{"annotation_id":"a6fd67f1-c11d-482c-ab40-d9e5d0120b0f","file_hash":"8d122290bc7ef77069c434f25dcf343bc5429f4c58791c524f3d082887b2e4ca","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"d5bd3af5-2a5e-4c64-8130-ca4f45cc828a","block_type":"box","text":"SEPTEMBER 28, 2026","page_number":1,"box":{"x":754,"y":47,"width":184,"height":11}},{"id":"3aa49a98-0b16-4c7a-921a-d6e65a5edd37","block_type":"box","text":"Summary Prospectus","page_number":1,"box":{"x":103,"y":175,"width":502,"height":33}},{"id":"04bad6d9-e0a7-4629-89c2-80a91566415f","block_type":"box","text":"BlackRock Large Cap Series Funds, Inc.","page_number":1,"box":{"x":63,"y":297,"width":321,"height":12}},{"id":"7cd55f39-3880-42e0-853f-971ae287dcfd","block_type":"box","text":"|","page_number":1,"box":{"x":394,"y":296,"width":3,"height":11}},{"id":"ccf98ac7-0fef-467a-b9f4-e7bf8c01b22f","block_type":"box","text":"Class K Shares","page_number":1,"box":{"x":407,"y":297,"width":119,"height":9}},{"id":"a5cbe505-31df-4672-ac39-13b6c875f9d2","block_type":"box","text":"•","page_number":1,"box":{"x":63,"y":325,"width":6,"height":4}},{"id":"80d6a076-7e1a-4499-bd18-5c2cae11c401","block_type":"box","text":"BlackRock Advantage Large Cap Core Fund","page_number":1,"box":{"x":84,"y":321,"width":354,"height":12}},{"id":"00503ae9-0f17-47f9-ab8f-58941b5b2e84","block_type":"box","text":"Class K: MLRKX","page_number":1,"box":{"x":83,"y":339,"width":99,"height":7}},{"id":"fb103c79-62e4-49fb-b41c-e8a0f6ad4b21","block_type":"box","text":"Before you invest, you may want to review the Fund’s prospectus, which contains more information about the Fund","page_number":1,"box":{"x":64,"y":379,"width":808,"height":11}},{"id":"e5c0e19c-e260-4db2-bd85-35bd5d6705dd","block_type":"box","text":"and its risks. You can find the Fund’s prospectus (including amendments and supplements), reports to shareholders","page_number":1,"box":{"x":63,"y":394,"width":821,"height":11}},{"id":"0e6ff9e8-c64c-442e-848d-2952659a6d79","block_type":"box","text":"and other information about the Fund, including the Fund’s statement of additional information, online at","page_number":1,"box":{"x":63,"y":410,"width":748,"height":11}},{"id":"d8db2d64-23f6-4042-a30c-0ac568ec76d9","block_type":"box","text":"https://www.blackrock.com/prospectus. You can also get this information at no cost by calling (800) 537-4942 or by","page_number":1,"box":{"x":63,"y":425,"width":825,"height":11}},{"id":"e2c596bf-560d-4b8f-a2cc-8e5c5820dcad","block_type":"box","text":"sending an e-mail request to","page_number":1,"box":{"x":63,"y":441,"width":203,"height":11}},{"id":"f9bafb6b-9a4a-4d25-a051-be8230c14994","block_type":"box","text":"prospectus.request@blackrock.com","page_number":1,"box":{"x":271,"y":441,"width":261,"height":10}},{"id":"4c2eccc5-bfa6-4992-ba52-bc87f220cd22","block_type":"box","text":", or from your financial professional. The Fund’s","page_number":1,"box":{"x":534,"y":441,"width":335,"height":11}},{"id":"5b5698bb-35bc-4d23-8208-46542b39055d","block_type":"box","text":"prospectus and statement of additional information, both dated September 28, 2026, as amended and supplemented","page_number":1,"box":{"x":63,"y":456,"width":831,"height":11}},{"id":"c025b8b7-61b2-4d1b-83b4-158d5ef041e0","block_type":"box","text":"from time to time, are incorporated by reference into (legally made a part of) this Summary Prospectus.","page_number":1,"box":{"x":62,"y":472,"width":729,"height":11}},{"id":"303bebea-4da8-4c38-86d2-d2ad644b5d09","block_type":"box","text":"This Summary Prospectus contains information you should know before investing, including information about","page_number":1,"box":{"x":63,"y":819,"width":774,"height":10}},{"id":"21c55b11-a8e1-400a-8e3f-6ffcf00c57f3","block_type":"box","text":"risks. Please read it before you invest and keep it for future reference.","page_number":1,"box":{"x":63,"y":834,"width":477,"height":11}},{"id":"cc506b68-0c2b-4ade-b1c3-2586b79daa2f","block_type":"box","text":"The Securities and Exchange Commission has not approved or disapproved these securities or passed upon","page_number":1,"box":{"x":63,"y":855,"width":749,"height":11}},{"id":"4bc78224-d268-4e45-a8fe-2acb0a69a6c4","block_type":"box","text":"the adequacy of this Summary Prospectus. Any representation to the contrary is a criminal offense.","page_number":1,"box":{"x":63,"y":870,"width":687,"height":11}},{"id":"196708ab-3034-4ed4-9160-c84d5ec208cc","block_type":"box","text":"Not FDIC Insured","page_number":1,"box":{"x":101,"y":916,"width":112,"height":8}},{"id":"3a6cbf07-830d-4b9d-9c0b-611102805075","block_type":"box","text":"•","page_number":1,"box":{"x":218,"y":919,"width":5,"height":3}},{"id":"5f25f6ae-9021-4553-98f7-ba3944a25317","block_type":"box","text":"May Lose Value","page_number":1,"box":{"x":228,"y":916,"width":101,"height":10}},{"id":"72f5eb90-350c-4812-984f-e089cf6b3ca9","block_type":"box","text":"•","page_number":1,"box":{"x":334,"y":919,"width":4,"height":3}},{"id":"368eea06-0513-4041-9437-56d7f9c72b3a","block_type":"box","text":"No Bank Guarantee","page_number":1,"box":{"x":344,"y":916,"width":127,"height":8}},{"id":"b708cfd0-64e4-4a9c-af60-758763bc4ef6","block_type":"box","text":"NM0926U-5977676-1/8","page_number":1,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"b67568f1-fe2a-4ee6-adad-5d4477b4129a","block_type":"box","text":"Summary Prospectus","page_number":2,"box":{"x":62,"y":47,"width":468,"height":34}},{"id":"82058f0f-e048-473e-a3ed-150f8667aea9","block_type":"box","text":"Key Facts About BlackRock Advantage Large Cap Core Fund","page_number":2,"box":{"x":62,"y":121,"width":548,"height":14}},{"id":"a5220c25-8801-4049-b2c3-1686f2740b0b","block_type":"box","text":"Investment Objective","page_number":2,"box":{"x":62,"y":152,"width":191,"height":14}},{"id":"d3cb3ff4-f553-45b2-bac5-81e5982a8113","block_type":"box","text":"The investment objective of BlackRock Advantage Large Cap Core Fund (the “Fund”), a series of BlackRock Large Cap","page_number":2,"box":{"x":60,"y":178,"width":866,"height":12}},{"id":"3be92bc4-bf2f-451b-a666-624600f946ab","block_type":"box","text":"Series Funds, Inc. (the “Corporation”), is to seek long-term capital growth. In other words, the Fund tries to choose","page_number":2,"box":{"x":61,"y":193,"width":843,"height":12}},{"id":"b1af3095-29d8-4674-a0c6-982e943e9bad","block_type":"box","text":"investments that will increase in value.","page_number":2,"box":{"x":62,"y":208,"width":283,"height":9}},{"id":"167cd7fe-4c1a-4bae-9ff0-bee48202f0a4","block_type":"box","text":"Fees and Expenses of the Fund","page_number":2,"box":{"x":61,"y":247,"width":283,"height":13}},{"id":"9b8aeaba-49d9-475d-9c8c-a728cbc95b9c","block_type":"box","text":"This table describes the fees and expenses that you may pay if you buy, hold and sell Class K Shares of the Fund.","page_number":2,"box":{"x":60,"y":273,"width":839,"height":12}},{"id":"41928dff-652c-4f1c-b16d-f3781cb60861","block_type":"box","text":"Amounts in the table are rounded to the nearest basis point, which in some cases may be “0.00.”","page_number":2,"box":{"x":60,"y":288,"width":724,"height":11}},{"id":"56ab5c23-2fad-4000-b390-09aca8cb45ea","block_type":"box","text":"You may pay other","page_number":2,"box":{"x":790,"y":288,"width":138,"height":11}},{"id":"39817ca8-6103-4263-b2a4-5e34275044d4","block_type":"box","text":"fees, such as brokerage commissions and other fees to your financial professional or your selected securities","page_number":2,"box":{"x":60,"y":303,"width":824,"height":11}},{"id":"0e93937a-6c66-46d3-bda2-1d45c8e8cd20","block_type":"box","text":"dealer, broker, investment adviser, service provider or industry professional (including BlackRock Advisors, LLC","page_number":2,"box":{"x":61,"y":318,"width":835,"height":11}},{"id":"d63f66b0-cbe6-448d-bf02-734f056528b0","block_type":"box","text":"(“BlackRock”) and its affiliates) (each, a “Financial Intermediary”), which are not reflected in the table and","page_number":2,"box":{"x":61,"y":333,"width":813,"height":11}},{"id":"514bdd16-d0f9-42a8-b98c-b28571b34013","block_type":"box","text":"example below.","page_number":2,"box":{"x":61,"y":348,"width":114,"height":11}},{"id":"531e2a8d-c1f1-44cf-84d1-b378993faf7e","block_type":"box","text":"Annual Fund Operating Expenses","page_number":2,"box":{"x":69,"y":384,"width":222,"height":10}},{"id":"13a8985a-9c2a-49d6-9a05-8c4f65bfbf32","block_type":"box","text":"(expenses that you pay each year as a","page_number":2,"box":{"x":69,"y":395,"width":261,"height":11}},{"id":"5195ee19-d4ff-4ef9-a686-7d3c39153f53","block_type":"box","text":"percentage of the value of your investment)","page_number":2,"box":{"x":70,"y":407,"width":294,"height":10}},{"id":"cec0a094-66d6-4a8e-8f13-1230814a72f1","block_type":"box","text":"Class K","page_number":2,"box":{"x":873,"y":395,"width":51,"height":9}},{"id":"b22a4e46-73d6-4dff-8f60-a3304dd31371","block_type":"box","text":"Shares","page_number":2,"box":{"x":875,"y":407,"width":46,"height":8}},{"id":"51e0cfd3-98c6-49e4-b2c1-f07e7e6a71eb","block_type":"box","text":"Management Fee","page_number":2,"box":{"x":70,"y":425,"width":112,"height":10}},{"id":"4cf1d8f6-3140-4815-8b8d-a986a2b93ad7","block_type":"box","text":"1","page_number":2,"box":{"x":183,"y":425,"width":4,"height":4}},{"id":"c2747189-5bf7-428d-98e0-0503c9cfbf8c","block_type":"box","text":"0.43%","page_number":2,"box":{"x":885,"y":425,"width":41,"height":8}},{"id":"9c533621-a42d-4061-ab49-12d06b9af4ba","block_type":"box","text":"Distribution and/or Service (12b-1) Fees","page_number":2,"box":{"x":70,"y":443,"width":266,"height":10}},{"id":"dc202dc6-de5b-4918-9079-62ab0a5e243b","block_type":"box","text":"None","page_number":2,"box":{"x":883,"y":443,"width":32,"height":8}},{"id":"a8e8e12f-0c65-4da4-9591-0c1d9276af5c","block_type":"box","text":"Other Expenses","page_number":2,"box":{"x":69,"y":461,"width":103,"height":10}},{"id":"1e2ef7fb-149d-4681-8932-eeee7f472bd2","block_type":"box","text":"0.08%","page_number":2,"box":{"x":885,"y":461,"width":41,"height":8}},{"id":"20c7499e-8862-460e-b075-d6e6337e01d5","block_type":"box","text":"Total Annual Fund Operating Expenses","page_number":2,"box":{"x":69,"y":479,"width":252,"height":10}},{"id":"dc531b9d-5e12-4005-8afc-74894f18d3f6","block_type":"box","text":"0.51%","page_number":2,"box":{"x":885,"y":479,"width":41,"height":8}},{"id":"73c0f28d-a5d4-475b-96d8-3caa7d1f6069","block_type":"box","text":"Fee Waivers and/or Expense Reimbursements","page_number":2,"box":{"x":70,"y":497,"width":304,"height":10}},{"id":"b43abea0-930a-42b8-be7a-b6e790c5775d","block_type":"box","text":"1,2","page_number":2,"box":{"x":375,"y":497,"width":11,"height":5}},{"id":"02dea411-5944-4dab-b9a0-dae0ee6e6407","block_type":"box","text":"(0.08)%","page_number":2,"box":{"x":881,"y":497,"width":50,"height":10}},{"id":"faff6b60-ec7e-43e6-b85b-d236ff091e02","block_type":"box","text":"Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements","page_number":2,"box":{"x":69,"y":515,"width":598,"height":11}},{"id":"27a7c1e9-0856-4a18-8cc7-d9c2696336f6","block_type":"box","text":"1,2","page_number":2,"box":{"x":668,"y":515,"width":10,"height":5}},{"id":"31a9ab62-21f8-4015-ba64-ac926803839e","block_type":"box","text":"0.43%","page_number":2,"box":{"x":885,"y":515,"width":41,"height":8}},{"id":"d73d85f5-4e37-4afe-9de9-502af0baa3c6","block_type":"box","text":"1","page_number":2,"box":{"x":61,"y":535,"width":3,"height":3}},{"id":"59a9d106-646f-4429-b116-7b275a80e203","block_type":"box","text":"As described in the “Management of the Fund” section of the Fund’s prospectus beginning on page 27, BlackRock has contractually agreed to","page_number":2,"box":{"x":81,"y":535,"width":837,"height":9}},{"id":"b1b5702c-5146-42f5-8179-03846266582f","block_type":"box","text":"waive the management fee with respect to any por tion of the Fund’s assets estimated to be attributable to investments in other equity and fixed","page_number":2,"box":{"x":80,"y":545,"width":854,"height":9}},{"id":"193e724e-8ca2-4d16-b65d-efb23329df82","block_type":"box","text":"income mutual funds and exchange-traded funds (“ETFs”) managed by BlackRock or its affiliates that have a contractual management fee,","page_number":2,"box":{"x":81,"y":555,"width":813,"height":10}},{"id":"2808ff4b-2e73-40b1-aa63-65d0140b35e5","block_type":"box","text":"through June 30, 2028. In addition, BlackRock has contractually agreed to waive its management fees by the amount of investment advisory","page_number":2,"box":{"x":80,"y":566,"width":829,"height":9}},{"id":"225deb54-df14-4eeb-92c8-dd6c5e66aa41","block_type":"box","text":"fees the Fund pays to BlackRock indirectly through its investment in money market funds managed by BlackRock or its affiliates, through","page_number":2,"box":{"x":81,"y":576,"width":804,"height":9}},{"id":"fec054b9-d0b6-4cb7-8f14-d9ecca768e1e","block_type":"box","text":"June 30, 2028. The contractual agreements may be terminated upon 90 days’ notice by a majority of the non-interested directors of the","page_number":2,"box":{"x":81,"y":586,"width":800,"height":10}},{"id":"2592c84e-d20c-4ffe-a0c5-f4b611d6af3f","block_type":"box","text":"Corporation or by a vote of a majority of the outstanding voting securities of the Fund.","page_number":2,"box":{"x":81,"y":597,"width":501,"height":9}},{"id":"28f27a07-00ab-48d0-aa78-c421fe91fa04","block_type":"box","text":"2","page_number":2,"box":{"x":61,"y":610,"width":3,"height":3}},{"id":"c75fe69c-5006-4c89-b936-cba481743e62","block_type":"box","text":"As described in the “Management of the Fund” section of the Fund’s prospectus beginning on page 27, BlackRock has contractually agreed to","page_number":2,"box":{"x":81,"y":610,"width":837,"height":9}},{"id":"578f1d48-7e45-4ff5-9318-daa350505bfd","block_type":"box","text":"waive and/or reimburse fees or expenses in order to limit Total Annual Fund Operating Expenses After Fee Waivers and/or Expense","page_number":2,"box":{"x":80,"y":620,"width":771,"height":9}},{"id":"87e634bc-76c2-4a01-ab97-e537c40cbfd4","block_type":"box","text":"Reimbursements (excluding Dividend Expense, Interest Expense, Acquired Fund Fees and Expenses and cer tain other Fund expenses) to 0.43%","page_number":2,"box":{"x":81,"y":630,"width":844,"height":9}},{"id":"cb522237-030c-419c-9688-0dd767775c33","block_type":"box","text":"of average daily net assets through June 30, 2028. The contractual agreement may be terminated upon 90 days’ notice by a majority of the non","page_number":2,"box":{"x":81,"y":640,"width":851,"height":10}},{"id":"ebe16582-7b50-4355-91a6-ea6301ca793a","block_type":"box","text":"interested directors of the Corporation or by a vote of a majority of the outstanding voting securities of the Fund.","page_number":2,"box":{"x":81,"y":651,"width":658,"height":9}},{"id":"55f642d2-3be0-46eb-ada2-ffd7ff461232","block_type":"box","text":"Example:","page_number":2,"box":{"x":61,"y":669,"width":74,"height":12}},{"id":"4f168171-b65a-4968-b9dd-ec7881fc86b8","block_type":"box","text":"This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other","page_number":2,"box":{"x":60,"y":685,"width":830,"height":12}},{"id":"f4698559-46db-47a1-b90d-ca5813609229","block_type":"box","text":"mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then","page_number":2,"box":{"x":61,"y":699,"width":832,"height":12}},{"id":"df120e2f-933b-46f7-a463-4a8c6d0f1b3e","block_type":"box","text":"redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5%","page_number":2,"box":{"x":61,"y":715,"width":832,"height":11}},{"id":"740c75cd-ee80-4bcd-9afb-57f1b273feaa","block_type":"box","text":"return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher","page_number":2,"box":{"x":61,"y":730,"width":859,"height":11}},{"id":"2a1b418b-f963-4900-a57e-0adffa62399b","block_type":"box","text":"or lower, based on these assumptions your costs would be:","page_number":2,"box":{"x":61,"y":745,"width":436,"height":11}},{"id":"ed48711e-1ece-4bd6-9ed8-7915991c3582","block_type":"box","text":"1 Year 3 Years 5 Years 10 Years","page_number":2,"box":{"x":631,"y":773,"width":292,"height":8}},{"id":"76f9ef26-c3a0-4548-976a-a69256bd4dc0","block_type":"box","text":"Class K Shares $44 $155 $277 $633","page_number":2,"box":{"x":69,"y":790,"width":843,"height":10}},{"id":"b277d218-aa3f-4fca-9029-0f365ff64e9a","block_type":"box","text":"Portfolio Turnover:","page_number":2,"box":{"x":61,"y":816,"width":151,"height":10}},{"id":"23c6fe34-9284-4292-8494-2ba018d0d11e","block_type":"box","text":"The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its","page_number":2,"box":{"x":60,"y":832,"width":800,"height":11}},{"id":"9f2501a2-35f0-4835-8c96-1a27f4ba10c1","block_type":"box","text":"por tfolio). A higher por tfolio turnover rate may indicate higher transaction costs and may result in higher taxes when","page_number":2,"box":{"x":62,"y":847,"width":850,"height":11}},{"id":"23b367c9-5b95-4253-8d11-333df0dda1ca","block_type":"box","text":"shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the","page_number":2,"box":{"x":61,"y":862,"width":870,"height":11}},{"id":"8798fc52-e90f-46ff-a84f-f6f488a80086","block_type":"box","text":"Example, affect the Fund’s per formance. During the most recent fiscal year, the Fund’s por tfolio turnover rate was","page_number":2,"box":{"x":62,"y":876,"width":839,"height":12}},{"id":"9c02b1c6-f173-4a24-a785-45163a4cb02e","block_type":"box","text":"106% of the average value of its por tfolio.","page_number":2,"box":{"x":62,"y":891,"width":307,"height":12}},{"id":"5a38294b-aab8-41eb-81a0-8583dd51fb53","block_type":"box","text":"2","page_number":2,"box":{"x":61,"y":947,"width":9,"height":9}},{"id":"141a77f0-ed67-462c-b16a-e69d2fd4f783","block_type":"box","text":"NM0926U-5977676-2/8","page_number":2,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"a59f478b-e276-4a76-a685-ab5933be1886","block_type":"box","text":"Principal Investment Strategies of the Fund","page_number":3,"box":{"x":61,"y":43,"width":394,"height":13}},{"id":"2d8f6bb8-bb7d-44db-a2ee-00d0ce8b201b","block_type":"box","text":"Under normal circumstances, the Fund seeks to invest at least 80% of its net assets plus the amount of any","page_number":3,"box":{"x":62,"y":69,"width":798,"height":11}},{"id":"3162b9a0-d999-4509-970c-8cea70a99f27","block_type":"box","text":"borrowings for investment purposes in large cap equity securities and derivatives that have similar economic","page_number":3,"box":{"x":61,"y":84,"width":798,"height":11}},{"id":"76919cba-0025-433d-8cb1-0a7487e70ebd","block_type":"box","text":"characteristics to such securities. Investments in derivatives are counted toward the Fund’s 80% policy to the extent","page_number":3,"box":{"x":61,"y":99,"width":856,"height":11}},{"id":"3a7a38b9-ea9a-4aca-8fde-fdbd54a6f0b0","block_type":"box","text":"that they provide investment exposure to the securities included within that policy or to one or more market risk factors","page_number":3,"box":{"x":60,"y":113,"width":876,"height":12}},{"id":"5cc2b35a-a549-404f-a935-b570db7ee9ac","block_type":"box","text":"associated with such securities. For purposes of the Fund’s 80% policy, large cap equity securities are equity","page_number":3,"box":{"x":61,"y":128,"width":801,"height":12}},{"id":"8680f9be-5891-4264-a651-a32382b1f184","block_type":"box","text":"securities that at the time of purchase have a market capitalization within the range of companies included in the","page_number":3,"box":{"x":61,"y":143,"width":832,"height":12}},{"id":"6a5ac45a-28a1-4c82-bcd5-079f41acc5dd","block_type":"box","text":"Russell 1000 Index (the “Russell 1000 Index”). The Fund primarily intends to invest in equity securities, which include","page_number":3,"box":{"x":62,"y":158,"width":867,"height":11}},{"id":"902a46c0-09ef-462e-aa7c-df95b4d725e1","block_type":"box","text":"common stock and preferred stock or other financial instruments that are components of, or have characteristics","page_number":3,"box":{"x":61,"y":173,"width":832,"height":11}},{"id":"1254e325-27be-4acb-96fc-9dcaaf241f0d","block_type":"box","text":"similar to, the securities included in the Russell 1000 Index. The Russell 1000 Index is a capitalization-weighted index","page_number":3,"box":{"x":61,"y":188,"width":871,"height":11}},{"id":"e341356f-93b7-45b4-8d20-72f35350660c","block_type":"box","text":"from a broad range of industries chosen for market size, liquidity and industry group representation. The Fund primarily","page_number":3,"box":{"x":60,"y":202,"width":875,"height":12}},{"id":"f1c7c7a8-9bae-4f3c-a222-97c674c2b3a7","block_type":"box","text":"seeks to buy common stock and may also invest in preferred stock. From time to time, the Fund may invest in shares","page_number":3,"box":{"x":61,"y":217,"width":864,"height":12}},{"id":"797e4f29-4aaa-4699-8184-672331152534","block_type":"box","text":"of companies through “new issues” or initial public offerings (“IPOs”). The Fund may also purchase conver tible","page_number":3,"box":{"x":61,"y":232,"width":815,"height":11}},{"id":"adb79300-d128-4f05-b070-9fcec6061e77","block_type":"box","text":"securities. The Fund may use derivatives, including options, futures, swaps, (including, but not limited to, total return","page_number":3,"box":{"x":61,"y":247,"width":858,"height":11}},{"id":"c673e4dd-d813-4fc8-8344-82c8d97029c9","block_type":"box","text":"swaps, some of which may be referred to as contracts for difference) and forward contracts, both to seek to increase","page_number":3,"box":{"x":61,"y":262,"width":864,"height":11}},{"id":"f161bc93-472d-4b79-933d-96827451d708","block_type":"box","text":"the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in currency","page_number":3,"box":{"x":60,"y":276,"width":815,"height":12}},{"id":"96c8df8c-f212-40b8-91bc-5706e248fd97","block_type":"box","text":"exchange rates, interest rates and movements in the securities markets. In order to manage cash flows into or out of","page_number":3,"box":{"x":61,"y":291,"width":864,"height":12}},{"id":"fa22d76a-a29c-4b5c-9b41-a0b710d72561","block_type":"box","text":"the Fund effectively, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are","page_number":3,"box":{"x":60,"y":306,"width":876,"height":11}},{"id":"66c02415-a6ee-4726-bd53-aa7ed518f7d0","block_type":"box","text":"financial instruments whose value is derived from another security, a currency or an index, including but not limited to","page_number":3,"box":{"x":60,"y":321,"width":865,"height":11}},{"id":"de30d3b8-2e48-4cf6-a148-b9175b7b06a1","block_type":"box","text":"the Russell 1000 Index. The use of options, futures, swaps and forward contracts can be effective in protecting or","page_number":3,"box":{"x":60,"y":336,"width":843,"height":11}},{"id":"edf94f62-c754-4722-9204-f50f1721f9e5","block_type":"box","text":"enhancing the value of the Fund’s assets.","page_number":3,"box":{"x":61,"y":351,"width":306,"height":11}},{"id":"87508b53-49da-4815-9ed5-5c812c58334d","block_type":"box","text":"The Fund may seek to provide exposure to the investment returns of real assets that trade in the commodity markets","page_number":3,"box":{"x":60,"y":373,"width":863,"height":12}},{"id":"4807a93d-61c8-457a-9db3-2c16905da120","block_type":"box","text":"through investment in commodity-linked derivative instruments and investment vehicles such as ETFs that invest","page_number":3,"box":{"x":60,"y":388,"width":828,"height":11}},{"id":"c4ca2f49-1c0d-485d-a83b-228f1851f434","block_type":"box","text":"exclusively in commodities and are designed to provide this exposure without direct investment in physical","page_number":3,"box":{"x":61,"y":403,"width":781,"height":11}},{"id":"ac5fd0d6-0b80-42b3-99ab-358a119f7549","block_type":"box","text":"commodities.","page_number":3,"box":{"x":61,"y":418,"width":97,"height":9}},{"id":"0d8fb2fb-26e2-4e16-9e5b-2480e7b6e8be","block_type":"box","text":"The Fund seeks to pursue its investment objective by investing in large cap securities in a disciplined manner, by using","page_number":3,"box":{"x":60,"y":440,"width":875,"height":12}},{"id":"c64151e2-c892-4ef2-a77e-60d0e72a68a6","block_type":"box","text":"proprietary return forecast models that incorporate quantitative analysis. These forecast models are designed to","page_number":3,"box":{"x":62,"y":455,"width":826,"height":12}},{"id":"4f6697ad-83fc-479b-b66a-32f1d878113b","block_type":"box","text":"identify aspects of mispricing across stocks which the Fund can seek to capture by over- and under-weighting par ticular","page_number":3,"box":{"x":62,"y":470,"width":874,"height":11}},{"id":"3fec70e6-58c9-4df7-9dc0-54650743767b","block_type":"box","text":"equities while seeking to control incremental risk.","page_number":3,"box":{"x":61,"y":485,"width":363,"height":11}},{"id":"daa812c0-93a3-4ca3-874c-f596bb3780e6","block_type":"box","text":"Principal Risks of Investing in the Fund","page_number":3,"box":{"x":61,"y":523,"width":354,"height":14}},{"id":"19d7ab12-004b-4883-9624-b8c2dd6a7685","block_type":"box","text":"Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive","page_number":3,"box":{"x":62,"y":550,"width":860,"height":11}},{"id":"9cab225b-85f5-4885-9635-e46e465622e9","block_type":"box","text":"on your investment, may fluctuate significantly from day to day and over time. You may lose par t or all of your","page_number":3,"box":{"x":61,"y":564,"width":802,"height":12}},{"id":"61361cb2-a16b-4eec-9198-d62123a3727e","block_type":"box","text":"investment in the Fund or your investment may not per form as well as other similar investments. An investment in the","page_number":3,"box":{"x":62,"y":579,"width":866,"height":12}},{"id":"6042e881-8978-4304-b1e5-b83892d22f9a","block_type":"box","text":"Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other","page_number":3,"box":{"x":62,"y":594,"width":869,"height":12}},{"id":"e55b200d-3209-4c38-901f-59632fe710ca","block_type":"box","text":"government agency. The following is a summary description of the principal risks of investing in the Fund. The relative","page_number":3,"box":{"x":60,"y":609,"width":864,"height":12}},{"id":"90d32ccd-ec18-4279-a137-985f155794c2","block_type":"box","text":"significance of each risk factor below may change over time and you should review each risk factor carefully.","page_number":3,"box":{"x":61,"y":624,"width":793,"height":11}},{"id":"25108bbe-9221-48ff-b344-b4d96fe73ff2","block_type":"box","text":"Equity Securities Risk","page_number":3,"box":{"x":81,"y":644,"width":166,"height":11}},{"id":"6bb8014e-21eb-41cb-a077-276dbbe09aa9","block_type":"box","text":"— Stock markets are volatile. The price of equity securities fluctuates based on changes in a","page_number":3,"box":{"x":251,"y":644,"width":685,"height":11}},{"id":"5e61cebf-70ab-4d92-88b1-04648e8becbd","block_type":"box","text":"company’s financial condition and overall market and economic conditions.","page_number":3,"box":{"x":81,"y":659,"width":550,"height":11}},{"id":"77a6812f-5763-4885-a049-bd2c9cd8fee2","block_type":"box","text":"Investment Style Risk","page_number":3,"box":{"x":81,"y":679,"width":166,"height":11}},{"id":"a9e72ad9-95d0-496f-9b6d-44dbe133a3ed","block_type":"box","text":"—","page_number":3,"box":{"x":252,"y":684,"width":17,"height":1}},{"id":"1793268d-8392-49ce-b85d-da50627a457f","block_type":"box","text":"Under cer tain market conditions, growth investments have per formed better during the","page_number":3,"box":{"x":274,"y":679,"width":637,"height":11}},{"id":"f24eb7d4-2306-4d3b-85c9-75d6a87a92d5","block_type":"box","text":"later stages of economic expansion and value investments have per formed better during periods of economic","page_number":3,"box":{"x":82,"y":693,"width":804,"height":12}},{"id":"b3e0c6d3-662c-4368-9d62-de5f552959a0","block_type":"box","text":"recovery. Therefore, these investment styles may over time go in and out of favor. At times when the investment","page_number":3,"box":{"x":82,"y":708,"width":823,"height":12}},{"id":"1bf1f075-25e2-45f0-815b-9d7310daf562","block_type":"box","text":"style used by the Fund is out of favor, the Fund may underper form other equity funds that use different investment","page_number":3,"box":{"x":81,"y":723,"width":842,"height":12}},{"id":"8187cf00-403c-4d7f-8a93-64195a37e510","block_type":"box","text":"styles.","page_number":3,"box":{"x":81,"y":738,"width":46,"height":11}},{"id":"b59caacb-4ddb-4f8f-850a-b31fcacd8470","block_type":"box","text":"Model Risk","page_number":3,"box":{"x":81,"y":758,"width":85,"height":9}},{"id":"2a662863-04ee-44a8-851f-3165c34983c3","block_type":"box","text":"— The Fund seeks to pursue its investment objective by using proprietary models that incorporate","page_number":3,"box":{"x":170,"y":758,"width":722,"height":11}},{"id":"ea918482-2d22-4cab-b526-834039b27066","block_type":"box","text":"quantitative analysis. Investments selected using these models may per form differently than as forecasted due to","page_number":3,"box":{"x":81,"y":773,"width":840,"height":11}},{"id":"4cdd8744-4524-4c06-b468-41409d99dc22","block_type":"box","text":"the factors incorporated into the models and the weighting of each factor, changes from historical trends, and","page_number":3,"box":{"x":80,"y":788,"width":807,"height":11}},{"id":"5e3de219-03b6-47d4-a1d9-12d21b3560ab","block_type":"box","text":"issues in the construction and implementation of the models (including, but not limited to, software issues, issues","page_number":3,"box":{"x":82,"y":802,"width":842,"height":12}},{"id":"f17721b9-39da-4f7b-be2c-5aff6c1f7040","block_type":"box","text":"related to the use of ar tificial intelligence and machine learning (“AI”), and other technological issues). There is