looking at broker reports and company executive views as these highly responsive measures proved adept at positioning the portfolio against a rapidly changing market backdrop. Quality-related measures also proved additive, most notably those looking at company balance sheets. Finally, macro thematic insights drove positive positioning within industrials, specifically in companies positioned to benefit from defense and aerospace spending increases amid rising geopolitical tensions.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Insights based on analyzing informed investor sentiment detracted modestly, most notably positioning within energy names as the sector broadly lagged with oil prices range-bound at relatively low levels. In addition, positioning in European healthcare companies weighed on return given disappointing obesity drug trial data results and increased competition among weight loss drug manufacturers.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119524.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.19</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.94</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI EAFE Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.33</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.42</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.1658 0.1319 0.0694 MSCI EAFE Index 0.1333 0.1142 0.0597 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>4,880,629,060</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">414</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>10,342,204</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 4880629060 414 10342204 1.13 2018-01-25 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Geographic allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">23.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Italy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest countries are presented. Additional countries are found in Other.</div> </td> </tr> </table> 0.230 0.140 0.109 0.105 0.072 0.060 0.056 0.044 0.027 0.026 0.110 0.029 -0.008 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(a)Excludes short-term securities. 0.027 0.022 0.022 0.019 0.015 0.013 0.013 0.013 0.012 0.012 BlackRock Advantage International Fund Class R Shares BGORX This annual shareholder report contains important information about BlackRock Advantage International Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>108</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.00<span>%</span></td> </tr> </table> 108 0.0100 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class R Shares returned 15.90%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI EAFE Index, returned 13.33%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund delivered strong positive absolute performance during a period of heightened geopolitical tensions and market volatility. In regional and country terms, positive contributions were led by the Fund’s exposure to Japan where equities were boosted by structural reforms. Exposure to European financials also contributed meaningfully as banks in the region benefited from higher interest rates. This positioning was driven by sentiment insights, in particular those looking at broker reports and company executive views as these highly responsive measures proved adept at positioning the portfolio against a rapidly changing market backdrop. Quality-related measures also proved additive, most notably those looking at company balance sheets. Finally, macro thematic insights drove positive positioning within industrials, specifically in companies positioned to benefit from defense and aerospace spending increases amid rising geopolitical tensions.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Insights based on analyzing informed investor sentiment detracted modestly, most notably positioning within energy names as the sector broadly lagged with oil prices range-bound at relatively low levels. In addition, positioning in European healthcare companies weighed on return given disappointing obesity drug trial data results and increased competition among weight loss drug manufacturers.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119568.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class R Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.90</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.56</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI EAFE Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.33</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.42</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class R Shares 0.1590 0.1256 0.0632 MSCI EAFE Index 0.1333 0.1142 0.0597 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>4,880,629,060</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">414</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>10,342,204</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">113<span>%</span></td> </tr> </table> 4880629060 414 10342204 1.13 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Geographic allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Country</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of<br/>Net Assets</td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Japan</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">23.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United Kingdom</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Germany</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">France</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">United States</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Switzerland</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Netherlands</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Italy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sweden</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest countries are presented. Additional countries are found in Other.</div> </td> </tr> </table> 0.230 0.140 0.109 0.105 0.072 0.060 0.056 0.044 0.027 0.026 0.110 0.029 -0.008 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SAP SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Novartis AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ASML Holding NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Roche Holding AG, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AstraZeneca PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ABB Ltd., Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Commonwealth Bank of Australia</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Safran SA</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Deutsche Telekom AG, Registered Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (a)Excludes short-term securities. 0.027 0.022 0.022 0.019 0.015 0.013 0.013 0.013 0.012 0.012 BlackRock Advantage Large Cap Growth Fund Institutional Shares CMVIX This annual shareholder report contains important information about BlackRock Advantage Large Cap Growth Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>68</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.62<span>%</span></td> </tr> </table> 68 0.0062 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned 17.86%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 17.62%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Smart money sentiment insights that track hedge fund positioning at prime brokers supported successful positioning in industrials as supply chain bottlenecks cleared and capital goods orders recovered. Text-based sentiment measures drawn from broker reports proved additive within consumer discretionary, where steady wage growth and renewed appetite for travel and leisure kept spending resilient. A macro insight that monitors private market equity offering activity contributed in financials, benefiting returns as capital raising picked up on improved market sentiment during the spring rally.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Traditional valuation measures evaluating company sales relative to enterprise value struggled within healthcare, as valuation-driven stocks lagged when the market rotated toward higher-growth narratives. Sentiment insights that compare bond market default risk with equity risk premiums underperformed in information technology, misreading the sector’s artificial intelligence-led advance while bond market credit spreads stayed wide. Finally, a macro model designed to block out short-term sentiment swings detracted in energy as volatile oil prices rendered its mean reversion signal ineffective.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119392.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.86</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.43</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.62</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">16.08</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.1786 0.1612 0.1443 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Growth Index 0.1762 0.1769 0.1608 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,409,328,664</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">150</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,641,969</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">149<span>%</span></td> </tr> </table> 1409328664 150 6641969 1.49 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">48.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.489 0.140 0.123 0.079 0.079 0.036 0.035 0.004 0.004 0.001 0.009 0.001 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.093 0.077 0.076 0.051 0.049 0.048 0.032 0.028 0.023 0.023 BlackRock Advantage Large Cap Growth Fund Investor A Shares BMCAX This annual shareholder report contains important information about BlackRock Advantage Large Cap Growth Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>95</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.87<span>%</span></td> </tr> </table> 95 0.0087 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned 17.58%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 17.62%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Smart money sentiment insights that track hedge fund positioning at prime brokers supported successful positioning in industrials as supply chain bottlenecks cleared and capital goods orders recovered. Text-based sentiment measures drawn from broker reports proved additive within consumer discretionary, where steady wage growth and renewed appetite for travel and leisure kept spending resilient. A macro insight that monitors private market equity offering activity contributed in financials, benefiting returns as capital raising picked up on improved market sentiment during the spring rally.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Traditional valuation measures evaluating company sales relative to enterprise value struggled within healthcare, as valuation-driven stocks lagged when the market rotated toward higher-growth narratives. Sentiment insights that compare bond market default risk with equity risk premiums underperformed in information technology, misreading the sector’s artificial intelligence-led advance while bond market credit spreads stayed wide. Finally, a macro model designed to block out short-term sentiment swings detracted in energy as volatile oil prices rendered its mean reversion signal ineffective.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119436.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.83</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.13</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.41</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.59</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.51</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.62</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">16.08</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.1758 0.1583 0.1413 Investor A Shares (with sales charge) 0.1141 0.1459 0.1351 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Growth Index 0.1762 0.1769 0.1608 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,409,328,664</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">150</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,641,969</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">149<span>%</span></td> </tr> </table> 1409328664 150 6641969 1.49 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">48.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.489 0.140 0.123 0.079 0.079 0.036 0.035 0.004 0.004 0.001 0.009 0.001 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.093 0.077 0.076 0.051 0.049 0.048 0.032 0.028 0.023 0.023 BlackRock Advantage Large Cap Growth Fund Investor C Shares BMCCX This annual shareholder report contains important information about BlackRock Advantage Large Cap Growth Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>176</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.62<span>%</span></td> </tr> </table> 176 0.0162 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned 16.71%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 17.62%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Smart money sentiment insights that track hedge fund positioning at prime brokers supported successful positioning in industrials as supply chain bottlenecks cleared and capital goods orders recovered. Text-based sentiment measures drawn from broker reports proved additive within consumer discretionary, where steady wage growth and renewed appetite for travel and leisure kept spending resilient. A macro insight that monitors private market equity offering activity contributed in financials, benefiting returns as capital raising picked up on improved market sentiment during the spring rally.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Traditional valuation measures evaluating company sales relative to enterprise value struggled within healthcare, as valuation-driven stocks lagged when the market rotated toward higher-growth narratives. Sentiment insights that compare bond market default risk with equity risk premiums underperformed in information technology, misreading the sector’s artificial intelligence-led advance while bond market credit spreads stayed wide. Finally, a macro model designed to block out short-term sentiment swings detracted in energy as volatile oil prices rendered its mean reversion signal ineffective.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119480.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.71</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.43</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.43</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.62</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">16.08</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares 0.1671 0.1497 0.1343 Investor C Shares (with sales charge) 0.1581 0.1497 0.1343 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Growth Index 0.1762 0.1769 0.1608 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,409,328,664</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">150</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,641,969</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">149<span>%</span></td> </tr> </table> 1409328664 150 6641969 1.49 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">48.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.489 0.140 0.123 0.079 0.079 0.036 0.035 0.004 0.004 0.001 0.009 0.001 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.093 0.077 0.076 0.051 0.049 0.048 0.032 0.028 0.023 0.023 BlackRock Advantage Large Cap Growth Fund Class K Shares BMCKX This annual shareholder report contains important information about BlackRock Advantage Large Cap Growth Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>62</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.57<span>%</span></td> </tr> </table> 62 0.0057 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned 17.96%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 17.62%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Smart money sentiment insights that track hedge fund positioning at prime brokers supported successful positioning in industrials as supply chain bottlenecks cleared and capital goods orders recovered. Text-based sentiment measures drawn from broker reports proved additive within consumer discretionary, where steady wage growth and renewed appetite for travel and leisure kept spending resilient. A macro insight that monitors private market equity offering activity contributed in financials, benefiting returns as capital raising picked up on improved market sentiment during the spring rally.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Traditional valuation measures evaluating company sales relative to enterprise value struggled within healthcare, as valuation-driven stocks lagged when the market rotated toward higher-growth narratives. Sentiment insights that compare bond market default risk with equity risk premiums underperformed in information technology, misreading the sector’s artificial intelligence-led advance while bond market credit spreads stayed wide. Finally, a macro model designed to block out short-term sentiment swings detracted in energy as volatile oil prices rendered its mean reversion signal ineffective.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119304.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.96</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.17</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.38</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.62</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">16.08</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.1796 0.1617 0.1438 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Growth Index 0.1762 0.1769 0.1608 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,409,328,664</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">150</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,641,969</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">149<span>%</span></td> </tr> </table> 1409328664 150 6641969 1.49 2018-01-25 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">48.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.489 0.140 0.123 0.079 0.079 0.036 0.035 0.004 0.004 0.001 0.009 0.001 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.093 0.077 0.076 0.051 0.049 0.048 0.032 0.028 0.023 0.023 BlackRock Advantage Large Cap Growth Fund Class R Shares BMCRX This annual shareholder report contains important information about BlackRock Advantage Large Cap Growth Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>122</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.12<span>%</span></td> </tr> </table> 122 0.0112 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class R Shares returned 17.29%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 17.62%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Smart money sentiment insights that track hedge fund positioning at prime brokers supported successful positioning in industrials as supply chain bottlenecks cleared and capital goods orders recovered. Text-based sentiment measures drawn from broker reports proved additive within consumer discretionary, where steady wage growth and renewed appetite for travel and leisure kept spending resilient. A macro insight that monitors private market equity offering activity contributed in financials, benefiting returns as capital raising picked up on improved market sentiment during the spring rally.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Traditional valuation measures evaluating company sales relative to enterprise value struggled within healthcare, as valuation-driven stocks lagged when the market rotated toward higher-growth narratives. Sentiment insights that compare bond market default risk with equity risk premiums underperformed in information technology, misreading the sector’s artificial intelligence-led advance while bond market credit spreads stayed wide. Finally, a macro model designed to block out short-term sentiment swings detracted in energy as volatile oil prices rendered its mean reversion signal ineffective.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119348.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class R Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.29</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.55</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.82</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.62</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">16.08</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class R Shares 0.1729 0.1555 0.1382 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Growth Index 0.1762 0.1769 0.1608 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,409,328,664</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">150</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,641,969</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">149<span>%</span></td> </tr> </table> 1409328664 150 6641969 1.49 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">48.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.489 0.140 0.123 0.079 0.079 0.036 0.035 0.004 0.004 0.001 0.009 0.001 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tesla, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Alphabet, Inc., Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Costco Wholesale Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.093 0.077 0.076 0.051 0.049 0.048 0.032 0.028 0.023 0.023 BlackRock Advantage Small Cap Core Fund Institutional Shares BDSIX This annual shareholder report contains important information about BlackRock Advantage Small Cap Core Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>50</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.50<span>%</span></td> </tr> </table> 50 0.0050 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned 0.21%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 2000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index returned 1.19%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Fundamental quality measures that favor founder-led companies drove gains within financials, the Fund’s strongest contributor in sector terms. Sentiment insights that track persistent short-selling activity and seek to align with “smart” sellers added to returns in industrials, helping to identify companies benefiting from improving order flows as supply chain pressures eased. Fundamental insights based on high research and development spending relative to stock price contributed in information technology where smaller software and services firms continued to capitalize on demand driven by innovation.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Fundamental measures that favor companies trading at low sales-to-enterprise-value ratios detracted in materials, where value-driven stock narratives remained under pressure. Another valuation insight that rewards high cash flow generation relative to enterprise value underperformed in energy, failing to offset the sector’s broad weakness. A macro signal that seeks to block out short-term sentiment swings struggled in consumer discretionary during the sector’s late-period downturn. Finally, the Fund employed derivatives, such as future’s contracts, which marginally detracted from results.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119172.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">0.