Equity

BALPX

Event Driven Equity Fund

  • NAV as of Apr 07, 2026 $9.96
    52 WK: 9.45 - 10.07
  • 1 Day NAV Change as of Apr 07, 2026 $0.02 (0.20%)
  • NAV Total Return as of Apr 07, 2026 YTD: 0.91%

Overview

Investment Approach

Invests primarily in equity and equity-related securities of companies that are undergoing transformative corporate events, including announced mergers and acquisitions, spin-offs and split-offs, financial or strategic restructurings, management changes and other catalysts. The fund will make long and short investments in developed market companies across market capitalizations and sectors, as well as investing opportunistically across the capital structure using fixed income instruments.
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Performance

Performance

Distributions

This fund does not have any distributions.
Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

Past distributions are not indicative of future distributions.

Certain Funds record and have an ex-dividend date daily on undistributed net investment income, with distributions paid monthly.

Click here for historical distribution data and here for upcoming distribution estimates

  1y 3y 5y 10y
Total Return (%) 7.16 4.94 3.24 4.30
Return w/ Sales Charge (%) 1.53 3.07 2.13 3.74
Benchmark (%) 4.00 4.74 3.34 2.26
Morningstar Category Avg. (%) 8.10 6.50 3.56 4.50
Morningstar Ranking 20/46 33/42 23/42 11/33
Morningstar Quartile 2 4 3 2
Lipper Category Avg. (%) 17.87 17.49 11.58 13.54
Lipper Ranking 20/44 33/40 22/39 10/28
Lipper Quartile 2 4 3 2
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 0.41 -0.60 0.41 7.16 15.57 17.27 52.34
Return w/ Sales Charge (%) -4.87 -5.82 -4.87 1.53 9.50 11.12 44.35
Benchmark (%) 0.85 0.29 0.85 4.00 14.89 17.86 25.04
Morningstar Category Avg. (%) 0.74 -0.68 0.74 8.10 20.80 19.14 55.26
Lipper Category Avg. (%) -1.99 -4.79 -1.99 17.87 62.49 73.64 257.57
  2021 2022 2023 2024 2025
Total Return (%) 1.60 -0.25 5.15 1.95 8.19
Annual w/ Sales Charge (%) -3.74 -5.49 -0.37 -3.40 2.51
Benchmark (%) 0.05 1.47 5.02 5.25 4.18
Morningstar Category Avg. (%) 4.14 -1.75 5.38 4.14 9.03
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

 

On 3/1/2021 the Fund began to track the 4pm pricing variant of the ICE BofA 3-MO US Treasury Bill. Historical index data prior to 3/1/2021 is for the 3pm pricing variant of the ICE BofA 3-MO US Treasury Bill. Index data on and after 3/1/2021 is for the 4pm pricing variant of the ICE BofA 3-MO US Treasury Bill.

Click here for historical distribution data and here for upcoming distribution estimates

Key Facts

Key Facts

Size of Fund (Millions)
as of Apr 07, 2026
$4,777.6 M
Share Class launch date
Dec 19, 2007
Benchmark Index
ICE BofA 3 Month Treasury Bill Index (G0O1)
Lipper Classification
Alt Event Driven Funds
Max Offer Price
as of Apr 07, 2026
$10.51
Turnover Percent in the Annual Report
as of May 31, 2025
81%
Size of Class (Millions)
as of Apr 07, 2026
$98.7 M
Asset Class
Equity
Morningstar Category
Event Driven
CUSIP
09250J759
Open to New Investors
Yes

Portfolio Characteristics

Portfolio Characteristics

P/E Ratio - Long
as of Feb 27, 2026
28.54
P/E Ratio - Short
as of Feb 27, 2026
25.64
R-Squared (3y)
as of Mar 31, 2026
0.83
Market Cap - Short (Millions)
as of Feb 27, 2026
$ 230,332.9 M
Beta (3y)
as of Mar 31, 2026
1.56
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2023
-1.07%
Number of Holdings (Short)
as of Feb 27, 2026
77
P/B Ratio
as of Mar 31, 2026
2.74
Alpha (3y)
as of Mar 31, 2026
-0.19
Market Cap - Long (Millions)
as of Feb 27, 2026
$ 59,198.6 M
Fund Standard Deviation (3y)
as of Mar 31, 2026
3.63
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
4.48%
Number of Holdings (Long)
as of Feb 27, 2026
163
Active Share
as of Mar 31, 2026
50.00%
For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Gross Expense Ratio 1.60%
Net Expense Ratio 1.51%

Net Expense Ratio excluding Investment Related Expenses is 1.38%

  • Acquired Fund Fees and Expenses 0.13%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Apr 25, 2025)
Analyst-Driven % as of Apr 25, 2025
100.00
Data Coverage % as of Apr 25, 2025
100.00

Lipper Leader

 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Feb 28, 2026 out of 41, 4,129, 41, 27 and 41 Funds, respectively in Lipper's Alt Event Driven Funds classification.

Holdings

Holdings

as of Feb 27, 2026
Name Weight (%)
ABBOTT LABORATORIES 10.18
KENVUE INC 8.51
NORFOLK SOUTHERN CORPORATION 8.31
CHART INDUSTRIES INC 7.98
INTERNATIONAL BUSINESS MACHINES CORP 7.27
Name Weight (%)
OAK-EAGLE ACQUIRECO INC 6.62
PENUMBRA INC 6.11
AGNATEN SE (LUXEMBOURG) 4.05
HOLOGIC INC 3.95
AVIDITY BIOSCIENCES INC 3.74
Name Market Value Weight (%) Shares
as of Feb 27, 2026
Issuer Weight (%)
ABBOTT LABORATORIES 10.18
KENVUE INC 8.51
NORFOLK SOUTHERN CORPORATION 8.31
CHART INDUSTRIES INC 7.98
INTERNATIONAL BUSINESS MACHINES CORP 7.27
Issuer Weight (%)
OAK-EAGLE ACQUIRECO INC 6.62
PENUMBRA INC 6.11
AGNATEN SE (LUXEMBOURG) 4.05
HOLOGIC INC 3.95
AVIDITY BIOSCIENCES INC 3.74
Missing Issuers data
Detailed Holdings and Analytics
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. The Fund is actively managed and its details, holdings and characteristics will vary. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

as of Feb 27, 2026

% of Market Value

Type Long Short Net
as of Feb 27, 2026

% of Market Value

Type Long Short Net
as of Feb 27, 2026

% of Market Value

Type Long Short Net
as of Feb 27, 2026

% of Market Value

Type Long Short Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Mark McKenna
Mark McKenna
Managing Director

Mark R. McKenna, Managing Director, is Founder and Global Head of Event Driven. Mr. McKenna is responsible for managing BlackRock's event-driven investing efforts.

Read More

Mark R. McKenna, Managing Director, is Founder and Global Head of Event Driven. Mr. McKenna is responsible for managing BlackRock's event-driven investing efforts.

 

Prior to joining BlackRock in 2014, Mr. McKenna was a managing director at Harvard Management Company (HMC) and co-founder of HMC's event driven fund. From 2004 to 2009, Mr. McKenna was portfolio manager of the event driven strategy at Caxton Associates, LLC. Previous to Caxton, Mr. McKenna spent five years at Citigroup's Global and Corporate Investment Bank as a vice president in mergers and acquisitions. Before graduate school, Mr. McKenna served as a lieutenant in the United States Navy's Nuclear Submarine Force, where he conducted strategic deterrent patrols onboard the USS Ohio and was a certified nuclear engineer by the Department of Naval Reactors.

 

Mr. McKenna earned a B.Engr. in electrical engineering from New York Maritime College and an MBA, with distinction, from NYU.

Portfolio Manager

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

This fund does not seek to follow a sustainable, impact or ESG investment strategy. For more information regarding the fund's investment strategy, please see the fund's prospectus or, as applicable, shareholder report.

Literature

Literature

 

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

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USR-9694