NPORT-P false 0000844779 XXXXXXXX S000038448 C000118599 C000118600 C000118601 BlackRock Funds 811-05742 0000844779 549300OZUEVJZHOBFP42 100 Bellevue Parkway Wilmington 19809 800-441-7762 BlackRock Real Estate Securities Fund S000038448 549300619RPPBQL8JR35 2021-01-31 2020-07-31 N 229657655.47 681962.06 228975693.41 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1166147.41000000 N Sun Communities Inc 549300H5GEOJYN41ZG57 866674104 54052.00000000 NS USD 8104016.36000000 3.539247436839 Long EC CORP US N 1 N N N Equinix Inc 549300EVUN2BTLJ3GT74 29444U700 29630.00000000 NS USD 23273772.40000000 10.16429825078 Long EC CORP US N 1 N N N Welltower Inc T6IZ0MBEG5ACZDTR7D06 95040Q104 174921.00000000 NS USD 9368768.76000000 4.091599689240 Long EC CORP US N 1 N N N Rexford Industrial Realty Inc 549300MSLO0DF0EMX355 76169C100 217577.00000000 NS USD 10210888.61000000 4.459376651702 Long EC CORP US N 1 N N N Life Storage Inc W9EE01AFDDF9DQCQZC68 53223X107 36047.00000000 NS USD 3537292.11000000 1.544833015819 Long EC CORP US N 1 N N N Prologis Inc 529900DFH19P073LZ636 74340W103 247877.00000000 NS USD 26131193.34000000 11.41221277719 Long EC CORP US N 1 N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 1.00000000 NC USD -1794.33000000 -0.00078363339 N/A DFE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 -937000.00000000 EUR 1103727.91000000 USD 2020-10-15 -1794.33000000 N N N CareTrust REIT Inc 5493001NVXE2B9GPLU96 14174T107 80604.00000000 NS USD 1452484.08000000 0.634339854317 Long EC CORP US N 1 N N N Apple Hospitality REIT Inc 549300EVZAR0FBZO4F16 03784Y200 182770.00000000 NS USD 1612031.40000000 0.704018568955 Long EC CORP US N 1 N N N RLJ Lodging Trust N/A 74965L101 281544.00000000 NS USD 2255167.44000000 0.984893814018 Long EC CORP US N 1 N N N American Campus Communities In 529900MR3ZXRO3W6UX26 024835100 31283.00000000 NS USD 1114926.12000000 0.486918984017 Long EC CORP US N 1 N N N Federal Realty Investment Trus 549300LI6XZ51GOCJ427 313747206 44071.00000000 NS USD 3362617.30000000 1.468547709113 Long EC CORP US N 1 N N N Equity Residential 5493008RACSH5EP3PI59 29476L107 161239.00000000 NS USD 8647247.57000000 3.776491487468 Long EC CORP US N 1 N N N Omega Healthcare Investors Inc 549300OJ7ENK42CZ8E73 681936100 98154.00000000 NS USD 3178226.52000000 1.388019170361 Long EC CORP US N 1 N N N Cousins Properties Inc 5493007XPYD5EJABN062 222795502 168461.00000000 NS USD 5175121.92000000 2.260118461889 Long EC CORP US N 1 N N N VICI Properties Inc 254900RKH6RY9KCJQH63 925652109 378161.00000000 NS USD 8209875.31000000 3.585478959681 Long EC CORP US N 1 N N N BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO 5493002L9DNZ83RX7V61 09248U718 2919740.81000000 NS USD 2919740.81000000 1.275131332290 Long STIV RF US N 1 N N N Switch Inc 549300EZ98N5Y55J4X37 87105L104 122485.00000000 NS USD 2203505.15000000 0.962331467233 Long EC CORP US N 1 N N N Regency Centers Corp 529900053A7X7FJ97S58 758849103 98360.00000000 NS USD 4035710.80000000 1.762506203125 Long EC CORP US N 1 N N N Extra Space Storage Inc N/A 30225T102 91097.00000000 NS USD 9413963.98000000 4.111337688207 Long EC CORP US N 1 N N N Pebblebrook Hotel Trust 5493004Q1NNH6JXCSI52 70509V100 161540.00000000 NS USD 1712324.00000000 0.747819113242 Long EC CORP US N 1 N N AvalonBay Communities Inc K9G90K85RBWD2LAGQX17 053484101 9917.00000000 NS USD 1518491.04000000 0.663166914088 Long EC CORP US N 1 N N N MORGAN STANLEY & CO. INTERNATIONAL PLC 4PQUHN3JPFGFNF3BB653 000000000 1.00000000 NC USD -31956.16000000 -0.01395613635 N/A DE CORP GB N 2 MORGAN STANLEY & CO. INTERNATIONAL PLC 4PQUHN3JPFGFNF3BB653 Custom Equity Basket BRFRESC_INDEX Custom Equity Basket Y Default Event CFD EQUITY BASKET 2023-06-07 0.00000000 USD 0.00000000 USD 2216420.96000000 USD -31956.16000000 N N N UDR Inc P3CH2EG5X6Z1XWU1OO74 902653104 179784.00000000 NS USD 6508180.80000000 2.842302037861 Long EC CORP US N 1 N N N STAG Industrial Inc 549300QWYX2W6FASVQ07 85254J102 116217.00000000 NS USD 3788674.20000000 1.654618507133 Long EC CORP US N 1 N N N Cellnex Telecom SA 5493008T4YG3AQUI7P67 000000000 16349.00000000 NS 68367.18000000 0.029857832934 Long CORP ES N 1 N N N Mid-America Apartment Communit 549300FQZKFR5YNSHZ21 59522J103 79533.00000000 NS USD 9479538.27000000 4.139975789057 Long EC CORP US N 1 N N N SBA Communications Corp 5299001HX8ZN8Y8QIT49 78410G104 3761.00000000 NS USD 1171701.94000000 0.511714550374 Long EC CORP US N 1 N N N Simon Property Group Inc 529900GQL5X8H7AO3T64 828806109 101052.00000000 NS USD 6300592.20000000 2.751642371366 Long EC CORP US N 1 N N N Spirit Realty Capital Inc 549300LTU6LVPZSHMJ25 84860W300 171673.00000000 NS USD 5915851.58000000 2.583615532242 Long EC CORP US N 1 N N N Healthpeak Properties Inc PZ9HF5U52KPF0MH0QN75 42250P103 177286.00000000 NS USD 4838134.94000000 2.112946954302 Long EC CORP US N 1 N N N CyrusOne Inc 5493006S177ZK2ZNBU43 23283R100 46316.00000000 NS USD 3863680.72000000 1.687375922946 Long EC CORP US N 1 N N N Digital Realty Trust Inc 549300HKCZ31D08NEI41 253868103 56265.00000000 NS USD 9032783.10000000 3.944865485711 Long EC CORP US N 1 N N N Healthcare Trust of America In 549300L0I14L7I0VLX84 42225P501 101352.00000000 NS USD 2798328.72000000 1.222107324286 Long EC CORP US N 1 N N N American Homes 4 Rent 549300ZJUO7A58PNUW40 02665T306 238229.00000000 NS USD 6908641.00000000 3.017194051086 Long EC CORP US N 1 N N EPR Properties 549300YSSXFHMPOWZ492 26884U109 139809.00000000 NS USD 4002731.67000000 1.748103307556 Long EC CORP US N 1 N N N Alexandria Real Estate Equitie MGCJBT4MKTQBVLNUIS88 015271109 55549.00000000 NS USD 9862724.95000000 4.307323979729 Long EC CORP US N 1 N N N Boston Properties Inc 549300OF70FSEUQBT254 101121101 90809.00000000 NS USD 8090173.81000000 3.533202013505 Long EC CORP US N 1 N N N Hudson Pacific Properties Inc N/A 444097109 142678.00000000 NS USD 3362920.46000000 1.468680107446 Long EC CORP US N 1 N N N MONEY MARKET SERIES LLC N/A 000000000 295391.81900000 NS USD 295569.05000000 0.129083155333 Long STIV RF US N N/A N N VEREIT Inc 5493002H54FNIBW75H44 92339V100 585007.00000000 NS USD 3808395.57000000 1.663231373288 Long EC CORP US N 1 N N N Ensign Group Inc/The 5493003K4HEEA8Q0BC72 29358P101 16765.00000000 NS USD 771022.35000000 0.336726723486 Long EC CORP US N 1 N N N Cellnex Telecom SA 5493008T4YG3AQUI7P67 000000000 16349.00000000 NS 1028917.02000000 0.449356438090 Long EC CORP ES N 2 N N N 2020-09-24 BlackRock Funds Ann Frechette Ann Frechette Assistant Treasurer