# EDGAR Filing Document

**Accession Number:** 0000202741
**File Stem:** 0001410368-25-010112
**Filing Date:** 2025-9
**Character Count:** 51782
**Document Hash:** c9b798df12833f8c71130efcc9a82e62
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-010112.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001410368-25-010112

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK FUNDS VII, INC.
- **CENTRAL INDEX KEY:** 0000202741

**ORGANIZATION NAME:**
- **EIN:** 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:** 251338570

**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 Emerging Markets Equity Fund (Series ID: S000002248)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000005805 | Investor A    |  |
| C000005808 | Institutional |  |
| C000005809 | Class R       |  |
| C000198217 | Class K       |  |

## Nport-Ex

July 31, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **BlackRock Funds VII, Inc.** |
| • BlackRock Sustainable Emerging Markets Equity Fund |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

July 31, 2025

**BlackRock Sustainable Emerging Markets Equity Fund** 

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Brazil — 4.4%** | **Brazil — 4.4%** |  |
| Banco Bradesco SA, ADR, Preference Shares | 31850 | &nbsp;&nbsp; $88224 |
| Lojas Renner SA | 489920 | &nbsp;&nbsp; 1423507 |
| XP, Inc., Class A | 113348 | &nbsp;&nbsp; 1829437 |
|  |  | &nbsp;&nbsp; 3341168 |
| **Canada — 2.8%** | **Canada — 2.8%** |  |
| Kinross Gold Corp. | 56235 | &nbsp;&nbsp; 899760 |
| Silvercorp Metals, Inc. | 274677 | &nbsp;&nbsp; 1200339 |
|  |  | &nbsp;&nbsp; 2100099 |
| **China — 23.2%** | **China — 23.2%** |  |
| Alibaba Group Holding Ltd. | 117300 | &nbsp;&nbsp; 1763578 |
| Alibaba Group Holding Ltd., ADR | 5948 | &nbsp;&nbsp; 717508 |
| BYD Co. Ltd., Class A | 13900 | &nbsp;&nbsp; 201627 |
| China Life Insurance Co. Ltd., Class H | 353000 | &nbsp;&nbsp; 1019679 |
| China Merchants Bank Co. Ltd., Class A | 70700 | &nbsp;&nbsp; 435558 |
| China Merchants Bank Co. Ltd., Class H | 74500 | &nbsp;&nbsp; 483441 |
| Contemporary Amperex Technology Co. Ltd., Class A | 49600 | &nbsp;&nbsp; 1811411 |
| Eastroc Beverage Group Co. Ltd., Class A | 18000 | &nbsp;&nbsp; 701830 |
| Hongfa Technology Co. Ltd., Class A | 245400 | &nbsp;&nbsp; 833261 |
| KE Holdings, Inc., ADR | 62356 | &nbsp;&nbsp; 1148597 |
| Midea Group Co. Ltd., Class A | 94244 | &nbsp;&nbsp; 915301 |
| Sany Heavy Industry Co. Ltd., Class A | 641000 | &nbsp;&nbsp; 1769932 |
| Tencent Holdings Ltd. | 84000 | &nbsp;&nbsp; 5881025 |
|  |  | &nbsp;&nbsp; 17682748 |
| **Hong Kong — 1.6%** | **Hong Kong — 1.6%** |  |
| Futu Holdings Ltd., ADR | 8078 | &nbsp;&nbsp; 1241427 |
| **Hungary — 2.0%** | **Hungary — 2.0%** |  |
| OTP Bank Nyrt | 19140 | &nbsp;&nbsp; 1553132 |
| **India — 14.1%** | **India — 14.1%** |  |
| Aavas Financiers Ltd.<sup>(a)</sup> | 51350 | &nbsp;&nbsp; 1007214 |
