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bfii:ISharesSecuritizedIncomeActiveETFMember 2026-03-31 0001398078 bfii:C000166013Member bfii:ISharesUSEquityFactorRotationActiveETFMember 2026-03-31 0001398078 us-gaap:ShortTermInvestmentsMember bfii:C000166013Member 2026-03-31 iso4217:USD pure bfii:Holding 0001398078 false N-1A N-CSRS BlackRock Funds II 2026-03-31 BlackRock 20/80 Target Allocation Fund Institutional Shares BICPX This semi-annual shareholder report contains important information about BlackRock 20/80 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>2<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.04<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 2 0.0004 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>441,174,134</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">38<span>%</span></td> </tr> </table> 441174134 20 0.38 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">77.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">22.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.775 0.224 0.001 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.171 0.121 0.101 0.100 0.061 0.061 0.060 0.050 0.040 0.038 BlackRock 20/80 Target Allocation Fund Investor A Shares BACPX This semi-annual shareholder report contains important information about BlackRock 20/80 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>19<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.38<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 19 0.0038 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>441,174,134</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">38<span>%</span></td> </tr> </table> 441174134 20 0.38 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">77.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">22.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.775 0.224 0.001 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.171 0.121 0.101 0.100 0.061 0.061 0.060 0.050 0.040 0.038 BlackRock 20/80 Target Allocation Fund Investor C Shares BCCPX This semi-annual shareholder report contains important information about BlackRock 20/80 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>56<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.12<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 56 0.0112 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>441,174,134</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">38<span>%</span></td> </tr> </table> 441174134 20 0.38 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">77.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">22.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.775 0.224 0.001 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.171 0.121 0.101 0.100 0.061 0.061 0.060 0.050 0.040 0.038 BlackRock 20/80 Target Allocation Fund Class K Shares BKCPX This semi-annual shareholder report contains important information about BlackRock 20/80 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>1<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.02<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 1 0.0002 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>441,174,134</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">38<span>%</span></td> </tr> </table> 441174134 20 0.38 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">77.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">22.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.775 0.224 0.001 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.171 0.121 0.101 0.100 0.061 0.061 0.060 0.050 0.040 0.038 BlackRock 20/80 Target Allocation Fund Class R Shares BRCPX This semi-annual shareholder report contains important information about BlackRock 20/80 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>35<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.69<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 35 0.0069 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>441,174,134</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">20</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">38<span>%</span></td> </tr> </table> 441174134 20 0.38 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">77.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">22.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.775 0.224 0.001 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core International Aggregate Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Systematic Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">3.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.171 0.121 0.101 0.100 0.061 0.061 0.060 0.050 0.040 0.038 BlackRock 40/60 Target Allocation Fund Institutional Shares BIMPX This semi-annual shareholder report contains important information about BlackRock 40/60 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>3<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.07<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 3 0.0007 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>782,852,892</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">25</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">32<span>%</span></td> </tr> </table> 782852892 25 0.32 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div><div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div><div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">55.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">42.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.556 0.425 0.019 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.140 0.091 0.081 0.071 0.059 0.058 0.051 0.051 0.048 0.041 BlackRock 40/60 Target Allocation Fund Investor A Shares BAMPX This semi-annual shareholder report contains important information about BlackRock 40/60 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>20<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.41<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 20 0.0041 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>782,852,892</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">25</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">32<span>%</span></td> </tr> </table> 782852892 25 0.32 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">55.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">42.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.556 0.425 0.019 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.140 0.091 0.081 0.071 0.059 0.058 0.051 0.051 0.048 0.041 BlackRock 40/60 Target Allocation Fund Investor C Shares BCMPX This semi-annual shareholder report contains important information about BlackRock 40/60 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>57<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.15<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 57 0.0115 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>782,852,892</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">25</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">32<span>%</span></td> </tr> </table> 782852892 25 0.32 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">55.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">42.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.556 0.425 0.019 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.140 0.091 0.081 0.071 0.059 0.058 0.051 0.051 0.048 0.041 BlackRock 40/60 Target Allocation Fund Class K Shares BKMPX This semi-annual shareholder report contains important information about BlackRock 40/60 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>2<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.05<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 2 0.0005 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>782,852,892</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">25</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">32<span>%</span></td> </tr> </table> 782852892 25 0.32 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">55.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">42.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.556 0.425 0.019 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.140 0.091 0.081 0.071 0.059 0.058 0.051 0.051 0.048 0.041 BlackRock 40/60 Target Allocation Fund Class R Shares BRMPX This semi-annual shareholder report contains important information about BlackRock 40/60 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>28<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.57<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 28 0.0057 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>782,852,892</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">25</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">32<span>%</span></td> </tr> </table> 782852892 25 0.32 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">55.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">42.5</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.556 0.425 0.019 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Flexible Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.140 0.091 0.081 0.071 0.059 0.058 0.051 0.051 0.048 0.041 BlackRock 60/40 Target Allocation Fund Institutional Shares BIGPX This semi-annual shareholder report contains important information about BlackRock 60/40 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>4<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.08<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 4 0.0008 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,022,928,933</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">28<span>%</span></td> </tr> </table> 2022928933 22 0.28 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">61.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">35.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">2.7</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.619 0.354 0.027 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.111 0.091 0.079 0.073 0.067 0.061 0.061 0.061 0.061 0.041 BlackRock 60/40 Target Allocation Fund Investor A Shares BAGPX This semi-annual shareholder report contains important information about BlackRock 60/40 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>21<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.42<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 21 0.0042 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,022,928,933</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">28<span>%</span></td> </tr> </table> 2022928933 22 0.28 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">61.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">35.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">2.7</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.619 0.354 0.027 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.111 0.091 0.079 0.073 0.067 0.061 0.061 0.061 0.061 0.041 BlackRock 60/40 Target Allocation Fund Investor C Shares BCGPX This semi-annual shareholder report contains important information about BlackRock 60/40 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>58<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.16<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 58 0.0116 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,022,928,933</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">28<span>%</span></td> </tr> </table> 2022928933 22 0.28 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">61.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">35.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">2.7</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.619 0.354 0.027 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.111 0.091 0.079 0.073 0.067 0.061 0.061 0.061 0.061 0.041 BlackRock 60/40 Target Allocation Fund Class K Shares BKGPX This semi-annual shareholder report contains important information about BlackRock 60/40 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>3<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.06<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 3 0.0006 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,022,928,933</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">28<span>%</span></td> </tr> </table> 2022928933 22 0.28 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">61.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">35.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">2.7</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.619 0.354 0.027 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.111 0.091 0.079 0.073 0.067 0.061 0.061 0.061 0.061 0.041 BlackRock 60/40 Target Allocation Fund Class R Shares BRGPX This semi-annual shareholder report contains important information about BlackRock 60/40 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>30<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.61<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 30 0.0061 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,022,928,933</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">22</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">28<span>%</span></td> </tr> </table> 2022928933 22 0.28 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">61.9</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">35.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">2.7</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.619 0.354 0.027 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">7.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Strategic Income Opportunities Portfolio, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">6.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Securitized Income Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.111 0.091 0.079 0.073 0.067 0.061 0.061 0.061 0.061 0.041 BlackRock 80/20 Target Allocation Fund Institutional Shares BIAPX This semi-annual shareholder report contains important information about BlackRock 80/20 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Institutional Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>5<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.10<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 5 0.0010 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,354,998,741</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">21</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">34<span>%</span></td> </tr> </table> 2354998741 21 0.34 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">82.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.824 0.160 0.016 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.122 0.118 0.103 0.091 0.087 0.081 0.051 0.041 0.040 0.040 BlackRock 80/20 Target Allocation Fund Investor A Shares BAAPX This semi-annual shareholder report contains important information about BlackRock 80/20 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor A Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>22<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.44<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 22 0.0044 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,354,998,741</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">21</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">34<span>%</span></td> </tr> </table> 2354998741 21 0.34 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">82.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.824 0.160 0.016 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.122 0.118 0.103 0.091 0.087 0.081 0.051 0.041 0.040 0.040 BlackRock 80/20 Target Allocation Fund Investor C Shares BCAPX This semi-annual shareholder report contains important information about BlackRock 80/20 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Investor C Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>59<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">1.19<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 59 0.0119 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,354,998,741</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">21</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">34<span>%</span></td> </tr> </table> 2354998741 21 0.34 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">82.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.824 0.160 0.016 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.122 0.118 0.103 0.091 0.087 0.081 0.051 0.041 0.040 0.040 BlackRock 80/20 Target Allocation Fund Class K Shares BKAPX This semi-annual shareholder report contains important information about BlackRock 80/20 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class K Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>4<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.08<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 4 0.0008 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,354,998,741</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">21</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">34<span>%</span></td> </tr> </table> 2354998741 21 0.34 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">82.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.824 0.160 0.016 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.122 0.118 0.103 0.091 0.087 0.081 0.051 0.041 0.040 0.040 BlackRock 80/20 Target Allocation Fund Class R Shares BRAPX This semi-annual shareholder report contains important information about BlackRock 80/20 Target Allocation Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span style="color: rgb(0, 0, 0); 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-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What were the Fund costs for the last six months?