0001752724-22-268682.txt : 20221128 0001752724-22-268682.hdr.sgml : 20221128 20221128102036 ACCESSION NUMBER: 0001752724-22-268682 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220930 FILED AS OF DATE: 20221128 DATE AS OF CHANGE: 20221128 PERIOD START: 20221231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Variable Series Funds, Inc. CENTRAL INDEX KEY: 0000355916 IRS NUMBER: 133093080 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-03290 FILM NUMBER: 221421763 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: FAM Variable Series Funds, Inc. DATE OF NAME CHANGE: 20050720 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH VARIABLE SERIES FUNDS INC DATE OF NAME CHANGE: 19920703 0000355916 S000002881 BlackRock International V.I. Fund C000007920 Class I NPORT-P 1 primary_doc.xml NPORT-P false 0000355916 XXXXXXXX S000002881 C000007920 BlackRock Variable Series Funds, Inc. 811-03290 0000355916 5493007IJN5JRPJ1DF61 100 Bellevue Parkway Wilmington 19809 800-441-7762 BlackRock International V.I. Fund S000002881 549300P90Z65O6PJRH39 2022-12-31 2022-09-30 N 67159806.64 3442398.69 63717407.95 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 55214.96000000 N MSCI EAFE Index GDDUEAFE Vestas Wind Systems A/S 549300DYMC8BGZZC8844 Vestas Wind Systems A/S N/A 69061.00000000 NS 1271610.57000000 1.995703546192 Long EC CORP DK N 2 N N N Sony Group Corp. 529900R5WX9N2OI2N910 Sony Group Corp. N/A 58000.00000000 NS 3736039.05000000 5.863451088487 Long EC CORP JP N 2 N N N Recruit Holdings Co. Ltd. 353800R2LRSMVVC4I806 Recruit Holdings Co. Ltd. N/A 88600.00000000 NS 2552180.99000000 4.005468948144 Long EC CORP JP N 2 N N N Industria de Diseno Textil SA 549300TTCXZOGZM2EY83 Industria de Diseno Textil SA N/A 21243.00000000 NS 438384.10000000 0.688013078535 Long EC CORP ES N 2 N N N Kering SA 549300VGEJKB7SVUZR78 Kering SA N/A 5225.00000000 NS 2317542.15000000 3.637219756049 Long EC CORP FR N 2 N N N Prudential plc 5493001Z3ZE83NGK8Y12 Prudential plc N/A 26923.00000000 NS 263512.50000000 0.413564375071 Long EC CORP GB N 2 N N N Daiichi Sankyo Co. Ltd. 353800XGIU2IHQGC9504 Daiichi Sankyo Co. Ltd. N/A 84400.00000000 NS 2359053.18000000 3.702368404331 Long EC CORP JP N 2 N N N Air Liquide SA 969500MMPQVHK671GT54 Air Liquide SA N/A 26431.00000000 NS 3021039.86000000 4.741310039433 Long EC CORP FR N 2 N N N Canadian National Railway Co. 3SU7BEP7TH9YEQOZCS77 Canadian National Railway Co. 136375102 17326.00000000 NS 1871135.25000000 2.936615455965 Long EC CORP CA N 1 N N N GXO Logistics, Inc. 5493007CNWMXN78JRN66 GXO Logistics, Inc. 36262G101 29207.00000000 NS USD 1023997.42000000 1.607092085107 Long EC CORP US N 1 N N N Tencent Holdings Ltd. 254900N4SLUMW4XUYY11 Tencent Holdings Ltd. N/A 81200.00000000 NS 2742637.10000000 4.304376446311 Long EC CORP KY N 2 N N N N/A N/A Forward Foreign Currency Contract N/A 1.00000000 NC N/A 162879.98000000 0.255628697463 N/A DFE N/A N 2 JP Morgan Chase Bank 