BlackRock Tactical Opportunities Fund
Data updated: 2026-09-25
C000173964 — BlackRock Tactical Opportunities Fund. United States Large Cap Blend / Core Equity · $6.01B AUM. Holdings, fees, performance and SEC filings.
C000173964 Fund Overview
BlackRock Tactical Opportunities Fund is a US mutual fund managed by Blackrock Funds, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Blackrock Funds
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $6.01B
- 1-year return: 14.8%
- SEC CIK: 0000844779
- SEC series ID: S000001870
- Share class ID: C000173964
C000173964 Investment Objective and Strategy
BlackRock Tactical Opportunities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Blackrock Funds.
Investment objective
The investment objective of BlackRock Tactical Opportunities Fund (the “Fund”), a series of BlackRock Funds SM , is to seek total return.
Principal investment strategy
The Fund uses an asset allocation strategy, investing varying percentages of its portfolio in three major categories: stocks, bonds and money market instruments. The Fund has wide flexibility in the relative weightings given to each category. The Fund management team will tactically allocate to asset classes around the world that are deemed to offer attractive risk-adjusted returns. In selecting investments, the Fund management team will identify global macro opportunities and position the Fund using a combination of individual securities and derivatives. With respect to its equity investments, the Fund may invest in individual equity securities to an unlimited extent. The Fund may invest in common stock, preferred stock, securities convertible into common stock, non-convertible preferred stock and depositary receipts.
The Fund may invest in securities of both U.S. and non-U.S. issuers without limit, which can be U.S. dollar-based or non-U.S. dollar-based and may be currency hedged or unhedged. The Fund may invest in securities of companies of any market capitalization. With respect to its fixed-income investments, the Fund may invest in individual fixed-income securities to an unlimited extent. The Fund may invest in a portfolio of fixed-income securities such as corporate bonds and notes, commercial and residential mortgage-backed securities (bonds that are backed by a mortgage loan or pools of loans secured either by commercial property or residential mortgages, as applicable), collateralized mortgage obligations (bonds that are backed by cash flows from pools of mortgages and may have multiple classes with different payment rights and protections), collateralized debt obligations (CDOs), asset-backed securities, convertible securities, debt obligations of governments and their sub-divisions (including those of non-U.S.
governments), other floating or variable rate obligations, municipal obligations and zero coupon debt securities. The Fund may also invest a significant portion of its assets in non-investment grade bonds (junk bonds or distressed securities), non-investment grade bank loans, foreign bonds (both U.S. dollar- and non-U.S. dollar-denominated) and bonds of emerging market issuers. The Fund may invest in non-U.S. dollar-denominated bonds on a currency hedged or unhedged basis. With respect to its cash investments, the Fund may hold high quality money market securities, including short term U.S. Government securities, U.S. Government agency securities, securities issued by U.S. Government-sponsored enterprises and U.S. Government instrumentalities, bank obligations, commercial paper, including asset-backed commercial paper, corporate notes and repurchase agreements.
The Fund may invest a significant portion of its assets in money market funds, including those advised by BlackRock or its affiliates. The Fund may invest in derivatives, including, but not limited to, interest rate, total return and credit default swaps, indexed and inverse floating rate securities, options, futures, options on futures and swaps and foreign currency transactions (including swaps), for hedging purposes, as well as to increase the return on its portfolio investments. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as reverse repurchase agreements or dollar rolls). The Fund may also use forward foreign currency exchange contracts (obligations to buy or sell a currency at a set rate in the future) to hedge against movement in the value of non-U.S.
currencies. The Fund may invest in U.S. and non-U.S. real estate investment trusts (REITs), structured products (including, but not limited to, structured notes, credit linked notes and participation notes, or other instruments evidencing interests in special purpose vehicles, trusts, or other entities that hold or represent interests in fixed-income securities) and floating rate securities (such as bank loans).
C000173964 Holdings
Top 10 holdings of BlackRock Tactical Opportunities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| NVIDIA Corp. | 4.02% |
| Apple, Inc. | 3.61% |
| BlackRock Liquidity Funds | 3.27% |
| United States of America | 3.12% |
| Microsoft Corp. | 2.63% |
| United States of America | 2.57% |
| United States of America | 2.57% |
| Amazon.com, Inc. | 2.43% |
| Euro | 2.08% |
| United States of America | 1.94% |
C000173964 Portfolio Allocation
Asset-class allocation of BlackRock Tactical Opportunities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 69.5% |
| Cash & Equivalents | 19.6% |
| Derivatives | 1.1% |
C000173964 Performance
Total returns for C000173964 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 8.1% |
| 1 year | 14.8% |
| 3 years (annualised) | 10.0% |
| 5 years (annualised) | 7.2% |
C000173964 Risk Information
Risk metrics for C000173964, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.5%
C000173964 Costs and Fees
C000173964 costs about $59 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.59%
- Gross expense ratio: 0.60%
- Portfolio turnover: 83%
- Brokerage commissions: 12.88 bps of average net assets (SEC N-CEN)
C000173964 Cashflows
Over the 12 months to 2026-04, BlackRock Tactical Opportunities Fund had net inflows of $1.74B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $414.80M |
| 2026-03 | $93.81M |
| 2026-02 | $88.79M |
| 2026-01 | $144.26M |
| 2025-12 | $68.23M |
| 2025-11 | $150.10M |
C000173964 Debt Constituents
No individual debt constituents are reported in BlackRock Tactical Opportunities Fund's latest SEC N-PORT filing.
C000173964 Prospectus and SEC Filings
Official BlackRock Tactical Opportunities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-08-28
- Prospectus (485BPOS) — filed 2025-08-26
- Prospectus (485BPOS) — filed 2024-08-28
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-26
- Portfolio holdings (N-PORT) — filed 2026-03-27
- Annual census (N-CEN) — filed 2025-07-11
- Annual census (N-CEN) — filed 2024-07-12
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.