NPORT-P
    false
    
      
      
        
          0000355916
          XXXXXXXX
        
      
      
      
      
        S000002878
        C000007913
        C000007911
        C000007912
      
      
      
    
  
  
    
      BlackRock Variable Series Funds, Inc.
      811-03290
      0000355916
      5493007IJN5JRPJ1DF61
      100 Bellevue Parkway
      Wilmington
      
      19809
      800-441-7762
      BlackRock Advantage Large Cap Value V.I. Fund
      S000002878
      T5D8YQNN0LUF0THBUO53
      2022-12-31
      2022-03-31
      N
    
    
      110950773.57
      3282668.96
      107668104.61
      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
      1233040.31000000
      
        
        
        
        
        
        
      
      N
      
        
          
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        CBRE Group, Inc.
        52990016II9MJ2OSWA10
        CBRE Group, Inc., Class A
        12504L109
        
          
          
        
        4928.00000000
        NS
        USD
        451010.56000000
        0.418889662480
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Radian Group, Inc.
        54930005OUP720S5U385
        Radian Group, Inc.
        750236101
        
          
          
        
        7327.00000000
        NS
        USD
        162732.67000000
        0.151142876146
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intercontinental Exchange, Inc.
        5493000F4ZO33MV32P92
        Intercontinental Exchange, Inc.
        45866F104
        
          
          
        
        934.00000000
        NS
        USD
        123400.08000000
        0.114611546703
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Eaton Corp. plc
        549300VDIGTMXUNT7H71
        Eaton Corp. plc
        N/A
        
          
          
        
        6304.00000000
        NS
        USD
        956695.04000000
        0.888559377417
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Cadence Design Systems, Inc.
        GCT7RXJOGLXPV0NXZY22
        Cadence Design Systems, Inc.
        127387108
        
          
          
        
        355.00000000
        NS
        USD
        58383.30000000
        0.054225251026
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Archer-Daniels-Midland Co.
        549300LO13MQ9HYSTR83
        Archer-Daniels-Midland Co.
        039483102
        
          
          
        
        2214.00000000
        NS
        USD
        199835.64000000
        0.185603378757
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Exxon Mobil Corp.
        J3WHBG0MTS7O8ZVMDC91
        Exxon Mobil Corp.
        30231G102
        
          
          
        
        31921.00000000
        NS
        USD
        2636355.39000000
        2.448594594981
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Vulcan Materials Co.
        549300Q8LSNHAVWBNI21
        Vulcan Materials Co.
        929160109
        
          
          
        
        1212.00000000
        NS
        USD
        222644.40000000
        0.206787702640
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet, Inc.
        5493006MHB84DD0ZWV18
        Alphabet, Inc., Class A
        02079K305
        
          
          
        
        369.00000000
        NS
        USD
        1026318.15000000
        0.953223941033
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CubeSmart
        N/A
        CubeSmart
        229663109
        
          
          
        
        16494.00000000
        NS
        USD
        858182.82000000
        0.797063181439
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Expeditors International of Washington, Inc.
        984500B055A804AB6E40
        Expeditors International of Washington, Inc.
        302130109
        
          
          
        
        236.00000000
        NS
        USD
        24345.76000000
        0.022611858997
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Walmart, Inc.
        Y87794H0US1R65VBXU25
        Walmart, Inc.
        931142103
        
          
          
        
        7251.00000000
        NS
        USD
        1079818.92000000
        1.002914395039
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Valero Energy Corp.
        549300XTO5VR8SKV1V74
        Valero Energy Corp.
        91913Y100
        
          
          
        
        2023.00000000
        NS
        USD
        205415.42000000
        0.190785767748
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PayPal Holdings, Inc.
        5493005X2GO78EFZ3E94
        PayPal Holdings, Inc.
        70450Y103
        
          
          
        
        1216.00000000
        NS
        USD
        140630.40000000
        0.130614726161
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        OGE Energy Corp.
        CE5OG6JPOZMDSA0LAQ19
        OGE Energy Corp.
        670837103
        
          
          
        
        30896.00000000
        NS
        USD
        1259938.88000000
        1.170206241266
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Landstar System, Inc.
        254900CUQXQRL09MEI52
        Landstar System, Inc.
        515098101
        
          
          
        
        4048.00000000
        NS
        USD
        610559.84000000
        0.567075869136
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AMETEK, Inc.
        549300WZDEF9KKE40E98
        AMETEK, Inc.
        031100100
        
          
          
        
        2459.00000000
        NS
        USD
        327489.62000000
        0.304165863406
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Huntington Bancshares, Inc.
        549300XTVCVV9I7B5T19
        Huntington Bancshares, Inc.
        446150104
        
          
          
        
        14235.00000000
        NS
        USD
        208115.70000000
        0.193293734252
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Equifax, Inc.
        5493004MCF8JDC86VS77
        Equifax, Inc.
        294429105
        
          
          
        
        1170.00000000
        NS
        USD
        277407.00000000
        0.257650119322
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ovintiv, Inc.
        N/A
        Ovintiv, Inc.
        69047Q102
        
          
          
        
        3534.00000000
        NS
        USD
        191083.38000000
        0.177474453267
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Equity LifeStyle Properties, Inc.
        529900PEQG66LENB6798
        Equity LifeStyle Properties, Inc.
        29472R108
        
          
          
        
        6849.00000000
        NS
        USD
        523811.52000000
        0.486505750145
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Syneos Health, Inc.
        549300F1ZGKDS8P6GU13
        Syneos Health, Inc.
        87166B102
        
          
          
        
        6777.00000000
        NS
        USD
        548598.15000000
        0.509527080454
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Northrop Grumman Corp.
        RIMU48P07456QXSO0R61
        Northrop Grumman Corp.
        666807102
        
          
          
        
        509.00000000
        NS
        USD
        227634.98000000
        0.211422854358
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        KLA Corp.
        549300H0BF5JCG96TJ81
        KLA Corp.
        482480100
        
          
          
        
        188.00000000
        NS
        USD
        68819.28000000
        0.063917982256
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Curtiss-Wright Corp.
        TEL51ETZWP7D0ZM4X325
        Curtiss-Wright Corp.
        231561101
        
          
          
        
        4431.00000000
        NS
        USD
        665358.96000000
        0.617972204869
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Mid-America Apartment Communities, Inc.
        549300FQZKFR5YNSHZ21
        Mid-America Apartment Communities, Inc.
        59522J103
        
          
          
        
        1462.00000000
        NS
        USD
        306215.90000000
        0.284407254227
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bristol-Myers Squibb Co.
        HLYYNH7UQUORYSJQCN42
        Bristol-Myers Squibb Co.
        110122108
        
          
          
        
        9447.00000000
        NS
        USD
        689914.41000000
        0.640778819780
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Danaher Corp.
        S4BKK9OTCEWQ3YHPFM11
        Danaher Corp.
        235851102
        
          
          
        
        4617.00000000
        NS
        USD
        1354304.61000000
        1.257851259577
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Alphabet, Inc.
        5493006MHB84DD0ZWV18
        Alphabet, Inc., Class C
        02079K107
        
          
          
        
        199.00000000
        NS
        USD
        555805.01000000
        0.516220669076
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cummins, Inc.
        ZUNI8PYC725B6H8JU438
        Cummins, Inc.
        231021106
        
          
          
        
        910.00000000
        NS
        USD
        186650.10000000
        0.173356910736
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intel Corp.
        KNX4USFCNGPY45LOCE31
        Intel Corp.
        458140100
        
          
          
        
        33934.00000000
        NS
        USD
        1681769.04000000
        1.561993727011
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Boston Scientific Corp.
        Y6ZDD9FP4P8JSSJMW954
        Boston Scientific Corp.
        101137107
        
          
          
        
        13736.00000000
        NS
        USD
        608367.44000000
        0.565039611502
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intuit, Inc.
        VI90HBPH7XSFMB9E4M29
        Intuit, Inc.
        461202103
        
          
          
        
        357.00000000
        NS
        USD
        171659.88000000
        0.159434291726
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Owens Corning
        JO5M6676RDJIZ2U8X907
        Owens Corning
        690742101
        
          
          
        
        3559.00000000
        NS
        USD
        325648.50000000
        0.302455867668
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Biogen, Inc.
        W8J5WZB5IY3K0NDQT671
        Biogen, Inc.
        09062X103
        
          
          
        
        1262.00000000
        NS
        USD
        265777.20000000
        0.246848591755
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Phillips 66
        5493005JBO5YSIGK1814
        Phillips 66
        718546104
        
          
          
        
        4125.00000000
        NS
        USD
        356358.75000000
        0.330978938740
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bunge Ltd.
        5493007M0RIN8HY3MM77
        Bunge Ltd.
        N/A
        
          
          
        
        4555.00000000
        NS
        USD
        504739.55000000
        0.468792082695
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Mettler-Toledo International, Inc.
        5493000BD5GJNUDIUG10
        Mettler-Toledo International, Inc.
        592688105
        
          
          
        
        137.00000000
        NS
        USD
        188127.03000000
        0.174728654025
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Moody's Corp.
        549300GCEDD8YCF5WU84
        Moody's Corp.
        615369105
        
          
          
        
        772.00000000
        NS
        USD
        260480.52000000
        0.241929140429
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cerner Corp.
        549300L4UJ40IEVVI304
        Cerner Corp.
        156782104
        
          
          
        
        328.00000000
        NS
        USD
        30687.68000000
        0.028502108503
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Automatic Data Processing, Inc.
        HGBOLILQXWER4SAL2I23
        Automatic Data Processing, Inc.
        053015103
        
          
          
        
        1228.00000000
        NS
        USD
        279419.12000000
        0.259518936468
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Devon Energy Corp.
        54930042348RKR3ZPN35
        Devon Energy Corp.
        25179M103
        
          
          
        
        15466.00000000
        NS
        USD
        914504.58000000
        0.849373715003
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NextEra Energy, Inc.
        N/A
        NextEra Energy, Inc.
        65339F101
        
          
          
        
        8458.00000000
        NS
        USD
        716477.18000000
        0.665449793692
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Boeing Co. (The)
        RVHJWBXLJ1RFUBSY1F30
        Boeing Co. (The)
        097023105
        
          
          
        
        3816.00000000
        NS
        USD
        730764.00000000
        0.678719108734
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sun Communities, Inc.
        549300H5GEOJYN41ZG57
        Sun Communities, Inc.
        866674104
        
          
          
        
        341.00000000
        NS
        USD
        59773.89000000
        0.055516803436
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fox Corp.
        549300DDU6FDRBIELS05
        Fox Corp., Class A
        35137L105
        
          
          
        
        22067.00000000
        NS
        USD
        870543.15000000
        0.808543210780
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Stifel Financial Corp.
        549300E5F07FE5GHJX84
        Stifel Financial Corp.
        860630102
        
          
          
        
        2089.00000000
        NS
        USD
        141843.10000000
        0.131741057868
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Life Storage, Inc.
        W9EE01AFDDF9DQCQZC68
        Life Storage, Inc.
        53223X107
        
          
          
        
        4838.00000000
        NS
        USD
        679400.34000000
        0.631013560107
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Albertsons Cos., Inc.
        549300YKWOC0AOR16R51
        Albertsons Cos., Inc., Class A
        013091103
        
          
          
        
        484.00000000
        NS
        USD
        16093.00000000
        0.014946859200
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Snap-on, Inc.
        HHWAT5TDOYZMM26KKQ73
        Snap-on, Inc.
        833034101
        
          
          
        
        1132.00000000
        NS
        USD
        232603.36000000
        0.216037387156
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American Express Co.
        R4PP93JZOLY261QX3811
        American Express Co.
        025816109
        
          
          
        
        1945.00000000
        NS
        USD
        363715.00000000
        0.337811277831
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Spotify Technology SA
        549300B4X0JHWV0DTD60
        Spotify Technology SA
        N/A
        
          
          
        
        542.00000000
        NS
        USD
        81852.84000000
        0.076023294267
        Long
        EC
        CORP
        LU
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Kroger Co. (The)
        6CPEOKI6OYJ13Q6O7870
        Kroger Co. (The)
        501044101
        
          
          
        
        1698.00000000
        NS
        USD
        97414.26000000
        0.090476432507
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Allstate Corp. (The)
        OBT0W1ED8G0NWVOLOJ77
        Allstate Corp. (The)
        020002101
        
          
          
        
        1537.00000000
        NS
        USD
        212889.87000000
        0.197727888654
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Johnson & Johnson
        549300G0CFPGEF6X2043
        Johnson & Johnson
        478160104
        
          
          
        
        20259.00000000
        NS
        USD
        3590502.57000000
        3.334787570567
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Merck & Co., Inc.
        4YV9Y5M8S0BRK1RP0397
        Merck & Co., Inc.
        58933Y105
        
          
          
        
        17162.00000000
        NS
        USD
        1408142.10000000
        1.307854452440
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DTE Energy Co.
        549300IX8SD6XXD71I78
        DTE Energy Co.
        233331107
        
          
          
        
        8113.00000000
        NS
        USD
        1072619.73000000
        0.996227930161
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AT&T, Inc.
        549300Z40J86GGSTL398
        AT&T, Inc.
        00206R102
        
          
          
        
        40322.00000000
        NS
        USD
        952808.86000000
        0.884949970514
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American Homes 4 Rent
        549300ZJUO7A58PNUW40
        American Homes 4 Rent, Class A
        02665T306
        
          
          
        
        8804.00000000
        NS
        USD
        352424.12000000
        0.327324532438
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Pfizer, Inc.
        765LHXWGK1KXCLTFYQ30
        Pfizer, Inc.
        717081103
        
          
          
        
        24482.00000000
        NS
        USD
        1267433.14000000
        1.177166761308
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ally Financial, Inc.
        549300JBN1OSM8YNAI90
        Ally Financial, Inc.
        02005N100
        
          
          
        
        16792.00000000
        NS
        USD
        730116.16000000
        0.678117407791
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Teladoc Health, Inc.
        549300I2PVFBC9MFAC61
        Teladoc Health, Inc.
        87918A105
        
          
          
        
        4904.00000000
        NS
        USD
        353725.52000000
        0.328533246945
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Regions Financial Corp.
        CW05CS5KW59QTC0DG824
        Regions Financial Corp.
        7591EP100
        
          
          
        
        35345.00000000
        NS
        USD
        786779.70000000
        0.730745379841
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Under Armour, Inc.
        549300D4549QKWETZ406
        Under Armour, Inc., Class C
        904311206
        
          
          
        
        1049.00000000
        NS
        USD
        16322.44000000
        0.015159958521
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Juniper Networks, Inc.
        AUHIXNGG7U2U7JEHM527
        Juniper Networks, Inc.
        48203R104
        
          
          
        
        16292.00000000
        NS
        USD
        605410.72000000
        0.562293468611
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Prudential Financial, Inc.
        5PRBRS5FEH7NREC8OR45
        Prudential Financial, Inc.
        744320102
        
          
          
        
        3286.00000000
        NS
        USD
        388306.62000000
        0.360651486720
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        New York Community Bancorp, Inc.
        529900HVXOTLY61GL030
        New York Community Bancorp, Inc.
        649445103
        
          
          
        
        6109.00000000
        NS
        USD
        65488.48000000
        0.060824401281
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        United Parcel Service, Inc.
        D01LMJZU09ULLNCY6Z23
        United Parcel Service, Inc., Class B
        911312106
        
          
          
        
        1595.00000000
        NS
        USD
        342063.70000000
        0.317701979837
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hewlett Packard Enterprise Co.
        549300BX44RGX6ANDV88
        Hewlett Packard Enterprise Co.
        42824C109
        
          
          
        
        33589.00000000
        NS
        USD
        561272.19000000
        0.521298477421
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Molina Healthcare, Inc.
        549300NQQCEQ46YHZ591
        Molina Healthcare, Inc.
        60855R100
        
          
          
        
        342.00000000
        NS
        USD
        114087.78000000
        0.105962467170
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First Republic Bank
        YWC0TIKBQM2JV8L4IV08
        First Republic Bank
        33616C100
        
          
          
        
        2225.00000000
        NS
        USD
        360672.50000000
        0.334985464178
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        KKR & Co., Inc.
        549300JOHU21WRN2Z451
        KKR & Co., Inc.
        48251W104
        
          
          
        
        221.00000000
        NS
        USD
        12921.87000000
        0.012001576554
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hartford Financial Services Group, Inc. (The)
        IU7C3FTM7Y3BQM112U94
        Hartford Financial Services Group, Inc. (The)
        416515104
        
          
          
        
        149.00000000
        NS
        USD
        10699.69000000
        0.009937659847
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Nexstar Media Group, Inc.
        52990083ZRR5UT591988
        Nexstar Media Group, Inc., Class A
        65336K103
        
          
          
        
        213.00000000
        NS
        USD
        40146.24000000
        0.037287031424
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Home Depot, Inc. (The)
        QEKMOTMBBKA8I816DO57
        Home Depot, Inc. (The)
        437076102
        
          
          
        
        464.00000000
        NS
        USD
        138889.12000000
        0.128997459835
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        McCormick & Co., Inc.
        549300JQQA6MQ4OJP259
        McCormick & Co., Inc. (Non-Voting)
        579780206
        
          
          
        
        4559.00000000
        NS
        USD
        454988.20000000
        0.422584015617
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Pinnacle Financial Partners, Inc.
        54930098EZ8JMSAZGS24
        Pinnacle Financial Partners, Inc.
        72346Q104
        
          
          
        
        3026.00000000
        NS
        USD
        278634.08000000
        0.258789806887
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Williams Cos., Inc. (The)
        D71FAKCBLFS2O0RBPG08
        Williams Cos., Inc. (The)
        969457100
        
          
          
        
        10264.00000000
        NS
        USD
        342920.24000000
        0.318497517200
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hologic, Inc.
        549300DYP6F5ZJL0LB74
        Hologic, Inc.
        436440101
        
          
          
        
        946.00000000
        NS
        USD
        72671.72000000
        0.067496052116
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PNC Financial Services Group, Inc. (The)
        CFGNEKW0P8842LEUIA51
        PNC Financial Services Group, Inc. (The)
        693475105
        
          
          
        
        2788.00000000
        NS
        USD
        514246.60000000
        0.477622042166
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Travelers Cos., Inc. (The)
        549300Y650407RU8B149
        Travelers Cos., Inc. (The)
        89417E109
        
          
          
        
        7645.00000000
        NS
        USD
        1396970.85000000
        1.297478817018
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Church & Dwight Co., Inc.
        POOXSI30AWAQGYJZC921
        Church & Dwight Co., Inc.
        171340102
        
          
          
        
        1399.00000000
        NS
        USD
        139032.62000000
        0.129130739789
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Adobe, Inc.
        FU4LY2G4933NH2E1CP29
        Adobe, Inc.
        00724F101
        
          
          
        
        370.00000000
        NS
        USD
        168579.40000000
        0.156573203002
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Liberty Media Corp.-Liberty SiriusXM
        N/A
        Liberty Media Corp.-Liberty SiriusXM, Class A
        531229409
        
          
          
        
        429.00000000
        NS
        USD
        19609.59000000
        0.018212998242
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lennox International, Inc.
        S7DWAC87RDMPBF77GJ92
        Lennox International, Inc.
        526107107
        
          
          
        
        287.00000000
        NS
        USD
        74005.82000000
        0.068735137734
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        General Dynamics Corp.
        9C1X8XOOTYY2FNYTVH06
        General Dynamics Corp.
        369550108
        
          
          
        
        6184.00000000
        NS
        USD
        1491457.12000000
        1.385235790490
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Builders FirstSource, Inc.
        549300W0SKP6L3H7DP63
        Builders FirstSource, Inc.
        12008R107
        
          
          
        
        283.00000000
        NS
        USD
        18264.82000000
        0.016964002539
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Freeport-McMoRan, Inc.
        549300IRDTHJQ1PVET45
        Freeport-McMoRan, Inc.
        35671D857
        
          
          
        
        4591.00000000
        NS
        USD
        228356.34000000
        0.212092839218
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Coca-Cola Europacific Partners plc
        549300LTH67W4GWMRF57
        Coca-Cola Europacific Partners plc
        N/A
        
          
          
        
        2642.00000000
        NS
        USD
        128427.62000000
        0.119281026136
        Long
        EC
        CORP
        GB
        N
        
        1
        
          N
          N
          N
        
      
      
        Citigroup, Inc.
        6SHGI4ZSSLCXXQSBB395
        Citigroup, Inc.
        172967424
        
          
          
        
        22819.00000000
        NS
        USD
        1218534.60000000
        1.131750767243
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ryder System, Inc.
        ZXJ6Y2OSPZXIVGRILD15
        Ryder System, Inc.
        783549108
        
          
          
        
        2801.00000000
        NS
        USD
        222203.33000000
        0.206378045573
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Corteva, Inc.
        549300WZN9I2QKLS0O94
        Corteva, Inc.
        22052L104
        
          
          
        
        11938.00000000
        NS
        USD
        686196.24000000
        0.637325457233
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HEICO Corp.
        529900O1DTDLCJ7L0I14
        HEICO Corp.
        422806109
        
          
          
        
        1836.00000000
        NS
        USD
        281899.44000000
        0.261822608488
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        S&P Global, Inc.
        Y6X4K52KMJMZE7I7MY94
        S&P Global, Inc.
        78409V104
        
          
          
        
        2817.00000000
        NS
        USD
        1155477.06000000
        1.073184174817
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Linde plc
        8945002PAZHZLBGKGF02
        Linde plc
        N/A
        
          
          
        
        942.00000000
        NS
        USD
        300903.06000000
        0.279472793813
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Eversource Energy
        SJ7XXD41SQU3ZNWUJ746
        Eversource Energy
        30040W108
        
          
          
        
        3367.00000000
        NS
        USD
        296935.73000000
        0.275788016400
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Discover Financial Services
        Z1YLO2USPORE63VVUL20
        Discover Financial Services
        254709108
        
          
          
        
        98.00000000
        NS
        USD
        10798.62000000
        0.010029544068
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Otis Worldwide Corp.
        549300ZLBKR8VSU25153
        Otis Worldwide Corp.
        68902V107
        
          
          
        
        3461.00000000
        NS
        USD
        266323.95000000
        0.247356402311
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fox Corp.
        549300DDU6FDRBIELS05
        Fox Corp., Class B
        35137L204
        
          
          
        
        783.00000000
        NS
        USD
        28407.24000000
        0.026384081063
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Live Nation Entertainment, Inc.
        5493007B9BM9ZXJINO78
        Live Nation Entertainment, Inc.
        538034109
        
          
          
        
        785.00000000
        NS
        USD
        92347.40000000
        0.085770433439
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        McKesson Corp.
        549300WZWOM80UCFSF54
        McKesson Corp.
        58155Q103
        
          
          
        
        810.00000000
        NS
        USD
        247965.30000000
        0.230305252329
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Roper Technologies, Inc.
        54930003T4SXCIWVXY35
        Roper Technologies, Inc.
        776696106
        
          
          
        
        740.00000000
        NS
        USD
        349450.20000000
        0.324562414529
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Whirlpool Corp.
        WHENKOULSSK7WUM60H03
        Whirlpool Corp.
        963320106
        
          
          
        
        2776.00000000
        NS
        USD
        479637.28000000
        0.445477592214
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Abbott Laboratories
        HQD377W2YR662HK5JX27
        Abbott Laboratories
        002824100
        
          
          
        
        375.00000000
        NS
        USD
        44385.00000000
        0.041223907637
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        WestRock Co.
        5493004Z9TCQW68YVL89
        WestRock Co.
        96145D105
        
          
          
        
        3625.00000000
        NS
        USD
        170483.75000000
        0.158341925510
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Medtronic plc
        549300GX3ZBSQWUXY261
        Medtronic plc
        N/A
        
          
          
        
        6915.00000000
        NS
        USD
        767219.25000000
        0.712578021856
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Capital One Financial Corp.
        ZUE8T73ROZOF6FLBAR73
        Capital One Financial Corp.
        14040H105
        
          
          
        
        1624.00000000
        NS
        USD
        213214.96000000
        0.198029825798
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Costco Wholesale Corp.
        29DX7H14B9S6O3FD6V18
        Costco Wholesale Corp.
        22160K105
        
          
          
        
        224.00000000
        NS
        USD
        128990.40000000
        0.119803725037
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Keysight Technologies, Inc.
        549300GLKVIO8YRCYN02
        Keysight Technologies, Inc.
        49338L103
        
          
          
        
        2363.00000000
        NS
        USD
        373283.11000000
        0.346697948619
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Philip Morris International, Inc.
        HL3H1H2BGXWVG3BSWR90
        Philip Morris International, Inc.
        718172109
        
          
          
        
        2424.00000000
        NS
        USD
        227710.56000000
        0.211493051563
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Marathon Oil Corp.
        1FRVQX2CRLGC1XLP5727
        Marathon Oil Corp.
        565849106
        
          
          
        
        31857.00000000
        NS
        USD
        799929.27000000
        0.742958439639
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Keurig Dr Pepper, Inc.
        DYTQ8KRTKO7Y2BVU5K74
        Keurig Dr Pepper, Inc.
        49271V100
        
          
          
        
        22107.00000000
        NS
        USD
        837855.30000000
        0.778183384053
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Comcast Corp.
        51M0QTTNCGUN7KFCFZ59
        Comcast Corp., Class A
        20030N101
        
          
          
        
        38468.00000000
        NS
        USD
        1801071.76000000
        1.672799727016
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Conagra Brands, Inc.
        54930035UDEIH090K650
        Conagra Brands, Inc.
        205887102
        
          
          
        
        732.00000000
        NS
        USD
        24573.24000000
        0.022823137909
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SiteOne Landscape Supply, Inc.
        5299008LX7SBD4HIAU03
        SiteOne Landscape Supply, Inc.
        82982L103
        
          
          
        
        2990.00000000
        NS
        USD
        483453.10000000
        0.449021650145
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Wells Fargo & Co.
        PBLD0EJDB5FWOLXP3B76
        Wells Fargo & Co.
        949746101
        
          
          
        
        8122.00000000
        NS
        USD
        393592.12000000
        0.365560554284
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Perrigo Co. plc
        549300IFOQS6R1QLY196
        Perrigo Co. plc
        N/A
        
          
          
        
        1012.00000000
        NS
        USD
        38891.16000000
        0.036121338014
        Long
        EC
        CORP
        IE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Cisco Systems, Inc.
        549300LKFJ962MZ46593
        Cisco Systems, Inc.
        17275R102
        
          
          
        
        365.00000000
        NS
        USD
        20352.40000000
        0.018902905436
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Travel + Leisure Co.
        T4VNTWMFQ7JQB65L7T35
        Travel + Leisure Co.
        894164102
        
          
          
        
        8660.00000000
        NS
        USD
        501760.40000000
        0.466025107265
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Goodyear Tire & Rubber Co. (The)
        5493002BI0S2ZQUY3437
        Goodyear Tire & Rubber Co. (The)
        382550101
        
          
          
        
        1775.00000000
        NS
        USD
        25364.75000000
        0.023558276698
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        JPMorgan Chase & Co.
        8I5DZWZKVSZI1NUHU748
        JPMorgan Chase & Co.
        46625H100
        
          
          
        
        15782.00000000
        NS
        USD
        2151402.24000000
        1.998179728149
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Silicon Laboratories, Inc.
        4PRDF8Q9TDHRVZKZSZ47
        Silicon Laboratories, Inc.
        826919102
        
          
          
        
        2229.00000000
        NS
        USD
        334795.80000000
        0.310951698474
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Huntington Ingalls Industries, Inc.
        5TZLZ6WJTBVJ0QWBG121
        Huntington Ingalls Industries, Inc.
        446413106
        
          
          
        
        159.00000000
        NS
        USD
        31710.96000000
        0.029452510671
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Hanover Insurance Group, Inc. (The)
        JJYR6MFKFF6CF8DBZ078
        Hanover Insurance Group, Inc. (The)
        410867105
        
          
          
        
        546.00000000
        NS
        USD
        81637.92000000
        0.075823680834
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Berkshire Hathaway, Inc.
        5493000C01ZX7D35SD85
        Berkshire Hathaway, Inc., Class B
        084670702
        
          
          
        
        5984.00000000
        NS
        USD
        2111813.44000000
        1.961410435940
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Morgan Stanley
        IGJSJL3JD5P30I6NJZ34
        Morgan Stanley
        617446448
        
          
          
        
        1728.00000000
        NS
        USD
        151027.20000000
        0.140271067784
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PPG Industries, Inc.
        549300BKPEP01R3V6C59
        PPG Industries, Inc.
        693506107
        
          
          
        
        621.00000000
        NS
        USD
        81394.47000000
        0.075597569303
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Advanced Micro Devices, Inc.
        R2I72C950HOYXII45366
        Advanced Micro Devices, Inc.
        007903107
        
          
          
        
        1564.00000000
        NS
        USD
        171007.76000000
        0.158828615604
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ciena Corp.
        W0CZ7N0GH8UIGXDM1H41
        Ciena Corp.
        171779309
        
          
          
        
        529.00000000
        NS
        USD
        32073.27000000
        0.029789017013
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AGCO Corp.
        LYOM0B2GCF1JWXK5ZG04
        AGCO Corp.
        001084102
        
          
          
        
        174.00000000
        NS
        USD
        25409.22000000
        0.023599579552
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HP, Inc.
        WHKXQACZ14C5XRO8LW03
        HP, Inc.
        40434L105
        
          
          
        
        12842.00000000
        NS
        USD
        466164.60000000
        0.432964434257
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Analog Devices, Inc.
        GYVOE5EZ4GDAVTU4CQ61
        Analog Devices, Inc.
        032654105
        
          
          
        
        327.00000000
        NS
        USD
        54013.86000000
        0.050167001820
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Schneider National, Inc.
        529900V6GZ6G6E3BLV72
        Schneider National, Inc., Class B
        80689H102
        
          
          
        
        7090.00000000
        NS
        USD
        180795.00000000
        0.167918809990
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Schlumberger NV
        213800ZUA17OK3QLGM62
        Schlumberger NV
        806857108
        
          
          
        
        15151.00000000
        NS
        USD
        625887.81000000
        0.581312183647
        Long
        EC
        CORP
        CW
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Colgate-Palmolive Co.
        YMEGZFW4SBUSS5BQXF88
        Colgate-Palmolive Co.
        194162103
        
          
          
        
        17964.00000000
        NS
        USD
        1362210.12000000
        1.265193740462
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cboe Global Markets, Inc.
        529900RLNSGA90UPEH54
        Cboe Global Markets, Inc.
        12503M108
        
          
          
        
        111.00000000
        NS
        USD
        12700.62000000
        0.011796083943
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        United States Cellular Corp.
        549300B164AZXESI6E03
        United States Cellular Corp.
        911684108
        
          
          
        
        10720.00000000
        NS
        USD
        324065.60000000
        0.300985701544
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Brown-Forman Corp.
        549300873K3LXF7ARU34
        Brown-Forman Corp., Class B
        115637209
        
          
          
        
        8291.00000000
        NS
        USD
        555662.82000000
        0.516088605825
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Chevron Corp.
        N/A
        Chevron Corp.
        166764100
        
          
          
        
        5944.00000000
        NS
        USD
        967861.52000000
        0.898930582558
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cigna Corp.
        549300VIWYMSIGT1U456
        Cigna Corp.
        125523100
        
          
          
        
        3355.00000000
        NS
        USD
        803891.55000000
        0.746638526713
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Target Corp.
        8WDDFXB5T1Z6J0XC1L66
        Target Corp.
        87612E106
        
          
          
        
        5114.00000000
        NS
        USD
        1085293.08000000
        1.007998686269
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Halliburton Co.
        ENYF8GB5SMQZ25S06U51
        Halliburton Co.
        406216101
        
          
          
        
        9692.00000000
        NS
        USD
        367036.04000000
        0.340895793911
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Crown Castle International Corp.
        54930012H97VSM0I2R19
        Crown Castle International Corp.
        22822V101
        
          
          
        
        496.00000000
        NS
        USD
        91561.60000000
        0.085040597985
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Flex Ltd.
        549300EAQH74YHD07T53
        Flex Ltd.
        N/A
        
          
          
        
        4793.00000000
        NS
        USD
        88910.15000000
        0.082577983816
        Long
        EC
        CORP
        SG
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Charles Schwab Corp. (The)
        549300VSGCJ7E698NM85
        Charles Schwab Corp. (The)
        808513105
        
          
          
        
        3415.00000000
        NS
        USD
        287918.65000000
        0.267413131347
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lennar Corp.
        529900G61XVRLX5TJX09
        Lennar Corp., Class A
        526057104
        
          
          
        
        477.00000000
        NS
        USD
        38718.09000000
        0.035960594031
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Park Hotels & Resorts, Inc.
        5493005UZ5TQN0H6HS73
        Park Hotels & Resorts, Inc.
        700517105
        
          
          
        
        2540.00000000
        NS
        USD
        49606.20000000
        0.046073254637
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Reliance Steel & Aluminum Co.
        549300E287ZOFT3C5Z56
        Reliance Steel & Aluminum Co.
        759509102
        
          
          
        
        4184.00000000
        NS
        USD
        767136.40000000
        0.712501072419
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        IDEXX Laboratories, Inc.
        OGMTXK0LUU1HKV2P0J84
        IDEXX Laboratories, Inc.
        45168D104
        
          
          
        
        1021.00000000
        NS
        USD
        558548.26000000
        0.518768545265
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ameren Corp.
        XRZQ5S7HYJFPHJ78L959
        Ameren Corp.
        023608102
        
          
          
        
        251.00000000
        NS
        USD
        23533.76000000
        0.021857689503
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Caterpillar, Inc.
        WRJR7GS4GTRECRRTVX92
        Caterpillar, Inc.
        149123101
        
          
          
        
        1040.00000000
        NS
        USD
        231732.80000000
        0.215228828295
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CMS Energy Corp.
        549300IA9XFBAGNIBW29
        CMS Energy Corp.
        125896100
        
          
          
        
        5094.00000000
        NS
        USD
        356274.36000000
        0.330900558982
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        N/A
        N/A
        S&P 500 E-Mini Index
        N/A
        
          
          
        
        5.00000000
        NC
        USD
        48588.25000000
        0.045127802867
        N/A
        DE
        
        US
        N
        
        1
        
          
            
              CME Clearing House
              LCZ7XYGSLJUHFXXNXD88
            
            Long
            
              
                S&P 500 E-Mini Index
                US78378X1072
              
            
            2022-06-17
            1132687.50000000
            USD
            48588.25000000
          
        
        
          N
          N
          N
        
      
      
        Altice USA, Inc.
        54930064K3612MGCER95
        Altice USA, Inc., Class A
        02156K103
        
          
          
        
        8651.00000000
        NS
        USD
        107964.48000000
        0.100275267583
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Marsh & McLennan Cos., Inc.
        549300XMP3KDCKJXIU47
        Marsh & McLennan Cos., Inc.
        571748102
        
          
          
        
        7220.00000000
        NS
        USD
        1230432.40000000
        1.142801207894
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ServiceNow, Inc.
        549300HJTQM36M0E1G39
        ServiceNow, Inc.
        81762P102
        
          
          
        
        349.00000000
        NS
        USD
        194354.61000000
        0.180512706807
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Procter & Gamble Co. (The)
        2572IBTT8CCZW6AU4141
        Procter & Gamble Co. (The)
        742718109
        
          
          
        
        10063.00000000
        NS
        USD
        1537626.40000000
        1.428116902001
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BlackRock Liquidity Funds
        5493002L9DNZ83RX7V61
        T-Fund, Institutional Class
        09248U718
        
          
          
        
        43069.29000000
        NS
        USD
        43069.29000000
        0.040001902286
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Agilent Technologies, Inc.
        QUIX8Y7A2WP0XRMW7G29
        Agilent Technologies, Inc.
        00846U101
        
          
          
        
        7230.00000000
        NS
        USD
        956745.90000000
        0.888606615176
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Truist Financial Corp.
        549300DRQQI75D2JP341
        Truist Financial Corp.
        89832Q109
        
          
          
        
        8055.00000000
        NS
        USD
        456718.50000000
        0.424191083937
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Global Payments, Inc.
        549300NOMHGVQBX6S778
        Global Payments, Inc.
        37940X102
        
          
          
        
        403.00000000
        NS
        USD
        55146.52000000
        0.051218993962
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MetLife, Inc.
        C4BXATY60WC6XEOZDX54
        MetLife, Inc.
        59156R108
        
          
          
        
        21007.00000000
        NS
        USD
        1476371.96000000
        1.371224993091
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Western Union Co. (The)
        28ID94QU1140NC23S047
        Western Union Co. (The)
        959802109
        
          
          
        
        6373.00000000
        NS
        USD
        119430.02000000
        0.110924233720
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Verizon Communications, Inc.
        2S72QS2UO2OESLG6Y829
        Verizon Communications, Inc.
        92343V104
        
          
          
        
        6888.00000000
        NS
        USD
        350874.72000000
        0.325885480450
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Goldman Sachs Group, Inc. (The)
        784F5XWPLTWKTBV3E584
        Goldman Sachs Group, Inc. (The)
        38141G104
        
          
          
        
        1740.00000000
        NS
        USD
        574374.00000000
        0.533467178678
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Kellogg Co.
        LONOZNOJYIBXOHXWDB86
        Kellogg Co.
        487836108
        
          
          
        
        7619.00000000
        NS
        USD
        491349.31000000
        0.456355493374
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Walt Disney Co. (The)
        549300GZKULIZ0WOW665
        Walt Disney Co. (The)
        254687106
        
          
          
        
        406.00000000
        NS
        USD
        55686.96000000
        0.051720943915
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Amgen, Inc.
        62QBXGPJ34PQ72Z12S66
        Amgen, Inc.
        031162100
        
          
          
        
        3239.00000000
        NS
        USD
        783254.98000000
        0.727471689816
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Microsoft Corp.
        INR2EJN1ERAN0W5ZP974
        Microsoft Corp.
        594918104
        
          
          
        
        1404.00000000
        NS
        USD
        432867.24000000
        0.402038506731
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Molson Coors Beverage Co.
        54930073LBBH6ZCBE225
        Molson Coors Beverage Co., Class B
        60871R209
        
          
          
        
        984.00000000
        NS
        USD
        52525.92000000
        0.048785032661
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Bank of America Corp.
        9DJT3UXIJIZJI4WXO774
        Bank of America Corp.
        060505104
        
          
          
        
        54494.00000000
        NS
        USD
        2246242.68000000
        2.086265647692
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Liberty Global plc
        549300BSGXG3QLIQYT84
        Liberty Global plc, Class A
        N/A
        
          
          
        
        8110.00000000
        NS
        USD
        206886.10000000
        0.192151706161
        Long
        EC
        CORP
        GB
        N
        
        1
        
          N
          N
          N
        
      
      
        Avnet, Inc.
        XJI53DCPL7QABOWK4Z75
        Avnet, Inc.
        053807103
        
          
          
        
        2785.00000000
        NS
        USD
        113043.15000000
        0.104992235545
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Prologis, Inc.
        529900DFH19P073LZ636
        Prologis, Inc.
        74340W103
        
          
          
        
        10781.00000000
        NS
        USD
        1740915.88000000
        1.616928138844
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FactSet Research Systems, Inc.
        549300ZSJE7NBK6K9P30
        FactSet Research Systems, Inc.
        303075105
        
          
          
        
        707.00000000
        NS
        USD
        306944.05000000
        0.285083545504
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bank of New York Mellon Corp. (The)
        WFLLPEPC7FZXENRZV188
        Bank of New York Mellon Corp. (The)
        064058100
        
          
          
        
        1489.00000000
        NS
        USD
        73899.07000000
        0.068635990452
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Waste Connections, Inc.
        549300HDLRTPBQU69P29
        Waste Connections, Inc.
        94106B101
        
          
          
        
        1283.00000000
        NS
        USD
        179235.10000000
        0.166470005810
        Long
        EC
        CORP
        CA
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Honeywell International, Inc.
        ISRPG12PN4EIEOEMW547
        Honeywell International, Inc.
        438516106
        
          
          
        
        4108.00000000
        NS
        USD
        799334.64000000
        0.742406159089
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ecolab, Inc.
        82DYEISM090VG8LTLS26
        Ecolab, Inc.
        278865100
        
          
          
        
        6554.00000000
        NS
        USD
        1157174.24000000
        1.074760481938
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Anthem, Inc.
        8MYN82XMYQH89CTMTH67
        Anthem, Inc.
        036752103
        
          
          
        
        3431.00000000
        NS
        USD
        1685375.82000000
        1.565343632735
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Reinsurance Group of America, Inc.
        LORM1GNEU1DKEW527V90
        Reinsurance Group of America, Inc.
        759351604
        
          
          
        
        3150.00000000
        NS
        USD
        344799.00000000
        0.320242472224
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NXP Semiconductors NV
        724500M9BY5293JDF951
        NXP Semiconductors NV
        N/A
        
          
          
        
        272.00000000
        NS
        USD
        50341.76000000
        0.046756428175
        Long
        EC
        CORP
        NL
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Donaldson Co., Inc.
        OZE6KXY9QQPR8EJ8WL20
        Donaldson Co., Inc.
        257651109
        
          
          
        
        1344.00000000
        NS
        USD
        69793.92000000
        0.064823208556
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Western Digital Corp.
        549300QQXOOYEF89IC56
        Western Digital Corp.
        958102105
        
          
          
        
        3941.00000000
        NS
        USD
        195670.65000000
        0.181735018656
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Regeneron Pharmaceuticals, Inc.
        549300RCBFWIRX3HYQ56
        Regeneron Pharmaceuticals, Inc.
        75886F107
        
          
          
        
        9.00000000
        NS
        USD
        6285.78000000
        0.005838107787
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Discovery, Inc.
        5493006ZCRFWKF6B1K26
        Discovery, Inc., Class C
        25470F302
        
          
          
        
        1642.00000000
        NS
        USD
        41000.74000000
        0.038080674075
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EOG Resources, Inc.
        XWTZDRYZPBUHIQBKDB46
        EOG Resources, Inc.
        26875P101
        
          
          
        
        5372.00000000
        NS
        USD
        640503.56000000
        0.594887002348
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        UnitedHealth Group, Inc.
        549300GHBMY8T5GXDE41
        UnitedHealth Group, Inc.
        91324P102
        
          
          
        
        2043.00000000
        NS
        USD
        1041868.71000000
        0.967666992721
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        General Motors Co.
        54930070NSV60J38I987
        General Motors Co.
        37045V100
        
          
          
        
        11346.00000000
        NS
        USD
        496274.04000000
        0.460929484918
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Thermo Fisher Scientific, Inc.
        HCHV7422L5HDJZCRFL38
        Thermo Fisher Scientific, Inc.
        883556102
        
          
          
        
        1581.00000000
        NS
        USD
        933817.65000000
        0.867311311351
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HEICO Corp.
        529900O1DTDLCJ7L0I14
        HEICO Corp., Class A
        422806208
        
          
          
        
        6091.00000000
        NS
        USD
        772521.53000000
        0.717502674351
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Voya Financial, Inc.
        549300T065Z4KJ686G75
        Voya Financial, Inc.
        929089100
        
          
          
        
        17434.00000000
        NS
        USD
        1156745.90000000
        1.074362648242
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Visa, Inc.
        549300JZ4OKEHW3DPJ59
        Visa, Inc., Class A
        92826C839
        
          
          
        
        3951.00000000
        NS
        USD
        876213.27000000
        0.813809505771
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Illinois Tool Works, Inc.
        76NA4I14SZCFAYMNSV04
        Illinois Tool Works, Inc.
        452308109
        
          
          
        
        5099.00000000
        NS
        USD
        1067730.60000000
        0.991687003191
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        McDonald's Corp.
        UE2136O97NLB5BYP9H04
        McDonald's Corp.
        580135101
        
          
          
        
        826.00000000
        NS
        USD
        204253.28000000
        0.189706395166
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Cirrus Logic, Inc.
        549300NKSJEM5ZZSSV18
        Cirrus Logic, Inc.
        172755100
        
          
          
        
        2181.00000000
        NS
        USD
        184926.99000000
        0.171756520345
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Yum! Brands, Inc.
        549300JE8XHZZ7OHN517
        Yum! Brands, Inc.
        988498101
        
          
          
        
        1574.00000000
        NS
        USD
        186566.22000000
        0.173279004655
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Charter Communications, Inc.
        0J0XRGZE3PBRFEZ7MV65
        Charter Communications, Inc., Class A
        16119P108
        
          
          
        
        25.00000000
        NS
        USD
        13638.00000000
        0.012666703894
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Targa Resources Corp.
        5493003QENHHS261UR94
        Targa Resources Corp.
        87612G101
        
          
          
        
        3103.00000000
        NS
        USD
        234183.41000000
        0.217504906256
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CVS Health Corp.
        549300EJG376EN5NQE29
        CVS Health Corp.
        126650100
        
          
          
        
        7709.00000000
        NS
        USD
        780227.89000000
        0.724660188666
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BorgWarner, Inc.
        549300DSFX2IE88NSX47
        BorgWarner, Inc.
        099724106
        
          
          
        
        8369.00000000
        NS
        USD
        325554.10000000
        0.302368190820
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Dell Technologies, Inc.
        549300TJB5YBRUPOG437
        Dell Technologies, Inc., Class C
        24703L202
        
          
          
        
        19652.00000000
        NS
        USD
        986333.88000000
        0.916087344132
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Entergy Corp.
        4XM3TW50JULSLG8BNC79
        Entergy Corp.
        29364G103
        
          
          
        
        11975.00000000
        NS
        USD
        1398081.25000000
        1.298510134514
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MasTec, Inc.
        549300TMDIT8WREDOF45
        MasTec, Inc.
        576323109
        
          
          
        
        185.00000000
        NS
        USD
        16113.50000000
        0.014965899193
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lam Research Corp.
        549300I4GMO6D34U1T02
        Lam Research Corp.
        512807108
        
          
          
        
        25.00000000
        NS
        USD
        13440.25000000
        0.012483037617
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mosaic Co. (The)
        2YD5STGSJNMUB7H76907
        Mosaic Co. (The)
        61945C103
        
          
          
        
        2743.00000000
        NS
        USD
        182409.50000000
        0.169418325567
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        American Tower Corp.
        5493006ORUSIL88JOE18
        American Tower Corp.
        03027X100
        
          
          
        
        320.00000000
        NS
        USD
        80390.40000000
        0.074665009002
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AmerisourceBergen Corp.
        AI8GXW8LG5WK7E9UD086
        AmerisourceBergen Corp.
        03073E105
        
          
          
        
        409.00000000
        NS
        USD
        63276.39000000
        0.058769855965
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ford Motor Co.
        20S05OYHG0MQM4VUIC57
        Ford Motor Co.
        345370860
        
          
          
        
        1957.00000000
        NS
        USD
        33092.87000000
        0.030736001269
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zynga, Inc.
        549300XNQ0U2EL088Z74
        Zynga, Inc., Class A
        98986T108
        
          
          
        
        2754.00000000
        NS
        USD
        25446.96000000
        0.023634631715
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lockheed Martin Corp.
        DPRBOZP0K5RM2YE8UU08
        Lockheed Martin Corp.
        539830109
        
          
          
        
        1011.00000000
        NS
        USD
        446255.40000000
        0.414473164189
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SL Liquidity Series, LLC
        549300I0RQO84VDWQP47
        Money Market Series
        N/A
        
          
        
        2879882.26890000
        NS
        USD
        2879018.30000000
        2.673975092650
        Long
        STIV
        RF
        US
        N
        
        N/A
        
          
          N
          N
        
      
      
        Brixmor Property Group, Inc.
        5299007UXW6Y0W2EGZ95
        Brixmor Property Group, Inc.
        11120U105
        
          
          
        
        4051.00000000
        NS
        USD
        104556.31000000
        0.097109826887
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Texas Instruments, Inc.
        WDJNR2L6D8RWOEB8T652
        Texas Instruments, Inc.
        882508104
        
          
          
        
        93.00000000
        NS
        USD
        17063.64000000
        0.015848370380
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        salesforce.com, Inc.
        RCGZFPDMRW58VJ54VR07
        salesforce.com, Inc.
        79466L302
        
          
          
        
        3967.00000000
        NS
        USD
        842273.44000000
        0.782286864852
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fidelity National Information Services, Inc.
        6WQI0GK1PRFVBA061U48
        Fidelity National Information Services, Inc.
        31620M106
        
          
          
        
        8747.00000000
        NS
        USD
        878373.74000000
        0.815816107455
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Extra Space Storage, Inc.
        N/A
        Extra Space Storage, Inc.
        30225T102
        
          
          
        
        2722.00000000
        NS
        USD
        559643.20000000
        0.519785503819
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Workday, Inc.
        549300J0DYC0N31V7G13
        Workday, Inc., Class A
        98138H101
        
          
          
        
        2322.00000000
        NS
        USD
        556026.12000000
        0.516426031659
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        H&R Block, Inc.
        549300CE3KUCWLZBG404
        H&R Block, Inc.
        093671105
        
          
          
        
        13203.00000000
        NS
        USD
        343806.12000000
        0.319320304973
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        CSX Corp.
        549300JVQR4N1MMP3Q88
        CSX Corp.
        126408103
        
          
          
        
        2954.00000000
        NS
        USD
        110627.30000000
        0.102748441983
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Service Corp. International
        549300RKVM2ME20JHZ15
        Service Corp. International
        817565104
        
          
          
        
        4606.00000000
        NS
        USD
        303166.92000000
        0.281575422078
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Jefferies Financial Group, Inc.
        549300HOF34RGOJ5YL07
        Jefferies Financial Group, Inc.
        47233W109
        
          
          
        
        3296.00000000
        NS
        USD
        108273.60000000
        0.100562372108
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Monolithic Power Systems, Inc.
        529900TB7O85LSZ1XU31
        Monolithic Power Systems, Inc.
        609839105
        
          
          
        
        83.00000000
        NS
        USD
        40311.44000000
        0.037440465907
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zoetis, Inc.
        549300HD9Q1LOC9KLJ48
        Zoetis, Inc.
        98978V103
        
          
          
        
        5304.00000000
        NS
        USD
        1000281.36000000
        0.929041486913
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Best Buy Co., Inc.
        HL5XPTVRV0O8TUN5LL90
        Best Buy Co., Inc.
        086516101
        
          
          
        
        1308.00000000
        NS
        USD
        118897.20000000
        0.110429361072
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      
      
      
    
    
      2022-03-31
      BlackRock Variable Series Funds, Inc.
      Ann Frechette
      Ann Frechette
      Assistant Treasurer
    
  
  XXXX




BlackRock
Advantage
Large
Cap
Value
V.I.
Fund
2
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
March
31,
2022
Security
Shares
Shares
Value
Common
Stocks
Aerospace
&
Defense
4.3%
Boeing
Co.
(The)
(a)
..................
3,816
$
730,764
Curtiss-Wright
Corp.
(b)
................
4,431
665,359
General
Dynamics
Corp.
..............
6,184
1,491,457
HEICO
Corp.
.....................
1,836
281,899
HEICO
Corp.,
Class
A
................
6,091
772,522
Huntington
Ingalls
Industries,
Inc.
........
159
31,711
Lockheed
Martin
Corp.
...............
1,011
446,255
Northrop
Grumman
Corp.
.............
509
227,635
4,647,602
Air
Freight
&
Logistics
0.3%
Expeditors
International
of
Washington,
Inc.
.
331
34,146
United
Parcel
Service,
Inc.,
Class
B
......
1,595
342,064
376,210
Auto
Components
0.3%
BorgWarner,
Inc.
...................
8,369
325,554
Goodyear
Tire
&
Rubber
Co.
(The)
(a)
......
1,775
25,365
350,919
Automobiles
0.5%
Ford
Motor
Co.
....................
1,957
33,093
General
Motors
Co.
(a)
................
11,346
496,274
529,367
Banks
8.1%
Bank
of
America
Corp.
...............
54,494
2,246,243
Citigroup,
Inc.
.....................
23,354
1,247,103
First
Republic
Bank
.................
1,965
318,526
Huntington
Bancshares,
Inc.
...........
14,235
208,116
JPMorgan
Chase
&
Co.
..............
16,428
2,239,465
Pinnacle
Financial
Partners,
Inc.
(b)
.......
3,026
278,634
PNC
Financial
Services
Group,
Inc.
(The)
..
2,788
514,247
Regions
Financial
Corp.
..............
35,345
786,780
Truist
Financial
Corp.
................
8,055
456,718
Wells
Fargo
&
Co.
..................
8,122
393,592
8,689,424
Beverages
1.5%
Brown-Forman
Corp.,
Class
B
(b)
.........
8,529
571,613
Coca-Cola
Europacific
Partners
plc
.......
2,642
128,428
Keurig
Dr
Pepper,
Inc.
...............
22,107
837,855
Molson
Coors
Beverage
Co.,
Class
B
(b)
....
984
52,526
1,590,422
Biotechnology
1.0%
Amgen,
Inc.
......................
3,239
783,255
Biogen,
Inc.
(a)
.....................
1,262
265,777
1,049,032
Building
Products
0.4%
Builders
FirstSource
,
Inc.
(a)
............
283
18,265
Lennox
International,
Inc.
.............
287
74,006
Owens
Corning
....................
3,559
325,648
417,919
Capital
Markets
2.9%
Bank
of
New
York
Mellon
Corp.
(The)
.....
1,489
73,899
Cboe
Global
Markets,
Inc.
.............
111
12,701
Charles
Schwab
Corp.
(The)
...........
3,415
287,919
FactSet
Research
Systems,
Inc.
.........
707
306,944
Goldman
Sachs
Group,
Inc.
(The)
.......
1,740
574,374
Intercontinental
Exchange,
Inc.
.........
934
123,400
Jefferies
Financial
Group,
Inc.
..........
3,296
108,274
KKR
&
Co.,
Inc.
....................
221
12,922
Moody's
Corp.
.....................
772
260,480
Morgan
Stanley
....................
1,728
151,027
Security
Shares
Shares
Value
Capital
Markets
(continued)
S&P
Global,
Inc.
...................
2,682
$
1,100,103
Stifel
Financial
Corp.
................
2,236
151,824
3,163,867
Chemicals
2.2%
Corteva
,
Inc.
......................
11,938
686,196
Ecolab,
Inc.
......................
6,554
1,157,174
Linde
plc
........................
942
300,903
Mosaic
Co.
(The)
...................
2,160
143,640
PPG
Industries,
Inc.
.................
621
81,395
2,369,308
Commercial
Services
&
Supplies
0.2%
Waste
Connections,
Inc.
..............
1,283
179,235
Communications
Equipment
0.6%
Ciena
Corp.
(a)
.....................
529
32,073
Cisco
Systems,
Inc.
.................
365
20,352
Juniper
Networks,
Inc.
...............
16,292
605,411
657,836
Construction
&
Engineering
0.0%
MasTec
,
Inc.
(a)
.....................
185
16,114
Construction
Materials
0.2%
Vulcan
Materials
Co.
................
892
163,860
Consumer
Finance
1.2%
Ally
Financial,
Inc.
..................
16,792
730,116
American
Express
Co.
...............
1,945
363,715
Capital
One
Financial
Corp.
............
1,624
213,215
Discover
Financial
Services
............
98
10,799
1,317,845
Containers
&
Packaging
0.2%
WestRock
Co.
.....................
3,625
170,484
Diversified
Consumer
Services
0.6%
H&R
Block,
Inc.
(b)
...................
12,227
318,391
Service
Corp.
International
............
4,606
303,167
621,558
Diversified
Financial
Services
3.0%
Berkshire
Hathaway,
Inc.,
Class
B
(a)
......
5,984
2,111,813
Voya
Financial,
Inc.
.................
17,434
1,156,746
3,268,559
Diversified
Telecommunication
Services
1.4%
AT&T,
Inc.
........................
40,322
952,809
Liberty
Global
plc,
Class
A
(a)
............
8,110
206,886
Verizon
Communications,
Inc.
..........
6,888
350,875
1,510,570
Electric
Utilities
3.4%
Entergy
Corp.
.....................
11,975
1,398,081
Eversource
Energy
.................
3,367
296,936
NextEra
Energy,
Inc.
................
8,458
716,477
OGE
Energy
Corp.
..................
30,896
1,259,939
3,671,433
Electrical
Equipment
1.2%
AMETEK,
Inc.
.....................
2,459
327,490
Eaton
Corp.
plc
....................
6,304
956,695
1,284,185
Electronic
Equipment,
Instruments
&
Components
0.5%
Avnet,
Inc.
.......................
2,785
113,043
Flex
Ltd.
(a)
........................
4,793
88,910
BlackRock
Advantage
Large
Cap
Value
V.I.
Fund
3
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
March
31,
2022
Security
Shares
Shares
Value
Electronic
Equipment,
Instruments
&
Components
(continued)
Keysight
Technologies,
Inc.
(a)
...........
2,286
$
361,120
563,073
Energy
Equipment
&
Services
0.9%
Halliburton
Co.
....................
9,692
367,036
Schlumberger
NV
..................
14,155
584,743
951,779
Entertainment
0.2%
(a)
Live
Nation
Entertainment,
Inc.
..........
785
92,347
Spotify
Technology
SA
...............
542
81,853
Walt
Disney
Co.
(The)
...............
406
55,687
Zynga,
Inc.,
Class
A
.................
2,754
25,447
255,334
Equity
Real
Estate
Investment
Trusts
(REITs)
5.0%
American
Homes
4
Rent,
Class
A
........
8,804
352,424
American
Tower
Corp.
...............
320
80,390
Brixmor
Property
Group,
Inc.
...........
4,051
104,556
Crown
Castle
International
Corp.
........
496
91,562
CubeSmart
.......................
16,494
858,183
Equity
LifeStyle
Properties,
Inc.
.........
6,849
523,812
Extra
Space
Storage,
Inc.
.............
2,722
559,643
Life
Storage,
Inc.
...................
4,838
679,400
Mid-America
Apartment
Communities,
Inc.
..
1,688
353,552
Prologis,
Inc.
(b)
.....................
10,781
1,740,916
Sun
Communities,
Inc.
...............
341
59,774
5,404,212
Food
&
Staples
Retailing
1.2%
Albertsons
Cos.,
Inc.,
Class
A
..........
484
16,093
Costco
Wholesale
Corp.
..............
224
128,991
Kroger
Co.
(The)
...................
1,698
97,414
Walmart,
Inc.
......................
7,251
1,079,819
1,322,317
Food
Products
1.6%
Archer-Daniels-Midland
Co.
............
2,214
199,836
Bunge
Ltd.
.......................
4,555
504,740
Conagra
Brands,
Inc.
................
732
24,573
Kellogg
Co.
.......................
7,619
491,349
McCormick
&
Co.,
Inc.
(Non-Voting)
......
4,559
454,988
1,675,486
Health
Care
Equipment
&
Supplies
1.9%
Abbott
Laboratories
.................
375
44,385
Boston
Scientific
Corp.
(a)
..............
13,736
608,368
Hologic
,
Inc.
(a)
.....................
812
62,378
IDEXX
Laboratories,
Inc.
(a)
.............
1,021
558,548
Medtronic
plc
.....................
6,915
767,219
2,040,898
Health
Care
Providers
&
Services
4.4%
AmerisourceBergen
Corp.
.............
409
63,276
Anthem,
Inc.
......................
3,431
1,685,376
Cigna
Corp.
......................
3,355
803,891
CVS
Health
Corp.
..................
7,709
780,228
McKesson
Corp.
...................
810
247,965
Molina
Healthcare,
Inc.
(a)
..............
342
114,088
UnitedHealth
Group,
Inc.
..............
2,043
1,041,869
4,736,693
Health
Care
Technology
0.4%
Cerner
Corp.
......................
328
30,687
Teladoc
Health,
Inc.
(a)(b)
...............
5,313
383,227
413,914
Security
Shares
Shares
Value
Hotels,
Restaurants
&
Leisure
0.8%
McDonald's
Corp.
..................
826
$
204,253
Travel
+
Leisure
Co.
.................
8,660
501,761
Yum!
Brands,
Inc.
..................
1,574
186,566
892,580
Household
Durables
0.5%
Lennar
Corp.,
Class
A
................
477
38,718
Whirlpool
Corp.
(b)
...................
2,776
479,637
518,355
Household
Products
2.8%
Church
&
Dwight
Co.,
Inc.
.............
1,399
139,033
Colgate-Palmolive
Co.
...............
17,964
1,362,210
Procter
&
Gamble
Co.
(The)
...........
10,063
1,537,626
3,038,869
Industrial
Conglomerates
1.1%
Honeywell
International,
Inc.
...........
4,108
799,335
Roper
Technologies,
Inc.
..............
740
349,450
1,148,785
Insurance
4.7%
Allstate
Corp.
(The)
.................
1,537
212,890
Hanover
Insurance
Group,
Inc.
(The)
.....
546
81,638
Hartford
Financial
Services
Group,
Inc.
(The)
149
10,700
Marsh
&
McLennan
Cos.,
Inc.
..........
7,220
1,230,432
MetLife,
Inc.
......................
21,007
1,476,372
Prudential
Financial,
Inc.
(b)
.............
2,687
317,523
Reinsurance
Group
of
America,
Inc.
......
3,150
344,799
Travelers
Cos.,
Inc.
(The)
.............
7,645
1,396,971
5,071,325
Interactive
Media
&
Services
1.5%
(a)
Alphabet,
Inc.,
Class
A
...............
369
1,026,318
Alphabet,
Inc.,
Class
C
...............
199
555,805
1,582,123
IT
Services
2.2%
Automatic
Data
Processing,
Inc.
.........
1,228
279,419
Fidelity
National
Information
Services,
Inc.
..
8,747
878,374
Global
Payments,
Inc.
...............
403
55,147
PayPal
Holdings,
Inc.
(a)
...............
1,216
140,630
Visa,
Inc.,
Class
A
..................
3,951
876,213
Western
Union
Co.
(The)
(b)
............
5,021
94,094
2,323,877
Life
Sciences
Tools
&
Services
3.7%
Agilent
Technologies,
Inc.
.............
7,454
986,388
Danaher
Corp.
....................
4,194
1,230,226
Mettler
-Toledo
International,
Inc.
(a)
.......
137
188,127
Syneos
Health,
Inc.
(a)
................
7,705
623,720
Thermo
Fisher
Scientific,
Inc.
...........
1,581
933,817
3,962,278
Machinery
1.9%
Caterpillar,
Inc.
....................
1,040
231,733
Cummins,
Inc.
.....................
910
186,650
Donaldson
Co.,
Inc.
.................
1,344
69,794
Illinois
Tool
Works,
Inc.
...............
5,099
1,067,731
Otis
Worldwide
Corp.
................
3,461
266,324
Snap-on,
Inc.
.....................
1,132
232,603
2,054,835
Media
2.7%
Altice
USA,
Inc.,
Class
A
(a)
.............
8,651
107,964
Charter
Communications,
Inc.,
Class
A
(a)
...
25
13,638
Comcast
Corp.,
Class
A
..............
38,468
1,801,072
Fox
Corp.,
Class
A
..................
22,067
870,543
Fox
Corp.,
Class
B
..................
783
28,407
BlackRock
Advantage
Large
Cap
Value
V.I.
Fund
4
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
March
31,
2022
Security
Shares
Shares
Value
Media
(continued)
Liberty
Media
Corp.-Liberty
SiriusXM
,
Class
A
(a)
429
$
19,610
Nexstar
Media
Group,
Inc.,
Class
A
.......
213
40,146
Warner
Bros
Discovery,
Inc.,
Class
C
(a)
....
1,642
41,001
2,922,381
Metals
&
Mining
1.0%
Freeport-McMoRan,
Inc.
..............
5,610
279,041
Reliance
Steel
&
Aluminum
Co.
.........
4,467
819,025
1,098,066
Multiline
Retail
1.0%
Target
Corp.
......................
5,114
1,085,293
Multi-Utilities
1.3%
Ameren
Corp.
.....................
251
23,534
CMS
Energy
Corp.
..................
5,094
356,274
DTE
Energy
Co.
...................
8,113
1,072,620
1,452,428
Oil,
Gas
&
Consumable
Fuels
6.8%
Chevron
Corp.
.....................
5,944
967,862
Devon
Energy
Corp.
.................
15,466
914,505
EOG
Resources,
Inc.
................
5,372
640,504
Exxon
Mobil
Corp.
..................
31,921
2,636,355
Marathon
Oil
Corp.
..................
31,857
799,929
Ovintiv
,
Inc.
.......................
3,534
191,083
Phillips
66
........................
4,603
397,653
Targa
Resources
Corp.
...............
3,103
234,183
Valero
Energy
Corp.
.................
2,023
205,416
Williams
Cos.,
Inc.
(The)
..............
10,264
342,920
7,330,410
Pharmaceuticals
7.4%
Bristol-Myers
Squibb
Co.
..............
9,447
689,915
Johnson
&
Johnson
.................
20,259
3,590,503
Merck
&
Co.,
Inc.
...................
17,162
1,408,142
Perrigo
Co.
plc
....................
1,012
38,891
Pfizer,
Inc.
.......................
24,482
1,267,433
Zoetis,
Inc.
.......................
5,304
1,000,281
7,995,165
Professional
Services
0.3%
Equifax,
Inc.
......................
1,170
277,407
Real
Estate
Management
&
Development
0.4%
CBRE
Group,
Inc.,
Class
A
(a)
...........
4,928
451,011
Road
&
Rail
1.0%
CSX
Corp.
.......................
2,954
110,627
Landstar
System,
Inc.
................
4,048
610,560
Ryder
System,
Inc.
..................
2,801
222,203
Schneider
National,
Inc.,
Class
B
(b)
.......
7,090
180,795
1,124,185
Semiconductors
&
Semiconductor
Equipment
2.5%
Advanced
Micro
Devices,
Inc.
(a)
.........
1,564
171,008
Analog
Devices,
Inc.
.................
327
54,014
Cirrus
Logic,
Inc.
(a)
..................
1,846
156,522
Intel
Corp.
.......................
33,934
1,681,769
KLA
Corp.
........................
188
68,819
Monolithic
Power
Systems,
Inc.
.........
83
40,311
NXP
Semiconductors
NV
.............
272
50,342
Security
Shares
Shares
Value
Semiconductors
&
Semiconductor
Equipment
(continued)
Silicon
Laboratories,
Inc.
(a)
.............
2,879
$
432,426
Texas
Instruments,
Inc.
...............
93
17,064
2,672,275
Software
2.3%
Adobe,
Inc.
(a)
......................
370
168,579
Cadence
Design
Systems,
Inc.
(a)
........
355
58,383
Intuit,
Inc.
........................
137
65,875
Microsoft
Corp.
....................
1,404
432,867
salesforce.com,
Inc.
(a)
................
3,967
842,274
ServiceNow
,
Inc.
(a)
..................
565
314,643
Workday,
Inc.,
Class
A
(a)
..............
2,322
556,026
2,438,647
Specialty
Retail
0.2%
Best
Buy
Co.,
Inc.
..................
1,308
118,897
Home
Depot,
Inc.
(The)
..............
464
138,889
257,786
Technology
Hardware,
Storage
&
Peripherals
2.1%
Dell
Technologies,
Inc.,
Class
C
(a)
........
19,652
986,334
Hewlett
Packard
Enterprise
Co.
.........
33,589
561,272
HP,
Inc.
(b)
........................
12,842
466,164
Western
Digital
Corp.
(a)
...............
3,941
195,671
2,209,441
Textiles,
Apparel
&
Luxury
Goods
0.0%
Under
Armour
,
Inc.,
Class
C
(a)
..........
1,049
16,322
Thrifts
&
Mortgage
Finance
0.2%
New
York
Community
Bancorp,
Inc.
(b)
.....
4,068
43,609
Radian
Group,
Inc.
..................
7,327
162,733
206,342
Tobacco
0.2%
Philip
Morris
International,
Inc.
..........
2,424
227,711
Trading
Companies
&
Distributors
0.5%
SiteOne
Landscape
Supply,
Inc.
(a)
........
3,193
516,276
Wireless
Telecommunication
Services
0.3%
United
States
Cellular
Corp.
(a)
..........
10,720
324,066
Total
Common
Stocks
99.0%
(Cost:
$101,356,270)
.............................
106,607,694
Total
Long-Term
Investments
99.0%
(Cost:
$101,356,270)
.............................
106,607,694
Short-Term
Securities
(c)(d)
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class,
0.21%
...................
1,275,924
1,275,924
SL
Liquidity
Series,
LLC,
Money
Market
Series,
0.42%
(e)
.......................
3,150,767
3,149,822
Total
Short-Term
Securities
4.1%
(Cost:
$4,425,254)
..............................
4,425,746
Total
Investments
103.1%
(Cost:
$105,781,524
)
.............................
111,033,440
Liabilities
in
Excess
of
Other
Assets
(3.1)%
............
(3,387,186)
Net
Assets
100.0%
..............................
$
107,646,254
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
this
security
is
on
loan.
(c)
Affiliate
of
the
Fund.
(d)
Annualized
7-day
yield
as
of
period
end.
(e)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
BlackRock
Advantage
Large
Cap
Value
V.I.
Fund
5
Schedule
of
Investments
(unaudited)
(continued)
March
31,
2022
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the
period
ended
March
31,
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
03/31/22
Shares
Held
at
03/31/22
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class
(a)
..
$
1,180,573
$
95,351
$
$
$
$
1,275,924
1,275,924
$
15
$
SL
Liquidity
Series,
LLC,
Money
Market
Series
(a)
..........
4,510,247
(1,357,809)
(3,108)
492
3,149,822
3,150,767
3,499
(b)
$
(3,108)
$
492
$
4,425,746
$
3,514
$
(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.
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.
BlackRock
Advantage
Large
Cap
Value
V.I.
Fund
6
Schedule
of
Investments
(unaudited)
(continued)
March
31,
2022
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
500
E-Mini
Index
......................................................
5
06/17/22
$
1,133
$
48,588
Glossary
of
Terms
Used
in
this
Report
Portfolio
Abbreviation
S&P
Standard
&
Poor's
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
BlackRock
Global
Valuation
Methodologies
Committee's
(the
"Global
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
Global
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
......................................
$
106,607,694
$
$
$
106,607,694
Short-Term
Securities
.......................................
1,275,924
1,275,924
$
107,883,618
$
$
$
107,883,618
Investments
V
alued
at
NAV
(a)
.....................................
3,149,822
$
$
111,033,440
$
BlackRock
Advantage
Large
Cap
Value
V.I.
Fund
7
Schedule
of
Investments
(unaudited)
(continued)
March
31,
2022
Level
1
Level
2
Level
3
Total
Derivative
Financial
Instruments
(b)
Assets
Equity
contracts
...........................................
$
48,588
$
$
$
48,588
(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
futures
contracts.
Futures
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.