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.74</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 2000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.19</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">6.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.0021 0.0974 0.0747 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 2000® Index 0.0119 0.0964 0.0664 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>3,967,156,900</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">786</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>15,422,725</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">88<span>%</span></td> </tr> </table> 3967156900 786 15422725 0.88 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sprouts Farmers Market, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">CubeSmart</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ExlService Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Houlihan Lokey, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Primoris Services Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">MasTec, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">New Jersey Resources Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Enova International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Elastic NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.182 0.169 0.169 0.136 0.105 0.060 0.041 0.037 0.037 0.028 0.024 0.042 -0.030 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sprouts Farmers Market, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">CubeSmart</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ExlService Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Houlihan Lokey, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Primoris Services Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">MasTec, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">New Jersey Resources Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Enova International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Elastic NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.016 0.013 0.008 0.007 0.007 0.007 0.006 0.006 0.006 0.006 BlackRock Advantage Small Cap Core Fund Investor A Shares BDSAX This annual shareholder report contains important information about BlackRock Advantage Small Cap Core Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>75</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.75<span>%</span></td> </tr> </table> 75 0.0075 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned (0.06)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 2000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index returned 1.19%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Fundamental quality measures that favor founder-led companies drove gains within financials, the Fund’s strongest contributor in sector terms. Sentiment insights that track persistent short-selling activity and seek to align with “smart” sellers added to returns in industrials, helping to identify companies benefiting from improving order flows as supply chain pressures eased. Fundamental insights based on high research and development spending relative to stock price contributed in information technology where smaller software and services firms continued to capitalize on demand driven by innovation.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Fundamental measures that favor companies trading at low sales-to-enterprise-value ratios detracted in materials, where value-driven stock narratives remained under pressure. Another valuation insight that rewards high cash flow generation relative to enterprise value underperformed in energy, failing to offset the sector’s broad weakness. A macro signal that seeks to block out short-term sentiment swings struggled in consumer discretionary during the sector’s late-period downturn. Finally, the Fund employed derivatives, such as future’s contracts, which marginally detracted from results.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119216.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(0.06</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.45</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.20</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(5.31</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.28</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.62</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 2000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.19</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">6.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares -0.0006 0.0945 0.0720 Investor A Shares (with sales charge) -0.0531 0.0828 0.0662 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 2000® Index 0.0119 0.0964 0.0664 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>3,967,156,900</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">786</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>15,422,725</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">88<span>%</span></td> </tr> </table> 3967156900 786 15422725 0.88 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sprouts Farmers Market, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">CubeSmart</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ExlService Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Houlihan Lokey, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Primoris Services Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">MasTec, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">New Jersey Resources Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Enova International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Elastic NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.182 0.169 0.169 0.136 0.105 0.060 0.041 0.037 0.037 0.028 0.024 0.042 -0.030 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sprouts Farmers Market, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">CubeSmart</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ExlService Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Houlihan Lokey, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Primoris Services Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">MasTec, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">New Jersey Resources Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Enova International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Elastic NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.016 0.013 0.008 0.007 0.007 0.007 0.006 0.006 0.006 0.006 BlackRock Advantage Small Cap Core Fund Investor C Shares BDSCX This annual shareholder report contains important information about BlackRock Advantage Small Cap Core Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>149</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.50<span>%</span></td> </tr> </table> 149 0.0150 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned (0.82)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 2000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index returned 1.19%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Fundamental quality measures that favor founder-led companies drove gains within financials, the Fund’s strongest contributor in sector terms. Sentiment insights that track persistent short-selling activity and seek to align with “smart” sellers added to returns in industrials, helping to identify companies benefiting from improving order flows as supply chain pressures eased. Fundamental insights based on high research and development spending relative to stock price contributed in information technology where smaller software and services firms continued to capitalize on demand driven by innovation.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Fundamental measures that favor companies trading at low sales-to-enterprise-value ratios detracted in materials, where value-driven stock narratives remained under pressure. Another valuation insight that rewards high cash flow generation relative to enterprise value underperformed in energy, failing to offset the sector’s broad weakness. A macro signal that seeks to block out short-term sentiment swings struggled in consumer discretionary during the sector’s late-period downturn. Finally, the Fund employed derivatives, such as future’s contracts, which marginally detracted from results.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119260.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(0.82</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.55</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(1.82</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.55</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 2000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.19</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">6.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares -0.0082 0.0865 0.0655 Investor C Shares (with sales charge) -0.0182 0.0865 0.0655 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 2000® Index 0.0119 0.0964 0.0664 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>3,967,156,900</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">786</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>15,422,725</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">88<span>%</span></td> </tr> </table> 3967156900 786 15422725 0.88 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sprouts Farmers Market, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">CubeSmart</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ExlService Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Houlihan Lokey, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Primoris Services Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">MasTec, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">New Jersey Resources Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Enova International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Elastic NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.182 0.169 0.169 0.136 0.105 0.060 0.041 0.037 0.037 0.028 0.024 0.042 -0.030 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sprouts Farmers Market, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">CubeSmart</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ExlService Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Houlihan Lokey, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Primoris Services Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">MasTec, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">New Jersey Resources Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Enova International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Elastic NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.016 0.013 0.008 0.007 0.007 0.007 0.006 0.006 0.006 0.006 BlackRock Advantage Small Cap Core Fund Class K Shares BDSKX This annual shareholder report contains important information about BlackRock Advantage Small Cap Core Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>45</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.45<span>%</span></td> </tr> </table> 45 0.0045 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned 0.25%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 2000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index returned 1.19%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Fundamental quality measures that favor founder-led companies drove gains within financials, the Fund’s strongest contributor in sector terms. Sentiment insights that track persistent short-selling activity and seek to align with “smart” sellers added to returns in industrials, helping to identify companies benefiting from improving order flows as supply chain pressures eased. Fundamental insights based on high research and development spending relative to stock price contributed in information technology where smaller software and services firms continued to capitalize on demand driven by innovation.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Fundamental measures that favor companies trading at low sales-to-enterprise-value ratios detracted in materials, where value-driven stock narratives remained under pressure. Another valuation insight that rewards high cash flow generation relative to enterprise value underperformed in energy, failing to offset the sector’s broad weakness. A macro signal that seeks to block out short-term sentiment swings struggled in consumer discretionary during the sector’s late-period downturn. Finally, the Fund employed derivatives, such as future’s contracts, which marginally detracted from results.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119128.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">0.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.79</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.52</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 2000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.19</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">6.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.0025 0.0979 0.0752 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 2000® Index 0.0119 0.0964 0.0664 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>3,967,156,900</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">786</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>15,422,725</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">88<span>%</span></td> </tr> </table> 3967156900 786 15422725 0.88 2016-03-28 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sprouts Farmers Market, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">CubeSmart</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ExlService Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Houlihan Lokey, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Primoris Services Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">MasTec, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">New Jersey Resources Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Enova International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Elastic NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.182 0.169 0.169 0.136 0.105 0.060 0.041 0.037 0.037 0.028 0.024 0.042 -0.030 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Sprouts Farmers Market, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">CubeSmart</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">ExlService Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Houlihan Lokey, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Primoris Services Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">MasTec, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">New Jersey Resources Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Enova International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Elastic NV</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.016 0.013 0.008 0.007 0.007 0.007 0.006 0.006 0.006 0.006 BlackRock Commodity Strategies Fund Institutional Shares BICSX This annual shareholder report contains important information about BlackRock Commodity Strategies Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>74</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.72<span>%</span></td> </tr> </table> 74 0.0072 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned 5.40%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the Bloomberg Commodity Index Total Return<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">SM</sup> returned 1.69%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in commodity derivatives—which it uses to achieve exposure to physical commodities—contributed to absolute performance, as did its positions in gold stocks. The gold miners Agnico-Eagle Mines Ltd., Kinross Gold Corp., Wheaton Precious Metals Corp., Lundin Gold, Inc. and AngloGold Ashanti PLC were all among the top absolute performers thanks to the combination of rising gold prices and improving management of their operational costs. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s position in the diversified mining company Glencore PLC, which was hurt by weak coal prices and concerns about the impact of U.S. tariffs, was a leading detractor from absolute performance. The pharmaceutical company Novo Nordisk A/S, which the Fund holds as part of its clinical nutrition theme, also detracted. The shares fell due to intensifying competition in the market for GLP-1 weight loss drugs. The paper and packaging company Graphic Packaging Holding Co. was a further detractor, as a slowdown in e-commerce growth dampened demand.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10118996.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.40</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.91</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.53</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Bloomberg Commodity Index Total <span style="white-space: nowrap;">Return<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">SM</sup></span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.92</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.0540 0.1291 0.0453 MSCI All Country World Index 0.1365 0.1337 0.0925 Bloomberg Commodity Index Total ReturnSM 0.0169 0.1265 0.0192 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>621,905,258</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">182</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>3,514,241</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">106<span>%</span></td> </tr> </table> 621905258 182 3514241 1.06 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">37.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">50.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Nutrien Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Corteva, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Smurfit WestRock PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Packaging Corp. of America</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Agnico Eagle Mines Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Graphic Packaging Holding Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wheaton Precious Metals Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mosaic Co. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.370 0.125 0.508 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Nutrien Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Corteva, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Smurfit WestRock PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Packaging Corp. of America</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Agnico Eagle Mines Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Graphic Packaging Holding Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wheaton Precious Metals Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mosaic Co. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.044 0.035 0.024 0.021 0.016 0.016 0.013 0.013 0.013 0.013 BlackRock Commodity Strategies Fund Investor A Shares BCSAX This annual shareholder report contains important information about BlackRock Commodity Strategies Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>99</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.97<span>%</span></td> </tr> </table> 99 0.0097 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned 5.06%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the Bloomberg Commodity Index Total Return<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">SM</sup> returned 1.69%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in commodity derivatives—which it uses to achieve exposure to physical commodities—contributed to absolute performance, as did its positions in gold stocks. The gold miners Agnico-Eagle Mines Ltd., Kinross Gold Corp., Wheaton Precious Metals Corp., Lundin Gold, Inc. and AngloGold Ashanti PLC were all among the top absolute performers thanks to the combination of rising gold prices and improving management of their operational costs. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s position in the diversified mining company Glencore PLC, which was hurt by weak coal prices and concerns about the impact of U.S. tariffs, was a leading detractor from absolute performance. The pharmaceutical company Novo Nordisk A/S, which the Fund holds as part of its clinical nutrition theme, also detracted. The shares fell due to intensifying competition in the market for GLP-1 weight loss drugs. The paper and packaging company Graphic Packaging Holding Co. was a further detractor, as a slowdown in e-commerce growth dampened demand.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119040.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.06</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.61</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(0.45</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.41</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Bloomberg Commodity Index Total <span style="white-space: nowrap;">Return<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">SM</sup></span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.92</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.0506 0.1261 0.0425 Investor A Shares (with sales charge) -0.0045 0.1141 0.0369 MSCI All Country World Index 0.1365 0.1337 0.0925 Bloomberg Commodity Index Total ReturnSM 0.0169 0.1265 0.0192 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>621,905,258</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">182</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>3,514,241</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">106<span>%</span></td> </tr> </table> 621905258 182 3514241 1.06 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">37.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">50.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Nutrien Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Corteva, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Smurfit WestRock PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Packaging Corp. of America</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Agnico Eagle Mines Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Graphic Packaging Holding Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wheaton Precious Metals Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mosaic Co. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.370 0.125 0.508 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Nutrien Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Corteva, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Smurfit WestRock PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Packaging Corp. of America</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Agnico Eagle Mines Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Graphic Packaging Holding Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wheaton Precious Metals Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mosaic Co. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.044 0.035 0.024 0.021 0.016 0.016 0.013 0.013 0.013 0.013 BlackRock Commodity Strategies Fund Investor C Shares BCSCX This annual shareholder report contains important information about BlackRock Commodity Strategies Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>176</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.72<span>%</span></td> </tr> </table> 176 0.0172 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned 4.25%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the Bloomberg Commodity Index Total Return<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">SM</sup> returned 1.69%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in commodity derivatives—which it uses to achieve exposure to physical commodities—contributed to absolute performance, as did its positions in gold stocks. The gold miners Agnico-Eagle Mines Ltd., Kinross Gold Corp., Wheaton Precious Metals Corp., Lundin Gold, Inc. and AngloGold Ashanti PLC were all among the top absolute performers thanks to the combination of rising gold prices and improving management of their operational costs. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s position in the diversified mining company Glencore PLC, which was hurt by weak coal prices and concerns about the impact of U.S. tariffs, was a leading detractor from absolute performance. The pharmaceutical company Novo Nordisk A/S, which the Fund holds as part of its clinical nutrition theme, also detracted. The shares fell due to intensifying competition in the market for GLP-1 weight loss drugs. The paper and packaging company Graphic Packaging Holding Co. was a further detractor, as a slowdown in e-commerce growth dampened demand.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119084.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.78</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.78</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Bloomberg Commodity Index Total <span style="white-space: nowrap;">Return<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">SM</sup></span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.92</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares 0.0425 0.1178 0.0364 Investor C Shares (with sales charge) 0.0325 0.1178 0.0364 MSCI All Country World Index 0.1365 0.1337 0.0925 Bloomberg Commodity Index Total ReturnSM 0.0169 0.1265 0.0192 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>621,905,258</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">182</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>3,514,241</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">106<span>%</span></td> </tr> </table> 621905258 182 3514241 1.06 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">37.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">50.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Nutrien Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Corteva, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Smurfit WestRock PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Packaging Corp. of America</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Agnico Eagle Mines Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Graphic Packaging Holding Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wheaton Precious Metals Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mosaic Co. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.370 0.125 0.508 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Nutrien Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Corteva, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Smurfit WestRock PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Packaging Corp. of America</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Agnico Eagle Mines Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Graphic Packaging Holding Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wheaton Precious Metals Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mosaic Co. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.044 0.035 0.024 0.021 0.016 0.016 0.013 0.013 0.013 0.013 BlackRock Commodity Strategies Fund Class K Shares BCSKX This annual shareholder report contains important information about BlackRock Commodity Strategies Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>69</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.67<span>%</span></td> </tr> </table> 69 0.0067 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned 5.45%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the Bloomberg Commodity Index Total Return<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">SM</sup> returned 1.69%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in commodity derivatives—which it uses to achieve exposure to physical commodities—contributed to absolute performance, as did its positions in gold stocks. The gold miners Agnico-Eagle Mines Ltd., Kinross Gold Corp., Wheaton Precious Metals Corp., Lundin Gold, Inc. and AngloGold Ashanti PLC were all among the top absolute performers thanks to the combination of rising gold prices and improving management of their operational costs. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s position in the diversified mining company Glencore PLC, which was hurt by weak coal prices and concerns about the impact of U.S. tariffs, was a leading detractor from absolute performance. The pharmaceutical company Novo Nordisk A/S, which the Fund holds as part of its clinical nutrition theme, also detracted. The shares fell due to intensifying competition in the market for GLP-1 weight loss drugs. The paper and packaging company Graphic Packaging Holding Co. was a further detractor, as a slowdown in e-commerce growth dampened demand.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10118952.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.45</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.95</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.57</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Bloomberg Commodity Index Total <span style="white-space: nowrap;">Return<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">SM</sup></span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">1.92</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.0545 0.1295 0.0457 MSCI All Country World Index 0.1365 0.1337 0.0925 Bloomberg Commodity Index Total ReturnSM 0.0169 0.1265 0.0192 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>621,905,258</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">182</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>3,514,241</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">106<span>%</span></td> </tr> </table> 621905258 182 3514241 1.06 2018-01-25 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">37.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">50.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Nutrien Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Corteva, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Smurfit WestRock PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Packaging Corp. of America</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Agnico Eagle Mines Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Graphic Packaging Holding Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wheaton Precious Metals Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mosaic Co. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.370 0.125 0.508 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Nutrien Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Corteva, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Smurfit WestRock PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Packaging Corp. of America</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Agnico Eagle Mines Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Graphic Packaging Holding Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wheaton Precious Metals Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mosaic Co. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.044 0.035 0.024 0.021 0.016 0.016 0.013 0.013 0.013 0.013 BlackRock Energy Opportunities Fund Institutional Shares BACIX This annual shareholder report contains important information about BlackRock Energy Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>89</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.92<span>%</span></td> </tr> </table> 89 0.0092 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned (7.60)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI World Energy Index returned (7.34)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in energy distribution companies were notable contributors to absolute performance. The portfolio’s positions in this area were focused on companies with greater exposure to natural gas, liquid natural gas (“LNG”), and capabilities in the Permian Basin. Overweight positions in the distribution companies Williams Cos., TC Energy Corp., and Pembina Pipeline Corp. all contributed positively, as did the LNG exporter Cheniere Energy, Inc. Valuations for energy infrastructure assets generally increased due to expectations for rising U.S. power demand, as well as their lower sensitivity to crude oil prices. The Fund’s position in the uranium supplier Cameco Corp. also benefited from the outlook for growing power demand, together with anticipation of increased investment in nuclear power.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Holdings in oil-related stocks were among the largest detractors. Oil prices fell sharply due to rising OPEC production and concerns that slower global growth would crimp demand. The Fund’s position in BP PLC detracted from returns, as did holdings in integrated energy companies such as Exxon Mobil Corp., Chevron Corp., and Total Energies SE. Holdings in energy exploration and production companies posted negative returns, as well. A position in ConocoPhillips, which was pressured by its bid for a competitor, also hurt absolute performance.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10118820.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(7.60</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.18</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">2.83</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI World Energy Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(7.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares -0.0760 0.1818 0.0283 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI World Energy Index -0.0734 0.1773 0.0366 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>264,678,340</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">27</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,294,865</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">66<span>%</span></td> </tr> </table> 264678340 27 2294865 0.66 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oil, Gas &amp; Consumable Fuels</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">95.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy Equipment &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chevron Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TotalEnergies SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canadian Natural Resources Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cheniere Energy, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TC Energy Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Williams Cos., Inc. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">EOG Resources, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.958 0.028 0.007 0.007 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chevron Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TotalEnergies SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canadian Natural Resources Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cheniere Energy, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TC Energy Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Williams Cos., Inc. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">EOG Resources, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.196 0.105 0.097 0.071 0.042 0.041 0.041 0.041 0.038 0.037 BlackRock Energy Opportunities Fund Investor A Shares BACAX This annual shareholder report contains important information about BlackRock Energy Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>125</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.30<span>%</span></td> </tr> </table> 125 0.0130 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned (8.00)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI World Energy Index returned (7.34)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in energy distribution companies were notable contributors to absolute performance. The portfolio’s positions in this area were focused on companies with greater exposure to natural gas, liquid natural gas (“LNG”), and capabilities in the Permian Basin. Overweight positions in the distribution companies Williams Cos., TC Energy Corp., and Pembina Pipeline Corp. all contributed positively, as did the LNG exporter Cheniere Energy, Inc. Valuations for energy infrastructure assets generally increased due to expectations for rising U.S. power demand, as well as their lower sensitivity to crude oil prices. The Fund’s position in the uranium supplier Cameco Corp. also benefited from the outlook for growing power demand, together with anticipation of increased investment in nuclear power.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Holdings in oil-related stocks were among the largest detractors. Oil prices fell sharply due to rising OPEC production and concerns that slower global growth would crimp demand. The Fund’s position in BP PLC detracted from returns, as did holdings in integrated energy companies such as Exxon Mobil Corp., Chevron Corp., and Total Energies SE. Holdings in energy exploration and production companies posted negative returns, as well. A position in ConocoPhillips, which was pressured by its bid for a competitor, also hurt absolute performance.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10118864.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(8.00</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.70</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">2.40</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(12.83</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.44</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">1.85</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI World Energy Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(7.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares -0.0800 0.1770 0.0240 Investor A Shares (with sales charge) -0.1283 0.1644 0.0185 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI World Energy Index -0.0734 0.1773 0.0366 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>264,678,340</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">27</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,294,865</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">66<span>%</span></td> </tr> </table> 264678340 27 2294865 0.66 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oil, Gas &amp; Consumable Fuels</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">95.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy Equipment &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chevron Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TotalEnergies SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canadian Natural Resources Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cheniere Energy, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TC Energy Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Williams Cos., Inc. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">EOG Resources, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.958 0.028 0.007 0.007 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chevron Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TotalEnergies SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canadian Natural Resources Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cheniere Energy, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TC Energy Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Williams Cos., Inc. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">EOG Resources, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.196 0.105 0.097 0.071 0.042 0.041 0.041 0.041 0.038 0.037 BlackRock Energy Opportunities Fund Investor C Shares BACCX This annual shareholder report contains important information about BlackRock Energy Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>191</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">2.00<span>%</span></td> </tr> </table> 191 0.0200 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned (8.68)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI World Energy Index returned (7.34)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in energy distribution companies were notable contributors to absolute performance. The portfolio’s positions in this area were focused on companies with greater exposure to natural gas, liquid natural gas (“LNG”), and capabilities in the Permian Basin. Overweight positions in the distribution companies Williams Cos., TC Energy Corp., and Pembina Pipeline Corp. all contributed positively, as did the LNG exporter Cheniere Energy, Inc. Valuations for energy infrastructure assets generally increased due to expectations for rising U.S. power demand, as well as their lower sensitivity to crude oil prices. The Fund’s position in the uranium supplier Cameco Corp. also benefited from the outlook for growing power demand, together with anticipation of increased investment in nuclear power.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Holdings in oil-related stocks were among the largest detractors. Oil prices fell sharply due to rising OPEC production and concerns that slower global growth would crimp demand. The Fund’s position in BP PLC detracted from returns, as did holdings in integrated energy companies such as Exxon Mobil Corp., Chevron Corp., and Total Energies SE. Holdings in energy exploration and production companies posted negative returns, as well. A position in ConocoPhillips, which was pressured by its bid for a competitor, also hurt absolute performance.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10118908.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(8.68</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.85</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">1.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(9.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.85</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">1.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI World Energy Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(7.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">17.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares -0.0868 0.1685 0.0181 Investor C Shares (with sales charge) -0.0958 0.1685 0.0181 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI World Energy Index -0.0734 0.1773 0.0366 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>264,678,340</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">27</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,294,865</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">66<span>%</span></td> </tr> </table> 264678340 27 2294865 0.66 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oil, Gas &amp; Consumable Fuels</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">95.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy Equipment &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Other Assets Less Liabilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chevron Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TotalEnergies SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canadian Natural Resources Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cheniere Energy, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TC Energy Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Williams Cos., Inc. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">EOG Resources, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.958 0.028 0.007 0.007 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Exxon Mobil Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">19.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Shell PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Chevron Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TotalEnergies SE</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Canadian Natural Resources Ltd.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cheniere Energy, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">TC Energy Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Williams Cos., Inc. (The)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Kinder Morgan, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">EOG Resources, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.196 0.105 0.097 0.071 0.042 0.041 0.041 0.041 0.038 0.037 BlackRock Health Sciences Opportunities Portfolio Institutional Shares SHSSX This annual shareholder report contains important information about BlackRock Health Sciences Opportunities Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>82</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.84<span>%</span></td> </tr> </table> 82 0.0084 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned (5.77)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index returned (6.31)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Boston Scientific Corp. was the largest contributor to the Fund’s absolute performance. Shares of the biotech company rallied on the strength of revenue and earnings growth that exceeded analysts’ expectations. Abbott Laboratories also contributed to returns due to strong sales and earnings growth, particularly in its medical devices and diabetes care segments, as well as robust performance in diagnostics and emerging markets. Gilead Sciences, Inc. further contributed to Fund returns. The company delivered strong financial results with upbeat guidance, and it announced positive clinical trial results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">UnitedHealth Group Inc. was the largest detractor. The health insurer’s stock fell due to a combination of surging medical costs, the abrupt resignation of its chief executive officer, the withdrawal of its 2025 earnings guidance, and reports of a U.S. Department of Justice probe into potential Medicare fraud. Eli Lilly &amp; Co. also detracted from performance, primarily as a result of earnings misses and reduced guidance. Thermo Fisher Scientific Inc., which reduced its guidance due to ongoing weakness in China, macroeconomic headwinds, and the negative impact of new tariffs, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div> <div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119832.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div> <div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(5.77</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.72</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.46</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(6.31</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.44</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">7.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares -0.0577 0.0472 0.0746 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 3000® Health Care Index -0.0631 0.0544 0.0714 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,446,425,713</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">131</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>52,207,307</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">43<span>%</span></td> </tr> </table> 6446425713 131 52207307 0.43 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Equipment &amp; Supplies</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">29.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Biotechnology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">24.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Pharmaceuticals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Providers &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Life Sciences Tools &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.291 0.249 0.205 0.152 0.062 0.001 0.060 -0.020 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.089 0.067 0.060 0.054 0.044 0.041 0.040 0.033 0.033 0.029 BlackRock Health Sciences Opportunities Portfolio Service Shares SHISX This annual shareholder report contains important information about BlackRock Health Sciences Opportunities Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Service Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>112</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.15<span>%</span></td> </tr> </table> 112 0.0115 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Service Shares returned (6.08)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index returned (6.31)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Boston Scientific Corp. was the largest contributor to the Fund’s absolute performance. Shares of the biotech company rallied on the strength of revenue and earnings growth that exceeded analysts’ expectations. Abbott Laboratories also contributed to returns due to strong sales and earnings growth, particularly in its medical devices and diabetes care segments, as well as robust performance in diagnostics and emerging markets. Gilead Sciences, Inc. further contributed to Fund returns. The company delivered strong financial results with upbeat guidance, and it announced positive clinical trial results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">UnitedHealth Group Inc. was the largest detractor. The health insurer’s stock fell due to a combination of surging medical costs, the abrupt resignation of its chief executive officer, the withdrawal of its 2025 earnings guidance, and reports of a U.S. Department of Justice probe into potential Medicare fraud. Eli Lilly &amp; Co. also detracted from performance, primarily as a result of earnings misses and reduced guidance. Thermo Fisher Scientific Inc., which reduced its guidance due to ongoing weakness in China, macroeconomic headwinds, and the negative impact of new tariffs, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119964.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Service Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(6.08</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.40</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(6.31</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.44</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">7.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Service Shares -0.0608 0.0440 0.0714 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 3000® Health Care Index -0.0631 0.0544 0.0714 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,446,425,713</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">131</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>52,207,307</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">43<span>%</span></td> </tr> </table> 6446425713 131 52207307 0.43 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Equipment &amp; Supplies</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">29.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Biotechnology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">24.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Pharmaceuticals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Providers &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Life Sciences Tools &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.291 0.249 0.205 0.152 0.062 0.001 0.060 -0.020 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.089 0.067 0.060 0.054 0.044 0.041 0.040 0.033 0.033 0.029 BlackRock Health Sciences Opportunities Portfolio Investor A Shares SHSAX This annual shareholder report contains important information about BlackRock Health Sciences Opportunities Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>106</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.09<span>%</span></td> </tr> </table> 106 0.0109 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned (6.03)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index returned (6.31)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Boston Scientific Corp. was the largest contributor to the Fund’s absolute performance. Shares of the biotech company rallied on the strength of revenue and earnings growth that exceeded analysts’ expectations. Abbott Laboratories also contributed to returns due to strong sales and earnings growth, particularly in its medical devices and diabetes care segments, as well as robust performance in diagnostics and emerging markets. Gilead Sciences, Inc. further contributed to Fund returns. The company delivered strong financial results with upbeat guidance, and it announced positive clinical trial results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">UnitedHealth Group Inc. was the largest detractor. The health insurer’s stock fell due to a combination of surging medical costs, the abrupt resignation of its chief executive officer, the withdrawal of its 2025 earnings guidance, and reports of a U.S. Department of Justice probe into potential Medicare fraud. Eli Lilly &amp; Co. also detracted from performance, primarily as a result of earnings misses and reduced guidance. Thermo Fisher Scientific Inc., which reduced its guidance due to ongoing weakness in China, macroeconomic headwinds, and the negative impact of new tariffs, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119876.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(6.03</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.45</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.17</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(10.95</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.33</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.60</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(6.31</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.44</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">7.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares -0.0603 0.0445 0.0717 Investor A Shares (with sales charge) -0.1095 0.0333 0.0660 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 3000® Health Care Index -0.0631 0.0544 0.0714 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,446,425,713</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">131</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>52,207,307</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">43<span>%</span></td> </tr> </table> 6446425713 131 52207307 0.43 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Equipment &amp; Supplies</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">29.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Biotechnology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">24.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Pharmaceuticals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Providers &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Life Sciences Tools &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.291 0.249 0.205 0.152 0.062 0.001 0.060 -0.020 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.089 0.067 0.060 0.054 0.044 0.041 0.040 0.033 0.033 0.029 BlackRock Health Sciences Opportunities Portfolio Investor C Shares SHSCX This annual shareholder report contains important information about BlackRock Health Sciences Opportunities Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>179</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.85<span>%</span></td> </tr> </table> 179 0.0185 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned (6.73)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index returned (6.31)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Boston Scientific Corp. was the largest contributor to the Fund’s absolute performance. Shares of the biotech company rallied on the strength of revenue and earnings growth that exceeded analysts’ expectations. Abbott Laboratories also contributed to returns due to strong sales and earnings growth, particularly in its medical devices and diabetes care segments, as well as robust performance in diagnostics and emerging markets. Gilead Sciences, Inc. further contributed to Fund returns. The company delivered strong financial results with upbeat guidance, and it announced positive clinical trial results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">UnitedHealth Group Inc. was the largest detractor. The health insurer’s stock fell due to a combination of surging medical costs, the abrupt resignation of its chief executive officer, the withdrawal of its 2025 earnings guidance, and reports of a U.S. Department of Justice probe into potential Medicare fraud. Eli Lilly &amp; Co. also detracted from performance, primarily as a result of earnings misses and reduced guidance. Thermo Fisher Scientific Inc., which reduced its guidance due to ongoing weakness in China, macroeconomic headwinds, and the negative impact of new tariffs, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119920.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(6.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.67</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.55</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(7.57</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.67</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.55</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(6.31</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.44</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">7.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares -0.0673 0.0367 0.0655 Investor C Shares (with sales charge) -0.0757 0.0367 0.0655 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 3000® Health Care Index -0.0631 0.0544 0.0714 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,446,425,713</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">131</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>52,207,307</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">43<span>%</span></td> </tr> </table> 6446425713 131 52207307 0.43 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Equipment &amp; Supplies</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">29.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Biotechnology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">24.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Pharmaceuticals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Providers &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Life Sciences Tools &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.291 0.249 0.205 0.152 0.062 0.001 0.060 -0.020 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.089 0.067 0.060 0.054 0.044 0.041 0.040 0.033 0.033 0.029 BlackRock Health Sciences Opportunities Portfolio Class K Shares SHSKX This annual shareholder report contains important information about BlackRock Health Sciences Opportunities Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>73</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.75<span>%</span></td> </tr> </table> 73 0.0075 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned (5.71)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index returned (6.31)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Boston Scientific Corp. was the largest contributor to the Fund’s absolute performance. Shares of the biotech company rallied on the strength of revenue and earnings growth that exceeded analysts’ expectations. Abbott Laboratories also contributed to returns due to strong sales and earnings growth, particularly in its medical devices and diabetes care segments, as well as robust performance in diagnostics and emerging markets. Gilead Sciences, Inc. further contributed to Fund returns. The company delivered strong financial results with upbeat guidance, and it announced positive clinical trial results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">UnitedHealth Group Inc. was the largest detractor. The health insurer’s stock fell due to a combination of surging medical costs, the abrupt resignation of its chief executive officer, the withdrawal of its 2025 earnings guidance, and reports of a U.S. Department of Justice probe into potential Medicare fraud. Eli Lilly &amp; Co. also detracted from performance, primarily as a result of earnings misses and reduced guidance. Thermo Fisher Scientific Inc., which reduced its guidance due to ongoing weakness in China, macroeconomic headwinds, and the negative impact of new tariffs, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119744.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(5.71</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.52</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(6.31</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.44</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">7.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares -0.0571 0.0481 0.0752 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 3000® Health Care Index -0.0631 0.0544 0.0714 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,446,425,713</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">131</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>52,207,307</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">43<span>%</span></td> </tr> </table> 6446425713 131 52207307 0.43 2016-06-08 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Equipment &amp; Supplies</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">29.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Biotechnology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">24.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Pharmaceuticals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Providers &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Life Sciences Tools &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.291 0.249 0.205 0.152 0.062 0.001 0.060 -0.020 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.089 0.067 0.060 0.054 0.044 0.041 0.040 0.033 0.033 0.029 BlackRock Health Sciences Opportunities Portfolio Class R Shares BHSRX This annual shareholder report contains important information about BlackRock Health Sciences Opportunities Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>139</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.44<span>%</span></td> </tr> </table> 139 0.0144 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class R Shares returned (6.36)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index returned (6.31)%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Boston Scientific Corp. was the largest contributor to the Fund’s absolute performance. Shares of the biotech company rallied on the strength of revenue and earnings growth that exceeded analysts’ expectations. Abbott Laboratories also contributed to returns due to strong sales and earnings growth, particularly in its medical devices and diabetes care segments, as well as robust performance in diagnostics and emerging markets. Gilead Sciences, Inc. further contributed to Fund returns. The company delivered strong financial results with upbeat guidance, and it announced positive clinical trial results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">UnitedHealth Group Inc. was the largest detractor. The health insurer’s stock fell due to a combination of surging medical costs, the abrupt resignation of its chief executive officer, the withdrawal of its 2025 earnings guidance, and reports of a U.S. Department of Justice probe into potential Medicare fraud. Eli Lilly &amp; Co. also detracted from performance, primarily as a result of earnings misses and reduced guidance. Thermo Fisher Scientific Inc., which reduced its guidance due to ongoing weakness in China, macroeconomic headwinds, and the negative impact of new tariffs, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10119788.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class R Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(6.36</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.08</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Health Care Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(6.31</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">5.44</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">7.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class R Shares -0.0636 0.0408 0.0681 Russell 3000® Index 0.1312 0.1534 0.1221 Russell 3000® Health Care Index -0.0631 0.0544 0.0714 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,446,425,713</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">131</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>52,207,307</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">43<span>%</span></td> </tr> </table> 6446425713 131 52207307 0.43 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Equipment &amp; Supplies</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">29.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Biotechnology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">24.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Pharmaceuticals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care Providers &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Life Sciences Tools &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.291 0.249 0.205 0.152 0.062 0.001 0.060 -0.020 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Eli Lilly &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Boston Scientific Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AbbVie, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Abbott Laboratories</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">UnitedHealth Group, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Johnson &amp; Johnson</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Stryker Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amgen, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Intuitive Surgical, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Edwards Lifesciences Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.089 0.067 0.060 0.054 0.044 0.041 0.040 0.033 0.033 0.029 BlackRock High Equity Income Fund Institutional Shares BMCIX This annual shareholder report contains important information about BlackRock High Equity Income Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>87</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.85<span>%</span></td> </tr> </table> 87 0.0085 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned 4.06%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Value Index returned 8.91%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund utilizes an actively managed large-cap value approach that seeks to generate enhanced yield by combining dividend-paying equities with a single-stock covered call overlay. In doing so, the Fund utilizes derivatives known as equity-linked notes (“ELNs”), debt instruments with the potential for additional payouts tied to the return of a specific stock. The Fund’s primary objective is income generation, targeting a yield of around 8%, while investing in high-quality, attractively valued companies with a consistent dividend history.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Over the period, the use of ELNs had a positive impact on fund performance within the financials, industrials, consumer discretionary, healthcare, utilities, information technology, consumer staples, and communication services sectors.</div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The use of ELNs had a negative impact on fund performance within the energy, materials, and real estate sectors.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div> <div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120536.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div> <div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.06</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.94</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.93</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Value Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">8.91</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.02</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">8.60</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.0406 0.1194 0.0693 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Value Index 0.0891 0.1302 0.0860 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,795,170,680</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">180</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>14,049,604</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">130<span>%</span></td> </tr> </table> 1795170680 180 14049604 1.30 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(6.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Baxter International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Citigroup, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comcast Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cardinal Health, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">First Citizens BancShares, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">WPP PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd., Registered Shares, GDR</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SS&amp;C Technologies Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wells Fargo &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">JP Morgan Securities LLC (Wells Fargo &amp; Co.), Series N0Q2</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.206 0.161 0.126 0.119 0.087 0.072 0.069 0.059 0.051 0.038 0.028 0.050 -0.066 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Baxter International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Citigroup, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comcast Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cardinal Health, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">First Citizens BancShares, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">WPP PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd., Registered Shares, GDR</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SS&amp;C Technologies Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wells Fargo &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">JP Morgan Securities LLC (Wells Fargo &amp; Co.), Series N0Q2</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.021 0.020 0.020 0.019 0.017 0.017 0.016 0.015 0.015 0.013 BlackRock High Equity Income Fund Investor A Shares BMEAX This annual shareholder report contains important information about BlackRock High Equity Income Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>112</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.10<span>%</span></td> </tr> </table> 112 0.0110 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned 3.81%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Value Index returned 8.91%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund utilizes an actively managed large-cap value approach that seeks to generate enhanced yield by combining dividend-paying equities with a single-stock covered call overlay. In doing so, the Fund utilizes derivatives known as equity-linked notes (“ELNs”), debt instruments with the potential for additional payouts tied to the return of a specific stock. The Fund’s primary objective is income generation, targeting a yield of around 8%, while investing in high-quality, attractively valued companies with a consistent dividend history.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Over the period, the use of ELNs had a positive impact on fund performance within the financials, industrials, consumer discretionary, healthcare, utilities, information technology, consumer staples, and communication services sectors.</div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The use of ELNs had a negative impact on fund performance within the energy, materials, and real estate sectors.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120580.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(1.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.45</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.07</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Value Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">8.91</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.02</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">8.60</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.0381 0.1165 0.0664 Investor A Shares (with sales charge) -0.0164 0.1045 0.0607 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Value Index 0.0891 0.1302 0.0860 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,795,170,680</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">180</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>14,049,604</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">130<span>%</span></td> </tr> </table> 1795170680 180 14049604 1.30 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(6.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Baxter International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Citigroup, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comcast Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cardinal Health, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">First Citizens BancShares, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">WPP PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd., Registered Shares, GDR</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SS&amp;C Technologies Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wells Fargo &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">JP Morgan Securities LLC (Wells Fargo &amp; Co.), Series N0Q2</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.206 0.161 0.126 0.119 0.087 0.072 0.069 0.059 0.051 0.038 0.028 0.050 -0.066 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Baxter International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Citigroup, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comcast Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cardinal Health, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">First Citizens BancShares, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">WPP PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd., Registered Shares, GDR</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SS&amp;C Technologies Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wells Fargo &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">JP Morgan Securities LLC (Wells Fargo &amp; Co.), Series N0Q2</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.021 0.020 0.020 0.019 0.017 0.017 0.016 0.015 0.015 0.013 BlackRock High Equity Income Fund Investor C Shares BMECX This annual shareholder report contains important information about BlackRock High Equity Income Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>188</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.85<span>%</span></td> </tr> </table> 188 0.0185 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned 3.01%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Value Index returned 8.91%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund utilizes an actively managed large-cap value approach that seeks to generate enhanced yield by combining dividend-paying equities with a single-stock covered call overlay. In doing so, the Fund utilizes derivatives known as equity-linked notes (“ELNs”), debt instruments with the potential for additional payouts tied to the return of a specific stock. The Fund’s primary objective is income generation, targeting a yield of around 8%, while investing in high-quality, attractively valued companies with a consistent dividend history.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Over the period, the use of ELNs had a positive impact on fund performance within the financials, industrials, consumer discretionary, healthcare, utilities, information technology, consumer staples, and communication services sectors.</div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The use of ELNs had a negative impact on fund performance within the energy, materials, and real estate sectors.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div> <div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120624.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div> <div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.01</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.01</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">2.05</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.01</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Value Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">8.91</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.02</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">8.60</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares 0.0301 0.1081 0.0601 Investor C Shares (with sales charge) 0.0205 0.1081 0.0601 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Value Index 0.0891 0.1302 0.0860 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,795,170,680</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">180</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>14,049,604</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">130<span>%</span></td> </tr> </table> 1795170680 180 14049604 1.30 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(6.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Baxter International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Citigroup, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comcast Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cardinal Health, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">First Citizens BancShares, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">WPP PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd., Registered Shares, GDR</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SS&amp;C Technologies Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wells Fargo &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">JP Morgan Securities LLC (Wells Fargo &amp; Co.), Series N0Q2</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.206 0.161 0.126 0.119 0.087 0.072 0.069 0.059 0.051 0.038 0.028 0.050 -0.066 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Baxter International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Citigroup, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comcast Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cardinal Health, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">First Citizens BancShares, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">WPP PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd., Registered Shares, GDR</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SS&amp;C Technologies Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wells Fargo &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">JP Morgan Securities LLC (Wells Fargo &amp; Co.), Series N0Q2</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.021 0.020 0.020 0.019 0.017 0.017 0.016 0.015 0.015 0.013 BlackRock High Equity Income Fund Class K Shares BHEIX This annual shareholder report contains important information about BlackRock High Equity Income Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>82</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.80<span>%</span></td> </tr> </table> 82 0.0080 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned 4.11%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Value Index returned 8.91%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund utilizes an actively managed large-cap value approach that seeks to generate enhanced yield by combining dividend-paying equities with a single-stock covered call overlay. In doing so, the Fund utilizes derivatives known as equity-linked notes (“ELNs”), debt instruments with the potential for additional payouts tied to the return of a specific stock. The Fund’s primary objective is income generation, targeting a yield of around 8%, while investing in high-quality, attractively valued companies with a consistent dividend history.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Over the period, the use of ELNs had a positive impact on fund performance within the financials, industrials, consumer discretionary, healthcare, utilities, information technology, consumer staples, and communication services sectors.</div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The use of ELNs had a negative impact on fund performance within the energy, materials, and real estate sectors.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120668.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">4.11</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">11.98</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.95</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Value Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">8.91</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">13.02</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">8.60</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.0411 0.1198 0.0695 Russell 1000® Index 0.1373 0.1566 0.1258 Russell 1000® Value Index 0.0891 0.1302 0.0860 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>1,795,170,680</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">180</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>14,049,604</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">130<span>%</span></td> </tr> </table> 1795170680 180 14049604 1.30 2020-04-21 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(6.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Baxter International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Citigroup, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comcast Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cardinal Health, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">First Citizens BancShares, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">WPP PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd., Registered Shares, GDR</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SS&amp;C Technologies Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wells Fargo &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">JP Morgan Securities LLC (Wells Fargo &amp; Co.), Series N0Q2</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.206 0.161 0.126 0.119 0.087 0.072 0.069 0.059 0.051 0.038 0.028 0.050 -0.066 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Baxter International, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Citigroup, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comcast Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cardinal Health, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">First Citizens BancShares, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">WPP PLC</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Samsung Electronics Co. Ltd., Registered Shares, GDR</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">SS&amp;C Technologies Holdings, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Wells Fargo &amp; Co.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">JP Morgan Securities LLC (Wells Fargo &amp; Co.), Series N0Q2</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">1.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.021 0.020 0.020 0.019 0.017 0.017 0.016 0.015 0.015 0.013 BlackRock Mid-Cap Growth Equity Portfolio Institutional Shares CMGIX This annual shareholder report contains important information about BlackRock Mid-Cap Growth Equity Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>84</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.80<span>%</span></td> </tr> </table> 84 0.0080 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned 9.90%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 23.23%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, financials and consumer discretionary sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In financials, positioning in capital markets was most additive, led by exposure to a financial technology platform. Finally, in consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the healthcare, utilities and materials sectors. In healthcare, positioning in the life sciences tools and services industry detracted, in particular exposure to a provider of pharmaceutical packaging. In utilities, positioning in independent power and renewable electricity providers weighed on return, most notably holdings of a power generation company. Finally, in materials, positioning in the construction materials industry detracted, most notably holdings of a construction company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120096.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.90</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.52</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.61</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">23.23</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.22</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.0990 0.0652 0.1061 Russell 1000® Index 0.1373 0.1566 0.1258 Russell Midcap® Growth Index 0.2323 0.1222 0.1147 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>8,649,804,136</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">70</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,983,827</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">87<span>%</span></td> </tr> </table> 8649804136 70 64983827 0.87 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">33.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.333 0.203 0.140 0.126 0.099 0.069 0.015 0.015 0.005 0.040 -0.045 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.062 0.058 0.045 0.034 0.033 0.033 0.031 0.030 0.028 0.028 BlackRock Mid-Cap Growth Equity Portfolio Service Shares CMGSX This annual shareholder report contains important information about BlackRock Mid-Cap Growth Equity Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Service Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>110</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.05<span>%</span></td> </tr> </table> 110 0.0105 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Service Shares returned 9.58%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 23.23%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, financials and consumer discretionary sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In financials, positioning in capital markets was most additive, led by exposure to a financial technology platform. Finally, in consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the healthcare, utilities and materials sectors. In healthcare, positioning in the life sciences tools and services industry detracted, in particular exposure to a provider of pharmaceutical packaging. In utilities, positioning in independent power and renewable electricity providers weighed on return, most notably holdings of a power generation company. Finally, in materials, positioning in the construction materials industry detracted, most notably holdings of a construction company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120228.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Service Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.26</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">23.23</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.22</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Service Shares 0.0958 0.0626 0.1034 Russell 1000® Index 0.1373 0.1566 0.1258 Russell Midcap® Growth Index 0.2323 0.1222 0.1147 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>8,649,804,136</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">70</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,983,827</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">87<span>%</span></td> </tr> </table> 8649804136 70 64983827 0.87 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">33.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.333 0.203 0.140 0.126 0.099 0.069 0.015 0.015 0.005 0.040 -0.045 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.062 0.058 0.045 0.034 0.033 0.033 0.031 0.030 0.028 0.028 BlackRock Mid-Cap Growth Equity Portfolio Investor A Shares BMGAX This annual shareholder report contains important information about BlackRock Mid-Cap Growth Equity Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>110</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.05<span>%</span></td> </tr> </table> 110 0.0105 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned 9.61%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 23.23%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, financials and consumer discretionary sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In financials, positioning in capital markets was most additive, led by exposure to a financial technology platform. Finally, in consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the healthcare, utilities and materials sectors. In healthcare, positioning in the life sciences tools and services industry detracted, in particular exposure to a provider of pharmaceutical packaging. In utilities, positioning in independent power and renewable electricity providers weighed on return, most notably holdings of a power generation company. Finally, in materials, positioning in the construction materials industry detracted, most notably holdings of a construction company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120140.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.61</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.26</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.30</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">3.85</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.71</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">23.23</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.22</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.0961 0.0626 0.1030 Investor A Shares (with sales charge) 0.0385 0.0512 0.0971 Russell 1000® Index 0.1373 0.1566 0.1258 Russell Midcap® Growth Index 0.2323 0.1222 0.1147 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>8,649,804,136</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">70</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,983,827</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">87<span>%</span></td> </tr> </table> 8649804136 70 64983827 0.87 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">33.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.333 0.203 0.140 0.126 0.099 0.069 0.015 0.015 0.005 0.040 -0.045 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.062 0.058 0.045 0.034 0.033 0.033 0.031 0.030 0.028 0.028 BlackRock Mid-Cap Growth Equity Portfolio Investor C Shares BMGCX This annual shareholder report contains important information about BlackRock Mid-Cap Growth Equity Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>188</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.80<span>%</span></td> </tr> </table> 188 0.0180 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned 8.82%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 23.23%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, financials and consumer discretionary sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In financials, positioning in capital markets was most additive, led by exposure to a financial technology platform. Finally, in consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the healthcare, utilities and materials sectors. In healthcare, positioning in the life sciences tools and services industry detracted, in particular exposure to a provider of pharmaceutical packaging. In utilities, positioning in independent power and renewable electricity providers weighed on return, most notably holdings of a power generation company. Finally, in materials, positioning in the construction materials industry detracted, most notably holdings of a construction company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120184.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.82</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.82</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">23.23</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.22</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares 0.0882 0.0547 0.0965 Investor C Shares (with sales charge) 0.0782 0.0547 0.0965 Russell 1000® Index 0.1373 0.1566 0.1258 Russell Midcap® Growth Index 0.2323 0.1222 0.1147 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>8,649,804,136</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">70</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,983,827</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">87<span>%</span></td> </tr> </table> 8649804136 70 64983827 0.87 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">33.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.333 0.203 0.140 0.126 0.099 0.069 0.015 0.015 0.005 0.040 -0.045 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.062 0.058 0.045 0.034 0.033 0.033 0.031 0.030 0.028 0.028 BlackRock Mid-Cap Growth Equity Portfolio Class K Shares BMGKX This annual shareholder report contains important information about BlackRock Mid-Cap Growth Equity Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>75</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.71<span>%</span></td> </tr> </table> 75 0.0071 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned 9.97%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 23.23%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, financials and consumer discretionary sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In financials, positioning in capital markets was most additive, led by exposure to a financial technology platform. Finally, in consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the healthcare, utilities and materials sectors. In healthcare, positioning in the life sciences tools and services industry detracted, in particular exposure to a provider of pharmaceutical packaging. In utilities, positioning in independent power and renewable electricity providers weighed on return, most notably holdings of a power generation company. Finally, in materials, positioning in the construction materials industry detracted, most notably holdings of a construction company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120008.