Schedule

of

Investments

(unaudited)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

2

(Percentages

shown

are

based

on

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Asset-Backed

Securities

ACE

Securities

Corp.

Home

Equity

Loan

Trust,

Series

2007-HE4,

Class

A2A,

(1-mo.

CME

Term

SOFR

+

0.37%),

5.69%,

05/25/37

(a)

.

USD

43

$

7,328

Argent

Mortgage

Loan

Trust,

Series

2005-W1,

Class

A2,

(1-mo.

CME

Term

SOFR

at

0.24%

Floor

+

0.59%),

5.91%,

05/25/35

(a)

.....

50

43,858

BCMSC

Trust

(a)

Series

2000-A,

Class

A3,

7.83%,

06/15/30

49

5,981

Series

2000-A,

Class

A4,

8.29%,

06/15/30

35

4,557

Bear

Stearns

Asset-Backed

Securities

I

Trust

(a)

Series

2004-HE7,

Class

M2,

(1-mo.

CME

Term

SOFR

+

1.84%),

7.16%,

08/25/34

—

(b)

367

Series

2007-HE2,

Class

22A,

(1-mo.

CME

Term

SOFR

+

0.25%),

5.57%,

03/25/37

11

9,646

Series

2007-HE2,

Class

23A,

(1-mo.

CME

Term

SOFR

+

0.25%),

5.57%,

03/25/37

16

14,045

Series

2007-HE3,

Class

1A3,

(1-mo.

CME

Term

SOFR

+

0.36%),

5.68%,

04/25/37

30

43,526

Carrington

Mortgage

Loan

Trust,

Series

2006-

NC4,

Class

A3,

(1-mo.

CME

Term

SOFR

at

0.16%

Floor

and

12.50%

Cap

+

0.27%),

5.59%,

10/25/36

(a)

................

27

26,239

Citigroup

Mortgage

Loan

Trust

(a)

Series

2007-AHL2,

Class

A3B,

(1-mo.

CME

Term

SOFR

at

0.20%

Floor

+

0.31%),

5.63%,

05/25/37

...............

136

87,440

Series

2007-AHL2,

Class

A3C,

(1-mo.

CME

Term

SOFR

at

0.27%

Floor

+

0.38%),

5.70%,

05/25/37

...............

62

39,653

Conseco

Finance

Securitizations

Corp.,

Series

2000-5,

Class

A6,

7.96%,

05/01/31

.....

36

10,165

Countrywide

Asset-Backed

Certificates,

Series

2006-SPS1,

Class

A,

(1-mo.

CME

Term

SOFR

+

0.33%),

5.65%,

12/25/25

(a)

....

—

(b)

583

Credit

Suisse

First

Boston

Mortgage

Securities

Corp.,

Series

2001-MH29,

Class

B1,

8.10%,

09/25/31

(a)

.....................

11

11,165

CWHEQ

Home

Equity

Loan

Trust

Series

2006-S3,

Class

A4,

5.56%,

01/25/29

(c)

...................

1

1,971

Series

2006-S5,

Class

A5,

6.16%,

06/25/35

2

1,964

CWHEQ

Revolving

Home

Equity

Loan

Resuritization

Trust

(a)(d)

Series

2006-RES,

Class

4Q1B,

(1-mo.

CME

Term

SOFR

at

16.00%

Cap

+

0.41%),

5.75%,

12/15/33

...............

2

1,943

Series

2006-RES,

Class

5B1A,

(1-mo.

CME

Term

SOFR

at

16.00%

Cap

+

0.30%),

5.64%,

05/15/35

...............

2

1,772

CWHEQ

Revolving

Home

Equity

Loan

Trust

(a)

Series

2005-B,

Class

2A,

(1-mo.

CME

Term

SOFR

at

16.00%

Cap

+

0.29%),

5.63%,

05/15/35

....................

3

2,529

Series

2006-H,

Class

1A,

(1-mo.

CME

Term

SOFR

at

16.00%

Cap

+

0.26%),

5.60%,

11/15/36

....................

5

5,328

First

Franklin

Mortgage

Loan

Trust,

Series

2006-FFH1,

Class

M2,

(1-mo.

CME

Term

SOFR

at

0.40%

Floor

+

0.71%),

6.03%,

01/25/36

(a)

.....................

41

34,940

GSAMP

Trust

(a)

Series

2007-H1,

Class

A1B,

(1-mo.

CME

Term

SOFR

at

0.20%

Floor

+

0.51%),

5.83%,

01/25/47

...............

21

10,404

Security

Par

(000)

Par

(000)

Value

Asset-Backed

Securities

(continued)

Series

2007-HS1,

Class

M6,

(1-mo.

CME

Term

SOFR

at

2.25%

Floor

+

3.49%),

8.81%,

02/25/47

...............

USD

25

$

23,237

Home

Equity

Asset

Trust,

Series

2007-1,

Class

2A3,

(1-mo.

CME

Term

SOFR

+

0.41%),

5.73%,

05/25/37

(a)

................

29

21,939

IXIS

Real

Estate

Capital

Trust,

Series

2007-

HE1,

Class

A4,

(1-mo.

CME

Term

SOFR

at

0.23%

Floor

+

0.34%),

5.66%,

05/25/37

(a)

612

144,656

Lehman

ABS

Manufactured

Housing

Contract

Trust

Series

2001-B,

Class

M1,

6.63%,

04/15/40

(a)

40

40,155

Series

2002-A,

Class

C,

0.00%,

06/15/33

4

3,240

Long

Beach

Mortgage

Loan

Trust

(a)

Series

2006-5,

Class

2A3,

(1-mo.

CME

Term

SOFR

at

0.30%

Floor

+

0.41%),

5.73%,

06/25/36

....................

20

9,479

Series

2006-7,

Class

2A3,

(1-mo.

CME

Term

SOFR

at

0.16%

Floor

+

0.43%),

5.75%,

08/25/36

....................

13

4,921

Merrill

Lynch

First

Franklin

Mortgage

Loan

Trust,

Series

2007-2,

Class

A2C,

(1-mo.

CME

Term

SOFR

+

0.59%),

5.91%,

05/25/37

(a)

.....................

17

12,456

Morgan

Stanley

ABS

Capital

I,

Inc.

Trust,

Series

2005-HE1,

Class

A2MZ,

(1-mo.

CME

Term

SOFR

at

0.30%

Floor

+

0.71%),

6.03%,

12/25/34

(a)

................

78

68,924

Oakwood

Mortgage

Investors,

Inc.,

Series

2001-D,

Class

A4,

6.93%,

09/15/31

(a)

...

8

4,213

Option

One

Mortgage

Loan

Trust

Series

2007-CP1,

Class

2A3,

(1-mo.

CME

Term

SOFR

at

0.21%

Floor

+

0.32%),

5.64%,

03/25/37

(a)

..............

40

31,906

Series

2007-FXD1,

Class

2A1,

5.87%,

01/25/37

(c)

...................

30

23,508

Series

2007-FXD2,

Class

1A1,

5.82%,

03/25/37

(c)

...................

33

28,165

Origen

Manufactured

Housing

Contract

Trust,

Series

2007-B,

Class

A1,

(1-mo.

LIBOR

USD

at

1.20%

Floor

and

18.00%

Cap

+

1.20%),

6.65%,

10/15/37

(a)

(d)

.........

8

7,616

Ownit

Mortgage

Loan

Trust,

Series

2006-2,

Class

A2C,

6.50%,

01/25/37

(c)

........

25

21,213

SG

Mortgage

Securities

Trust,

Series

2006-

FRE2,

Class

A2C,

(1-mo.

CME

Term

SOFR

at

0.16%

Floor

+

0.43%),

5.75%,

07/25/36

(a)

16

3,192

Total

Asset-Backed

Securities

—

0

.2

%

(Cost:

$

1,077,107

)

..............................

814,224

Shares

Shares

Common

Stocks

Aerospace

&

Defense

—

0.2%

BAE

Systems

plc

...................

12,337

149,917

Embraer

SA

(e)

.....................

4,605

15,812

Saab

AB,

Class

B

..................

7,358

374,490

Textron,

Inc.

......................

84

6,564

Thales

SA

........................

1,261

177,225

724,008

Air

Freight

&

Logistics

—

0.1%

CJ

Logistics

Corp.

..................

3,297

197,360

FedEx

Corp.

......................

265

70,204

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

3

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Air

Freight

&

Logistics

(continued)

Nippon

Express

Holdings,

Inc.

..........

2,600

$

135,667

403,231

Automobile

Components

—

0.1%

Apollo

Tyres

Ltd.

...................

2,766

12,257

Fuyao

Glass

Industry

Group

Co.

Ltd.,

Class

H

(d)

(f)

.........................

13,200

60,381

Hankook

Tire

&

Technology

Co.

Ltd.

......

1,543

45,134

HL

Mando

Co.

Ltd.

..................

1,832

57,016

Hyundai

Mobis

Co.

Ltd.

...............

215

38,265

Lear

Corp.

.......................

960

128,832

Valeo

SE

........................

1,631

27,988

Visteon

Corp.

(e)

....................

37

5,109

374,982

Automobiles

—

2.1%

BYD

Co.

Ltd.,

Class

A

................

54,800

1,793,767

BYD

Co.

Ltd.,

Class

H

...............

2,000

61,621

Ford

Motor

Co.

....................

41,593

516,585

General

Motors

Co.

.................

60,463

1,993,465

Mercedes-Benz

Group

AG

.............

28,715

1,998,471

Tata

Motors

Ltd.

....................

1,021

7,723

Tesla,

Inc.

(e)

.......................

9,707

2,428,885

8,800,517

Banks

—

3.7%

ABN

AMRO

Bank

NV,

CVA

(d)

(f)

..........

5,704

80,612

AU

Small

Finance

Bank

Ltd.

(d)

(f)

.........

719

6,154

Banco

Bilbao

Vizcaya

Argentaria

SA

......

113,564

919,065

Banco

Bradesco

SA

.................

3,121

7,842

Banco

do

Brasil

SA

.................

1,811

17,024

Bancolombia

SA

...................

4,068

30,998

Bank

Hapoalim

BM

.................

4,609

41,064

Bank

of

America

Corp.

...............

93,708

2,565,725

Bank

of

Nova

Scotia

(The)

(g)

...........

3,039

136,215

Bank

Polska

Kasa

Opieki

SA

...........

4,536

104,309

BAWAG

Group

AG

(d)

(f)

................

6,136

280,452

Canadian

Imperial

Bank

of

Commerce

....

4,551

175,674

China

Merchants

Bank

Co.

Ltd.,

Class

H

...

51,000

211,732

Citigroup,

Inc.

.....................

24,260

997,814

Commonwealth

Bank

of

Australia

........

166

10,603

DBS

Group

Holdings

Ltd.

.............

7,000

171,918

DNB

Bank

ASA

....................

58,607

1,177,519

Erste

Group

Bank

AG

................

1,558

53,808

Grupo

Financiero

Banorte

SAB

de

CV,

Class

O

33,791

283,222

HDFC

Bank

Ltd.

...................

13,343

244,709

ICICI

Bank

Ltd.

....................

3,196

36,616

IndusInd

Bank

Ltd.

..................

4,995

85,627

ING

Groep

NV

.....................

151,085

1,991,311

Israel

Discount

Bank

Ltd.,

Class

A

.......

1,961

10,629

JPMorgan

Chase

&

Co.

..............

2,039

295,696

KakaoBank

Corp.

..................

294

5,088

KBC

Group

NV

....................

228

14,195

Mediobanca

Banca

di

Credito

Finanziario

SpA

12,909

170,194

Mitsubishi

UFJ

Financial

Group,

Inc.

......

89,300

756,742

Mizuho

Financial

Group,

Inc.

...........

44,900

762,310

National

Australia

Bank

Ltd.

............

34,540

641,213

Societe

Generale

SA

................

21,566

521,846

Standard

Chartered

plc

...............

5,429

49,933

State

Bank

of

India

..................

1,666

11,967

Swedbank

AB,

Class

A

...............

84,800

1,558,743

UniCredit

SpA

.....................

22,959

547,030

Wells

Fargo

&

Co.

..................

2,562

104,683

Westpac

Banking

Corp.

..............

9,802

132,499

15,212,781

Security

Shares

Shares

Value

Beverages

—

1.5%

Ambev

SA

.......................

108,782

$

283,936

Anadolu

Efes

Biracilik

ve

Malt

Sanayii

A/S,

Class

A

.......................

24,240

93,447

Arca

Continental

SAB

de

CV

...........

3,350

30,519

China

Resources

Beer

Holdings

Co.

Ltd.

...

4,000

21,850

Coca-Cola

Co.

(The)

................

41,694

2,334,030

Coca-Cola

Femsa

SAB

de

CV

..........

14,835

115,871

Coca-Cola

Icecek

A/S

................

598

8,603

Kirin

Holdings

Co.

Ltd.

...............

38,400

537,617

Molson

Coors

Beverage

Co.,

Class

B

.....

1,684

107,085

PepsiCo,

Inc.

.....................

13,968

2,366,738

Pernod

Ricard

SA

..................

2,983

496,640

Tsingtao

Brewery

Co.

Ltd.,

Class

H

.......

2,000

16,286

6,412,622

Biotechnology

—

0.9%

AbbVie,

Inc.

......................

7,752

1,155,513

Alkermes

plc

(e)

.....................

283

7,927

Amgen,

Inc.

......................

2,543

683,457

BeiGene

Ltd.

(e)

....................

900

12,417

Biogen,

Inc.

(e)

.....................

87

22,360

BioMarin

Pharmaceutical,

Inc.

(e)

.........

631

55,831

Celltrion,

Inc.

......................

427

44,061

CSL

Ltd.

.........................

1,182

190,424

Genmab

A/S

(e)

.....................

600

212,430

Gilead

Sciences,

Inc.

................

3,209

240,482

Incyte

Corp.

(e)

.....................

2,784

160,832

Innovent

Biologics,

Inc.

(d)

(e)

(f)

............

26,000

126,289

Moderna,

Inc.

(e)

....................

125

12,911

Neurocrine

Biosciences,

Inc.

(e)

..........

1,415

159,188

Regeneron

Pharmaceuticals,

Inc.

(e)

.......

275

226,314

Shanghai

Junshi

Biosciences

Co.

Ltd.,

Class

H

(d)

(e)

(f)

........................

12,600

28,058

Vertex

Pharmaceuticals,

Inc.

(e)

..........

1,195

415,549

3,754,043

Broadline

Retail

—

2.4%

Alibaba

Group

Holding

Ltd.

(e)

...........

83,400

904,238

Amazon.com,

Inc.

(e)

.................

50,474

6,416,255

eBay,

Inc.

........................

44,690

1,970,382

Etsy,

Inc.

(e)

.......................

4,872

314,634

JD.com,

Inc.,

Class

A

................

8,850

128,757

MercadoLibre,

Inc.

(e)

.................

27

34,233

Pan

Pacific

International

Holdings

Corp.

...

300

6,296

Poya

International

Co.

Ltd.

............

1,010

15,090

Shinsegae,

Inc.

....................

196

27,576

9,817,461

Building

Products

—

0.1%

Johnson

Controls

International

plc

.......

1,074

57,147

Owens

Corning

....................

453

61,794

Trane

Technologies

plc

...............

2,380

482,926

601,867

Capital

Markets

—

1.5%

Bank

of

New

York

Mellon

Corp.

(The)

.....

8,322

354,933

Deutsche

Bank

AG

(Registered)

.........

9,614

105,661

Macquarie

Group

Ltd.

................

10,750

1,151,197

Moody's

Corp.

.....................

6,330

2,001,356

MSCI,

Inc.

(g)

......................

385

197,536

Nasdaq,

Inc.

......................

748

36,346

S&P

Global,

Inc.

...................

6,088

2,224,616

XP,

Inc.,

Class

A

...................

4,424

101,973

6,173,618

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

4

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Chemicals

—

0.6%

Asian

Paints

Ltd.

...................

2,156

$

81,946

BASF

SE

........................

4,777

216,231

Croda

International

plc

...............

469

28,014

DuPont

de

Nemours,

Inc.

.............

1,252

93,387

Ecolab,

Inc.

......................

534

90,460

Jinan

Acetate

Chemical

Co.

Ltd.

.........

2,090

71,557

KCC

Corp.

.......................

276

50,328

Lanxess

AG

......................

200

5,056

LG

Chem

Ltd.

.....................

857

313,779

Nitto

Denko

Corp.

..................

1,200

78,690

Novozymes

A/S,

Class

B

..............

13,531

544,418

RPM

International,

Inc.

...............

153

14,506

Shanghai

Putailai

New

Energy

Technology

Co.

Ltd.,

Class

A

....................

28,430

114,315

Sherwin-Williams

Co.

(The)

............

786

200,469

Solvay

SA

........................

1,998

220,798

Sumitomo

Chemical

Co.

Ltd.

...........

74,100

201,546

Supreme

Industries

Ltd.

..............

241

11,961

2,337,461

Commercial

Services

&

Supplies

—

0.2%

Republic

Services,

Inc.

...............

2,169

309,104

Tetra

Tech,

Inc.

....................

2,223

337,963

647,067

Communications

Equipment

—

0.3%

Accton

Technology

Corp.

.............

2,000

30,684

Arcadyan

Technology

Corp.

............

7,000

35,173

BYD

Electronic

International

Co.

Ltd.

......

5,000

22,715

Cisco

Systems,

Inc.

.................

12,034

646,948

Zhongji

Innolight

Co.

Ltd.,

Class

A

.......

4,400

70,307

ZTE

Corp.,

Class

A

.................

70,100

315,047

1,120,874

Construction

&

Engineering

—

0.8%

AECOM

.........................

19,329

1,605,080

Daewoo

Engineering

&

Construction

Co.

Ltd.

(e)

10,563

32,888

Eiffage

SA

.......................

1,137

107,921

EMCOR

Group,

Inc.

.................

3,248

683,347

JGC

Holdings

Corp.

.................

1,700

23,621

Samsung

Engineering

Co.

Ltd.

(e)

.........

1,768

39,563

Stantec,

Inc.

......................

12,293

797,631

Worley

Ltd.

.......................

5,658

62,820

3,352,871

Consumer

Finance

—

0.4%

American

Express

Co.

...............

8,719

1,300,788

Bajaj

Finance

Ltd.

..................

175

16,415

Lufax

Holding

Ltd.,

ADR

..............

2,005

2,125

Synchrony

Financial

.................

16,377

500,645

1,819,973

Consumer

Staples

Distribution

&

Retail

—

1.5%

Aeon

Co.

Ltd.

.....................

800

15,846

Avenue

Supermarts

Ltd.

(d)

(e)

(f)

...........

144

6,360

BIM

Birlesik

Magazalar

A/S

............

7,506

75,090

Cia

Brasileira

de

Distribuicao

(e)

..........

9,257

6,501

Empire

Co.

Ltd.,

Class

A

..............

3,077

83,707

Kroger

Co.

(The)

...................

7,266

325,153

Lawson,

Inc.

......................

13,900

639,021

Metro,

Inc.

.......................

2,917

151,493

Migros

Ticaret

A/S,

Class

A

............

27,190

362,157

Shoprite

Holdings

Ltd.

...............

3,282

41,574

Sysco

Corp.

......................

549

36,261

Target

Corp.

......................

5,545

613,111

Tesco

plc

........................

56,663

182,256

Tsuruha

Holdings,

Inc.

...............

10,900

732,158

Security

Shares

Shares

Value

Consumer

Staples

Distribution

&

Retail

(continued)

Wal-Mart

de

Mexico

SAB

de

CV

.........

1,455

$

5,492

Walmart,

Inc.

......................

17,592

2,813,489

Woolworths

Group

Ltd.

...............

533

12,761

6,102,430

Containers

&

Packaging

—

0.0%

AptarGroup,

Inc.

...................

1,027

128,416

Diversified

Consumer

Services

—

0.0%

New

Oriental

Education

&

Technology

Group,

Inc.

(e)

.........................

5,100

30,182

Service

Corp.

International

............

171

9,771

YDUQS

Participacoes

SA

.............

10,277

40,502

80,455

Diversified

Telecommunication

Services

—

0.2%

Deutsche

Telekom

AG

(Registered)

......

21,775

456,770

Koninklijke

KPN

NV

.................

20,120

66,289

Nippon

Telegraph

&

Telephone

Corp.

.....

427,700

506,241

Tata

Communications

Ltd.

.............

305

7,087

1,036,387

Electric

Utilities

—

0.6%

Acciona

SA

.......................

938

119,459

Centrais

Eletricas

Brasileiras

SA

.........

1,288

9,425

CPFL

Energia

SA

...................

27,434

184,638

Enel

SpA

........................

253,110

1,552,259

Energisa

SA

......................

2,497

23,268

Iberdrola

SA

......................

16,115

180,237

NextEra

Energy,

Inc.

................

2,325

133,199

Orsted

A/S

(d)

(f)

.....................

261

14,199

SSE

plc

.........................

3,363

65,903

Terna

-

Rete

Elettrica

Nazionale

.........

2,947

22,166

2,304,753

Electrical

Equipment

—

0.7%

ABB

Ltd.

(Registered)

................

53,706

1,916,940

Bizlink

Holding,

Inc.

.................

14,805

124,175

Contemporary

Amperex

Technology

Co.

Ltd.,

Class

A

.......................

9,960

278,471

Legrand

SA

......................

166

15,253

Nordex

SE

(e)

......................

8,291

101,724

Schneider

Electric

SE

................

1,353

222,964

Shenzhen

Kstar

Science

&

Technology

Co.

Ltd.,

Class

A

....................

1,500

5,919

Signify

NV

(d)

(f)

.....................

4,829

129,575

Sungrow

Power

Supply

Co.

Ltd.,

Class

A

...

2,100

25,766

Sunwoda

Electronic

Co.

Ltd.,

Class

A

.....

10,000

23,235

Vestas

Wind

Systems

A/S

(e)

............

966

20,666

2,864,688

Electronic

Equipment,

Instruments

&

Components

—

0.4%

Chroma

ATE,

Inc.

...................

30,000

257,273

Delta

Electronics,

Inc.

................

42,000

423,020

FLEXium

Interconnect,

Inc.

............

39,000

106,444

Keysight

Technologies,

Inc.

(e)

...........

3,253

430,404

KH

Vatec

Co.

Ltd.

..................

641

6,902

Omron

Corp.

......................

2,600

115,704

Shimadzu

Corp.

....................

2,400

63,661

Sinbon

Electronics

Co.

Ltd.

............

2,000

20,048

Spectris

plc

.......................

5,635

232,960

Sunny

Optical

Technology

Group

Co.

Ltd.

..

900

6,237

1,662,653

Energy

Equipment

&

Services

—

0.0%

Tenaris

SA

.......................

2,619

41,370

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

5

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Entertainment

—

0.6%

Electronic

Arts,

Inc.

.................

9,573

$

1,152,589

NetEase,

Inc.

.....................

1,000

20,051

Nintendo

Co.

Ltd.

...................

22,500

934,942

Spotify

Technology

SA

(e)

..............

208

32,165

Studio

Dragon

Corp.

(e)

...............

201

7,666

Toho

Co.

Ltd.

.....................

4,900

167,167

2,314,580

Financial

Services

—

1.2%

Bajaj

Finserv

Ltd.

...................

1,240

22,925

Berkshire

Hathaway,

Inc.,

Class

B

(e)

......

3,680

1,289,104

Block,

Inc.,

Class

A

(e)

................

7,169

317,300

FirstRand

Ltd.

.....................

4,449

14,982

Groupe

Bruxelles

Lambert

NV

..........

1,257

93,534

Mastercard,

Inc.,

Class

A

..............

8,073

3,196,181

Meritz

Financial

Group,

Inc.

(e)

...........

220

9,003

Sofina

SA

........................

134

27,083

Visa,

Inc.,

Class

A

(g)

.................

651

149,737

5,119,849

Food

Products

—

1.2%

BRF

SA

(e)

........................

2,731

5,585

General

Mills,

Inc.

..................

29,631

1,896,088

Nestle

SA

(Registered)

...............

26,424

2,991,091

Sao

Martinho

SA

...................

10,347

80,548

4,973,312

Gas

Utilities

—

0.0%

Gujarat

Gas

Ltd.

...................

3,876

19,718

UGI

Corp.

........................

573

13,179

32,897

Ground

Transportation

—

0.3%

Localiza

Rent

a

Car

SA

...............

11,660

136,165

Uber

Technologies,

Inc.

(e)

.............

22,446

1,032,292

1,168,457

Health

Care

Equipment

&

Supplies

—

1.2%

Boston

Scientific

Corp.

(e)

..............

40,171

2,121,029

Cochlear

Ltd.

.....................

418

68,461

Dexcom,

Inc.

(e)

....................

902

84,157

Edwards

Lifesciences

Corp.

(e)

..........

382

26,465

Medtronic

plc

.....................

14,842

1,163,019

Shenzhen

Mindray

Bio-Medical

Electronics

Co.

Ltd.,

Class

A

....................

800

29,755

Stryker

Corp.

.....................

5,390

1,472,925

4,965,811

Health

Care

Providers

&

Services

—

1.3%

Cencora,

Inc.

.....................

965

173,671

Cigna

Group

(The)

..................

1,583

452,849

CVS

Health

Corp.

..................

12,225

853,550

Elevance

Health,

Inc.

................

3,207

1,396,392

Fleury

SA

........................

37,023

111,219

Humana,

Inc.

.....................

335

162,984

McKesson

Corp.

...................

591

256,996

Qualicorp

Consultoria

e

Corretora

de

Seguros

SA

..........................

10,931

6,741

UnitedHealth

Group,

Inc.

..............

4,172

2,103,481

5,517,883

Health

Care

Technology

—

0.0%

Teladoc

Health,

Inc.

(e)

................

5,078

94,400

Hotels,

Restaurants

&

Leisure

—

0.9%

Alsea

SAB

de

CV

(e)

.................

1,559

5,689

Aristocrat

Leisure

Ltd.

................

45,242

1,182,013

Booking

Holdings,

Inc.

(e)

..............

68

209,709

Security

Shares

Shares

Value

Hotels,

Restaurants

&

Leisure

(continued)

Boyd

Gaming

Corp.

.................

226

$

13,748

InterContinental

Hotels

Group

plc

........

2,442

180,596

MakeMyTrip

Ltd.

(e)

..................

6,603

267,554

McDonald's

Corp.

..................

3,285

865,400

Meituan

(d)

(e)

(f)

......................

15,920

230,461

Travel

+

Leisure

Co.

.................

9,535

350,221

Trip.com

Group

Ltd.

(e)

................

5,157

181,766

Yum

China

Holdings,

Inc.

.............

2,237

124,646

Yum!

Brands,

Inc.

..................

796

99,452

3,711,255

Household

Durables

—

0.2%

Arcelik

A/S

.......................

1,058

6,282

Barratt

Developments

plc

.............

58,667

314,551

Bellway

plc

.......................

1,445

40,145

DR

Horton,

Inc.

....................

431

46,320

Electrolux

AB,

Class

B

(e)

..............

461

4,751

Gree

Electric

Appliances,

Inc.

of

Zhuhai,

Class

A

...........................

85,200

425,461

Nikon

Corp.

......................

4,900

51,606

Sekisui

House

Ltd.

..................

800

15,921

905,037

Household

Products

—

0.2%

Colgate-Palmolive

Co.

...............

13,825

983,096

Independent

Power

and

Renewable

Electricity

Producers

—

0.0%

Drax

Group

plc

....................

18,825

100,785

Industrial

Conglomerates

—

1.7%

3M

Co.

..........................

13,982

1,308,995

AG

Anadolu

Grubu

Holding

A/S

.........

388

3,063

Doosan

Co.

Ltd.

...................

515

43,114

General

Electric

Co.

.................

20,393

2,254,446

Honeywell

International,

Inc.

...........

11,427

2,111,024

Siemens

AG

(Registered)

.............

8,155

1,165,421

Siemens

Ltd.

......................

208

9,183

Smiths

Group

plc

...................

18,461

363,460

7,258,706

Industrial

REITs

—

0.1%

Segro

plc

........................

45,667

399,314

Tritax

Big

Box

REIT

plc

...............

22,643

38,534

437,848

Insurance

—

1.8%

AIA

Group

Ltd.

....................

166,600

1,347,319

ASR

Nederland

NV

.................

3,157

118,126

AXA

SA

.........................

6,119

181,544

Direct

Line

Insurance

Group

plc

(e)

........

25,231

52,784

Manulife

Financial

Corp.

..............

85,051

1,554,180

Marsh

&

McLennan

Cos.,

Inc.

..........

1,196

227,599

Max

Financial

Services

Ltd.

(e)

...........

662

7,240

MetLife,

Inc.

......................

32,715

2,058,100

NN

Group

NV

.....................

12,491

400,439

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

H

.......................

43,000

243,881

Prudential

Financial,

Inc.

..............

3,542

336,100

Suncorp

Group

Ltd.

.................

661

5,889

Tokio

Marine

Holdings,

Inc.

............

600

13,892

Travelers

Cos.,

Inc.

(The)

.............

5,854

956,017

7,503,110

Interactive

Media

&

Services

—

2.9%

AfreecaTV

Co.

Ltd.

.................

355

22,050

Alphabet,

Inc.,

Class

A

(e)

..............

27,916

3,653,088

Alphabet,

Inc.,

Class

C

(e)

..............

25,279

3,333,036

Auto

Trader

Group

plc

(d)

(f)

.............

59,684

448,464

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

6

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Interactive

Media

&

Services

(continued)

Baidu,

Inc.,

Class

A

(e)

................

21,200

$

356,810

Joyy,

Inc.,

ADR

(g)

...................

916

34,909

Kuaishou

Technology

(d)

(e)

(f)

.............

13,700

108,993

Meta

Platforms,

Inc.,

Class

A

(e)

..........

8,277

2,484,838

NAVER

Corp.

.....................

1,005

150,263

Scout24

SE

(d)

(f)

....................

1,264

87,644

Tencent

Holdings

Ltd.

................

38,100

1,476,907

12,157,002

IT

Services

—

0.8%

Accenture

plc,

Class

A

...............

5,678

1,743,771

Coforge

Ltd.

......................

135

8,265

Gartner,

Inc.

(e)

.....................

927

318,526

Infosys

Ltd.

.......................

3,725

64,015

VeriSign,

Inc.

(e)

....................

5,784

1,171,434

Wix.com

Ltd.

(e)

.....................

154

14,137

3,320,148

Leisure

Products

—

0.1%

Sega

Sammy

Holdings,

Inc.

............

18,900

348,562

Life

Sciences

Tools

&

Services

—

0.5%

Agilent

Technologies,

Inc.

.............

17,096

1,911,675

Mettler-Toledo

International,

Inc.

(e)

.......

8

8,865

Pharmaron

Beijing

Co.

Ltd.,

Class

H

(d)

(f)

....

2,250

5,328

Syngene

International

Ltd.

(d)

(f)

...........

595

5,751

WuXi

AppTec

Co.

Ltd.,

Class

H

(d)

(f)

.......

9,400

112,096

2,043,715

Machinery

—

0.8%

Amada

Co.

Ltd.

....................

61,700

620,288

Caterpillar,

Inc.

....................

1,614

440,622

Cummins

India

Ltd.

.................

4,622

94,197

GEA

Group

AG

....................

1,521

56,056

Graco,

Inc.

.......................

2,684

195,610

Kone

OYJ,

Class

B

.................

294

12,389

Oshkosh

Corp.

....................

3,804

363,016

Otis

Worldwide

Corp.

................

14,856

1,193,085

Spirax-Sarco

Engineering

plc

...........

381

44,102

Turk

Traktor

ve

Ziraat

Makineleri

A/S

......

603

19,375

Wartsila

OYJ

Abp

...................

15,441

175,007

Weir

Group

plc

(The)

................

300

6,931

3,220,678

Marine

Transportation

—

0.2%

Evergreen

Marine

Corp.

Taiwan

Ltd.

......

7,000

25,174

Kuehne

+

Nagel

International

AG

(Registered)

2,172

617,132

Orient

Overseas

International

Ltd.

.......

1,500

19,979

662,285

Media

—

0.1%

Fox

Corp.,

Class

A

..................

7,722

240,927

Fox

Corp.,

Class

B

..................

12,099

349,419

590,346

Metals

&

Mining

—

1.0%

Anglo

American

plc

.................

30,079

829,493

Antofagasta

plc

....................

856

14,860

APL

Apollo

Tubes

Ltd.

...............

1,130

22,072

ArcelorMittal

SA

....................

48,291

1,209,016

Grupo

Mexico

SAB

de

CV

.............

2,355

11,129

Norsk

Hydro

ASA

...................

916

5,732

POSCO

Holdings,

Inc.

...............

504

198,560

Rio

Tinto

plc

......................

2,744

172,303

Southern

Copper

Corp.

...............

93

7,002

thyssenkrupp

AG

...................

66,527

505,760

Security

Shares

Shares

Value

Metals

&

Mining

(continued)

Wheaton

Precious

Metals

Corp.

.........

33,527

$

1,360,580

4,336,507

Multi-Utilities

—

0.3%

E.ON

SE

........................

20,698

244,775

Engie

SA

........................

55,136

845,575

1,090,350

Oil,

Gas

&

Consumable

Fuels

—

2.6%

Aker

BP

ASA

......................

1,491

41,170

BP

plc

..........................

43,372

279,573

Chevron

Corp.

.....................

9,768

1,647,080

ConocoPhillips

....................

14,866

1,780,947

Crescent

Point

Energy

Corp.

...........

11,970

99,232

Enbridge,

Inc.

.....................

62,128

2,060,642

Enerplus

Corp.

....................

6,159

108,375

Equinor

ASA

......................

10,346

339,060

Exxon

Mobil

Corp.

..................

6,145

722,529

Galp

Energia

SGPS

SA

..............

3,351

49,635

Keyera

Corp.

.....................

596

13,993

Marathon

Petroleum

Corp.

............

418

63,260

Parkland

Corp.

....................

2,464

72,074

Petroleo

Brasileiro

SA

................

32,070

240,722

Pioneer

Natural

Resources

Co.

.........

5,019

1,152,111

Shell

plc

.........................

252

7,987

SK

Innovation

Co.

Ltd.

(e)

..............

990

108,623

Turkiye

Petrol

Rafinerileri

A/S

...........

14,395

83,396

Valero

Energy

Corp.

.................

12,201

1,729,004

10,599,413

Paper

&

Forest

Products

—

0.0%

West

Fraser

Timber

Co.

Ltd.

...........

270

19,602

Passenger

Airlines

—

0.2%

ANA

Holdings,

Inc.

(e)

.................

9,300

194,724

easyJet

plc

(e)

......................

3,447

17,867

Singapore

Airlines

Ltd.

...............

108,600

512,290

724,881

Personal

Care

Products

—

0.1%

LG

H&H

Co.

Ltd.

...................

38

12,537

L'Oreal

SA

.......................

143

59,261

Natura

&

Co.

Holding

SA

(e)

............

3,188

9,253

Unilever

plc

.......................

9,853

487,396

568,447

Pharmaceuticals

—

3.1%

Astellas

Pharma,

Inc.

................

82,900

1,147,471

AstraZeneca

plc

...................

1,198

161,592

Bristol-Myers

Squibb

Co.

..............

20,812

1,207,928

Daiichi

Sankyo

Co.

Ltd.

...............

600

16,426

Eli

Lilly

&

Co.

.....................

3,171

1,703,239

GSK

plc

.........................

13,718

248,211

Johnson

&

Johnson

.................

15,674

2,441,225

Kyowa

Kirin

Co.

Ltd.

.................

400

6,955

Merck

&

Co.,

Inc.

...................

1,462

150,513

Novartis

AG

(Registered)

.............

23,914

2,442,304

Novo

Nordisk

A/S,

Class

B

............

21,065

1,917,995

Otsuka

Holdings

Co.

Ltd.

.............

10,900

387,006

Pfizer,

Inc.

.......................

6,234

206,782

Shionogi

&

Co.

Ltd.

.................

14,700

655,686

Zydus

Lifesciences

Ltd.

..............

2,348

17,360

12,710,693

Professional

Services

—

1.0%

ExlService

Holdings,

Inc.

(e)

............

1,576

44,191

Experian

plc

......................

29,573

967,261

Genpact

Ltd.

......................

14,589

528,122

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

7

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Professional

Services

(continued)

KBR,

Inc.

(g)

.......................

7,686

$

453,013

ManpowerGroup,

Inc.

................

1,011

74,127

Paychex,

Inc.

.....................

4,658

537,207

Recruit

Holdings

Co.

Ltd.

.............

22,900

700,626

Wolters

Kluwer

NV

..................

6,967

843,533

4,148,080

Real

Estate

Management

&

Development

—

0.7%

China

Resources

Land

Ltd.

............

26,000

103,250

Country

Garden

Services

Holdings

Co.

Ltd.

.

23,000

23,489

FirstService

Corp.

..................

877

127,561

Jones

Lang

LaSalle,

Inc.

(e)

.............

54

7,624

Longfor

Group

Holdings

Ltd.

(d)

..........

2,500

4,469

Mitsubishi

Estate

Co.

Ltd.

.............

21,300

277,880

Mitsui

Fudosan

Co.

Ltd.

..............

74,400

1,638,587

Nomura

Real

Estate

Holdings,

Inc.

.......

12,100

303,777

Tokyo

Tatemono

Co.

Ltd.

..............

6,800

94,018

Zillow

Group,

Inc.,

Class

C

(e)

...........

6,897

318,365

2,899,020

Retail

REITs

—

0.0%

Klepierre

SA

......................

2,607

63,834

Semiconductors

&

Semiconductor

Equipment

—

3.2%

Applied

Materials,

Inc.

...............

16,779

2,323,052

ARM

Holdings

plc,

ADR

(e)

.............

4,651

248,921

ASPEED

Technology,

Inc.

.............

1,000

86,142

First

Solar,

Inc.

(e)

...................

656

106,003

Formosa

Sumco

Technology

Corp.

.......

9,000

40,073

Global

Unichip

Corp.

................

9,000

383,238

Intel

Corp.

.......................

34,635

1,231,274

JA

Solar

Technology

Co.

Ltd.,

Class

A

.....

60,580

213,275

KLA

Corp.

........................

496

227,495

Koh

Young

Technology,

Inc.

............

432

3,975

Lam

Research

Corp.

................

282

176,749

MediaTek,

Inc.

.....................

3,000

68,589

NVIDIA

Corp.

.....................

14,065

6,118,134

Parade

Technologies

Ltd.

.............

1,000

30,608

Realtek

Semiconductor

Corp.

..........

14,000

171,898

RichWave

Technology

Corp.

(e)

..........

3,000

13,471

Risen

Energy

Co.

Ltd.,

Class

A

..........

2,900

7,595

Shenzhen

SC

New

Energy

Technology

Corp.,

Class

A

.......................

1,400

14,623

Silergy

Corp.

......................

1,000

9,479

Sino-American

Silicon

Products,

Inc.

......

21,000

102,416

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

97,000

1,581,706

United

Microelectronics

Corp.

..........

1,000

1,404

Zhejiang

Jingsheng

Mechanical

&

Electrical

Co.

Ltd.,

Class

A

....................

2,500

16,373

13,176,493

Software

—

4.4%

Adobe,

Inc.

(e)

......................

5,347

2,726,435

Autodesk,

Inc.

(e)

....................

108

22,346

Birlasoft

Ltd.

......................

3,454

20,002

Box,

Inc.,

Class

A

(e)

.................

3,081

74,591

Cadence

Design

Systems,

Inc.

(e)

........

2,515

589,265

Dropbox,

Inc.,

Class

A

(e)

..............

11,801

321,341

Fair

Isaac

Corp.

(e)

...................

17

14,765

KPIT

Technologies

Ltd.

...............

10

138

Manhattan

Associates,

Inc.

(e)

...........

6,796

1,343,297

Microsoft

Corp.

....................

33,477

10,570,363

Salesforce,

Inc.

(e)

...................

1,382

280,242

SAP

SE

.........................

17,892

2,315,977

Splunk,

Inc.

(e)

.....................

619

90,529

Security

Shares

Shares

Value

Software

(continued)

Teradata

Corp.

(e)

...................

1,147

$

51,638

18,420,929

Specialized

REITs

—

0.1%

Weyerhaeuser

Co.

..................

18,486

566,781

Specialty

Retail

—

0.7%

Best

Buy

Co.,

Inc.

..................

22,209

1,542,859

Gap,

Inc.

(The)

(g)

...................

4,681

49,759

Home

Depot,

Inc.

(The)

..............

1,114

336,606

Industria

de

Diseno

Textil

SA

...........

565

21,025

Lojas

Renner

SA

...................

2,016

5,375

TJX

Cos.,

Inc.

(The)

.................

10,148

901,954

ZOZO,

Inc.

.......................

12,800

234,383

3,091,961

Technology

Hardware,

Storage

&

Peripherals

—

3.8%

Advantech

Co.

Ltd.

.................

1,099

11,768

Apple,

Inc.

.......................

72,103

12,344,755

Dell

Technologies,

Inc.,

Class

C

.........

8,771

604,322

Hewlett

Packard

Enterprise

Co.

.........

39,503

686,167

HP,

Inc.

.........................

45,790

1,176,803

Pure

Storage,

Inc.,

Class

A

(e)

...........

720

25,646

Samsung

Electronics

Co.

Ltd.

..........

18,763

948,547

Wiwynn

Corp.

.....................

2,000

93,261

15,891,269

Textiles,

Apparel

&

Luxury

Goods

—

1.0%

ANTA

Sports

Products

Ltd.

............

19,400

217,073

Burberry

Group

plc

..................

2,641

61,205

Hermes

International

SCA

.............

491

895,009

Lululemon

Athletica,

Inc.

(e)

.............

4,674

1,802,341

LVMH

Moet

Hennessy

Louis

Vuitton

SE

....

420

317,029

Makalot

Industrial

Co.

Ltd.

.............

27,000

281,194

Mavi

Giyim

Sanayi

ve

Ticaret

A/S,

Class

B

(d)

(f)

3,600

14,797

Moncler

SpA

......................

3,338

193,454

NIKE,

Inc.,

Class

B

.................

941

89,979

Tapestry,

Inc.

......................

16,493

474,174

4,346,255

Trading

Companies

&

Distributors

—

0.2%

Applied

Industrial

Technologies,

Inc.

......

83

12,833

Mitsubishi

Corp.

....................

3,100

147,716

Mitsui

&

Co.

Ltd.

...................

100

3,627

WW

Grainger,

Inc.

..................

779

538,943

703,119

Transportation

Infrastructure

—

0.1%

Flughafen

Zurich

AG

(Registered)

........

980

186,588

Grupo

Aeroportuario

del

Centro

Norte

SAB

de

CV

..........................

2,822

30,677

Grupo

Aeroportuario

del

Pacifico

SAB

de

CV,

Class

B

.......................

3,415

56,069

273,334

Water

Utilities

—

0.1%

Cia

de

Saneamento

de

Minas

Gerais

Copasa

MG

..........................

40,434

139,485

Cia

de

Saneamento

do

Parana

(e)

........

2,380

10,814

United

Utilities

Group

plc

..............

26,648

307,918

458,217

Wireless

Telecommunication

Services

—

0.2%

MTN

Group

Ltd.

....................

23,837

142,075

SK

Telecom

Co.

Ltd.

.................

5,781

222,708

SoftBank

Corp.

....................

11,500

130,160

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

8

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Wireless

Telecommunication

Services

(continued)

SoftBank

Group

Corp.

...............

4,000

$

168,502

663,445

Total

Common

Stocks

—

57

.2

%

(Cost:

$

230,575,172

)

.............................

237,956,920

Par

(000)

Par

(000)

Corporate

Bonds

Aerospace

&

Defense

—

0.0%

Rolls-Royce

plc,

5.75%,

10/15/27

(d)

......

USD

75

72,364

Air

Freight

&

Logistics

—

0.0%

Forward

Air

Corp.,

9.50%,

10/15/31

(d)

.....

10

9,993

United

Parcel

Service,

Inc.

4.45%

,

04/01/30

.................

20

19,133

6.20%

,

01/15/38

.................

15

16,023

45,149

Automobile

Components

—

0.1%

(d)

Allison

Transmission,

Inc.,

5.88%,

06/01/29

.

173

163,122

Tenneco,

Inc.,

8.00%,

11/17/28

........

49

39,874

202,996

Automobiles

—

0.1%

Honda

Motor

Co.

Ltd.,

2.53%,

03/10/27

...

280

254,487

Banks

—

4.0%

Banco

Santander

SA

2.75%

,

05/28/25

.................

200

188,355

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

2.00%),

4.18%

,

03/24/28

(a)

...................

400

369,351

5.59%

,

08/08/28

.................

400

391,296

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

1.60%),

3.23%

,

11/22/32

(a)

...................

200

151,364

Bank

of

America

Corp.

(a)

(1-day

SOFR

+

1.01%),

1.20%

,

10/24/26

131

118,462

(1-day

SOFR

+

0.96%),

1.73%

,

07/22/27

390

345,602

(3-mo.

CME

Term

SOFR

+

1.84%),

3.82%

,

01/20/28

....................

78

72,434

(1-day

SOFR

+

1.05%),

2.55%

,

02/04/28

379

337,945

(3-mo.

CME

Term

SOFR

+

1.77%),

3.71%

,

04/24/28

....................

89

81,968

(1-day

SOFR

+

1.58%),

4.38%

,

04/27/28

240

226,621

(3-mo.

CME

Term

SOFR

+

1.63%),

3.59%

,

07/21/28

....................

39

35,615

(1-day

SOFR

+

1.99%),

6.20%

,

11/10/28

210

210,949

(1-day

SOFR

+

1.06%),

2.09%

,

06/14/29

335

280,440

(3-mo.

CME

Term

SOFR

+

1.57%),

4.27%

,

07/23/29

....................

145

133,638

(3-mo.

CME

Term

SOFR

+

1.47%),

3.97%

,

02/07/30

....................

107

96,097

(1-day

SOFR

+

2.16%),

5.02%

,

07/22/33

430

395,619

Bank

of

Montreal

5.20%

,

02/01/28

.................

360

351,390

(5-Year

USD

Swap

Semi

+

1.43%),

3.80%

,

12/15/32

(a)

...................

340

296,984

Bank

of

Nova

Scotia

(The),

4.85%,

02/01/30

20

18,834

Barclays

plc

(a)

(1-day

SOFR

+

2.71%),

2.85%

,

05/07/26

370

349,039

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

1.05%),

2.28%

,

11/24/27

....................

230

202,645

BPCE

SA,

2.70%,

10/01/29

(d)

..........

274

229,798

Security

Par

(000)

Par

(000)

Value

Banks

(continued)

Citigroup,

Inc.

4.40%

,

06/10/25

.................

USD

94

$

91,211

(1-day

SOFR

+

1.28%),

3.07%

,

02/24/28

(a)

460

417,266

(3-mo.

CME

Term

SOFR

+

1.65%),

3.67%

,

07/24/28

(a)

...................

266

244,005

(3-mo.

CME

Term

SOFR

+

1.45%),

4.08%

,

04/23/29

(a)

...................

16

14,726

(1-day

SOFR

+

1.15%),

2.67%

,

01/29/31

(a)

510

413,618

Fifth

Third

Bancorp,

(1-day

SOFR

+

2.34%),

6.34%,

07/27/29

(a)

...............

30

29,636

HSBC

Holdings

plc

(a)

(1-day

SOFR

+

1.29%),

1.59%

,

05/24/27

490

432,059

(1-day

SOFR

+

1.10%),

2.25%

,

11/22/27

570

503,152

(3-mo.

CME

Term

SOFR

+

1.80%),

4.58%

,

06/19/29

....................

301

278,286

(5-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

3.25%),

4.70%

(h)

.....................

200

150,222

(1-day

SOFR

+

1.19%),

2.80%

,

05/24/32

920

712,584

Huntington

Bancshares,

Inc.,

(1-day

SOFR

+

2.02%),

6.21%,

08/21/29

(a)

..........

25

24,456

ING

Groep

NV,

(1-day

SOFR

+

1.83%),

4.02%,

03/28/28

(a)

....................

470

436,336

JPMorgan

Chase

&

Co.

(1-day

SOFR

+

1.85%),

2.08%

,

04/22/26

(a)

25

23,465

2.95%

,

10/01/26

.................

80

74,073

(1-day

SOFR

+

0.80%),

1.05%

,

11/19/26

(a)

180

161,768

(3-mo.

CME

Term

SOFR

+

1.60%),

3.78%

,

02/01/28

(a)

...................

127

118,283

(1-day

SOFR

+

1.17%),

2.95%

,

02/24/28

(a)

266

241,303

(1-day

SOFR

+

1.89%),

2.18%

,

06/01/28

(a)

6

5,257

(1-day

SOFR

+

1.99%),

4.85%

,

07/25/28

(a)

590

568,739

(3-mo.

CME

Term

SOFR

+

1.59%),

4.45%

,

12/05/29

(a)

...................

13

12,135

(1-day

SOFR

+

2.58%),

5.72%

,

09/14/33

(a)

650

624,833

Lloyds

Banking

Group

plc,

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

1.00%),

2.44%,

02/05/26

(a)

..........

730

691,691

Mitsubishi

UFJ

Financial

Group,

Inc.

(a)

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

0.75%),

1.54%

,

07/20/27

....................

490

434,008

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

0.83%),

2.34%

,

01/19/28

....................

380

338,033

Mizuho

Financial

Group,

Inc.

(a)

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

0.75%),

1.55%

,

07/09/27

....................

500

442,106

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

2.40%),

5.67%

,

09/13/33

....................

210

200,724

(1-Year

US

Treasury

Yield

Curve

Rate

T

Note

Constant

Maturity

+

1.90%),

5.75%

,

07/06/34

....................

280

267,280

Royal

Bank

of

Canada,

5.20%,

08/01/28

...

420

408,790

Santander

Holdings

USA,

Inc.

(a)

(1-day

SOFR

+

2.36%),

6.50%

,

03/09/29

780

760,703

(1-day

SOFR

+

2.70%),

6.57%

,

06/12/29

250

243,872

Santander

UK

Group

Holdings

plc,

(1-day

SOFR

+

0.79%),

1.09%,

03/15/25

(a)

....

237

230,599

Sumitomo

Mitsui

Financial

Group,

Inc.

5.52%

,

01/13/28

.................

200

197,269

5.71%

,

01/13/30

.................

200

195,684

5.85%

,

07/13/30

.................

400

394,694

5.77%

,

01/13/33

.................

510

498,431

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

9

(Percentages

shown

are

based

on

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Banks

(continued)

5.78%

,

07/13/33

.................

USD

590

$

576,697

Toronto-Dominion

Bank

(The),

Series

FXD,

1.95%,

01/12/27

................

370

329,556

UniCredit

SpA,

(5-Year

USD

Swap

Rate

+

4.91%),

7.30%,

04/02/34

(a)

(d)

.........

90

84,783

Washington

Mutual

Escrow

Bonds

(e)(i)(j)

0.00%

,

11/06/09

.................

100

250

0.00%

,

09/29/17

.................

400

—

16,757,029

Beverages

—

1.2%

Anheuser-Busch

InBev

Worldwide,

Inc.,

4.00%,

04/13/28

.....................

343

324,577

Coca-Cola

Co.

(The)

2.25%

,

01/05/32

.................

290

235,182

3.00%

,

03/05/51

.................

1,460

979,875

2.50%

,

03/15/51

.................

220

130,909

Diageo

Capital

plc

2.00%

,

04/29/30

.................

780

632,776

2.13%

,

04/29/32

.................

270

208,685

5.50%

,

01/24/33

.................

1,030

1,032,366

PepsiCo,

Inc.

4.20%

,

07/18/52

.................

670

553,550

4.65%

,

02/15/53

.................

780

692,532

4,790,452

Biotechnology

—

0.7%

Amgen,

Inc.,

2.20%,

02/21/27

.........

200

179,539

Biogen,

Inc.

2.25%

,

05/01/30

.................

790

630,992

3.25%

,

02/15/51

.................

430

266,988

Regeneron

Pharmaceuticals,

Inc.,

1.75%,

09/15/30

.....................

2,440

1,877,458

2,954,977

Broadline

Retail

—

0.0%

eBay,

Inc.,

1.40%,

05/10/26

..........

87

77,906

Macy's

Retail

Holdings

LLC,

5.88%,

04/01/29

(d)

86

75,301

153,207

Building

Products

—

0.4%

Builders

FirstSource,

Inc.,

6.38%,

06/15/32

(d)

83

78,129

Johnson

Controls

International

plc

3.90%

,

02/14/26

.................

870

833,539

2.00%

,

09/16/31

.................

100

76,554

Owens

Corning,

3.40%,

08/15/26

.......

110

103,076

Trane

Technologies

Financing

Ltd.,

3.80%,

03/21/29

.....................

560

515,922

1,607,220

Capital

Markets

—

2.1%

Ares

Capital

Corp.

7.00%

,

01/15/27

.................

110

109,999

2.88%

,

06/15/27

.................

145

126,508

Bank

of

New

York

Mellon

Corp.

(The),

(1-day

SOFR

+

1.51%),

4.71%,

02/01/34

(a)

....

180

162,507

Blackstone

Private

Credit

Fund,

4.00%,

01/15/29

.....................

129

109,659

CI

Financial

Corp.,

4.10%,

06/15/51

.....

140

81,033

FactSet

Research

Systems,

Inc.

2.90%

,

03/01/27

.................

790

720,390

3.45%

,

03/01/32

.................

37

30,662

FS

KKR

Capital

Corp.

2.63%

,

01/15/27

.................

125

107,043

3.13%

,

10/12/28

.................

330

268,534

Goldman

Sachs

Group,

Inc.

(The)

3.75%

,

02/25/26

.................

37

35,173

3.50%

,

11/16/26

.................

27

25,110

Security

Par

(000)

Par

(000)

Value

Capital

Markets

(continued)

(1-day

SOFR

+

0.80%),

1.43%

,

03/09/27

(a)

USD

565

$

503,014

(1-day

SOFR

+

0.82%),

1.54%

,

09/10/27

(a)

1,640

1,435,975

(1-day

SOFR

+

1.11%),

2.64%

,

02/24/28

(a)

886

790,050

(3-mo.

CME

Term

SOFR

+

1.77%),

3.69%

,

06/05/28

(a)

...................

206

189,848

Moody's

Corp.,

3.25%,

01/15/28

........

69

63,264

Morgan

Stanley

3.63%

,

01/20/27

.................

281

262,323

(1-day

SOFR

+

0.88%),

1.59%

,

05/04/27

(a)

96

85,448

(1-day

SOFR

+

0.86%),

1.51%

,

07/20/27

(a)

81

71,571

(1-day

SOFR

+

1.00%),

2.48%

,

01/21/28

(a)

280

249,653

3.59%

,

07/22/28

(a)

................

35

31,933

(3-mo.

CME

Term

SOFR

+

1.40%),

3.77%

,

01/24/29

(a)

...................

407

371,125

(1-day

SOFR

+

1.59%),

5.16%

,

04/20/29

(a)

410

394,442

(3-mo.

CME

Term

SOFR

+

1.89%),

4.43%

,

01/23/30

(a)

...................

357

330,277

(1-day

SOFR

+

1.14%),

2.70%

,

01/22/31

(a)

355

290,252

(1-day

SOFR

+

1.03%),

1.79%

,

02/13/32

(a)

130

96,271

(1-day

SOFR

+

1.02%),

1.93%

,

04/28/32

(a)

24

17,827

(1-day

SOFR

+

1.20%),

2.51%

,

10/20/32

(a)

56

42,827

(1-day

SOFR

+

2.08%),

4.89%

,

07/20/33

(a)

730

663,297

(1-day

SOFR

+

1.87%),

5.25%

,

04/21/34

(a)

155

143,914

Nasdaq,

Inc.

5.65%

,

06/28/25

.................

55

54,831

5.55%

,

02/15/34

.................

125

119,307

Nomura

Holdings,

Inc.,

3.00%,

01/22/32

...

344

266,592

S&P

Global,

Inc.

2.45%

,

03/01/27

.................

280

255,042

4.75%

,

08/01/28

.................

125

121,915

5.25%

,

09/15/33

(d)

................

115

112,094

3.90%

,

03/01/62

.................

3

2,167

8,741,877

Chemicals

—

0.0%

(d)

Chemours

Co.

(The),

5.75%,

11/15/28

....

34

29,509

Nufarm

Australia

Ltd.,

5.00%,

01/27/30

....

91

80,307

Superior

Plus

LP,

4.50%,

03/15/29

......

18

15,642

Tronox,

Inc.,

4.63%,

03/15/29

.........

8

6,456

131,914

Commercial

Services

&

Supplies

—

0.1%

APX

Group,

Inc.,

5.75%,

07/15/29

(d)

......

28

23,593

Prime

Security

Services

Borrower

LLC,

6.25%,

01/15/28

(d)

....................

38

35,194

RELX

Capital,

Inc.

4.00%

,

03/18/29

.................

108

100,671

3.00%

,

05/22/30

.................

3

2,568

Republic

Services,

Inc.,

3.95%,

05/15/28

..

47

44,116

Steelcase,

Inc.,

5.13%,

01/18/29

.......

6

5,325

Williams

Scotsman,

Inc.,

7.38%,

10/01/31

(d)

.

25

24,864

236,331

Communications

Equipment

—

0.3%

Motorola

Solutions,

Inc.

4.60%

,

05/23/29

.................

162

153,353

2.30%

,

11/15/30

.................

610

473,696

2.75%

,

05/24/31

.................

440

347,534

5.60%

,

06/01/32

.................

240

229,598

1,204,181

Construction

&

Engineering

—

0.2%

Brand

Industrial

Services,

Inc.,

10.38%,

08/01/30

(d)

....................

20

20,031

Quanta

Services,

Inc.,

2.90%,

10/01/30

...

1,190

970,612

990,643

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

10

(Percentages

shown

are

based

on

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Construction

Materials

—

0.0%

AmeriTex

HoldCo

Intermediate

LLC,

10.25%,

10/15/28

(d)

....................

USD

30

$

29,663

Consumer

Finance

—

0.4%

American

Express

Co.

2.55%

,

03/04/27

.................

199

179,422

(1-day

SOFR

+

1.28%),

5.28%

,

07/27/29

(a)

290

282,730

(1-day

SOFR

+

1.84%),

5.04%

,

05/01/34

(a)

130

119,854

(1-day

SOFR

+

1.93%),

5.63%

,

07/28/34

(a)

50

47,196

Macquarie

Airfinance

Holdings

Ltd.,

8.13%,

03/30/29

(d)

....................

20

20,027

OneMain

Finance

Corp.,

9.00%,

01/15/29

..

25

24,919

Synchrony

Financial

4.50%

,

07/23/25

.................

2

1,905

3.70%

,

08/04/26

.................

22

19,861

2.88%

,

10/28/31

.................

460

325,914

Toyota

Motor

Credit

Corp.

3.05%

,

03/22/27

.................

270

250,332

1.90%

,

04/06/28

.................

290

251,564

1,523,724

Consumer

Staples

Distribution

&

Retail

—

0.0%

Albertsons

Cos.,

Inc.,

6.50%,

02/15/28

(d)

...

67

66,221

Diversified

REITs

—

0.2%

Digital

Realty

Trust

LP,

5.55%,

01/15/28

...

820

801,927

Essential

Properties

LP,

2.95%,

07/15/31

..

170

123,936

925,863

Diversified

Telecommunication

Services

—

0.1%

Frontier

Communications

Holdings

LLC,

8.63%,

03/15/31

(d)

....................

17

16,015

Koninklijke

KPN

NV,

8.38%,

10/01/30

....

140

156,435

Level

3

Financing,

Inc.,

10.50%,

05/15/30

(d)

.

36

36,237

Uniti

Group

LP

(d)

10.50%

,

02/15/28

................

40

39,178

6.50%

,

02/15/29

.................

24

15,715

263,580

Electric

Utilities

—

0.4%

Avangrid,

Inc.

3.20%

,

04/15/25

.................

620

592,710

3.80%

,

06/01/29

.................

140

124,417

Baltimore

Gas

&

Electric

Co.,

2.25%,

06/15/31

18

14,318

Eversource

Energy

Series

U,

1.40%

,

08/15/26

..........

60

53,195

2.90%

,

03/01/27

.................

270

246,549

3.38%

,

03/01/32

.................

220

182,491

Exelon

Corp.

2.75%

,

03/15/27

.................

19

17,254

5.10%

,

06/15/45

.................

10

8,550

4.10%

,

03/15/52

.................

7

5,062

NSTAR

Electric

Co.

3.25%

,

05/15/29

.................

280

251,543

3.95%

,

04/01/30

.................

300

273,911

Public

Service

Electric

&

Gas

Co.

3.65%

,

09/01/28

.................

80

74,182

2.05%

,

08/01/50

.................

31

15,831

1,860,013

Electronic

Equipment,

Instruments

&

Components

—

0.2%

Allegion

US

Holding

Co.,

Inc.,

3.55%,

10/01/27

15

13,693

CDW

LLC,

3.57%,

12/01/31

..........

66

54,360

Keysight

Technologies,

Inc.

4.60%

,

04/06/27

.................

620

597,187

3.00%

,

10/30/29

.................

170

146,161

811,401

Security

Par

(000)

Par

(000)

Value

Energy

Equipment

&

Services

—

0.1%

(d)

CGG

SA,

8.75%,

04/01/27

...........

USD

200

$

178,897

Valaris

Ltd.,

8.38%,

04/30/30

..........

10

10,008

Venture

Global

LNG,

Inc.

8.13%

,

06/01/28

.................

15

14,852

8.38%

,

06/01/31

.................

15

14,746

218,503

Entertainment

—

0.0%

Electronic

Arts,

Inc.,

1.85%,

02/15/31

.....

122

94,789

Financial

Services

—

0.3%

Fidelity

National

Information

Services,

Inc.,

1.65%,

03/01/28

................

58

49,085

Fiserv,

Inc.

5.45%

,

03/02/28

.................

130

128,857

5.60%

,

03/02/33

.................

275

266,526

Freedom

Mortgage

Corp.

(d)

12.00%

,

10/01/28

................

20

20,337

12.25%

,

10/01/30

................

30

30,664

Mastercard,

Inc.

3.30%

,

03/26/27

.................

100

93,927

2.00%

,

11/18/31

.................

390

305,930

Sabre

GLBL,

Inc.,

11.25%,

12/15/27

(d)

....

46

42,210

Synchrony

Bank,

5.63%,

08/23/27

......

250

233,324

United

Wholesale

Mortgage

LLC

(d)

5.50%

,

11/15/25

.................

50

47,559

5.50%

,

04/15/29

.................

59

49,855

Visa,

Inc.,

3.65%,

09/15/47

...........

180

136,525

1,404,799

Food

Products

—

0.4%

Kellogg

Co.

3.40%

,

11/15/27

.................

190

174,622

4.30%

,

05/15/28

.................

850

802,156

2.10%

,

06/01/30

.................

90

71,722

Lamb

Weston

Holdings,

Inc.,

4.38%,

01/31/32

(d)

93

77,910

Unilever

Capital

Corp.,

1.75%,

08/12/31

...

600

464,990

1,591,400

Gas

Utilities

—

0.1%

AmeriGas

Partners

LP

5.75%

,

05/20/27

.................

175

164,036

9.38%

,

06/01/28

(d)

................

30

30,412

ONE

Gas,

Inc.,

4.25%,

09/01/32

........

45

40,576

Suburban

Propane

Partners

LP,

5.00%,

06/01/31

(d)

....................

19

15,860

250,884

Ground

Transportation

—

0.0%

Canadian

National

Railway

Co.,

3.85%,

08/05/32

.....................

160

142,514

Ryder

System,

Inc.,

5.65%,

03/01/28

.....

25

24,745

167,259

Health

Care

Equipment

&

Supplies

—

0.3%

180

Medical,

Inc.,

3.88%,

10/15/29

(d)

.....

40

33,799

Abbott

Laboratories,

4.90%,

11/30/46

.....

50

45,519

Bausch

&

Lomb

Escrow

Corp.,

8.38%,

10/01/28

(d)

....................

35

35,104

DH

Europe

Finance

II

Sarl,

2.60%,

11/15/29

1,360

1,168,694

1,283,116

Health

Care

Providers

&

Services

—

1.2%

DaVita,

Inc.,

4.63%,

06/01/30

(d)

........

98

80,470

Elevance

Health,

Inc.

3.65%

,

12/01/27

.................

260

240,995

4.10%

,

03/01/28

.................

53

49,932

Encompass

Health

Corp.,

4.75%,

02/01/30

.

68

60,159

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

11

(Percentages

shown

are

based

on

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Health

Care

Providers

&

Services

(continued)

HCA,

Inc.

3.13%

,

03/15/27

.................

USD

160

$

145,374

5.20%

,

06/01/28

.................

170

164,300

3.63%

,

03/15/32

.................

348

288,453

5.50%

,

06/01/33

.................

187

176,851

4.63%

,

03/15/52

.................

160

120,127

5.90%

,

06/01/53

.................

260

234,137

Heartland

Dental

LLC,

10.50%,

04/30/28

(d)

.

30

30,187

Humana,

Inc.

1.35%

,

02/03/27

.................

490

426,894

3.70%

,

03/23/29

.................

360

328,400

4.88%

,

04/01/30

.................

57

53,918

Laboratory

Corp.

of

America

Holdings,

1.55%,

06/01/26

.....................

40

35,831

LifePoint

Health,

Inc.

9.88%

,

08/15/30

(d)

................

30

29,044

Class

B,

11.00%

,

10/15/30

..........

40

40,000

Tenet

Healthcare

Corp.,

6.13%,

10/01/28

..

88

82,610

UnitedHealth

Group,

Inc.

5.30%

,

02/15/30

.................

350

347,824

4.20%

,

05/15/32

.................

1,500

1,369,082

4.50%

,

04/15/33

.................

90

83,278

5.88%

,

02/15/53

.................

60

60,213

5.05%

,

04/15/53

.................

420

375,759

4,823,838

Health

Care

REITs

—

0.1%

Welltower

OP

LLC,

4.00%,

06/01/25

.....

300

289,852

Health

Care

Technology

—

0.2%

IQVIA,

Inc.,

5.70%,

05/15/28

(d)

.........

800

777,232

Hotels,

Restaurants

&

Leisure

—

0.3%

Caesars

Entertainment,

Inc.

(d)

8.13%

,

07/01/27

.................

28

28,133

7.00%

,

02/15/30

.................

63

61,303

Darden

Restaurants,

Inc.,

4.55%,

02/15/48

.

160

123,890

Hilton

Domestic

Operating

Co.,

Inc.,

4.88%,

01/15/30

.....................

88

80,087

Hilton

Grand

Vacations

Borrower

Escrow

LLC,

5.00%,

06/01/29

(d)

...............

91

78,937

Sands

China

Ltd.

(c)

5.65%

,

08/08/28

(a)

................

275

257,984

4.88%

,

06/18/30

.................

200

172,004

Starbucks

Corp.,

2.00%,

03/12/27

.......

250

222,754

Yum!

Brands,

Inc.,

5.38%,

04/01/32

......

88

80,461

1,105,553

Household

Durables

—

0.3%

NVR,

Inc.,

3.00%,

05/15/30

...........

710

591,524

PulteGroup,

Inc.,

5.00%,

01/15/27

.......

470

459,491

Toll

Brothers

Finance

Corp.,

3.80%,

11/01/29

310

270,292

TopBuild

Corp.,

4.13%,

02/15/32

(d)

......

32

25,979

1,347,286

Household

Products

—

0.0%

Colgate-Palmolive

Co.,

3.25%,

08/15/32

...

15

13,095

Industrial

Conglomerates

—

0.2%

nVent

Finance

SARL,

5.65%,

05/15/33

....

410

381,514

Pentair

Finance

SARL,

4.50%,

07/01/29

...

450

412,341

793,855

Insurance

—

0.6%

Alleghany

Corp.,

3.63%,

05/15/30

.......

30

26,906

Ambac

Assurance

Corp.,

5.10%

(d)

(h)

......

5

6,913

Arthur

J

Gallagher

&

Co.,

3.50%,

05/20/51

.

330

214,165

Manulife

Financial

Corp.,

4.15%,

03/04/26

..

340

328,357

Security

Par

(000)

Par

(000)

Value

Insurance

(continued)

Marsh

&

McLennan

Cos.,

Inc.

4.38%

,

03/15/29

.................

USD

816

$

773,894

2.25%

,

11/15/30

.................

541

432,920

5.45%

,

03/15/53

.................

270

252,034

NFP

Corp.,

8.50%,

10/01/31

(d)

.........

20

20,030

RenaissanceRe

Holdings

Ltd.,

5.75%,

06/05/33

300

282,196

Trinity

Acquisition

plc,

4.40%,

03/15/26

....

20

19,203

2,356,618

IT

Services

—

0.3%

Central

Parent

LLC,

8.00%,

06/15/29

(d)

....

10

9,963

CGI,

Inc.,

2.30%,

09/14/31

...........

520

390,301

Cogent

Communications

Group,

Inc.,

7.00%,

06/15/27

(d)

....................

250

238,750

Gartner,

Inc.,

4.50%,

07/01/28

(d)

........

87

79,371

International

Business

Machines

Corp.

2.20%

,

02/09/27

.................

280

251,886

4.40%

,

07/27/32

.................

130

119,523

Open

Text

Holdings,

Inc.,

4.13%,

02/15/30

(d)

99

82,824

VeriSign,

Inc.,

2.70%,

06/15/31

........

180

143,367

VT

Topco,

Inc.,

8.50%,

08/15/30

(d)

.......

25

24,764

1,340,749

Life

Sciences

Tools

&

Services

—

0.0%

(d)

Fortrea

Holdings,

Inc.,

7.50%,

07/01/30

...

6

5,838

Star

Parent,

Inc.,

9.00%,

10/01/30

.......

10

10,105

15,943

Machinery

—

0.1%

Cummins,

Inc.,

1.50%,

09/01/30

........

420

327,990

Ingersoll

Rand,

Inc.

5.40%

,

08/14/28

.................

75

73,737

5.70%

,

08/14/33

.................

30

28,954

Otis

Worldwide

Corp.,

2.57%,

02/15/30

...

23

19,069

Wabash

National

Corp.,

4.50%,

10/15/28

(d)

.

94

79,182

528,932

Media

—

0.1%

Clear

Channel

Outdoor

Holdings,

Inc.,

9.00%,

09/15/28

(d)

....................

25

24,759

DirecTV

Financing

LLC,

5.88%,

08/15/27

(d)

.

93

82,229

EquipmentShare.com,

Inc.,

9.00%,

05/15/28

(d)

20

19,225

Interpublic

Group

of

Cos.,

Inc.

(The)

4.20%

,

04/15/24

.................

15

14,830

4.65%

,

10/01/28

.................

170

160,274

2.40%

,

03/01/31

.................

32

25,112

Nexstar

Media,

Inc.,

4.75%,

11/01/28

(d)

....

33

27,314

Sirius

XM

Radio,

Inc.,

5.50%,

07/01/29

(d)

...

92

81,372

Univision

Communications,

Inc.,

8.00%,

08/15/28

(d)

....................

10

9,695

444,810

Metals

&

Mining

—

0.3%

Arsenal

AIC

Parent

LLC,

8.00%,

10/01/30

(d)

.

20

19,900

ATI,

Inc.,

7.25%,

08/15/30

...........

35

34,738

Cleveland-Cliffs,

Inc.,

6.75%,

04/15/30

(d)

...

17

15,889

FMG

Resources

August

2006

Pty.

Ltd.

(d)

5.88%

,

04/15/30

.................

85

77,708

6.13%

,

04/15/32

.................

84

76,388

Mineral

Resources

Ltd.

(d)

9.25%

,

10/01/28

.................

25

25,250

8.50%

,

05/01/30

.................

250

245,255

Reliance

Steel

&

Aluminum

Co.,

2.15%,

08/15/30

.....................

480

377,098

Steel

Dynamics,

Inc.

2.80%

,

12/15/24

.................

35

33,688

2.40%

,

06/15/25

.................

330

310,047

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

12

(Percentages

shown

are

based

on

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Metals

&

Mining

(continued)

Taseko

Mines

Ltd.,

7.00%,

02/15/26

(d)

....

USD

7

$

6,539

1,222,500

Office

REITs

—

0.0%

Alexandria

Real

Estate

Equities,

Inc.,

2.95%,

03/15/34

.....................

24

18,225

Oil,

Gas

&

Consumable

Fuels

—

0.2%

Cheniere

Corpus

Christi

Holdings

LLC,

5.13%,

06/30/27

.....................

30

29,152

Kinder

Morgan

Energy

Partners

LP

7.50%

,

11/15/40

.................

16

16,791

5.00%

,

08/15/42

.................

20

16,171

ONEOK,

Inc.

5.85%

,

01/15/26

.................

330

330,221

6.35%

,

01/15/31

.................

380

382,171

Vermilion

Energy,

Inc.,

6.88%,

05/01/30

(d)

..

176

166,531

Vital

Energy,

Inc.,

9.75%,

10/15/30

......

20

20,446

961,483

Paper

&

Forest

Products

—

0.0%

Georgia-Pacific

LLC

1.75%

,

09/30/25

(d)

................

22

20,334

0.95%

,

05/15/26

(d)

................

10

8,852

7.75%

,

11/15/29

.................

20

21,993

Louisiana-Pacific

Corp.,

3.63%,

03/15/29

(d)

.

74

61,958

113,137

Passenger

Airlines

—

0.0%

American

Airlines

Pass-Through

Trust

Series

2016-1,

Class

B,

5.25%

,

01/15/24

36

35,765

Series

2017-1,

Class

B,

4.95%

,

02/15/25

12

11,529

Series

2019-1,

Class

B,

3.85%

,

02/15/28

50

44,138

United

Airlines

Pass-Through

Trust,

Series

2019-2,

Class

B,

3.50%,

05/01/28

.....

29

25,964

United

Airlines,

Inc.

(d)

4.38%

,

04/15/26

.................

17

15,721

4.63%

,

04/15/29

.................

54

46,415

179,532

Pharmaceuticals

—

0.9%

Astrazeneca

Finance

LLC

1.75%

,

05/28/28

.................

390

333,825

2.25%

,

05/28/31

.................

280

225,569

4.88%

,

03/03/33

.................

420

405,236

Bausch

Health

Cos.,

Inc.,

11.00%,

09/30/28

(d)

42

28,495

Bristol-Myers

Squibb

Co.,

2.95%,

03/15/32

.

200

166,928

Eli

Lilly

&

Co.

4.88%

,

02/27/53

.................

80

73,489

4.95%

,

02/27/63

.................

705

639,628

Jazz

Securities

DAC,

4.38%,

01/15/29

(d)

...

200

174,377

Johnson

&

Johnson,

2.25%,

09/01/50

....

370

213,439

Merck

&

Co.,

Inc.

2.15%

,

12/10/31

.................

420

332,130

2.45%

,

06/24/50

.................

30

17,251

2.75%

,

12/10/51

.................

19

11,475

5.00%

,

05/17/53

.................

85

77,304

Novartis

Capital

Corp.,

2.20%,

08/14/30

...

855

708,674

Pfizer

Investment

Enterprises

Pte.

Ltd.

5.30%

,

05/19/53

.................

30

27,874

5.34%

,

05/19/63

.................

20

18,271

Zoetis,

Inc.

3.00%

,

09/12/27

.................

110

100,974

2.00%

,

05/15/30

.................

70

56,033

3,610,972

Security

Par

(000)

Par

(000)

Value

Professional

Services

—

0.4%

AMN

Healthcare,

Inc.,

4.00%,

04/15/29

(d)

..

USD

16

$

13,577

Automatic

Data

Processing,

Inc.,

1.70%,

05/15/28

.....................

1,510

1,304,511

Thomson

Reuters

Corp.,

3.35%,

05/15/26

..

530

500,518

TriNet

Group,

Inc.,

7.13%,

08/15/31

(d)

.....

30

29,700

1,848,306

Real

Estate

Management

&

Development

—

0.2%

CBRE

Services,

Inc.

4.88%

,

03/01/26

.................

170

165,393

5.95%

,

08/15/34

.................

520

490,469

Cushman

&

Wakefield

US

Borrower

LLC,

8.88%,

09/01/31

(d)

...............

15

14,513

Greystar

Real

Estate

Partners

LLC,

7.75%,

09/01/30

(d)

....................

15

14,818

Howard

Hughes

Corp.

(The),

5.38%,

08/01/28

(d)

90

79,296

764,489

Retail

REITs

—

0.0%

Realty

Income

Corp.

3.00%

,

01/15/27

.................

5

4,583

3.25%

,

01/15/31

.................

40

33,612

38,195

Semiconductors

&

Semiconductor

Equipment

—

0.8%

Broadcom,

Inc.

(d)

2.45%

,

02/15/31

.................

570

445,515

2.60%

,

02/15/33

.................

120

89,482

3.75%

,

02/15/51

.................

420

280,790

NCR

Atleos

Escrow

Corp.,

9.50%,

04/01/29

(d)

40

38,688

NVIDIA

Corp.

1.55%

,

06/15/28

.................

190

162,386

2.00%

,

06/15/31

.................

870

696,116

3.50%

,

04/01/50

.................

50

36,443

3.70%

,

04/01/60

.................

180

131,652

NXP

BV

3.88%

,

06/18/26

.................

25

23,731

4.30%

,

06/18/29

.................

172

157,325

3.40%

,

05/01/30

.................

70

59,915

2.50%

,

05/11/31

.................

189

147,142

Texas

Instruments,

Inc.

1.90%

,

09/15/31

.................

97

76,412

3.65%

,

08/16/32

.................

1,020

896,704

4.90%

,

03/14/33

.................

220

212,763

3,455,064

Software

—

1.1%

Academy

Ltd.,

6.00%,

11/15/27

(d)

.......

33

31,192

Adobe,

Inc.,

2.30%,

02/01/30

..........

1,010

849,868

Autodesk,

Inc.

3.50%

,

06/15/27

.................

81

75,573

2.40%

,

12/15/31

.................

54

42,568

Gen

Digital,

Inc.,

7.13%,

09/30/30

(d)

......

105

103,439

Intuit,

Inc.

1.35%

,

07/15/27

.................

860

744,233

1.65%

,

07/15/30

.................

1,060

832,679

5.20%

,

09/15/33

.................

90

87,638

5.50%

,

09/15/53

.................

30

28,783

Oracle

Corp.

4.50%

,

05/06/28

.................

60

57,187

4.65%

,

05/06/30

.................

40

37,407

4.90%

,

02/06/33

.................

210

193,563

5.55%

,

02/06/53

.................

115

100,759

Roper

Technologies,

Inc.,

1.75%,

02/15/31

.

26

19,726

Salesforce,

Inc.,

3.05%,

07/15/61

.......

10

5,977

ServiceNow,

Inc.,

1.40%,

09/01/30

......

850

652,506

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

13

(Percentages

shown

are

based

on

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Software

(continued)

VMware,

Inc.

1.80%

,

08/15/28

.................

USD

784

$

650,649

2.20%

,

08/15/31

.................

150

113,195

4,626,942

Specialized

REITs

—

0.1%

American

Tower

Corp.

1.45%

,

09/15/26

.................

120

105,754

5.80%

,

11/15/28

.................

10

9,925

Equinix,

Inc.

1.00%

,

09/15/25

.................

151

137,182

1.45%

,

05/15/26

.................

160

142,853

Iron

Mountain,

Inc.,

5.25%,

07/15/30

(d)

....

200

174,729

570,443

Specialty

Retail

—

0.3%

Bath

&

Body

Works,

Inc.,

6.95%,

03/01/33

.

37

33,109

Home

Depot,

Inc.

(The)

1.50%

,

09/15/28

.................

300

252,050

1.38%

,

03/15/31

.................

31

23,447

1.88%

,

09/15/31

.................

400

310,526

4.50%

,

12/06/48

.................

17

14,230

3.35%

,

04/15/50

.................

240

163,576

Lowe's

Cos.,

Inc.

3.35%

,

04/01/27

.................

450

418,949

3.65%

,

04/05/29

.................

93

84,398

1,300,285

Technology

Hardware,

Storage

&

Peripherals

—

0.1%

Apple,

Inc.

3.95%

,

08/08/52

.................

185

145,083

4.10%

,

08/08/62

.................

40

30,764

Xerox

Holdings

Corp.,

5.50%,

08/15/28

(d)

..

96

80,733

256,580

Transportation

Infrastructure

—

0.1%

Triton

Container

International

Ltd.,

3.25%,

03/15/32

.....................

320

238,541

Total

Corporate

Bonds

—

19

.6

%

(Cost:

$

88,049,567

)

..............................

81,676,499

Floating

Rate

Loan

Interests

Consumer

Finance

—

0.0%

Credito

Real

SAB

de

CV

SOFOM

ER,

Term

Loan

A

,

(3-mo.

LIBOR

USD

+

3.75%),

0.00

%

,

02/21/24

(a)

(e)

(i)

(j)

.............

7

770

Total

Floating

Rate

Loan

Interests

—

0

.0

%

(Cost:

$

7,000

)

.................................

770

Shares

Shares

Investment

Companies

iShares

Russell

1000

Value

ETF

(k)

.......

55,212

8,382,286

Total

Investment

Companies

—

2

.0

%

(Cost:

$

8,730,480

)

..............................

8,382,286

Par

(000)

Par

(000)

Non-Agency

Mortgage-Backed

Securities

Collateralized

Mortgage

Obligations

—

0.2%

Alternative

Loan

Trust

Series

2005-22T1,

Class

A1,

(1-mo.

CME

Term

SOFR

at

5.42%

Cap

+

0.46%),

5.42%,

06/25/35

(a)

..............

36

29,578

Security

Par

(000)

Par

(000)

Value

Collateralized

Mortgage

Obligations

(continued)

Series

2006-11CB,

Class

3A1,

6.50%,

05/25/36

....................

USD

19

$

9,384

Series

2006-OC10,

Class

2A3,

(1-mo.

CME

Term

SOFR

+

0.57%),

5.89%,

11/25/36

(a)

23

19,517

Series

2007-OA3,

Class

1A1,

(1-mo.

CME

Term

SOFR

+

0.39%),

5.71%,

04/25/47

(a)

20

17,257

Series

2007-OA3,

Class

2A2,

(1-mo.

CME

Term

SOFR

+

0.47%),

5.79%,

04/25/47

(a)

1

50

Series

2007-OA8,

Class

2A1,

(1-mo.

CME

Term

SOFR

+

0.47%),

5.79%,

06/25/47

(a)

12

9,159

Series

2007-OH2,

Class

A2A,

(1-mo.

CME

Term

SOFR

at

10.00%

Cap

+

0.59%),

5.91%,

08/25/47

(a)

..............

5

4,342

American

Home

Mortgage

Assets

Trust,

Series

2006-3,

Class

2A11,

(Federal

Reserve

US

12

Month

Cumulative

Average

1

Year

CMT

+

0.94%),

5.57%,

10/25/46

(a)

..........

43

28,956

APS

Resecuritization

Trust

(a)(d)

Series

2016-1,

Class

1MZ,

3.03%,

07/31/57

141

54,258

Series

2016-3,

Class

3A,

(1-mo.

CME

Term

SOFR

+

2.96%),

8.28%,

09/27/46

...

12

11,881

Banc

of

America

Funding

Trust,

Series

2014-

R2,

Class

1C,

0.00%,

11/26/36

(a)

(d)

.....

52

14,753

Bear

Stearns

Mortgage

Funding

Trust,

Series

2006-SL1,

Class

A1,

(1-mo.

CME

Term

SOFR

at

11.00%

Cap

+

0.39%),

5.71%,

08/25/36

(a)

.....................

11

10,232

Chase

Mortgage

Finance

Trust,

Series

2007-

S6,

Class

1A1,

6.00%,

12/25/37

.......

266

113,189

Citicorp

Mortgage

Securities

Trust,

Series

2008-2,

Class

1A1,

6.50%,

06/25/38

....

23

17,137

Credit

Suisse

Mortgage

Capital

Certificates,

Series

2009-12R,

Class

3A1,

6.50%,

10/27/37

(d)

.....................

109

41,998

CSFB

Mortgage-Backed

Pass-Through

Certificates,

Series

2005-10,

Class

10A1,

(1-mo.

CME

Term

SOFR

at

1.35%

Floor

and

6.25%

Cap

+

1.46%),

6.25%,

11/25/35

(a)

.

18

4,156

CSMC

Mortgage-Backed

Trust,

Series

2007-5,

Class

1A11,

7.00%,

08/25/37

(a)

........

23

13,738

Deutsche

Alt-A

Securities

Mortgage

Loan

Trust,

Series

2007-OA4,

Class

A2A,

(1-mo.

CME

Term

SOFR

at

0.17%

Floor

+

0.45%),

5.77%,

08/25/47

(a)

................

78

68,094

GreenPoint

Mortgage

Funding

Trust,

Series

2006-AR2,

Class

4A1,

(Federal

Reserve

US

12

Month

Cumulative

Average

1

Year

CMT

at

10.50%

Cap

+

2.00%),

6.63%,

03/25/36

(a)

5

3,925

GSR

Mortgage

Loan

Trust,

Series

2007-1F,

Class

2A4,

5.50%,

01/25/37

.........

1

1,036

IndyMac

INDX

Mortgage

Loan

Trust,

Series

2007-AR19,

Class

3A1,

3.69%,

09/25/37

(a)

28

18,483

JPMorgan

Alternative

Loan

Trust,

Series

2007-

A1,

Class

1A4,

(1-mo.

CME

Term

SOFR

at

11.50%

Cap

+

0.53%),

5.85%,

03/25/37

(a)

30

27,303

New

Residential

Mortgage

Loan

Trust,

Series

2019-2A,

Class

A1,

4.25%,

12/25/57

(a)

(d)

.

31

29,008

Nomura

Asset

Acceptance

Corp.

Alternative

Loan

Trust,

Series

2007-2,

Class

A4,

(1-mo.

CME

Term

SOFR

at

0.42%

Floor

+

0.53%),

5.85%,

06/25/37

(a)

................

4

3,662

Structured

Adjustable

Rate

Mortgage

Loan

Trust,

Series

2006-3,

Class

4A,

3.96%,

04/25/36

(a)

.....................

7

3,987

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

14

(Percentages

shown

are

based

on

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Collateralized

Mortgage

Obligations

(continued)

Structured

Asset

Mortgage

Investments

II

Trust,

Series

2006-AR4,

Class

3A1,

(1-mo.

CME

Term

SOFR

at

0.19%

Floor

and

10.50%

Cap

+

0.49%),

5.81%,

06/25/36

(a)

.........

USD

11

$

9,050

Washington

Mutual

Mortgage

Pass-Through

Certificates

WMALT

Trust

Series

2006-4,

Class

1A1,

6.00%,

04/25/36

32

27,732

Series

2006-4,

Class

3A5,

6.35%,

05/25/36

(c)

...................

39

31,725

623,590

Commercial

Mortgage-Backed

Securities

—

0.0%

(a)(d)

Bayview

Commercial

Asset

Trust

Series

2005-4A,

Class

A1,

(1-mo.

CME

Term

SOFR

at

0.30%

Floor

+

0.56%),

5.88%,

01/25/36

....................

13

11,888

Series

2005-4A,

Class

M1,

(1-mo.

CME

Term

SOFR

at

0.45%

Floor

+

0.79%),

6.11%,

01/25/36

...............

10

8,999

Series

2006-1A,

Class

A2,

(1-mo.

CME

Term

SOFR

at

0.54%

Floor

+

0.65%),

5.97%,

04/25/36

....................

6

5,365

Series

2006-3A,

Class

A1,

(1-mo.

CME

Term

SOFR

at

0.25%

Floor

+

0.49%),

5.81%,

10/25/36

....................

7

6,680

Series

2006-3A,

Class

A2,

(1-mo.

CME

Term

SOFR

at

0.30%

Floor

+

0.56%),

5.88%,

10/25/36

....................

7

6,696

Lehman

Brothers

Small

Balance

Commercial

Mortgage

Trust,

Series

2007-1A,

Class

1A,

(1-mo.

CME

Term

SOFR

+

0.36%),

5.68%,

03/25/37

......................

1

541

40,169

Interest

Only

Commercial

Mortgage-Backed

Securities

—

0.0%

One

Market

Plaza

Trust,

Series

2017-1MKT,

Class

XCP,

0.00%,

02/10/32

(a)

(d)

.......

1,000

28

Principal

Only

Collateralized

Mortgage

Obligations

—

0.0%

Seasoned

Credit

Risk

Transfer

Trust,

Series

2017-3,

Class

B,

0.00%,

07/25/56

(d)

(l)

....

37

3,719

Total

Non-Agency

Mortgage-Backed

Securities

—

0

.2

%

(Cost:

$

849,782

)

................................

667,506

Beneficial

Interest

(000)

Other

Interests

(m)

Capital

Markets

—

0.0%

(e)(i)(j)

Lehman

Brothers

Holdings,

Capital

Trust

VII

.

130

—

Lehman

Brothers

Holdings,

Inc.

.........

490

—

Total

Other

Interests

—

0.0

%

(Cost:

$

6

)

....................................

—

Shares

Shares

Preferred

Securities

Preferred

Stocks

—

0.3%

Banks

—

0.1%

Banco

Bradesco

SA

(Preference)

........

90,862

257,589

Bancolombia

SA

(Preference)

..........

11,335

75,427

Itau

Unibanco

Holding

SA

(Preference)

....

5,890

31,837

364,853

Security

Shares

Shares

Value

Chemicals

—

0.1%

Braskem

SA

(Preference)

,

Series

A

(e)

.....

78,836

$

323,402

Electrical

Equipment

—

0.1%

Sociedad

Quimica

y

Minera

de

Chile

SA

(Preference)

....................

5,170

307,067

Passenger

Airlines

—

0.0%

Azul

SA

(Preference)

(e)

...............

42,581

122,494

Total

Preferred

Securities

—

0

.3

%

(Cost:

$

1,497,985

)

..............................

1,117,816

Rights

Ground

Transportation

—

0.0%

Localiza

Rent

a

Car

SA

(

Expires

11/10/23

,

Strike

Price

BRL

47.13

)

(e)

...........

85

303

Total

Rights

—

0

.0

%

(Cost:

$

—

)

....................................

303

Par

(000)

Par

(000)

U.S.

Government

Sponsored

Agency

Securities

Mortgage-Backed

Securities

—

8.2%

Federal

Home

Loan

Mortgage

Corp.

2.50

%

,

01/01/29

-

04/01/31

..........

USD

136

124,129

3.00

%

,

09/01/27

-

12/01/46

..........

240

212,570

3.50

%

,

04/01/31

-

01/01/48

..........

379

341,184

4.00

%

,

08/01/40

-

12/01/45

..........

59

54,426

4.50

%

,

02/01/39

-

04/01/49

..........

443

416,528

5.00

%

,

10/01/41

-

11/01/48

..........

88

86,051

5.50

%

,

06/01/41

.................

40

39,866

6.00

%

,

01/01/34

.................

29

28,737

Federal

National

Mortgage

Association

,

4.00

%

,

01/01/41

.................

4

3,983

Government

National

Mortgage

Association

2.00

%

,

08/20/50

-

04/20/52

..........

3,420

2,708,214

2.00

%

,

10/15/53

(n)

................

663

524,213

2.50

%

,

07/20/51

-

07/20/52

..........

5,054

4,132,407

2.50

%

,

10/15/53

(n)

................

600

490,335

3.00

%

,

02/15/45

-

09/20/52

..........

3,378

2,871,235

3.00

%

,

10/15/53

(n)

................

420

356,312

3.50

%

,

01/15/42

-

02/20/52

..........

1,099

977,755

3.50

%

,

10/15/53

(n)

................

711

622,736

4.00

%

,

04/20/39

-

12/20/47

..........

196

180,560

4.00

%

,

10/15/53

(n)

................

694

625,224

4.50

%

,

12/20/39

-

04/20/50

..........

259

244,590

4.50

%

,

10/15/53

(n)

................

347

320,555

5.00

%

,

12/15/38

-

04/20/53

..........

129

123,800

5.00

%

,

10/15/53

(n)

................

325

307,963

5.50

%

,

12/20/52

-

07/20/53

..........

228

221,786

5.50

%

,

10/15/53

(n)

................

425

412,416

6.00

%

,

10/15/53

(n)

................

250

247,715

7.50

%

,

03/15/32

.................

1

1,146

Uniform

Mortgage-Backed

Securities

2.00

%

,

10/01/31

-

02/01/52

..........

3,664

2,848,566

2.00

%

,

10/25/38

-

10/25/53

(n)

.........

1,225

1,026,104

2.50

%

,

09/01/27

-

02/01/52

..........

1,857

1,551,971

2.50

%

,

10/25/38

-

10/25/53

(n)

.........

700

586,154

3.00

%

,

04/01/29

-

03/01/52

..........

1,896

1,646,298

3.50

%

,

08/01/30

-

01/01/51

..........

2,505

2,205,736

3.50

%

,

10/25/38

(n)

................

61

56,397

4.00

%

,

10/01/33

-

01/01/51

..........

1,236

1,127,424

4.00

%

,

10/25/38

-

10/25/53

(n)

.........

350

318,286

4.50

%

,

02/01/25

-

08/01/53

..........

2,085

1,955,657

4.50

%

,

10/25/53

(n)

................

75

68,859

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

15

(Percentages

shown

are

based

on

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Mortgage-Backed

Securities

(continued)

5.00

%

,

09/01/35

-

05/01/49

..........

USD

153

$

149,460

5.00

%

,

10/25/53

(n)

................

3,250

3,066,172

5.50

%

,

02/01/35

-

04/01/41

..........

240

238,517

6.00

%

,

12/01/27

-

09/01/53

..........

336

336,302

6.00

%

,

10/25/53

(n)

................

150

148,031

6.50

%

,

05/01/40

.................

41

42,176

Total

U.S.

Government

Sponsored

Agency

Securities

—

8

.2

%

(Cost:

$

38,151,183

)

..............................

34,048,546

U.S.

Treasury

Obligations

U.S.

Treasury

Bonds

4.25

%

,

05/15/39

.................

66

62,210

4.50

%

,

08/15/39

.................

82

79,418

4.38

%

,

11/15/39

.................

82

78,031

1.13

%

,

05/15/40

-

08/15/40

..........

694

396,421

1.38

%

,

11/15/40

.................

347

205,367

2.25

%

,

05/15/41

-

02/15/52

..........

13,000

8,195,000

2.38

%

,

02/15/42

.................

4,000

2,764,844

3.13

%

,

02/15/43

.................

332

257,015

2.88

%

,

05/15/43

-

11/15/46

..........

597

436,289

3.63

%

,

08/15/43

.................

332

277,039

3.75

%

,

11/15/43

.................

332

281,811

2.50

%

,

02/15/45

.................

593

402,684

3.00

%

,

02/15/47

.................

1,500

1,101,445

1.63

%

,

11/15/50

.................

3

1,571

1.88

%

,

11/15/51

.................

1,000

557,383

U.S.

Treasury

Inflation

Linked

Notes

,

1.25

%

,

04/15/28

.................

2,650

2,519,165

U.S.

Treasury

Notes

0.50

%

,

05/31/27

.................

129

110,834

2.25

%

,

08/15/27

.................

798

729,235

1.25

%

,

03/31/28

-

09/30/28

..........

1,047

902,422

2.88

%

,

08/15/28

.................

188

173,599

3.13

%

,

11/15/28

.................

386

359,417

1.75

%

,

01/31/29

-

11/15/29

..........

1,239

1,053,882

2.63

%

,

02/15/29

.................

63

56,990

1.88

%

,

02/28/29

-

02/15/32

..........

12,352

10,498,143

2.38

%

,

05/15/29

.................

7,063

6,276,689

1.63

%

,

08/15/29

-

05/15/31

..........

952

799,600

1.50

%

,

02/15/30

.................

1,276

1,057,684

1.13

%

,

02/15/31

.................

235

185,356

1.38

%

,

11/15/31

.................

43

33,705

Total

U.S.

Treasury

Obligations

—

9

.6

%

(Cost:

$

50,257,781

)

..............................

39,853,249

Total

Long-Term

Investments

—

97.3%

(Cost:

$

419,196,063

)

.............................

404,518,119

Shares

Shares

Short-Term

Securities

Money

Market

Funds

—

2.3%

(k)(o)

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

,

5.23

%

...................

7,232,938

7,232,938

SL

Liquidity

Series,

LLC,

Money

Market

Series

,

5.52

%

(p)

.......................

2,349,668

2,350,372

Total

Money

Market

Funds

—

2

.3

%

(Cost:

$

9,583,310

)

..............................

9,583,310

Security

Par

(000)

Pa

r

(

000)

Value

U.S.

Treasury

Obligations

—

2.5%

U.S.

Treasury

Bills

(q)

5.02

%

,

11/09/23

.................

USD

1,225

$

1,218,153

5.16

%

,

11/16/23

.................

1,100

1,092,719

5.39

%

,

12/19/23

.................

300

296,550

5.42

%

,

12/28/23

.................

2,000

1,974,287

5.37

%

,

01/04/24

.................

3,600

3,550,133

5.38

%

,

01/11/24

.................

1,400

1,379,173

5.41

%

,

01/18/24

.................

100

98,409

5.35

%

,

01/25/24

.................

600

589,818

5.40

%

,

02/08/24

.................

300

294,300

Total

U.S.

Treasury

Obligations

—

2

.5

%

(Cost:

$

10,494,081

)

..............................

10,493,542

Total

Short-Term

Securities

—

4.8%

(Cost:

$

20,077,391

)

..............................

20,076,852

Total

Investments

Before

TBA

Sale

Commitments

and

Investments

Sold

Short

—

102

.1

%

(Cost:

$

439,273,454

)

.............................

424,594,971

TBA

Sale

Commitments

Mortgage-Backed

Securities

—

(0.0)

%

Uniform

Mortgage-Backed

Securities

,

6.00

%

,

10/25/53

(n)

................

(

25

)

(

24,672

)

Total

TBA

Sale

Commitments

—

(0.0)

%

(Proceeds:

$

(

24,973

)

)

............................

(24,672)

Investments

Sold

Short

U.S.

Treasury

Obligations

U.S.

Treasury

Notes

3.13

%

,

11/15/28

.................

(

23

)

(

21,416

)

1.63

%

,

08/15/29

.................

(

460

)

(

390,353

)

1.50

%

,

02/15/30

.................

(

1,253

)

(

1,038,620

)

1.13

%

,

02/15/31

.................

(

56

)

(

44,170

)

1.38

%

,

11/15/31

.................

(

40

)

(

31,353

)

Total

U.S.

Treasury

Obligations

—

(

0

.3

)

%

(Proceeds:

$

(

1,857,180

)

)

..........................

(1,525,912)

Total

Investments

Sold

Short

—

(

0

.3

)

%

(Proceeds:

$

(

1,857,180

)

)

..........................

(

1,525,912

)

Total

Investments

Net

of

TBA

Sale

Commitments

and

Investments

Sold

Short

—

101

.8

%

(Cost:

$

437,391,301

)

.............................

423,044,387

Liabilities

in

Excess

of

Other

Assets

—

(

1.8

)

%

............

(

7,340,039

)

Net

Assets

—

100.0%

..............................

$

415,704,348

(a)

Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

period

end.

Security

description

also

includes

the

reference

rate

and

spread

if

published

and

available.

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

16

Affiliates

Investments

in

issuers

considered

to

be

affiliate(s)

of

the

Fund

during

the period

ended

September

30,

2023

for

purposes

of

Section

2(a)(3)

of

the

Investment

Company

Act

of

1940,

as

amended,

were

as

follows:

(b)

Rounds

to

less

than

1,000.

(c)

Step

coupon

security.

Coupon

rate

will

either

increase

(step-up

bond)

or

decrease

(step-down

bond)

at

regular

intervals

until

maturity.

Interest

rate

shown

reflects

the

rate

currently

in

effect.

(d)

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.

(e)

Non-income

producing

security.

(f)

This

security

may

be

resold

to

qualified

foreign

investors

and

foreign

institutional

buyers

under

Regulation

S

of

the

Securities

Act

of

1933.

(g)

All

or

a

portion

of

this

security

is

on

loan.

(h)

Perpetual

security

with

no

stated

maturity

date.

(i)

Issuer

filed

for

bankruptcy

and/or

is

in

default.

(j)

Security

is

valued

using

significant

unobservable

inputs

and

is

classified

as

Level

3

in

the

fair

value

hierarchy.

(k)

Affiliate

of

the

Fund.

(l)

Zero-coupon

bond.

(m)

Other

interests

represent

beneficial

interests

in

liquidation

trusts

and

other

reorganization

or

private

entities.

(n)

Represents

or

includes

a

TBA

transaction.

(o)

Annualized

7-day

yield

as

of

period

end.

(p)

All

or

a

portion

of

this

security

was

purchased

with

the

cash

collateral

from

loaned

securities.

(q)

Rates

are

discount

rates

or

a

range

of

discount

rates

as

of

period

end.

Affiliated

Issuer

Value

at

12/31/22

Purchases

at

Cost

Proceeds

from

Sale

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

09/30/23

Shares

Held

at

09/30/23

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

...

$

21,365,821

$

—

$

(

14,132,883

)

(a)

$

—

$

—

$

7,232,938

7,232,938

$

470,604

$

—

SL

Liquidity

Series,

LLC,

Money

Market

Series

...........

8,141,813

—

(

5,794,476

)

(a)

3,750

(

715

)

2,350,372

2,349,668

26,100

(b)

—

iShares

MSCI

India

ETF

(c)

.....

2,777,296

502,980

(

3,218,244

)

(

339,700

)

277,668

—

—

—

—

iShares

Russell

1000

Value

ETF

—

8,730,480

—

—

(

348,194

)

8,382,286

55,212

131,162

—

$

(

335,950

)

$

(

71,241

)

$

17,965,596

$

627,866

$

—

—

—

(a)

Represents

net

amount

purchased

(sold).

(b)

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.

(c)

As

of

period

end,

the

entity

is

no

longer

held.

For

Fund

compliance

purposes,

the

Fund's

industry

classifications

refer

to

one

or

more

of

the

industry

sub-classifications

used

by

one

or

more

widely

recognized

market

indexes

or

rating

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.

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

17

Derivative

Financial

Instruments

Outstanding

as

of

Period

End

Futures

Contracts

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

(000)

Value/

Unrealized

Appreciation

(Depreciation)

Long

Contracts

S&P/TSX

60

Index

.........................................................

3

12/14/23

$

520

$

(15,526)

MSCI

EAFE

E-Mini

Index

.....................................................

5

12/15/23

510

(15,162)

MSCI

Emerging

Markets

E-Mini

Index

............................................

5

12/15/23

239

(7,022)

S&P

500

E-Mini

Index

.......................................................

6

12/15/23

1,298

(52,214)

U.S.

Treasury

10-Year

Note

...................................................

29

12/19/23

3,132

(56,041)

U.S.

Treasury

Long

Bond

.....................................................

52

12/19/23

5,920

(334,680)

U.S.

Treasury

2-Year

Note

....................................................

86

12/29/23

17,432

(61,409)

(542,054)

Short

Contracts

MSCI

EAFE

E-Mini

Index

.....................................................

24

12/15/23

2,450

59,583

MSCI

Emerging

Markets

E-Mini

Index

............................................

40

12/15/23

1,911

48,047

S&P

500

E-Mini

Index

.......................................................

46

12/15/23

9,949

413,754

U.S.

Treasury

10-Year

Note

...................................................

135

12/19/23

14,582

309,094

U.S.

Treasury

10-Year

Ultra

Note

...............................................

42

12/19/23

4,684

141,967

U.S.

Treasury

Long

Bond

.....................................................

75

12/19/23

8,538

461,214

U.S.

Treasury

Ultra

Bond

.....................................................

38

12/19/23

4,517

314,006

U.S.

Treasury

5-Year

Note

....................................................

30

12/29/23

3,160

29,922

1,777,587

$

1,235,533

Forward

Foreign

Currency

Exchange

Contracts

Currency

Purchased

Currency

Sold

Counterparty

Settlement

Date

Unrealized

Appreciation  

(Depreciation)

AUD

6,616,796

USD

4,236,092

BNP

Paribas

SA

12/20/23

$

30,046

CAD

5,860,654

USD

4,298,604

BNP

Paribas

SA

12/20/23

21,792

USD

121,648

EUR

113,000

Barclays

Bank

plc

12/20/23

1,725

USD

123,897

GBP

99,100

Standard

Chartered

Bank

12/20/23

2,916

USD

1,162,929

JPY

168,903,000

Bank

of

America

NA

12/20/23

17,554

74,033

EUR

7,594,727

USD

8,176,977

Barclays

Bank

plc

12/20/23

(116,956)

$

(42,923)

Centrally

Cleared

Credit

Default

Swaps

—

Buy

Protection

Reference

Obligation/Index

Financing

Rate

Paid

by

the

Fund

Payment

Frequency

Termination

Date

Notional

Amount

(000)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

Markit

CDX

North

American

Investment

Grade

Index

Series

41.V1

................

1.00

%

Quarterly

12/20/28

USD

21,000

$

(257,379)

$

(304,007)

$

46,628

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

18

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:

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);

and

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.

Certain

investments

of

the

Fund

were

fair

valued

using

net

asset

value

("NAV")

as

a

practical

expedient

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.

OTC

Total

Return

Swaps

Paid

by

the

Fund

Received

by

the

Fund

Rate/Reference

Frequency

Rate/Reference

Frequency

Counterparty

Termination

Date

Notional

Amount

(000)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

1-day

SOFR

minus

0.02%

.........

Quarterly

MSCI

ACWI

ESG

Universal

Index

Quarterly

BNP

Paribas

SA

04/03/24

USD

25,195

$

(1,269,252)

$

—

$

(1,269,252)

The

following

reference

rates,

and

their

values

as

of

period

end,

are

used

for

security

descriptions:

Reference

Index

Reference

Rate

1-day

SOFR

.........................................

Secured

Overnight

Financing

Rate

5.32

%

Level

1

Level

2

Level

3

Total

Assets

Investments

Long-Term

Investments

Asset-Backed

Securities

...................................

$

—

$

814,224

$

—

$

814,224

Common

Stocks

Aerospace

&

Defense

....................................

22,376

701,632

—

724,008

Air

Freight

&

Logistics

....................................

70,204

333,027

—

403,231

Automobile

Components

..................................

133,941

241,041

—

374,982

Automobiles

..........................................

4,938,935

3,861,582

—

8,800,517

Banks

...............................................

4,614,893

10,597,888

—

15,212,781

Beverages

...........................................

5,331,626

1,080,996

—

6,412,622

Biotechnology

.........................................

3,140,364

613,679

—

3,754,043

Broadline

Retail

........................................

8,735,504

1,081,957

—

9,817,461

Building

Products

.......................................

601,867

—

—

601,867

Capital

Markets

........................................

4,916,760

1,256,858

—

6,173,618

Chemicals

............................................

410,783

1,926,678

—

2,337,461

Commercial

Services

&

Supplies

.............................

647,067

—

—

647,067

Communications

Equipment

................................

646,948

473,926

—

1,120,874

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

19

Level

1

Level

2

Level

3

Total

Construction

&

Engineering

................................

$

3,086,058

$

266,813

$

—

$

3,352,871

Consumer

Finance

......................................

1,803,558

16,415

—

1,819,973

Consumer

Staples

Distribution

&

Retail

........................

4,438,938

1,663,492

—

6,102,430

Containers

&

Packaging

..................................

128,416

—

—

128,416

Diversified

Consumer

Services

..............................

50,273

30,182

—

80,455

Diversified

Telecommunication

Services

........................

—

1,036,387

—

1,036,387

Electric

Utilities

........................................

350,530

1,954,223

—

2,304,753

Electrical

Equipment

.....................................

—

2,864,688

—

2,864,688

Electronic

Equipment,

Instruments

&

Components

.................

430,404

1,232,249

—

1,662,653

Energy

Equipment

&

Services

..............................

—

41,370

—

41,370

Entertainment

.........................................

1,184,754

1,129,826

—

2,314,580

Financial

Services

......................................

4,952,322

167,527

—

5,119,849

Food

Products

.........................................

1,982,221

2,991,091

—

4,973,312

Gas

Utilities

...........................................

13,179

19,718

—

32,897

Ground

Transportation

...................................

1,168,457

—

—

1,168,457

Health

Care

Equipment

&

Supplies

...........................

4,867,595

98,216

—

4,965,811

Health

Care

Providers

&

Services

............................

5,517,883

—

—

5,517,883

Health

Care

Technology

..................................

94,400

—

—

94,400

Hotels,

Restaurants

&

Leisure

..............................

1,936,419

1,774,836

—

3,711,255

Household

Durables

.....................................

46,320

858,717

—

905,037

Household

Products

.....................................

983,096

—

—

983,096

Independent

Power

and

Renewable

Electricity

Producers

............

100,785

—

—

100,785

Industrial

Conglomerates

..................................

5,674,465

1,584,241

—

7,258,706

Industrial

REITs

........................................

—

437,848

—

437,848

Insurance

............................................

5,131,996

2,371,114

—

7,503,110

Interactive

Media

&

Services

...............................

9,505,871

2,651,131

—

12,157,002

IT

Services

...........................................

3,247,868

72,280

—

3,320,148

Leisure

Products

.......................................

—

348,562

—

348,562

Life

Sciences

Tools

&

Services

..............................

1,920,540

123,175

—

2,043,715

Machinery

............................................

2,211,708

1,008,970

—

3,220,678

Marine

Transportation

....................................

—

662,285

—

662,285

Media

...............................................

590,346

—

—

590,346

Metals

&

Mining

........................................

1,378,711

2,957,796

—

4,336,507

Multi-Utilities

..........................................

—

1,090,350

—

1,090,350

Oil,

Gas

&

Consumable

Fuels

...............................

9,689,969

909,444

—

10,599,413

Paper

&

Forest

Products

..................................

19,602

—

—

19,602

Passenger

Airlines

......................................

—

724,881

—

724,881

Personal

Care

Products

..................................

9,253

559,194

—

568,447

Pharmaceuticals

.......................................

5,709,687

7,001,006

—

12,710,693

Professional

Services

....................................

1,636,660

2,511,420

—

4,148,080

Real

Estate

Management

&

Development

.......................

453,550

2,445,470

—

2,899,020

Retail

REITs

..........................................

—

63,834

—

63,834

Semiconductors

&

Semiconductor

Equipment

....................

10,431,628

2,744,865

—

13,176,493

Software

.............................................

16,084,812

2,336,117

—

18,420,929

Specialized

REITs

......................................

566,781

—

—

566,781

Specialty

Retail

........................................

2,836,553

255,408

—

3,091,961

Technology

Hardware,

Storage

&

Peripherals

....................

14,837,693

1,053,576

—

15,891,269

Textiles,

Apparel

&

Luxury

Goods

............................

2,381,291

1,964,964

—

4,346,255

Trading

Companies

&

Distributors

............................

551,776

151,343

—

703,119

Transportation

Infrastructure

...............................

86,746

186,588

—

273,334

Water

Utilities

.........................................

150,299

307,918

—

458,217

Wireless

Telecommunication

Services

.........................

142,075

521,370

—

663,445

Corporate

Bonds

Aerospace

&

Defense

....................................

—

72,364

—

72,364

Air

Freight

&

Logistics

....................................

—

45,149

—

45,149

Automobile

Components

..................................

—

202,996

—

202,996

Automobiles

..........................................

—

254,487

—

254,487

Banks

...............................................

—

16,756,779

250

16,757,029

Beverages

...........................................

—

4,790,452

—

4,790,452

Biotechnology

.........................................

—

2,954,977

—

2,954,977

Broadline

Retail

........................................

—

153,207

—

153,207

Building

Products

.......................................

—

1,607,220

—

1,607,220

Capital

Markets

........................................

—

8,741,877

—

8,741,877

Chemicals

............................................

—

131,914

—

131,914

Fair

Value

Hierarchy

as

of

Period

End

(continued)

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

20

Level

1

Level

2

Level

3

Total

Commercial

Services

&

Supplies

.............................

$

—

$

236,331

$

—

$

236,331

Communications

Equipment

................................

—

1,204,181

—

1,204,181

Construction

&

Engineering

................................

—

990,643

—

990,643

Construction

Materials

....................................

—

29,663

—

29,663

Consumer

Finance

......................................

—

1,523,724

—

1,523,724

Consumer

Staples

Distribution

&

Retail

........................

—

66,221

—

66,221

Diversified

REITs

.......................................

—

925,863

—

925,863

Diversified

Telecommunication

Services

........................

—

263,580

—

263,580

Electric

Utilities

........................................

—

1,860,013

—

1,860,013

Electronic

Equipment,

Instruments

&

Components

.................

—

811,401

—

811,401

Energy

Equipment

&

Services

..............................

—

218,503

—

218,503

Entertainment

.........................................

—

94,789

—

94,789

Financial

Services

......................................

—

1,404,799

—

1,404,799

Food

Products

.........................................

—

1,591,400

—

1,591,400

Gas

Utilities

...........................................

—

250,884

—

250,884

Ground

Transportation

...................................

—

167,259

—

167,259

Health

Care

Equipment

&

Supplies

...........................

—

1,283,116

—

1,283,116

Health

Care

Providers

&

Services

............................

—

4,823,838

—

4,823,838

Health

Care

REITs

......................................

—

289,852

—

289,852

Health

Care

Technology

..................................

—

777,232

—

777,232

Hotels,

Restaurants

&

Leisure

..............................

—

1,105,553

—

1,105,553

Household

Durables

.....................................

—

1,347,286

—

1,347,286

Household

Products

.....................................

—

13,095

—

13,095

Industrial

Conglomerates

..................................

—

793,855

—

793,855

Insurance

............................................

—

2,356,618

—

2,356,618

IT

Services

...........................................

—

1,340,749

—

1,340,749

Life

Sciences

Tools

&

Services

..............................

—

15,943

—

15,943

Machinery

............................................

—

528,932

—

528,932

Media

...............................................

—

444,810

—

444,810

Metals

&

Mining

........................................

—

1,222,500

—

1,222,500

Office

REITs

..........................................

—

18,225

—

18,225

Oil,

Gas

&

Consumable

Fuels

...............................

—

961,483

—

961,483

Paper

&

Forest

Products

..................................

—

113,137

—

113,137

Passenger

Airlines

......................................

—

179,532

—

179,532

Pharmaceuticals

.......................................

—

3,610,972

—

3,610,972

Professional

Services

....................................

—

1,848,306

—

1,848,306

Real

Estate

Management

&

Development

.......................

—

764,489

—

764,489

Retail

REITs

..........................................

—

38,195

—

38,195

Semiconductors

&

Semiconductor

Equipment

....................

—

3,455,064

—

3,455,064

Software

.............................................

—

4,626,942

—

4,626,942

Specialized

REITs

......................................

—

570,443

—

570,443

Specialty

Retail

........................................

—

1,300,285

—

1,300,285

Technology

Hardware,

Storage

&

Peripherals

....................

—

256,580

—

256,580

Transportation

Infrastructure

...............................

—

238,541

—

238,541

Floating

Rate

Loan

Interests

.................................

—

—

770

770

Investment

Companies

....................................

8,382,286

—

—

8,382,286

Non-Agency

Mortgage-Backed

Securities

........................

—

667,506

—

667,506

Other

Interests

..........................................

—

—

—

—

Preferred

Securities

Banks

...............................................

364,853

—

—

364,853

Chemicals

............................................

323,402

—

—

323,402

Electrical

Equipment

.....................................

—

307,067

—

307,067

Passenger

Airlines

......................................

122,494

—

—

122,494

Rights

................................................

303

—

—

303

U.S.

Government

Sponsored

Agency

Securities

....................

—

34,048,546

—

34,048,546

U.S.

Treasury

Obligations

...................................

—

39,853,249

—

39,853,249

Short-Term

Securities

Money

Market

Funds

......................................

7,232,938

—

—

7,232,938

U.S.

Treasury

Obligations

...................................

—

10,493,542

—

10,493,542

Liabilities

Investments

TBA

Sale

Commitments

....................................

—

(24,672)

—

(24,672)

Investment

Sold

Short

Fair

Value

Hierarchy

as

of

Period

End

(continued)

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2023

BlackRock

Sustainable

Balanced

Portfolio

21

Level

1

Level

2

Level

3

Total

U.S.

Treasury

Obligations

...................................

$

—

$

(1,525,912)

$

—

$

(1,525,912)

$

179,023,032

$

241,669,963

$

1,020

$

420,694,015

Investments

Valued

at

NAV

(a)

......................................

2,350,372

$

423,044,387

Derivative

Financial

Instruments

(b)

Assets

Credit

contracts

...........................................

$

—

$

46,628

$

—

$

46,628

Equity

contracts

...........................................

521,384

—

—

521,384

Foreign

currency

exchange

contracts

............................

—

74,033

—

74,033

Interest

rate

contracts

.......................................

1,256,203

—

—

1,256,203

Liabilities

Equity

contracts

...........................................

(89,924)

(1,269,252)

—

(1,359,176

)

Foreign

currency

exchange

contracts

............................

—

(116,956)

—

(116,956)

Interest

rate

contracts

.......................................

(452,130)

—

—

(452,130)

$

1,235,533

$

(1,265,547)

$

—

$

(30,014)

(a)

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.

(b)

Derivative

financial

instruments

are

swaps,

futures

contracts

and

forward

foreign

currency

exchange

contracts.

Swaps,

futures

contracts

and

forward

foreign

currency

exchange

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

Currency

Abbreviation

AUD

Australian

Dollar

BRL

Brazilian

Real

CAD

Canadian

Dollar

EUR

Euro

GBP

British

Pound

JPY

Japanese

Yen

USD

United

States

Dollar

Portfolio

Abbreviation

ABS

Asset-Backed

Security

ADR

American

Depositary

Receipts

CMT

Constant

Maturity

Treasury

CSMC

Credit

Suisse

Mortgage

Capital

CVA

Certification

Van

Aandelon

(Dutch

Certificate)

DAC

Designated

Activity

Company

ETF

Exchange-Traded

Fund

LIBOR

London

Interbank

Offered

Rate

MSCI

Morgan

Stanley

Capital

International

OTC

Over-the-counter

REIT

Real

Estate

Investment

Trust

SCA

Svenska

Cellulosa

Aktiebolaget

SOFR

Secured

Overnight

Financing

Rate

TBA

To-be-announced

Fair

Value

Hierarchy

as

of

Period

End

(continued)