# EDGAR Filing Document

**Accession Number:** 0000887509
**File Stem:** 0001193125-25-287123
**Filing Date:** 2025-11
**Character Count:** 8032
**Document Hash:** c6648580dc65f68e76a06331023b1fb2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-287123.hdr.sgml**: 20251119

**ACCESSION NUMBER**: 0001193125-25-287123

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 11

**FILED AS OF DATE**: 20251119

**DATE AS OF CHANGE**: 20251119

**EFFECTIVENESS DATE**: 20251119

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Capital Appreciation Fund, Inc.
- **CENTRAL INDEX KEY:** 0000887509

**ORGANIZATION NAME:**
- **EIN:** 223186366
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-47875
- **FILM NUMBER:** 251496795

**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 FUNDAMENTAL GROWTH FUND, INC.
- **DATE OF NAME CHANGE:** 20061002

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH FUNDAMENTAL GROWTH FUND INC
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### BLACKROCK CAPITAL APPRECIATION FUND, INC. (Series ID: S000002520)

---

|  |  |
|:---|:---|
| Class Name    | Class ID   |
| Investor A    | C000006952 |
| Investor C    | C000006954 |
| Institutional | C000006955 |
| Class R       | C000006956 |
| Class K       | C000088417 |

---

## Series and Classes Contracts Data

### BLACKROCK CAPITAL APPRECIATION FUND, INC. (Series ID: S000002520)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000006952 | Investor A    |  |
| C000006954 | Investor C    |  |
| C000006955 | Institutional |  |
| C000006956 | Class R       |  |
| C000088417 | Class K       |  |

?xml version='1.0' encoding='ASCII'? BLACKROCK CAPITAL APPRECIATION FUND, INC.

------

#### BLACKROCK CAPITAL APPRECIATION FUND, INC.
(the "Fund")

#### Supplement dated November 19, 2025 (the "Supplement") to the Fund's

#### Summary Prospectuses and Prospectuses, each dated September 26, 2025, as supplemented to date

#### Effective immediately, the following changes are made to the Fund's Summary Prospectuses and Prospectuses, as applicable:
**The fourth paragraph of the section of the Summary Prospectuses entitled "Key Facts About BlackRock Capital Appreciation Fund, Inc. — Principal Investment Strategies of the Fund" and the fourth paragraph of the section of the Prospectuses entitled "Fund Overview — Key Facts About BlackRock Capital Appreciation Fund, Inc. — Principal Investment Strategies of the Fund" are deleted in their entirety and replaced with the following:** 

The Fund may invest in companies of any size but emphasizes investments in companies that have large stock market capitalizations (currently, approximately $2 billion or more).

**The section of the Summary Prospectuses entitled "Key Facts About BlackRock Capital Appreciation Fund, Inc. — Portfolio Managers" and the section of the Prospectuses entitled "Fund Overview — Key Facts About BlackRock Capital Appreciation Fund, Inc. — Portfolio Managers" are deleted in their entirety and replaced with the following:** 

#### Portfolio Managers

---

| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Portfolio Manager of<br>the Fund Since** | **Title** |
| Sally Du, CFA | 2025 | Director of BlackRock, Inc. |
| Reid Menge | 2025 | Managing Director of BlackRock, Inc. |

---

**The section of the Prospectuses entitled "Details About the Fund — How the Fund Invests — Investment Process" is deleted in its entirety and replaced with the following:** 

#### Investment Process
Fund management seeks to identify long-term, structural investment themes that are reshaping the global economy. Within these themes, management looks to invest in fundamentally sound companies that have above-average return potential based on factors such as revenue and earnings growth, estimate revisions, profitability and relative value. The factors and the weight assigned to a factor may change depending on market conditions. The disciplined investment process uses bottom-up stock selection as the primary driver of returns, while incorporating quantitative tools to enhance decision-making. The Fund emphasizes large companies that exhibit above-average growth and accelerating earnings.

When constructing the portfolio, the Fund uses a quantitative, optimization-assisted process that considers the risk and factor profile of individual securities. This supports the portfolio managers in the construction of a portfolio that expresses the highest conviction stock-specific views while mitigating style and macro exposure.

While the Fund generally expects to invest across a broad range of industries, it may favor companies in those industries that appear to offer higher potential for long-term growth.

The Fund generally will sell a stock when, in the Fund management team's opinion, the stock reaches its price target, there is a deterioration in the company's future growth prospects, an inability to sustain earnings momentum, less attractive valuation, a significant price change or more compelling investment opportunities elsewhere.

------

**The fourth paragraph of the section of the Prospectuses entitled "Details About the Fund — How the Fund Invests — Principal Investment Strategies" is deleted in its entirety and replaced with the following:** 

The Fund may invest in companies of any size but emphasizes investments in companies that have large stock market capitalizations (currently, approximately $2 billion or more). Investment in companies with lower market capitalizations, especially those under $1 billion, may involve special risks including limited product lines, market or financial resources or a limited management group. In addition, many smaller company stocks trade less frequently and in smaller volume, and may be subject to more abrupt or erratic price movements or more sensitive to market fluctuations, than stocks of larger companies.

**The section of the Prospectuses entitled "Details About the Fund — How the Fund Invests — About the Portfolio Management Team of the Fund" is deleted in its entirety and replaced with the following:** 

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;**ABOUT THE PORTFOLIO MANAGEMENT TEAM OF THE FUND** |
| &nbsp;&nbsp;&nbsp;The Fund is managed by a team of financial professionals. Sally Du, CFA, and Reid Menge are the portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund. Please see "Management of the Fund — Portfolio Manager Information" for additional information about the portfolio management team. |

---

#### The section of the Prospectuses entitled "Management of the Fund — Portfolio Manager Information" is deleted in its entirety and replaced with the following:

#### Portfolio Manager Information
Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund's SAI.

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Manager** | **Primary Role** | **Since** | **Title and Recent Biography** |
| Sally Du, CFA | Jointly and primarily responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2025 | Director of BlackRock, Inc. since 2019. |
| Reid Menge | Jointly and primarily responsible for<br> the day-to-day management of the<br> Fund's portfolio, including setting the<br> Fund's overall investment strategy<br> and overseeing the management of<br> the Fund. | 2025 | Managing Director of BlackRock, Inc. since 2023; Director of BlackRock, Inc. from 2020 to 2022. |

---

#### Shareholders should retain this Supplement for future reference.