# EDGAR Filing Document

**Accession Number:** 0000202741
**File Stem:** 0001752724-23-067738
**Filing Date:** 2023-3
**Character Count:** 51193
**Document Hash:** 20dca2c8e8b04ad49d6c7888e8fb451b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-067738.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-067738

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK FUNDS VII, INC.
- **CENTRAL INDEX KEY:** 0000202741
- **IRS NUMBER:** 132866632
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02661
- **FILM NUMBER:** 23763892

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK ASIAN DRAGON FUND, INC.
- **DATE OF NAME CHANGE:** 20171031

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK PACIFIC FUND, INC.
- **DATE OF NAME CHANGE:** 20061002

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH PACIFIC FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### BlackRock Sustainable U.S. Value Equity Fund (Series ID: S000073893)

| Class ID   | Class Name                                                          | Ticker Symbol   |
|:---|:---|:---|
| C000231156 | BlackRock Sustainable U.S. Value Equity Fund - Class K Shares       |  |
| C000231157 | BlackRock Sustainable U.S. Value Equity Fund - Institutional Shares |  |
| C000231158 | BlackRock Sustainable U.S. Value Equity Fund - Investor A Shares    |  |

## Nport-Ex

Schedule of Investments (unaudited)

January 31, 2023

#### BlackRock Sustainable U.S. Value Equity Fund

#### (Percentages shown are based on Net Assets)

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 1.1%** | **Aerospace & Defense — 1.1%** | **Aerospace & Defense — 1.1%** |
| L3Harris Technologies, Inc.<br>| &nbsp;&nbsp; 267 | &nbsp;&nbsp;&nbsp;&nbsp;$57357 |
| **Auto Components — 0.9%** | **Auto Components — 0.9%** | **Auto Components — 0.9%** |
| Lear Corp.<br>| &nbsp;&nbsp; 318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46358 |
| **Automobiles — 2.1%** | **Automobiles — 2.1%** | **Automobiles — 2.1%** |
| General Motors Co.<br>| &nbsp;&nbsp; 2687 | &nbsp;&nbsp;&nbsp;&nbsp; 105653 |
| **Banks — 10.2%** | **Banks — 10.2%** | **Banks — 10.2%** |
| Citigroup, Inc.<br>| &nbsp;&nbsp; 2546 | &nbsp;&nbsp;&nbsp;&nbsp; 132952 |
| Citizens Financial Group, Inc.<br>| &nbsp;&nbsp; 2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90106 |
| Comerica, Inc.<br>| &nbsp;&nbsp; 938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68765 |
| JPMorgan Chase & Co.<br>| &nbsp;&nbsp; 639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89434 |
| Wells Fargo & Co.<br>| &nbsp;&nbsp; 2876 | &nbsp;&nbsp;&nbsp;&nbsp; 134798 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516055 |
| **Capital Markets — 3.4%** | **Capital Markets — 3.4%** | **Capital Markets — 3.4%** |
| Charles Schwab Corp.<br>| &nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46452 |
| Goldman Sachs Group, Inc.<br>| &nbsp;&nbsp; 70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25607 |
| Invesco Ltd.<br>| &nbsp;&nbsp; 1697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31411 |
| Morgan Stanley<br>| &nbsp;&nbsp; 690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67158 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170628 |
| **Chemicals — 1.9%** | **Chemicals — 1.9%** | **Chemicals — 1.9%** |
| PPG Industries, Inc.<br>| &nbsp;&nbsp; 729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95018 |
| **Communications Equipment — 3.1%** | **Communications Equipment — 3.1%** | **Communications Equipment — 3.1%** |
| Ciena Corp.<sup>(a)</sup><br>| &nbsp;&nbsp; 549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28559 |
| Cisco Systems, Inc.<br>| &nbsp;&nbsp;&nbsp;2608 | &nbsp;&nbsp;&nbsp;&nbsp; 126931 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155490 |
| **Containers & Packaging — 1.5%** | **Containers & Packaging — 1.5%** | **Containers & Packaging — 1.5%** |
| Sealed Air Corp.<br>| &nbsp;&nbsp;&nbsp;1367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74857 |
| **Diversified Telecommunication Services — 2.6%** | **Diversified Telecommunication Services — 2.6%** | **Diversified Telecommunication Services — 2.6%** |
| Verizon Communications, Inc.<br>| &nbsp;&nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp; 129075 |
| **Electric Utilities — 1.7%** | **Electric Utilities — 1.7%** | **Electric Utilities — 1.7%** |
| Exelon Corp.<br>| &nbsp;&nbsp;&nbsp;2006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84633 |
| **Electronic Equipment, Instruments & Components — 1.6%** | **Electronic Equipment, Instruments & Components — 1.6%** | **Electronic Equipment, Instruments & Components — 1.6%** |
| Zebra Technologies Corp., Class A<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82839 |
| **Food Products — 3.6%** | **Food Products — 3.6%** | **Food Products — 3.6%** |
| Kraft Heinz Co.<br>| &nbsp;&nbsp;&nbsp;2214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89734 |
| Mondelez International, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92270 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182004 |
| **Health Care Equipment & Supplies — 2.2%** | **Health Care Equipment & Supplies — 2.2%** | **Health Care Equipment & Supplies — 2.2%** |
| Baxter International, Inc.<br>| &nbsp;&nbsp;&nbsp;2371 | &nbsp;&nbsp;&nbsp;&nbsp; 108331 |
| **Health Care Providers & Services — 9.4%** | **Health Care Providers & Services — 9.4%** | **Health Care Providers & Services — 9.4%** |
| Cardinal Health, Inc.<br>| &nbsp;&nbsp;&nbsp;1270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98107 |
| Cigna Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp; 125718 |
| Elevance Health, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98998 |
| Laboratory Corp. of America Holdings<br>| &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp; 148751 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471574 |
| **Household Durables — 2.9%** | **Household Durables — 2.9%** | **Household Durables — 2.9%** |
| Newell Brands, Inc.<br>| &nbsp;&nbsp;&nbsp;3046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48614 |
| Panasonic Holdings Corp.<br>| &nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95516 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144130 |
| **Household Products — 1.3%** | **Household Products — 1.3%** | **Household Products — 1.3%** |
| Reckitt Benckiser Group PLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64491 |
| **Insurance — 9.2%** | **Insurance — 9.2%** | **Insurance — 9.2%** |
| American International Group, Inc.<br>| &nbsp;&nbsp;&nbsp;2088 | &nbsp;&nbsp;&nbsp;&nbsp; 132003 |
| Fidelity National Financial, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40420 |
| First American Financial Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47392 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Prudential PLC<br>| &nbsp;&nbsp; 5496 | &nbsp;&nbsp;&nbsp;&nbsp;$91317 |
| Willis Towers Watson PLC<br>| &nbsp;&nbsp; 594 | &nbsp;&nbsp;&nbsp;&nbsp; 150989 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462121 |
| **IT Services — 5.7%** | **IT Services — 5.7%** | **IT Services — 5.7%** |
| Cognizant Technology Solutions Corp., Class A<br>| &nbsp;&nbsp; 2060 | &nbsp;&nbsp;&nbsp;&nbsp; 137505 |
| Fidelity National Information Services, Inc.<br>| &nbsp;&nbsp; 1432 | &nbsp;&nbsp;&nbsp;&nbsp; 107457 |
| Visa, Inc., Class A<br>| &nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43970 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288932 |
| **Life Sciences Tools & Services — 1.4%** | **Life Sciences Tools & Services — 1.4%** | **Life Sciences Tools & Services — 1.4%** |
| Avantor, Inc.<sup>(a)</sup><br>| &nbsp;&nbsp; 2890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69071 |
| **Machinery — 2.4%** | **Machinery — 2.4%** | **Machinery — 2.4%** |
| Komatsu Ltd.<br>| &nbsp;&nbsp; 3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95841 |
| Pentair PLC<br>| &nbsp;&nbsp; 490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122977 |
| **Media — 1.6%** | **Media — 1.6%** | **Media — 1.6%** |
| Comcast Corp., Class A<br>| &nbsp;&nbsp; 2010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79094 |
| **Metals & Mining — 0.9%** | **Metals & Mining — 0.9%** | **Metals & Mining — 0.9%** |
| Newmont Corp.<br>| &nbsp;&nbsp; 894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47319 |
| **Multiline Retail — 1.9%** | **Multiline Retail — 1.9%** | **Multiline Retail — 1.9%** |
| Dollar Tree, Inc.<sup>(a)</sup><br>| &nbsp;&nbsp; 646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97016 |
| **Multi-Utilities — 1.8%** | **Multi-Utilities — 1.8%** | **Multi-Utilities — 1.8%** |
| Public Service Enterprise Group, Inc.<br>| &nbsp;&nbsp; 1491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92338 |
| **Oil, Gas & Consumable Fuels — 8.0%** | **Oil, Gas & Consumable Fuels — 8.0%** | **Oil, Gas & Consumable Fuels — 8.0%** |
| Cheniere Energy, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78992 |
| EQT Corp.<br>| &nbsp;&nbsp;&nbsp;1593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52043 |
| Hess Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40994 |
| Shell PLC<br>| &nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp; 126239 |
| Woodside Energy Group Ltd.<br>| &nbsp;&nbsp;&nbsp;4021 | &nbsp;&nbsp;&nbsp;&nbsp; 104119 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402387 |
| **Pharmaceuticals — 6.1%** | **Pharmaceuticals — 6.1%** | **Pharmaceuticals — 6.1%** |
| AstraZeneca PLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp; 107954 |
| Eli Lilly & Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24090 |
| Novo Nordisk A/S, ADR<br>| &nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50516 |
| Sanofi<br>| &nbsp;&nbsp;&nbsp;1290 | &nbsp;&nbsp;&nbsp;&nbsp; 126323 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308883 |
| **Professional Services — 1.0%** | **Professional Services — 1.0%** | **Professional Services — 1.0%** |
| Robert Half International, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48361 |
| **Real Estate Management & Development — 1.5%** | **Real Estate Management & Development — 1.5%** | **Real Estate Management & Development — 1.5%** |
| CBRE Group, Inc., Class A<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73111 |
| **Road & Rail — 1.7%** | **Road & Rail — 1.7%** | **Road & Rail — 1.7%** |
| Norfolk Southern Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87754 |
| **Software — 2.1%** | **Software — 2.1%** | **Software — 2.1%** |
| Microsoft Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp; 104576 |
| **Technology Hardware, Storage & Peripherals — 1.9%** | **Technology Hardware, Storage & Peripherals — 1.9%** | **Technology Hardware, Storage & Peripherals — 1.9%** |
| Western Digital Corp.<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;2134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93789 |
| **Textiles, Apparel & Luxury Goods — 1.9%** | **Textiles, Apparel & Luxury Goods — 1.9%** | **Textiles, Apparel & Luxury Goods — 1.9%** |
| Gildan Activewear, Inc.<br>| &nbsp;&nbsp;&nbsp;1991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62378 |
| Ralph Lauren Corp., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35421 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97799 |
| **Total Long-Term Investments — 98.6%<br>(Cost: $5,005,530)<br>** | **Total Long-Term Investments — 98.6%<br>(Cost: $5,005,530)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;4964021 |

---

------

Schedule of Investments (unaudited) (continued)

January 31, 2023

#### BlackRock Sustainable U.S. Value Equity Fund

#### (Percentages shown are based on Net Assets)

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.1%** | **Money Market Funds — 1.1%** | **Money Market Funds — 1.1%** |
| BlackRock Liquidity Funds, T-Fund, Institutional Class, 4.07%<sup>(b)(c)</sup><br>| &nbsp;&nbsp;55901 | &nbsp;&nbsp;&nbsp;&nbsp;$55901 |
| **Total Short-Term Securities — 1.1%<br>(Cost: $55,901)<br>** | **Total Short-Term Securities — 1.1%<br>(Cost: $55,901)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55901 |
| **Total Investments — 99.7%<br>(Cost: $5,061,431)<br>** | **Total Investments — 99.7%<br>(Cost: $5,061,431)<br>** | &nbsp;&nbsp;&nbsp;&nbsp;5019922 |
| **Other Assets Less Liabilities — 0.3%<br>** | **Other Assets Less Liabilities — 0.3%<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14733 |
| **Net Assets — 100.0%<br>** | **Net Assets — 100.0%<br>** | $5034655 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Affiliate of the Fund. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

#### Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | &nbsp;&nbsp;*Value at<br> 04/30/22* | &nbsp;&nbsp;&nbsp;&nbsp;*Purchases<br> at Cost* | &nbsp;&nbsp;&nbsp;&nbsp;*Proceeds<br> from Sale* | &nbsp;&nbsp;&nbsp;&nbsp;*Net<br> Realized<br> Gain (Loss)* | &nbsp;&nbsp;&nbsp;&nbsp;*Change in<br> Unrealized<br> Appreciation<br> (Depreciation)* | &nbsp;&nbsp;&nbsp;&nbsp;*Value at<br> 01/31/23* | &nbsp;&nbsp;&nbsp;&nbsp;*Shares<br> Held at<br> 01/31/23* | &nbsp;&nbsp;&nbsp;&nbsp;*Income* | &nbsp;&nbsp;&nbsp;&nbsp;*Capital<br> Gain<br> Distributions<br> from Underlying<br> Funds* |
| BlackRock Liquidity Funds, T-Fund, Institutional Class<br>| &nbsp;&nbsp;$101438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$(45537)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$55901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55901 | &nbsp;&nbsp;&nbsp;&nbsp;$991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| SL Liquidity Series, LLC, Money Market Series<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$55901 |  | &nbsp;&nbsp;&nbsp;&nbsp;$1006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |

---

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> As of period end, the entity is no longer held.

<sup>(c)</sup> Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

For Fund compliance purposes, the Fund's industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

#### Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

------

Schedule of Investments (unaudited) (continued)

January 31, 2023

BlackRock Sustainable U.S. Value Equity Fund

#### Fair Value Hierarchy as of Period End (continued)
**The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.**

**The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;*Level 1* | &nbsp;&nbsp;*Level 2* | &nbsp;&nbsp;*Level 3* | &nbsp;&nbsp;*Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aerospace & Defense<br>| &nbsp;&nbsp;&nbsp;&nbsp;$57357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$57357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Auto Components<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Automobiles<br>| &nbsp;&nbsp;&nbsp;&nbsp; 105653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 105653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banks<br>| &nbsp;&nbsp;&nbsp;&nbsp; 516055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 516055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp; 170628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 170628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chemicals<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communications Equipment<br>| &nbsp;&nbsp;&nbsp;&nbsp; 155490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 155490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Containers & Packaging<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diversified Telecommunication Services<br>| &nbsp;&nbsp;&nbsp;&nbsp; 129075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 129075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electric Utilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electronic Equipment, Instruments & Components<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Food Products<br>| &nbsp;&nbsp;&nbsp;&nbsp; 182004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 182004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care Equipment & Supplies<br>| &nbsp;&nbsp;&nbsp;&nbsp; 108331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 108331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care Providers & Services<br>| &nbsp;&nbsp;&nbsp;&nbsp; 471574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 471574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Household Durables<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48614 | &nbsp;&nbsp;&nbsp;&nbsp; 95516 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 144130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Household Products<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 64491 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance<br>| &nbsp;&nbsp;&nbsp;&nbsp; 370804 | &nbsp;&nbsp;&nbsp;&nbsp; 91317 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 462121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IT Services<br>| &nbsp;&nbsp;&nbsp;&nbsp; 288932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 288932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Life Sciences Tools & Services<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Machinery<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27136 | &nbsp;&nbsp;&nbsp;&nbsp; 95841 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 122977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Media<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metals & Mining<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Multiline Retail<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Multi-Utilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oil, Gas & Consumable Fuels<br>| &nbsp;&nbsp;&nbsp;&nbsp; 172029 | &nbsp;&nbsp; 230358 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 402387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pharmaceuticals<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74606 | &nbsp;&nbsp; 234277 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 308883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional Services<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real Estate Management & Development<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Road & Rail<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Software<br>| &nbsp;&nbsp;&nbsp;&nbsp; 104576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 104576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology Hardware, Storage & Peripherals<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Textiles, Apparel & Luxury Goods<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55901 |
|  | &nbsp;&nbsp;$4208122 | &nbsp;&nbsp;$811800 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$5019922 |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | &nbsp;&nbsp;American Depositary Receipt |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BlackRock Funds VII, Inc.

