Schedule
of
Investments
(unaudited)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
2
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Common
Stocks
Aerospace
&
Defense
—
1.7%
Airbus
SE
..........................
645
$
150,624
Axon
Enterprise,
Inc.
(a)
.................
151
108,364
BAE
Systems
plc
.....................
4,626
128,771
Boeing
Co.
(The)
(a)
....................
613
132,304
Carpenter
Technology
Corp.
.............
867
212,883
Curtiss-Wright
Corp.
...................
93
50,493
Dassault
Aviation
SA
..................
69
23,244
Elbit
Systems
Ltd.
....................
24
12,210
GE
Aerospace
.......................
1,248
375,423
General
Dynamics
Corp.
................
110
37,510
HEICO
Corp.
,
Class
A
..................
373
94,776
Leonardo
SpA
.......................
559
35,769
Lockheed
Martin
Corp.
(b)
................
425
212,164
Rheinmetall
AG
......................
93
217,543
Rolls-Royce
Holdings
plc
...............
6,848
110,076
RTX
Corp.
.........................
1,230
205,816
Saab
AB
,
Class
B
....................
1,078
66,235
Safran
SA
..........................
813
288,509
Singapore
Technologies
Engineering
Ltd.
.....
11,200
74,788
Thales
SA
..........................
200
63,223
2,600,725
Air
Freight
&
Logistics
—
0.1%
FedEx
Corp.
........................
410
96,682
United
Parcel
Service,
Inc.
,
Class
B
........
1,306
109,090
205,772
Automobile
Components
—
0.3%
Aptiv
plc
(a)
..........................
1,674
144,332
BorgWarner,
Inc.
.....................
2,691
118,296
Cie
Generale
des
Etablissements
Michelin
SCA
1,165
41,956
Continental
AG
......................
594
39,297
Lear
Corp.
(b)
........................
212
21,329
Mobileye
Global,
Inc.
,
Class
A
(a)
(b)
..........
5,245
74,060
Sumitomo
Rubber
Industries
Ltd.
(a)
.........
1,500
18,188
457,458
Automobiles
—
1.5%
General
Motors
Co.
...................
1,975
120,416
Mercedes-Benz
Group
AG
...............
1,642
103,495
Rivian
Automotive,
Inc.
,
Class
A
(a)
..........
884
12,977
Tesla,
Inc.
(a)
.........................
3,961
1,761,536
Toyota
Motor
Corp.
...................
16,200
311,145
2,309,569
Banks
—
5.7%
Banca
Monte
dei
Paschi
di
Siena
SpA
(a)
......
10,836
96,421
Banco
Bilbao
Vizcaya
Argentaria
SA
........
9,907
190,904
Banco
BPM
SpA
.....................
1,170
17,560
Banco
de
Sabadell
SA
.................
6,872
26,823
Banco
Santander
SA
..................
29,863
313,392
Bank
Hapoalim
BM
...................
1,720
34,963
Bank
Leumi
Le-Israel
BM
...............
2,066
40,706
Bank
of
America
Corp.
.................
13,678
705,648
Bank
of
Ireland
Group
plc
...............
1,406
23,280
Barclays
plc
........................
31,637
162,783
BAWAG
Group
AG
(c)
(d)
..................
138
18,193
BNP
Paribas
SA
.....................
2,400
219,511
Citigroup,
Inc.
.......................
3,029
307,443
Commerzbank
AG
....................
1,543
58,421
Commonwealth
Bank
of
Australia
..........
4,435
489,773
Credit
Agricole
SA
....................
2,332
45,955
DBS
Group
Holdings
Ltd.
...............
3,000
118,973
DNB
Bank
ASA
......................
6,626
180,598
FinecoBank
Banca
Fineco
SpA
...........
609
13,217
Security
Shares
Shares
Value
Banks
(continued)
Fukuoka
Financial
Group,
Inc.
(a)
...........
500
$
14,954
HSBC
Holdings
plc
...................
37,331
526,857
ING
Groep
NV
.......................
2,131
55,866
Intesa
Sanpaolo
SpA
..................
71,593
473,887
Israel
Discount
Bank
Ltd.
,
Class
A
.........
1,686
16,657
Japan
Post
Bank
Co.
Ltd.
...............
7,100
86,939
JPMorgan
Chase
&
Co.
................
4,898
1,544,976
Mitsubishi
UFJ
Financial
Group,
Inc.
........
16,500
266,168
Mizuho
Financial
Group,
Inc.
.............
4,300
144,548
NatWest
Group
plc
....................
12,079
85,318
Nordea
Bank
Abp
....................
5,388
88,707
NU
Holdings
Ltd.
,
Class
A
(a)
..............
4,228
67,690
PNC
Financial
Services
Group,
Inc.
(The)
....
456
91,624
Resona
Holdings,
Inc.
.................
3,400
34,671
Shizuoka
Financial
Group,
Inc.
(a)
...........
1,100
15,047
Societe
Generale
SA
..................
925
61,583
Standard
Chartered
plc
.................
5,978
116,018
Sumitomo
Mitsui
Financial
Group,
Inc.
.......
15,300
430,433
Sumitomo
Mitsui
Trust
Group,
Inc.
.........
7,400
214,778
Svenska
Handelsbanken
AB
,
Class
A
.......
13,392
174,734
Swedbank
AB
,
Class
A
.................
2,317
69,940
Truist
Financial
Corp.
..................
833
38,085
UniCredit
SpA
.......................
861
65,518
US
Bancorp
........................
9,415
455,027
Wells
Fargo
&
Co.
....................
5,084
426,141
Westpac
Banking
Corp.
................
1,170
30,145
8,660,875
Beverages
—
0.3%
Coca-Cola
Co.
(The)
..................
3,630
240,742
Coca-Cola
HBC
AG
...................
1,000
47,179
Constellation
Brands,
Inc.
,
Class
A
.........
379
51,040
Keurig
Dr
Pepper,
Inc.
.................
2,144
54,693
Monster
Beverage
Corp.
(a)
...............
1,816
122,235
Primo
Brands
Corp.
,
Class
A
.............
540
11,934
527,823
Biotechnology
—
0.9%
AbbVie,
Inc.
........................
2,330
539,488
Alkermes
plc
(a)
.......................
1,453
43,590
Alnylam
Pharmaceuticals,
Inc.
(a)
...........
52
23,712
Amgen,
Inc.
........................
766
216,165
BioMarin
Pharmaceutical,
Inc.
(a)
...........
264
14,298
Exact
Sciences
Corp.
(a)
.................
275
15,045
Exelixis,
Inc.
(a)
.......................
1,265
52,245
Gilead
Sciences,
Inc.
..................
1,075
119,325
Moderna,
Inc.
(a)
......................
1,425
36,808
Natera,
Inc.
(a)
.......................
587
94,489
Regeneron
Pharmaceuticals,
Inc.
..........
207
116,390
Sarepta
Therapeutics,
Inc.
(a)
.............
123
2,370
United
Therapeutics
Corp.
(a)
..............
69
28,926
Vaxcyte,
Inc.
(a)
.......................
713
25,682
1,328,533
Broadline
Retail
—
2.4%
Amazon.com,
Inc.
(a)
...................
13,638
2,994,496
Coupang,
Inc.
,
Class
A
(a)
................
1,593
51,295
Etsy,
Inc.
(a)
.........................
645
42,821
Global-e
Online
Ltd.
(a)
..................
297
10,621
MercadoLibre,
Inc.
(a)
...................
26
60,760
Prosus
NV
,
Class
N
...................
3,361
237,673
Sea
Ltd.
,
ADR,
Class
A
(a)
................
1,233
220,374
Wesfarmers
Ltd.
.....................
2,028
123,370
3,741,410
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
3
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Building
Products
—
0.1%
Johnson
Controls
International
plc
.........
153
$
16,822
Kingspan
Group
plc
...................
176
14,716
Trane
Technologies
plc
.................
107
45,150
76,688
Capital
Markets
—
3.4%
3i
Group
plc
........................
2,831
156,053
Ameriprise
Financial,
Inc.
...............
476
233,835
Amundi
SA
(c)
(d)
.......................
567
45,062
Ares
Management
Corp.
,
Class
A
..........
249
39,813
Blackstone,
Inc.
,
Class
A
................
969
165,554
Blue
Owl
Capital,
Inc.
,
Class
A
(b)
...........
2,955
50,028
Brookfield
Asset
Management
Ltd.
,
Class
A
...
506
28,812
Carlyle
Group,
Inc.
(The)
................
319
20,001
Charles
Schwab
Corp.
(The)
.............
4,897
467,517
CME
Group,
Inc.
,
Class
A
...............
1,723
465,537
Coinbase
Global,
Inc.
,
Class
A
(a)
...........
375
126,559
Daiwa
Securities
Group,
Inc.
.............
9,500
77,198
Deutsche
Bank
AG
(Registered)
...........
4,502
159,442
Euronext
NV
(c)
(d)
......................
371
55,543
Futu
Holdings
Ltd.
,
ADR
................
194
33,738
Goldman
Sachs
Group,
Inc.
(The)
.........
260
207,051
Hong
Kong
Exchanges
&
Clearing
Ltd.
......
1,700
96,510
HUB24
Ltd.
.........................
209
13,935
Interactive
Brokers
Group,
Inc.
,
Class
A
......
1,842
126,748
Intercontinental
Exchange,
Inc.
...........
1,473
248,171
Invesco
Ltd.
........................
1,215
27,872
Janus
Henderson
Group
plc
.............
5,911
263,099
Jefferies
Financial
Group,
Inc.
............
2,373
155,242
Julius
Baer
Group
Ltd.
.................
225
15,667
KKR
&
Co.,
Inc.
......................
90
11,695
London
Stock
Exchange
Group
plc
.........
1,067
122,367
Macquarie
Group
Ltd.
..................
1,956
283,913
MarketAxess
Holdings,
Inc.
..............
210
36,592
Moody's
Corp.
.......................
87
41,454
Morgan
Stanley
......................
3,196
508,036
Nasdaq,
Inc.
........................
726
64,215
Nomura
Holdings,
Inc.
.................
27,100
198,607
Robinhood
Markets,
Inc.
,
Class
A
(a)
.........
971
139,028
S&P
Global,
Inc.
.....................
370
180,083
Schroders
plc
.......................
8,796
44,636
St.
James's
Place
plc
..................
2,147
36,747
Swissquote
Group
Holding
SA
(Registered)
...
24
16,882
Tradeweb
Markets,
Inc.
,
Class
A
...........
461
51,162
UBS
Group
AG
(Registered)
.............
5,865
241,131
XP,
Inc.
,
Class
A
.....................
217
4,077
5,259,612
Chemicals
—
0.6%
Air
Liquide
SA
.......................
898
187,104
Celanese
Corp.
......................
737
31,013
Corteva,
Inc.
........................
6,198
419,171
Dow,
Inc.
..........................
800
18,344
DuPont
de
Nemours,
Inc.
...............
1,584
123,394
Linde
plc
..........................
292
138,700
PPG
Industries,
Inc.
...................
647
68,006
985,732
Commercial
Services
&
Supplies
—
0.6%
Cintas
Corp.
........................
994
204,028
Copart,
Inc.
(a)
.......................
1,044
46,949
GFL
Environmental,
Inc.
................
1,755
83,179
MSA
Safety,
Inc.
.....................
9
1,549
RB
Global,
Inc.
......................
245
26,548
Republic
Services,
Inc.
.................
1,580
362,578
Securitas
AB
,
Class
B
..................
1,944
29,302
Security
Shares
Shares
Value
Commercial
Services
&
Supplies
(continued)
Waste
Connections,
Inc.