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.97</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">6.62</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.70</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">23.23</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.22</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.0997 0.0662 0.1070 Russell 1000® Index 0.1373 0.1566 0.1258 Russell Midcap® Growth Index 0.2323 0.1222 0.1147 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>8,649,804,136</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">70</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,983,827</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">87<span>%</span></td> </tr> </table> 8649804136 70 64983827 0.87 2016-03-28 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">33.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.333 0.203 0.140 0.126 0.099 0.069 0.015 0.015 0.005 0.040 -0.045 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.062 0.058 0.045 0.034 0.033 0.033 0.031 0.030 0.028 0.028 BlackRock Mid-Cap Growth Equity Portfolio Class R Shares BMRRX This annual shareholder report contains important information about BlackRock Mid-Cap Growth Equity Portfolio (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>136</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.30<span>%</span></td> </tr> </table> 136 0.0130 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class R Shares returned 9.34%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.73% and the Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index returned 23.23%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, financials and consumer discretionary sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In financials, positioning in capital markets was most additive, led by exposure to a financial technology platform. Finally, in consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the healthcare, utilities and materials sectors. In healthcare, positioning in the life sciences tools and services industry detracted, in particular exposure to a provider of pharmaceutical packaging. In utilities, positioning in independent power and renewable electricity providers weighed on return, most notably holdings of a power generation company. Finally, in materials, positioning in the construction materials industry detracted, most notably holdings of a construction company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120052.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class R Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.34</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.99</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">10.03</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.73</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.58</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell Midcap<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">23.23</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">12.22</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class R Shares 0.0934 0.0599 0.1003 Russell 1000® Index 0.1373 0.1566 0.1258 Russell Midcap® Growth Index 0.2323 0.1222 0.1147 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>8,649,804,136</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">70</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>64,983,827</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">87<span>%</span></td> </tr> </table> 8649804136 70 64983827 0.87 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">33.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">20.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">14.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.333 0.203 0.140 0.126 0.099 0.069 0.015 0.015 0.005 0.040 -0.045 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">AppLovin Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Palantir Technologies, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">HEICO Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Dexcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Ares Management Corp., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cloudflare, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Howmet Aerospace, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.062 0.058 0.045 0.034 0.033 0.033 0.031 0.030 0.028 0.028 BlackRock SMID-Cap Growth Equity Fund Institutional Shares BSMDX This annual shareholder report contains important information about BlackRock SMID-Cap Growth Equity Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 8pt; color: #000000; margin-bottom: 5pt; margin-top: 5pt;" title="oef:MaterialFundChngNoticeTextBlock">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>86</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.85<span>%</span></td> </tr> </table> 86 0.0085 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned 2.69%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 2500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">TM</sup> Growth Index returned 3.26%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, consumer discretionary and financials sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company. Finally, in financials, positioning in capital markets was most additive, led by exposure to a financial technology platform.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the information technology, healthcare and consumer staples sectors. In information technology, positioning in the semiconductors and semiconductor equipment industry detracted, in particular exposure to a provider of semiconductor materials. In healthcare, positioning in life sciences tools and services weighed on returns, most notably holdings of a pharmaceutical packaging company. Finally, in consumer staples, positioning in the food products industry detracted, most notably holdings of a pet food company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 29, 2021 through May 31, 2025</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div> <div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120712.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div> <div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">2.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(10.48</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 2500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">TM</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.26</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(2.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"><span>)</span></td> </tr> </table> Institutional Shares 0.0269 -0.1048 Russell 3000® Index 0.1312 0.0866 Russell 2500TM Growth Index 0.0326 -0.0232 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>10,320,861</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">91</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>47,699</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">36<span>%</span></td> </tr> </table> 10320861 91 47699 0.36 2021-06-29 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">27.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">23.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Duolingo, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tradeweb Markets, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Carvana Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Galderma Group AG</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Liberty Media Corp. - Liberty Formula One, Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Planet Fitness, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.276 0.233 0.184 0.112 0.082 0.063 0.028 0.008 0.007 0.009 -0.002 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Duolingo, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tradeweb Markets, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Carvana Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Galderma Group AG</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Liberty Media Corp. - Liberty Formula One, Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Planet Fitness, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.039 0.034 0.031 0.027 0.025 0.024 0.024 0.024 0.023 0.022 <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;" title="oef:MaterialFundChngTextBlock">Material fund changes</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">This is a summary of certain and planned changes to the Fund since May 31, 2024.</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">On February 20, 2025, the Fund’s Board approved the closure of the Fund to new and subsequent investments and thereafter to liquidate the Fund. Accordingly, effective 4:00 p.m. (Eastern time) on June 6, 2025, the Fund no longer accepted orders to purchase Fund shares. On June 13, 2025, all of the assets of the Fund were liquidated completely, the shares of any shareholders were redeemed at the net asset value per share and the Fund was terminated as a series of the Trust.</div> BlackRock SMID-Cap Growth Equity Fund Investor A Shares BSDAX This annual shareholder report contains important information about BlackRock SMID-Cap Growth Equity Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 8pt; color: #000000; margin-bottom: 5pt; margin-top: 5pt;" title="oef:MaterialFundChngNoticeTextBlock">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>111</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.10<span>%</span></td> </tr> </table> 111 0.0110 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned 2.47%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 2500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">TM</sup> Growth Index returned 3.26%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, consumer discretionary and financials sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company. Finally, in financials, positioning in capital markets was most additive, led by exposure to a financial technology platform.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the information technology, healthcare and consumer staples sectors. In information technology, positioning in the semiconductors and semiconductor equipment industry detracted, in particular exposure to a provider of semiconductor materials. In healthcare, positioning in life sciences tools and services weighed on returns, most notably holdings of a pharmaceutical packaging company. Finally, in consumer staples, positioning in the food products industry detracted, most notably holdings of a pet food company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 29, 2021 through May 31, 2025</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div> <div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120756.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div> <div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">2.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(10.69</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(2.91</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(11.91</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>)</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 2500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">TM</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.26</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(2.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"><span>)</span></td> </tr> </table> Investor A Shares 0.0247 -0.1069 Investor A Shares (with sales charge) -0.0291 -0.1191 Russell 3000® Index 0.1312 0.0866 Russell 2500TM Growth Index 0.0326 -0.0232 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>10,320,861</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">91</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>47,699</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">36<span>%</span></td> </tr> </table> 10320861 91 47699 0.36 2021-06-29 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">27.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">23.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Duolingo, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tradeweb Markets, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Carvana Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Galderma Group AG</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Liberty Media Corp. - Liberty Formula One, Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Planet Fitness, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.276 0.233 0.184 0.112 0.082 0.063 0.028 0.008 0.007 0.009 -0.002 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Duolingo, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tradeweb Markets, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Carvana Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Galderma Group AG</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Liberty Media Corp. - Liberty Formula One, Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Planet Fitness, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.039 0.034 0.031 0.027 0.025 0.024 0.024 0.024 0.023 0.022 <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;" title="oef:MaterialFundChngTextBlock">Material fund changes</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">This is a summary of certain and planned changes to the Fund since May 31, 2024.</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">On February 20, 2025, the Fund’s Board approved the closure of the Fund to new and subsequent investments and thereafter to liquidate the Fund. Accordingly, effective 4:00 p.m. (Eastern time) on June 6, 2025, the Fund no longer accepted orders to purchase Fund shares. On June 13, 2025, all of the assets of the Fund were liquidated completely, the shares of any shareholders were redeemed at the net asset value per share and the Fund was terminated as a series of the Trust.</div> BlackRock SMID-Cap Growth Equity Fund Class K Shares BSDKX This annual shareholder report contains important information about BlackRock SMID-Cap Growth Equity Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 8pt; color: #000000; margin-bottom: 5pt; margin-top: 5pt;" title="oef:MaterialFundChngNoticeTextBlock">This report describes changes to the Fund that occurred during the reporting period.</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>76</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.75<span>%</span></td> </tr> </table> 76 0.0075 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned 2.77%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.12% and the Russell 2500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">TM</sup> Growth Index returned 3.26%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Positive contributions to the Fund’s performance over the period were led by investment decisions in the industrials, consumer discretionary and financials sectors. In industrials, holdings in the aerospace and defense industry proved beneficial, most notably exposure to a provider of public safety equipment. In consumer discretionary, positioning in the diversified consumer services industry contributed, most notably holdings of an educational technology company. Finally, in financials, positioning in capital markets was most additive, led by exposure to a financial technology platform.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The largest detractors from performance over the period were investment decisions in the information technology, healthcare and consumer staples sectors. In information technology, positioning in the semiconductors and semiconductor equipment industry detracted, in particular exposure to a provider of semiconductor materials. In healthcare, positioning in life sciences tools and services weighed on returns, most notably holdings of a pharmaceutical packaging company. Finally, in consumer staples, positioning in the food products industry detracted, most notably holdings of a pet food company.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 29, 2021 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120800.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">2.77</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(10.39</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.12</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.66</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">Russell 2500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">TM</sup> Growth Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">3.26</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">(2.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"><span>)</span></td> </tr> </table> Class K Shares 0.0277 -0.1039 Russell 3000® Index 0.1312 0.0866 Russell 2500TM Growth Index 0.0326 -0.0232 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>10,320,861</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">91</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>47,699</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">36<span>%</span></td> </tr> </table> 10320861 91 47699 0.36 2021-06-29 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">27.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">23.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Duolingo, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tradeweb Markets, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Carvana Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Galderma Group AG</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Liberty Media Corp. - Liberty Formula One, Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Planet Fitness, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.276 0.233 0.184 0.112 0.082 0.063 0.028 0.008 0.007 0.009 -0.002 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Axon Enterprise, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Comfort Systems U.S.A., Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Duolingo, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Tradeweb Markets, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Vertiv Holdings Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Carvana Co., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Galderma Group AG</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Live Nation Entertainment, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Liberty Media Corp. - Liberty Formula One, Class C, NVS</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Planet Fitness, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.039 0.034 0.031 0.027 0.025 0.024 0.024 0.024 0.023 0.022 <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;" title="oef:MaterialFundChngTextBlock">Material fund changes</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">This is a summary of certain and planned changes to the Fund since May 31, 2024.</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">On February 20, 2025, the Fund’s Board approved the closure of the Fund to new and subsequent investments and thereafter to liquidate the Fund. Accordingly, effective 4:00 p.m. (Eastern time) on June 6, 2025, the Fund no longer accepted orders to purchase Fund shares. On June 13, 2025, all of the assets of the Fund were liquidated completely, the shares of any shareholders were redeemed at the net asset value per share and the Fund was terminated as a series of the Trust.</div> BlackRock Technology Opportunities Fund Institutional Shares BGSIX This annual shareholder report contains important information about BlackRock Technology Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>99</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.92<span>%</span></td> </tr> </table> 99 0.0092 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned 16.22%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI All-Country World Information Technology 10/40 Index returned 15.75%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Broadcom, Inc., which benefited from significant growth in its artificial intelligence (“AI”) chip business as well as the successful integration of an acquisition, was the largest contributor to the Fund’s absolute performance. The semiconductor giant NVIDIA, Inc., which experienced rising demand for its AI-optimized graphics processing units in data centers, was also a top contributor. Spotify SA was an additional contributor of note. Shares of the music streaming application company rose on the strength of its first full year of profitability in 2024, a growing user base, and its efforts to augment monetization through price hikes and new subscription tiers.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Micron Technology, Inc. was the largest detractor from returns. The stock declined as an oversupply of memory chips and slower demand in consumer electronics pressured prices and revenue growth. MongoDB, Inc. also detracted from performance, reflecting slower-than-expected revenue growth and disappointing financial guidance. The semiconductor company ASML NV, which reduced its revenue forecast due to excess semiconductor industry capacity, delayed orders from major clients, and weaker-than-expected demand outside the AI chip segment, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120316.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.22</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.38</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.83</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All-Country World Information Technology 10/40 Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI All-Country World Information Technology Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">14.50</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">19.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">18.38</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares 0.1622 0.1438 0.1883 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI All-Country World Information Technology 10/40 Index 0.1575 0.1864 0.1814 MSCI All-Country World Information Technology Index 0.1450 0.1937 0.1838 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,056,850,565</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">74</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>44,166,278</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">52<span>%</span></td> </tr> </table> 6056850565 74 44166278 0.52 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Software</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">31.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Semiconductors &amp; Semiconductor Equipment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Technology Hardware, Storage &amp; Peripherals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadline Retail</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Interactive Media &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Entertainment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">IT Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Professional Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Capital Markets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest industries are presented. Additional industries are found in Other.</div> </td> </tr> </table> 0.311 0.269 0.068 0.062 0.060 0.049 0.046 0.033 0.027 0.014 0.037 0.027 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.130 0.085 0.067 0.059 0.046 0.032 0.029 0.026 0.024 0.021 BlackRock Technology Opportunities Fund Service Shares BSTSX This annual shareholder report contains important information about BlackRock Technology Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Service Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>126</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.17<span>%</span></td> </tr> </table> 126 0.0117 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Service Shares returned 15.96%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI All-Country World Information Technology 10/40 Index returned 15.75%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Broadcom, Inc., which benefited from significant growth in its artificial intelligence (“AI”) chip business as well as the successful integration of an acquisition, was the largest contributor to the Fund’s absolute performance. The semiconductor giant NVIDIA, Inc., which experienced rising demand for its AI-optimized graphics processing units in data centers, was also a top contributor. Spotify SA was an additional contributor of note. Shares of the music streaming application company rose on the strength of its first full year of profitability in 2024, a growing user base, and its efforts to augment monetization through price hikes and new subscription tiers.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Micron Technology, Inc. was the largest detractor from returns. The stock declined as an oversupply of memory chips and slower demand in consumer electronics pressured prices and revenue growth. MongoDB, Inc. also detracted from performance, reflecting slower-than-expected revenue growth and disappointing financial guidance. The semiconductor company ASML NV, which reduced its revenue forecast due to excess semiconductor industry capacity, delayed orders from major clients, and weaker-than-expected demand outside the AI chip segment, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120448.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Service Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.96</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.10</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.54</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All-Country World Information Technology 10/40 Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI All-Country World Information Technology Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">14.50</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">19.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">18.38</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Service Shares 0.1596 0.1410 0.1854 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI All-Country World Information Technology 10/40 Index 0.1575 0.1864 0.1814 MSCI All-Country World Information Technology Index 0.1450 0.1937 0.1838 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,056,850,565</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">74</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>44,166,278</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">52<span>%</span></td> </tr> </table> 6056850565 74 44166278 0.52 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Software</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">31.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Semiconductors &amp; Semiconductor Equipment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Technology Hardware, Storage &amp; Peripherals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadline Retail</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Interactive Media &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Entertainment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">IT Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Professional Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Capital Markets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest industries are presented. Additional industries are found in Other.</div> </td> </tr> </table> 0.311 0.269 0.068 0.062 0.060 0.049 0.046 0.033 0.027 0.014 0.037 0.027 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.130 0.085 0.067 0.059 0.046 0.032 0.029 0.026 0.024 0.021 BlackRock Technology Opportunities Fund Investor A Shares BGSAX This annual shareholder report contains important information about BlackRock Technology Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>126</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.17<span>%</span></td> </tr> </table> 126 0.0117 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned 15.96%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI All-Country World Information Technology 10/40 Index returned 15.75%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Broadcom, Inc., which benefited from significant growth in its artificial intelligence (“AI”) chip business as well as the successful integration of an acquisition, was the largest contributor to the Fund’s absolute performance. The semiconductor giant NVIDIA, Inc., which experienced rising demand for its AI-optimized graphics processing units in data centers, was also a top contributor. Spotify SA was an additional contributor of note. Shares of the music streaming application company rose on the strength of its first full year of profitability in 2024, a growing user base, and its efforts to augment monetization through price hikes and new subscription tiers.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Micron Technology, Inc. was the largest detractor from returns. The stock declined as an oversupply of memory chips and slower demand in consumer electronics pressured prices and revenue growth. MongoDB, Inc. also detracted from performance, reflecting slower-than-expected revenue growth and disappointing financial guidance. The semiconductor company ASML NV, which reduced its revenue forecast due to excess semiconductor industry capacity, delayed orders from major clients, and weaker-than-expected demand outside the AI chip segment, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120360.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.96</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.10</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.52</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.88</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">12.87</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.88</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All-Country World Information Technology 10/40 Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI All-Country World Information Technology Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">14.50</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">19.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">18.38</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares 0.1596 0.1410 0.1852 Investor A Shares (with sales charge) 0.0988 0.1287 0.1788 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI All-Country World Information Technology 10/40 Index 0.1575 0.1864 0.1814 MSCI All-Country World Information Technology Index 0.1450 0.1937 0.1838 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,056,850,565</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">74</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>44,166,278</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">52<span>%</span></td> </tr> </table> 6056850565 74 44166278 0.52 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Software</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">31.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Semiconductors &amp; Semiconductor Equipment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Technology Hardware, Storage &amp; Peripherals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadline Retail</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Interactive Media &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Entertainment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">IT Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Professional Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Capital Markets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest industries are presented. Additional industries are found in Other.</div> </td> </tr> </table> 0.311 0.269 0.068 0.062 0.060 0.049 0.046 0.033 0.027 0.014 0.037 0.027 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.130 0.085 0.067 0.059 0.046 0.032 0.029 0.026 0.024 0.021 BlackRock Technology Opportunities Fund Investor C Shares BGSCX This annual shareholder report contains important information about BlackRock Technology Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>205</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.91<span>%</span></td> </tr> </table> 205 0.0191 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor C Shares returned 15.15%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI All-Country World Information Technology 10/40 Index returned 15.75%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Broadcom, Inc., which benefited from significant growth in its artificial intelligence (“AI”) chip business as well as the successful integration of an acquisition, was the largest contributor to the Fund’s absolute performance. The semiconductor giant NVIDIA, Inc., which experienced rising demand for its AI-optimized graphics processing units in data centers, was also a top contributor. Spotify SA was an additional contributor of note. Shares of the music streaming application company rose on the strength of its first full year of profitability in 2024, a growing user base, and its efforts to augment monetization through price hikes and new subscription tiers.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Micron Technology, Inc. was the largest detractor from returns. The stock declined as an oversupply of memory chips and slower demand in consumer electronics pressured prices and revenue growth. MongoDB, Inc. also detracted from performance, reflecting slower-than-expected revenue growth and disappointing financial guidance. The semiconductor company ASML NV, which reduced its revenue forecast due to excess semiconductor industry capacity, delayed orders from major clients, and weaker-than-expected demand outside the AI chip segment, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120404.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.15</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.26</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor C Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.15</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.26</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">17.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All-Country World Information Technology 10/40 Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI All-Country World Information Technology Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">14.50</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">19.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">18.38</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor C Shares 0.1515 0.1326 0.1781 Investor C Shares (with sales charge) 0.1415 0.1326 0.1781 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI All-Country World Information Technology 10/40 Index 0.1575 0.1864 0.1814 MSCI All-Country World Information Technology Index 0.1450 0.1937 0.1838 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,056,850,565</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">74</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>44,166,278</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">52<span>%</span></td> </tr> </table> 6056850565 74 44166278 0.52 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Software</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">31.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Semiconductors &amp; Semiconductor Equipment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Technology Hardware, Storage &amp; Peripherals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadline Retail</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Interactive Media &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Entertainment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">IT Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Professional Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Capital Markets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest industries are presented. Additional industries are found in Other.</div> </td> </tr> </table> 0.311 0.269 0.068 0.062 0.060 0.049 0.046 0.033 0.027 0.014 0.037 0.027 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> (b)Excludes short-term securities. 0.130 0.085 0.067 0.059 0.046 0.032 0.029 0.026 0.024 0.021 BlackRock Technology Opportunities Fund Class K Shares BTEKX This annual shareholder report contains important information about BlackRock Technology Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>90</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">0.83<span>%</span></td> </tr> </table> 90 0.0083 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned 16.33%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI All-Country World Information Technology 10/40 Index returned 15.75%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Broadcom, Inc., which benefited from significant growth in its artificial intelligence (“AI”) chip business as well as the successful integration of an acquisition, was the largest contributor to the Fund’s absolute performance. The semiconductor giant NVIDIA, Inc., which experienced rising demand for its AI-optimized graphics processing units in data centers, was also a top contributor. Spotify SA was an additional contributor of note. Shares of the music streaming application company rose on the strength of its first full year of profitability in 2024, a growing user base, and its efforts to augment monetization through price hikes and new subscription tiers.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Micron Technology, Inc. was the largest detractor from returns. The stock declined as an oversupply of memory chips and slower demand in consumer electronics pressured prices and revenue growth. MongoDB, Inc. also detracted from performance, reflecting slower-than-expected revenue growth and disappointing financial guidance. The semiconductor company ASML NV, which reduced its revenue forecast due to excess semiconductor industry capacity, delayed orders from major clients, and weaker-than-expected demand outside the AI chip segment, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120492.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">16.33</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">14.47</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.88</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All-Country World Information Technology 10/40 Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI All-Country World Information Technology Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">14.50</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">19.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">18.38</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares 0.1633 0.1447 0.1888 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI All-Country World Information Technology 10/40 Index 0.1575 0.1864 0.1814 MSCI All-Country World Information Technology Index 0.1450 0.1937 0.1838 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,056,850,565</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">74</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>44,166,278</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">52<span>%</span></td> </tr> </table> 6056850565 74 44166278 0.52 2019-12-10 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Software</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">31.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Semiconductors &amp; Semiconductor Equipment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Technology Hardware, Storage &amp; Peripherals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadline Retail</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Interactive Media &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Entertainment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">IT Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Professional Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Capital Markets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table><div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest industries are presented. Additional industries are found in Other.</div> </td> </tr> </table> 0.311 0.269 0.068 0.062 0.060 0.049 0.046 0.033 0.027 0.014 0.037 0.027 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.130 0.085 0.067 0.059 0.046 0.032 0.029 0.026 0.024 0.021 BlackRock Technology Opportunities Fund Class R Shares BGSRX This annual shareholder report contains important information about BlackRock Technology Opportunities Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>153</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.42<span>%</span></td> </tr> </table> 153 0.0142 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class R Shares returned 15.68%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the MSCI All Country World Index, returned 13.65% and the MSCI All-Country World Information Technology 10/40 Index returned 15.75%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Broadcom, Inc., which benefited from significant growth in its artificial intelligence (“AI”) chip business as well as the successful integration of an acquisition, was the largest contributor to the Fund’s absolute performance. The semiconductor giant NVIDIA, Inc., which experienced rising demand for its AI-optimized graphics processing units in data centers, was also a top contributor. Spotify SA was an additional contributor of note. Shares of the music streaming application company rose on the strength of its first full year of profitability in 2024, a growing user base, and its efforts to augment monetization through price hikes and new subscription tiers.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Micron Technology, Inc. was the largest detractor from returns. The stock declined as an oversupply of memory chips and slower demand in consumer electronics pressured prices and revenue growth. MongoDB, Inc. also detracted from performance, reflecting slower-than-expected revenue growth and disappointing financial guidance. The semiconductor company ASML NV, which reduced its revenue forecast due to excess semiconductor industry capacity, delayed orders from major clients, and weaker-than-expected demand outside the AI chip segment, was another detractor of note.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 1, 2015 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120272.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">5 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">10 Years</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class R Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.68</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.81</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.22</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All Country World Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.65</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">9.25</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">MSCI All-Country World Information Technology 10/40 Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">15.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.64</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">MSCI All-Country World Information Technology Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">14.50</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">19.37</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">18.38</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class R Shares 0.1568 0.1381 0.1822 MSCI All Country World Index 0.1365 0.1337 0.0925 MSCI All-Country World Information Technology 10/40 Index 0.1575 0.1864 0.1814 MSCI All-Country World Information Technology Index 0.1450 0.1937 0.1838 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>6,056,850,565</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">74</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>44,166,278</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">52<span>%</span></td> </tr> </table> 6056850565 74 44166278 0.52 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Industry allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"><em>Industry<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Software</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">31.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Semiconductors &amp; Semiconductor Equipment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">26.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Technology Hardware, Storage &amp; Peripherals</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.8</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadline Retail</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Interactive Media &amp; Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Entertainment</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">IT Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financial Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Professional Services</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Capital Markets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Other<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Short-Term Securities</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Liabilities in Excess of Other Assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">(0.3</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span>)</span><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Excludes short-term securities.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">#</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Ten largest industries are presented. Additional industries are found in Other.</div> </td> </tr> </table> 0.311 0.269 0.068 0.062 0.060 0.049 0.046 0.033 0.027 0.014 0.037 0.027 -0.003 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"><em>Security<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></em></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of<br/>Net Assets</em></td> <td style="width: auto; break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">NVIDIA Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.0</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Microsoft Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.5</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Broadcom, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.7</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Apple Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Meta Platforms, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Amazon.com, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.2</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Oracle Corp.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.9</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Snowflake, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Cadence Design Systems, Inc.</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.4</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 1.6pt 6pt;">Mastercard, Inc., Class A</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; color: #000000; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 1.6pt 0;">2.1</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 1.6pt 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> </table>(b)Excludes short-term securities. 