N-Q 1 d211622dnq.htm BLACKROCK SERIES, INC. BLACKROCK SERIES, INC.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-08797 and 811-09049

Name of Fund: BlackRock Small Cap Growth Fund II of BlackRock Series, Inc.

and BlackRock Master Small Cap Growth Portfolio of BlackRock Master LLC

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Small Cap

Growth Fund II of BlackRock Series, Inc. and BlackRock Master Small Cap Growth Portfolio of

BlackRock Master LLC, 55 East 52nd Street, New York, NY 10055

Registrants’ telephone number, including area code: (800) 441-7762

Date of fiscal year end: 05/31/2017

Date of reporting period: 08/31/2016

Item 1 – Schedule of Investments

 

Schedule of Investments August 31, 2016 (Unaudited)      BlackRock Small Cap Growth Fund II   
     (Percentages shown are based on Net Assets)   

 

Mutual Fund            Value  

BlackRock Master Small Cap Growth Portfolio of BlackRock Master LLC

             $   161,428,811   

Total Investments (Cost — $ 146,420,470) — 100.1%

         161,428,811   

Liabilities in Excess of Other Assets — (0.1)%

         (192,382 ) 
     

 

 

  

Net Assets — 100.0%

       $ 161,236,429   
     

 

 

  

    

 
      Notes to Schedule of Investments

BlackRock Small Cap Growth Fund II (the “Fund”) seeks to achieve its investment objective by investing all of its assets in BlackRock Master Small Cap Growth Portfolio (the “Master Portfolio”) of BlackRock Master LLC, which has the same investment objective and strategies as the Fund. As of period end, the value of the investment and the percentage owned by the Fund of the Master Portfolio was $161,428,811 and 100%, respectively.

The Fund records its investment in the Master Portfolio at fair value. The Fund’s investment in the Master Portfolio is valued pursuant to the pricing policies approved by the Board of Directors of the BlackRock Master LLC.

 

      Fair Value Hierarchy as of Period End

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

 

  •  

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access

 

  •  

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)

 

  •  

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)

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. The significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments are typically categorized as Level 3.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Master Portfolio’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investments 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 investments, refer to the Master Portfolio’s most recent financial statements as contained in its annual report.

As of period end, the Fund’s investment in the Master Portfolio was classified as Level 2.

During the period ended August 31, 2016, there were no transfers between levels.

 

 

     BLACKROCK SERIES, INC.    AUGUST 31, 2016    1

Schedule of Investments August 31, 2016 (Unaudited)      BlackRock Master Small Cap Growth Portfolio   
     (Percentages shown are based on Net Assets)   

 

Common Stocks    Shares      Value  

Aerospace & Defense — 1.2%

      

DigitalGlobe, Inc. (a)

      15,066       $ 408,138   

Engility Holdings, Inc. (a)

      5,126         153,780   

HEICO Corp., Class A

      10,020         569,938   

Vectrus, Inc. (a)

      22,917         773,220   
     

 

 

  
                1,905,076   

Air Freight & Logistics — 0.9%

      

Hub Group, Inc., Class A (a)

      36,615         1,492,061   

Airlines — 0.4%

      

Hawaiian Holdings, Inc. (a)

      15,073         708,130   

Auto Components — 2.4%

      

American Axle & Manufacturing Holdings, Inc. (a)

      22,546         386,438   

Cooper-Standard Holding, Inc. (a)

      8,299         822,016   

Drew Industries, Inc.

      820         83,517   

Horizon Global Corp. (a)

      10,828         192,955   

Lear Corp.

      657         76,403   

Tenneco, Inc. (a)

      29,695         1,657,872   

Tower International, Inc.

      24,932         605,848   
     

 

 

  
                3,825,049   

Banks — 2.8%

      

Bank of the Ozarks, Inc.

      2,040         79,927   

Central Pacific Financial Corp.

      51,251         1,311,513   

Fidelity Southern Corp.

      24,268         435,611   

Great Western Bancorp, Inc.

      1,863         63,789   

Home BancShares, Inc.

      3,159         73,921   

South State Corp.

      9,369         711,950   

Wintrust Financial Corp.

      31,881         1,771,946   
     

 

 

  
                4,448,657   

Beverages — 0.4%

      

National Beverage Corp. (a)

      887         44,110   

Primo Water Corp. (a)

      49,530         573,557   
     

 

 

  
                617,667   

Biotechnology — 8.4%

      

Acceleron Pharma, Inc. (a)

      1,662         49,877   

Achillion Pharmaceuticals, Inc. (a)

      42,201         348,580   

Acorda Therapeutics, Inc. (a)

      7,530         181,322   

Aduro Biotech, Inc. (a)

      9,023         127,134   

Alder Biopharmaceuticals, Inc. (a)

      4,277         141,013   

Amicus Therapeutics, Inc. (a)

      10,450         69,911   

Applied Genetic Technologies Corp. (a)

      8,360         106,841   

Aptevo Therapeutics, Inc. (a)

      5,686         15,466   

Ardelyx, Inc. (a)

      11,104         110,707   

ARIAD Pharmaceuticals, Inc. (a)

      17,494         180,888   

aTyr Pharma, Inc. (a)

      40,357         117,842   

Audentes Therapeutics, Inc. (a)

      50         782   

Avexis, Inc. (a)

      731         25,834   

BioSpecifics Technologies Corp. (a)

      4,505         164,838   

Catalyst Pharmaceuticals, Inc. (a)

      24,838         24,838   

Cepheid, Inc. (a)

      18,054         619,613   

ChemoCentryx, Inc. (a)

      34,391         171,955   

Clovis Oncology, Inc. (a)

      2,786         69,009   

Coherus Biosciences, Inc. (a)

      6,352         189,099   

Concert Pharmaceuticals, Inc. (a)

      10,225         99,387   

Corvus Pharmaceuticals, Inc. (a)

      6,197         84,589   
Common Stocks    Shares      Value  

Biotechnology (continued)

      

Cytokinetics, Inc. (a)

      19,856       $ 239,662   

Dyax Corp. — CVR (a)

      35,077         38,935   

Emergent BioSolutions, Inc. (a)

      11,950         318,467   

Enanta Pharmaceuticals, Inc. (a)

      6,982         153,534   

Enzon Pharmaceuticals, Inc.

      107,723         40,935   

EPIRUS Biopharmaceuticals, Inc. (a)

      12,121         291   

Exact Sciences Corp. (a)

      24,119         445,478   

Exelixis, Inc. (a)

      40,546         452,088   

FibroGen, Inc. (a)

      18,719         324,026   

Five Prime Therapeutics, Inc. (a)

      4,601         202,352   

Flexion Therapeutics, Inc. (a)

      2,652         44,235   

Genomic Health, Inc. (a)

      9,971         263,932   

Halozyme Therapeutics, Inc. (a)

      34,949         342,500   

Ignyta, Inc. (a)

      15,293         84,264   

Immune Design Corp. (a)

      10,534         74,265   

ImmunoGen, Inc. (a)

      8,129         22,842   

Infinity Pharmaceuticals, Inc. (a)

      8,849         13,450   

Insys Therapeutics, Inc. (a)(b)

      13,855         197,711   

Ironwood Pharmaceuticals, Inc. (a)

      36,329         484,629   

Kindred Biosciences, Inc. (a)

      17,201         71,384   

Kite Pharma, Inc. (a)

      4,923         283,663   

Lexicon Pharmaceuticals, Inc. (a)

      20,015         277,808   

Ligand Pharmaceuticals, Inc. (a)

      2,459         254,039   

Lion Biotechnologies, Inc. (a)

      6,278         49,973   

MacroGenics, Inc. (a)

      1,516         45,192   

Merrimack Pharmaceuticals, Inc. (a)

      46,879         216,581   

MiMedx Group, Inc. (a)

      39,893         288,825   

Myriad Genetics, Inc. (a)

      18,323         373,056   

Natera, Inc. (a)

      4,533         45,103   

NewLink Genetics Corp. (a)

      5,913         60,194   

Novavax, Inc. (a)

      33,038         225,980   

Ophthotech Corp. (a)

      7,564         399,455   

OPKO Health, Inc. (a)(b)

      7,406         67,395   

PDL BioPharma, Inc.

      43,082         125,369   

Peregrine Pharmaceuticals, Inc. (a)

      96,697         35,004   

Pfenex, Inc. (a)

      8,818         63,754   

Portola Pharmaceuticals, Inc. (a)

      11,763         239,495   

Prothena Corp. PLC (a)

      3,667         183,277   

PTC Therapeutics, Inc. (a)

      8,659         71,090   

Puma Biotechnology, Inc. (a)

      7,131         421,799   

Radius Health, Inc. (a)

      3,259         178,724   

Raptor Pharmaceutical Corp. (a)

      38,604         287,600   

Repligen Corp. (a)

      11,440         354,526   

Retrophin, Inc. (a)

      8,999         144,164   

Rigel Pharmaceuticals, Inc. (a)

      54,807         184,700   

Sage Therapeutics, Inc. (a)

      1,077         40,032   

Sangamo BioSciences, Inc. (a)

      29,062         124,676   

Sarepta Therapeutics, Inc. (a)

      4,927         128,447   

Seres Therapeutics, Inc. (a)

      1,598         16,731   

Spark Therapeutics, Inc. (a)

      1,090         61,672   

Spectrum Pharmaceuticals, Inc. (a)

      27,302         144,974   

Strongbridge Biopharma PLC (a)

      6,925         32,963   

Synergy Pharmaceuticals, Inc. (a)

      3,760         17,785   

TESARO, Inc. (a)

      3,263         276,343   

Threshold Pharmaceuticals, Inc. (a)

      31,278         33,467   

Trevena, Inc. (a)

      11,651         78,994   

Ultragenyx Pharmaceutical, Inc. (a)

      5,717         376,865   

United Therapeutics Corp. (a)

      780         95,378   
 
      Portfolio Abbreviations
ADR    American Depositary Receipts
CVR    Contingent Value Rights
REIT    Real Estate Investment Trust

 

    

 

     BLACKROCK MASTER LLC    AUGUST 31, 2016    1

Schedule of Investments (continued)      BlackRock Master Small Cap Growth Portfolio   
  

 

Common Stocks    Shares      Value  

Biotechnology (continued)

      

Vanda Pharmaceuticals, Inc. (a)

      14,551       $ 223,794   

vTv Therapeutics, Inc., Class A (a)

      9,148         51,686   

Xencor, Inc. (a)

      10,424         220,259   

ZIOPHARM Oncology, Inc. (a)(b)

      19,262         97,658   
     

 

 

  
                13,612,995   

Building Products — 3.6%

      

Apogee Enterprises, Inc.

      26,724         1,293,442   

Continental Building Products, Inc. (a)

      44,912         997,495   

Gibraltar Industries, Inc. (a)

      5,111         195,036   

Insteel Industries, Inc.

      9,503         316,450   

Masonite International Corp. (a)

      7,286         486,195   

NCI Building Systems, Inc. (a)

      14,643         221,695   

Ply Gem Holdings, Inc. (a)

      1,053         14,710   

Universal Forest Products, Inc.

      20,368         2,223,167   
     

 

 

  
                5,748,190   

Capital Markets — 0.2%

      

BGC Partners, Inc., Class A

      9,357         82,061   

Evercore Partners, Inc., Class A

      4,101         210,135   
     

 

 

  
                292,196   

Chemicals — 3.4%

      

Advanced Emissions Solutions, Inc. (a)

      13,472         99,962   

Chemtura Corp. (a)

      13,467         403,875   

Ferro Corp. (a)

      1,529         20,397   

GCP Applied Technologies, Inc. (a)

      21,380         625,579   

Ingevity Corp. (a)

      1,028         45,623   

Innospec, Inc.

      6,412         380,103   

Koppers Holdings, Inc. (a)

      5,853         191,042   

OMNOVA Solutions, Inc. (a)

      23,785         237,850   

PolyOne Corp.

      35,831         1,235,095   

Sensient Technologies Corp.

      4,015         294,018   

Stepan Co.

      12,735         894,761   

Trinseo SA (a)

      18,766         1,085,801   
     

 

 

  
                5,514,106   

Commercial Services & Supplies — 2.9%

      

ACCO Brands Corp. (a)

      3,011         30,110   

ARC Document Solutions, Inc. (a)

      106,938         361,450   

Casella Waste Systems, Inc., Class A (a)

      4,622         42,014   

Herman Miller, Inc.

      40,104         1,446,551   

InnerWorkings, Inc. (a)

      10,674         94,678   

Knoll, Inc.

      58,060         1,536,268   

Quad/Graphics, Inc.

      719         19,478   

Steelcase, Inc., Class A

      56,918         850,355   

Tetra Tech, Inc.

      7,518         265,385   
     

 

 

  
                4,646,289   

Communications Equipment — 2.2%

      

Calix, Inc. (a)

      15,889         118,214   

Ciena Corp. (a)

      27,703         594,229   

Lumentum Holdings, Inc. (a)

      6,898         242,258   

NETGEAR, Inc. (a)

      11,158         636,006   

ShoreTel, Inc. (a)

      67,001         537,348   

Ubiquiti Networks, Inc. (a)

      26,297         1,351,666   
     

 

 

  
                3,479,721   

Construction & Engineering — 1.0%

      

Comfort Systems U.S.A., Inc.

      43,749         1,242,034   

Dycom Industries, Inc. (a)

      468         37,964   

MasTec, Inc. (a)

      8,901         262,134   
     

 

 

  
                1,542,132   

Construction Materials — 0.1%

      

Summit Materials, Inc., Class A (a)

      6,386         126,060   
Common Stocks    Shares      Value  

Consumer Finance — 0.3%

      

Consumer Portfolio Services, Inc. (a)

      42,433       $ 162,943   

Emergent Capital, Inc. (a)

      64,692         244,536   

Enova International, Inc. (a)

      4,185         40,134   
     

 

 

  
                447,613   

Containers & Packaging — 0.2%

      

Greif, Inc., Class A

      9,256         394,583   

Distributors — 0.6%

      

Core-Mark Holding Co., Inc.

      27,265         1,040,160   

Diversified Consumer Services — 0.3%

      

Collectors Universe, Inc.

      11,457         219,287   

K12, Inc. (a)

      23,684         283,024   

Regis Corp. (a)

      3,741         47,024   
     

 

 

  
                549,335   

Diversified Financial Services — 0.0%

      

Marlin Business Services Corp.

      4,288         80,614   

Diversified Telecommunication Services — 0.4%

      

FairPoint Communications, Inc. (a)

      6,147         85,689   

Inteliquent, Inc.

      34,457         573,364   
     

 

 

  
                659,053   

Electric Utilities — 0.1%

      

Spark Energy, Inc., Class A

      3,706         107,437   

Electrical Equipment — 0.1%

      

Babcock & Wilcox Enterprises, Inc. (a)

      2,039         33,338   

LSI Industries, Inc.

      16,497         167,115   
     

 

 

  
                200,453   

Electronic Equipment, Instruments & Components — 3.9%

  

   

Belden, Inc.

      14,362         1,071,262   

Coherent, Inc. (a)

      2,260         237,707   

Fabrinet (a)

      18,852         731,835   

II-VI, Inc. (a)

      6,027         127,712   

PC Connection, Inc.

      498         12,983   

Sanmina Corp. (a)

      50,227         1,319,966   

SYNNEX Corp.

      11,548         1,226,051   

Tech Data Corp. (a)

      21,794         1,617,987   
     

 

 

  
                6,345,503   

Energy Equipment & Services — 0.2%

      

Aspen Aerogels, Inc. (a)

      10,192         50,043   

Exterran Corp. (a)

      8,235         116,361   

Helix Energy Solutions Group, Inc. (a)

      2,703         20,273   

Matrix Service Co. (a)

      6,395         118,244   

McDermott International, Inc. (a)

      3,592         18,786   

PHI, Inc. (a)

      20         373   

Pioneer Energy Services Corp. (a)

      4,275         14,236   
     

 

 

  
                338,316   

Food & Staples Retailing — 0.2%

      

Performance Food Group Co. (a)

      14,654         376,608   

Food Products — 1.5%

      

Amplify Snack Brands, Inc. (a)

      2,409         40,784   

Cal-Maine Foods, Inc. (b)

      16,631         764,028   

Dean Foods Co.

      73,116         1,258,326   

Fresh Del Monte Produce, Inc.

      5,900         343,203   
     

 

 

  
                2,406,341   

Gas Utilities — 0.2%

      

Southwest Gas Corp.

      3,611         252,120   

Health Care Equipment & Supplies — 6.4%

      

ABIOMED, Inc. (a)

      2,299         271,144   

Cantel Medical Corp.

      10,940         827,173   

Cutera, Inc. (a)

      245         2,671   
 

 

    

 

2    BLACKROCK MASTER LLC    AUGUST 31, 2016     

Schedule of Investments (continued)      BlackRock Master Small Cap Growth Portfolio   
  

 

Common Stocks    Shares      Value  

Health Care Equipment & Supplies (continued)

  

   

Cynosure, Inc., Class A (a)

      11,857       $ 617,631   

Glaukos Corp. (a)

      4,478         133,623   

ICU Medical, Inc. (a)

      6,665         831,592   

Insulet Corp. (a)

      7,451         315,401   

LeMaitre Vascular, Inc.

      3,872         71,167   

Masimo Corp. (a)

      55,272         3,268,786   

Neogen Corp. (a)

      4,350         256,911   

NuVasive, Inc. (a)

      15,391         1,007,649   

NxStage Medical, Inc. (a)

      15,752         360,091   

Orthofix International NV (a)

      5,123         231,098   

RTI Surgical, Inc. (a)

      126,218         405,160   

SeaSpine Holdings Corp. (a)

      19,080         198,241   

SurModics, Inc. (a)

      7,113         202,507   

West Pharmaceutical Services, Inc.

      15,616         1,277,857   
     

 

 

  
                10,278,702   

Health Care Providers & Services — 2.3%

      

Alliance HealthCare Services, Inc. (a)

      6,635         41,801   

American Renal Associates Holdings, Inc. (a)

      4,760         101,055   

AMN Healthcare Services, Inc. (a)

      22,727         823,399   

BioTelemetry, Inc. (a)

      12,131         224,060   

CorVel Corp. (a)

      1,049         40,324   

Diplomat Pharmacy, Inc. (a)

      8,163         255,420   

Five Star Quality Care, Inc. (a)

      61,307         129,971   

HealthSouth Corp.

      3,796         154,535   

Surgical Care Affiliates, Inc. (a)

      12,314         507,953   

U.S. Physical Therapy, Inc.

      8,639         544,689   

WellCare Health Plans, Inc. (a)

      8,222         926,619   
     

 

 

  
                3,749,826   

Health Care Technology — 0.5%

      

Cotiviti Holdings, Inc. (a)

      3,981         132,328   

Imprivata, Inc. (a)

      11         211   

Medidata Solutions, Inc. (a)

      5,544         299,930   

Omnicell, Inc. (a)

      5,579         209,659   

Press Ganey Holdings, Inc. (a)

      1,161         46,777   

Vocera Communications, Inc. (a)

      7,685         125,265   
     

 

 

  
                814,170   

Hotels, Restaurants & Leisure — 4.7%

      

BJ’s Restaurants, Inc. (a)

      1,088         43,215   

Bloomin’ Brands, Inc.

      16,325         318,991   

Bravo Brio Restaurant Group, Inc. (a)

      14,337         67,384   

Carrols Restaurant Group, Inc. (a)

      50,645         681,682   

Century Casinos, Inc. (a)

      5,926         37,867   

Cheesecake Factory, Inc.

      28,021         1,440,560   

Cracker Barrel Old Country Store, Inc.

      1,965         298,896   

Dave & Buster’s Entertainment, Inc. (a)

      9,570         444,527   

Denny’s Corp. (a)

      19,311         201,800   

Intrawest Resorts Holdings, Inc. (a)

      16,786         250,447   

Isle of Capri Casinos, Inc. (a)

      31,501         546,542   

J. Alexander’s Holdings, Inc. (a)

      24,854         247,794   

Papa John’s International, Inc.

      8,559         640,470   

Red Rock Resorts, Inc., Class A

      4,169         93,969   

Ruth’s Hospitality Group, Inc.

      3,183         47,618   

Scientific Games Corp., Class A (a)

      11,717         96,665   

Texas Roadhouse, Inc.

      1,735         76,808   

Vail Resorts, Inc.

      12,630         2,000,971   
     

 

 

  
                7,536,206   

Household Durables — 1.3%

      

Ethan Allen Interiors, Inc.

      1,907         63,808   

Installed Building Products, Inc. (a)

      16,873         563,221   

La-Z-Boy, Inc.

      23,012         613,730   

TopBuild Corp. (a)

      19,122         652,443   
Common Stocks    Shares      Value  

Household Durables (continued)

      

ZAGG, Inc. (a)

      34,152       $ 248,285   
     

 

 

  
                2,141,487   

Household Products — 0.1%

      

Central Garden & Pet Co. (a)

      5,871         150,767   

Central Garden & Pet Co., Class A (a)

      3,785         91,786   
     

 

 

  
                242,553   

Insurance — 0.3%

      

CNO Financial Group, Inc.

      3,592         58,370   

State National Cos., Inc.

      10,732         109,144   

Universal Insurance Holdings, Inc.

      10,991         272,357   
     

 

 

  
                439,871   

Internet & Catalog Retail — 0.3%

      

Liberty TripAdvisor Holdings, Inc., Class A (a)

      6,888         143,339   

Overstock.com, Inc. (a)

      1,039         16,011   

Shutterfly, Inc. (a)

      5,858         294,189   
     

 

 

  
                453,539   

Internet Software & Services — 5.1%

      

Bankrate, Inc. (a)

      21,942         172,025   

Brightcove, Inc. (a)

      6,588         84,919   

Carbonite, Inc. (a)

      12,243         170,912   

Cvent, Inc. (a)

      5,509         180,034   

EarthLink Holdings Corp.

      154,964         987,121   

Everyday Health, Inc. (a)

      6,685         51,207   

Five9, Inc. (a)

      11,454         171,695   

GrubHub, Inc. (a)

      535         21,705   

IntraLinks Holdings, Inc. (a)

      4,891         46,660   

Limelight Networks, Inc. (a)

      112,423         200,113   

LogMeIn, Inc.

      23,654         1,975,109   

NIC, Inc.

      52,420         1,204,612   

QuinStreet, Inc. (a)

      194,009         593,668   

Shutterstock, Inc. (a)

      2,765         160,315   

Stamps.com, Inc. (a)

      239         23,116   

Support.com, Inc. (a)

      31,119         26,451   

Web.com Group, Inc. (a)

      58,703         1,024,954   

Wix.com Ltd. (a)

      16,436         687,353   

XO Group, Inc. (a)

      24,815         462,552   
     

 

 

  
                8,244,521   

IT Services — 2.4%

      

Convergys Corp.

      15,441         460,605   

CSG Systems International, Inc.

      5,400         236,088   

Datalink Corp. (a)

      31,340         305,252   

Euronet Worldwide, Inc. (a)

      13,569         1,053,090   

Everi Holdings, Inc. (a)

      31,398         66,250   

Hackett Group, Inc.

      19,368         316,667   

Lionbridge Technologies, Inc. (a)

      21,257         103,522   

Net 1 UEPS Technologies, Inc. (a)

      30,251         295,552   

Travelport Worldwide Ltd.

      15,759         216,371   

Unisys Corp. (a)

      74,261         750,036   
     

 

 

  
                3,803,433   

Leisure Products — 0.8%

      

Brunswick Corp.

      13,788         634,110   

Johnson Outdoors, Inc., Class A

      3,260         109,699   

MCBC Holdings, Inc.

      915         10,925   

Nautilus, Inc. (a)

      23,307         542,820   
     

 

 

  
                1,297,554   

Life Sciences Tools & Services — 1.2%

      

Cambrex Corp. (a)

      2,960         126,777   

Harvard Bioscience, Inc. (a)

      37,642         102,010   

INC Research Holdings, Inc., Class A (a)

      11,267         491,579   

PAREXEL International Corp. (a)

      11,953         813,163   
 

 

    

 

     BLACKROCK MASTER LLC    AUGUST 31, 2016    3

Schedule of Investments (continued)      BlackRock Master Small Cap Growth Portfolio   
  

 

Common Stocks    Shares      Value  

Life Sciences Tools & Services (continued)

      

PRA Health Sciences, Inc. (a)

      7,631       $ 385,747   
     

 

 

  
                1,919,276   

Machinery — 3.3%

      

Briggs & Stratton Corp.

      6,853         130,276   

Commercial Vehicle Group, Inc. (a)

      18,240         98,314   

Global Brass & Copper Holdings, Inc.

      28,440         798,311   

Greenbrier Cos., Inc.

      12,037         407,934   

Hyster-Yale Materials Handling, Inc.

      1,128         58,351   

John Bean Technologies Corp.

      19,601         1,346,197   

Luxfer Holdings PLC — ADR

      68,975         814,595   

Lydall, Inc. (a)

      374         17,967   

Mueller Water Products, Inc., Class A

      26,786         323,843   

SPX Corp. (a)

      4,955         93,848   

SPX FLOW, Inc. (a)

      5,526         162,520   

Supreme Industries, Inc., Class A

      11,570         199,467   

Wabash National Corp. (a)

      43,838         611,540   

Watts Water Technologies, Inc., Class A

      4,156         267,646   
     

 

 

  
                5,330,809   

Media — 0.7%

      

Carmike Cinemas, Inc. (a)

      2,929         93,992   

Entercom Communications Corp., Class A

      9,874         135,373   

Harte-Hanks, Inc.

      57,209         92,679   

Nexstar Broadcasting Group, Inc., Class A

      2,011         106,020   

Sinclair Broadcast Group, Inc., Class A

      25,203         717,781   

tronc, Inc.

      2,959         50,155   
     

 

 

  
                1,196,000   

Metals & Mining — 0.6%

      

Coeur Mining, Inc. (a)

      23,169         295,173   

Ryerson Holding Corp. (a)

      3,585         43,343   

Worthington Industries, Inc.

      13,962         598,970   
     

 

 

  
                937,486   

Multiline Retail — 0.6%

      

Big Lots, Inc.

      18,328         903,937   

Multi-Utilities — 0.2%

      

Avista Corp.

      6,196         251,681   

Oil, Gas & Consumable Fuels — 1.4%

      

Callon Petroleum Co. (a)

      20,376         296,471   

Carrizo Oil & Gas, Inc. (a)

      12,630         483,603   

Eclipse Resources Corp. (a)

      18,506         63,105   

EP Energy Corp., Class A (a)

      11,158         45,971   

Evolution Petroleum Corp.

      11,626         65,919   

Gener8 Maritime, Inc. (a)

      1,123         5,626   

Matador Resources Co. (a)

      21,140         485,163   

Oasis Petroleum, Inc. (a)

      32,391         307,067   

Overseas Shipholding Group, Inc., Class A

      7,315         79,295   

Sanchez Energy Corp. (a)

      3,293         28,287   

SemGroup Corp., Class A

      2,179         67,767   

Western Refining, Inc.

      13,762         346,252   
     

 

 

  
                2,274,526   

Paper & Forest Products — 0.2%

      

Boise Cascade Co. (a)

      11,665         306,090   

Louisiana-Pacific Corp. (a)

      3,402         66,271   
     

 

 

  
                372,361   

Personal Products — 0.2%

      

Avon Products, Inc.

      16,916         96,421   

Medifast, Inc.

      5,484         201,647   

Natural Health Trends Corp. (b)

      1,235         39,693   
     

 

 

  
                337,761   
Common Stocks    Shares      Value  

Pharmaceuticals — 3.4%

      

Catalent, Inc. (a)

      7,426       $ 187,358   

Durata Therapeutics, Inc. — CVR (a)

      1,930         309   

Heska Corp. (a)

      4,096         223,519   

Horizon Pharma PLC (a)

      24,055         452,234   

Impax Laboratories, Inc. (a)

      10,554         255,301   

Innoviva, Inc.

      21,669         240,309   

Intersect ENT, Inc. (a)

      1,475         23,246   

Juniper Pharmaceuticals, Inc. (a)

      23,913         131,761   

Pacira Pharmaceuticals, Inc. (a)

      7,325         290,290   

Prestige Brands Holdings, Inc. (a)

      59,882         2,882,121   

SciClone Pharmaceuticals, Inc. (a)

      63,393         638,367   

Sucampo Pharmaceuticals, Inc., Class A (a)

      21,652         237,306   
     

 

 

  
                5,562,121   

Professional Services — 1.9%

      

Insperity, Inc.

      23,329         1,529,216   

Kforce, Inc.

      46,000         890,100   

RPX Corp. (a)

      58,771         615,332   
     

 

 

  
                3,034,648   

Real Estate Investment Trusts (REITs) — 4.9%

      

American Assets Trust, Inc.

      4,041         179,016   

Chatham Lodging Trust

      23,307         483,154   

Chesapeake Lodging Trust

      25,057         638,452   

CoreSite Realty Corp.

      9,913         773,412   

DCT Industrial Trust, Inc.

      6,136         298,885   

DuPont Fabros Technology, Inc.

      4,513         191,351   

FelCor Lodging Trust, Inc.

      5,541         39,396   

First Industrial Realty Trust, Inc.

      15,952         458,939   

InfraREIT, Inc. (a)

      14,442         272,954   

National Storage Affiliates Trust

      17,485         355,120   

PS Business Parks, Inc.

      29,185         3,233,114   

Retail Opportunity Investments Corp.

      12,087         269,661   

RLJ Lodging Trust

      22,310         520,715   

Ryman Hospitality Properties, Inc.

      2,794         150,764   

Summit Hotel Properties, Inc.

      7,495         107,179   
     

 

 

  
                7,972,112   

Real Estate Management & Development — 0.7%

      

Altisource Portfolio Solutions SA (a)

      2,787         90,800   

AV Homes, Inc. (a)

      2,413         36,605   

Marcus & Millichap, Inc. (a)

      30,126         784,782   

RE/MAX Holdings, Inc., Class A

      1,122         46,720   

RMR Group, Inc., Class A

      2,773         106,899   
     

 

 

  
                1,065,806   

Road & Rail — 0.2%

      

ArcBest Corp.

      1,225         22,430   

YRC Worldwide, Inc. (a)

      21,151         245,140   
     

 

 

  
                267,570   

Semiconductors & Semiconductor Equipment — 4.7%

      

Acacia Communications, Inc. (a)(b)

      1,412         157,650   

Advanced Energy Industries, Inc. (a)

      909         39,951   

Advanced Micro Devices, Inc. (a)

      158,282         1,171,287   

Alpha & Omega Semiconductor Ltd. (a)

      25,847         544,596   

Amkor Technology, Inc. (a)

      48,042         437,182   

Cirrus Logic, Inc. (a)

      5,638         286,129   

Entegris, Inc. (a)

      15,063         256,673   

MaxLinear, Inc., Class A (a)

      26,703         511,896   

Microsemi Corp. (a)

      34,305         1,370,828   

Power Integrations, Inc.

      6,248         364,883   

Rudolph Technologies, Inc. (a)

      3         53   

Semtech Corp. (a)

      35,945         956,137   

Synaptics, Inc. (a)

      503         28,656   
 

 

 

4    BLACKROCK MASTER LLC    AUGUST 31, 2016     

Schedule of Investments (continued)      BlackRock Master Small Cap Growth Portfolio   
  

 

Common Stocks    Shares      Value  

Semiconductors & Semiconductor Equipment (continued)

  

   

Tessera Technologies, Inc.

      41,974       $ 1,407,808   
     

 

 

  
                7,533,729   

Software — 7.3%

      

A10 Networks, Inc. (a)

      65,553         645,697   

Aspen Technology, Inc. (a)

      47,451         2,157,122   

AVG Technologies NV (a)

      10,029         249,321   

Barracuda Networks, Inc. (a)

      2,729         63,313   

CommVault Systems, Inc. (a)

      804         41,438   

Ellie Mae, Inc. (a)

      8,927         873,685   

Exa Corp. (a)

      10,347         164,310   

Fleetmatics Group PLC (a)

      8,009         479,499   

Gigamon, Inc. (a)

      26,976         1,192,339   

Manhattan Associates, Inc. (a)

      35,388         2,141,682   

MicroStrategy, Inc., Class A (a)

      3,562         594,106   

Mitek Systems, Inc. (a)

      12,709         98,749   

Monotype Imaging Holdings, Inc.

      23,881         503,889   

Proofpoint, Inc. (a)

      9,865         759,112   

Rubicon Project, Inc. (a)

      3,109         26,427   

Silver Spring Networks, Inc. (a)

      5,832         79,607   

Synchronoss Technologies, Inc. (a)

      1,777         74,190   

Take-Two Interactive Software, Inc. (a)

      28,163         1,224,246   

TiVo, Inc. (a)

      17,292         183,468   

Zix Corp. (a)

      48,143         183,425   
     

 

 

  
                11,735,625   

Specialty Retail — 2.6%

      

Aaron’s, Inc. (a)

      21,544         524,812   

American Eagle Outfitters, Inc.

      25,089         465,150   

Asbury Automotive Group, Inc. (a)

      7,048         378,619   

Burlington Stores, Inc. (a)

      8,075         655,851   

Chico’s FAS, Inc.

      23,363         296,243   

Children’s Place, Inc.

      4,613         375,498   

Express, Inc. (a)

      32,956         389,869   

Group 1 Automotive, Inc.

      5,833         346,130   

Haverty Furniture Cos., Inc.

      9,098         181,960   

New York & Co., Inc. (a)

      15,380         34,605   

Outerwall, Inc.

      3,250         168,870   

Sonic Automotive, Inc., Class A

      15,701         267,545   

Tile Shop Holdings, Inc. (a)

      5,145         80,005   

TravelCenters of America LLC (a)

      11,527         78,384   
     

 

 

  
                4,243,541   

Technology Hardware, Storage & Peripherals — 0.1%

      

Quantum Corp. (a)

      377,776         242,230   

Textiles, Apparel & Luxury Goods — 0.9%

      

Columbia Sportswear Co.

      887         49,823   

Culp, Inc.

      33,155         1,051,345   

Oxford Industries, Inc.

      5,223         325,967   
     

 

 

  
                1,427,135   

Thrifts & Mortgage Finance — 0.7%

      

Essent Group Ltd. (a)

      1,118         29,716   

EverBank Financial Corp.

      3         58   

First Defiance Financial Corp.

      4,638         210,983   

Flagstar Bancorp, Inc. (a)

      30,449         855,008   

HomeStreet, Inc. (a)

      1,546         40,289   
     

 

 

  
                1,136,054   

Trading Companies & Distributors — 0.6%

      

Beacon Roofing Supply, Inc. (a)

      14,899         685,056   

GMS, Inc. (a)

      4,898         119,854   

Neff Corp., Class A (a)

      9,938         93,318   

SiteOne Landscape Supply, Inc. (a)

      4,069         155,599   
     

 

 

  
                1,053,827   
Common Stocks    Shares      Value  

Water Utilities — 0.0%

      

California Water Service Group

      2       $ 61   

Wireless Telecommunication Services — 0.0%

      

Leap Wireless International, Inc. — CVR (a)

      3,374         10,712   

Total Common Stocks — 98.5%

               158,967,335   
     
Preferred Stocks                

Household Durables — 0.0%

      

AliphCom:

      

Series 6 (Acquired 6/03/14,
cost $0) (a)(c)

      2,066         —   

Series 8 (Acquired 8/31/15,
cost $294,992) (a)(c)

      49,410         —   
     

 

 

  
                —   

Software — 0.8%

      

Illumio Inc., Series C (Acquired 3/10/15, cost $250,317) (a)(c)

      77,790         223,257   

MongoDB:

      

Series C (Acquired 12/19/13,
cost $379,504) (a)(c)

      15,128         308,006   

Series D (Acquired 12/19/13,
cost $118,056) (a)(c)

      4,706         95,814   

Series E (Acquired 12/19/13,
cost $4,168) (a)(c)

      166         3,380   

Palantir Technologies, Inc., Series I (Acquired
2/06/14, cost $500,000) (a)(c)

      81,566         748,776   
     

 

 

  
                1,379,233   

Total Preferred Stocks — 0.8%

  

      1,379,233   

Total Long-Term Investments

(Cost — $145,336,312) — 99.3%

  

  

      160,346,568   
     
Short-Term Securities    Shares          

BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.21% (d)(e)

      1,202,300         1,202,300   
      Beneficial
Interest
(000)		          

BlackRock Liquidity Series, LLC, Money Market
Series, 0.65% (d)(e)(f)

    $ 1,441         1,440,571   

Total Short-Term Securities

(Cost — $2,642,871) — 1.7%

  

  

      2,642,871   

Total Investments (Cost — $147,979,183*) — 101.0%

  

      162,989,439   

Liabilities in Excess of Other Assets — (1.0)%

  

      (1,560,628 ) 
     

 

 

  

Net Assets — 100.0%

       $ 161,428,811   
     

 

 

  
 

 

 

     BLACKROCK MASTER LLC    AUGUST 31, 2016    5

Schedule of Investments (continued)      BlackRock Master Small Cap Growth Portfolio   

 

      Notes to Schedule of Investments

 

* As of August 31, 2016, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

    $ 149,882,947   
  

 

 

  

Gross unrealized appreciation

    $ 22,409,629   

Gross unrealized depreciation

      (9,303,137 ) 
  

 

 

  

Net unrealized appreciation

    $ 13,106,492   
  

 

 

  

 

(a) Non-income producing security.

 

(b) Security, or a portion of security, is on loan.

 

(c) Restricted security as to resale, excluding 144A securities. As of period end, the Master Portfolio held restricted securities with a current value of $1,379,233 and an original cost of $1,547,037, which was 0.9% of its net assets.

 

(d) Current yield as of period end.

 

(e) During the period ended August 31, 2016, investments in issuers considered to be affiliates of the Master Portfolio for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate    Shares/
Beneficial
Interest
Held at
May  31,
2016		      Net
Activity		    

Shares/
Beneficial
Interest

Held at
August 31,
2016

      Value at
August 31,
2016		      Income  

BlackRock Liquidity Funds, TempFund, Institutional Class

      1,508,954         (1,508,954 )      —         —       $ 1,284   

BlackRock Liquidity Funds, T-Fund, Institutional Class

      —         1,202,300        1,202,300       $ 1,202,300         7   

BlackRock Liquidity Series, LLC, Money Market Series

    $ 1,600,704       $ (160,133 )    $ 1,440,571         1,440,571         49,688 1 

Total

            $ 2,642,871       $ 50,979   
          

 

 

  

 

  1   

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.

 

(f) Security was purchased with the cash collateral from loaned securities. The Master Portfolio may withdraw up to 25% of its investment daily, although the manager of the BlackRock Liquidity Series, LLC, Money Market Series, in its sole discretion, may permit an investor to withdraw more than 25% on any one day.

 

•  

For Master Portfolio compliance purposes, the Master Portfolio’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

 

      Derivative Financial Instruments Outstanding as of Period End

      Futures Contracts

 

Contracts
Long		     Issue     Expiration     Notional
Value		     Unrealized
Depreciation		  
  11        Russell 2000 Mini Index        September 2016      $ 1,362,680        $(1,915)   

 

      Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative 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:

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Master Portfolio has the ability to access

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 derivative financial instruments)

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Master Portfolio’s own assumptions used in determining the fair value of investments and derivative 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. The significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments are typically categorized as Level 3.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Master Portfolio’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and

 

6    BLACKROCK MASTER LLC    AUGUST 31, 2016     

Schedule of Investments (continued)      BlackRock Master Small Cap Growth Portfolio   

 

derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Master Portfolio’s policy regarding valuation of investments and derivative financial instruments, refer to the Master Portfolio’s most recent financial statements as contained in its annual report.

The following tables summarize the Master Portfolio’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

      Level 1      Level 2      Level 3      Total  

Assets:

            

Investments:

            

Long-Term Investments:

            

Common Stocks:

            

Aerospace & Defense

    $ 1,905,076         —         —       $ 1,905,076   

Air Freight & Logistics

      1,492,061         —         —         1,492,061   

Airlines

      708,130         —         —         708,130   

Auto Components

      3,825,049         —         —         3,825,049   

Banks

      4,448,657         —         —         4,448,657   

Beverages

      617,667         —         —         617,667   

Biotechnology

      13,574,060         —       $ 38,935         13,612,995   

Building Products

      5,748,190         —         —         5,748,190   

Capital Markets

      292,196         —         —         292,196   

Chemicals

      5,514,106         —         —         5,514,106   

Commercial Services & Supplies

      4,646,289         —         —         4,646,289   

Communications Equipment

      3,479,721         —         —         3,479,721   

Construction & Engineering

      1,542,132         —         —         1,542,132   

Construction Materials

      126,060         —         —         126,060   

Consumer Finance

      447,613         —         —         447,613   

Containers & Packaging

      394,583         —         —         394,583   

Distributors

      1,040,160         —         —         1,040,160   

Diversified Consumer Services

      549,335         —         —         549,335   

Diversified Financial Services

      80,614         —         —         80,614   

Diversified Telecommunication Services

      659,053         —         —         659,053   

Electric Utilities

      107,437         —         —         107,437   

Electrical Equipment

      200,453         —         —         200,453   

Electronic Equipment, Instruments & Components

      6,345,503         —         —         6,345,503   

Energy Equipment & Services

      338,316         —         —         338,316   

Food & Staples Retailing

      376,608         —         —         376,608   

Food Products

      2,406,341         —         —         2,406,341   

Gas Utilities

      252,120         —         —         252,120   

Health Care Equipment & Supplies

      10,278,702         —         —         10,278,702   

Health Care Providers & Services

      3,749,826         —         —         3,749,826   

Health Care Technology

      814,170         —         —         814,170   

Hotels, Restaurants & Leisure

      7,536,206         —         —         7,536,206   

Household Durables

      2,141,487         —         —         2,141,487   

Household Products

      242,553         —         —         242,553   

Insurance

      439,871         —         —         439,871   

Internet & Catalog Retail

      453,539         —         —         453,539   

Internet Software & Services

      8,244,521         —         —         8,244,521   

IT Services

      3,803,433         —         —         3,803,433   

Leisure Products

      1,297,554         —         —         1,297,554   

Life Sciences Tools & Services

      1,919,276         —         —         1,919,276   

Machinery

      5,330,809         —         —         5,330,809   

Media

      1,196,000         —         —         1,196,000   

Metals & Mining

      937,486         —         —         937,486   

Multiline Retail

      903,937         —         —         903,937   

Multi-Utilities

      251,681         —         —         251,681   

Oil, Gas & Consumable Fuels

      2,274,526         —         —         2,274,526   

Paper & Forest Products

      372,361         —         —         372,361   

Personal Products

      337,761         —         —         337,761   

Pharmaceuticals

      5,561,812         —         309         5,562,121   

Professional Services

      3,034,648         —         —         3,034,648   

Real Estate Investment Trusts (REITs)

      7,972,112         —         —         7,972,112   

Real Estate Management & Development

      1,065,806         —         —         1,065,806   

Road & Rail

      267,570         —         —         267,570   

 

 

     BLACKROCK MASTER LLC    AUGUST 31, 2016    7

Schedule of Investments (concluded)      BlackRock Master Small Cap Growth Portfolio   

 

      Level 1   Level 2   Level 3    Total

Semiconductors & Semiconductor Equipment

      $ 7,533,729         —         —        $ 7,533,729  

Software

        11,735,625         —         —          11,735,625  

Specialty Retail

        4,243,541         —         —          4,243,541  

Technology Hardware, Storage & Peripherals

        242,230         —         —          242,230  

Textiles, Apparel & Luxury Goods

        1,427,135         —         —          1,427,135  

Thrifts & Mortgage Finance

        1,136,054         —         —          1,136,054  

Trading Companies & Distributors

        1,053,827         —         —          1,053,827  

Water Utilities

        61         —         —          61  

Wireless Telecommunication Services

        —         —       $ 10,712          10,712  

Preferred Stocks

        —         —         1,379,233          1,379,233  

Short-Term Securities

        1,202,300       $ 1,440,571         —          2,642,871  
    

 

 

  

Total

      $ 160,119,679       $ 1,440,571       $ 1,429,189        $ 162,989,439  
    

 

 

  
                 

Derivative Financial Instruments1

                                          

Liabilities:

                  

Equity contracts

      $ (1,915 )       —         —        $ (1,915 )
    

 

 

  

1    Derivative financial instruments are futures contracts, which are valued at the unrealized appreciation (depreciation) on the instrument.

       

The Master Portfolio may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:    
                 
      Level 1   Level 2   Level 3    Total

Assets:

                  

Cash

      $ 15,217         —         —        $ 15,217  

Cash pledged for futures contracts

        77,200         —         —          77,200  

Liabilities:

                  

Collateral on securities loaned at value

        —       $ (1,440,571 )       —          (1,440,571 )
    

 

 

  

Total

      $ 92,417       $ (1,440,571 )       —        $ (1,348,154 )
    

 

 

  

During the period ended August 31, 2016, there were no transfers between levels.

 

 

8    BLACKROCK MASTER LLC    AUGUST 31, 2016     

Item 2 – Controls and Procedures

 

2(a) –    The registrants’ principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants’ disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.
2(b) –    There were no changes in the registrants’ internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants’ last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants’ internal control over financial reporting.
Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, each registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BlackRock Small Cap Growth Fund II of BlackRock Series, Inc. and BlackRock Master Small Cap Growth Portfolio of BlackRock Master LLC

 

By:   /s/ John M. Perlowski                  
  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock Small Cap Growth Fund II of BlackRock Series, Inc. and BlackRock Master Small Cap Growth Portfolio of BlackRock Master LLC

Date: October 21, 2016

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of each registrant and in the capacities and on the dates indicated.

 

By:   /s/ John M. Perlowski                  
  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock Small Cap Growth Fund II of BlackRock Series, Inc. and BlackRock Master Small Cap Growth Portfolio of BlackRock Master LLC

Date: October 21, 2016

 

By:   /s/ Neal J. Andrews                      
  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of
  BlackRock Small Cap Growth Fund II of BlackRock Series, Inc. and BlackRock Master Small Cap Growth Portfolio of BlackRock Master LLC

Date: October 21, 2016