- **b. Investment Company Act file number:** 811-02661

- **c. CIK number of Registrant:** 0000202741

- **d. LEI of Registrant:** VDY1KP9LG622J7GO4A23

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 BELLEVUE PARKWAY

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

**Item A.2. Information about the Series.**

- **a. Name of Series:** BlackRock Sustainable U.S. Value Equity Fund

- **b. EDGAR series identifier (if any):** S000073893

- **c. LEI of Series:** 549300KZ6WY6M80C0L24

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $5126617.87

**Total Liabilities:** $91974.77

**Net Assets:** $5034643.10

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231156 | 6.95%                | -4.02%               | 6.75%                |
| Class ID C000231158 | 6.96%                | -4.09%               | 6.76%                |
| Class ID C000231157 | 6.84%                | -4.06%               | 6.87%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11009.09                | $299873.83                                 |
| Month 2  | $-4489.88                | $-204130.05                                |
| Month 3  | $-3470.41                | $319096.30                                 |

### Schedule of Portfolio Investments

| Name                             | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ralph Lauren Corp                | Ralph Lauren Corp                          | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |       286 | NS      | $35421.10     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp            | Norfolk Southern Corp                      | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |       357 | NS      | $87754.17     | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The               | Kraft Heinz Co/The                         | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |      2214 | NS      | $89733.42     | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co                | General Motors Co                          | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      2687 | NS      | $105652.84    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Grou   | Public Service Enterprise Group Inc        | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |      1491 | NS      | $92337.63     | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands Inc                | Newell Brands Inc                          | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |      3046 | NS      | $48614.16     | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                         | Visa Inc                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       191 | NS      | $43970.11     | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc               | PPG Industries Inc                         | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |       729 | NS      | $95017.86     | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Robert Half International Inc    | Robert Half International Inc              | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |       576 | NS      | $48360.96     | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                  | AstraZeneca PLC                            | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |       824 | NS      | $107954.34    | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group Inc/The      | Goldman Sachs Group Inc/The                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |        70 | NS      | $25606.70     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp             | Western Digital Corp                       | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      2134 | NS      | $93789.30     | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Laboratory Corp of America Hol   | Laboratory Corp of America Holdings        | CUSIP: 50540R409<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | EC               | CORP              | US        |       590 | NS      | $148750.80    | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                 | Novo Nordisk A/S                           | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |       364 | NS      | $50515.92     | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc       | Verizon Communications Inc                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      3105 | NS      | $129074.85    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Corp                        | Hess Corp                                  | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |       273 | NS      | $40993.68     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                     | Newmont Corp                               | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |       894 | NS      | $47319.42     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc         | Baxter International Inc                   | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |      2371 | NS      | $108330.99    | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                   | Microsoft Corp                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |       422 | NS      | $104575.82    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                      | Avantor Inc                                | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2890 | NS      | $69071.00     | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                        | Lear Corp                                  | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |       318 | NS      | $46358.04     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The          | Charles Schwab Corp/The                    | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |       600 | NS      | $46452.00     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc              | Elevance Health Inc                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |       198 | NS      | $98998.02     | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson PLC         | Willis Towers Watson PLC                   | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | GB        |       594 | NS      | $150988.86    | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group PLC      | Reckitt Benckiser Group PLC                | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |       905 | NS      | $64491.15     | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corp                         | EQT Corp                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      1593 | NS      | $52043.31     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi                           | Sanofi                                     | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |      1290 | NS      | $126322.57    | 2.51%             |  |  |  | No            |                  2 | On Loan: No      |
| First American Financial Corp    | First American Financial Corp              | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |       766 | NS      | $47392.42     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc        | L3Harris Technologies Inc                  | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |       267 | NS      | $57356.94     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                      | Exelon Corp                                | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      2006 | NS      | $84633.14     | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                    | Citigroup Inc                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      2546 | NS      | $132952.12    | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                   | CBRE Group Inc                             | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |       855 | NS      | $73111.05     | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial In   | Fidelity National Financial Inc            | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |       918 | NS      | $40419.54     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential PLC                   | Prudential PLC                             | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |      5496 | NS      | $91316.43     | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Cigna Corp                       | Cigna Corp                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |       397 | NS      | $125717.99    | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc              | Cardinal Health Inc                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      1270 | NS      | $98107.50     | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                  | Dollar Tree Inc                            | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |       646 | NS      | $97016.28     | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                        | Shell PLC                                  | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      4300 | NS      | $126238.50    | 2.51%             |  |  |  | No            |                  2 | On Loan: No      |
| American International Group I   | American International Group Inc           | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      2088 | NS      | $132003.36    | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc              | Cheniere Energy Inc                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       517 | NS      | $78992.43     | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds T-Fund | BlackRock Liquidity Funds T-Fund           | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        |     60237 | NS      | $60237.49     | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Panasonic Holdings Corp          | Panasonic Holdings Corp                    | CUSIP: 000000000<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |     10300 | NS      | $95515.72     | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Comerica Inc                     | Comerica Inc                               | CUSIP: 200340107<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EC               | CORP              | US        |       938 | NS      | $68764.78     | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corp          | Zebra Technologies Corp                    | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |       262 | NS      | $82839.16     | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions   | Cognizant Technology Solutions Corp        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      2060 | NS      | $137505.00    | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                   | Eli Lilly & Co                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |        70 | NS      | $24090.50     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                | Cisco Systems Inc                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      2608 | NS      | $126931.36    | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Pentair PLC                      | Pentair PLC                                | CUSIP: 000000000<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | GB        |       490 | NS      | $27136.20     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co              | JPMorgan Chase & Co                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |       639 | NS      | $89434.44     | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Gildan Activewear Inc            | Gildan Activewear Inc                      | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |      1991 | NS      | $62378.03     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                   | Morgan Stanley                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |       690 | NS      | $67157.70     | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Sealed Air Corp                  | Sealed Air Corp                            | CUSIP: 81211K100<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | EC               | CORP              | US        |      1367 | NS      | $74856.92     | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc       | Mondelez International Inc                 | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      1410 | NS      | $92270.40     | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                     | Comcast Corp                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      2010 | NS      | $79093.50     | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc     | Citizens Financial Group Inc               | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      2080 | NS      | $90105.60     | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information    | Fidelity National Information Services Inc | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      1432 | NS      | $107457.28    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ltd                      | Invesco Ltd                                | CUSIP: 000000000<br>LEI: ECPGFXU8A2SHKVVGJI15 | Long             | EC               | CORP              | US        |      1697 | NS      | $31411.47     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Komatsu Ltd                      | Komatsu Ltd                                | CUSIP: 000000000<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |      3900 | NS      | $95840.39     | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Ciena Corp                       | Ciena Corp                                 | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |       549 | NS      | $28558.98     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                 | Wells Fargo & Co                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      2876 | NS      | $134798.12    | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodside Energy Group Ltd        | Woodside Energy Group Ltd                  | CUSIP: 000000000<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |      4021 | NS      | $104119.32    | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-27

**Name of Applicant:** BLACKROCK FUNDS VII, INC.

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer