BlackRock Health Sciences Opportunities Portfolio
BlackRock Funds · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
BlackRock Health Sciences Opportunities Portfolio is an actively managed U.S. equity fund. 21% of SHSSX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 87% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2025 Q3
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.
The fund invests at least 80% of its assets in equity securities of companies in health sciences and related industries, including biotechnology, pharmaceuticals, medical equipment and supplies, health care providers, and diagnostic services. The fund concentrates more than 25% of its assets in the health sciences sector and may hold securities of non-U.S. companies. Up to 20% of assets may be invested in other equity securities outside health sciences.
| Share class | Gross | Net |
|---|---|---|
| SHSSX | 0.84% | 0.84% |
| SHISX | 1.15% | 1.15% |
| SHSAX | 1.09% | 1.09% |
| SHSCX | 1.85% | 1.85% |
| C000037661 | 1.45% | 1.44% |
| C000172900 | 0.75% | 0.75% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 43.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.77% |
| Cash & short-term | 1.37% |
| Other | 0.01% |
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Health Care | 93.0% |
| International | 4.7% |
| Cash | 1.4% |
| Other | 1.0% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +8.86% | +18.17% | +20.45% | 15.05% | -13.37% | |
| +8.50% | +17.03% | +18.66% | 15.05% | -13.54% | |
| +8.59% | +17.30% | +19.02% | 15.06% | -13.53% | |
| +7.73% | +14.54% | +14.51% | 15.05% | -14.01% | |
| +8.18% | +16.00% | +16.83% | 15.05% | -13.75% | |
| +8.95% | +18.51% | +21.08% | 15.06% | -13.30% |
These classes hold the same portfolio, so the 6.57pp spread over 5 years is the cost difference between them — roughly 1.31pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| LLY | ELI LILLY & COMPANYLLY | 12.29% | $1,105.00 | $725.60M | 656.6K |
| JNJ | JOHNSON & JOHNSONJNJ | 8.77% | $225.33 | $518.08M | 2.3M |
| UNH | UNITEDHEALTH GROUP INCUNH | 6.10% | $380.31 | $360.31M | 947.4K |
| MRK | MERCK & COMPANY INCMRK | 4.94% | $118.72 | $291.63M | 2.5M |
| GILD | GILEAD SCIENCES INCGILD | 4.19% | $134.43 | $247.53M | 1.8M |
| ABBV | ABBVIE INCABBV | 3.94% | $217.72 | $232.53M | 1.1M |
| AMGN | AMGEN INCAMGN | 3.37% | $336.79 | $198.77M | 590.2K |
| TMO | THERMO FISHER SCIENTIFIC INCTMO | 3.02% | $492.51 | $178.45M | 362.3K |
| VRTX | VERTEX PHARMACEUTICALS INCVRTX | 2.74% | $447.54 | $161.97M | 361.9K |
| PFE | PFIZER INCPFE | 2.62% | $26.18 | $154.44M | 5.9M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-29 — not a live quote, and not what the fund paid.
Top 10 positions are 51.97% of net assets, top 25 74.05%, across 150 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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