Investment objective & strategy
As of Sept. 25, 2025 · prospectusObjective. The investment objective of BlackRock Health Sciences Opportunities Portfolio (the Fund), a series of BlackRock Funds SM (the Trust), is to provide long-term growth of capital.
Strategy. Under normal market conditions, the Fund invests at least 80% of its total assets in equity securities, primarily common stock, of companies in health sciences and related industries. Investments in derivatives are counted toward the Funds 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one of more market risk factors associated with such securities. The health sciences sector can include companies in health care equipment and supplies, health care providers and services, biotechnology, and pharmaceuticals. Health sciences and related industries can include, but are not limited to, businesses involved in the development, production, and distribution or delivery of medical and pharmaceutical products and services, companies engaged in biotechnology and … Under normal market conditions, the Fund invests at least 80% of its total assets in equity securities, primarily common stock, of companies in health sciences and related industries. Investments in derivatives are counted toward the Funds 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one of more market risk factors associated with such securities. The health sciences sector can include companies in health care equipment and supplies, health care providers and services, biotechnology, and pharmaceuticals. Health sciences and related industries can include, but are not limited to, businesses involved in the development, production, and distribution or delivery of medical and pharmaceutical products and services, companies engaged in biotechnology and medical research and development, companies that may design, manufacture or distribute medical, dental and optical equipment and supplies, including diagnostic equipment, and companies that may also provide diagnostic services or operate health facilities and hospitals, or provide related administrative, management and financial support. The Fund will concentrate its investments ( i.e., invest more than 25% of its assets) in health sciences or related industries, and may invest in companies located in non-U.S. countries. The Fund reserves the right to invest up to 20% of its total assets in other types of securities. These may include stocks of companies not associated with health sciences.
Top holdings
As of Feb. 27, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| LILLY ELI and CO | — | $740.96M | 11.34% |
| JOHNSON&JOHNSON | — | $667.86M | 10.22% |
| ABBVIE INC | — | $268.68M | 4.11% |
| GILEAD SCIENCES INC | — | $258.64M | 3.96% |
| MERCK & CO | — | $231.77M | 3.55% |
| AMGEN INC | — | $228.30M | 3.49% |
| UNITEDHEALTH GRP | — | $198.81M | 3.04% |
| INTUITIVE SURGICAL INC | — | $160.65M | 2.46% |
| ABBOTT LABS | — | $158.46M | 2.43% |
| DANAHER CORP | — | $150.86M | 2.31% |
Portfolio moves
Nov 28, 2025 → Feb 27, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| BlackRock Health Sciences Trust | 90% | — |
| Health Sciences Portfolio | 89% | 0.94% |
| JNL/Mellon Healthcare Sector Fund | 73% | 0.28% |
Advisers
| Firm | Role |
|---|---|
| BlackRock Advisors, LLC | Adviser |
Footnotes
- Expense ratio as of September 25, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 27, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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