# EDGAR Filing Document

**Accession Number:** 0000355916
**File Stem:** 0002071691-25-007658
**Filing Date:** 2025-11
**Character Count:** 18704
**Document Hash:** 8a4d496b8455ad619dc5cf50631d1405
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-007658.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0002071691-25-007658

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Variable Series Funds, Inc.
- **CENTRAL INDEX KEY:** 0000355916

**ORGANIZATION NAME:**
- **EIN:** 133093080
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03290
- **FILM NUMBER:** 251526988

**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:** FAM Variable Series Funds, Inc.
- **DATE OF NAME CHANGE:** 20050720

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH VARIABLE SERIES FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### BlackRock Capital Appreciation V.I. Fund (Series ID: S000002885)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000007932 | Class I      |  |
| C000007934 | Class III    |  |

## 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 Variable Series Funds, Inc.

- **b. Investment Company Act file number:** 811-03290

- **c. CIK number of Registrant:** 0000355916

- **d. LEI of Registrant:** 5493007IJN5JRPJ1DF61

- **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 Capital Appreciation V.I. Fund

- **b. EDGAR series identifier (if any):** S000002885

- **c. LEI of Series:** VR7RG2TI3BE7WOQX6W11

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $87883273.26

**Total Liabilities:** $3889403.57

**Net Assets:** $83993869.69

**Cash Not Reported:** $181796.22

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007934 | 2.14%                | -0.40%               | 4.14%                |
| Class ID C000007932 | 2.19%                | -0.48%               | 4.25%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1026379.28              | $817635.26                                 |
| Month 2  | $589571.74               | $-981164.05                                |
| Month 3  | $1159339.29              | $2204161.19                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Oracle Corp.                                | Oracle Corp.                                          | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      4091 | NS      | $1150552.84   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.                | Cadence Design Systems, Inc.                          | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      4614 | NS      | $1620713.64   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd. | Taiwan Semiconductor Manufacturing Co. Ltd.           | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      6767 | NS      | $1889955.43   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp.                              | Amphenol Corp., Class A                               | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      5267 | NS      | $651791.25    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group, Inc.                          | CoStar Group, Inc.                                    | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |      4860 | NS      | $410038.20    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                | NVIDIA Corp.                                          | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     61863 | NS      | $11542398.54  | 13.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                            | Amazon.com, Inc.                                      | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     30893 | NS      | $6783176.01   | 8.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings, Inc.             | Hilton Worldwide Holdings, Inc.                       | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      3347 | NS      | $868345.68    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                             | Eli Lilly & Co.                                       | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      2776 | NS      | $2118088.00   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp.                               | Danaher Corp.                                         | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      2975 | NS      | $589823.50    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Adyen NV                                    | Adyen NV                                              | CUSIP: N/A<br>LEI: 724500973ODKK3IFQ447       | Long             | EC               | CORP              | NL        |       620 | NS      | $997628.85    | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Howmet Aerospace, Inc.                      | Howmet Aerospace, Inc.                                | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      4582 | NS      | $899125.86    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp.                     | Boston Scientific Corp.                               | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      8782 | NS      | $857386.66    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit, Inc.                                | Intuit, Inc.                                          | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      3507 | NS      | $2394965.37   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                                 | Apple, Inc.                                           | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     20127 | NS      | $5124938.01   | 6.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp.                            | Fair Isaac Corp.                                      | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       309 | NS      | $462427.77    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Funds III                         | BlackRock Cash Funds: Institutional, SL Agency Shares | CUSIP: 066922519<br>LEI: 549300JDHS1T46VWOG19 | Long             | STIV             | RF                | US        |   3552529 | NS      | $3554305.64   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                       | Spotify Technology SA                                 | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |      2678 | NS      | $1869244.00   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla, Inc.                                 | Tesla, Inc.                                           | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      4851 | NS      | $2157336.72   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co., Inc.                             | KKR & Co., Inc.                                       | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |     12525 | NS      | $1627623.75   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                             | ASML Holding NV (Registered), NYRS                    | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       487 | NS      | $471459.83    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies plc                      | Trane Technologies plc                                | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |      1121 | NS      | $473017.16    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co.                                 | Carvana Co., Class A                                  | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      3473 | NS      | $1310154.52   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co.                         | Vertiv Holdings Co., Class A                          | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |       302 | NS      | $45559.72     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group, Inc.                       | TransDigm Group, Inc.                                 | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       367 | NS      | $483713.34    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co. (The)                  | Sherwin-Williams Co. (The)                            | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       878 | NS      | $304016.28    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise, Inc.                       | Axon Enterprise, Inc.                                 | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      1485 | NS      | $1065695.40   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ByteDance Ltd., Series E-1                  | ByteDance Ltd., Series E-1                            | CUSIP: N/A<br>LEI: 54930057HU24VGK3CO92       | Long             | EP               | CORP              | GB        |      9690 | NS      | $2450310.30   | 2.92%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASM International NV                        | ASM International NV                                  | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |      1068 | NS      | $644163.92    | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrari NV                                  | Ferrari NV                                            | CUSIP: N/A<br>LEI: 549300RIVY5EX8RCON76       | Long             | EC               | CORP              | NL        |      3202 | NS      | $1553674.44   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global, Inc.                            | S&P Global, Inc.                                      | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      1778 | NS      | $865370.38    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                              | Broadcom, Inc.                                        | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     16822 | NS      | $5549746.02   | 6.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                        | Meta Platforms, Inc., Class A                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      7298 | NS      | $5359505.24   | 6.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                               | Netflix, Inc.                                         | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      2196 | NS      | $2632828.32   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital, Inc.                      | Blue Owl Capital, Inc., Class A                       | CUSIP: 09581B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34341 | NS      | $581393.13    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning, Inc.                               | Corning, Inc.                                         | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      6475 | NS      | $531144.25    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp.                              | AppLovin Corp., Class A                               | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      3122 | NS      | $2243281.88   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                             | Microsoft Corp.                                       | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     16739 | NS      | $8669965.05   | 10.32%            |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical, Inc.                    | Intuitive Surgical, Inc.                              | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      2764 | NS      | $1236143.72   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify, Inc.                               | Shopify, Inc., Class A                                | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      2893 | NS      | $429928.73    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa, Inc.                                  | Visa, Inc., Class A                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      9289 | NS      | $3171078.82   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.                | Charter Communications, Inc., Class A                 | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       183 | NS      | $50344.22     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** BlackRock Variable Series Funds, Inc.

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer