# EDGAR Filing Document

**Accession Number:** 0000849402
**File Stem:** 0002071691-26-007350
**Filing Date:** 2026-3
**Character Count:** 42638
**Document Hash:** 7028f656ba6e63f4705dbf6ef880e1a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-007350.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0002071691-26-007350

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK EMERGING MARKETS FUND, INC.
- **CENTRAL INDEX KEY:** 0000849402

**ORGANIZATION NAME:**
- **EIN:** 222986118
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05723
- **FILM NUMBER:** 26803369

**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 GLOBAL EMERGING MARKETS FUND, INC.
- **DATE OF NAME CHANGE:** 20080317

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH DEVELOPING CAPITAL MARKETS FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### BLACKROCK EMERGING MARKETS FUND, INC. (Series ID: S000002250)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000005814 | Investor A    |  |
| C000005816 | Investor C    |  |
| C000005817 | Institutional |  |
| C000198223 | Class K       |  |

## 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 Emerging Markets Fund, Inc.

- **b. Investment Company Act file number:** 811-05723

- **c. CIK number of Registrant:** 0000849402

- **d. LEI of Registrant:** V7MCQIT131MC0O5SFL70

- **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 Emerging Markets Fund, Inc.

- **b. EDGAR series identifier (if any):** S000002250

- **c. LEI of Series:** V7MCQIT131MC0O5SFL70

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

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

- **b. Date as of which information is reported:** 2026-01-31

**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:** $2087869588.90

**Total Liabilities:** $33137811.29

**Net Assets:** $2054731777.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005816 | -0.59%               | 2.78%                | 7.89%                |
| Class ID C000005817 | -0.53%               | 2.86%                | 7.98%                |
| Class ID C000198223 | -0.53%               | 2.90%                | 7.95%                |
| Class ID C000005814 | -0.52%               | 2.85%                | 7.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $24225212.07             | $-32310452.79                              |
| Month 2  | $19030515.94             | $28573053.89                               |
| Month 3  | $45302916.63             | $104242399.98                              |

**Designated Index Information**

- **Index Name:** MSCI Emerging Markets Index

- **Index Identifier:** GDUEEGF

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Norwegian Krone                                         | Norwegian Krone                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | NO        |       176 | OU      | $18.23        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CG Power & Industrial Solutions Ltd.                    | CG Power & Industrial Solutions Ltd.                    | CUSIP: N/A<br>LEI: 335800KN5UTZKUZN2703       | Long             | EC               | CORP              | IN        |   1389292 | NS      | $8851188.07   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | Zijin Mining Group Co. Ltd., Class A                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |   4366200 | NS      | $1692173.56   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Novatek PJSC                                            | Novatek PJSC                                            | CUSIP: N/A<br>LEI: 2138008R6GCRVBDFA581       | Long             | EC               | CORP              | RU        |    295922 | NS      | $38.94        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sea Ltd.                                                | Sea Ltd., Class A                                       | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |     95783 | NS      | $11157761.67  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Sociedad Quimica y Minera de Chile SA                   | Sociedad Quimica y Minera de Chile SA                   | CUSIP: 833635105<br>LEI: TJ88LXZZW5PWIN93ZC81 | Long             | EC               | CORP              | CL        |    117538 | NS      | $9031619.92   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Rand                                                    | Rand                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | ZA        |         0 | OU      | $0.03         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Futu Holdings Ltd.                                      | Futu Holdings Ltd.                                      | CUSIP: 36118L106<br>LEI: 213800X4W4ZRESFPTQ37 | Long             | EC               | CORP              | KY        |    191958 | NS      | $31206612.06  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd.                              | Alibaba Group Holding Ltd.                              | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |   1850800 | NS      | $39373154.37  | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Meituan                                                 | Meituan, Class B                                        | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | KY        |    624700 | NS      | $7722843.47   | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | Axis Bank Ltd.                                          | CUSIP: 05462W109<br>LEI: N/A                  | N/A              | DE               |  | US        |    132476 | NS      | $333764.96    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Varun Beverages Ltd.                                    | Varun Beverages Ltd.                                    | CUSIP: N/A<br>LEI: 33580058NWEMWBDNMD48       | Long             | EC               | CORP              | IN        |   3146246 | NS      | $16116105.74  | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Cyrela Brazil Realty SA Empreendimentos e Participacoes | Cyrela Brazil Realty SA Empreendimentos e Participacoes | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |   2512215 | NS      | $14253905.26  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                     | Hong Kong Exchanges & Clearing Ltd.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    516600 | NS      | $269860.70    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Capitec Bank Holdings Ltd.                              | Capitec Bank Holdings Ltd.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | ZA        |    104202 | NS      | $27977587.74  | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | Contemporary Amperex Technology Co. Ltd., Class A       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    128600 | NS      | $172432.46    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuaishou Technology                                     | Kuaishou Technology                                     | CUSIP: N/A<br>LEI: 300300FCDZBE6UP9ED24       | Long             | EC               | CORP              | KY        |   1157400 | NS      | $11825286.07  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| China Resources Land Ltd.                               | China Resources Land Ltd.                               | CUSIP: N/A<br>LEI: 5299001HL0TU7X15HK51       | Long             | EC               | CORP              | KY        |   4909000 | NS      | $19224564.25  | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Britannia Industries Ltd.                               | Britannia Industries Ltd.                               | CUSIP: N/A<br>LEI: 335800RRN5EVHNNAXN80       | Long             | EC               | CORP              | IN        |    138556 | NS      | $8827367.17   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Funds III                                     | BlackRock Cash Funds: Institutional, SL Agency Shares   | CUSIP: 066922519<br>LEI: 549300JDHS1T46VWOG19 | Long             | STIV             | RF                | US        |  20730121 | NS      | $20740486.50  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Rupiah                                                  | Rupiah                                                  | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | ID        |        -2 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| XP, Inc.                                                | XP, Inc., Class A                                       | CUSIP: N/A<br>LEI: 5493008KDA8NBZRJST80       | Long             | EC               | CORP              | KY        |   1642924 | NS      | $32053447.24  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd.             | Taiwan Semiconductor Manufacturing Co. Ltd.             | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |   3919000 | NS      | $216704777.43 | 10.55%            |  |  |  | No            |                  2 | On Loan: No      |
| Forint                                                  | Forint                                                  | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | HU        |        -3 | OU      | $-0.01        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Bank Mandiri Persero Tbk. PT                            | Bank Mandiri Persero Tbk. PT                            | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | EC               | CORP              | ID        |  61241500 | NS      | $17622015.28  | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Mexican Peso                                            | Mexican Peso                                            | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | MX        |        -0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Contemporary Amperex Technology Co. Ltd.                | Contemporary Amperex Technology Co. Ltd., Class H       | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |    263600 | NS      | $16447987.98  | 0.80%             |  |  |  | No            |                  2 | On Loan: —       |
| Emaar Properties PJSC                                   | Emaar Properties PJSC                                   | CUSIP: N/A<br>LEI: 254900YWYEXYXK1BMP81       | Long             | EC               | CORP              | AE        |   1950592 | NS      | $7979275.41   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | Sany Heavy Industry Co. Ltd., Class A                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |   3430600 | NS      | $275710.22    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Akbank TAS                                              | Akbank TAS                                              | CUSIP: N/A<br>LEI: 789000TUMN63Z28TJ497       | Long             | EC               | CORP              | TR        |   6220348 | NS      | $13305704.20  | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Polska Kasa Opieki SA                              | Bank Polska Kasa Opieki SA                              | CUSIP: N/A<br>LEI: 5493000LKS7B3UTF7H35       | Long             | EC               | CORP              | PL        |    328167 | NS      | $19958465.11  | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | FPT Corp.                                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |   2793185 | NS      | $985901.77    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA                        | Powszechny Zaklad Ubezpieczen SA                        | CUSIP: N/A<br>LEI: QLPCKOOKVX32FUELX240       | Long             | EC               | CORP              | PL        |   1020136 | NS      | $20072540.47  | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | MSCI Emerging Markets E-Mini Index                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       379 | NC      | $-411592.59   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk. PT                               | Bank Central Asia Tbk. PT                               | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |   2636900 | NS      | $1165112.78   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd.                                          | HDFC Bank Ltd.                                          | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |   2481808 | NS      | $25094244.29  | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Sany Heavy Industry Co. Ltd.                            | Sany Heavy Industry Co. Ltd., Class A                   | CUSIP: N/A<br>LEI: 3003001FS86S7NYOHV89       | Long             | EC               | CORP              | CN        |  15439551 | NS      | $48624024.04  | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Salik Co. PJSC                                          | Salik Co. PJSC                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |   6764771 | NS      | $11752005.17  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Aneka Tambang Tbk.                                      | Aneka Tambang Tbk.                                      | CUSIP: N/A<br>LEI: 529900LRE2NALSSHMB80       | Long             | EC               | CORP              | ID        |  16190300 | NS      | $3985797.61   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Alpha Bank SA                                           | Alpha Bank SA                                           | CUSIP: N/A<br>LEI: 213800DBQIB6VBNU5C64       | Long             | EC               | CORP              | GR        |   3871513 | NS      | $18532797.04  | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Rede D'Or Sao Luiz SA                                   | Rede D'Or Sao Luiz SA                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    870896 | NS      | $6998278.82   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Krungthai Card PCL                                      | Krungthai Card PCL                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |   5737800 | NS      | $5217772.92   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | Hongfa Technology Co. Ltd., Class A                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |   4596394 | NS      | $-1508412.83  | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Rabigh Refining & Petrochemical Co.                     | Rabigh Refining & Petrochemical Co.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |   4372958 | NS      | $8298008.17   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Yuan Renminbi                                           | Yuan Renminbi                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CN        |         0 | OU      | $0.03         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepkor Holdings Ltd.                                    | Pepkor Holdings Ltd.                                    | CUSIP: N/A<br>LEI: 3789006D677C34F69875       | Long             | EC               | CORP              | ZA        |   7731597 | NS      | $12633242.92  | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd.                                   | Tencent Holdings Ltd.                                   | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |   1874600 | NS      | $144085145.35 | 7.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                               | BlackRock Liquidity Funds, T-Fund, Institutional Class  | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        | 152406386 | NS      | $152406386.49 | 7.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp.                                      | Kinross Gold Corp.                                      | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |    741946 | NS      | $23415815.76  | 1.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Al Rajhi Bank                                           | Al Rajhi Bank                                           | CUSIP: N/A<br>LEI: 558600BQZS4Y1DTU8589       | Long             | EC               | CORP              | SA        |    301859 | NS      | $8619979.60   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co. Ltd.                         | ASE Technology Holding Co. Ltd.                         | CUSIP: N/A<br>LEI: 300300GO8QHPMV87NZ73       | Long             | EC               | CORP              | TW        |   2036000 | NS      | $18928915.59  | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Midea Group Co. Ltd.                                    | Midea Group Co. Ltd., Class A                           | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61       | Long             | EC               | CORP              | CN        |   1244500 | NS      | $13875308.34  | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Elite Material Co. Ltd.                                 | Elite Material Co. Ltd.                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    480000 | NS      | $26036422.05  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| New Taiwan Dollar                                       | New Taiwan Dollar                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | TW        |   2963699 | OU      | $94175.37     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank Nyrt.                                          | OTP Bank Nyrt.                                          | CUSIP: N/A<br>LEI: 529900W3MOO00A18X956       | Long             | EC               | CORP              | HU        |    401620 | NS      | $50536666.77  | 2.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd.                        | Apollo Hospitals Enterprise Ltd.                        | CUSIP: N/A<br>LEI: 3358005YT7JQCWYLTG43       | Long             | EC               | CORP              | IN        |    272594 | NS      | $20643334.71  | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eastroc Beverage Group Co. Ltd.                         | Eastroc Beverage Group Co. Ltd., Class A                | CUSIP: N/A<br>LEI: 836800LQ338417RCIL29       | Long             | EC               | CORP              | CN        |    469400 | NS      | $16868741.12  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Co. Ltd.                             | Zijin Mining Group Co. Ltd., Class A                    | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | CN        |    858100 | NS      | $4793357.83   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co. Ltd.                | Contemporary Amperex Technology Co. Ltd., Class A       | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |    496800 | NS      | $25023699.05  | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Accton Technology Corp.                                 | Accton Technology Corp.                                 | CUSIP: N/A<br>LEI: 529900M1YRZ0GWMDF920       | Long             | EC               | CORP              | TW        |   1014000 | NS      | $35452739.32  | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd.                              | Alibaba Group Holding Ltd.                              | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    168590 | NS      | $28586120.40  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd.                                | Reliance Industries Ltd.                                | CUSIP: N/A<br>LEI: 5493003UOETFYRONLG31       | Long             | EC               | CORP              | IN        |   1113497 | NS      | $16919515.13  | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Square Co. Ltd.                                      | SK Square Co. Ltd.                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    159338 | NS      | $62373083.27  | 3.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Aeroportuario del Pacifico SAB de CV              | Grupo Aeroportuario del Pacifico SAB de CV              | CUSIP: 400506101<br>LEI: 4469000001BZ368XFI90 | Long             | EC               | CORP              | MX        |     73088 | NS      | $20092622.08  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Sberbank of Russia PJSC                                 | Sberbank of Russia PJSC                                 | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | RU        |   6788060 | NS      | $893.17       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BBB Foods, Inc.                                         | BBB Foods, Inc., Class A                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VG        |    390245 | NS      | $13615648.05  | 0.66%             |  |  |  | No            |                  1 | On Loan: —       |
| Indian Rupee                                            | Indian Rupee                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IN        | 327793183 | OU      | $3563453.54   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Gazprom PJSC                                            | Gazprom PJSC                                            | CUSIP: N/A<br>LEI: 213800FD9J2IHTA7YX78       | Long             | EC               | CORP              | RU        |   8520027 | NS      | $1121.06      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| HD Hyundai Electric Co. Ltd.                            | HD Hyundai Electric Co. Ltd.                            | CUSIP: N/A<br>LEI: 988400CSDKM9UHLHGB91       | Long             | EC               | CORP              | KR        |     37019 | NS      | $22679496.77  | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Aldar Properties PJSC                                   | Aldar Properties PJSC                                   | CUSIP: N/A<br>LEI: 98450048CD8AEF13B480       | Long             | EC               | CORP              | AE        |   6064704 | NS      | $15854420.78  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group, Inc.                                | KB Financial Group, Inc.                                | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               | CORP              | KR        |    212622 | NS      | $19901253.59  | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| UltraTech Cement Ltd.                                   | UltraTech Cement Ltd.                                   | CUSIP: N/A<br>LEI: 335800PC9O9B4BQHG814       | Long             | EC               | CORP              | IN        |    152145 | NS      | $21028314.52  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Brazilian Real                                          | Brazilian Real                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | BR        |         0 | OU      | $0.01         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics, Inc.                                 | Delta Electronics, Inc.                                 | CUSIP: N/A<br>LEI: 529900UVZWNWGDLJSM52       | Long             | EC               | CORP              | TW        |    703000 | NS      | $26828130.79  | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix, Inc.                                          | SK hynix, Inc.                                          | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |    126061 | NS      | $78709648.77  | 3.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp.                                            | Xiaomi Corp., Class B                                   | CUSIP: N/A<br>LEI: 2549001ACVFAZRNMKL32       | Long             | EC               | CORP              | KY        |    981200 | NS      | $4441470.18   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanil Electric Co. Ltd.                                 | Sanil Electric Co. Ltd.                                 | CUSIP: N/A<br>LEI: 988400KW0ZAP6QNYIX16       | Long             | EC               | CORP              | KR        |     93967 | NS      | $9533080.79   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Sany Heavy Industry Co. Ltd.                            | Sany Heavy Industry Co. Ltd.                            | CUSIP: N/A<br>LEI: 3003001FS86S7NYOHV89       | Long             | EC               | CORP              | CN        |   4921000 | NS      | $14999317.51  | 0.73%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Amber Enterprises India Ltd.                            | Amber Enterprises India Ltd.                            | CUSIP: N/A<br>LEI: 3358009JZU4XT3666G06       | Long             | EC               | CORP              | IN        |     18092 | NS      | $1126281.65   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                     | NAURA Technology Group Co. Ltd., Class A                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | GB        |    139510 | NS      | $-613405.51   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Wiwynn Corp.                                            | Wiwynn Corp.                                            | CUSIP: N/A<br>LEI: 254900FV2R15PMKXFL69       | Long             | EC               | CORP              | TW        |    423000 | NS      | $47414976.35  | 2.31%             |  |  |  | No            |                  2 | On Loan: No      |
| T-Tekhnologii MKPAO                                     | T-Tekhnologii MKPAO                                     | CUSIP: 87238U203<br>LEI: 549300XQRN9MR54V1W18 | Long             | EC               | CORP              | RU        |     25066 | NS      | $3.30         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BOC Hong Kong Holdings Ltd.                             | BOC Hong Kong Holdings Ltd.                             | CUSIP: N/A<br>LEI: 254900JB98W77JDJMW15       | Long             | EC               | CORP              | HK        |   3003500 | NS      | $15816403.28  | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd.                                         | ICICI Bank Ltd.                                         | CUSIP: N/A<br>LEI: R7RX8ER1V4666J8D1I38       | Long             | EC               | CORP              | IN        |   1780940 | NS      | $26255736.48  | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Lojas Renner SA                                         | Lojas Renner SA                                         | CUSIP: N/A<br>LEI: 52990032N7OAAM138D78       | Long             | EC               | CORP              | BR        |   5183687 | NS      | $14764803.22  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Won                                                     | Won                                                     | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | KR        |       -25 | OU      | $-0.02        | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BDO Unibank, Inc.                                       | BDO Unibank, Inc.                                       | CUSIP: N/A<br>LEI: 3FGIIBS1PEI1FYQBGN97       | Long             | EC               | CORP              | PH        |   3577993 | NS      | $8200535.63   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd.                                      | Bharti Airtel Ltd.                                      | CUSIP: N/A<br>LEI: 335800KQ1FPKOQ84OR26       | Long             | EC               | CORP              | IN        |    638532 | NS      | $13694576.76  | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Zijin Mining Group Co. Ltd.                             | Zijin Mining Group Co. Ltd., Class H                    | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561       | Long             | EC               | CORP              | CN        |   7492000 | NS      | $39063460.31  | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Zloty                                                   | Zloty                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | PL        |         0 | OU      | $0.13         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Uae Dirham                                              | Uae Dirham                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | AE        |      1977 | OU      | $538.26       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                      | Grupo Financiero Banorte SAB de CV, Class O             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |   3390684 | NS      | $38332423.77  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| LUKOIL PJSC                                             | LUKOIL PJSC                                             | CUSIP: N/A<br>LEI: 549300LCJ1UJXHYBWI24       | Long             | EC               | CORP              | RU        |   1370026 | NS      | $180.27       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Philippine Peso                                         | Philippine Peso                                         | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | PH        |        -0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                                    | EURO                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |     13500 | OU      | $16002.21     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishal Mega Mart Ltd.                                   | Vishal Mega Mart Ltd.                                   | CUSIP: N/A<br>LEI: 335800AL4QPSIFSU3936       | Long             | EC               | CORP              | IN        |   3758101 | NS      | $5145950.42   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Pan American Silver Corp.                               | Pan American Silver Corp.                               | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    737481 | NS      | $40266462.60  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Eldorado Gold Corp.                                     | Eldorado Gold Corp.                                     | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |    265397 | NS      | $11386547.75  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Gold International Co. Ltd.                       | Zijin Gold International Co. Ltd.                       | CUSIP: N/A<br>LEI: 254900FINUJR4MZ8A417       | Long             | EC               | CORP              | HK        |    212700 | NS      | $5892653.25   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Alchip Technologies Ltd.                                | Alchip Technologies Ltd.                                | CUSIP: N/A<br>LEI: 529900HKE9RIY07SLX84       | Long             | EC               | CORP              | KY        |    304000 | NS      | $29846548.78  | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Eicher Motors Ltd.                                      | Eicher Motors Ltd.                                      | CUSIP: N/A<br>LEI: 25490059S64CN2OY7239       | Long             | EC               | CORP              | IN        |    169600 | NS      | $13144191.88  | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| China Life Insurance Co. Ltd.                           | China Life Insurance Co. Ltd., Class H                  | CUSIP: N/A<br>LEI: 549300J6TFLDXGH6S048       | Long             | EC               | CORP              | CN        |   7446000 | NS      | $33136483.01  | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi Riyal                                             | Saudi Riyal                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SA        |       976 | OU      | $260.34       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co. Ltd.                            | Samsung Electronics Co. Ltd.                            | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |    827935 | NS      | $91465936.39  | 4.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Cyrela Brazil Realty SA Empreendimentos e Participacoes | Cyrela Brazil Realty SA Empreendimentos e Participacoes | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | BR        |    476275 | NS      | $2546649.28   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mahindra & Mahindra Ltd.                                | Mahindra & Mahindra Ltd.                                | CUSIP: N/A<br>LEI: 3358003B573EV4KB4Z02       | Long             | EC               | CORP              | IN        |    695571 | NS      | $25972435.92  | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Eldorado Gold Corp.                                     | Eldorado Gold Corp.                                     | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |    240290 | NS      | $10313246.80  | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2026-01-31

**Name of Applicant:** BlackRock Emerging Markets Fund, Inc.

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer