{"annotation_id":"fee61849-26b1-4498-94a7-82c5a3e825f4","file_hash":"884598d9917e8b9f82951298a148fa96df40f69f95cff5291108fb92b8df79c9","schema_id":"open/document-extraction","schema_version":"0.5.0","record":{"extraction_type":"boxes","producer":"pdf-extractor-v0.5.0","blocks":[{"id":"77d4cbe6-a402-4abe-9bdf-e28d477a75e2","block_type":"box","text":"AUGUST 28, 2026","page_number":1,"box":{"x":791,"y":47,"width":147,"height":11}},{"id":"2a0318b3-447e-4783-82a0-26586644a40a","block_type":"box","text":"Summary Prospectus","page_number":1,"box":{"x":103,"y":175,"width":502,"height":33}},{"id":"db08ecfd-a6d7-45d4-ae5c-ce4a6727da0b","block_type":"box","text":"BlackRock Equity Dividend Fund","page_number":1,"box":{"x":63,"y":297,"width":267,"height":12}},{"id":"b8d6982e-077c-4509-b347-dfad98cdf3b3","block_type":"box","text":"|","page_number":1,"box":{"x":341,"y":296,"width":2,"height":11}},{"id":"5af7f41f-2b04-4b08-b8e3-42e053497e9d","block_type":"box","text":"Class K Shares","page_number":1,"box":{"x":354,"y":297,"width":119,"height":9}},{"id":"3d32b0a9-4eeb-45fd-82c7-4c6416c4fb92","block_type":"box","text":"Class K: MKDVX","page_number":1,"box":{"x":83,"y":314,"width":99,"height":8}},{"id":"a8f61f35-516e-4393-a0c7-533a46e9c7b1","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":354,"width":808,"height":11}},{"id":"73dff2f6-36b6-49d1-9dcc-d7755f0d6650","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":370,"width":821,"height":11}},{"id":"11347314-7ca4-45ca-ae0b-0649fa751a3b","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":385,"width":748,"height":11}},{"id":"796ac372-a1ca-472f-b54f-a177213f506c","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":401,"width":825,"height":11}},{"id":"9743918e-2015-4341-9db7-befa53551e79","block_type":"box","text":"sending an e-mail request to","page_number":1,"box":{"x":63,"y":417,"width":203,"height":10}},{"id":"80c98038-6640-4f1b-9f8a-04fdcd37ac30","block_type":"box","text":"prospectus.request@blackrock.com","page_number":1,"box":{"x":271,"y":417,"width":261,"height":10}},{"id":"1f3bc03b-1b04-4b57-b777-e049cf10054c","block_type":"box","text":", or from your financial professional. The Fund’s","page_number":1,"box":{"x":534,"y":416,"width":335,"height":11}},{"id":"f54c3b93-1ab9-4e2a-a767-f76e2d51066f","block_type":"box","text":"prospectus and statement of additional information, both dated August 28, 2026 , as amended and supplemented","page_number":1,"box":{"x":63,"y":432,"width":808,"height":11}},{"id":"756361fa-2cc8-41dc-9b37-5f60ff38058b","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":447,"width":729,"height":11}},{"id":"484bb7e2-ea10-4b76-be52-6b27e41e195e","block_type":"box","text":"This Summary Prospectus contains information you should know before investing, including information about","page_number":1,"box":{"x":63,"y":834,"width":774,"height":11}},{"id":"24fee081-b450-4c76-8081-2e749aa24be1","block_type":"box","text":"risks. Please read it before you invest and keep it for future reference.","page_number":1,"box":{"x":63,"y":850,"width":477,"height":10}},{"id":"873e9a83-c8e3-4ee3-873e-1824db3e1afe","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":870,"width":749,"height":11}},{"id":"1676b58d-a17c-46ee-a6b7-1ed13bd526c1","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":886,"width":687,"height":10}},{"id":"39468ef3-6472-4509-884d-d8863c0807de","block_type":"box","text":"Not FDIC Insured","page_number":1,"box":{"x":101,"y":916,"width":112,"height":8}},{"id":"f3c0441c-bf7f-47c7-87c2-f274b8c994b5","block_type":"box","text":"•","page_number":1,"box":{"x":218,"y":919,"width":5,"height":3}},{"id":"dfe39e27-eaeb-42b3-a5cb-95f6df8dc5f7","block_type":"box","text":"May Lose Value","page_number":1,"box":{"x":228,"y":916,"width":101,"height":10}},{"id":"b5a058d4-a2ae-4ef2-93c1-eae8f7687f7d","block_type":"box","text":"•","page_number":1,"box":{"x":334,"y":919,"width":4,"height":3}},{"id":"bea8ee8c-dc48-4d73-965e-6323e1717dbb","block_type":"box","text":"No Bank 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Reimbursements","page_number":2,"box":{"x":69,"y":518,"width":598,"height":11}},{"id":"10ca45af-affe-47d0-a0d9-c8969956f7ba","block_type":"box","text":"1,3","page_number":2,"box":{"x":668,"y":518,"width":10,"height":5}},{"id":"62e6560f-5d02-4b09-a0ae-11c5f324b3e5","block_type":"box","text":"0.59%","page_number":2,"box":{"x":884,"y":518,"width":41,"height":9}},{"id":"549722b2-2d74-4cb2-adcf-52bb96dc6c7e","block_type":"box","text":"1","page_number":2,"box":{"x":61,"y":538,"width":3,"height":4}},{"id":"09c65547-2297-4016-8926-987f9843684c","block_type":"box","text":"As described in the “Management of the Fund” section of the Fund’s prospectus beginning on page 30, BlackRock has contractually agreed to","page_number":2,"box":{"x":81,"y":538,"width":837,"height":9}},{"id":"05f3f42d-663b-4119-aeaf-0eae285dfae1","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":548,"width":854,"height":10}},{"id":"fd13745e-19ef-45ab-82e3-a637a0f83c29","block_type":"box","text":"income mutual funds and exchange-traded funds managed by BlackRock or its affiliates that have a contractual management fee, through","page_number":2,"box":{"x":81,"y":559,"width":810,"height":9}},{"id":"490077de-0f74-443b-850e-0684126a7e95","block_type":"box","text":"June 30, 2028. In addition, BlackRock has contractually agreed to waive its management fees by the amount of investment advisory fees the","page_number":2,"box":{"x":81,"y":569,"width":832,"height":9}},{"id":"f738ad9a-b6a6-4e5c-913b-b54cd71c2017","block_type":"box","text":"Fund pays to BlackRock indirectly through its investment in money market funds managed by BlackRock or its affiliates, through June 30, 2028.","page_number":2,"box":{"x":81,"y":579,"width":847,"height":9}},{"id":"01e2fc0a-7b5c-4cba-8c2a-c4732fcf1eae","block_type":"box","text":"The contractual agreements may be terminated upon 90 days’ notice by a majority of the non-interested trustees of the Fund or by a vote of a","page_number":2,"box":{"x":81,"y":590,"width":833,"height":9}},{"id":"7b8d736c-ea2a-43ae-8d02-6de116a223a8","block_type":"box","text":"majority of the outstanding voting securities of the Fund.","page_number":2,"box":{"x":81,"y":600,"width":330,"height":9}},{"id":"37df0cd9-ca7b-4fcf-81d1-52c2c6df0b0e","block_type":"box","text":"2","page_number":2,"box":{"x":61,"y":613,"width":3,"height":3}},{"id":"338536e6-dd11-4297-9972-9b2d0f941d9b","block_type":"box","text":"The Total Annual Fund Operating Expenses do not correlate to the ratios of expenses to average net assets given in the Fund’s most recent","page_number":2,"box":{"x":81,"y":613,"width":820,"height":9}},{"id":"2d129972-5825-4fe5-9ab1-30dfb9eb4e85","block_type":"box","text":"Annual Financial Statements and Additional Information, which do not include Acquired Fund Fees and Expenses.","page_number":2,"box":{"x":81,"y":623,"width":662,"height":9}},{"id":"19eb71ee-0586-44c3-b123-7415a2744e44","block_type":"box","text":"3","page_number":2,"box":{"x":61,"y":636,"width":3,"height":4}},{"id":"71d382a9-fee9-4092-93d8-90581e48e0f1","block_type":"box","text":"As described in the “Management of the Fund” section of the Fund’s prospectus beginning on page 30, BlackRock has contractually agreed to","page_number":2,"box":{"x":81,"y":636,"width":837,"height":9}},{"id":"63baf604-2234-429a-a3ba-0d0babee2521","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":646,"width":771,"height":10}},{"id":"53d1b876-6048-44af-bc27-1bb2331241f0","block_type":"box","text":"Reimbursements (excluding Dividend Expense, Interest Expense, Acquired Fund Fees and Expenses and cer tain other Fund expenses) to 0.66%","page_number":2,"box":{"x":81,"y":657,"width":844,"height":9}},{"id":"7533c5f5-1c17-4ed7-8ed9-619d01f085dd","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":667,"width":851,"height":9}},{"id":"14fc9bff-1d00-4145-a39e-2b1c748a02fb","block_type":"box","text":"interested trustees of the Fund or by a vote of a majority of the outstanding voting securities of the Fund.","page_number":2,"box":{"x":81,"y":677,"width":616,"height":9}},{"id":"a008664c-ce0c-4aee-9343-b6c0cc53b24d","block_type":"box","text":"Example:","page_number":2,"box":{"x":61,"y":695,"width":74,"height":13}},{"id":"dcbaedea-21ff-463a-a90b-ead79771bf26","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":711,"width":830,"height":12}},{"id":"7513e4df-2fe5-40e0-80f3-0ae109db70fe","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":726,"width":832,"height":12}},{"id":"2e2701e6-eee2-48f2-ab6b-ae8e61f60248","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":741,"width":832,"height":12}},{"id":"582b7238-1684-4610-b57e-73708c4b9341","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":756,"width":859,"height":12}},{"id":"86dfbfa8-5b0c-4fff-bd50-e5e1c216baa8","block_type":"box","text":"or lower, based on these assumptions your costs would be:","page_number":2,"box":{"x":61,"y":771,"width":436,"height":11}},{"id":"a94e2c41-73c7-430c-9ec4-f4007453e01b","block_type":"box","text":"1 Year 3 Years 5 Years 10 Years","page_number":2,"box":{"x":631,"y":800,"width":292,"height":8}},{"id":"139fcadc-542b-4875-8bde-63bc88ba59ff","block_type":"box","text":"Class K Shares $60 $189 $329 $738","page_number":2,"box":{"x":69,"y":817,"width":843,"height":10}},{"id":"00477fa6-140d-43f0-b021-340d4a4432a6","block_type":"box","text":"Portfolio Turnover:","page_number":2,"box":{"x":61,"y":842,"width":151,"height":10}},{"id":"91d943d9-b107-44a2-80e6-363537e531a7","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":859,"width":800,"height":11}},{"id":"300d9e6f-4770-4779-8f4a-e07351883376","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":873,"width":850,"height":12}},{"id":"687a343e-d6eb-4cae-906b-f8d080ac3a32","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":888,"width":870,"height":12}},{"id":"a5f871ee-2790-4d4e-940c-cc65883d7b13","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":903,"width":839,"height":11}},{"id":"d72d3086-4b7a-40f0-a9b4-b4cdfbe9e5b7","block_type":"box","text":"75% of the average value of its por tfolio.","page_number":2,"box":{"x":61,"y":918,"width":298,"height":11}},{"id":"5862c7ce-b5cc-4e9e-a806-500bee0dccf2","block_type":"box","text":"2","page_number":2,"box":{"x":61,"y":947,"width":9,"height":9}},{"id":"c0b60d67-ce89-4eee-af20-df052e5340f4","block_type":"box","text":"NM1026U-5993078-2/8","page_number":2,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"007dac51-e59e-4019-a996-9057d2e3498c","block_type":"box","text":"Principal Investment Strategies of the Fund","page_number":3,"box":{"x":61,"y":43,"width":394,"height":13}},{"id":"1bcc0094-9cbb-4e4e-ad2c-4a1a1f162bdf","block_type":"box","text":"The Fund seeks to achieve its objective by investing primarily in a diversified por tfolio of equity securities. Under","page_number":3,"box":{"x":60,"y":69,"width":824,"height":11}},{"id":"97a36455-0a34-499b-9003-3e15697e634d","block_type":"box","text":"normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment","page_number":3,"box":{"x":61,"y":84,"width":803,"height":11}},{"id":"004aa844-fb95-4dce-9b90-10d1f4c6ccc5","block_type":"box","text":"purposes, in dividend-paying equity securities and derivatives that provide investment exposure to such securities or to","page_number":3,"box":{"x":62,"y":99,"width":872,"height":11}},{"id":"0cf9ff87-1c8e-4643-8176-dd749811abb6","block_type":"box","text":"one or more market risk factors associated with such securities. The Fund may invest in securities of companies with","page_number":3,"box":{"x":61,"y":113,"width":861,"height":12}},{"id":"505e75b7-77d9-49a3-b773-dffa12eea575","block_type":"box","text":"any market capitalization, but will generally focus on large cap securities. The Fund may also invest in conver tible","page_number":3,"box":{"x":61,"y":128,"width":832,"height":12}},{"id":"e69e1167-e28b-4609-9cdd-e2606e23e247","block_type":"box","text":"securities and non-conver tible preferred stock. Equity securities include common stock, preferred stock, or securities","page_number":3,"box":{"x":61,"y":143,"width":861,"height":11}},{"id":"6c964014-fed6-43d2-8c82-55c88d862d34","block_type":"box","text":"or other instruments whose price is linked to the value of common stock. For purposes of the Fund’s 80% policy,","page_number":3,"box":{"x":61,"y":158,"width":826,"height":11}},{"id":"882b5fd7-6d48-41f8-b637-2139abdd6e58","block_type":"box","text":"dividend-paying equity securities are securities of companies that pay out a por tion of their profits to shareholders of","page_number":3,"box":{"x":61,"y":173,"width":859,"height":11}},{"id":"dadb48c1-05af-4973-a2d1-42be4bcd3c31","block_type":"box","text":"such securities on a periodic basis (i.e., at least once within the company’s latest fiscal year).","page_number":3,"box":{"x":61,"y":187,"width":690,"height":12}},{"id":"db56949c-0101-4fb4-9c84-5f5a95316dea","block_type":"box","text":"The Fund may invest up to 25% of its total assets in securities of foreign issuers. The Fund may invest in securities","page_number":3,"box":{"x":60,"y":210,"width":848,"height":12}},{"id":"2c738611-4dc1-46de-b779-c7f55325ca90","block_type":"box","text":"from any country. The Fund may invest in securities denominated in both U.S. dollars and non-U.S. dollar currencies.","page_number":3,"box":{"x":60,"y":225,"width":856,"height":11}},{"id":"9d0d1383-b9ae-4afd-a028-c0dd3679fc88","block_type":"box","text":"The Fund may invest in the securities of foreign issuers in the form of American Depositary Receipts, European","page_number":3,"box":{"x":60,"y":240,"width":817,"height":11}},{"id":"a8f7cce4-01ff-4fe6-b47c-3e69f7199928","block_type":"box","text":"Depositary Receipts or other securities conver tible into securities of foreign issuers.","page_number":3,"box":{"x":62,"y":254,"width":618,"height":12}},{"id":"4c4118a7-54ab-4504-9a16-9bf4bdb464da","block_type":"box","text":"BlackRock chooses investments for the Fund that it believes will both increase in value over the long term and provide","page_number":3,"box":{"x":62,"y":277,"width":868,"height":12}},{"id":"d4b76753-2cba-4721-bc3f-7b9792df49be","block_type":"box","text":"current income, focusing on investments that will do both instead of those that will favor current income over capital","page_number":3,"box":{"x":61,"y":292,"width":854,"height":11}},{"id":"8b7806b8-0fd0-4281-ba82-3c12ef7824a7","block_type":"box","text":"appreciation.","page_number":3,"box":{"x":61,"y":307,"width":93,"height":11}},{"id":"2dd86c42-4f22-4746-b941-1ad00892544a","block_type":"box","text":"Principal Risks of Investing in the Fund","page_number":3,"box":{"x":61,"y":346,"width":354,"height":13}},{"id":"877d90d6-81da-4974-b5c4-875c606d00ce","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":372,"width":860,"height":11}},{"id":"d04337a2-e469-40f4-a2cc-1f96ebc05a74","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":387,"width":802,"height":11}},{"id":"c158a56d-a2b6-4e13-a32d-2192a6555f33","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":401,"width":866,"height":12}},{"id":"e719973e-7201-471a-b2c8-3a71806858df","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":416,"width":869,"height":12}},{"id":"47797112-c775-4857-a8b6-b0e2b0638efa","block_type":"box","text":"government agency. The following is a summary description of principal risks of investing in the Fund. The relative","page_number":3,"box":{"x":60,"y":431,"width":835,"height":12}},{"id":"9afa3215-063e-457c-b460-6cad0489f8c7","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":446,"width":793,"height":11}},{"id":"a9a7a8c8-10eb-4191-9dff-fa8af931414f","block_type":"box","text":"Equity Securities Risk","page_number":3,"box":{"x":81,"y":466,"width":166,"height":11}},{"id":"ff6a1421-fd6f-4cac-a34f-d9cc773bf3f7","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":466,"width":685,"height":11}},{"id":"25de2e73-8622-443f-afe4-b11600fb76e4","block_type":"box","text":"company’s financial condition and overall market and economic conditions.","page_number":3,"box":{"x":81,"y":481,"width":550,"height":11}},{"id":"0b51df15-bc35-42c4-9087-84400549601f","block_type":"box","text":"Income Producing Stock Availability Risk","page_number":3,"box":{"x":81,"y":501,"width":310,"height":11}},{"id":"6caf7fa2-caa9-4848-b88c-4876fc733210","block_type":"box","text":"—","page_number":3,"box":{"x":396,"y":506,"width":17,"height":1}},{"id":"dc7bd76d-768d-4d19-a374-53c73c475243","block_type":"box","text":"Depending upon market conditions, income producing common stock","page_number":3,"box":{"x":418,"y":501,"width":507,"height":11}},{"id":"5231b991-e35a-43b0-a41b-6d0a78640d70","block_type":"box","text":"that meets the Fund’s investment criteria may not be widely available and/or may be highly concentrated in only a","page_number":3,"box":{"x":80,"y":516,"width":837,"height":11}},{"id":"55a2a17d-92e8-41ca-af7d-8f755fde9f53","block_type":"box","text":"few market sectors. This may limit the ability of the Fund to produce current income while remaining fully diversified.","page_number":3,"box":{"x":81,"y":530,"width":852,"height":12}},{"id":"4d0542e1-51d7-4b5c-8541-e22997d24c29","block_type":"box","text":"Investment Style Risk","page_number":3,"box":{"x":81,"y":550,"width":166,"height":12}},{"id":"f86d39d1-bb96-43e6-a7ca-afc343a4fa50","block_type":"box","text":"—","page_number":3,"box":{"x":252,"y":556,"width":17,"height":1}},{"id":"3b8933d9-5557-444f-8066-bdf4d9b336e0","block_type":"box","text":"Under cer tain market conditions, value investments have per formed better during periods","page_number":3,"box":{"x":274,"y":550,"width":658,"height":12}},{"id":"88016201-a7e2-415f-8df9-0b18e78fb9c9","block_type":"box","text":"of economic recovery. Therefore, this investment style may over time go in and out of favor. At times when the","page_number":3,"box":{"x":81,"y":565,"width":809,"height":12}},{"id":"29286745-3677-47fb-b57e-a30bfc4d6098","block_type":"box","text":"investment style used by the Fund is out of favor, the Fund may underper form other equity funds that use different","page_number":3,"box":{"x":82,"y":580,"width":841,"height":11}},{"id":"a9b0e539-1a10-4a8c-ba16-9cf8f4b6e6bc","block_type":"box","text":"investment styles.","page_number":3,"box":{"x":82,"y":595,"width":131,"height":11}},{"id":"d0bc1066-aa31-48e6-a8d4-386098a2903d","block_type":"box","text":"Foreign Securities Risk","page_number":3,"box":{"x":81,"y":615,"width":176,"height":11}},{"id":"c0b3e2b5-3b97-42d1-af41-3d84b4d42536","block_type":"box","text":"— Foreign investments often involve special risks not present in U.S. investments that can","page_number":3,"box":{"x":260,"y":615,"width":668,"height":11}},{"id":"4d6f0efe-3ad2-460a-bf9f-1f7d13e49604","block_type":"box","text":"increase the chances that the Fund will lose money. These risks include:","page_number":3,"box":{"x":82,"y":630,"width":531,"height":11}},{"id":"396745a3-accf-4e2f-aa4b-e684c5656531","block_type":"box","text":"The Fund generally holds its foreign securities and cash in foreign banks and securities depositories, which may","page_number":3,"box":{"x":101,"y":650,"width":823,"height":11}},{"id":"df10ab5f-ba89-4c91-bb8c-1eb2a464ce36","block_type":"box","text":"be recently organized or new to the foreign custody business and may be subject to only limited or no regulatory","page_number":3,"box":{"x":102,"y":664,"width":823,"height":12}},{"id":"b880a0b7-b2ea-4f9e-90b1-4f820c8683f2","block_type":"box","text":"oversight.","page_number":3,"box":{"x":101,"y":680,"width":70,"height":11}},{"id":"de157649-2ef2-4001-973b-9af6a44d90be","block_type":"box","text":"Changes in foreign currency exchange rates can affect the value of the Fund’s por tfolio.","page_number":3,"box":{"x":101,"y":699,"width":644,"height":12}},{"id":"81b46230-6eb2-425b-89cc-3531cfa82361","block_type":"box","text":"The economies of cer tain foreign markets may not compare favorably with the economy of the United States with","page_number":3,"box":{"x":101,"y":719,"width":830,"height":12}},{"id":"a6a00ea8-f5b7-46db-ab05-abac4b68498e","block_type":"box","text":"respect to such issues as growth of gross national product, reinvestment of capital, resources and balance of","page_number":3,"box":{"x":102,"y":734,"width":808,"height":12}},{"id":"cbc49b83-1b97-4c74-9c87-acdfe0ca8ec9","block_type":"box","text":"payments position.","page_number":3,"box":{"x":102,"y":749,"width":137,"height":11}},{"id":"1ab4fdaa-5ecd-4551-b00b-80ec9f630977","block_type":"box","text":"The governments of cer tain countries, or the U.S. Government with respect to cer tain countries, may prohibit or","page_number":3,"box":{"x":101,"y":769,"width":821,"height":11}},{"id":"bfdaaba9-edff-49a5-90b3-84f99e9886d2","block_type":"box","text":"impose substantial restrictions through capital controls and/or sanctions on foreign investments in the capital","page_number":3,"box":{"x":102,"y":784,"width":809,"height":11}},{"id":"55c5c920-4b0d-4348-99c1-90199e0e10fd","block_type":"box","text":"markets or cer tain industries in those countries, which may prohibit or restrict the ability to own or transfer","page_number":3,"box":{"x":102,"y":798,"width":784,"height":12}},{"id":"9bc40232-7535-469e-842f-1eb851b37a56","block_type":"box","text":"currency, securities, derivatives or other assets.","page_number":3,"box":{"x":101,"y":814,"width":352,"height":11}},{"id":"f212052c-3bca-4aa5-b2de-1d9132e912e5","block_type":"box","text":"Many foreign governments do not supervise and regulate stock exchanges, brokers and the sale of securities to","page_number":3,"box":{"x":102,"y":833,"width":823,"height":12}},{"id":"1c218e6c-cff2-4aab-ba65-43fd41b14390","block_type":"box","text":"the same extent as does the United States and may not have laws to protect investors that are comparable to","page_number":3,"box":{"x":101,"y":848,"width":811,"height":12}},{"id":"d562723d-dff3-48bb-a418-6ed2bbc93a86","block_type":"box","text":"U.S. securities laws.","page_number":3,"box":{"x":102,"y":863,"width":148,"height":9}},{"id":"cd654acb-de04-4069-91bd-a25a6eebeec5","block_type":"box","text":"Settlement and clearance procedures in cer tain foreign markets may result in delays in payment for or delivery of","page_number":3,"box":{"x":101,"y":883,"width":834,"height":12}},{"id":"636cd165-cd3e-4194-9a8f-adf41c19efc4","block_type":"box","text":"securities not typically associated with settlement and clearance of U.S. investments.","page_number":3,"box":{"x":101,"y":898,"width":628,"height":11}},{"id":"f1edfed5-493e-479c-81eb-092c72453121","block_type":"box","text":"3","page_number":3,"box":{"x":927,"y":947,"width":9,"height":9}},{"id":"b45fa904-5329-40ab-86c1-52ee0251169b","block_type":"box","text":"NM1026U-5993078-3/8","page_number":3,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"3298a747-ed58-4d9e-a9f9-24923edbe2eb","block_type":"box","text":"The Fund’s claims to recover foreign withholding taxes may not be successful, and if the likelihood of recovery of","page_number":4,"box":{"x":101,"y":42,"width":830,"height":11}},{"id":"6e18e6c7-437b-4240-b734-eb5517db6859","block_type":"box","text":"foreign withholding taxes materially decreases, due to, for example, a change in tax regulation or approach in the","page_number":4,"box":{"x":101,"y":57,"width":831,"height":11}},{"id":"b6b16a2e-931d-473b-b326-8616ed16107a","block_type":"box","text":"foreign country, accruals in the Fund’s net asset value for such refunds may be written down par tially or in full,","page_number":4,"box":{"x":101,"y":71,"width":813,"height":12}},{"id":"4f26cde4-a3c3-49b9-85b6-8728beaa502c","block_type":"box","text":"which will adversely affect the Fund’s net asset value.","page_number":4,"box":{"x":101,"y":86,"width":395,"height":12}},{"id":"0734b395-7a10-4fdc-8e8d-eae2f7b9bfea","block_type":"box","text":"Convertible Securities Risk","page_number":4,"box":{"x":81,"y":106,"width":206,"height":9}},{"id":"ded7c549-921f-4f63-9f3f-985ffa3a72a7","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":106,"width":593,"height":12}},{"id":"471a5cf5-8a8f-4837-9ef7-2ed46ea557e4","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":121,"width":853,"height":11}},{"id":"3c1c672d-8392-4c7c-926c-fdee69145728","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":136,"width":855,"height":11}},{"id":"c5c56660-e97e-4611-bb3f-50a61f661d7b","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":151,"width":816,"height":11}},{"id":"40700413-91a8-4ca4-bba8-3f674dc30be0","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":166,"width":796,"height":11}},{"id":"ae268f56-98af-4714-9e74-814e70ed2e92","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":180,"width":812,"height":12}},{"id":"09b83317-c70b-4908-a4f4-937f617c5824","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":195,"width":809,"height":12}},{"id":"b38fbaf3-1732-445b-8362-4481a57649e6","block_type":"box","text":"Large-Capitalization Companies Risk","page_number":4,"box":{"x":81,"y":215,"width":276,"height":12}},{"id":"28b153db-7b16-4c0e-aa05-7f9cdf798486","block_type":"box","text":"— Large-capitalization companies may be less able than smaller-capitalization","page_number":4,"box":{"x":361,"y":215,"width":573,"height":12}},{"id":"2096d0a3-005f-4840-8873-eecef65a0256","block_type":"box","text":"companies to adapt to changing market conditions and competitive challenges. Large-capitalization companies may","page_number":4,"box":{"x":81,"y":230,"width":848,"height":12}},{"id":"d436bc6b-df46-4793-9511-1853a6a53c75","block_type":"box","text":"be more mature and subject to more limited growth potential compared with smaller-capitalization companies. The","page_number":4,"box":{"x":81,"y":245,"width":839,"height":11}},{"id":"4c7cf07b-a648-4187-9f2d-b15c6aee6374","block_type":"box","text":"per formance of large-capitalization companies could trail the overall per formance of the broader securities markets.","page_number":4,"box":{"x":82,"y":260,"width":851,"height":11}},{"id":"df73a9be-98cd-4e4e-b26e-2557021ff208","block_type":"box","text":"Market Risk and Selection Risk","page_number":4,"box":{"x":81,"y":280,"width":240,"height":9}},{"id":"f9df92bd-bc87-4f18-a0a2-c521481e32be","block_type":"box","text":"— Market risk is the risk that one or more markets in which the Fund invests will","page_number":4,"box":{"x":324,"y":280,"width":593,"height":9}},{"id":"0a72c849-3a2d-4964-961d-51a79a1811f7","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":4,"box":{"x":81,"y":295,"width":851,"height":11}},{"id":"2d17462c-024e-4ce8-ad94-da2342759055","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":4,"box":{"x":82,"y":309,"width":824,"height":12}},{"id":"5263f810-df50-432c-9913-c1ecb9249f5e","block_type":"box","text":"movements and over longer periods during market downturns. Securities or other investments held by the Fund may","page_number":4,"box":{"x":82,"y":324,"width":851,"height":12}},{"id":"76bca3b8-2e3b-495c-bea8-a3e93dcadaa5","block_type":"box","text":"underper form the markets, the relevant indices or benchmarks, or the securities selected by other funds with","page_number":4,"box":{"x":82,"y":339,"width":802,"height":11}},{"id":"4c32b2e6-a6f3-4d60-bd45-82c2ea702500","block_type":"box","text":"similar investment objectives and investment strategies, or may otherwise fail to per form as intended. The value of","page_number":4,"box":{"x":81,"y":354,"width":849,"height":11}},{"id":"a9a5b75f-6fbc-4af5-b73e-34fc14654f03","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":4,"box":{"x":81,"y":369,"width":843,"height":11}},{"id":"820f7ea2-dfe5-4311-b285-94e9c7a8a3e8","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":4,"box":{"x":81,"y":383,"width":830,"height":12}},{"id":"433b5aa5-70fe-40e8-96f3-7aa973b03269","block_type":"box","text":"issuers, exchange, country, group of countries, region, market, industry, group of industries, sector or asset class.","page_number":4,"box":{"x":82,"y":398,"width":840,"height":12}},{"id":"ce736fb3-ba93-4ce9-adde-6b6e2b7b6c10","block_type":"box","text":"The success of a Fund’s activities could be affected by interest rates, availability of credit, inflation rates, economic","page_number":4,"box":{"x":81,"y":413,"width":851,"height":11}},{"id":"c667ab1a-0d52-4aaa-8d58-9edf0e7e19b4","block_type":"box","text":"uncer tainty, changes in laws, tariffs and trade barriers, supply chain disruptions, economic sanctions, currency","page_number":4,"box":{"x":82,"y":428,"width":815,"height":11}},{"id":"7884a7fa-1172-4934-9f22-1cf975b8e1d6","block_type":"box","text":"exchange controls, and local, regional or global events such as war, acts of terrorism, natural and environmental","page_number":4,"box":{"x":81,"y":443,"width":826,"height":11}},{"id":"5c9ab9a0-e8ee-4c36-b5e4-bae931a9c86b","block_type":"box","text":"disasters, the spread of infectious illness or other public health issues like pandemics or epidemics, recessions, or","page_number":4,"box":{"x":81,"y":458,"width":850,"height":11}},{"id":"e0feb802-c8a3-4a75-b31d-d4847b53a0b6","block_type":"box","text":"other events. This means you may lose money.","page_number":4,"box":{"x":81,"y":473,"width":343,"height":11}},{"id":"a65556cb-3b43-45cb-8783-85a04ab0b95e","block_type":"box","text":"Recent policy initiatives under taken by the U.S. government have the potential to impact international relations,","page_number":4,"box":{"x":82,"y":492,"width":818,"height":12}},{"id":"fe0d6517-493d-4e54-8fdc-129a9f54d3b1","block_type":"box","text":"trade agreements and the overall regulatory environment in ways that could create uncer tainty and instability in","page_number":4,"box":{"x":80,"y":507,"width":819,"height":12}},{"id":"86ff0728-113f-410b-93b2-bdc785422909","block_type":"box","text":"domestic and global markets, and could adversely affect the investment per formance of the Fund. In par ticular,","page_number":4,"box":{"x":81,"y":522,"width":819,"height":12}},{"id":"a133250b-553d-40c4-bbf5-dec109c39b85","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":4,"box":{"x":81,"y":537,"width":846,"height":11}},{"id":"8c499492-96f4-49bd-8034-fb36211444cd","block_type":"box","text":"costs for impor ted goods, disruptions in supply chains, reduced foreign investment, and instability in regions where","page_number":4,"box":{"x":81,"y":552,"width":848,"height":11}},{"id":"1fb9dc24-7517-4b1c-b68c-1da4d85fd50e","block_type":"box","text":"the Fund invests.","page_number":4,"box":{"x":80,"y":567,"width":125,"height":9}},{"id":"a159ac08-48a4-4d5a-8e87-d206a7fe2ca9","block_type":"box","text":"Operational and Technology Risks","page_number":4,"box":{"x":82,"y":587,"width":254,"height":11}},{"id":"e1684f34-e9b3-4583-9443-de9660ea1d1b","block_type":"box","text":"— The Fund is directly and indirectly susceptible to operational and technology","page_number":4,"box":{"x":340,"y":587,"width":578,"height":11}},{"id":"dd9386d0-c8f2-4323-acd3-dfab84e39e6c","block_type":"box","text":"risks, including those related to human errors, processing errors, communication errors, systems failures,","page_number":4,"box":{"x":82,"y":601,"width":779,"height":12}},{"id":"22b1ca29-e50a-41fa-8b7d-0d9c843a3732","block_type":"box","text":"cybersecurity incidents, and the use of ar tificial intelligence and machine learning (“AI”), which may result in losses","page_number":4,"box":{"x":81,"y":616,"width":848,"height":12}},{"id":"3dc459c0-4ebf-449f-9676-6365edb7dce8","block_type":"box","text":"for the Fund and its shareholders or may impair the Fund’s operations. While the Fund’s service providers are","page_number":4,"box":{"x":81,"y":631,"width":806,"height":11}},{"id":"4f5bca30-7eb0-470b-88fc-e7222820d96a","block_type":"box","text":"required to have appropriate operational, information security and cybersecurity risk management policies and","page_number":4,"box":{"x":82,"y":646,"width":807,"height":11}},{"id":"8734bc51-928b-468e-8340-afdf47b2d05f","block_type":"box","text":"procedures, their methods of risk management may differ from those of the Fund. Operational and technology risks","page_number":4,"box":{"x":82,"y":661,"width":846,"height":11}},{"id":"70fdb631-cd96-41fa-aa80-98474681d9d6","block_type":"box","text":"for the issuers in which the Fund invests could also result in material adverse consequences for such issuers and","page_number":4,"box":{"x":81,"y":675,"width":836,"height":12}},{"id":"5f69969e-5c9e-4462-895d-6c2f50f27958","block_type":"box","text":"may cause the Fund’s investments in such issuers to lose value.","page_number":4,"box":{"x":82,"y":690,"width":474,"height":12}},{"id":"6b8119a8-676e-4257-8d4f-431239867f05","block_type":"box","text":"Preferred Securities Risk","page_number":4,"box":{"x":81,"y":710,"width":189,"height":9}},{"id":"26db023e-48a3-4b75-9ab8-c034dad5dd71","block_type":"box","text":"— Preferred securities may pay fixed or adjustable rates of return. Preferred securities","page_number":4,"box":{"x":274,"y":710,"width":636,"height":12}},{"id":"f5fc92e2-2767-48bb-a9d4-f34285a88d7c","block_type":"box","text":"are subject to issuer-specific and market risks applicable generally to equity securities. In addition, a company’s","page_number":4,"box":{"x":81,"y":725,"width":824,"height":12}},{"id":"7679b918-8cde-47f4-be45-8ab0009d0953","block_type":"box","text":"preferred securities generally pay dividends only after the company makes required payments to holders of its","page_number":4,"box":{"x":82,"y":740,"width":806,"height":11}},{"id":"b872ce05-ce09-4c92-8d54-4fec5189a51b","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":4,"box":{"x":81,"y":755,"width":842,"height":11}},{"id":"90258c55-822e-44d2-bc88-eeab835f120e","block_type":"box","text":"and other debt to actual or perceived changes in the company’s financial condition or prospects. Preferred","page_number":4,"box":{"x":81,"y":769,"width":781,"height":12}},{"id":"75ddcf8b-6775-4f99-a91a-497b05ac5200","block_type":"box","text":"securities of smaller companies may be more vulnerable to adverse developments than preferred securities of","page_number":4,"box":{"x":81,"y":784,"width":812,"height":12}},{"id":"515d85e8-c771-43c2-ba79-3996464ed4d4","block_type":"box","text":"larger companies.","page_number":4,"box":{"x":82,"y":799,"width":129,"height":12}},{"id":"14bdb0da-4939-46db-8e8c-d6681bc8c2c5","block_type":"box","text":"Risk of Investing in the United States","page_number":4,"box":{"x":81,"y":819,"width":283,"height":12}},{"id":"237c17df-3ccd-4786-a092-81e22db80636","block_type":"box","text":"—","page_number":4,"box":{"x":369,"y":825,"width":17,"height":0}},{"id":"ca31873b-8b25-408a-bb1f-fc864c67c54d","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":819,"width":518,"height":12}},{"id":"05edbf96-c0fb-44ef-9b65-430aa5a008fd","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":834,"width":847,"height":11}},{"id":"6a5e0fd8-7445-4041-83bd-ae61d1be4cc1","block_type":"box","text":"exposure.","page_number":4,"box":{"x":81,"y":851,"width":70,"height":9}},{"id":"80438773-1a76-4e32-90f9-ded22572e7bc","block_type":"box","text":"4","page_number":4,"box":{"x":61,"y":947,"width":9,"height":9}},{"id":"879f1e9b-2098-426d-ba94-694d0a8778e8","block_type":"box","text":"NM1026U-5993078-4/8","page_number":4,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"3011e34c-f76b-48e0-9b0c-47fa703155b3","block_type":"box","text":"Performance Information","page_number":5,"box":{"x":61,"y":43,"width":224,"height":11}},{"id":"88865dd4-92f7-4700-ab9b-6237ade79d67","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":69,"width":855,"height":11}},{"id":"f405e180-ddd3-4326-aba4-0e18840beb61","block_type":"box","text":"risks of investing in the Fund. The per formance information for periods prior to March 28, 2016, the commencement","page_number":5,"box":{"x":61,"y":84,"width":859,"height":11}},{"id":"e1be1b16-fd6d-466a-8b43-544c6f5eb612","block_type":"box","text":"of Class K Shares, shows the per formance of the Fund’s Institutional Shares. The per formance of Class K Shares","page_number":5,"box":{"x":61,"y":98,"width":840,"height":12}},{"id":"162e7415-b98e-4de7-8a3d-8d642b985667","block_type":"box","text":"would be substantially similar to Institutional Shares because Class K Shares are invested in the same por tfolio of","page_number":5,"box":{"x":60,"y":113,"width":846,"height":12}},{"id":"dc3762e1-07d0-4e69-ac7c-2a54af833bbc","block_type":"box","text":"securities and per formance would differ only to the extent that Institutional Shares and Class K Shares have different","page_number":5,"box":{"x":61,"y":128,"width":867,"height":12}},{"id":"a5fca7a5-bb4a-47b5-a4f8-5b197f915b7f","block_type":"box","text":"expenses. The actual returns of Class K Shares would have been higher than those of Institutional Shares because","page_number":5,"box":{"x":61,"y":143,"width":848,"height":12}},{"id":"90b1249a-fbbf-4ef0-aa56-2fa9dcf6b261","block_type":"box","text":"Class K Shares have lower expenses than Institutional Shares. The table compares the Fund’s per formance to that of","page_number":5,"box":{"x":61,"y":158,"width":868,"height":11}},{"id":"37227785-bc8c-4c5f-8c3e-1a01bf63af4e","block_type":"box","text":"the Standard & Poor’s (S&P) 500 Index and the Russell 1000 Value Index, which are relevant to the Fund because","page_number":5,"box":{"x":60,"y":173,"width":842,"height":11}},{"id":"f4e8766f-6359-423f-beae-9c5db4787a5c","block_type":"box","text":"they have characteristics similar to the Fund’s investment strategies. To the extent that dividends and distributions","page_number":5,"box":{"x":60,"y":188,"width":845,"height":11}},{"id":"a07f7bb1-d267-48f0-9a09-8cc8e008edff","block_type":"box","text":"have been paid by the Fund, the per formance information for the Fund in the char t and table assumes reinvestment of","page_number":5,"box":{"x":61,"y":202,"width":873,"height":12}},{"id":"16ba6326-fa04-4882-8724-2c3ac4874353","block_type":"box","text":"the dividends and distributions. As with all such investments, past per formance (before and after taxes) is not an","page_number":5,"box":{"x":60,"y":217,"width":834,"height":11}},{"id":"0496708d-77e6-4082-afa1-969c9b994138","block_type":"box","text":"indication of future results. The table includes all applicable fees. If the Fund’s investment manager and its affiliates","page_number":5,"box":{"x":62,"y":232,"width":857,"height":11}},{"id":"db168a41-0302-49f3-aaa3-32fd9a9f1409","block_type":"box","text":"had not waived or reimbursed cer tain Fund expenses during these periods, the Fund’s returns would have been lower.","page_number":5,"box":{"x":61,"y":247,"width":865,"height":11}},{"id":"3a837a51-1e77-4c81-af12-5fa134f2f058","block_type":"box","text":"Updated information on the Fund’s per formance, including its current net asset value, can be obtained by visiting","page_number":5,"box":{"x":62,"y":262,"width":832,"height":11}},{"id":"bf4dc507-8a0a-45d1-a565-98e28f6804c3","block_type":"box","text":"www.blackrock.com or can be obtained by phone at 800-882-0052.","page_number":5,"box":{"x":60,"y":277,"width":494,"height":11}},{"id":"7f874e63-1cbd-4200-a257-be727fe092c7","block_type":"box","text":"Class K Shares","page_number":5,"box":{"x":437,"y":299,"width":124,"height":10}},{"id":"0e3f20fa-298a-48ff-a64d-248f0e1b29a8","block_type":"box","text":"ANNUAL TOTAL RETURNS","page_number":5,"box":{"x":392,"y":316,"width":212,"height":10}},{"id":"fcb08b42-b593-4e61-a8a0-94228a34bc9e","block_type":"box","text":"BlackRock Equity Dividend Fund","page_number":5,"box":{"x":366,"y":332,"width":266,"height":12}},{"id":"9b8aac94-9d7b-4522-9da6-a3bedd09b3c6","block_type":"box","text":"As of 12/31","page_number":5,"box":{"x":447,"y":348,"width":103,"height":12}},{"id":"6d8e6b98-c936-4628-8164-fc7006508a3e","block_type":"box","text":"16.29%","page_number":5,"box":{"x":292,"y":422,"width":44,"height":7}},{"id":"57dca803-c30f-46ee-9de4-023ff61b934a","block_type":"box","text":"16.92%","page_number":5,"box":{"x":340,"y":420,"width":44,"height":7}},{"id":"6ce73941-4e7b-41dd-9228-fe9d69aaa2b2","block_type":"box","text":"-7.05%","page_number":5,"box":{"x":389,"y":509,"width":41,"height":8}},{"id":"0c6b806a-0414-41bc-ad16-644e537c3cf1","block_type":"box","text":"27.67%","page_number":5,"box":{"x":436,"y":386,"width":45,"height":7}},{"id":"7d0c48bf-73d5-4a06-bba2-3e994c13c581","block_type":"box","text":"4.01%","page_number":5,"box":{"x":488,"y":460,"width":37,"height":7}},{"id":"19985b5a-7a6b-45b3-9efd-de5848ea6fe1","block_type":"box","text":"20.50%","page_number":5,"box":{"x":532,"y":408,"width":45,"height":8}},{"id":"e39db385-013b-4371-b5b9-2e01caf560b5","block_type":"box","text":"-3.83%","page_number":5,"box":{"x":582,"y":499,"width":40,"height":8}},{"id":"724a55a0-8041-425f-aa25-686458834bbd","block_type":"box","text":"12.77%","page_number":5,"box":{"x":629,"y":432,"width":44,"height":8}},{"id":"d4e9514a-02ba-4566-a6b1-535e9432d100","block_type":"box","text":"9.89%","page_number":5,"box":{"x":681,"y":441,"width":36,"height":8}},{"id":"bea268e2-94f9-46bd-9a17-c37f56e5885c","block_type":"box","text":"21.83%","page_number":5,"box":{"x":725,"y":404,"width":45,"height":8}},{"id":"d5dee572-c9dd-4930-a4ca-d1deecbb2ef2","block_type":"box","text":"-15%","page_number":5,"box":{"x":237,"y":526,"width":28,"height":8}},{"id":"d47fbde7-5f26-49d3-9961-8ce1cde5e0d0","block_type":"box","text":"-10%","page_number":5,"box":{"x":237,"y":511,"width":28,"height":7}},{"id":"fef71553-4c49-45c4-beda-c96067de9da9","block_type":"box","text":"-5%","page_number":5,"box":{"x":245,"y":495,"width":20,"height":8}},{"id":"b7470640-7223-4a05-bfc9-63c9405cc9a9","block_type":"box","text":"0%","page_number":5,"box":{"x":248,"y":480,"width":17,"height":7}},{"id":"911b4487-a085-43d0-92db-c28243d3f83f","block_type":"box","text":"5%","page_number":5,"box":{"x":248,"y":464,"width":17,"height":7}},{"id":"9f045d08-5bf1-4687-8e74-caf99f10eda2","block_type":"box","text":"10%","page_number":5,"box":{"x":241,"y":449,"width":24,"height":7}},{"id":"339c30ae-63e6-4631-a530-37055ae04232","block_type":"box","text":"15%","page_number":5,"box":{"x":241,"y":433,"width":24,"height":7}},{"id":"14e3cd2e-8e40-4d8b-b99a-4b8edae79cad","block_type":"box","text":"20%","page_number":5,"box":{"x":240,"y":418,"width":25,"height":7}},{"id":"33da21e3-372c-451e-b179-7da1dda2b171","block_type":"box","text":"25%","page_number":5,"box":{"x":240,"y":402,"width":25,"height":7}},{"id":"ae4e9da3-214e-4b68-a592-766d0af691af","block_type":"box","text":"30%","page_number":5,"box":{"x":240,"y":386,"width":25,"height":8}},{"id":"60ad8b26-4f79-4df1-adcc-35d698c6e773","block_type":"box","text":"35%","page_number":5,"box":{"x":240,"y":371,"width":25,"height":7}},{"id":"f445c3ba-601c-4357-b87b-34eaccf41ee0","block_type":"box","text":"2016 2017 2018 2019 2020 2021 2022 2023 2024 2025","page_number":5,"box":{"x":298,"y":536,"width":465,"height":7}},{"id":"7e6264c6-f1d3-41e3-a5ba-9b6cb5e10971","block_type":"box","text":"During the ten-year period shown in the bar char t, the highest return for a quar ter was 17.42% (quar ter ended","page_number":5,"box":{"x":62,"y":557,"width":806,"height":11}},{"id":"eccbc527-866b-47e1-b2ee-2a589dfd58dc","block_type":"box","text":"December 31, 2020) and the lowest return for a quar ter was -24.34% (quar ter ended March 31, 2020). The year-to","page_number":5,"box":{"x":62,"y":572,"width":853,"height":11}},{"id":"65aad56a-626a-4195-981f-4b5993ed8bbb","block_type":"box","text":"date return as of June 30, 2026 was 12.45%.","page_number":5,"box":{"x":61,"y":586,"width":337,"height":11}},{"id":"44ff2711-1bd7-409c-bccf-2a10b1bb5022","block_type":"box","text":"For the periods ended 12/31/25","page_number":5,"box":{"x":70,"y":615,"width":223,"height":10}},{"id":"6641e71d-7940-4e0b-beff-0d0579de2513","block_type":"box","text":"Average Annual Total Returns 1 Year 5 Years 10 Years","page_number":5,"box":{"x":69,"y":627,"width":854,"height":10}},{"id":"4f318936-cbee-4b68-b856-f0a1ed671c30","block_type":"box","text":"BlackRock Equity Dividend Fund — Class K Shares","page_number":5,"box":{"x":70,"y":645,"width":334,"height":10}},{"id":"5868ccb7-9bec-4740-9656-c3454306e862","block_type":"box","text":"Return Before Taxes 21.83% 11.84% 11.37%","page_number":5,"box":{"x":85,"y":658,"width":840,"height":8}},{"id":"9455686a-022b-4a2b-a9fd-2c566f638715","block_type":"box","text":"Return After Taxes on Distributions 18.72% 8.91% 8.50%","page_number":5,"box":{"x":85,"y":670,"width":840,"height":9}},{"id":"501bd532-caea-46d1-978d-9d6f53f8342b","block_type":"box","text":"Return After Taxes on Distributions","page_number":5,"box":{"x":85,"y":683,"width":228,"height":9}},{"id":"635b4149-acbc-4524-a6e0-1ccc2fdbe17f","block_type":"box","text":"and Sale of Fund Shares 14.62% 8.73% 8.46%","page_number":5,"box":{"x":85,"y":695,"width":840,"height":8}},{"id":"f8deac65-1238-49af-9828-bb06bc68c1c7","block_type":"box","text":"S&P 500 Index","page_number":5,"box":{"x":69,"y":713,"width":99,"height":8}},{"id":"348f05df-ac96-4f6b-be08-f6a2c50a7ce6","block_type":"box","text":"(Reflects no deduction for fees, expenses or taxes) 17.88% 14.42% 14.82%","page_number":5,"box":{"x":69,"y":727,"width":856,"height":10}},{"id":"012299b1-3b7d-477d-8835-ad0aedd747f1","block_type":"box","text":"Russell 1000 Value Index","page_number":5,"box":{"x":70,"y":745,"width":168,"height":8}},{"id":"918f6d20-1254-4e81-8310-60788ee2a0f6","block_type":"box","text":"(Reflects no deduction for fees, expenses or taxes) 15.91% 11.33% 10.53%","page_number":5,"box":{"x":69,"y":758,"width":856,"height":10}},{"id":"981f9886-3e45-454d-a721-141a5a21553a","block_type":"box","text":"After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not","page_number":5,"box":{"x":60,"y":790,"width":840,"height":12}},{"id":"9cf988b1-8215-4b47-be23-edb46df38103","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":5,"box":{"x":61,"y":805,"width":835,"height":11}},{"id":"bc0ce394-2205-4e25-b9ea-07579fa73da1","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":5,"box":{"x":61,"y":820,"width":851,"height":11}},{"id":"d5f7d822-8964-4e1b-93e6-3a7115ce254a","block_type":"box","text":"tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.","page_number":5,"box":{"x":60,"y":835,"width":611,"height":11}},{"id":"dc3ad9be-9084-44cd-b77a-d07fe229e1c6","block_type":"box","text":"Investment Manager","page_number":5,"box":{"x":62,"y":874,"width":187,"height":13}},{"id":"30416009-242b-4ba2-9476-99d8ab06136d","block_type":"box","text":"The Fund’s investment manager is BlackRock Advisors, LLC (previously defined as “BlackRock”).","page_number":5,"box":{"x":60,"y":900,"width":709,"height":11}},{"id":"9b758640-3238-4117-9678-7e2e0b138c08","block_type":"box","text":"5","page_number":5,"box":{"x":928,"y":947,"width":9,"height":9}},{"id":"ec7fc53e-7554-471e-82e2-d63111ce74cb","block_type":"box","text":"NM1026U-5993078-5/8","page_number":5,"box":{"x":757,"y":969,"width":131,"height":7}},{"id":"658345be-1f17-41b2-8745-dec5d31c4601","block_type":"box","text":"Portfolio Managers","page_number":6,"box":{"x":61,"y":43,"width":173,"height":13}},{"id":"6f23a386-1b55-49ce-9286-b108d10906bb","block_type":"box","text":"Portfolio Manager","page_number":6,"box":{"x":70,"y":87,"width":121,"height":10}},{"id":"f1043976-f743-4e4c-9971-8f8eb607ecdc","block_type":"box","text":"Portfolio Manager","page_number":6,"box":{"x":362,"y":75,"width":121,"height":10}},{"id":"995bc05b-5c99-4a49-9e66-50001bb136fb","block_type":"box","text":"of the Fund Since Title","page_number":6,"box":{"x":363,"y":87,"width":427,"height":8}},{"id":"7df67d8f-0013-4952-8432-fdf7a0c02107","block_type":"box","text":"Cem Inal 2025 Managing Director of BlackRock, Inc.","page_number":6,"box":{"x":69,"y":105,"width":826,"height":10}},{"id":"aa864222-63e5-4c49-8490-fa408018e917","block_type":"box","text":"David Zhao 2017 Managing Director of BlackRock, Inc.","page_number":6,"box":{"x":70,"y":123,"width":825,"height":10}},{"id":"d9444607-4ef5-49db-bdcc-fc25ecd50edd","block_type":"box","text":"Purchase and Sale of Fund Shares","page_number":6,"box":{"x":61,"y":163,"width":309,"height":11}},{"id":"042405ec-f515-44b9-a39e-00564b8ba070","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":6,"box":{"x":61,"y":189,"width":859,"height":12}},{"id":"e93cb40f-c33b-474d-adfa-d4b42962ea4f","block_type":"box","text":"and cer tain employer-sponsored retirement plans (not including SEP IRAs, SIMPLE IRAs and SARSEPs) (collectively,","page_number":6,"box":{"x":61,"y":204,"width":844,"height":12}},{"id":"359ab41f-5f38-4145-b603-22c215746f59","block_type":"box","text":"“Employer-Sponsored Retirement Plans”), (ii) collective trust funds, investment companies and other pooled","page_number":6,"box":{"x":62,"y":219,"width":791,"height":11}},{"id":"1712fb64-b3e6-4054-a223-c8c0d674c33e","block_type":"box","text":"investment vehicles, each of which may purchase shares of the Fund through a Financial Intermediary that has entered","page_number":6,"box":{"x":62,"y":234,"width":874,"height":11}},{"id":"f602ba4b-a899-49ae-8a30-c9ef0af7ac03","block_type":"box","text":"into an agreement with the Fund’s distributor to purchase such shares, (iii) “Institutional Investors,” which include, but","page_number":6,"box":{"x":62,"y":249,"width":871,"height":11}},{"id":"4bdc7871-107c-434a-a3a9-6bff811b5cb8","block_type":"box","text":"are not limited to, endowments, foundations, family offices, banks and bank trusts, local, city, and state governmental","page_number":6,"box":{"x":61,"y":263,"width":870,"height":12}},{"id":"f17fbbb2-6e85-4e2e-bc88-84c4e723f078","block_type":"box","text":"institutions, corporations and insurance company separate accounts, each of which may purchase shares of the Fund","page_number":6,"box":{"x":62,"y":278,"width":863,"height":12}},{"id":"9c34c0ff-fccb-47f6-9216-77dfa3f96e38","block_type":"box","text":"through a Financial Intermediary that has entered into an agreement with the Fund’s distributor to purchase such","page_number":6,"box":{"x":60,"y":293,"width":832,"height":12}},{"id":"e7350f81-49c5-4bb4-b04a-f7c7cd5022be","block_type":"box","text":"shares, (iv) clients of private banks that purchase shares of the Fund through a Financial Intermediary that has","page_number":6,"box":{"x":61,"y":308,"width":815,"height":12}},{"id":"027c34e7-db50-41c2-9abc-500feadf3382","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":6,"box":{"x":61,"y":323,"width":816,"height":11}},{"id":"bd2e213e-1f12-43ce-88b5-3929a7e736d7","block_type":"box","text":"Financial Intermediary that (a) has specifically acknowledged in a written agreement with the Fund’s distributor and/or","page_number":6,"box":{"x":62,"y":338,"width":867,"height":11}},{"id":"78a73b90-19cd-4fab-8e1a-059a849c1cf3","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":6,"box":{"x":62,"y":352,"width":868,"height":12}},{"id":"2e043160-cd1c-4139-a691-ef173b83928c","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":6,"box":{"x":61,"y":368,"width":874,"height":11}},{"id":"ba6c93ce-6652-4eb2-b574-17aee953f78e","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":6,"box":{"x":61,"y":382,"width":859,"height":12}},{"id":"03008d5c-8f4b-4494-b1f4-46bdd71ba33c","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":6,"box":{"x":60,"y":397,"width":857,"height":12}},{"id":"b76acd5a-f7e5-417d-9221-9e33c7fe5fc0","block_type":"box","text":"You may purchase or redeem shares of the Fund each day the New York Stock Exchange is open. 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