BlackRock Health Sciences Opportunities Portfolio
Actively managed U.S. stock fund
As of its 2026 Q2 report, BlackRock Health Sciences Opportunities Portfolio held 152 positions with $5.91B in net assets. Its ten largest holdings made up 52.0% of the fund. The SHSSX share class costs 0.84% a year. Over the 12 months to May 2026, SHSSX returned 17.2%, with dividends reinvested. In 2026 Q2 it added 16 new positions and exited 26.
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.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
12.29% | $725.60M | 656.6K | $1,105.00 | |
8.77% | $518.08M | 2.3M | $225.33 | |
6.10% | $360.31M | 947.4K | $380.31 | |
4.94% | $291.63M | 2.5M | $118.72 | |
4.19% | $247.53M | 1.8M | $134.43 | |
ABBVABBVIE INC | 3.94% | $232.53M | 1.1M | $217.72 |
AMGNAMGEN INC | 3.37% | $198.77M | 590.2K | $336.79 |
3.02% | $178.45M | 362.3K | $492.51 | |
2.74% | $161.97M | 361.9K | $447.54 | |
PFEPFIZER INC | 2.62% | $154.44M | 5.9M | $26.18 |
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.
All 152 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 99.77% |
| Cash & short-term | 1.37% |
| Other | 0.01% |
Derivatives are shown at market value, not notional exposure.
By sector
- Health Care
- 93.0%
- International
- 4.7%
- Cash
- 1.4%
- Other
- 1.0%
How it has done
SHSSX share class · total returns with dividends reinvested
Volatility over the last 12 months: 13.95%. Past returns are a record, not a forecast.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.84% | +17.15% | +25.35% | +23.65% | -13.37% | |
| 1.15% | +16.74% | +24.14% | +21.79% | -13.54% | |
| 1.09% | +16.86% | +24.44% | +22.18% | -13.53% | |
| 1.85% | +15.92% | +21.52% | +17.55% | -14.01% | |
| 1.44% | +16.43% | +23.05% | +19.95% | -13.75% | |
| 0.75% | +17.24% | +25.70% | +24.30% | -13.30% |
These classes hold the same portfolio, so the 6.74pp spread over 5 years is the cost difference between them — roughly 1.35pp a year — not a difference in what they own.
Fees & fund details
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
- Expense ratio, by class
- 0.75% – 1.85%· SHSSX 0.84%
- Portfolio turnover
- 43.00% a year · as of 2025 Q3
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
16 new· the largest 8
26 exited· the largest 8
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