no","page_number":3,"box":{"x":82,"y":817,"width":841,"height":12}},{"id":"267c73d9-65a5-4395-a89f-a433311daa90","block_type":"box","text":"guarantee that BlackRock’s use of these models will result in effective investment decisions for the Fund.","page_number":3,"box":{"x":81,"y":832,"width":777,"height":12}},{"id":"61458a4c-1cbd-44c0-b985-b184b952fed4","block_type":"box","text":"The information and data used in the models may be supplied by third par ties. Inaccurate or incomplete data may","page_number":3,"box":{"x":81,"y":852,"width":837,"height":11}},{"id":"446daf18-e45c-4c6d-9f36-09c2be5753a3","block_type":"box","text":"limit the effectiveness of the models. In addition, some of the data that BlackRock uses may be historical data,","page_number":3,"box":{"x":82,"y":867,"width":819,"height":11}},{"id":"9e151d1f-e1cf-498d-b68d-c97510010111","block_type":"box","text":"which may not accurately predict future market movement. There is a risk that the models will not be successful in","page_number":3,"box":{"x":80,"y":882,"width":843,"height":11}},{"id":"32645fb9-6f60-4e79-96bc-80724b88c29a","block_type":"box","text":"selecting investments or in determining the weighting of investment positions that will enable the Fund to achieve","page_number":3,"box":{"x":81,"y":896,"width":834,"height":12}},{"id":"543a786a-db93-45da-9282-110ce8f39828","block_type":"box","text":"its investment objective.","page_number":3,"box":{"x":82,"y":912,"width":176,"height":11}},{"id":"481ac50b-3886-4d44-9e05-7f5740bd81c4","block_type":"box","text":"3","page_number":3,"box":{"x":927,"y":947,"width":9,"height":9}},{"id":"78c0da40-2217-4a05-891d-92935f13e867","block_type":"box","text":"NM0926U-5977676-3/8","page_number":3,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"bf9b620e-457c-4dbc-bcc5-3ef57369ae0c","block_type":"box","text":"Risk of Investing in the United States","page_number":4,"box":{"x":81,"y":42,"width":283,"height":11}},{"id":"6338cf8f-16a1-44e0-9aea-b33338f8bdcf","block_type":"box","text":"—","page_number":4,"box":{"x":369,"y":47,"width":17,"height":1}},{"id":"63bf05fd-0426-43e8-bc54-a40356701594","block_type":"box","text":"Cer tain changes in the U.S. economy, such as when the U.S. economy","page_number":4,"box":{"x":391,"y":42,"width":518,"height":11}},{"id":"01d180e0-6d17-41c4-a616-a8158f2820bb","block_type":"box","text":"weakens or when its financial markets decline, may have an adverse effect on the securities to which the Fund has","page_number":4,"box":{"x":80,"y":57,"width":847,"height":11}},{"id":"2a42d12f-4db2-42c1-8fcc-36bc9bbabdca","block_type":"box","text":"exposure.","page_number":4,"box":{"x":81,"y":74,"width":70,"height":9}},{"id":"524b70eb-a135-43ed-a858-d17e8318308e","block_type":"box","text":"Commodities Related Investments Risk","page_number":4,"box":{"x":81,"y":92,"width":298,"height":9}},{"id":"2c87070c-cc0b-4011-a8d8-7ec5240864dd","block_type":"box","text":"—","page_number":4,"box":{"x":384,"y":97,"width":17,"height":1}},{"id":"d804cee1-3862-4f0f-900e-a02b75bae437","block_type":"box","text":"Exposure to the commodities markets may subject the Fund to greater","page_number":4,"box":{"x":406,"y":92,"width":517,"height":11}},{"id":"80ba0563-5547-4dd3-9f77-00c3d2a4b01a","block_type":"box","text":"volatility than investments in traditional securities. The value of commodity-linked derivative investments may be","page_number":4,"box":{"x":80,"y":106,"width":824,"height":12}},{"id":"492765e5-2117-4e9c-9485-1ae1df399b85","block_type":"box","text":"affected by changes in overall market movements, commodity index volatility, changes in inflation, interest rates, or","page_number":4,"box":{"x":81,"y":121,"width":849,"height":12}},{"id":"eee24e03-3e7a-4709-91b3-c6592f21b5d7","block_type":"box","text":"factors affecting a par ticular industry or commodity, such as drought, floods, weather, embargoes, tariffs and","page_number":4,"box":{"x":81,"y":136,"width":804,"height":11}},{"id":"0e215ae1-ac93-4606-95e5-e28f5ad9b223","block_type":"box","text":"international economic, political and regulatory developments.","page_number":4,"box":{"x":82,"y":151,"width":455,"height":11}},{"id":"963be634-373c-4db0-a2c0-741e199123ec","block_type":"box","text":"Convertible Securities Risk","page_number":4,"box":{"x":81,"y":171,"width":206,"height":9}},{"id":"dc38eaf4-58bf-441a-9110-02509af44afb","block_type":"box","text":"— The market value of a conver tible security per forms like that of a regular debt","page_number":4,"box":{"x":291,"y":171,"width":593,"height":11}},{"id":"38c86865-988d-4513-b8f7-49a98d46bd18","block_type":"box","text":"security; that is, if market interest rates rise, the value of a conver tible security usually falls. In addition, conver tible","page_number":4,"box":{"x":81,"y":185,"width":853,"height":12}},{"id":"bf20ab69-3baf-44fd-8070-83358cf5cc16","block_type":"box","text":"securities are subject to the risk that the issuer will not be able to pay interest, principal or dividends when due, and","page_number":4,"box":{"x":81,"y":201,"width":855,"height":11}},{"id":"90e78127-1885-49b4-9083-d4ad7db5192b","block_type":"box","text":"their market value may change based on changes in the issuer’s credit rating or the market’s perception of the","page_number":4,"box":{"x":80,"y":215,"width":816,"height":12}},{"id":"898a1f4f-f1ab-44d7-a6fa-57376cb2f8ab","block_type":"box","text":"issuer’s creditwor thiness. Since it derives a por tion of its value from the common stock into which it may be","page_number":4,"box":{"x":82,"y":230,"width":796,"height":11}},{"id":"33aa3380-0416-46ae-8077-779841c8e288","block_type":"box","text":"conver ted, a conver tible security is also subject to the same types of market and issuer risks that apply to the","page_number":4,"box":{"x":81,"y":245,"width":812,"height":11}},{"id":"58b65c94-fb9d-4501-8cb1-33a8ac84d1cb","block_type":"box","text":"underlying common stock, including the potential for increased volatility in the price of the conver tible security.","page_number":4,"box":{"x":82,"y":260,"width":809,"height":11}},{"id":"64875cc8-5937-4974-8ff5-0bda36e86742","block_type":"box","text":"Derivatives Risk","page_number":4,"box":{"x":81,"y":280,"width":123,"height":9}},{"id":"a0ce6aa9-3d1e-4663-a2fe-2d922706c656","block_type":"box","text":"— The Fund’s use of derivatives may increase its costs, reduce the Fund’s returns and/or","page_number":4,"box":{"x":207,"y":280,"width":664,"height":11}},{"id":"975f03ea-9555-40bc-bfb3-d73055542966","block_type":"box","text":"increase volatility. Derivatives involve significant risks, including:","page_number":4,"box":{"x":82,"y":294,"width":469,"height":12}},{"id":"56bebfc4-835d-48de-9186-adb73c24308e","block_type":"box","text":"Leverage Risk","page_number":4,"box":{"x":82,"y":315,"width":102,"height":11}},{"id":"b4a529d2-4d26-41a0-841e-f7d836ab6907","block_type":"box","text":"— The Fund’s use of derivatives can magnify the Fund’s gains and losses. Relatively small market","page_number":4,"box":{"x":188,"y":314,"width":723,"height":12}},{"id":"1e0d6f3b-f97e-44b7-9e08-1b2afe14d3f8","block_type":"box","text":"movements may result in large changes in the value of a derivatives position and can result in losses that greatly","page_number":4,"box":{"x":82,"y":329,"width":832,"height":12}},{"id":"7b72feea-8daf-44b2-bb61-c0c996ce824f","block_type":"box","text":"exceed the amount originally invested.","page_number":4,"box":{"x":81,"y":344,"width":280,"height":12}},{"id":"26062c04-15ca-40a8-950f-28f1c77783f7","block_type":"box","text":"Market Risk","page_number":4,"box":{"x":82,"y":364,"width":87,"height":9}},{"id":"fddf4774-aa27-42b0-9059-e1478fd31f14","block_type":"box","text":"— Some derivatives are more sensitive to interest rate changes and market price fluctuations than","page_number":4,"box":{"x":173,"y":364,"width":728,"height":12}},{"id":"65abff77-318f-425f-a177-162ef13c0d5b","block_type":"box","text":"other securities. The Fund could also suffer losses related to its derivatives positions as a result of unanticipated","page_number":4,"box":{"x":81,"y":379,"width":834,"height":11}},{"id":"0c806b45-8cbf-4393-93b3-e8fe9ac9a73e","block_type":"box","text":"market movements, which losses are potentially unlimited. Finally, BlackRock may not be able to predict correctly","page_number":4,"box":{"x":82,"y":394,"width":832,"height":11}},{"id":"9ec9fa1f-4cfa-4590-8a67-966c0819bf22","block_type":"box","text":"the direction of securities prices, interest rates and other economic factors, which could cause the Fund’s","page_number":4,"box":{"x":80,"y":409,"width":779,"height":11}},{"id":"c78cb501-1d2d-4f88-b095-3e7e0f537cbf","block_type":"box","text":"derivatives positions to lose value.","page_number":4,"box":{"x":81,"y":424,"width":253,"height":11}},{"id":"84baee62-ab8a-418d-bd64-b5ab631e5692","block_type":"box","text":"Counterpar ty Risk","page_number":4,"box":{"x":82,"y":443,"width":131,"height":12}},{"id":"59dec06a-9a9e-4ef2-8af5-93a54f961e83","block_type":"box","text":"— Derivatives are also subject to counterpar ty risk, which is the risk that the other par ty in the","page_number":4,"box":{"x":217,"y":444,"width":697,"height":11}},{"id":"93666f3e-ebc0-4a91-9bd5-c9b0106c568a","block_type":"box","text":"transaction will be unable or unwilling to fulfill its contractual obligation, and the related risks of having concentrated","page_number":4,"box":{"x":80,"y":458,"width":855,"height":12}},{"id":"fef8cb64-9374-49d4-a071-9eddd0a0f4d2","block_type":"box","text":"exposure to such a counterpar ty.","page_number":4,"box":{"x":81,"y":473,"width":240,"height":11}},{"id":"8fde688f-985d-4409-93d4-c54a6b7f2bf2","block_type":"box","text":"Illiquidity Risk","page_number":4,"box":{"x":82,"y":493,"width":100,"height":11}},{"id":"ce5d41dd-77f1-43f4-9449-7d60c7461b23","block_type":"box","text":"— The possible lack of a liquid secondary market for derivatives and the resulting inability of the Fund","page_number":4,"box":{"x":186,"y":493,"width":750,"height":12}},{"id":"64690d7b-8311-41be-89b3-3b05205111b1","block_type":"box","text":"to sell or otherwise close a derivatives position could expose the Fund to losses and could make derivatives more","page_number":4,"box":{"x":80,"y":508,"width":839,"height":11}},{"id":"952d878f-43e5-4314-9c80-ec573c474b8a","block_type":"box","text":"difficult for the Fund to value accurately.","page_number":4,"box":{"x":81,"y":523,"width":293,"height":11}},{"id":"e9b30779-9785-43b0-a1ed-ec84f143ce6a","block_type":"box","text":"Operational Risk","page_number":4,"box":{"x":82,"y":543,"width":120,"height":11}},{"id":"a40232a1-e7ba-405b-9c15-fe460994bcda","block_type":"box","text":"— The use of derivatives includes the risk of potential operational issues, including documentation","page_number":4,"box":{"x":206,"y":543,"width":727,"height":11}},{"id":"470ca1b2-c145-4f47-ae52-061c1d8e98d3","block_type":"box","text":"issues, settlement issues, systems failures, inadequate controls and human error.","page_number":4,"box":{"x":82,"y":557,"width":607,"height":12}},{"id":"1da2c8a2-19ad-4896-8485-357859480680","block_type":"box","text":"Legal Risk","page_number":4,"box":{"x":82,"y":578,"width":75,"height":11}},{"id":"cacf3ace-41a9-4969-833b-a9be689732fe","block_type":"box","text":"— The risk of insufficient documentation, insufficient capacity or authority of counterpar ty, or legality or","page_number":4,"box":{"x":161,"y":577,"width":761,"height":12}},{"id":"967a2d64-cd1b-4111-bf57-24de6d2ea848","block_type":"box","text":"enforceability of a contract.","page_number":4,"box":{"x":81,"y":592,"width":198,"height":12}},{"id":"ada09870-508b-458e-8ea4-82440350e5fd","block_type":"box","text":"Volatility and Correlation Risk","page_number":4,"box":{"x":83,"y":612,"width":214,"height":12}},{"id":"29515525-0bd5-41a4-99f3-f2ebbca96f85","block_type":"box","text":"— Volatility is defined as the characteristic of a security, an index or a market to","page_number":4,"box":{"x":300,"y":612,"width":590,"height":12}},{"id":"1f94a7ee-30af-4aea-903e-abc117b52b5a","block_type":"box","text":"fluctuate significantly in price within a shor t time period. A risk of the Fund’s use of derivatives is that the","page_number":4,"box":{"x":81,"y":627,"width":775,"height":12}},{"id":"f9f58a62-dd33-4f5e-89dc-d52648db1a52","block_type":"box","text":"fluctuations in their values may not correlate with the overall securities markets.","page_number":4,"box":{"x":81,"y":642,"width":589,"height":11}},{"id":"f0c67d3d-0575-42da-94d7-8965e51a7a14","block_type":"box","text":"Valuation Risk","page_number":4,"box":{"x":83,"y":662,"width":102,"height":9}},{"id":"ab32c240-f8f9-4738-a57b-ecfe81458942","block_type":"box","text":"— Valuation for derivatives may not be readily available in the market. Valuation may be more difficult","page_number":4,"box":{"x":189,"y":662,"width":747,"height":11}},{"id":"abadfd4e-533d-4ce9-a279-d07a30b3eece","block_type":"box","text":"in times of market turmoil since many investors and market makers may be reluctant to purchase complex","page_number":4,"box":{"x":82,"y":677,"width":783,"height":11}},{"id":"6dfd9a72-440b-4409-a13c-86f659d3ba03","block_type":"box","text":"instruments or quote prices for them.","page_number":4,"box":{"x":82,"y":691,"width":273,"height":12}},{"id":"5e387609-ef57-45bf-98a3-299280ee9bff","block_type":"box","text":"Hedging Risk","page_number":4,"box":{"x":82,"y":712,"width":95,"height":11}},{"id":"d59ee68a-a127-4593-b37d-324d5ab69de4","block_type":"box","text":"— Hedges are sometimes subject to imper fect matching between the derivative and the underlying","page_number":4,"box":{"x":181,"y":711,"width":728,"height":12}},{"id":"c3cb9ae5-2b7c-4fd4-8be3-f36d93339bda","block_type":"box","text":"security, and there can be no assurance that the Fund’s hedging transactions will be effective. The use of hedging","page_number":4,"box":{"x":81,"y":726,"width":839,"height":12}},{"id":"d227f010-5b1f-4ea1-a598-cd5b157ffc84","block_type":"box","text":"may result in cer tain adverse tax consequences.","page_number":4,"box":{"x":82,"y":741,"width":354,"height":12}},{"id":"e560810c-a2d0-4d1c-b3b2-c0b936b46365","block_type":"box","text":"Tax Risk","page_number":4,"box":{"x":83,"y":761,"width":59,"height":9}},{"id":"7d13e45c-71da-43f2-ae94-1c6344f84dbf","block_type":"box","text":"— Cer tain aspects of the tax treatment of derivative instruments, including swap agreements and","page_number":4,"box":{"x":145,"y":761,"width":719,"height":12}},{"id":"6606dff0-6881-4e68-a2f4-2d6d97ea0968","block_type":"box","text":"commodity-linked derivative instruments, are currently unclear and may be affected by changes in legislation,","page_number":4,"box":{"x":81,"y":776,"width":801,"height":12}},{"id":"c5082a67-5d92-4e00-92ad-0a943b702a57","block_type":"box","text":"regulations or other legally binding authority. Such treatment may be less favorable than that given to a direct","page_number":4,"box":{"x":82,"y":791,"width":802,"height":11}},{"id":"a2d31c65-fe65-4118-9a5c-0ba32e9eb49f","block_type":"box","text":"investment in an underlying asset and may adversely affect the timing, character and amount of income the Fund","page_number":4,"box":{"x":82,"y":806,"width":830,"height":11}},{"id":"e5e4349f-0074-4158-92fc-eeeaca270c42","block_type":"box","text":"realizes from its investments.","page_number":4,"box":{"x":82,"y":820,"width":215,"height":10}},{"id":"87427a13-3e3e-47a5-995a-c237f5e9d7fc","block_type":"box","text":"High Portfolio Turnover Risk","page_number":4,"box":{"x":81,"y":840,"width":212,"height":12}},{"id":"9d9de9bb-2676-4e93-b3cb-3eb273a4f6fa","block_type":"box","text":"— The Fund may engage in active and frequent trading of its por tfolio securities. High","page_number":4,"box":{"x":297,"y":840,"width":629,"height":12}},{"id":"eb0de842-b3d3-4e0e-982d-42186c571ae8","block_type":"box","text":"por tfolio turnover (more than 100%) may result in increased transaction costs to the Fund, including brokerage","page_number":4,"box":{"x":82,"y":855,"width":812,"height":12}},{"id":"c8515506-fa54-420b-89d1-ad7c9184e9cc","block_type":"box","text":"commissions, dealer mark-ups and other transaction costs on the sale of the securities and on reinvestment in","page_number":4,"box":{"x":81,"y":870,"width":817,"height":11}},{"id":"00ca7185-0d70-4c4d-9ca2-1b01f27f2aec","block_type":"box","text":"other securities. The sale of Fund por tfolio securities may result in the realization and/or distribution to","page_number":4,"box":{"x":81,"y":885,"width":760,"height":11}},{"id":"5044735d-073f-4146-a30a-aa57178edf1f","block_type":"box","text":"shareholders of higher capital gains or losses as compared to a fund with less active trading policies. These effects","page_number":4,"box":{"x":81,"y":900,"width":852,"height":11}},{"id":"eb431d9f-14ef-4379-808b-0ef09ec51fa4","block_type":"box","text":"of higher than normal por tfolio turnover may adversely affect Fund per formance.","page_number":4,"box":{"x":81,"y":915,"width":589,"height":11}},{"id":"28926376-1ebc-46a7-88e0-cf0aed49bc5e","block_type":"box","text":"4","page_number":4,"box":{"x":61,"y":947,"width":9,"height":9}},{"id":"54012174-58f9-4e25-808f-b75294e0cb58","block_type":"box","text":"NM0926U-5977676-4/8","page_number":4,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"6a344285-f65e-4490-b5ea-21157d4ec3a1","block_type":"box","text":"Large-Capitalization Companies Risk","page_number":5,"box":{"x":81,"y":42,"width":276,"height":11}},{"id":"b8710b3d-aed8-4940-9d9e-e8d57ed9a178","block_type":"box","text":"— Large-capitalization companies may be less able than smaller-capitalization","page_number":5,"box":{"x":361,"y":42,"width":573,"height":11}},{"id":"0f904f1c-3308-449c-93ab-52f53247c3c3","block_type":"box","text":"companies to adapt to changing market conditions and competitive challenges. Large-capitalization companies may","page_number":5,"box":{"x":81,"y":57,"width":848,"height":11}},{"id":"86555c5f-c8a3-473c-8a37-30b2be40987d","block_type":"box","text":"be more mature and subject to more limited growth potential compared with smaller-capitalization companies. The","page_number":5,"box":{"x":81,"y":72,"width":839,"height":11}},{"id":"bcc43768-e8e6-4303-91d1-83113ed64342","block_type":"box","text":"per formance of large-capitalization companies could trail the overall per formance of the broader securities markets.","page_number":5,"box":{"x":82,"y":86,"width":851,"height":12}},{"id":"3b75da3e-b267-4f14-9592-6cb41cb2c344","block_type":"box","text":"Leverage Risk","page_number":5,"box":{"x":81,"y":106,"width":107,"height":12}},{"id":"6dbf1e9e-1113-4046-b1ef-53563febe158","block_type":"box","text":"— Some transactions may give rise to a form of economic leverage. These transactions may include,","page_number":5,"box":{"x":192,"y":106,"width":741,"height":12}},{"id":"2de5c54d-51ba-4155-8402-4bca0c581d37","block_type":"box","text":"among others, derivatives, and may expose the Fund to greater risk and increase its costs. The use of leverage may","page_number":5,"box":{"x":81,"y":121,"width":853,"height":12}},{"id":"1d47366c-da98-4247-9223-3911ec722a4b","block_type":"box","text":"cause the Fund to liquidate por tfolio positions when it may not be advantageous to do so to satisfy its obligations or","page_number":5,"box":{"x":81,"y":136,"width":856,"height":11}},{"id":"ae49691d-c8f8-4d84-b8d3-d69da246beed","block_type":"box","text":"to meet the applicable requirements of the Investment Company Act of 1940, as amended (the “Investment","page_number":5,"box":{"x":80,"y":151,"width":796,"height":11}},{"id":"6ac93b96-9546-4229-9094-a90ab0868abf","block_type":"box","text":"Company Act”) and the rules thereunder. Increases and decreases in the value of the Fund’s por tfolio will be","page_number":5,"box":{"x":81,"y":166,"width":800,"height":11}},{"id":"4ba100e2-b587-429b-8028-4d0451d4396e","block_type":"box","text":"magnified when the Fund uses leverage.","page_number":5,"box":{"x":82,"y":180,"width":293,"height":12}},{"id":"c11e1eef-59ed-411e-b707-83492cd4c1eb","block_type":"box","text":"Market Risk and Selection Risk","page_number":5,"box":{"x":81,"y":200,"width":240,"height":10}},{"id":"bb99d1ed-e0b9-4f77-bfbd-a4baf40d1124","block_type":"box","text":"— Market risk is the risk that one or more markets in which the Fund invests will","page_number":5,"box":{"x":324,"y":201,"width":593,"height":9}},{"id":"8ec4fe19-4ab5-4a6a-b9b0-97fdf6a6ba3b","block_type":"box","text":"go down in value, including the possibility that the markets will go down sharply and unpredictably. An investor could","page_number":5,"box":{"x":81,"y":215,"width":851,"height":12}},{"id":"4aea5bc9-01a4-4171-bbfa-9fd96fcc0800","block_type":"box","text":"lose money over shor t periods due to fluctuation in the Fund’s net asset value in response to shor t-term market","page_number":5,"box":{"x":82,"y":230,"width":824,"height":11}},{"id":"00df0d8f-5763-40bf-b0c2-b520ac918a94","block_type":"box","text":"movements and over longer periods during market downturns. Securities or other investments held by the Fund may","page_number":5,"box":{"x":82,"y":245,"width":851,"height":11}},{"id":"cc82310a-b8af-49da-8214-e9bf8c516ee7","block_type":"box","text":"underper form the markets, the relevant indices or benchmarks, or the securities selected by other funds with","page_number":5,"box":{"x":82,"y":260,"width":802,"height":11}},{"id":"76ee532f-5717-4441-83e9-73cceceb6f50","block_type":"box","text":"similar investment objectives and investment strategies, or may otherwise fail to per form as intended. The value of","page_number":5,"box":{"x":81,"y":274,"width":849,"height":12}},{"id":"fd4d74c3-2481-46f3-a084-c25aa99d8540","block_type":"box","text":"a security or other asset may decline due to changes in general market conditions, economic trends or events that","page_number":5,"box":{"x":81,"y":290,"width":843,"height":11}},{"id":"37679d04-0ff7-4d9c-9e7b-9f8f9af207a2","block_type":"box","text":"are not specifically related to the issuer of the security or other asset, or factors that affect a par ticular issuer or","page_number":5,"box":{"x":81,"y":304,"width":830,"height":12}},{"id":"b942e061-01da-45f5-bd45-8b0b5ef15e62","block_type":"box","text":"issuers, exchange, country, group of countries, region, market, industry, group of industries, sector or asset class.","page_number":5,"box":{"x":82,"y":319,"width":840,"height":12}},{"id":"4757cb9d-2e59-4237-8d90-2483269b608b","block_type":"box","text":"The success of the Fund’s activities could be affected by interest rates, availability of credit, inflation rates,","page_number":5,"box":{"x":81,"y":334,"width":789,"height":11}},{"id":"09e294f8-165d-4762-ac7b-b3ce04ea9ff7","block_type":"box","text":"economic uncer tainty, changes in laws, tariffs and trade barriers, supply chain disruptions, economic sanctions,","page_number":5,"box":{"x":81,"y":349,"width":823,"height":11}},{"id":"a259f794-4b87-443b-a8fd-d2673b6da18c","block_type":"box","text":"currency exchange controls, and local, regional or global events such as war, acts of terrorism, natural and","page_number":5,"box":{"x":81,"y":363,"width":784,"height":12}},{"id":"e2f849bf-d0ab-4dd0-b08d-95cae6292bf5","block_type":"box","text":"environmental disasters, the spread of infectious illness or other public health issues, recessions, or other events.","page_number":5,"box":{"x":81,"y":378,"width":844,"height":11}},{"id":"31408dc4-936b-4d44-a3d2-7644a09a0fb4","block_type":"box","text":"The Fund seeks to pursue its investment objective by using proprietary models that incorporate quantitative analysis","page_number":5,"box":{"x":81,"y":393,"width":855,"height":12}},{"id":"d520c578-5ab1-483a-b787-38b1b40146bb","block_type":"box","text":"and is subject to “Model Risk” as described above.","page_number":5,"box":{"x":81,"y":408,"width":376,"height":11}},{"id":"33940589-f3b6-4b13-8d69-fa7c4e73b9e1","block_type":"box","text":"Recent policy initiatives under taken by the U.S. government have the potential to impact international relations,","page_number":5,"box":{"x":82,"y":428,"width":818,"height":11}},{"id":"8995a98b-cc48-46ea-88e3-dbc5677f0ab0","block_type":"box","text":"trade agreements and the overall regulatory environment in ways that could create uncer tainty and instability in","page_number":5,"box":{"x":80,"y":443,"width":819,"height":11}},{"id":"c25b6865-5e7d-43e1-aaa6-041bb3a9aa40","block_type":"box","text":"domestic and global markets, and could adversely affect the investment per formance of the Fund. In par ticular,","page_number":5,"box":{"x":81,"y":458,"width":819,"height":11}},{"id":"bf55eccc-693e-46c7-ae46-99e862fe5ec1","block_type":"box","text":"actions taken by the U.S. government in respect of international trade relations could lead to trade wars, increased","page_number":5,"box":{"x":81,"y":472,"width":846,"height":12}},{"id":"fd607d7e-73cc-44ee-b115-cba54debda14","block_type":"box","text":"costs for impor ted goods, disruptions in supply chains, reduced foreign investment, and instability in regions where","page_number":5,"box":{"x":81,"y":487,"width":848,"height":12}},{"id":"a5e4bcd0-acf8-4e4c-af0a-499e7da23f94","block_type":"box","text":"the Fund invests.","page_number":5,"box":{"x":80,"y":502,"width":125,"height":9}},{"id":"a0cc8180-54d8-43a2-b94d-20229cf5317f","block_type":"box","text":"“New Issues” Risk","page_number":5,"box":{"x":83,"y":522,"width":139,"height":9}},{"id":"a40bb1bc-15f4-47fe-b37f-01b2d82d0fdf","block_type":"box","text":"—","page_number":5,"box":{"x":227,"y":527,"width":17,"height":1}},{"id":"c139303b-cd02-4574-9d76-86eb88c1153e","block_type":"box","text":"“New issues” are IPOs of equity securities. Securities issued in IPOs have no trading history,","page_number":5,"box":{"x":249,"y":522,"width":681,"height":12}},{"id":"d24372bd-255f-4096-b6de-42eed43aaa89","block_type":"box","text":"and information about the companies may be available for very limited periods. In addition, the prices of securities","page_number":5,"box":{"x":81,"y":537,"width":843,"height":11}},{"id":"b83c9e29-2887-48ca-a051-de00491f1060","block_type":"box","text":"sold in IPOs may be highly volatile or may decline shor tly after the IPO.","page_number":5,"box":{"x":81,"y":552,"width":517,"height":11}},{"id":"1fafe38f-631b-4694-9ec1-0be90a21d04f","block_type":"box","text":"Operational and Technology Risks","page_number":5,"box":{"x":82,"y":572,"width":254,"height":11}},{"id":"870d4874-5e4d-434b-9683-f062432b0d0f","block_type":"box","text":"— The Fund is directly and indirectly susceptible to operational and technology","page_number":5,"box":{"x":340,"y":572,"width":578,"height":11}},{"id":"bf10b3ea-9640-404e-b1e1-e7a1670ddd30","block_type":"box","text":"risks, including those related to human errors, processing errors, communication errors, systems failures,","page_number":5,"box":{"x":82,"y":586,"width":779,"height":12}},{"id":"0031044c-3aa4-42e7-b7f3-eb4a174b2a5b","block_type":"box","text":"cybersecurity incidents, and the use of AI, which may result in losses for the Fund and its shareholders or may","page_number":5,"box":{"x":81,"y":601,"width":811,"height":12}},{"id":"3ea78f96-6990-447d-bf8c-9d34442c4ef0","block_type":"box","text":"impair the Fund’s operations. While the Fund’s service providers are required to have appropriate operational,","page_number":5,"box":{"x":82,"y":616,"width":806,"height":11}},{"id":"6dd874a0-db8b-48bf-844f-c7a2c31f2821","block_type":"box","text":"information security and cybersecurity risk management policies and procedures, their methods of risk management","page_number":5,"box":{"x":82,"y":631,"width":853,"height":11}},{"id":"930e7258-7b2d-4f67-8a41-94f63edf5e3a","block_type":"box","text":"may differ from those of the Fund. Operational and technology risks for the issuers in which the Fund invests could","page_number":5,"box":{"x":82,"y":646,"width":841,"height":11}},{"id":"2690c96e-a935-40f3-bc7b-031012d99429","block_type":"box","text":"also result in material adverse consequences for such issuers and may cause the Fund’s investments in such","page_number":5,"box":{"x":81,"y":661,"width":808,"height":11}},{"id":"c2f81c01-e749-4d9e-a447-6774b0197f8d","block_type":"box","text":"issuers to lose value.","page_number":5,"box":{"x":82,"y":676,"width":155,"height":9}},{"id":"b621644d-2578-4f5d-9cb7-607364dd1a58","block_type":"box","text":"Preferred Securities Risk","page_number":5,"box":{"x":81,"y":695,"width":189,"height":10}},{"id":"cbce2e32-7581-4d5b-b8b0-a02d8b35b560","block_type":"box","text":"— Preferred securities may pay fixed or adjustable rates of return. Preferred securities","page_number":5,"box":{"x":274,"y":695,"width":636,"height":12}},{"id":"ef5081ef-434b-41f2-9f74-72d106423605","block_type":"box","text":"are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company’s","page_number":5,"box":{"x":81,"y":710,"width":824,"height":12}},{"id":"447637ed-60f7-4ef4-8bd6-a4e5b2e42e4d","block_type":"box","text":"preferred securities generally pay dividends only after the company makes required payments to holders of its","page_number":5,"box":{"x":82,"y":725,"width":806,"height":12}},{"id":"ac7c34ae-42f8-4ba8-8e26-8e870e80feb4","block_type":"box","text":"bonds and other debt. For this reason, the value of preferred securities will usually react more strongly than bonds","page_number":5,"box":{"x":81,"y":740,"width":842,"height":11}},{"id":"99e5b048-4958-406f-8f23-d3401f5272c5","block_type":"box","text":"and other debt to actual or perceived changes in the company’s financial condition or prospects. Preferred","page_number":5,"box":{"x":81,"y":755,"width":781,"height":11}},{"id":"f0394868-4014-48d1-bada-24439fdfd4ca","block_type":"box","text":"securities of smaller companies may be more vulnerable to adverse developments than preferred securities of","page_number":5,"box":{"x":81,"y":769,"width":812,"height":12}},{"id":"f5abb0f8-0820-4909-8a35-5ae365fdc616","block_type":"box","text":"larger companies.","page_number":5,"box":{"x":82,"y":785,"width":129,"height":11}},{"id":"77d083b4-2b2b-4469-95bc-e87683011b63","block_type":"box","text":"Performance Information","page_number":5,"box":{"x":61,"y":823,"width":224,"height":11}},{"id":"a363d1d5-9d19-4743-b4e1-7e5966f85573","block_type":"box","text":"Effective June 12, 2017, the Fund changed its name, investment process and investment strategies. Per formance for","page_number":5,"box":{"x":62,"y":849,"width":867,"height":12}},{"id":"43e22162-793a-4e4b-a019-fb78ff148f01","block_type":"box","text":"the periods prior to June 12, 2017 shown below is based on the investment process and investment strategies utilized","page_number":5,"box":{"x":60,"y":864,"width":876,"height":12}},{"id":"6c86b579-8d3f-409d-85a3-a63467796d44","block_type":"box","text":"by the Fund at that time under the name “BlackRock Large Cap Core Fund.”","page_number":5,"box":{"x":61,"y":879,"width":555,"height":12}},{"id":"ae81159d-026e-493c-a6c3-20c35084709b","block_type":"box","text":"The information shows you how the Fund’s per formance has varied year by year and provides some indication of the","page_number":5,"box":{"x":60,"y":902,"width":855,"height":11}},{"id":"714feaec-6dc7-4392-b4ce-8557e6e52ade","block_type":"box","text":"risks of investing in the Fund. Class K Shares commenced operations on January 25, 2018. As a result, the returns","page_number":5,"box":{"x":61,"y":916,"width":852,"height":12}},{"id":"203f1921-023c-4a68-ae32-7a6d22a108e6","block_type":"box","text":"5","page_number":5,"box":{"x":928,"y":947,"width":9,"height":9}},{"id":"0a86ee1c-da68-4b25-81b4-e304084ed96f","block_type":"box","text":"NM0926U-5977676-5/8","page_number":5,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"37b62f04-4c05-4f9e-879a-23e2fa10974c","block_type":"box","text":"shown below for Class K Shares prior to January 25, 2018 are those of the Fund’s Institutional Shares, which are not","page_number":6,"box":{"x":61,"y":42,"width":866,"height":11}},{"id":"fcb7bf75-2a26-42b6-991b-4279ca988990","block_type":"box","text":"offered in this prospectus. The per formance of Class K Shares would be substantially similar to Institutional Shares","page_number":6,"box":{"x":61,"y":57,"width":853,"height":11}},{"id":"a6cabc63-4476-46d9-aadc-5b155571b08c","block_type":"box","text":"because Class K Shares and Institutional Shares are invested in the same por tfolio of securities and per formance","page_number":6,"box":{"x":61,"y":71,"width":842,"height":12}},{"id":"b5cd0460-11fb-4cf1-93b0-88f50195293d","block_type":"box","text":"would differ only to the extent that Institutional Shares and Class K Shares have different expenses. The actual","page_number":6,"box":{"x":60,"y":86,"width":820,"height":12}},{"id":"8c2f0276-b986-4499-b798-15116a792b97","block_type":"box","text":"returns of Class K Shares would have been higher than those of the Institutional Shares because Class K Shares have","page_number":6,"box":{"x":61,"y":101,"width":873,"height":12}},{"id":"7ff4978e-8b24-40a9-aff9-6f95fd60e207","block_type":"box","text":"lower expenses than the Institutional Shares. The table compares the Fund’s per formance to that of the Russell 1000","page_number":6,"box":{"x":62,"y":116,"width":870,"height":11}},{"id":"5a3c1678-89ba-4784-8e14-7de29492d26d","block_type":"box","text":"Index. To the extent that dividends and distributions have been paid by the Fund, the per formance information for the","page_number":6,"box":{"x":62,"y":131,"width":860,"height":11}},{"id":"98f8612f-712c-4ffd-a875-ab25f2e25c2c","block_type":"box","text":"Fund in the char t and table assumes reinvestment of the dividends and distributions. As with all such investments,","page_number":6,"box":{"x":62,"y":146,"width":844,"height":10}},{"id":"cfb9c044-b97e-417b-811b-3c9668b25794","block_type":"box","text":"past per formance (before and after taxes) is not an indication of future results. The table includes all applicable fees.","page_number":6,"box":{"x":62,"y":160,"width":863,"height":12}},{"id":"c8b92462-91b7-47d4-9755-4bd77f4c0b25","block_type":"box","text":"If BlackRock and its affiliates had not waived or reimbursed cer tain Fund expenses during these periods, the Fund’s","page_number":6,"box":{"x":62,"y":175,"width":852,"height":12}},{"id":"b4ce7045-7b38-480a-859b-aaf5b64353ea","block_type":"box","text":"returns would have been lower. Updated information on the Fund’s per formance, including its current net asset value,","page_number":6,"box":{"x":61,"y":190,"width":865,"height":12}},{"id":"b3d7e098-1691-4470-b289-d3603bb2a53c","block_type":"box","text":"can be obtained by visiting www.blackrock.com or can be obtained by phone at (800) 882-0052.","page_number":6,"box":{"x":61,"y":205,"width":705,"height":11}},{"id":"786b401b-bbce-4a8f-9aad-0a88c5d0e9d5","block_type":"box","text":"Class K Shares","page_number":6,"box":{"x":437,"y":228,"width":124,"height":10}},{"id":"b2762c11-e75b-4d06-b99c-a061584a5f59","block_type":"box","text":"ANNUAL TOTAL RETURNS","page_number":6,"box":{"x":392,"y":244,"width":212,"height":10}},{"id":"fa73ada0-f690-47cb-b41a-76b5988099d8","block_type":"box","text":"BlackRock Advantage Large Cap Core Fund","page_number":6,"box":{"x":319,"y":260,"width":360,"height":13}},{"id":"a7764ae5-771a-4dd0-b9f2-fb68f6a83aff","block_type":"box","text":"As of 12/31","page_number":6,"box":{"x":447,"y":276,"width":103,"height":13}},{"id":"997d67c1-eee4-4b89-a687-924844f2411a","block_type":"box","text":"10.29%","page_number":6,"box":{"x":292,"y":358,"width":44,"height":7}},{"id":"064d043d-9f56-41b6-beeb-3f7ed08ca426","block_type":"box","text":"22.10%","page_number":6,"box":{"x":339,"y":332,"width":45,"height":7}},{"id":"37a45df3-ec8e-4504-ad59-28338e75c5c5","block_type":"box","text":"-5.36%","page_number":6,"box":{"x":389,"y":408,"width":41,"height":7}},{"id":"03b80f94-b8c3-4fbd-853d-b0d731e83081","block_type":"box","text":"29.21%","page_number":6,"box":{"x":436,"y":316,"width":45,"height":7}},{"id":"8473fb09-a926-4938-872f-85d4ef1eba41","block_type":"box","text":"19.92%","page_number":6,"box":{"x":484,"y":336,"width":45,"height":8}},{"id":"ea358c68-af18-4fd9-bd79-3931326e5c4f","block_type":"box","text":"28.66%","page_number":6,"box":{"x":532,"y":317,"width":45,"height":7}},{"id":"51f41a1f-e5ac-48d0-946f-100b4fd387f7","block_type":"box","text":"-20.06%","page_number":6,"box":{"x":578,"y":440,"width":49,"height":8}},{"id":"61ac08aa-fe65-4703-846a-0844212a8fc2","block_type":"box","text":"25.68%","page_number":6,"box":{"x":629,"y":324,"width":44,"height":7}},{"id":"69ebd751-5957-4a52-93d3-dd6631ee4896","block_type":"box","text":"25.72%","page_number":6,"box":{"x":677,"y":324,"width":44,"height":7}},{"id":"8bf36008-cfac-4085-be47-bf854171eecb","block_type":"box","text":"20.38%","page_number":6,"box":{"x":725,"y":335,"width":45,"height":8}},{"id":"f404540c-08d1-4139-aa55-2a29d3b35ea9","block_type":"box","text":"-30%","page_number":6,"box":{"x":237,"y":455,"width":28,"height":7}},{"id":"0774b491-3554-45c6-b590-0853e27e331f","block_type":"box","text":"-20%","page_number":6,"box":{"x":237,"y":433,"width":28,"height":7}},{"id":"db5596bf-36a7-4864-aec5-f005e8bf7e20","block_type":"box","text":"-10%","page_number":6,"box":{"x":237,"y":410,"width":28,"height":8}},{"id":"0371dcf4-71f6-4390-a236-0a8f1ad91dde","block_type":"box","text":"0%","page_number":6,"box":{"x":248,"y":388,"width":17,"height":7}},{"id":"8e296d35-ce06-47b3-944f-5f4663eec5fd","block_type":"box","text":"10%","page_number":6,"box":{"x":241,"y":366,"width":24,"height":7}},{"id":"ac03fc78-7620-471f-b41a-f2119723e2f2","block_type":"box","text":"20%","page_number":6,"box":{"x":240,"y":344,"width":25,"height":7}},{"id":"89c09216-d048-4464-bc34-1341f03b3244","block_type":"box","text":"30%","page_number":6,"box":{"x":240,"y":322,"width":25,"height":7}},{"id":"ac8cf93a-6036-4733-a0f1-11d71b360ad2","block_type":"box","text":"40%","page_number":6,"box":{"x":240,"y":299,"width":25,"height":8}},{"id":"307e3333-69f2-493d-af6e-c8178eaf0643","block_type":"box","text":"2016 2017 2018 2019 2020 2021 2022 2023 2024 2025","page_number":6,"box":{"x":298,"y":465,"width":465,"height":7}},{"id":"8cc7f9ef-05f2-48aa-be42-5f630fcfa6c6","block_type":"box","text":"During the ten-year period shown in the bar char t, the highest return for a quar ter was 21.84% (quar ter ended","page_number":6,"box":{"x":62,"y":485,"width":806,"height":12}},{"id":"c93befec-b3cf-49c0-ab9d-69395a938f2a","block_type":"box","text":"June 30, 2020) and the lowest return for a quar ter was -19.51% (quar ter ended March 31, 2020). The year-to-date","page_number":6,"box":{"x":61,"y":500,"width":845,"height":11}},{"id":"6e2e19c7-ba7a-417c-bc67-545f32813548","block_type":"box","text":"return as of June 30, 2026 was 13.17%.","page_number":6,"box":{"x":61,"y":515,"width":299,"height":11}},{"id":"0ddc07be-81ea-4a0a-a6f7-df1f58618419","block_type":"box","text":"For the periods ended 12/31/25","page_number":6,"box":{"x":70,"y":544,"width":223,"height":10}},{"id":"a5b1dea8-c9c7-4929-aab1-ed480423739f","block_type":"box","text":"Average Annual Total Returns 1 Year 5 Years 10 Years","page_number":6,"box":{"x":69,"y":555,"width":854,"height":10}},{"id":"d0217523-a8f0-4328-870a-684ebb18e167","block_type":"box","text":"BlackRock Advantage Large Cap Core Fund — Class K Shares","page_number":6,"box":{"x":70,"y":573,"width":409,"height":11}},{"id":"c8ead19b-222c-4799-9f29-dcb44791f5cc","block_type":"box","text":"Return Before Taxes 20.38% 14.36% 14.47%","page_number":6,"box":{"x":85,"y":586,"width":840,"height":8}},{"id":"84c34782-73e6-4893-9d06-617ec997968c","block_type":"box","text":"Return After Taxes on Distributions 17.50% 11.34% 11.41%","page_number":6,"box":{"x":85,"y":599,"width":840,"height":8}},{"id":"3004ca92-a580-43c9-a653-8862d1b591bf","block_type":"box","text":"Return After Taxes on Distributions and Sale of Fund Shares 13.21% 10.47% 10.77%","page_number":6,"box":{"x":85,"y":612,"width":840,"height":8}},{"id":"170e9400-02bf-4f33-846b-cbf554cdbd22","block_type":"box","text":"Russell 1000 Index","page_number":6,"box":{"x":70,"y":630,"width":128,"height":8}},{"id":"030e0e59-f9e1-4737-8db8-d0b39fcfc36d","block_type":"box","text":"(Reflects no deduction for fees, expenses or taxes) 17.37% 13.59% 14.59%","page_number":6,"box":{"x":69,"y":643,"width":856,"height":11}},{"id":"35a55b76-ad17-4bfb-a7aa-62c863bc38a0","block_type":"box","text":"After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not","page_number":6,"box":{"x":60,"y":675,"width":840,"height":12}},{"id":"0d305761-199c-4bed-9bdc-6176e923ce72","block_type":"box","text":"reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may","page_number":6,"box":{"x":61,"y":690,"width":835,"height":12}},{"id":"c92eb1a6-6987-42dd-97b9-bab193ffcf56","block_type":"box","text":"differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares through","page_number":6,"box":{"x":61,"y":705,"width":851,"height":12}},{"id":"15584877-6a5a-48ee-8654-777d6a2aa571","block_type":"box","text":"tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.","page_number":6,"box":{"x":60,"y":720,"width":611,"height":11}},{"id":"3ebe8cb2-b2ed-4414-9039-a3f3f3a3c5f8","block_type":"box","text":"Investment Manager","page_number":6,"box":{"x":62,"y":759,"width":187,"height":13}},{"id":"81340e21-a5c5-4868-bed9-eb220681d8ac","block_type":"box","text":"The Fund’s investment manager is BlackRock Advisors, LLC (previously defined as “BlackRock”).","page_number":6,"box":{"x":60,"y":785,"width":709,"height":12}},{"id":"f6a79350-7f62-4222-8d3d-a174a0cf9a28","block_type":"box","text":"Portfolio Managers","page_number":6,"box":{"x":61,"y":824,"width":173,"height":13}},{"id":"e9ff87f9-db92-4061-9a29-c75e09b2f165","block_type":"box","text":"Portfolio Manager","page_number":6,"box":{"x":70,"y":868,"width":121,"height":10}},{"id":"edcf572f-ceb0-41ac-9c29-3cc01c035c98","block_type":"box","text":"Portfolio Manager","page_number":6,"box":{"x":340,"y":856,"width":121,"height":10}},{"id":"23e0b3e9-4d65-4a22-9437-8801d8bbdeab","block_type":"box","text":"of the Fund Since Title","page_number":6,"box":{"x":341,"y":868,"width":425,"height":8}},{"id":"802a98de-1b8c-42af-82b5-db4b40bd5209","block_type":"box","text":"Raffaele Savi 2017 Senior Managing Director of BlackRock, Inc.","page_number":6,"box":{"x":70,"y":886,"width":825,"height":10}},{"id":"19830107-d224-4310-99a8-6a3727e801be","block_type":"box","text":"Travis Cooke, CFA 2017 Managing Director of BlackRock, Inc.","page_number":6,"box":{"x":69,"y":904,"width":780,"height":10}},{"id":"c0f06805-9467-4981-9263-e9e9d902efa5","block_type":"box","text":"6","page_number":6,"box":{"x":61,"y":947,"width":9,"height":9}},{"id":"f56fbfcc-ac10-4f3f-8cf8-7712d09a33d5","block_type":"box","text":"NM0926U-5977676-6/8","page_number":6,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"096f3d9d-0dae-4b1b-bc6d-888f301b117f","block_type":"box","text":"Portfolio Manager","page_number":7,"box":{"x":70,"y":58,"width":121,"height":10}},{"id":"1705192c-ae35-4102-b9bf-610ca3c058d4","block_type":"box","text":"Portfolio Manager","page_number":7,"box":{"x":340,"y":47,"width":121,"height":10}},{"id":"74c93e0f-91fc-421c-b565-e627a209ffaa","block_type":"box","text":"of the Fund Since Title","page_number":7,"box":{"x":341,"y":58,"width":425,"height":8}},{"id":"fe966df7-6429-4ed0-8892-9d314e5dd27b","block_type":"box","text":"Richard Mathieson 2017 Managing Director of BlackRock, Inc.","page_number":7,"box":{"x":70,"y":76,"width":779,"height":11}},{"id":"ad7c0902-017f-4c0d-999a-2c16ec51096e","block_type":"box","text":"Purchase and Sale of Fund Shares","page_number":7,"box":{"x":61,"y":117,"width":309,"height":11}},{"id":"7bb7355a-9e33-46bc-8a3f-f54ea63fb703","block_type":"box","text":"Class K Shares of the Fund are available only to (i) cer tain employee benefit plans, such as health savings accounts,","page_number":7,"box":{"x":61,"y":143,"width":859,"height":12}},{"id":"51ae0b14-194d-431f-bc1a-21d3f26df54b","block_type":"box","text":"and cer tain employer-sponsored retirement plans (not including SEP IRAs, SIMPLE IRAs and SARSEPs) (collectively,","page_number":7,"box":{"x":61,"y":158,"width":844,"height":11}},{"id":"d7a98f13-5987-4747-8cf7-2efe1b3cb45b","block_type":"box","text":"“Employer-Sponsored Retirement Plans”), (ii) collective trust funds, investment companies and other pooled","page_number":7,"box":{"x":62,"y":173,"width":791,"height":11}},{"id":"c99a389f-f2ce-4cfa-bc2f-60f142851efb","block_type":"box","text":"investment vehicles, each of which may purchase shares of the Fund through a Financial Intermediary that has entered","page_number":7,"box":{"x":62,"y":187,"width":874,"height":12}},{"id":"6085dfa8-4924-4bf3-bd83-0c8bc6d06456","block_type":"box","text":"into an agreement with the Fund’s distributor to purchase such shares, (iii) “Institutional Investors,” which include, but","page_number":7,"box":{"x":62,"y":203,"width":871,"height":11}},{"id":"ac603388-19cb-4d23-89f2-a7e10692e3dd","block_type":"box","text":"are not limited to, endowments, foundations, family offices, banks and bank trusts, local, city, and state governmental","page_number":7,"box":{"x":61,"y":217,"width":870,"height":12}},{"id":"43854f59-bfd0-4625-8dd9-90f821bf9d8c","block_type":"box","text":"institutions, corporations and insurance company separate accounts, each of which may purchase shares of the Fund","page_number":7,"box":{"x":62,"y":232,"width":863,"height":11}},{"id":"c6a717af-ea70-4ff0-8045-3bf2cbe9cd0e","block_type":"box","text":"through a Financial Intermediary that has entered into an agreement with the Fund’s distributor to purchase such","page_number":7,"box":{"x":60,"y":247,"width":832,"height":11}},{"id":"811af122-fb2b-4acb-8292-3c9ac99f57ab","block_type":"box","text":"shares, (iv) clients of private banks that purchase shares of the Fund through a Financial Intermediary that has","page_number":7,"box":{"x":61,"y":262,"width":815,"height":11}},{"id":"148263bd-a32d-4d59-90e7-9a9d5987d001","block_type":"box","text":"entered into an agreement with the Fund’s distributor to sell such shares; (v) fee-based advisory platforms of a","page_number":7,"box":{"x":61,"y":276,"width":816,"height":12}},{"id":"ab92e2e5-77ed-4491-a026-dbc2fd69f3dc","block_type":"box","text":"Financial Intermediary that (a) has specifically acknowledged in a written agreement with the Fund’s distributor and/or","page_number":7,"box":{"x":62,"y":291,"width":867,"height":12}},{"id":"ee2bd07c-c495-4271-adbd-35de1ebdeb3c","block_type":"box","text":"its affiliate(s) that the Financial Intermediary shall offer such shares to fee-based advisory clients through an omnibus","page_number":7,"box":{"x":62,"y":306,"width":868,"height":12}},{"id":"e611ca70-d3a6-42a8-a017-3103d77f1709","block_type":"box","text":"account held at the Fund or (b) transacts in the Fund’s shares through another intermediary that has executed such an","page_number":7,"box":{"x":61,"y":321,"width":874,"height":11}},{"id":"b6b74561-df05-44fe-b469-731eb5d790ad","block_type":"box","text":"agreement and (vi) any other investors who met the eligibility criteria for BlackRock Shares or Class K Shares prior to","page_number":7,"box":{"x":61,"y":336,"width":859,"height":11}},{"id":"a39eeafc-35c9-4d3a-8add-4dac6ac2e64f","block_type":"box","text":"August 15, 2016 and have continually held Class K Shares of the Fund in the same account since August 15, 2016.","page_number":7,"box":{"x":60,"y":351,"width":857,"height":11}},{"id":"59d78d95-5447-4f59-89b5-d458efa4aa33","block_type":"box","text":"You may purchase or redeem shares of the Fund each day the New York Stock Exchange is open. Purchase orders may","page_number":7,"box":{"x":60,"y":373,"width":874,"height":12}},{"id":"7af7feb9-b48b-4588-899e-1506c127bd7d","block_type":"box","text":"also be placed by calling (800) 537-4942, by mail (c/o BlackRock, P.O. Box 534429, Pittsburgh, Pennsylvania 15253-","page_number":7,"box":{"x":61,"y":388,"width":868,"height":11}},{"id":"fbd473cd-b82f-4987-991b-007e94b56751","block_type":"box","text":"4429), or online at www.blackrock.com. Institutional Investors are subject to a $5 million minimum initial investment","page_number":7,"box":{"x":61,"y":402,"width":857,"height":12}},{"id":"90eb624c-238d-4fb3-bf98-95cedfc286b1","block_type":"box","text":"requirement. Other investors, including Employer-Sponsored Retirement Plans, have no minimum initial investment","page_number":7,"box":{"x":61,"y":418,"width":842,"height":11}},{"id":"106c01cd-6fb8-4200-83c8-1cdaee5f08c0","block_type":"box","text":"requirement. 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If you are invested through such a plan (and","page_number":7,"box":{"x":62,"y":512,"width":842,"height":12}},{"id":"b6511b95-e850-48e0-add2-5ee5f6c09a46","block_type":"box","text":"Fund shares are not “debt-financed proper ty” to the plan), then the dividends paid by the Fund and the gain realized","page_number":7,"box":{"x":62,"y":527,"width":850,"height":12}},{"id":"a706e123-add2-4e66-bcf0-779c6a4af57a","block_type":"box","text":"from a redemption or exchange of Fund shares will generally not be subject to U.S. federal income taxes until you","page_number":7,"box":{"x":60,"y":542,"width":833,"height":12}},{"id":"886378ed-b37b-4437-908a-4ada33d3b4e1","block_type":"box","text":"withdraw or receive distributions from the plan. 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