Summary

• BlackRock Advantage Small Cap Growth Fund posted returns of -2.07% (Institutional shares) and -2.13% (Investor A shares, without sales charge) for the first quarter of 2026.
• The fund's outperformance of its benchmark came despite a challenging backdrop for small-cap growth stocks.
• During the quarter, the fund remained largely sector neutral.

Inst: PSGIX A: CSGEX C: CGICX K: PSGKX

• The fund posted returns of -2.07% (Institutional shares)(PSGIX) and -2.13% (Investor A shares, without sales charge)(CSGEX) for the first quarter of 2026.
• The fund's outperformance of its