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      <invstOrSec>
        <name>FREQUENCY THERAPEUTICS CVR</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Kymera Therapeutics Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CVS Health Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CAREMAX INC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Alcon AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GOLDFINCH BIO INC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Danaher Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HCA Healthcare Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>INSITRO INC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>LARONDE INC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>INTUITIVE SURGICAL INC</name>
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        <name>BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO</name>
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        <name>Daiichi Sankyo Co Ltd</name>
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        <name>BioNTech SE</name>
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        <name>Allogene Therapeutics Inc</name>
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        <name>STRYKER CORP</name>
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        <name>Moderna Inc</name>
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        <title>Moderna Inc</title>
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        <name>SWIFT HEALTH SYSTEMS INC</name>
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      <invstOrSec>
        <name>Biohaven Ltd</name>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co</name>
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      <invstOrSec>
        <name>McKesson Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AC Immune SA</name>
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        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Stoke Therapeutics Inc</name>
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        <name>STERIS PLC</name>
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      <invstOrSec>
        <name>KARTOS THERAPEUTICS INC</name>
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        <name>STRUCTURE THERAPEUTICS INC</name>
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        <name>AbbVie Inc</name>
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        <name>Voyager Therapeutics Inc</name>
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        <name>Edwards Lifesciences Corp</name>
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        <name>West Pharmaceutical Services I</name>
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        <name>Ascendis Pharma A/S</name>
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        <name>Labcorp Holdings Inc</name>
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        <name>BOSTON SCIENTIFIC CORP</name>
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        <name>Nuvalent Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Galderma Group AG</name>
        <lei>89450001OK6O8ELQ4584</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cigna Group/The</name>
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          <isin value="US1255231003"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ionis Pharmaceuticals Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Legend Biotech Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Glaukos Corp</name>
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      <invstOrSec>
        <name>Disc Medicine Inc</name>
        <lei>N/A</lei>
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          <isin value="US2546041011"/>
          <ticker value="IRON"/>
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      <invstOrSec>
        <name>Roivant Sciences Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Beam Therapeutics Inc</name>
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          <isin value="US07373V1052"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Dexcom Inc</name>
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        <name>IDEXX Laboratories Inc</name>
        <lei>OGMTXK0LUU1HKV2P0J84</lei>
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        <name>BlackRock Cash Funds - Institutional</name>
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          <isin value="US0669225197"/>
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        <name>Cooper Cos Inc/The</name>
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        <name>QUANTA DIALYSIS TECHNOLOGIES LTD</name>
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        <name>Waters Corp</name>
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        <name>Orchestra BioMed Holdings Inc</name>
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        <name>Centene Corp</name>
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        <name>Inspire Medical Systems Inc</name>
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        <name>Xenon Pharmaceuticals Inc</name>
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        <name>UNITEDHEALTH GROUP INC</name>
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        <name>Protagonist Therapeutics Inc</name>
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        <name>Novocure Ltd</name>
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        <name>CELLARITY INC</name>
        <lei>N/A</lei>
        <title>CELLARITY INC</title>
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      <invstOrSec>
        <name>Sanofi SA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PFIZER INC</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Repligen Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TScan Therapeutics Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GE HealthCare Technologies Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Blueprint Medicines Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Scholar Rock Holding Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Exelixis Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AMGEN INC</name>
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          <isin value="US0311621009"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Alnylam Pharmaceuticals Inc</name>
        <lei>529900S3ZI14OWRJII50</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>ZOETIS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bridgebio Pharma Inc</name>
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        <name>UCB SA</name>
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        <name>Denali Therapeutics Inc</name>
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        <name>Zealand Pharma A/S</name>
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        <name>4D Molecular Therapeutics Inc</name>
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        <name>Summit Therapeutics Inc</name>
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        <name>ELI LILLY &amp; CO</name>
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        <name>MoonLake Immunotherapeutics</name>
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        <name>CG oncology Inc</name>
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        <name>Guardant Health Inc</name>
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        <name>Metsera Inc</name>
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        <name>AFFERENT PHARMACEUTICAL</name>
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        <title>AFFERENT PHARMACEUTICAL</title>
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        <assetCat>EP</assetCat>
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        <name>Nyxoah SA</name>
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          <isin value="BE0974358906"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Helix Acquisition Corp II</name>
        <lei>N/A</lei>
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          <isin value="KYG4444H1011"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Agilent Technologies Inc</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
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          <isin value="US00846U1016"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Insulet Corp</name>
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          <isin value="US45784P1012"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MERCK &amp; CO INC</name>
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          <isin value="US58933Y1055"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PTC Therapeutics Inc</name>
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          <isin value="US69366J2006"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Teva Pharmaceutical Industries</name>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Prothena Corp PLC</name>
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        <invCountry>IE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Insmed Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABBOTT LABORATORIES</name>
        <lei>HQD377W2YR662HK5JX27</lei>
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          <isin value="US0028241000"/>
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      <invstOrSec>
        <name>Bio-Techne Corp</name>
        <lei>54930073RLKQ51TILZ35</lei>
        <title>Bio-Techne Corp</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXO IMAGING INC</name>
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        <assetCat>EP</assetCat>
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      <invstOrSec>
        <name>ABIOMED Inc</name>
        <lei>N/A</lei>
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        <name>Rhythm Pharmaceuticals Inc</name>
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        <name>BIOMARIN PHARMACEUTICAL INC</name>
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        <name>Penumbra Inc</name>
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        <name>Exact Sciences Corp</name>
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        <name>Mettler-Toledo International I</name>
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        <name>Argenx SE</name>
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        <name>Natera Inc</name>
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        <name>AFFINIVAX INC</name>
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        <name>Viking Therapeutics Inc</name>
        <lei>529900IVC72YPFA25M37</lei>
        <title>Viking Therapeutics Inc</title>
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        <name>Hologic Inc</name>
        <lei>549300DYP6F5ZJL0LB74</lei>
        <title>Hologic Inc</title>
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        <name>Merus NV</name>
        <lei>549300W8GPUWU8QNU293</lei>
        <title>Merus NV</title>
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          <isin value="NL0011606264"/>
          <ticker value="MRUS"/>
          <other otherDesc="SEDOL" value="BZBY005"/>
        </identifiers>
        <balance>230676.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12934003.32000000</valUSD>
        <pctVal>0.200484636515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WaVe Life Sciences Ltd</name>
        <lei>54930070006GPKFYZ813</lei>
        <title>WaVe Life Sciences Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG9999014716"/>
          <ticker value="WVE"/>
          <other otherDesc="SEDOL" value="BYZG9R0"/>
        </identifiers>
        <balance>252070.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1514940.70000000</valUSD>
        <pctVal>0.023482469276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGENXBIO Inc</name>
        <lei>549300EOES47LATSET33</lei>
        <title>REGENXBIO Inc</title>
        <cusip>75901B107</cusip>
        <identifiers>
          <isin value="US75901B1070"/>
          <ticker value="RGNX"/>
        </identifiers>
        <balance>247495.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2190330.75000000</valUSD>
        <pctVal>0.033951411129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cencora Inc</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora Inc</title>
        <cusip>03073E105</cusip>
        <identifiers>
          <isin value="US03073E1055"/>
          <ticker value="COR"/>
        </identifiers>
        <balance>333871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97236590.04000000</valUSD>
        <pctVal>1.507224169334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARBON HEALTH TECHNOLOGIES INC</name>
        <lei>N/A</lei>
        <title>CARBON HEALTH TECHNOLOGIES INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BYDKAGRS0"/>
        </identifiers>
        <balance>2720276.90561100</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27202.77000000</valUSD>
        <pctVal>0.000421658887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Autolus Therapeutics PLC</name>
        <lei>549300C0KZP8EYROLL02</lei>
        <title>Autolus Therapeutics PLC</title>
        <cusip>05280R100</cusip>
        <identifiers>
          <isin value="US05280R1005"/>
          <ticker value="AUTL"/>
        </identifiers>
        <balance>850117.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1487704.75000000</valUSD>
        <pctVal>0.023060296078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="291900.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXO IMAGING INC</name>
        <lei>N/A</lei>
        <title>EXO IMAGING INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BYDK80T56"/>
        </identifiers>
        <balance>19083.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6967.20000000</valUSD>
        <pctVal>0.000107995685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELEVANCE HEALTH INC</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELEVANCE HEALTH INC</title>
        <cusip>036752103</cusip>
        <identifiers>
          <isin value="US0367521038"/>
          <ticker value="ELV"/>
        </identifiers>
        <balance>279607.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>107324350.88000000</valUSD>
        <pctVal>1.663590378251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AstraZeneca PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
          <ticker value="AZN"/>
          <other otherDesc="SEDOL" value="0989529"/>
        </identifiers>
        <balance>324659.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74219764"/>
        <valUSD>47557369.88000000</valUSD>
        <pctVal>0.737167122825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medtronic PLC</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
          <ticker value="MDT"/>
          <other otherDesc="SEDOL" value="BTN1Y11"/>
        </identifiers>
        <balance>1992642.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>165349433.16000000</valUSD>
        <pctVal>2.563013181993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alkermes PLC</name>
        <lei>N/A</lei>
        <title>Alkermes PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B56GVS15"/>
          <ticker value="ALKS"/>
          <other otherDesc="SEDOL" value="B3P6D26"/>
        </identifiers>
        <balance>169810.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5197884.10000000</valUSD>
        <pctVal>0.080570251812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIRATI THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>MIRATI THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MRTX"/>
          <other otherDesc="INTERNAL" value="604CVR027"/>
        </identifiers>
        <balance>228510.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>169097.40000000</valUSD>
        <pctVal>0.002621108865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="154825.76000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vir Biotechnology Inc</name>
        <lei>N/A</lei>
        <title>Vir Biotechnology Inc</title>
        <cusip>92764N102</cusip>
        <identifiers>
          <isin value="US92764N1028"/>
          <ticker value="VIR"/>
        </identifiers>
        <balance>272240.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1344865.60000000</valUSD>
        <pctVal>0.020846205486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADARX PHARMACEUTICALS INC</name>
        <lei>N/A</lei>
        <title>ADARX PHARMACEUTICALS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYLU84N2"/>
        </identifiers>
        <balance>769230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8738452.80000000</valUSD>
        <pctVal>0.135451143004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dyne Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>Dyne Therapeutics Inc</title>
        <cusip>26818M108</cusip>
        <identifiers>
          <isin value="US26818M1080"/>
          <ticker value="DYN"/>
        </identifiers>
        <balance>322438.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3856358.48000000</valUSD>
        <pctVal>0.059775817974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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



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


    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-07-24</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