| Aditya Birla Capital Ltd.<sup>(a)</sup> | 304382 | &nbsp;&nbsp; 886846 |
| Apollo Hospitals Enterprise Ltd. | 9266 | &nbsp;&nbsp; 789980 |
| Axis Bank Ltd. | 46565 | &nbsp;&nbsp; 565489 |
| Bharti Airtel Ltd. | 45512 | &nbsp;&nbsp; 990757 |
| Cipla Ltd./India | 37578 | &nbsp;&nbsp; 663635 |
| HDB Financial Services Ltd.<sup>(a)</sup> | 45897 | &nbsp;&nbsp; 397439 |
| HDFC Bank Ltd. | 65695 | &nbsp;&nbsp; 1507589 |
| ICICI Bank Ltd. | 88155 | &nbsp;&nbsp; 1484468 |
| ICICI Bank Ltd., ADR | 3770 | &nbsp;&nbsp; 127049 |
| Lodha Developers Ltd.<sup>(b)</sup> | 62902 | &nbsp;&nbsp; 879514 |
| Mahindra & Mahindra Ltd. | 9375 | &nbsp;&nbsp; 341518 |
| Varun Beverages Ltd. | 136188 | &nbsp;&nbsp; 809409 |
| Vishal Mega Mart Ltd.<sup>(a)</sup> | 163616 | &nbsp;&nbsp; 259654 |
|  |  | &nbsp;&nbsp; 10710561 |
| **Indonesia — 2.1%** | **Indonesia — 2.1%** |  |
| Bank Central Asia Tbk PT | 1524600 | &nbsp;&nbsp; 764123 |
| Bank Rakyat Indonesia Persero Tbk PT | 3700200 | &nbsp;&nbsp; 828587 |
|  |  | &nbsp;&nbsp; 1592710 |
| **Kazakhstan — 1.0%** | **Kazakhstan — 1.0%** |  |
| Kaspi.KZ JSC, ADR | 9172 | &nbsp;&nbsp; 723671 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Mexico — 3.2%** | **Mexico — 3.2%** |  |
| BBB Foods, Inc., Class A<sup>(a)</sup> | 9306 | &nbsp;&nbsp; $237489 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Centro Norte SAB de C.V., <br> Class B<br>| 37616 | &nbsp;&nbsp; 498948 |
| Grupo Financiero Banorte SAB de C.V., Class O | 97807 | &nbsp;&nbsp; 871631 |
| Wal-Mart de Mexico SAB de C.V. | 291757 | &nbsp;&nbsp; 860037 |
|  |  | &nbsp;&nbsp; 2468105 |
| **Poland — 2.6%** | **Poland — 2.6%** |  |
| Bank Polska Kasa Opieki SA | 14258 | &nbsp;&nbsp; 774257 |
| Powszechny Zaklad Ubezpieczen SA | 70315 | &nbsp;&nbsp; 1178548 |
|  |  | &nbsp;&nbsp; 1952805 |
| **Portugal — 0.8%** | **Portugal — 0.8%** |  |
| Jeronimo Martins SGPS SA | 24942 | &nbsp;&nbsp; 608028 |
| **South Africa — 3.3%** | **South Africa — 3.3%** |  |
| Gold Fields Ltd. | 4950 | &nbsp;&nbsp; 120715 |
| Gold Fields Ltd., ADR | 46682 | &nbsp;&nbsp; 1137173 |
| Pepkor Holdings Ltd.<sup>(b)</sup> | 829727 | &nbsp;&nbsp; 1246048 |
|  |  | &nbsp;&nbsp; 2503936 |
| **South Korea — 9.9%** | **South Korea — 9.9%** |  |
| HD Hyundai Electric Co. Ltd. | 1370 | &nbsp;&nbsp; 487531 |
| Kia Corp. | 10788 | &nbsp;&nbsp; 789366 |
| NAVER Corp. | 3395 | &nbsp;&nbsp; 571362 |
| Samsung Biologics Co. Ltd.<sup>(a)(b)</sup> | 1431 | &nbsp;&nbsp; 1093323 |
| Samsung Electronics Co. Ltd. | 11368 | &nbsp;&nbsp; 579358 |
| Samsung Electronics Co. Ltd., GDR, Registered Shares | 1117 | &nbsp;&nbsp; 1397780 |
| SK Hynix, Inc. | 9028 | &nbsp;&nbsp; 1749769 |
| SK Square Co. Ltd.<sup>(a)</sup> | 8208 | &nbsp;&nbsp; 884087 |
|  |  | &nbsp;&nbsp; 7552576 |
| **Taiwan — 19.9%** | **Taiwan — 19.9%** |  |
| Accton Technology Corp. | 77000 | &nbsp;&nbsp; 2274132 |
| Alchip Technologies Ltd. | 16000 | &nbsp;&nbsp; 2045392 |
| MediaTek, Inc. | 34000 | &nbsp;&nbsp; 1539675 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 188000 | &nbsp;&nbsp; 7237860 |
| Wiwynn Corp. | 23000 | &nbsp;&nbsp; 2099130 |
|  |  | &nbsp;&nbsp; 15196189 |
| **Thailand — 0.0%** | **Thailand — 0.0%** |  |
| Krungthai Card PCL, NVDR | 27100 | &nbsp;&nbsp; 23583 |
| **United Arab Emirates — 0.9%** | **United Arab Emirates — 0.9%** |  |
| Aldar Properties PJSC | 259388 | &nbsp;&nbsp; 670294 |
| **United States — 0.8%** | **United States — 0.8%** |  |
| Cognizant Technology Solutions Corp., Class A | 9000 | &nbsp;&nbsp; 645840 |
| **Total Common Stocks — 92.6%** <br>**(Cost: $57,061,909)** | **Total Common Stocks — 92.6%** <br>**(Cost: $57,061,909)** | &nbsp;&nbsp; 70566872 |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**BlackRock Sustainable Emerging Markets Equity Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Preferred Stocks — 1.0%** | **Preferred Stocks — 1.0%** | **Preferred Stocks — 1.0%** |
| **Brazil — 1.0%** | **Brazil — 1.0%** |  |
| Banco Bradesco SA | 281449 | &nbsp;&nbsp; $780581 |
| **Total Preferred Securities — 1.0%** <br>**(Cost: $762,132)** | **Total Preferred Securities — 1.0%** <br>**(Cost: $762,132)** | &nbsp;&nbsp; 780581 |
| **Total Long-Term Investments — 93.6%** <br>**(Cost: $57,824,041)** | **Total Long-Term Investments — 93.6%** <br>**(Cost: $57,824,041)** | &nbsp;&nbsp; 71347453 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 3.8%** | **Money Market Funds — 3.8%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional Shares, <br> 4.20%<sup>(c)(d)</sup><br>| 2884330 | &nbsp;&nbsp; 2884330 |
| **Total Short-Term Securities — 3.8%** <br>**(Cost: $2,884,330)** | **Total Short-Term Securities — 3.8%** <br>**(Cost: $2,884,330)** | &nbsp;&nbsp; 2884330 |
| **Total Investments — 97.4%** <br>**(Cost: $60,708,371)** | **Total Investments — 97.4%** <br>**(Cost: $60,708,371)** | &nbsp;&nbsp; 74231783 |
| **Other Assets Less Liabilities — 2.6%** | **Other Assets Less Liabilities — 2.6%** | &nbsp;&nbsp; 1989688 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $76221471 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</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 July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*04/30/25*<br>| *Purchases* <br>*at Cost*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/25*<br>| *Shares* <br>*Held at* <br>*07/31/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency Shares<sup>(a)</sup> | &nbsp;&nbsp; $1180328 | $—<br> $(1180328 )<sup>(b)</sup><br>| &nbsp;&nbsp; $(21)<br>| $21 | $— |  | $201 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Liquidity Funds, T-Fund, Institutional Shares | &nbsp;&nbsp; 4046520 | —<br> (1162190 )<sup>(b)</sup><br>| &nbsp;&nbsp; — |  | 2884330 | 2884330 | 35971 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $(21)<br>| $21 | $2884330 |  | $36172 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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

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

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; MSCI Emerging Markets Index | &nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; $1548 | &nbsp;&nbsp;&nbsp;&nbsp; $(5761)<br>|

---

**Equity Swap contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Entity* | *Counterparty* | *Notional Amount* | &nbsp;&nbsp; *Termination* <br>*Date*<br>| *Spread* | *Reference Rate* | &nbsp;&nbsp; *Payment* <br>*Frequency*<br>| *Value/ Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> |
| Axis Bank Ltd., ADR | HSBC Bank PLC | $410059 | 02/10/28 | 0.40% | 1D OBFR01 | Monthly  | &nbsp;&nbsp; $(42662)<br>|
| FPT Corp. | JPMorgan Chase Bank N.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 573783 | 02/10/26 | 0.95% | 1D OBFR01 | Monthly  | &nbsp;&nbsp; (22339)<br>|
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing <br> Ltd.<br>| HSBC Bank PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138249 | 02/10/28 | 0.55% | 1D OBFR01 | Monthly  | &nbsp;&nbsp; 2460 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**BlackRock Sustainable Emerging Markets Equity Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Entity* | *Counterparty* | *Notional Amount* | &nbsp;&nbsp; *Termination*<br> *Date*<br>| *Spread* | *Reference Rate* | &nbsp;&nbsp; *Payment*<br> *Frequency*<br>| *Value/ Unrealized*<br> *Appreciation*<br> *(Depreciation)*<br>|
| Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) |
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing <br> Ltd.<br>| JPMorgan Chase Bank N.A. | $834805 | 02/10/26 | 0.55% | 1D OBFR01 | Monthly  | &nbsp;&nbsp; $14860 |
| Total long positions of equity swaps | Total long positions of equity swaps | Total long positions of equity swaps |  |  |  |  | &nbsp;&nbsp; (47681)<br>|
| Net dividends and financing fees | Net dividends and financing fees | Net dividends and financing fees |  |  |  |  | &nbsp;&nbsp; (13060)<br>|
| Total equity swap contracts including dividends and financing fees | Total equity swap contracts including dividends and financing fees | Total equity swap contracts including dividends and financing fees |  |  |  |  | &nbsp;&nbsp; $(60741)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund receives the total return on a reference entity and pays a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon the country and/or currency of the individual underlying position. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. 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;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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 that may not have a secondary market and/or may have 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.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *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; Brazil | &nbsp;&nbsp; $3341168 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3341168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canada | &nbsp;&nbsp; 2100099 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2100099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp; 1866105 | &nbsp;&nbsp;&nbsp;&nbsp; 15816643 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17682748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp; 1241427 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1241427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hungary | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1553132 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1553132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp; 524488 | &nbsp;&nbsp;&nbsp;&nbsp; 10186073 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10710561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesia | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1592710 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1592710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan | &nbsp;&nbsp; 723671 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 723671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp; 2468105 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2468105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poland | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1952805 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1952805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Portugal | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 608028 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 608028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp; 1137173 | &nbsp;&nbsp;&nbsp;&nbsp; 1366763 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2503936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7552576 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7552576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15196189 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15196189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thailand | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23583 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 23583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 670294 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 670294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp; 645840 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 645840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; 780581 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 780581 |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**BlackRock Sustainable Emerging Markets Equity Fund** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; $2884330 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $2884330 |
|  | &nbsp;&nbsp; $17712987 | &nbsp;&nbsp;&nbsp;&nbsp; $56518796 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $74231783 |
| Derivative Financial Instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $17320 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $17320 |
| &nbsp;&nbsp;&nbsp; Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; (5761)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (78061)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (83822)<br>|
|  | &nbsp;&nbsp; $(5761)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(60741)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(66502)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| 1D OBFR01 | USD - 1D Overnight Bank Funding Rate |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| JSC | Joint Stock Company  |
| MSCI | Morgan Stanley Capital International |
| NVDR | Non-Voting Depositary Receipt |
| PCL | Public Company Limited |
| PJSC | Public Joint Stock Company |

---

Schedule of Investments

------

## 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:** 5299009PQ1NAXVNC5C20

- **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 Emerging Markets Equity Fund

- **b. EDGAR series identifier (if any):** S000002248

- **c. LEI of Series:** VDY1KP9LG622J7GO4A23

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**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:** $76661218.09

**Total Liabilities:** $393481.81

**Net Assets:** $76267736.28

**Cash Not Reported:** $1794358.09

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005809 | 5.81%                | 7.14%                | -1.08%               |
| Class ID C000005805 | 5.81%                | 7.15%                | -0.99%               |
| Class ID C000198217 | 5.78%                | 7.17%                | -0.95%               |
| Class ID C000005808 | 5.78%                | 7.16%                | -0.97%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $47379.36                | $3634626.87                                |
| Month 2  | $1415492.12              | $3619348.51                                |
| Month 3  | $2924914.42              | $-3772642.33                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Gold Fields Ltd                                | Gold Fields Ltd                                         | CUSIP: 000000000<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      4950 | NS      | $120715.26    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd         | Contemporary Amperex Technology Co Ltd                  | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     49600 | NS      | $1811410.76   | 2.38%             |  |  |  | No            |                  2 | On Loan: No      |
| XP Inc                                         | XP Inc                                                  | CUSIP: 000000000<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               | CORP              | KY        |    113348 | NS      | $1829436.72   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Bank Ltd                                  | Axis Bank Ltd                                           | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |     47807 | NS      | $580571.84    | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Varun Beverages Ltd                            | Varun Beverages Ltd                                     | CUSIP: 000000000<br>LEI: 33580058NWEMWBDNMD48 | Long             | EC               | CORP              | IN        |    134750 | NS      | $800862.03    | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                         | HONG KONG EXCHANGES AND CLEARING L                      | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | HK        |     15700 | OU      | $849665.10    | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| China Merchants Bank Co Ltd                    | China Merchants Bank Co Ltd                             | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |     70700 | NS      | $435558.30    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Kia Corp                                       | Kia Corp                                                | CUSIP: 000000000<br>LEI: 988400V8MJK9N7OI5X76 | Long             | EC               | CORP              | KR        |     10788 | NS      | $789366.17    | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bradesco SA                              | Banco Bradesco SA                                       | CUSIP: 000000000<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EP               | CORP              | BR        |    281449 | NS      | $780581.11    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hindustan Unilever Ltd                         | Hindustan Unilever Ltd                                  | CUSIP: 000000000<br>LEI: 5493007IW5N37IKRPM32 | Long             | EC               | CORP              | IN        |       390 | NS      | $11200.64     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Polska Kasa Opieki SA                     | Bank Polska Kasa Opieki SA                              | CUSIP: 000000000<br>LEI: 5493000LKS7B3UTF7H35 | Long             | EC               | CORP              | PL        |     14258 | NS      | $774257.29    | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Midea Group Co Ltd                             | Midea Group Co Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     94244 | NS      | $915300.76    | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| BBB Foods Inc                                  | BBB Foods Inc                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |      9193 | NS      | $234605.36    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp            | Cognizant Technology Solutions Corp                     | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      9000 | NS      | $645840.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Jeronimo Martins SGPS SA                       | Jeronimo Martins SGPS SA                                | CUSIP: 000000000<br>LEI: 259400A8SZP10GB5IB19 | Long             | EC               | CORP              | PT        |     24942 | NS      | $608027.61    | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd                | Apollo Hospitals Enterprise Ltd                         | CUSIP: 000000000<br>LEI: 3358005YT7JQCWYLTG43 | Long             | EC               | CORP              | IN        |      9266 | NS      | $789980.13    | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                     | Samsung Electronics Co Ltd                              | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     11368 | NS      | $579358.05    | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                     | BYD Co Ltd                                              | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     13900 | NS      | $201626.87    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Lodha Developers Ltd                           | Lodha Developers Ltd                                    | CUSIP: 000000000<br>LEI: 254900B5QCN52ETNU557 | Long             | EC               | CORP              | IN        |     62902 | NS      | $879514.01    | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bradesco SA                              | Banco Bradesco SA                                       | CUSIP: 059460303<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EC               | CORP              | BR        |     31850 | NS      | $88224.50     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                      | Alibaba Group Holding Ltd                               | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |      5948 | NS      | $717507.24    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank Nyrt                                  | OTP Bank Nyrt                                           | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |     19140 | NS      | $1553131.99   | 2.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Futu Holdings Ltd                              | Futu Holdings Ltd                                       | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | KY        |      8078 | NS      | $1241427.04   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Aavas Financiers Ltd                           | Aavas Financiers Ltd                                    | CUSIP: 000000000<br>LEI: 335800TMNAGA7MPDP384 | Long             | EC               | CORP              | IN        |     51350 | NS      | $1007213.83   | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinross Gold Corp                              | Kinross Gold Corp                                       | CUSIP: 496902404<br>LEI: 549300UEBMAQDN0K0R06 | Long             | EC               | CORP              | CA        |     56235 | NS      | $899760.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek Inc                                   | MediaTek Inc                                            | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     34000 | NS      | $1539675.19   | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV                   | Wal-Mart de Mexico SAB de CV                            | CUSIP: 000000000<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | MX        |    291757 | NS      | $860037.46    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk PT           | Bank Rakyat Indonesia Persero Tbk PT                    | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |   3700200 | NS      | $828587.49    | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                                  | HDFC Bank Ltd                                           | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     65695 | NS      | $1507588.45   | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Alchip Technologies Ltd                        | Alchip Technologies Ltd                                 | CUSIP: 000000000<br>LEI: 529900HKE9RIY07SLX84 | Long             | EC               | CORP              | KY        |     16000 | NS      | $2045391.49   | 2.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Silvercorp Metals Inc                          | Silvercorp Metals Inc                                   | CUSIP: 82835P103<br>LEI: 52990092RT3UCQ7G3177 | Long             | EC               | CORP              | CA        |    274677 | NS      | $1200338.49   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                                | Gold Fields Ltd                                         | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     46682 | NS      | $1137173.52   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Centro Norte SAB de CV | Grupo Aeroportuario del Centro Norte SAB de CV          | CUSIP: 000000000<br>LEI: 529900HUSBARAFSXJ605 | Long             | EC               | CORP              | MX        |     37696 | NS      | $500009.02    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipla Ltd/India                                | Cipla Ltd/India                                         | CUSIP: 000000000<br>LEI: 335800KMJJYEDDK82Q34 | Long             | EC               | CORP              | IN        |     37578 | NS      | $663635.23    | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                       | Bank Central Asia Tbk PT                                | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   1524600 | NS      | $764122.59    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HDB Financial Services Ltd                     | HDB Financial Services Ltd                              | CUSIP: 000000000<br>LEI: 335800WLGF5TDN2DEO63 | Long             | EC               | CORP              | IN        |     45897 | NS      | $397439.11    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds                      | BlackRock Liquidity Funds: T-Fund, Institutional Shares | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   1523781 | NS      | $1523781.11   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                         | MSCI EMGMKT SEP25                                       | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |        25 | NC      | $-5760.50     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Hongfa Technology Co Ltd                       | Hongfa Technology Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    245400 | NS      | $833260.98    | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Sany Heavy Industry Co Ltd                     | Sany Heavy Industry Co Ltd                              | CUSIP: 000000000<br>LEI: 3003001FS86S7NYOHV89 | Long             | EC               | CORP              | CN        |    641000 | NS      | $1769931.86   | 2.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Vishal Mega Mart Ltd                           | Vishal Mega Mart Ltd                                    | CUSIP: 000000000<br>LEI: 335800AL4QPSIFSU3936 | Long             | EC               | CORP              | IN        |    162443 | NS      | $257792.68    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Biologics Co Ltd                       | Samsung Biologics Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1431 | NS      | $1093323.42   | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                         | FPT CORP                                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | VN        |    139285 | OU      | $551444.58    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| China Life Insurance Co Ltd                    | China Life Insurance Co Ltd                             | CUSIP: 000000000<br>LEI: 549300J6TFLDXGH6S048 | Long             | EC               | CORP              | CN        |    353000 | NS      | $1019679.13   | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV             | Grupo Financiero Banorte SAB de CV                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     97807 | NS      | $871630.68    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd                              | Bharti Airtel Ltd                                       | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |     45512 | NS      | $990756.91    | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA               | Powszechny Zaklad Ubezpieczen SA                        | CUSIP: 000000000<br>LEI: QLPCKOOKVX32FUELX240 | Long             | EC               | CORP              | PL        |     70315 | NS      | $1178548.13   | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahindra & Mahindra Ltd                        | Mahindra & Mahindra Ltd                                 | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |      8130 | NS      | $296164.35    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Aldar Properties PJSC                          | Aldar Properties PJSC                                   | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |    259388 | NS      | $670293.68    | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Lojas Renner SA                                | Lojas Renner SA                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    489920 | NS      | $1423506.96   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN BROTHERS HKD HKD OVERNIGHT SWEEP         | BROWN BROTHERS HKD                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    236505 | NS      | $30128.02     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Hyundai Electric Co Ltd                     | HD Hyundai Electric Co Ltd                              | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |      1370 | NS      | $487531.07    | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                  | AXIS BANK GDR LTD                                       | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DE               |  | GB        |      6057 | OU      | $367396.86    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                  | HONG KONG EXCHANGES AND CLEARING L                      | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DE               |  | HK        |      2600 | OU      | $140708.87    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Krungthai Card PCL                             | Krungthai Card PCL                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |     27100 | NS      | $23583.03     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Wiwynn Corp                                    | Wiwynn Corp                                             | CUSIP: 000000000<br>LEI: 254900FV2R15PMKXFL69 | Long             | EC               | CORP              | TW        |     23000 | NS      | $2099130.38   | 2.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Accton Technology Corp                         | Accton Technology Corp                                  | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |     77000 | NS      | $2274132.48   | 2.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                     | Samsung Electronics Co Ltd                              | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      1117 | NS      | $1397780.17   | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Square Co Ltd                               | SK Square Co Ltd                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      8208 | NS      | $884086.44    | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Kaspi.KZ JSC                                   | Kaspi.KZ JSC                                            | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |      9172 | NS      | $723670.80    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                      | Alibaba Group Holding Ltd                               | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    117300 | NS      | $1763577.98   | 2.31%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc                                   | SK Hynix Inc                                            | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      9028 | NS      | $1749769.14   | 2.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd      | Taiwan Semiconductor Manufacturing Co Ltd               | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    188000 | NS      | $7237859.48   | 9.49%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                                 | ICICI Bank Ltd                                          | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     88155 | NS      | $1484467.94   | 1.95%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                                 | ICICI Bank Ltd                                          | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      3770 | NS      | $127049.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| China Merchants Bank Co Ltd                    | China Merchants Bank Co Ltd                             | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |     74500 | NS      | $483441.12    | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Pepkor Holdings Ltd                            | Pepkor Holdings Ltd                                     | CUSIP: 000000000<br>LEI: 3789006D677C34F69875 | Long             | EC               | CORP              | ZA        |    829727 | NS      | $1246047.60   | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Aditya Birla Capital Ltd                       | Aditya Birla Capital Ltd                                | CUSIP: 000000000<br>LEI: 5299009K0PUXVSIRL787 | Long             | EC               | CORP              | IN        |    304382 | NS      | $886846.25    | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                           | Tencent Holdings Ltd                                    | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     84000 | NS      | $5881024.59   | 7.71%             |  |  |  | No            |                  2 | On Loan: No      |
| KE Holdings Inc                                | KE Holdings Inc                                         | CUSIP: 482497104<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | KY        |     62356 | NS      | $1148597.52   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastroc Beverage Group Co Ltd                  | Eastroc Beverage Group Co Ltd                           | CUSIP: 000000000<br>LEI: 836800LQ338417RCIL29 | Long             | EC               | CORP              | CN        |     18000 | NS      | $701830.25    | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| NAVER Corp                                     | NAVER Corp                                              | CUSIP: 000000000<br>LEI: 988400ULUQYDB2HQYJ61 | Long             | EC               | CORP              | KR        |      3395 | NS      | $571361.90    | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| BROWN BROTHERS AUD AUD OVERNIGHT SWEEP         | BROWN BROTHERS AUD                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |       160 | NS      | $102.73       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

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

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer