# EDGAR Filing Document

**Accession Number:** 0000887509
**File Stem:** 0000940400-25-005418
**Filing Date:** 2025-10
**Character Count:** 37118
**Document Hash:** a803313fe8e7e73962b6629c05a3b03c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-005418.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0000940400-25-005418

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250829

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20260531

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06669
- **FILM NUMBER:** 251419574

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

## Nport-Ex

Schedule of Investments (unaudited)

August 31, 2025

**BlackRock Capital Appreciation Fund, Inc.**

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

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

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 2.8%** | **Aerospace & Defense — 2.8%** | **Aerospace & Defense — 2.8%** |
| Axon Enterprise, Inc.<sup>(a)</sup> | 67717 | $50604237 |
| TransDigm Group, Inc. | 39317 | 54999765 |
|  |  | 105604002 |
| **Automobiles — 3.9%** | **Automobiles — 3.9%** | **Automobiles — 3.9%** |
| Ferrari NV | 150502 | 71821059 |
| Tesla, Inc.<sup>(a)</sup> | 226179 | 75514383 |
|  |  | 147335442 |
| **Broadline Retail — 9.0%** | **Broadline Retail — 9.0%** | **Broadline Retail — 9.0%** |
| Amazon.com, Inc.<sup>(a)</sup> | 1488655 | 340901995 |
| **Building Products — 1.6%** | **Building Products — 1.6%** | **Building Products — 1.6%** |
| Trane Technologies PLC | 145207 | 60348029 |
| **Capital Markets — 4.1%** | **Capital Markets — 4.1%** | **Capital Markets — 4.1%** |
| Blue Owl Capital, Inc., Class A | 1567425 | 29028711 |
| KKR & Co., Inc., Class A | 581329 | 81089582 |
| S&P Global, Inc. | 82903 | 45467322 |
|  |  | 155585615 |
| **Chemicals — 0.7%** | **Chemicals — 0.7%** | **Chemicals — 0.7%** |
| Sherwin-Williams Co. (The) | 69235 | 25328240 |
| **Entertainment — 5.5%** | **Entertainment — 5.5%** | **Entertainment — 5.5%** |
| Netflix, Inc.<sup>(a)</sup> | 102174 | 123451735 |
| Spotify Technology SA<sup>(a)</sup> | 125260 | 85412289 |
|  |  | 208864024 |
| **Financial Services — 5.3%** | **Financial Services — 5.3%** | **Financial Services — 5.3%** |
| Adyen NV<sup>(a)(b)</sup> | 28753 | 48281203 |
| Visa, Inc., Class A | 432656 | 152199728 |
|  |  | 200480931 |
| **Health Care Equipment & Supplies — 2.9%** | **Health Care Equipment & Supplies — 2.9%** | **Health Care Equipment & Supplies — 2.9%** |
| Boston Scientific Corp.<sup>(a)</sup> | 450820 | 47561510 |
| Intuitive Surgical, Inc.<sup>(a)</sup> | 129151 | 61126523 |
|  |  | 108688033 |
| **Hotels, Restaurants & Leisure — 1.1%** | **Hotels, Restaurants & Leisure — 1.1%** | **Hotels, Restaurants & Leisure — 1.1%** |
| Hilton Worldwide Holdings, Inc. | 154857 | 42749823 |
| **Interactive Media & Services — 6.9%** | **Interactive Media & Services — 6.9%** | **Interactive Media & Services — 6.9%** |
| Meta Platforms, Inc., Class A<sup>(c)</sup> | 352481 | 260377715 |
| **IT Services — 0.4%** | **IT Services — 0.4%** | **IT Services — 0.4%** |
| Shopify, Inc., Class A<sup>(a)</sup> | 120442 | 17016046 |
| **Life Sciences Tools & Services — 1.0%** | **Life Sciences Tools & Services — 1.0%** | **Life Sciences Tools & Services — 1.0%** |
| Danaher Corp. | 178991 | 36839928 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Charter Communications, Inc., Class A<sup>(a)(c)</sup> | 8558 | 2272834 |
| **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** |
| Eli Lilly & Co. | 128965 | 94477180 |
| **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** |
| CoStar Group, Inc.<sup>(a)</sup> | 210013 | 18794063 |
| **Semiconductors & Semiconductor Equipment — 22.4%** | **Semiconductors & Semiconductor Equipment — 22.4%** | **Semiconductors & Semiconductor Equipment — 22.4%** |
| ASM International NV | 49251 | 23648867 |
| ASML Holding NV, Registered Shares | 22504 | 16711920 |
| Broadcom, Inc. | 782368 | 232668420 |
| NVIDIA Corp. | 2878552 | 501386187 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., <br> ADR<br>| 315401 | 72816629 |
|  |  | 847232023 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Software — 18.6%** | **Software — 18.6%** | **Software — 18.6%** |
| AppLovin Corp., Class A<sup>(a)</sup> | 192782 | $92263537 |
| Cadence Design Systems, Inc.<sup>(a)</sup> | 214928 | 75317219 |
| Fair Isaac Corp.<sup>(a)</sup> | 22967 | 34947506 |
| Intuit, Inc. | 163003 | 108723001 |
| Microsoft Corp. | 778422 | 394418643 |
|  |  | 705669906 |
| **Specialty Retail — 1.6%** | **Specialty Retail — 1.6%** | **Specialty Retail — 1.6%** |
| Carvana Co., Class A<sup>(a)</sup> | 160519 | 59700226 |
| **Technology Hardware, Storage & Peripherals — 6.2%** | **Technology Hardware, Storage & Peripherals — 6.2%** | **Technology Hardware, Storage & Peripherals — 6.2%** |
| Apple Inc. | 1015146 | 235655992 |
| **Total Common Stocks — 97.1%** <br>**(Cost: $1,497,388,527)** | **Total Common Stocks — 97.1%** <br>**(Cost: $1,497,388,527)** | 3673922047 |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Preferred Stocks — 2.9%** | **Preferred Stocks — 2.9%** | **Preferred Stocks — 2.9%** |
| **Interactive Media & Services — 1.1%** | **Interactive Media & Services — 1.1%** | **Interactive Media & Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Bytedance Ltd., Series E-1, (Acquired 11/11/20, <br> cost $19,426,516)<sup>(a)(d)(e)</sup><br>| 177291 | 42707629 |
| **Software — 1.8%** | **Software — 1.8%** | **Software — 1.8%** |
| Databricks, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (Acquired 03/27/25, cost <br> $34,703,225)<sup>(a)(d)(e)</sup><br>| 375170 | 53405450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series J, (Acquired 01/21/25, cost <br> $10,208,947)<sup>(a)(d)(e)</sup><br>| 110367 | 15710742 |
|  |  | 69116192 |
| **Total Preferred Securities — 2.9%** <br>**(Cost: $64,338,688)** | **Total Preferred Securities — 2.9%** <br>**(Cost: $64,338,688)** | 111823821 |
| **Total Long-Term Investments — 100.0%** <br>**(Cost: $1,561,727,215)** | **Total Long-Term Investments — 100.0%** <br>**(Cost: $1,561,727,215)** | 3785745868 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 3.0%** | **Money Market Funds — 3.0%** | **Money Market Funds — 3.0%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 4.44%<sup>(f)(g)(h)</sup><br>| 106947516 | 107000990 |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional <br> Shares, 4.16%<sup>(f)(g)</sup><br>| 6415753 | 6415753 |
| **Total Short-Term Securities — 3.0%** <br>**(Cost: $113,406,221)** | **Total Short-Term Securities — 3.0%** <br>**(Cost: $113,406,221)** | 113416743 |
| **Total Investments — 103.0%** <br>**(Cost: $1,675,133,436)** | **Total Investments — 103.0%** <br>**(Cost: $1,675,133,436)** | 3899162611 |
| **Liabilities in Excess of Other Assets — (3.0)%** | **Liabilities in Excess of Other Assets — (3.0)%** | (114454461)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $3784708150 |

---

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

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

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

<sup>(c)</sup> All or a portion of this security is on loan.

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

<sup>(e)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $111,823,821, representing 3.0% of its net assets as of period end, and an original cost of $64,338,688. 

<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. 

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Capital Appreciation Fund, Inc.**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended August 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*05/31/25*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain* <br>*(Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*08/31/25*<br>| *Shares* <br>*Held at* <br>*08/31/25*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash <br> Funds: Institutional, SL Agency <br> Shares<br>| &nbsp;&nbsp; $19432275<br>&nbsp;&nbsp; $87555051 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $3142 | &nbsp;&nbsp; $10522 | &nbsp;&nbsp; $107000990 | &nbsp;&nbsp; 106947516 | &nbsp;&nbsp; $17600 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, <br> T-Fund, Institutional Shares<br>| &nbsp;&nbsp; 5447738<br>&nbsp;&nbsp; 968015 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6415753 | &nbsp;&nbsp; 6415753 | &nbsp;&nbsp; 94392 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $3142 | &nbsp;&nbsp; $10522 | &nbsp;&nbsp; $113416743 |  | &nbsp;&nbsp; $111992 | &nbsp;&nbsp; $— |

---

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

<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 collateral investment fees, and other payments to and from borrowers of securities. 

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

**Fair Value Hierarchy as of Period End**

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

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

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

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

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

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp; $105604002 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $105604002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobiles | &nbsp;&nbsp; 147335442 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 147335442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp; 340901995 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 340901995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp; 60348029 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 60348029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp; 155585615 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 155585615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp; 25328240 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 25328240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp; 208864024 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 208864024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp; 152199728 | &nbsp;&nbsp; 48281203 | &nbsp;&nbsp; — | &nbsp;&nbsp; 200480931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp; 108688033 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 108688033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp; 42749823 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 42749823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp; 260377715 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 260377715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp; 17016046 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 17016046 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Capital Appreciation Fund, Inc.**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp; $36839928 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $36839928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp; 2272834 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2272834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp; 94477180 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 94477180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp; 18794063 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 18794063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 823583156 | &nbsp;&nbsp; 23648867 | &nbsp;&nbsp; — | &nbsp;&nbsp; 847232023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp; 705669906 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 705669906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp; 59700226 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 59700226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 235655992 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 235655992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities  | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 111823821 | &nbsp;&nbsp; 111823821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 113416743 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 113416743 |
|  | &nbsp;&nbsp; $3715408720 | &nbsp;&nbsp; $71930070 | &nbsp;&nbsp; $111823821 | &nbsp;&nbsp; $3899162611 |

---

A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

---

| | |
|:---|:---|
|  | *Preferred* <br>*Securities*<br>|
| **Assets** |  |
| Opening Balance, as of May 31, 2025 | &nbsp;&nbsp; $89765134 |
| Transfers into Level 3 | &nbsp;&nbsp; — |
| Transfers out of Level 3 | &nbsp;&nbsp; — |
| Accrued discounts/premiums | &nbsp;&nbsp; — |
| Net realized gain (loss) | &nbsp;&nbsp; — |
| Net change in unrealized appreciation (depreciation)<sup>(a)</sup> | &nbsp;&nbsp; 22058687 |
| Purchases | &nbsp;&nbsp; — |
| Sales | &nbsp;&nbsp; — |
| Closing Balance, as of August 31, 2025 | &nbsp;&nbsp; $111823821 |
| Net change in unrealized appreciation (depreciation) on investments still held at August 31, 2025<sup>(a)</sup> | &nbsp;&nbsp; $22058687 |

---

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>

Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at August 31, 2025, is generally due to investments no longer held or categorized as Level 3 at period end.

The following table summarizes the valuation approaches used and unobservable inputs utilized by the Valuation Committee to determine the value of certain of the Fund's Level 3 financial instruments as of period end.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Value* | *Valuation Approach* | &nbsp;&nbsp;&nbsp; *Unobservable* <br>*Inputs*<br>| &nbsp;&nbsp;&nbsp; *Range of* <br>*Unobservable Inputs* <br>*Utilized*<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; *Weighted Average of* <br>*Unobservable Inputs* <br>*Based on Fair Value*<br>|
| **Assets** |  |  |  |  |  |
| Preferred Securities | &nbsp;&nbsp; $111823821 | Market | Revenue Multiple | 1.50x - 25.00x | 16.02x |

---

&nbsp;&nbsp;&nbsp;&nbsp;<sup>(a)</sup>

A significant change in unobservable input could result in a correlated or inverse change in value.

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| ADR | American Depositary Receipt |

---

------

## 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 Capital Appreciation Fund, Inc.

- **b. Investment Company Act file number:** 811-06669

- **c. CIK number of Registrant:** 0000887509

- **d. LEI of Registrant:** 549300QS6NT0JK4H2706

- **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 Fund, Inc.

- **b. EDGAR series identifier (if any):** S000002520

- **c. LEI of Series:** 549300QS6NT0JK4H2706

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-08-29

**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:** $3897198841.48

**Total Liabilities:** $111225129.98

**Net Assets:** $3785973711.50

**Cash Not Reported:** $6142257.95

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006952 | 7.17%                | 2.29%                | -0.16%               |
| Class ID C000006954 | 7.16%                | 2.20%                | -0.25%               |
| Class ID C000006955 | 7.20%                | 2.30%                | -0.11%               |
| Class ID C000006956 | 7.19%                | 2.23%                | -0.17%               |
| Class ID C000088417 | 7.21%                | 2.29%                | -0.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $155080007.38            | $103009952.58                              |
| Month 2  | $63974430.25             | $24206319.57                               |
| Month 3  | $24830544.61             | $-29354666.44                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Trane Technologies PLC               | Trane Technologies PLC                    | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |    145207 | NS      | $60348029.20  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                         | Broadcom Inc                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    782672 | NS      | $232758826.08 | 6.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                           | Ferrari NV                                | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | IT        |    150502 | NS      | $71821059.42  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM International NV                 | ASM International NV                      | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |     49251 | NS      | $23648866.47  | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| DATABRICKS INC                       | DATABRICKS INC                            | CUSIP: 000000000<br>LEI: 984500FEDAC7FBD96273 | Long             | EC               | CORP              | US        |    375170 | NS      | $53405449.50  | 1.41%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Intuitive Surgical Inc               | Intuitive Surgical Inc                    | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |    129308 | NS      | $61200829.86  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                     | CoStar Group Inc                          | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |    161586 | NS      | $14460331.14  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds T-Fund     | BlackRock Liquidity Funds T-Fund          | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        |    268657 | NS      | $268657.36    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BYTEDANCE LTD                        | BYTEDANCE LTD                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | KY        |    177291 | NS      | $42707628.99  | 1.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AppLovin Corp                        | AppLovin Corp                             | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |    193047 | NS      | $92390363.73  | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp               | Boston Scientific Corp                    | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    450820 | NS      | $47561510.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                             | VISA INC-CLASS A SHARES                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    433177 | NS      | $152383005.06 | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                 | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    315785 | NS      | $72905282.95  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                          | Netflix Inc                               | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    102304 | NS      | $123608808.00 | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Adyen NV                             | Adyen NV                                  | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |     26454 | NS      | $44420789.51  | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| TransDigm Group Inc                  | TransDigm Group Inc                       | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39365 | NS      | $55066911.20  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                         | KKR & Co Inc                              | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |    584746 | NS      | $81566219.54  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc        | Hilton Worldwide Holdings Inc             | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |    154857 | NS      | $42749823.42  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                          | NVIDIA Corp                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   2882189 | NS      | $502019680.02 | 13.26%            |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                           | INTUIT INC                                | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |    163232 | NS      | $108875744.00 | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                   | Meta Platforms Inc                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    352481 | NS      | $260377714.70 | 6.88%             |  |  |  | No            |                  1 | On Loan: —       |
| SHERWIN-WILLIAMS CO/THE              | SHERWIN-WILLIAMS CO/THE                   | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     69235 | NS      | $25328240.05  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                           | Carvana Co                                | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |    160519 | NS      | $59700226.48  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                            | Tesla Inc                                 | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    226455 | NS      | $75606530.85  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                            | Apple Inc                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   1015532 | NS      | $235745598.48 | 6.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                      | Fair Isaac Corp                           | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |     22967 | NS      | $34947505.88  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc           | Charter Communications Inc                | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      8558 | NS      | $2272833.64   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| BlackRock Cash Funds - Institutional | BlackRock Cash Funds - Institutional      | CUSIP: 066922519<br>LEI: 549300JDHS1T46VWOG19 | Long             | STIV             | RF                | US        | 106405461 | NS      | $106458663.60 | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital Inc                 | Blue Owl Capital Inc                      | CUSIP: 09581B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1567425 | NS      | $29028711.00  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                      | ASML Holding NV                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     22504 | NS      | $16711920.48  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P GLOBAL INC                       | S&P GLOBAL INC                            | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     82903 | NS      | $45467321.32  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                          | Shopify Inc                               | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |    120442 | NS      | $17016045.76  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc           | Cadence Design Systems Inc                | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |    215189 | NS      | $75408681.27  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                  | Axon Enterprise Inc                       | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |     67717 | NS      | $50604236.93  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DATABRICKS INC                       | DATABRICKS INC                            | CUSIP: 000000000<br>LEI: 984500FEDAC7FBD96273 | Long             | EC               | CORP              | US        |    110367 | NS      | $15710742.45  | 0.41%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Danaher Corp                         | Danaher Corp                              | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    178991 | NS      | $36839927.62  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                       | MICROSOFT CORP                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    779032 | NS      | $394727724.08 | 10.43%            |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                       | AMAZON.COM INC                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   1490748 | NS      | $341381292.00 | 9.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                | Spotify Technology SA                     | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |    125260 | NS      | $85412288.80  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                       | Eli Lilly & Co                            | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    129640 | NS      | $94971671.20  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** BlackRock Capital Appreciation Fund, Inc.

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer