# EDGAR Filing Document

**Accession Number:** 0000202741
**File Stem:** 0001752724-23-071895
**Filing Date:** 2023-3
**Character Count:** 50714
**Document Hash:** a0c9a993a3fb86721ea9e4c5be36bfba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071895.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071895

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20230430

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02661
- **FILM NUMBER:** 23774016

**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

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) <br> January 31, 2023 | **BlackRock Sustainable Emerging Markets Equity Fund**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Common Stocks** |  |  |
| **Austria — 1.6%** |  |  |
|  Erste Group Bank AG | 40078 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520725 |
| **Brazil — 9.4%** |  |  |
|  Arezzo Industria e Comercio SA | 107903 | 1862046 |
|  B3 SA - Brasil Bolsa Balcao | 674361 | 1721672 |
|  Hapvida Participacoes e Investimentos SA<sup>(a)(b)</sup>  | 2033370 | 2062891 |
|  Iguatemi SA | 499299 | 1926850 |
|  Sendas Distribuidora SA | 338547 | 1310491 |
|  |  | 8883950 |
| **China — 32.2%** |  |  |
|  Alibaba Group Holding Ltd.<sup>(a)</sup>  | 173692 | 2388032 |
|  Alibaba Group Holding Ltd., ADR<sup>(a)</sup>  | 22750 | 2507050 |
|  Baidu, Inc., ADR<sup>(a)(c)</sup>  | 14348 | 1932389 |
|  Baidu, Inc., Class A<sup>(a)</sup>  | 55750 | 937160 |
|  China Mengniu Dairy Co. Ltd. | 362000 | 1746242 |
|  China Merchants Bank Co. Ltd., Class A | 153900 | 943614 |
|  China Merchants Bank Co. Ltd., Class H | 282500 | 1832331 |
|  Haier Smart Home Co. Ltd., Class A | 235800 | 901398 |
|  Haier Smart Home Co. Ltd., Class H | 288000 | 1062178 |
|  Kanzhun Ltd., ADR<sup>(a)</sup>  | 44279 | 1075537 |
|  KE Holdings, Inc., ADR<sup>(a)</sup>  | 82807 | 1518680 |
|  LONGi Green Energy Technology Co. Ltd., Class A<sup>(a)</sup>  | 202910 | 1454956 |
|  Meituan, Class B<sup>(a)(b)</sup>  | 99100 | 2215467 |
|  Shenzhen Inovance Technology Co. Ltd., Class A | 134100 | 1419357 |
|  Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 40900 | 2022673 |
|  Tencent Holdings Ltd. | 49000 | 2387717 |
|  Tencent Holdings Ltd., ADR | 2471 | 120461 |
|  Xinyi Solar Holdings Ltd. | 1184000 | 1540340 |
|  Yum China Holdings, Inc. | 41134 | 2534266 |
|  |  | 30539848 |
| **Egypt — 1.0%** |  |  |
|  Commercial International Bank Egypt SAE | 563544 | 926934 |
| **Greece — 1.4%** |  |  |
|  National Bank of Greece SA<sup>(a)</sup>  | 287242 | 1365741 |
| **Hong Kong — 3.1%** |  |  |
|  AIA Group Ltd. | 158000 | 1786608 |
|  Hang Lung Properties Ltd. | 608000 | 1146411 |
|  |  | 2933019 |
| **Hungary — 1.2%** |  |  |
|  OTP Bank Nyrt | 37287 | 1123513 |
| **India — 9.4%** |  |  |
|  Axis Bank Ltd. | 160276 | 1712986 |
|  HDFC Bank Ltd. | 139592 | 2746979 |
|  Hindustan Unilever Ltd. | 45549 | 1437088 |
|  ICICI Bank Ltd. | 91312 | 934228 |
|  ICICI Bank Ltd., ADR | 4520 | 94152 |
|  Tata Consultancy Services Ltd. | 48749 | 2012049 |
|  |  | 8937482 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Indonesia — 2.5%** |  |  |
|  Bank Central Asia Tbk PT | 2047500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161975 |
|  Bank Rakyat Indonesia Persero Tbk PT | 3859000 | 1183431 |
|  |  | 2345406 |
| **Kazakhstan — 1.3%** |  |  |
|  Kaspi.KZ JSC, GDR, Registered Shares<sup>(d)</sup>  | 16875 | 1240501 |
| **Mexico — 3.6%** |  |  |
|  Grupo Financiero Banorte SAB de CV, Class O | 211076 | 1750774 |
|  Wal-Mart de Mexico SAB de CV | 414997 | 1625564 |
|  |  | 3376338 |
| **Panama — 1.3%** |  |  |
|  Copa Holdings SA, Class A<sup>(a)</sup>  | 13744 | 1265548 |
| **Russia — 0.0%** |  |  |
|  TCS Group Holding PLC, GDR, Registered Shares<sup>(a)(d)(e)</sup>  | 30476 | 305 |
| **South Africa — 3.0%** |  |  |
|  Gold Fields Ltd. | 60378 | 688182 |
|  Gold Fields Ltd., ADR | 55290 | 632518 |
|  Life Healthcare Group Holdings Ltd. | 1035126 | 1016357 |
|  Naspers Ltd., N Shares | 2870 | 554883 |
|  |  | 2891940 |
| **South Korea — 9.4%** |  |  |
|  Samsung Electronics Co. Ltd. | 115375 | 5746855 |
|  Samsung Electronics Co. Ltd., GDR, Registered Shares<sup>(d)</sup> | 1013 | 1255474 |
|  Samsung SDI Co. Ltd. | 3492 | 1956924 |
|  |  | 8959253 |
| **Taiwan — 10.3%** |  |  |
|  Accton Technology Corp. | 114000 | 931639 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. | 449000 | 7923405 |
|  Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 9482 | 879266 |
|  |  | 9734310 |
| **Thailand — 1.5%** |  |  |
|  Bangkok Dusit Medical Services PCL, NVDR | 1522500 | 1376578 |
| **United Arab Emirates — 2.3%** |  |  |
|  Abu Dhabi Commercial Bank PJSC | 467744 | 1072750 |
|  Aldar Properties PJSC | 947139 | 1127984 |
|  |  | 2200734 |
| **United Kingdom — 2.4%** |  |  |
|  Prudential PLC | 89667 | 1489822 |
|  Standard Chartered PLC | 98040 | 823498 |
|  |  | 2313320 |
|  **Total Common Stocks — 96.9%<br>(Cost: $78,847,807)** | **Total Common Stocks — 96.9%<br>(Cost: $78,847,807)** | 91935445 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Sustainable Emerging Markets Equity Fund**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
|  **Preferred Securities** |  |  |
| **Preferred Stocks — 0.3%** |  |  |
| **South Korea — 0.3%** |  |  |
|  Samsung Electronics Co. Ltd., Preference Shares | 5964 | $267629 |
|  **Total Preferred Securities — 0.3%<br>(Cost: $190,127)** |  | 267629 |
|  **Total Long-Term Investments — 97.2%<br>(Cost: $79,037,934)** |  | 92203074 |
|  **Short-Term Securities** |  |  |
| **Money Market Funds — 2.4%** |  |  |
|  BlackRock Liquidity Funds, T-Fund, Institutional Class, 4.07%<sup>(f)(g)</sup>  | 1546947 | 1546947 |
|  SL Liquidity Series, LLC, Money Market Series, 4.54%<sup>(f)(g)(h)</sup>  | 735823 | 735970 |
|  **Total Short-Term Securities — 2.4%<br>(Cost: $2,282,374)** |  | 2282917 |
|  **Total Investments — 99.6%<br>(Cost: $81,320,308)** |  | 94485991 |
|  **Other Assets Less Liabilities — 0.4%** |  | 382209 |
|  **Net Assets — 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;94868200 |

---

<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> All or a portion of this security is on loan.

<sup>(d)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

<sup>(e)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

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

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates** 

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at<br>04/30/22* | *Purchases<br>at Cost* | *Proceeds<br>from Sales* | *Net<br>Realized<br>Gain (Loss)* | *Change in<br>Unrealized<br>Appreciation<br>(Depreciation)* | *Value at<br>01/31/23* | *Shares<br>Held at<br>01/31/23* | *Income* | *Capital Gain<br>Distributions<br>from<br>Underlying<br>Funds* |
|  BlackRock Liquidity Funds, T-Fund, Institutional Class | $5275604 | $— | $(3728657)<sup>(a)</sup> | $— | $— | $1546947 | 1546947 | $53766 | $— |
|  SL Liquidity Series, LLC, Money Market Series | 1689789 |  | (954311)<sup>(a)</sup> | (9) | 501 | 735970 | 735823 | 5171 <sup>(b)</sup> |  |
|  |  |  |  | $(9) | $501 | $2282917 |  | $58937 | $— |

---

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

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

**Derivative Financial Instruments Outstanding as of Period End** 

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | *Unrealized<br>Appreciation<br>(Depreciation)* |
| USD | 42075 | ZAR | 760000 | BNP Paribas S.A. | 02/28/23 | $(1503) |
| USD | 474996 | ZAR | 8575000 | HSBC Bank USA N.A. | 02/28/23 | (16691) |
| USD | 539236 | ZAR | 9715000 | JPMorgan Chase Bank N.A. | 02/28/23 | (17818) |
| ZAR | 9643052 | USD | 568851 | HSBC Bank USA N.A. | 02/28/23 | (15923) |
| ZAR | 9406948 | USD | 550947 | JPMorgan Chase Bank N.A. | 02/28/23 | (11557) |
|  |  |  |  |  |  | $(63492) |

---

S C H E D U L E O F I N V E S T M E N T S 2

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Sustainable Emerging Markets Equity Fund** |

---

**OTC Total Return Swaps** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Entity* | *Payment<br>Frequency* | *Counterparty<sup>(a)</sup>* | *Termination<br>Date* | *Net Notional* | *Accrued<br>Unrealized*<br> *Appreciation<br>(Depreciation)* | *Net Value of<br>Reference<br>Entity* | *Gross<br>Notional<br>Amount<br>Net Asset<br>Percentage* |
|  Equity Securities Long | Monthly | HSBC Bank PLC<sup>(b)</sup> | 02/13/23 | $1153472 | $11888 <sup>(c)</sup> | $1169073 | 1.2% |
|  | Monthly | JPMorgan Chase Bank N.A.<sup>(d)</sup> | 02/08/23 | 193243 | 17444 <sup>(e)</sup> | 211194 | 0.2 |
|  |  |  |  |  | $29332 | $1380267 |  |

---

<sup>(a)</sup> The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives 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 positions. 

<sup>(c)</sup> Amount includes $(3714) of net dividends and financing fees. 

<sup>(e)</sup> Amount includes $(507) of net dividends and financing fees. 

The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:

---

| | | |
|:---|:---|:---|
|  | (b) | (d) |
| Range: | 95 basis points | 40 basis points |
| Benchmarks: | USD - 1D Overnight Bank Funding Rate (OBFR01) | USD - 1D Overnight Bank Funding Rate (OBFR01) |

---

The following table represents the individual long positions and related values of the equity securities underlying the total return swap with HSBC Bank PLC as of period end, termination date on February 13, 2023:

The following table represents the individual long positions and related values of the equity securities underlying the total return swap with JPMorgan Chase Bank N.A. as of period end, termination date on February 8, 2023:

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
| **United Kingdom** |  |  |  |
|  Leejam Sports Co JSC | 51611 | $1169073 | 100.0% |
|  **Net Value of Reference Entity — HSBC Bank PLC** |  | $1169073 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
| **United Kingdom** |  |  |  |
|  Prudential PLC | 12711 | $211194 | 100.0% |
|  **Net Value of Reference Entity — JPMorgan Chase Bank N.A** | **Net Value of Reference Entity — JPMorgan Chase Bank N.A** | $211194 |  |

---

**Fair Value Hierarchy as of Period End** 

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

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

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

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

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

3.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Sustainable Emerging Markets Equity Fund** |

---

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

Certain investments of the Fund were fair valued using net asset value ("NAV") per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

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;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Austria | $— | $1520725 | $— | $1520725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil | 8883950 |  |  | 8883950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | 9688383 | 20851465 |  | 30539848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Egypt |  | 926934 |  | 926934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greece |  | 1365741 |  | 1365741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong |  | 2933019 |  | 2933019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hungary |  | 1123513 |  | 1123513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India | 94152 | 8843330 |  | 8937482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesia |  | 2345406 |  | 2345406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan |  | 1240501 |  | 1240501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico | 3376338 |  |  | 3376338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Panama | 1265548 |  |  | 1265548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russia |  |  | 305 | 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Africa | 632518 | 2259422 |  | 2891940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea |  | 8959253 |  | 8959253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 879266 | 8855044 |  | 9734310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thailand |  | 1376578 |  | 1376578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates |  | 2200734 |  | 2200734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom |  | 2313320 |  | 2313320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks |  | 267629 |  | 267629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | 1546947 |  |  | 1546947 |
|  | $26367102 | $67382614 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | 93750021 |
|  Investments Valued at NAV<sup>(a)</sup>  |  |  |  | 735970 |
|  |  |  |  | $94485991 |
|  Derivative Financial Instruments<sup>(b)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | $— | $29332 | $— | $29332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts |  | (63492) |  | (63492) |
|  | $— | $(34160) | $— | $(34160) |

---

<sup>(a)</sup> Certain investments of the Fund were fair valued using NAV as a practical expedient as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

<sup>(b)</sup> Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

---

| | |
|:---|:---|
| **Currency Abbreviation** | **Currency Abbreviation** |
| USD | United States Dollar |
| ZAR | South African Rand |
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| JSC | Joint Stock Company |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| NVDR | Non-Voting Depositary Receipt |
| PCL | Public Company Limited |
| PJSC | Public Joint Stock Company |

---

S C H E D U L E O F I N V E S T M E N T S 4

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BLACKROCK FUNDS VII, INC.

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

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

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

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

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

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

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

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

- **a. Name of Series:** BlackRock Sustainable 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:** 2023-04-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $97742669.94

**Total Liabilities:** $2812827.18

**Net Assets:** $94929842.76

**Cash Not Reported:** $20528.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005809 | 14.29%               | -2.99%               | 10.81%               |
| Class ID C000005805 | 14.33%               | -3.04%               | 10.87%               |
| Class ID C000198217 | 14.36%               | -3.03%               | 10.87%               |
| Class ID C000005808 | 14.35%               | -2.99%               | 10.86%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2136909.07             | $13302951.55                               |
| Month 2  | $-912336.65              | $-1914400.24                               |
| Month 3  | $382707.31               | $8811669.18                                |

**Designated Index Information**

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

- **Index Identifier:** NDUEEGF

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| BNP Paribas SA                                           | PURCHASED USD / SOLD ZAR                                | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-1503.25     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| LONGi Green Energy Technology Co Ltd                     | LONGi Green Energy Technology Co Ltd                    | CUSIP: 000000000<br>LEI: 300300NRGAITUP1EZ248 | Long             | EC               | CORP              | CN        |    202910 | NS      | $1454955.55   | 1.53%             |  |  |  | No            | 2                  | On Loan: No      |
| Gold Fields Ltd                                          | Gold Fields Ltd                                         | CUSIP: 000000000<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     60378 | NS      | $688182.14    | 0.72%             |  |  |  | No            | 2                  | On Loan: No      |
| TCS Group Holding PLC                                    | TCS Group Holding PLC                                   | CUSIP: 87238U203<br>LEI: 549300XQRN9MR54V1W18 | Long             | EC               | CORP              | CY        |     30476 | NS      | $304.76       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Axis Bank Ltd                                            | Axis Bank Ltd                                           | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |    160276 | NS      | $1712985.95   | 1.80%             |  |  |  | No            | 2                  | On Loan: No      |
| Shenzhen Inovance Technology Co Ltd                      | Shenzhen Inovance Technology Co Ltd                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    134100 | NS      | $1419357.20   | 1.50%             |  |  |  | No            | 2                  | On Loan: No      |
| HSBC Bank PLC                                            | PURCHASED ZAR / SOLD USD                                | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | ZA        |         1 | NC      | $-15923.04    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| China Merchants Bank Co Ltd                              | China Merchants Bank Co Ltd                             | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |    153900 | NS      | $943613.79    | 0.99%             |  |  |  | No            | 2                  | On Loan: No      |
| Haier Smart Home Co Ltd                                  | Haier Smart Home Co Ltd                                 | CUSIP: 000000000<br>LEI: 3003002BYTNGNJTWSH07 | Long             | EC               | CORP              | CN        |    235800 | NS      | $901398.29    | 0.95%             |  |  |  | No            | 2                  | On Loan: No      |
| Hang Lung Properties Ltd                                 | Hang Lung Properties Ltd                                | CUSIP: 000000000<br>LEI: 529900CIVTNMXQT59E61 | Long             | EC               | CORP              | HK        |    608000 | NS      | $1146411.35   | 1.21%             |  |  |  | No            | 2                  | On Loan: No      |
| Hindustan Unilever Ltd                                   | Hindustan Unilever Ltd                                  | CUSIP: 000000000<br>LEI: 5493007IW5N37IKRPM32 | Long             | EC               | CORP              | IN        |     45549 | NS      | $1437087.72   | 1.51%             |  |  |  | No            | 2                  | On Loan: No      |
| Tencent Holdings Ltd                                     | Tencent Holdings Ltd                                    | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |      2471 | NS      | $120461.25    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | TRS: BlackRock Asian Dragon Fund, Inc. - JPM CFD        | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               |  | US        |     12711 | OU      | $211193.92    | 0.22%             |  |  |  | No            | 2                  | On Loan: No      |
| Samsung Electronics Co Ltd                               | Samsung Electronics Co Ltd                              | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    115375 | NS      | $5746855.16   | 6.05%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank N.A.                                 | PURCHASED USD / SOLD ZAR                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-17817.32    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Tata Consultancy Services Ltd                            | Tata Consultancy Services Ltd                           | CUSIP: 000000000<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |     48749 | NS      | $2012049.34   | 2.12%             |  |  |  | No            | 2                  | On Loan: No      |
| Alibaba Group Holding Ltd                                | Alibaba Group Holding Ltd                               | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     22750 | NS      | $2507050.00   | 2.64%             |  |  |  | No            | 1                  | On Loan: No      |
| OTP Bank Nyrt                                            | OTP Bank Nyrt                                           | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |     37287 | NS      | $1123512.70   | 1.18%             |  |  |  | No            | 2                  | On Loan: No      |
| Copa Holdings SA                                         | Copa Holdings SA                                        | CUSIP: 000000000<br>LEI: 529900BB9UQJV6QQHA59 | Long             | EC               | CORP              | PA        |     13744 | NS      | $1265547.52   | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Iguatemi SA                                              | Iguatemi SA                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    499299 | NS      | $1926849.75   | 2.03%             |  |  |  | No            | 1                  | On Loan: No      |
| National Bank of Greece SA                               | National Bank of Greece SA                              | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | EC               | CORP              | GR        |    287242 | NS      | $1365741.35   | 1.44%             |  |  |  | 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        |    414997 | NS      | $1625563.78   | 1.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Kanzhun Ltd                                              | Kanzhun Ltd                                             | CUSIP: 48553T106<br>LEI: 254900F4ZCBITP7L0251 | Long             | EC               | CORP              | KY        |     44279 | NS      | $1075536.91   | 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        |   3859000 | NS      | $1183431.11   | 1.25%             |  |  |  | No            | 2                  | On Loan: No      |
| HDFC Bank Ltd                                            | HDFC Bank Ltd                                           | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    139592 | NS      | $2746979.20   | 2.89%             |  |  |  | No            | 2                  | On Loan: No      |
| Gold Fields Ltd                                          | Gold Fields Ltd                                         | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     55290 | NS      | $632517.60    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Arezzo Industria e Comercio SA                           | Arezzo Industria e Comercio SA                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    107903 | NS      | $1862045.74   | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Kaspi.KZ JSC                                             | Kaspi.KZ JSC                                            | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |     16875 | NS      | $1240501.11   | 1.31%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank N.A.                                 | PURCHASED ZAR / SOLD USD                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | ZA        |         1 | NC      | $-11557.03    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Bangkok Dusit Medical Services PCL                       | Bangkok Dusit Medical Services PCL                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |   1522500 | NS      | $1376578.50   | 1.45%             |  |  |  | No            | 2                  | On Loan: No      |
| Bank Central Asia Tbk PT                                 | Bank Central Asia Tbk PT                                | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   2047500 | NS      | $1161974.58   | 1.22%             |  |  |  | No            | 2                  | On Loan: No      |
| Hapvida Participacoes e Investimentos S/A                | Hapvida Participacoes e Investimentos S/A               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   2033370 | NS      | $2062891.37   | 2.17%             |  |  |  | No            | 1                  | On Loan: No      |
| China Mengniu Dairy Co Ltd                               | China Mengniu Dairy Co Ltd                              | CUSIP: 000000000<br>LEI: 2549005Q343BSJ8RSS21 | Long             | EC               | CORP              | KY        |    362000 | NS      | $1746241.81   | 1.84%             |  |  |  | No            | 2                  | On Loan: No      |
| Baidu Inc                                                | Baidu Inc                                               | CUSIP: 000000000<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |     55750 | NS      | $937159.59    | 0.99%             |  |  |  | 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        |    211076 | NS      | $1750774.56   | 1.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Aldar Properties PJSC                                    | Aldar Properties PJSC                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |    947139 | NS      | $1127983.99   | 1.19%             |  |  |  | No            | 2                  | On Loan: No      |
| Yum China Holdings Inc                                   | Yum China Holdings Inc                                  | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |     41134 | NS      | $2534265.74   | 2.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Abu Dhabi Commercial Bank PJSC                           | Abu Dhabi Commercial Bank PJSC                          | CUSIP: 000000000<br>LEI: 213800RWVKKIRX1AUH58 | Long             | EC               | CORP              | AE        |    467744 | NS      | $1072750.51   | 1.13%             |  |  |  | No            | 2                  | On Loan: No      |
| BROWN BROTHERS ZAR ZAR OVERNIGHT SWEEP                   | BROWN BROTHERS ZAR                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |        65 | PA      | $3.76         | 0.00%             | 2049-12-31      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| HSBC Bank PLC                                            | TRS: iShares Global Clean Energy ETF CFD-HSC            | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DE               |  | US        |     51611 | OU      | $1169073.44   | 1.23%             |  |  |  | No            | 2                  | On Loan: No      |
| BlackRock Liquidity Funds                                | BlackRock Liquidity Funds: T-Fund, Institutional Shares | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |    390347 | NS      | $390346.59    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| HSBC Bank PLC                                            | PURCHASED USD / SOLD ZAR                                | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |         1 | NC      | $-16690.99    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Standard Chartered PLC                                   | Standard Chartered PLC                                  | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |     98040 | NS      | $823498.10    | 0.87%             |  |  |  | No            | 2                  | On Loan: No      |
| Naspers Ltd                                              | Naspers Ltd                                             | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |      2870 | NS      | $554882.49    | 0.58%             |  |  |  | No            | 2                  | On Loan: No      |
| Samsung SDI Co Ltd                                       | Samsung SDI Co Ltd                                      | CUSIP: 000000000<br>LEI: 9884002AESDO4YW87G32 | Long             | EC               | CORP              | KR        |      3492 | NS      | $1956924.03   | 2.06%             |  |  |  | No            | 2                  | On Loan: No      |
| Xinyi Solar Holdings Ltd                                 | Xinyi Solar Holdings Ltd                                | CUSIP: 000000000<br>LEI: 529900QF7VIH03SB7Q08 | Long             | EC               | CORP              | KY        |   1184000 | NS      | $1540340.19   | 1.62%             |  |  |  | No            | 2                  | On Loan: No      |
| Money Market Series a series of SL Liquidity Series, LLC | SL Liquidity Series, LLC, Money Market Series           | CUSIP: 590204509<br>LEI: 549300I0RQO84VDWQP47 | Long             | STIV             |  | US        |   1121748 | NS      | $1121971.97   | 1.18%             |  |  |  | No            | N/A                | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao                              | B3 SA - Brasil Bolsa Balcao                             | CUSIP: 000000000<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | EC               | CORP              | BR        |    674361 | NS      | $1721671.01   | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Sendas Distribuidora SA                                  | Sendas Distribuidora SA                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    338547 | NS      | $1310491.61   | 1.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Baidu Inc                                                | Baidu Inc                                               | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |     14348 | NS      | $1932388.64   | 2.04%             |  |  |  | No            | 1                  | On Loan: —       |
| Accton Technology Corp                                   | Accton Technology Corp                                  | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |    114000 | NS      | $931639.19    | 0.98%             |  |  |  | No            | 2                  | On Loan: No      |
| Samsung Electronics Co Ltd                               | Samsung Electronics Co Ltd                              | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      1013 | NS      | $1255474.27   | 1.32%             |  |  |  | No            | 2                  | On Loan: No      |
| Commercial International Bank Egypt SAE                  | Commercial International Bank Egypt SAE                 | CUSIP: 000000000<br>LEI: 213800FIIXJAMEVRIH48 | Long             | EC               | CORP              | EG        |    563544 | NS      | $926933.77    | 0.98%             |  |  |  | No            | 2                  | On Loan: No      |
| Alibaba Group Holding Ltd                                | Alibaba Group Holding Ltd                               | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    173692 | NS      | $2388032.13   | 2.52%             |  |  |  | No            | 2                  | On Loan: No      |
| Life Healthcare Group Holdings Ltd                       | Life Healthcare Group Holdings Ltd                      | CUSIP: 000000000<br>LEI: 529900NEEWARTDD80135 | Long             | EC               | CORP              | ZA        |   1035126 | NS      | $1016357.32   | 1.07%             |  |  |  | No            | 2                  | On Loan: No      |
| Haier Smart Home Co Ltd                                  | Haier Smart Home Co Ltd                                 | CUSIP: 000000000<br>LEI: 3003002BYTNGNJTWSH07 | Long             | EC               | CORP              | CN        |    288000 | NS      | $1062178.04   | 1.12%             |  |  |  | No            | 2                  | On Loan: No      |
| Erste Group Bank AG                                      | Erste Group Bank AG                                     | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |     40078 | NS      | $1520724.90   | 1.60%             |  |  |  | No            | 2                  | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                | Taiwan Semiconductor Manufacturing Co Ltd               | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    449000 | NS      | $7923404.92   | 8.35%             |  |  |  | No            | 2                  | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd                | Taiwan Semiconductor Manufacturing Co Ltd               | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      9482 | NS      | $879265.86    | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| ICICI Bank Ltd                                           | ICICI Bank Ltd                                          | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     91312 | NS      | $934228.18    | 0.98%             |  |  |  | No            | 2                  | On Loan: No      |
| ICICI Bank Ltd                                           | ICICI Bank Ltd                                          | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      4520 | NS      | $94151.60     | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| China Merchants Bank Co Ltd                              | China Merchants Bank Co Ltd                             | CUSIP: 000000000<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               | CORP              | CN        |    390000 | NS      | $2529589.54   | 2.66%             |  |  |  | No            | 2                  | On Loan: No      |
| Prudential PLC                                           | Prudential PLC                                          | CUSIP: 000000000<br>LEI: 5493001Z3ZE83NGK8Y12 | Long             | EC               | CORP              | GB        |     89667 | NS      | $1489821.82   | 1.57%             |  |  |  | No            | 2                  | On Loan: No      |
| AIA Group Ltd                                            | AIA Group Ltd                                           | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    158000 | NS      | $1786607.84   | 1.88%             |  |  |  | No            | 2                  | On Loan: No      |
| Tencent Holdings Ltd                                     | Tencent Holdings Ltd                                    | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     49000 | NS      | $2387716.57   | 2.52%             |  |  |  | No            | 2                  | On Loan: No      |
| KE Holdings Inc                                          | KE Holdings Inc                                         | CUSIP: 482497104<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | KY        |     82807 | NS      | $1518680.38   | 1.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd          | Shenzhen Mindray Bio-Medical Electronics Co Ltd         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     40900 | NS      | $2022673.36   | 2.13%             |  |  |  | No            | 2                  | On Loan: No      |
| BlackRock Liquidity Funds                                | BlackRock Liquidity Funds: T-Fund, Institutional Shares | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   1215460 | NS      | $1215460.07   | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Meituan                                                  | Meituan                                                 | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | KY        |     99100 | NS      | $2215467.36   | 2.33%             |  |  |  | No            | 2                  | On Loan: No      |
| BROWN BROTHERS AUD AUD OVERNIGHT SWEEP                   | BROWN BROTHERS AUD                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |        11 | NS      | $7.56         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Samsung Electronics Co Ltd                               | Samsung Electronics Co Ltd                              | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |      5964 | NS      | $267628.96    | 0.28%             |  |  |  | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2023-03-01

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

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer