Security
Shares
Value
a
Common
Stocks
Communications
Equipment
—
13
.5
%
Accton
Technology
Corp.
...................
1,021,000
$
74,774,508
Calix,
Inc.
(a)
(b)
............................
595,524
25,941,025
100,715,533
a
IT
Services
—
13
.3
%
Akamai
Technologies,
Inc.
(a)
..................
386,392
39,790,648
NCC
Group
PLC
.........................
2,628,173
4,272,169
Netcompany
Group
A.S.
(a)
(b)
(c)
.................
433,268
24,750,526
Okta,
Inc.
,
Class
A
(a)
.......................
375,663
27,667,580
Protean
eGov
Technologies
Ltd.
...............
393,068
2,207,557
98,688,480
a
Professional
Services
—
13
.3
%
Booz
Allen
Hamilton
Holding
Corp.
,
Class
A
.......
366,551
28,506,672
CACI
International,
Inc.
,
Class
A
(a)
(b)
............
54,172
28,144,521
Science
Applications
International
Corp.
.........
320,743
31,038,300
Zetrix
Ai
Bhd
(b)
...........................
55,092,200
11,409,402
99,098,895
a
Software
—
59
.7
%
A10
Networks,
Inc.
........................
732,831
19,551,931
Alarm.com
Holdings,
Inc.
(a)
..................
498,383
22,133,189
Allot
Ltd.
(a)
(b)
............................
387,997
2,847,898
BlackBerry
Ltd.
(a)
(b)
........................
6,228,309
33,701,234
Check
Point
Software
Technologies
Ltd.
(a)
........
166,978
18,780,016
Clear
Secure,
Inc.
,
Class
A
..................
938,401
50,101,229
Crowdstrike
Holdings,
Inc.
,
Class
A
(a)
............
63,038
28,099,189
Cyberark
Software
Ltd.
(a)
....................
67,161
3,022,245
Digital
Arts,
Inc.
..........................
106,400
3,803,648
Fortinet,
Inc.
(a)
...........................
371,185
31,294,607
GB
Group
PLC
..........................
2,483,496
7,181,260
Gorilla
Technology
Group,
Inc.
(a)
(b)
..............
228,761
3,328,473
Netskope,
Inc.
,
Class
A
(a)
(b)
..................
560,969
5,587,251
OneSpan,
Inc.
...........................
393,154
4,552,723
Palo
Alto
Networks,
Inc.
(a)
...................
162,242
29,093,235
Qoria
Ltd.
(a)
.............................
11,336,514
2,447,424
Security
Shares
Value
a
Software
(continued)
Qualys,
Inc.
(a)
...........................
220,724
$
19,187,537
Radware
Ltd.
(a)
(b)
.........................
361,437
9,686,512
Rapid7,
Inc.
(a)
...........................
660,758
3,898,472
SailPoint,
Inc.
(a)
(b)
.........................
576,436
6,582,899
SentinelOne,
Inc.
,
Class
A
(a)
..................
2,222,173
31,465,970
TeamViewer
SE
(a)
(c)
.......................
1,570,759
8,776,403
Tenable
Holdings,
Inc.
(a)
(b)
...................
1,221,148
25,509,782
Trend
Micro,
Inc.
.........................
699,500
24,348,164
Varonis
Systems,
Inc.
(a)
.....................
1,068,721
28,107,362
Xunlei
Ltd.
,
ADR
(a)
(b)
.......................
658,860
4,005,869
Zscaler,
Inc.
(a)
...........................
132,877
17,364,366
444,458,888
a
Total
Long-Term
Investments — 99.8%
(Cost:
$
723,968,607
)
................................
742,961,796
a
Short-Term
Securities
Money
Market
Funds
—
7
.4
%
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
3.83
%
(d)
(e)
(f)
......................
54,529,205
54,545,564
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
,
3.61
%
(d)
(e)
............................
534,294
534,294
a
Total
Short-Term
Securities — 7.4%
(Cost:
$
55,074,862
)
.................................
55,079,858
Total
Investments
—
107.2%
(Cost:
$
779,043,469
)
................................
798,041,654
Liabilities
in
Excess
of
Other
Assets
—
(
7
.2
)
%
...............
(
53,712,892
)
Net
Assets
—
100.0%
.................................
$
744,328,762
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
this
security
is
on
loan.
(c)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration
to
qualified
institutional
investors.
(d)
Affiliate
of
the
Fund.
(e)
Annualized
7-day
yield
as
of
period
end.
(f)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the
period
ended
April
30,
2026
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
07/31/25
Purchases
at
Cost
Proceeds
from
Sale
s
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
04/30/26
Shares
Held
at
04/30/26
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
$
52,403,496
$
2,140,941
(a)
$
—
$
(
3,869
)
$
4,996
$
54,545,564
54,529,205
$
155,779
(b)
$
—
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
560,000
—
(
25,706
)
(a)
—
—
534,294
534,294
17,418
—
$
—
$
(
3,869
)
$
4,996
$
55,079,858
$
173,197
$
—
(a)
Represents
net
amount
purchased
(sold).
(b)
All
or
a
portion
represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
collateral
investment
fees,
and
other
payments
to
and
from
borrowers
of
securities.