................
84
$
14,767
Waste
Management,
Inc.
................
435
96,061
864,961
Communications
Equipment
—
1.1%
Arista
Networks,
Inc.
(a)
.................
4,046
589,543
Cisco
Systems,
Inc.
...................
8,380
573,360
F5,
Inc.
(a)
..........................
128
41,368
Motorola
Solutions,
Inc.
................
877
401,043
Ubiquiti,
Inc.
........................
52
34,350
1,639,664
Construction
&
Engineering
—
0.6%
AECOM
...........................
1,121
146,257
API
Group
Corp.
(a)
....................
3,716
127,719
Bouygues
SA
.......................
588
26,521
Comfort
Systems
USA,
Inc.
..............
184
151,833
Dycom
Industries,
Inc.
(a)
................
73
21,298
Eiffage
SA
.........................
220
28,186
Ferrovial
SE
........................
721
41,414
Fluor
Corp.
(a)
........................
1,080
45,436
MasTec,
Inc.
(a)
.......................
593
126,196
Obayashi
Corp.
......................
1,300
21,338
Primoris
Services
Corp.
................
159
21,835
Shimizu
Corp.
.......................
1,800
25,286
Vinci
SA
...........................
868
120,628
903,947
Construction
Materials
—
0.0%
James
Hardie
Industries
plc
,
ADR
(a)
........
195
3,746
Consumer
Finance
—
0.5%
Ally
Financial,
Inc.
....................
6,213
243,550
American
Express
Co.
.................
695
230,851
Capital
One
Financial
Corp.
..............
216
45,917
Credit
Saison
Co.
Ltd.
..................
1,000
26,665
OneMain
Holdings,
Inc.
.................
3,343
188,746
735,729
Consumer
Staples
Distribution
&
Retail
—
2.8%
BJ's
Wholesale
Club
Holdings,
Inc.
(a)
........
810
75,533
Casey's
General
Stores,
Inc.
.............
185
104,584
Coles
Group
Ltd.
.....................
6,281
96,682
Costco
Wholesale
Corp.
................
1,281
1,185,732
Dollar
General
Corp.
..................
1,898
196,158
Dollar
Tree,
Inc.
(a)
.....................
1,075
101,448
Kroger
Co.
(The)
.....................
3,427
231,014
Loblaw
Cos.
Ltd.
.....................
2,169
83,896
Performance
Food
Group
Co.
(a)
(b)
..........
346
35,998
Seven
&
i
Holdings
Co.
Ltd.
..............
2,900
38,913
Sprouts
Farmers
Market,
Inc.
(a)
............
1,845
200,736
Sysco
Corp.
........................
4,095
337,182
Target
Corp.
........................
2,042
183,167
US
Foods
Holding
Corp.
(a)
...............
174
13,332
Walmart,
Inc.
........................
13,293
1,369,977
4,254,352
Diversified
Consumer
Services
—
0.1%
(a)
Bright
Horizons
Family
Solutions,
Inc.
.......
288
31,268
Duolingo,
Inc.
,
Class
A
.................
218
70,161
101,429
Diversified
REITs
—
0.0%
Land
Securities
Group
plc
...............
3,084
24,189
Diversified
Telecommunication
Services
—
0.2%
Deutsche
Telekom
AG
(Registered)
........
5,491
187,075
Frontier
Communications
Parent,
Inc.
(a)
......
310
11,579
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
4
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Diversified
Telecommunication
Services
(continued)
Singapore
Telecommunications
Ltd.
........
49,700
$
158,894
357,548
Electric
Utilities
—
0.5%
Constellation
Energy
Corp.
..............
215
70,750
Edison
International
...................
2,600
143,728
Iberdrola
SA
........................
14,068
266,298
Kansai
Electric
Power
Co.,
Inc.
(The)
.......
2,100
30,038
NextEra
Energy,
Inc.
..................
676
51,031
NRG
Energy,
Inc.
.....................
432
69,963
PG&E
Corp.
........................
6,605
99,603
SSE
plc
...........................
3,208
75,246
Tohoku
Electric
Power
Co.,
Inc.
(a)
..........
3,000
21,783
828,440
Electrical
Equipment
—
0.5%
ABB
Ltd.
(Registered)
..................
2,815
203,703
Accelleron
Industries
AG
................
133
11,263
Eaton
Corp.
plc
......................
240
89,820
GE
Vernova,
Inc.
.....................
148
91,005
Rockwell
Automation,
Inc.
...............
202
70,605
Schneider
Electric
SE
..................
301
84,723
Siemens
Energy
AG
(a)
..................
2,203
259,027
810,146
Electronic
Equipment,
Instruments
&
Components
—
0.6%
Amphenol
Corp.
,
Class
A
...............
141
17,449
Arrow
Electronics,
Inc.
(a)
................
474
57,354
Badger
Meter,
Inc.
....................
191
34,109
Flex
Ltd.
(a)
..........................
2,467
143,012
Hexagon
AB
,
Class
B
..................
1,240
14,797
Jabil,
Inc.
..........................
292
63,413
Keysight
Technologies,
Inc.
(a)
.............
563
98,480
Kyocera
Corp.
.......................
6,400
85,976
Murata
Manufacturing
Co.
Ltd.
............
5,900
112,006
TE
Connectivity
plc
...................
631
138,523
Teledyne
Technologies,
Inc.
(a)
.............
227
133,031
Zebra
Technologies
Corp.
,
Class
A
(a)
........
68
20,207
918,357
Entertainment
—
1.0%
Netflix,
Inc.
(a)
........................
686
822,459
ROBLOX
Corp.
,
Class
A
(a)
...............
723
100,150
Spotify
Technology
SA
(a)
................
512
357,376
Walt
Disney
Co.
(The)
.................
2,617
299,647
1,579,632
Financial
Services
—
2.7%
Affirm
Holdings,
Inc.
,
Class
A
(a)
............
308
22,509
Apollo
Global
Management,
Inc.
...........
519
69,167
Berkshire
Hathaway,
Inc.
,
Class
B
(a)
........
2,351
1,181,942
Block,
Inc.
,
Class
A
(a)
..................
816
58,972
Edenred
SE
........................
573
13,646
Essent
Group
Ltd.
....................
1,982
125,976
Fidelity
National
Information
Services,
Inc.
....
2,245
148,035
Fiserv,
Inc.
(a)
........................
1,495
192,750
Global
Payments,
Inc.
.................
2,068
171,809
Industrivarden
AB
,
Class
A
..............
904
35,914
M&G
plc
...........................
9,749
33,247
Mastercard,
Inc.
,
Class
A
................
1,274
724,664
MGIC
Investment
Corp.
................
1,645
46,669
Mr
Cooper
Group,
Inc.
.................
35
7,378
ORIX
Corp.
.........................
4,900
128,605
PayPal
Holdings,
Inc.
(a)
.................
270
18,106
Toast,
Inc.
,
Class
A
(a)
..................
625
22,819
Visa,
Inc.
,
Class
A
....................
3,037
1,036,771
Security
Shares
Shares
Value
Financial
Services
(continued)
Voya
Financial,
Inc.
...................
461
$
34,483
4,073,462
Food
Products
—
0.2%
Chocoladefabriken
Lindt
&
Spruengli
AG
.....
1
15,289
Chocoladefabriken
Lindt
&
Spruengli
AG
(Registered)
......................
1
150,471
Hershey
Co.
(The)
....................
193
36,101
Kellanova
..........................
370
30,347
Kerry
Group
plc
,
Class
A
................
268
24,194
Nestle
SA
(Registered)
.................
704
64,652
321,054
Gas
Utilities
—
0.1%
Brookfield
Infrastructure
Corp.
,
Class
A
......
923
37,909
Snam
SpA
.........................
8,457
50,778
88,687
Ground
Transportation
—
0.1%
TFI
International,
Inc.
..................
320
28,162
Uber
Technologies,
Inc.
(a)
...............
235
23,023
Union
Pacific
Corp.
...................
250
59,093
110,278
Health
Care
Equipment
&
Supplies
—
0.7%
Align
Technology,
Inc.
(a)
.................
197
24,668
Boston
Scientific
Corp.
(a)
................
3,278
320,031
Dexcom,
Inc.
(a)
......................
644
43,335
Edwards
Lifesciences
Corp.
(a)
............
222
17,265
EssilorLuxottica
SA
...................
620
201,967
Insulet
Corp.
(a)
.......................
184
56,806
Intuitive
Surgical,
Inc.
(a)
.................
303
135,511
Medtronic
plc
.......................
493
46,953
STERIS
plc
.........................
273
67,551
Stryker
Corp.
.......................
332
122,731
1,036,818
Health
Care
Providers
&
Services
—
2.0%
Cardinal
Health,
Inc.
...................
2,329
365,560
Cencora,
Inc.
.......................
155
48,442
Centene
Corp.
(a)
.....................
4,029
143,755
Cigna
Group
(The)
....................
1,276
367,807
CVS
Health
Corp.
....................
1,788
134,797
Elevance
Health,
Inc.
..................
708
228,769
Encompass
Health
Corp.
...............
2,145
272,458
Guardant
Health,
Inc.
(a)
.................
852
53,233
HCA
Healthcare,
Inc.
..................
369
157,268
HealthEquity,
Inc.
(a)
....................
125
11,846
Humana,
Inc.
.......................
96
24,976
McKesson
Corp.
.....................
507
391,678
Molina
Healthcare,
Inc.
(a)
................
218
41,716
Option
Care
Health,
Inc.
(a)
...............
556
15,435
Tenet
Healthcare
Corp.
(a)
................
759
154,107
UnitedHealth
Group,
Inc.
................
1,606
554,552
Universal
Health
Services,
Inc.
,
Class
B
.....
252
51,519
3,017,918
Health
Care
Technology
—
0.1%
Doximity,
Inc.
,
Class
A
(a)
................
1,442
105,482
Pro
Medicus
Ltd.
.....................
238
48,456
Waystar
Holding
Corp.
(a)
................
1,225
46,452
200,390
Hotels,
Restaurants
&
Leisure
—
1.0%
Airbnb,
Inc.
,
Class
A
(a)
..................
1,412
171,445
Aristocrat
Leisure
Ltd.
..................
6,027
279,011
Booking
Holdings,
Inc.
.................
64
345,553
Brinker
International,
Inc.
(a)
..............
216
27,363
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
5
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Hotels,
Restaurants
&
Leisure
(continued)
Carnival
Corp.
(a)
......................
879
$
25,412
Chipotle
Mexican
Grill,
Inc.
(a)
.............
3,150
123,448
DoorDash,
Inc.
,
Class
A
(a)
...............
344
93,565
DraftKings,
Inc.
,
Class
A
(a)
...............
391
14,623
Dutch
Bros,
Inc.
,
Class
A
(a)
..............
654
34,230
Galaxy
Entertainment
Group
Ltd.
..........
12,000
65,980
Light
&
Wonder,
Inc.
,
Class
A
(a)
............
258
21,657
McDonald's
Corp.
....................
615
186,892
Planet
Fitness,
Inc.
,
Class
A
(a)
............
1,009
104,734
Restaurant
Brands
International,
Inc.
........
304
19,499
Viking
Holdings
Ltd.
(a)
..................
299
18,586
1,531,998
Household
Durables
—
0.8%
Barratt
Redrow
plc
....................
3,654
19,224
Berkeley
Group
Holdings
plc
.............
799
41,296
DR
Horton,
Inc.
......................
670
113,545
Installed
Building
Products,
Inc.
...........
94
23,186
Lennar
Corp.
,
Class
A
..................
385
48,525
Meritage
Homes
Corp.
.................
1,070
77,500
Panasonic
Holdings
Corp.
...............
14,600
158,470
Persimmon
plc
......................
1,755
27,418
PulteGroup,
Inc.
.....................
166
21,934
Sekisui
House
Ltd.
....................
7,700
175,118
Sony
Group
Corp.
....................
16,000
459,947
Taylor
Morrison
Home
Corp.
(a)
............
1,761
116,244
Taylor
Wimpey
plc
....................
11,228
15,598
1,298,005
Household
Products
—
0.2%
Procter
&
Gamble
Co.
(The)
.............
696
106,940
Reckitt
Benckiser
Group
plc
..............
1,408
108,419
Unicharm
Corp.
......................
22,100
143,373
358,732
Industrial
Conglomerates
—
0.6%
Hitachi
Ltd.
.........................
5,100
135,115
Honeywell
International,
Inc.
.............
3,388
713,174
Siemens
AG
(Registered)
...............
207
55,885
904,174
Industrial
REITs
—
0.0%
Segro
plc
..........................
3,824
33,789
Insurance
—
2.8%
Aegon
Ltd.
.........................
12,854
103,629
Aflac,
Inc.
..........................
1,110
123,987
Ageas
SA
..........................
631
43,764
AIA
Group
Ltd.
......................
50,800
486,865
Allianz
SE
(Registered)
.................
662
278,521
Allstate
Corp.
(The)
...................
268
57,526
American
International
Group,
Inc.
.........
468
36,757
ASR
Nederland
NV
...................
1,545
105,136
Assurant,
Inc.
.......................
153
33,140
AXA
SA
...........................
3,623
173,741
Brighthouse
Financial,
Inc.
(a)
.............
78
4,140
Dai-ichi
Life
Holdings,
Inc.
...............
20,500
161,257
Hartford
Insurance
Group,
Inc.
(The)
........
374
49,888
Helvetia
Holding
AG
(Registered)
..........
46
11,304
Insurance
Australia
Group
Ltd.
............
4,847
26,265
Japan
Post
Holdings
Co.
Ltd.
.............
51,000
506,190
MetLife,
Inc.
........................
4,005
329,892
MS&AD
Insurance
Group
Holdings,
Inc.
.....
5,800
131,346
NN
Group
NV
.......................
344
24,258
Principal
Financial
Group,
Inc.
............
914
75,780
Progressive
Corp.
(The)
................
1,012
249,913
Prudential
Financial,
Inc.
................
481
49,899
Security
Shares
Shares
Value
Insurance
(continued)
Reinsurance
Group
of
America,
Inc.
........
587
$
112,780
Sompo
Holdings,
Inc.
..................
1,500
46,373
Sony
Financial
Group,
Inc.
(a)
.............
16,000
17,744
Swiss
Life
Holding
AG
(Registered)
.........
57
61,538
Swiss
Re
AG
........................
587
109,022
Tokio
Marine
Holdings,
Inc.
..............
2,100
88,879
Travelers
Cos.,
Inc.
(The)
...............
1,129
315,239
Tryg
A/S
...........................
3,654
92,772
Unum
Group
........................
242
18,823
Zurich
Insurance
Group
AG
(b)
.............
489
349,529
4,275,897
Interactive
Media
&
Services
—
3.2%
Alphabet,
Inc.
,
Class
A
.................
6,377
1,550,249
Alphabet,
Inc.
,
Class
C
.................
5,004
1,218,724
LY
Corp.
...........................
22,300
71,583
Meta
Platforms,
Inc.
,
Class
A
.............
2,628
1,929,950
REA
Group
Ltd.
......................
416
63,614
Reddit,
Inc.
,
Class
A
(a)
..................
125
28,749
4,862,869
IT
Services
—
1.1%
Accenture
plc
,
Class
A
.................
1,000
246,600
Capgemini
SE
.......................
222
32,385
Gartner,
Inc.
(a)
.......................
690
181,380
GoDaddy,
Inc.
,
Class
A
(a)
................
942
128,894
International
Business
Machines
Corp.
......
1,295
365,397
Kyndryl
Holdings,
Inc.
(a)
.................
743
22,312
NEC
Corp.
.........................
5,800
185,653
Otsuka
Corp.
.......................
2,200
45,923
Snowflake,
Inc.
,
Class
A
(a)
...............
403
90,897
VeriSign,
Inc.
.......................
1,157
323,463
Wix.com
Ltd.
(a)
.......................
432
76,736
1,699,640
Leisure
Products
—
0.1%
Bandai
Namco
Holdings,
Inc.
.............
400
13,308
Hasbro,
Inc.
........................
2,429
184,240
197,548
Life
Sciences
Tools
&
Services
—
0.2%
Danaher
Corp.
......................
565
112,017
Eurofins
Scientific
SE
..................
282
20,565
Mettler-Toledo
International,
Inc.
(a)
.........
37
45,422
QIAGEN
NV
........................
1,569
70,103
248,107
Machinery
—
0.3%
Dover
Corp.
........................
106
17,684
Flowserve
Corp.
(b)
....................
322
17,111
Mitsubishi
Heavy
Industries
Ltd.
...........
5,300
138,696
Otis
Worldwide
Corp.
..................
1,535
140,345
Parker-Hannifin
Corp.
..................
29
21,986
RENK
Group
AG
(a)
....................
163
16,874
Techtronic
Industries
Co.
Ltd.
.............
1,500
19,175
Toyota
Industries
Corp.
.................
200
22,494
394,365
Marine
Transportation
—
0.1%
AP
Moller
-
Maersk
A/S
,
Class
A
...........
14
27,462
AP
Moller
-
Maersk
A/S
,
Class
B
...........
22
43,247
Kirby
Corp.
(a)
........................
409
34,131
Mitsui
OSK
Lines
Ltd.
..................
600
18,216
123,056
Media
—
0.5%
Charter
Communications,
Inc.
,
Class
A
(a)
(b)
....
364
100,138
Comcast
Corp.
,
Class
A
................
11,807
370,976
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
6
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Media
(continued)
Fox
Corp.
,
Class
B
....................
1,234
$
70,696
Informa
plc
.........................
5,500
68,125
Interpublic
Group
of
Cos.,
Inc.
(The)
........
191
5,331
Publicis
Groupe
SA
...................
443
42,631
Trade
Desk,
Inc.
(The)
,
Class
A
(a)
..........
2,038
99,882
WPP
plc
...........................
1,452
7,238
765,017
Metals
&
Mining
—
0.4%
Anglo
American
plc
...................
1,319
49,736
Anglogold
Ashanti
plc
..................
705
49,582
Antofagasta
plc
......................
1,339
49,797
Fortescue
Ltd.
.......................
4,546
56,300
Nucor
Corp.
........................
1,105
149,650
Rio
Tinto
plc
........................
1,100
72,493
Southern
Copper
Corp.
.................
109
13,228
SSAB
AB
,
Class
B
....................
4,356
25,403
Steel
Dynamics,
Inc.
...................
88
12,270
thyssenkrupp
AG
(a)
....................
7,752
106,961
585,420
Multi-Utilities
—
0.2%
Centrica
plc
........................
10,071
22,616
Engie
SA
..........................
2,677
57,546
National
Grid
plc
.....................
10,931
157,064
Veolia
Environnement
SA
...............
2,285
77,923
315,149
Office
REITs
—
0.0%
Gecina
SA
.........................
208
20,896
Oil,
Gas
&
Consumable
Fuels
—
2.5%
Antero
Resources
Corp.
(a)
...............
930
31,211
BP
plc
............................
36,406
209,031
Canadian
Natural
Resources
Ltd.
..........
5,086
162,626
Chevron
Corp.
.......................
2,174
337,600
Chord
Energy
Corp.
...................
216
21,464
Coterra
Energy,
Inc.
...................
3,308
78,234
Devon
Energy
Corp.
...................
3,809
133,544
ENEOS
Holdings,
Inc.
.................
41,000
259,661
Expand
Energy
Corp.
..................
1,311
139,281
Exxon
Mobil
Corp.
....................
5,101
575,138
HF
Sinclair
Corp.
.....................
1,203
62,965
Kinder
Morgan,
Inc.
...................
13,012
368,370
Marathon
Petroleum
Corp.
..............
674
129,907
ONEOK,
Inc.
........................
363
26,488
Ovintiv,
Inc.
.........................
344
13,891
Phillips
66
..........................
1,270
172,745
Repsol
SA
.........................
940
16,715
Santos
Ltd.
.........................
9,894
43,938
Shell
plc
...........................
13,917
496,016
Targa
Resources
Corp.
.................
284
47,581
TotalEnergies
SE
.....................
2,862
174,321
Valero
Energy
Corp.
...................
278
47,332
Williams
Cos.,
Inc.
(The)
................
3,976
251,880
3,799,939
Paper
&
Forest
Products
—
0.1%
Louisiana-Pacific
Corp.
.................
1,095
97,280
Passenger
Airlines
—
0.2%
American
Airlines
Group,
Inc.
(a)
............
3,275
36,811
Delta
Air
Lines,
Inc.
...................
1,013
57,488
Deutsche
Lufthansa
AG
(Registered)
.......
1,629
13,826
Qantas
Airways
Ltd.
...................
16,522
119,385
Singapore
Airlines
Ltd.
.................
4,400
22,244
Southwest
Airlines
Co.
.................
742
23,677
Security
Shares
Shares
Value
Passenger
Airlines
(continued)
United
Airlines
Holdings,
Inc.
(a)
............
441
$
42,556
315,987
Personal
Care
Products
—
0.1%
BellRing
Brands,
Inc.
(a)
.................
597
21,701
Unilever
plc
.........................
3,172
187,493
209,194
Pharmaceuticals
—
1.4%
AstraZeneca
plc
.....................
3,068
470,021
Bristol-Myers
Squibb
Co.
................
2,774
125,107
Eli
Lilly
&
Co.
.......................
249
189,987
GSK
plc
...........................
8,245
177,036
Haleon
plc
.........................
9,317
41,928
Ipsen
SA
..........................
204
27,392
Johnson
&
Johnson
...................
638
118,298
Novartis
AG
(Registered)
...............
1,699
218,455
Novo
Nordisk
A/S
,
Class
B
..............
1,182
65,816
Pfizer,
Inc.
.........................
14,968
381,385
Roche
Holding
AG
....................
105
36,329
Royalty
Pharma
plc
,
Class
A
.............
516
18,204
Sanofi
SA
..........................
2,419
229,065
2,099,023
Professional
Services
—
1.6%
Automatic
Data
Processing,
Inc.
...........
1,145
336,058
Booz
Allen
Hamilton
Holding
Corp.
.........
1,399
139,830
Broadridge
Financial
Solutions,
Inc.
........
225
53,588
Bureau
Veritas
SA
....................
552
17,314
CACI
International,
Inc.
,
Class
A
(a)
.........
189
94,269
Computershare
Ltd.
...................
2,478
59,536
Equifax,
Inc.
........................
312
80,037
ExlService
Holdings,
Inc.
(a)
..............
6,303
277,521
Experian
plc
........................
4,304
216,178
Genpact
Ltd.
........................
615
25,762
KBR,
Inc.
..........................
1,651
78,076
Leidos
Holdings,
Inc.
..................
226
42,705
Paycom
Software,
Inc.
.................
144
29,972
Paylocity
Holding
Corp.
(a)
...............
605
96,358
Recruit
Holdings
Co.
Ltd.
...............
4,100
220,432
RELX
plc
..........................
2,555
122,075
Robert
Half,
Inc.