7H6GLXDRUGQFU57RNE97 7218311.00000000 EUR 7276418.40000000 USD 2022-12-14 162879.98000000 N N N BlackRock Liquidity Funds 5493002L9DNZ83RX7V61 T-Fund, Institutional Class 09248U718 7549394.11000000 NS USD 7549394.11000000 11.84824422852 Long STIV RF US N 1 N N N ASML Holding NV 724500Y6DUVHQD6OXN27 ASML Holding NV N/A 7115.00000000 NS 2947595.56000000 4.626044365007 Long EC CORP NL N 2 N N N Intesa Sanpaolo SpA 2W8N8UU78PMDQKZENC08 Intesa Sanpaolo SpA N/A 1384874.00000000 NS 2289219.08000000 3.592768685437 Long EC CORP IT N 2 N N N Koninklijke DSM NV 724500SNT1MK246AHP04 Koninklijke DSM NV N/A 26968.00000000 NS 3068703.73000000 4.816115138280 Long EC CORP NL N 2 N N N Novo Nordisk A/S 549300DAQ1CVT6CXN342 Novo Nordisk A/S, Class B N/A 34493.00000000 NS 3436117.00000000 5.392744479964 Long EC CORP DK N 2 N N N Roche Holding AG 549300U41AUUVOAAOB37 Roche Holding AG N/A 12635.00000000 NS 4113106.59000000 6.455232129385 Long EC CORP CH N 2 N N N Epiroc AB 5493004Q73OEYW1SPE91 Epiroc AB, Class A N/A 83002.00000000 NS 1187385.23000000 1.863517786115 Long EC CORP SE N 2 N N N Infineon Technologies AG TSI2PJM6EPETEQ4X1U25 Infineon Technologies AG N/A 100851.00000000 NS 2207026.70000000 3.463773513404 Long EC CORP DE N 2 N N N UniCredit SpA 549300TRUWO2CD2G5692 UniCredit SpA N/A 150254.00000000 NS 1521184.41000000 2.387392172628 Long EC CORP IT N 2 N N N Standard Chartered plc U4LOSYZ7YG4W3S5F2G91 Standard Chartered plc N/A 299398.00000000 NS 1872601.46000000 2.938916569659 Long EC CORP GB N 2 N N N Lonza Group AG 549300EFW4H2TCZ71055 Lonza Group AG (Registered) N/A 1115.00000000 NS 542883.77000000 0.852017976666 Long EC CORP CH N 2 N N N Baker Hughes Co. N/A Baker Hughes Co. 05722G100 84733.00000000 NS USD 1776003.68000000 2.787313133317 Long EC CORP US N 1 N N N Cellnex Telecom SA 5493008T4YG3AQUI7P67 Cellnex Telecom SA N/A 40148.00000000 NS 1238428.90000000 1.943627243863 Long EC CORP ES N 2 N N N Thermo Fisher Scientific, Inc. HCHV7422L5HDJZCRFL38 Thermo Fisher Scientific, Inc. 883556102 4574.00000000 NS USD 2319887.06000000 3.640899927725 Long EC CORP US N 1 N N N Marel HF 5299008YTLEN09WTHW26 Marel HF N/A 342662.00000000 NS 1041060.27000000 1.633871030687 Long EC CORP IS N 1 N N N SL Liquidity Series, LLC 549300I0RQO84VDWQP47 Money Market Series N/A 802343.18310000 NS USD 802343.18000000 1.259221311434 Long STIV RF US N N/A N N Suncor Energy, Inc. 549300W70ZOQDVLCHY06 Suncor Energy, Inc. 867224107 73542.00000000 NS 2071005.76000000 3.250298194215 Long EC CORP CA N 1 N N N MTU Aero Engines AG 529900807L67JY81RD65 MTU Aero Engines AG N/A 7473.00000000 NS 1116874.26000000 1.752855767259 Long EC CORP DE N 2 N N N Equinix, Inc. 549300EVUN2BTLJ3GT74 Equinix, Inc. 29444U700 3354.00000000 NS USD 1907889.36000000 2.994298452154 Long EC CORP US N 1 N N N 2022-09-30 BlackRock Variable Series Funds, Inc. Ann Frechette Ann Frechette Assistant Treasurer XXXX NPORT-EX 2 9.30.22_Int_VI_Part_F.htm
BlackRock
International
V.I.
Fund
2
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
September
30,
2022
Security
Shares
Shares
Value
Common
Stocks
Canada
—
6.2%
Canadian
National
Railway
Co.
....
17,326
$
1,871,135
Suncor
Energy,
Inc.
............
73,542
2,071,006
3,942,141
China
—
4.4%
Tencent
Holdings
Ltd.
...........
84,000
2,837,211
Denmark
—
7.4%
Novo
Nordisk
A/S,
Class
B
.......
34,493
3,436,117
Vestas
Wind
Systems
A/S
........
69,061
1,271,611
4,707,728
France
—
8.4%
Air
Liquide
SA
................
26,431
3,021,040
Kering
SA
...................
5,225
2,317,542
5,338,582
Germany
—
5.2%
Infineon
Technologies
AG
........
100,851
2,207,027
MTU
Aero
Engines
AG
..........
7,473
1,116,874
3,323,901
Hong
Kong
—
0.9%
Prudential
plc
................
58,595
573,507
Iceland
—
1.6%
Marel
HF
(a)(b)
.................
342,662
1,041,060
Italy
—
6.0%
Intesa
Sanpaolo
SpA
...........
1,384,874
2,289,219
UniCredit
SpA
................
150,254
1,521,185
3,810,404
Japan
—
14.0%
Daiichi
Sankyo
Co.
Ltd.
..........
87,400
2,442,906
Recruit
Holdings
Co.
Ltd.
........
91,700
2,641,478
Sony
Group
Corp.
.............
60,000
3,864,868
8,949,252
Netherlands
—
9.4%
ASML
Holding
NV
.............
7,115
2,947,595
Koninklijke
DSM
NV
............
26,968
3,068,704
6,016,299
Spain
—
2.7%
Cellnex
Telecom
SA
(a)(b)
..........
31,324
966,239
Industria
de
Diseno
Textil
SA
......
35,737
737,491
1,703,730
Sweden
—
1.9%
Epiroc
AB,
Class
A
.............
83,002
1,187,385
Switzerland
—
1.2%
Lonza
Group
AG
(Registered)
.....
1,645
800,936
United
Kingdom
—
2.9%
Standard
Chartered
plc
..........
299,398
1,872,601
United
States
—
17.2%
Baker
Hughes
Co.
.............
84,733
1,776,004
Equinix
,
Inc.
.................
3,354
1,907,889
GXO
Logistics,
Inc.
(c)
...........
25,721
901,778
Roche
Holding
AG
.............
12,635
4,113,107
Security
Shares
Shares
Value
United
States
(continued)
Thermo
Fisher
Scientific,
Inc.
......
4,574
$
2,319,887
11,018,665
Total
Common
Stocks
—
89.4%
(Cost:
$74,708,488)
..............................
57,123,402
Total
Long-Term
Investments
—
89.4%
(Cost:
$74,708,488)
..............................
57,123,402
Short-Term
Securities
Money
Market
Funds
—
13.1%
(d)(e)
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class,
2.79%
......
7,549,394
7,549,394
SL
Liquidity
Series,
LLC,
Money
Market
Series,
3.29%
(f)
.............
802,343
802,343
Total
Money
Market
Funds
—
13.1%
(Cost:
$8,351,737)
..............................
8,351,737
Par
(000)
Pa
r
(
000)
Time
Deposits
—
0.0%
Canada
—
0.0%
Brown
Brothers
Harriman
&
Co.,
2.07%, 10/03/22
............
CAD
11
7,825
Total
Time
Deposits
—
0.0%
(Cost:
$7,825)
.................................
7,825
Total
Short-Term
Securities
—
13.1%
(Cost:
$8,359,562)
..............................
8,359,562
Total
Investments
—
102.5%
(Cost:
$83,068,050)
..............................
65,482,964
Liabilities
in
Excess
of
Other
Assets
—
(2.5)%
............
(1,577,897)
Net
Assets
—
100.0%
..............................
$
63,905,067
BlackRock
International
V.I.
Fund
3
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
(a)
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.
(b)
This
security
may
be
resold
to
qualified
foreign
investors
and
foreign
institutional
buyers
under
Regulation
S
of
the
Securities
Act
of
1933.
(c)
Non-income
producing
security.
(d)
Affiliate
of
the
Fund.
(e)
Annualized
7-day
yield
as
of
period
end.
(f)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the
period
ended
September
30,
2022
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
12/31/21
Purchases
at
Cost
Proceeds
from
Sale
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
09/30/22
Shares
Held
at
09/30/22
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class
...
$
249,992
$
7,299,402
(a)
$
—
$
—
$
—
$
7,549,394
7,549,394
$
29,970
$
—
SL
Liquidity
Series,
LLC,
Money
Market
Series
...........
3,622,099
—
(2,819,473)
(a)
(283)
—
802,343
802,343
25,949
(b)
—
$
(283)
$
—
$
8,351,737
$
55,919
$
—
—
—
(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.
BlackRock
International
V.I.
Fund
4
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
i
Forward
Foreign
Currency
Exchange
Contracts
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation  
(Depreciation)
USD
7,276,418
EUR
7,218,311
JPMorgan
Chase
Bank
NA
12/14/22
$
162,880
Glossary
of
Terms
Used
in
this
Report
Currency
Abbreviation
CAD
Canadian
Dollar
EUR
Euro
USD
United
States
Dollar
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")
per
share
as
no
quoted
market
value
is
available
and
therefore
have
been
excluded
from
the
fair
value
hierarchy.
The
following
table
summarizes
the
Fund’s
financial
instruments
categorized
in
the
fair
value
hierarchy.
The
breakdown
of
the
Fund's
financial
instruments
into
major
categories
is
disclosed
in
the
Schedule
of
Investments
above.
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Common
Stocks
Canada
.............................................
$
3,942,141
$
—
$
—
$
3,942,141
China
...............................................
—
2,837,211
—
2,837,211
Denmark
.............................................
—
4,707,728
—
4,707,728
France
..............................................
—
5,338,582
—
5,338,582
Germany
............................................
—
3,323,901
—
3,323,901
Hong
Kong
...........................................
—
573,507
—
573,507
BlackRock
International
V.I.
Fund
5
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Level
1
Level
2
Level
3
Total
Iceland
..............................................
$
1,041,060
$
—
$
—
$
1,041,060
Italy
................................................
—
3,810,404
—
3,810,404
Japan
...............................................
—
8,949,252
—
8,949,252
Netherlands
...........................................
—
6,016,299
—
6,016,299
Spain
...............................................
—
1,703,730
—
1,703,730
Sweden
.............................................
—
1,187,385
—
1,187,385
Switzerland
...........................................
—
800,936
—
800,936
United
Kingdom
........................................
—
1,872,601
—
1,872,601
United
States
..........................................
6,905,558
4,113,107
—
11,018,665
Short-Term
Securities
Money
Market
Funds
......................................
7,549,394
—
—
7,549,394
Time
Deposits
..........................................
—
7,825
—
7,825
$
19,438,153
$
45,242,468
$
—
$
64,680,621
Investments
Valued
at
NAV
(a)
.....................................
802,343
$
—
$
65,482,964
$
—
Derivative
Financial
Instruments
(b)
Assets
Foreign
currency
exchange
contracts
............................
$
—
$
162,880
$
—
$
162,880
(a)
Certain
investments
of
the
Fund
were
fair
valued
using
NAV
per
share
as
no
quoted
market
value
is
available
and
therefore
have
been
excluded
from
the
fair
value
hierarchy.
(b)
Derivative
financial
instruments
are
forward
foreign
currency
exchange
contracts.
Forward
foreign
currency
exchange
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.