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      <invstOrSec>
        <name>Xylem, Inc.</name>
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      <invstOrSec>
        <name>YDUQS Participacoes SA</name>
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      <invstOrSec>
        <name>Katitas Co. Ltd.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Vestas Wind Systems A/S</name>
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        <invCountry>DK</invCountry>
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      <invstOrSec>
        <name>Danaher Corp.</name>
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      <invstOrSec>
        <name>Boston Scientific Corp.</name>
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      <invstOrSec>
        <name>Koninklijke Philips NV</name>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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      <invstOrSec>
        <name>Royalty Pharma plc</name>
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        <invCountry>GB</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>Sun Communities, Inc.</name>
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        <balance>4359.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Jack Henry &amp; Associates, Inc.</name>
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      <invstOrSec>
        <name>Aptiv plc</name>
        <lei>N/A</lei>
        <title>Aptiv plc</title>
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        <balance>7140.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>JE</invCountry>

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      <invstOrSec>
        <name>KakaoBank Corp.</name>
        <lei>N/A</lei>
        <title>KakaoBank Corp.</title>
        <cusip>N/A</cusip>
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          <isin value="KR7323410001"/>
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        <balance>2274.00000000</balance>
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        <invCountry>KR</invCountry>
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        <name>TPG Pace Tech Opportunities Corp.</name>
        <lei>N/A</lei>
        <title>TPG Pace Tech Opportunities Corp., Class A</title>
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        <assetCat>EC</assetCat>
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        <name>ICF International, Inc.</name>
        <lei>5493003KYFDDC5B3WY64</lei>
        <title>ICF International, Inc.</title>
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        <name>Schneider Electric SE</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>Schneider Electric SE</title>
        <cusip>N/A</cusip>
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        <invCountry>FR</invCountry>

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      <invstOrSec>
        <name>Mimecast Ltd.</name>
        <lei>254900ELSYFSTT9X2740</lei>
        <title>Mimecast Ltd.</title>
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        <invCountry>JE</invCountry>

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        <name>Atlantic Sapphire ASA</name>
        <lei>2138007BY85FI48VX666</lei>
        <title>Atlantic Sapphire ASA</title>
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      <invstOrSec>
        <name>First Solar, Inc.</name>
        <lei>549300NPYMLM4NHTOF27</lei>
        <title>First Solar, Inc.</title>
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      <invstOrSec>
        <name>17 Education &amp; Technology Group, Inc.</name>
        <lei>N/A</lei>
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        <name>Veeva Systems, Inc.</name>
        <lei>549300YZEXPDB92M2F02</lei>
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      <invstOrSec>
        <name>Shionogi &amp; Co. Ltd.</name>
        <lei>35380049VXDTHZI3DY35</lei>
        <title>Shionogi &amp; Co. Ltd.</title>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Darling Ingredients, Inc.</name>
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      <invstOrSec>
        <name>Bank Rakyat Indonesia Persero Tbk. PT</name>
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      <invstOrSec>
        <name>1Life Healthcare, Inc.</name>
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        <name>EVgo, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Samsung SDI Co. Ltd.</name>
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        <name>EDP Renovaveis SA</name>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Everbridge, Inc.</name>
        <lei>549300WCY0UMR64ATW81</lei>
        <title>Everbridge, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Grocery Outlet Holding Corp.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>M3, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bandhan Bank Ltd.</name>
        <lei>335800Q13QAC32IOCH33</lei>
        <title>Bandhan Bank Ltd.</title>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Koninklijke DSM NV</name>
        <lei>724500SNT1MK246AHP04</lei>
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      <invstOrSec>
        <name>LEG Immobilien SE</name>
        <lei>391200SO40AKONBO0Z96</lei>
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        <invCountry>DE</invCountry>
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        <name>Nexity SA</name>
        <lei>969500JJ71T2DIPDVV84</lei>
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        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>Peridot Acquisition Corp.</name>
        <lei>N/A</lei>
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          <isin value="KYG7008A1159"/>
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        <name>TransAlta Renewables, Inc.</name>
        <lei>529900U45A1JKZFABZ35</lei>
        <title>TransAlta Renewables, Inc.</title>
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        <name>Itron, Inc.</name>
        <lei>24F6LSZD18II6ICG6S41</lei>
        <title>Itron, Inc.</title>
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        <name>View, Inc.</name>
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        <title>View, Inc.</title>
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        <name>Oak Street Health, Inc.</name>
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        <name>Duolingo, Inc.</name>
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        <name>Takeda Pharmaceutical Co. Ltd.</name>
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        <name>Cano Health, Inc.</name>
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        <name>BlackRock Liquidity Funds</name>
        <lei>5493002L9DNZ83RX7V61</lei>
        <title>T-Fund, Institutional Class</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
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      <invstOrSec>
        <name>EVgo, Inc.</name>
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        <title>EVgo, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AEA-Bridges Impact Corp.</name>
        <lei>N/A</lei>
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          <isin value="KYG010461047"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="KYG010461120"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>AEA-Bridges Impact Corp.</counterpartyName>
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            <putOrCall>Call</putOrCall>
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              <otherRefInst>
                <issuerName>AEA-Bridges Impact Corp.</issuerName>
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      <invstOrSec>
        <name>Orsted A/S</name>
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          <isin value="DK0060094928"/>
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        <balance>4895.00000000</balance>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Invitae Corp.</name>
        <lei>549300MYI59DZW1WIX92</lei>
        <title>Invitae Corp.</title>
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          <isin value="US46185L1035"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MercadoLibre, Inc.</name>
        <lei>549300DKPDN9M5S8GB14</lei>
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          <isin value="US58733R1023"/>
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        <balance>728.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Brookfield Renewable Corp.</name>
        <lei>N/A</lei>
        <title>Brookfield Renewable Corp.</title>
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          <isin value="CA11284V1058"/>
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        <balance>29009.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Shopify, Inc.</name>
        <lei>549300HGQ43STJLLP808</lei>
        <title>Shopify, Inc., Class A</title>
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          <isin value="CA82509L1076"/>
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        <balance>618.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Safaricom plc</name>
        <lei>N/A</lei>
        <title>Safaricom plc</title>
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          <isin value="KE1000001402"/>
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        <balance>3371489.00000000</balance>
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        <invCountry>KE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chegg, Inc.</name>
        <lei>549300AKX7O8JG0O3G77</lei>
        <title>Chegg, Inc.</title>
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          <isin value="US1630921096"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
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          <isin value="SE0001174970"/>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>China Feihe Ltd.</name>
        <lei>N/A</lei>
        <title>China Feihe Ltd.</title>
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          <isin value="KYG2121Q1055"/>
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        <balance>334000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.77115000"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Software Acquisition Group, Inc. II</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Avangrid, Inc.</name>
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        <title>Avangrid, Inc.</title>
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        <name>SL Liquidity Series, LLC</name>
        <lei>549300I0RQO84VDWQP47</lei>
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        <fairValLevel>N/A</fairValLevel>
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        <name>Genus plc</name>
        <lei>54930022EOITNKSIGH56</lei>
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        <invCountry>GB</invCountry>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Natural Order Acquisition Corp.</title>
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        <name>Alkami Technology, Inc.</name>
        <lei>N/A</lei>
        <title>Alkami Technology, Inc.</title>
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        <name>Pagseguro Digital Ltd.</name>
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        <title>Pagseguro Digital Ltd., Class A</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Square, Inc.</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Square, Inc., Class A</title>
        <cusip>852234103</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
        <cusip>98978V103</cusip>
        <identifiers>
          <isin value="US98978V1035"/>
          <other otherDesc="Inhouse Asset ID" value="98978V103"/>
        </identifiers>
        <balance>10879.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2205173.30000000</valUSD>
        <pctVal>3.843802043184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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

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

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-07-31</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds</ncom:nameOfApplicant>
      <ncom:signature>Ann Frechette</ncom:signature>
      <ncom:signerName>Ann Frechette</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