(b)
....................
131
4,451
SGS
SA
(Registered)
..................
1,777
184,666
SS&C
Technologies
Holdings,
Inc.
.........
988
87,695
Thomson
Reuters
Corp.
................
123
19,099
UL
Solutions,
Inc.
,
Class
A
...............
489
34,651
Verisk
Analytics,
Inc.
...................
559
140,594
Wolters
Kluwer
NV
....................
237
32,351
2,393,218
Real
Estate
Management
&
Development
—
0.4%
Daiwa
House
Industry
Co.
Ltd.
............
900
32,323
FirstService
Corp.
....................
258
49,157
Hulic
Co.
Ltd.
.......................
3,800
41,626
Mitsui
Fudosan
Co.
Ltd.
................
2,900
31,570
Nomura
Real
Estate
Holdings,
Inc.
(b)
........
31,700
202,012
Sino
Land
Co.
Ltd.
....................
14,000
17,701
Tokyo
Tatemono
Co.
Ltd.
................
10,000
200,159
Tokyu
Fudosan
Holdings
Corp.
(b)
..........
7,200
59,513
Vonovia
SE
.........................
1,142
35,689
669,750
Residential
REITs
—
0.1%
Invitation
Homes,
Inc.
..................
7,651
224,404
Retail
REITs
—
0.1%
Simon
Property
Group,
Inc.
..............
619
116,168
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
7
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Semiconductors
&
Semiconductor
Equipment
—
7.9%
Advanced
Micro
Devices,
Inc.
(a)
...........
2,344
$
379,236
Advantest
Corp.
......................
200
19,789
Analog
Devices,
Inc.
...................
1,380
339,066
Applied
Materials,
Inc.
.................
896
183,447
ASML
Holding
NV
....................
421
410,554
Astera
Labs,
Inc.
(a)
....................
270
52,866
Broadcom,
Inc.
......................
6,264
2,066,556
Credo
Technology
Group
Holding
Ltd.
(a)
......
492
71,640
Infineon
Technologies
AG
...............
301
11,808
Intel
Corp.
(a)
........................
9,750
327,112
KLA
Corp.
..........................
231
249,157
Lam
Research
Corp.
..................
2,016
269,942
MACOM
Technology
Solutions
Holdings,
Inc.
(a)
.
458
57,016
Marvell
Technology,
Inc.
................
2,474
207,989
Microchip
Technology,
Inc.
(b)
.............
1,406
90,293
Micron
Technology,
Inc.
.................
1,478
247,299
NVIDIA
Corp.
.......................
32,832
6,125,795
Onto
Innovation,
Inc.
(a)
.................
241
31,142
QUALCOMM,
Inc.
....................
2,088
347,360
Rambus,
Inc.
(a)
......................
247
25,737
SiTime
Corp.
(a)
.......................
62
18,681
Skyworks
Solutions,
Inc.
................
322
24,788
STMicroelectronics
NV
.................
2,321
65,603
Texas
Instruments,
Inc.
.................
1,837
337,512
Tokyo
Electron
Ltd.
...................
700
124,087
Tower
Semiconductor
Ltd.
(a)
..............
467
33,764
12,118,239
Software
—
6.0%
Adobe,
Inc.
(a)
........................
1,291
455,400
AppLovin
Corp.
,
Class
A
(a)
...............
221
158,797
Autodesk,
Inc.
(a)
......................
108
34,308
Check
Point
Software
Technologies
Ltd.
(a)
....
401
82,971
Confluent,
Inc.
,
Class
A
(a)
...............
1,164
23,047
Crowdstrike
Holdings,
Inc.
,
Class
A
(a)
........
56
27,461
CyberArk
Software
Ltd.
(a)
................
44
21,259
Dassault
Systemes
SE
.................
1,961
65,970
Datadog,
Inc.
,
Class
A
(a)
................
136
19,367
Elastic
NV
(a)
........................
1,518
128,256
Fair
Isaac
Corp.
(a)
.....................
49
73,330
Fortinet,
Inc.
(a)
.......................
323
27,158
Guidewire
Software,
Inc.
(a)
...............
205
47,121
HubSpot,
Inc.
(a)
......................
120
56,136
Intuit,
Inc.
..........................
508
346,918
Microsoft
Corp.
......................
9,758
5,054,156
Nutanix,
Inc.
,
Class
A
(a)
.................
212
15,771
Oracle
Corp.
........................
1,560
438,735
Palantir
Technologies,
Inc.
,
Class
A
(a)
.......
3,003
547,807
Palo
Alto
Networks,
Inc.
(a)
...............
696
141,720
Rubrik,
Inc.
,
Class
A
(a)
..................
165
13,571
Salesforce,
Inc.
......................
1,272
301,464
SAP
SE
...........................
1,476
395,225
SentinelOne,
Inc.
,
Class
A
(a)
..............
525
9,245
ServiceNow,
Inc.
(a)
....................
339
311,975
Strategy,
Inc.
,
Class
A
(a)
................
292
94,085
Teradata
Corp.
(a)
.....................
126
2,710
Workday,
Inc.
,
Class
A
(a)
................
736
177,177
Zscaler,
Inc.
(a)
.......................
183
54,838
9,125,978
Specialized
REITs
—
0.5%
American
Tower
Corp.
.................
385
74,043
CubeSmart
(b)
........................
2,826
114,905
Digital
Realty
Trust,
Inc.
................
586
101,308
Equinix,
Inc.
........................
306
239,671
Iron
Mountain,
Inc.
....................
1,885
192,157
Security
Shares
Shares
Value
Specialized
REITs
(continued)
Millrose
Properties,
Inc.
,
Class
A
...........
160
$
5,378
727,462
Specialty
Retail
—
0.6%
Asbury
Automotive
Group,
Inc.
(a)
...........
135
33,001
AutoNation,
Inc.
(a)
.....................