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin: 0px;">(based on a hypothetical $10,000 investment)</div> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); vertical-align: bottom; text-align: left; padding: 2pt 0 2pt 0;">Class name</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); 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; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; color: rgb(0, 0, 0); font-weight: bold; background-color: rgb(255, 206, 0); text-align: center; vertical-align: bottom; padding: 2pt 0 2pt 0;">Costs paid as a percentage of a <br/>$10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); overflow-x: hidden; vertical-align: bottom; font-size: 8pt; line-height: 10pt; text-align: left; padding: 4pt 0 2pt 0;">Class R Shares</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;"><span style="float: none;">$</span>30<span style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); vertical-align: bottom; text-align: center; font-size: 8pt; line-height: 10pt; white-space: nowrap; padding: 4pt 0 2pt 0;">0.60<span>%</span><sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)(b)</sup></td> </tr> </table> <table style="page-break-inside: avoid; margin-top: 2pt; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); vertical-align: top; text-indent: 0; width: 100%; padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</div> </td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; color: rgb(0, 0, 0); width: initial; vertical-align: top; text-indent: 0; padding: 0 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="line-height: 0px; font-size: 6pt; vertical-align: super;">(b)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; margin-bottom: 0; line-height: 9pt; font-family: 'Arial'; font-style: normal; font-size: 7pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); width: 100%; padding: 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Annualized.</div> </td> </tr> </table> 30 0.0060 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;">Key Fund statistics</div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;"><span style="float: none;">$</span>2,354,998,741</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 0 6pt;">21</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; overflow-x: hidden; font-family: 'Arial'; color: rgb(0, 0, 0); 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; color: rgb(0, 0, 0); white-space: nowrap; font-size: 8pt; line-height: 10pt; width: 12%; vertical-align: bottom; padding: 1.6pt 6pt 1.6pt 6pt;">34<span>%</span></td> </tr> </table> 2354998741 21 0.34 <div style="font-kerning: none; font-family: 'arial'; font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0); margin: 0px 0px -0.18pt 0px;">What did the Fund invest in?</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; text-align: justify; color: rgb(0, 0, 0); font-size: 9pt; line-height: 11.4pt; margin: 0px;">(as of March 31, 2026)</div> <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Portfolio composition</b></div> <table style="page-break-inside: avoid; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; font-weight: normal; text-align: left; vertical-align: bottom; text-indent: -6pt; width: auto; padding: 1.6pt 0 0 6pt;">Investment Type</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;">Percent of Total<br/>Investments</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 6pt;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Equity Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">82.4</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">Fixed-Income Funds</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">16.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">Short-Term Securities</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">1.6</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); text-align: left; white-space: nowrap; width: auto; font-family: 'Arial'; font-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="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.824 0.160 0.016 <div style="font-family: 'arial'; font-weight: bold; font-size: 10pt; text-align: left; letter-spacing: normal; text-transform: none; font-kerning: none; color: rgb(0, 0, 0); background-color: rgb(255, 206, 0); border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt; padding: 2pt 0px 1.5pt 0px; margin: 0px;"><b>Ten largest holdings</b></div> <table style="break-inside: avoid-page; page-break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; margin-top: 0px;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: italic; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; 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</em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"><em>Percent of Total<br/>Investments<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></em></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; font-family: 'Arial'; line-height: 11pt; color: rgb(0, 0, 0); width: auto; text-align: left; font-size: 8pt; white-space: nowrap; vertical-align: bottom; padding: 1.6pt 0 0 0;"></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">International Tilts Master Portfolio<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">12.2</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-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="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core S&amp;P 500 ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">11.8</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Value ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">10.3</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares U.S. Equity Factor Rotation Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">9.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares S&amp;P 500 Growth ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares Core MSCI Emerging Markets ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 2pt 0 0 0;">8.1</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">BlackRock Total Return Fund, <span style="white-space: nowrap;">Class K</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares MSCI U.S.A. Quality Factor ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; font-weight: normal; text-align: left; width: 100%; vertical-align: bottom; text-indent: -6pt; padding: 1.6pt 0 0 6pt;">iShares 10-20 Year Treasury Bond ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; font-style: 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="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding: 1.6pt 0 0 0;"><span style="visibility: hidden; margin-left: -7pt;">%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; font-family: 'arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-kerning: none; color: rgb(0, 0, 0); overflow-x: hidden; font-family: 'Arial'; font-style: normal; font-size: 8pt; line-height: 10pt; border-bottom-color: initial; border-bottom-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;">iShares Large Cap Core Active ETF<span style="white-space: nowrap;"></span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: bottom; font-kerning: none; color: rgb(0, 0, 0); width: auto; font-family: 'Arial'; 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;">4.0</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; vertical-align: bottom; font-kerning: none; text-align: left; color: rgb(0, 0, 0); white-space: nowrap; width: auto; font-family: 'Arial'; font-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="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; width: 100%; break-inside: avoid; margin-top: 0px;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); padding: 1.6pt 6pt 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">​<sup style="vertical-align: 0.5em; font-size: smaller; line-height: 0px;">(a)</sup></div> </td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; 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: rgb(0, 0, 0); width: 100%; padding: 1.6pt 0 0 0;"> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; font-style: normal; font-size: 7pt; line-height: 9pt; text-align: justify; vertical-align: top; color: rgb(0, 0, 0); padding: 0px; margin: 0px;">Excludes short-term securities.</div> </td> </tr> </table> 0.122 0.118 0.103 0.091 0.087 0.081 0.051 0.041 0.040 0.040 Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Excludes short-term securities. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Annualized. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized. Excludes short-term securities. Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. Annualized.