0.130 0.085 0.067 0.059 0.046 0.032 0.029 0.026 0.024 0.021 BlackRock U.S. Insights Long/Short Equity Fund Institutional Shares BILSX This annual shareholder report contains important information about BlackRock U.S. Insights Long/Short Equity Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>158</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.61<span>%</span></td> </tr> </table> 158 0.0161 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Institutional Shares returned (4.16)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the S&amp;P 500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.52%, and the Fund's customized benchmark, comprised of 50% S&amp;P 500 Index and 50% ICE BofA 3 Month Treasury Bill Index returned 9.24%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Stock selection in financials, which was driven by fundamental quality measures and insights that evaluate sentiment among analysts and informed investors, contributed to absolute performance. The Fund used derivatives to implement its stock selection strategy. This aspect of the Fund’s positioning marginally contributed to results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in consumer-related stocks posted negative absolute returns, due primarily to a tilt toward companies that focus on less affluent customers. Positioning in the healthcare sector also detracted, as certain holdings were adversely affected by headline events such as the presidential election result and the death of United Health Care’s chief executive officer. Stock selection in the artificial intelligence (“AI”) theme also detracted as the Fund’s positioning in this area, which was driven by company fundamentals, was out of step with the speculative environment. Specifically, the Fund was hurt by a short position in International Business Machines Corp.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 13, 2023 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10120976.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Institutional Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(4.16</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.14</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">S&amp;P 500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.52</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">50% S&amp;P 500 Index/50% ICE BofA 3-Month U.S. Treasury Bill Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.24</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Institutional Shares -0.0416 0.0814 S&P 500® Index 0.1352 0.1832 50% S&P 500 Index/50% ICE BofA 3-Month U.S. Treasury Bill Index 0.0924 0.1175 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>11,827,528</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">636</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">313<span>%</span></td> </tr> </table> 11827528 636 0 3.13 2023-06-13 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; text-transform: none; color: #000000; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"></td> <td colspan="6" style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Percent of Total Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> </tr> <tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 6pt;">Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Long</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Short</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Total</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.5</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.1</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.2</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">59.9</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">40.1</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">100.0</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Includes the gross market value of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> </table> 0.127 0.060 0.187 0.095 0.076 0.171 0.092 0.066 0.158 0.077 0.062 0.139 0.050 0.040 0.090 0.048 0.018 0.066 0.030 0.026 0.056 0.038 0.009 0.047 0.018 0.019 0.037 0.016 0.018 0.034 0.008 0.007 0.015 0.599 0.401 1.000 BlackRock U.S. Insights Long/Short Equity Fund Investor A Shares BALSX This annual shareholder report contains important information about BlackRock U.S. Insights Long/Short Equity Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>182</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.86<span>%</span></td> </tr> </table> 182 0.0186 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Investor A Shares returned (4.27)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the S&amp;P 500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.52%, and the Fund's customized benchmark, comprised of 50% S&amp;P 500 Index and 50% ICE BofA 3 Month Treasury Bill Index returned 9.24%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Stock selection in financials, which was driven by fundamental quality measures and insights that evaluate sentiment among analysts and informed investors, contributed to absolute performance. The Fund used derivatives to implement its stock selection strategy. This aspect of the Fund’s positioning marginally contributed to results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in consumer-related stocks posted negative absolute returns, due primarily to a tilt toward companies that focus on less affluent customers. Positioning in the healthcare sector also detracted, as certain holdings were adversely affected by headline events such as the presidential election result and the death of United Health Care’s chief executive officer. Stock selection in the artificial intelligence (“AI”) theme also detracted as the Fund’s positioning in this area, which was driven by company fundamentals, was out of step with the speculative environment. Specifically, the Fund was hurt by a short position in International Business Machines Corp.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 13, 2023 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10121020.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(4.27</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">7.92</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Investor A Shares (with sales charge)</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(9.30</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">5.00</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">S&amp;P 500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.52</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">50% S&amp;P 500 Index/50% ICE BofA 3-Month U.S. Treasury Bill Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.24</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Investor A Shares -0.0427 0.0792 Investor A Shares (with sales charge) -0.0930 0.0500 S&P 500® Index 0.1352 0.1832 50% S&P 500 Index/50% ICE BofA 3-Month U.S. Treasury Bill Index 0.0924 0.1175 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>11,827,528</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">636</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">313<span>%</span></td> </tr> </table> 11827528 636 0 3.13 2023-06-13 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; text-transform: none; color: #000000; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"></td> <td colspan="6" style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Percent of Total Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> </tr> <tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 6pt;">Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Long</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Short</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Total</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.5</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.1</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.2</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">59.9</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">40.1</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">100.0</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Includes the gross market value of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> </table> 0.127 0.060 0.187 0.095 0.076 0.171 0.092 0.066 0.158 0.077 0.062 0.139 0.050 0.040 0.090 0.048 0.018 0.066 0.030 0.026 0.056 0.038 0.009 0.047 0.018 0.019 0.037 0.016 0.018 0.034 0.008 0.007 0.015 0.599 0.401 1.000 BlackRock U.S. Insights Long/Short Equity Fund Class K Shares BKLSX This annual shareholder report contains important information about BlackRock U.S. Insights Long/Short Equity Fund (the “Fund”) for the period of June 1, 2024 to May 31, 2025. annual shareholder report You can find additional information about the Fund at <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com/fundreports</span>. You can also request this information by contacting us at (800) 441‑7762. blackrock.com/fundreports (800) 441‑7762 <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:ExpensesTextBlock">What were the Fund costs for the last year?</div> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: #000000;">(based on a hypothetical $10,000 investment)</div> <table style="break-inside: avoid-page; margin-top: 2pt; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs of a $10,000<br/>investment</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-weight: bold; font-size: 9pt; line-height: 11pt; color: #000000; background-color: #ffce00; text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; overflow-x: hidden; font-size: 8pt; line-height: 10pt; text-align: left; vertical-align: bottom; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>153</td> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; text-align: center; font-size: 8pt; line-height: 10pt; vertical-align: bottom; padding: 4pt 0 2pt 0;">1.56<span>%</span></td> </tr> </table> 153 0.0156 <div style="margin-bottom: 0px;"> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt; margin-top: 0px;">How did the Fund perform last year?</div> </div> <ul style="break-inside: avoid; padding: 0; margin: 3.5pt 0 3.5pt 0;"> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the reporting period ended May 31, 2025, the Fund's Class K Shares returned (4.06)%.</div> </li> <li style="padding-left: 4pt; font-family: 'Arial'; font-size: 8pt; line-height: 12.32pt; text-align: justify; list-style-type: disc; color: #000000; margin-left: 34px;"> <div style="margin-top: 0px; margin-bottom: 0px; font-kerning: none;">For the same period, the Fund’s benchmark, the S&amp;P 500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index, returned 13.52%, and the Fund's customized benchmark, comprised of 50% S&amp;P 500 Index and 50% ICE BofA 3 Month Treasury Bill Index returned 9.24%.</div> </li> </ul> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What contributed to performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">Stock selection in financials, which was driven by fundamental quality measures and insights that evaluate sentiment among analysts and informed investors, contributed to absolute performance. The Fund used derivatives to implement its stock selection strategy. This aspect of the Fund’s positioning marginally contributed to results. The Fund’s cash position had no material impact on performance.</div> </div> <div style="break-inside: avoid; margin-bottom: 3.5pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: normal; font-size: 10pt; letter-spacing: normal; text-transform: none; color: #000000; margin-bottom: 5pt;">What detracted from performance?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;">The Fund’s holdings in consumer-related stocks posted negative absolute returns, due primarily to a tilt toward companies that focus on less affluent customers. Positioning in the healthcare sector also detracted, as certain holdings were adversely affected by headline events such as the presidential election result and the death of United Health Care’s chief executive officer. Stock selection in the artificial intelligence (“AI”) theme also detracted as the Fund’s positioning in this area, which was driven by company fundamentals, was out of step with the speculative environment. Specifically, the Fund was hurt by a short position in International Business Machines Corp.</div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 3.5pt;"><i>The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.</i></div> </div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;" title="oef:FactorsAffectingPerfTextBlock">Fund performance</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Cumulative performance: June 13, 2023 through May 31, 2025</div><div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">Initial investment of $10,000</div><div style="margin-top: 5pt; margin-bottom: 5pt;"> <img alt="Fund Performance - Growth of 10K" src="g73997chartimages_10121064.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 525pt;"/> </div><div style="padding-left: 10pt; margin-bottom: 7.2pt;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify; color: #000000; margin-bottom: 0px;">See “Average annual total returns” for additional information on fund performance.</div> </div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;" title="oef:AvgAnnlRtrTableTextBlock">Average annual total returns</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; overflow-x: hidden; width: 100%; text-indent: -6pt; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">1 Year</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;">Since Fund<br/>Inception</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; font-family: 'Arial'; font-weight: normal; font-style: italic; font-size: 8pt; line-height: 10pt; vertical-align: bottom; white-space: nowrap; color: #000000; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">Class K Shares</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">(4.06</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"><span>)</span><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">8.21</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"><span style="display: inline; visibility: initial; margin-left: initial;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 6pt;">S&amp;P 500<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">®</sup> Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">13.52</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 0 0;">18.32</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; color: #000000; overflow-x: hidden; font-family: 'Arial'; width: 100%; vertical-align: bottom; text-indent: -6pt; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 6pt;">50% S&amp;P 500 Index/50% ICE BofA 3-Month U.S. Treasury Bill Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">9.24</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 6pt 1.6pt 0;"></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; width: auto; font-size: 8pt; line-height: 10pt; padding: 2pt 0 1.6pt 0;">11.75</td> <td style="break-inside: avoid-page; vertical-align: bottom; font-kerning: none; font-family: 'Arial'; color: #000000; text-align: left; white-space: nowrap; width: auto; font-size: 8pt; line-height: 10pt; padding: 1.6pt 0 1.6pt 0;"></td> </tr> </table> Class K Shares -0.0406 0.0821 S&P 500® Index 0.1352 0.1832 50% S&P 500 Index/50% ICE BofA 3-Month U.S. Treasury Bill Index 0.0924 0.1175 <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;">Key Fund statistics</div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Assets</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>11,827,528</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Number of Portfolio Holdings</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">636</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 0 6pt;">Net Investment Advisory Fees</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>0</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-family: 'Arial'; font-size: 8pt; line-height: 10pt; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 6pt 1.6pt 6pt;">Portfolio Turnover Rate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">313<span>%</span></td> </tr> </table> 11827528 636 0 3.13 2023-06-13 Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit <span style="color: #000000; font-weight: bold; text-decoration-line: none; font-family: 'arial'; font-size: 8pt; line-height: 10.4pt; text-align: justify;">blackrock.com</span> for more recent performance information. <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-weight: bold; font-size: 10pt; color: #000000; margin-bottom: -0.18pt;">What did the Fund invest in?</div> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; text-align: justify; font-size: 9pt; line-height: 11.4pt; color: #000000; margin-bottom: 0px;">(as of May 31, 2025)</div> <div style="border-bottom-width: 0.5pt; border-bottom-style: solid; font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: #000000; background-color: #ffce00; border-bottom-color: #000000; margin-top: 0px; margin-bottom: 0px; padding: 2pt 0px 1.5pt 0px;"><b>Sector allocation</b></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; text-transform: none; color: #000000; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;"></td> <td colspan="6" style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Percent of Total Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></td> </tr> <tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 6pt;">Sector<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Long</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Short</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0 0 0;">Total</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; width: auto; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Information Technology</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">18.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span>%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Financials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.5</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">17.1</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Health Care</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.2</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">15.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Industrials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.2</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">13.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Energy</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Discretionary</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Utilities</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.0</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">2.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">5.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Communication Services</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">4.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Real Estate</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.9</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Consumer Staples</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.6</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">3.4</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; overflow-x: hidden; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-family: 'Arial'; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Materials</td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.8</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">0.7</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 6pt 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; color: #000000; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">1.5</td> <td style="break-inside: avoid-page; font-kerning: none; color: #000000; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">59.9</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">40.1</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 6pt 0 0;"></td> <td style="break-inside: avoid-page; text-align: right; font-kerning: none; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 2pt 0 0 0;">100.0</td> <td style="break-inside: avoid-page; font-kerning: none; text-align: left; white-space: nowrap; width: auto; vertical-align: bottom; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; border-top-color: #000000; border-top-style: solid; border-top-width: 0.5pt; padding: 1.6pt 0 0 0;"></td> </tr> </table> <table style="border-collapse: collapse; break-inside: avoid-page; width: 100%; margin-top: 0px;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; width: initial; text-indent: 0; color: #000000; padding: 1.6pt 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; text-indent: 0; color: #000000; width: 100%; padding: 1.6pt 0 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">Includes the gross market value of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any.</div> </td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: auto; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; color: #000000; width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(b)</sup></div> </td> <td style="break-inside: avoid-page; font-kerning: none; font-family: 'Arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; width: 100%; padding: 0;"> <div style="margin-top: 0px; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: #000000; margin-bottom: 0px; padding: 0px;">For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes.</div> </td> </tr> </table> 0.127 0.060 0.187 0.095 0.076 0.171 0.092 0.066 0.158 0.077 0.062 0.139 0.050 0.040 0.090 0.048 0.018 0.066 0.030 0.026 0.056 0.038 0.009 0.047 0.018 0.019 0.037 0.016 0.018 0.034 0.008 0.007 0.015 0.599 0.401 1.000 For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Ten largest countries are presented. Additional countries are found in Other. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Ten largest industries are presented. Additional industries are found in Other. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Ten largest industries are presented. Additional industries are found in Other. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Ten largest industries are presented. Additional industries are found in Other. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Ten largest industries are presented. Additional industries are found in Other. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Ten largest industries are presented. Additional industries are found in Other. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Ten largest industries are presented. Additional industries are found in Other. Excludes short-term securities. Ten largest countries are presented. Additional countries are found in Other. Includes the gross market value of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Includes the gross market value of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Includes the gross market value of long and short securities of the underlying derivative contracts and excludes short-term securities and options, if any. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Ten largest countries are presented. Additional countries are found in Other. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Ten largest countries are presented. Additional countries are found in Other. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, industry sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. For purposes of this report, sector sub-classifications may differ from those utilized by the Fund for compliance purposes. Excludes short-term securities. Ten largest countries are presented. Additional countries are found in Other.