340
74,382
AutoZone,
Inc.
(a)
.....................
10
42,902
Bath
&
Body
Works,
Inc.
................
483
12,442
CarMax,
Inc.
(a)
.......................
2,262
101,496
Carvana
Co.
,
Class
A
(a)
.................
448
169,004
Group
1
Automotive,
Inc.
................
140
61,251
Home
Depot,
Inc.
(The)
................
120
48,623
Industria
de
Diseno
Textil
SA
.............
670
37,080
JB
Hi-Fi
Ltd.
........................
1,228
94,246
Lithia
Motors,
Inc.
,
Class
A
..............
281
88,796
Lowe's
Cos.,
Inc.
.....................
324
81,425
844,648
Technology
Hardware,
Storage
&
Peripherals
—
3.5%
Apple,
Inc.
.........................
19,770
5,034,035
Canon,
Inc.
.........................
400
11,673
Dell
Technologies,
Inc.
,
Class
C
(b)
..........
1,022
144,889
Logitech
International
SA
(Registered)
.......
383
42,129
Pure
Storage,
Inc.
,
Class
A
(a)
.............
358
30,004
Sandisk
Corp.
(a)
......................
342
38,372
Seiko
Epson
Corp.
....................
1,100
14,072
Super
Micro
Computer,
Inc.
(a)
.............
490
23,491
5,338,665
Textiles,
Apparel
&
Luxury
Goods
—
0.8%
adidas
AG
.........................
829
175,650
Amer
Sports,
Inc.
(a)
....................
4,297
149,321
Capri
Holdings
Ltd.
(a)
..................
1
20
Cie
Financiere
Richemont
SA
(Registered)
....
666
127,849
Crocs,
Inc.
(a)
........................
138
11,530
Deckers
Outdoor
Corp.
(a)
................
263
26,660
Hermes
International
SCA
...............
21
51,640
Lululemon
Athletica,
Inc.
(a)
...............
745
132,558
LVMH
Moet
Hennessy
Louis
Vuitton
SE
......
343
211,076
NIKE,
Inc.
,
Class
B
...................
955
66,592
On
Holding
AG
,
Class
A
(a)
...............
2,425
102,699
Ralph
Lauren
Corp.
,
Class
A
.............
151
47,347
Tapestry,
Inc.
........................
1,445
163,603
VF
Corp.
..........................
1,093
15,772
1,282,317
Tobacco
—
0.9%
Altria
Group,
Inc.
.....................
8,783
580,205
British
American
Tobacco
plc
.............
727
38,667
Japan
Tobacco,
Inc.
...................
3,800
124,629
Philip
Morris
International,
Inc.
............
4,138
671,184
1,414,685
Trading
Companies
&
Distributors
—
0.4%
AerCap
Holdings
NV
(b)
.................
2,273
275,033
Air
Lease
Corp.
,
Class
A
................
783
49,838
Ashtead
Group
plc
....................
1,855
124,399
Ferguson
Enterprises,
Inc.
...............
484
108,697
Mitsui
&
Co.
Ltd.
.....................
4,100
101,808
659,775
Transportation
Infrastructure
—
0.0%
Aena
SME
SA
(a)
(c)
(d)
...................
920
25,152
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
8
(Percentages
shown
are
based
on
Net
Assets)
Security
Shares
Shares
Value
Water
Utilities
—
0.0%
Severn
Trent
plc
.....................
885
$
30,857
United
Utilities
Group
plc
................
2,354
36,366
67,223
Wireless
Telecommunication
Services
—
0.2%
SoftBank
Corp.
......................
139,600
205,324
SoftBank
Group
Corp.
.................
500
63,090
268,414
Total
Common
Stocks
—
70
.2
%
(Cost:
$
91,863,373
)
...............................
107,437,127
Par
(000)
Par
(000)
Corporate
Bonds
Diversified
Telecommunication
Services
—
0.0%
AT&T,
Inc.,
7.13%,
12/15/31
............
USD
25
27,966
Total
Corporate
Bonds
—
0.0
%
(Cost:
$
27,948
)
.................................
27,966
Beneficial
Interest
(000)
Other
Interests
(e)
Capital
Markets
—
0.0%
Lehman
Brothers
Holdings,
Inc.
(a)
(f)
(g)
........
25
—
Total
Other
Interests
—
0.0
%
(Cost:
$
—
)
.....................................
—
Shares
Shares
Preferred
Securities
Preferred
Stocks
—
0.0%
Household
Products
—
0.0%
Henkel
AG
&
Co.
KGaA
(Preference)
........
187
15,088
Total
Preferred
Securities
—
0.0
%
(Cost:
$
16,272
)
.................................
15,088
Security
Shares
Shares
Value
Rights
Consumer
Staples
Distribution
&
Retail
—
0.0%
Walgreens
Boots
Alliance,
Inc.,
CVR
(a)
(g)
.....
986
$
523
Health
Care
Equipment
&
Supplies
—
0.0%
ABIOMED,
Inc.,
CVR
(a)
(g)
...............
105
236
Total
Rights
—
0.0
%
(Cost:
$
630
)
....................................
759
Total
Long-Term
Investments
—
70.2%
(Cost:
$
91,908,223
)
...............................
107,480,940
Short-Term
Securities
Money
Market
Funds
—
10.8%
(h)(i)
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
4.26
%
(j)
....................
1,437,358
1,438,077
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class
,
4.01
%
.....................
15,132,577
15,132,577
Total
Money
Market
Funds
—
10
.8
%
(Cost:
$
16,570,654
)
...............................
16,570,654
Par
(000)
Pa
r
(
000)
U.S.
Treasury
Obligations
—
5.4%
U.S.
Treasury
Bills
(k)
4.19
%
,
10/07/25
...................
USD
3,702
3,699,690
4.09
%
,
10/28/25
...................
4,616
4,602,197
Total
U.S.
Treasury
Obligations
—
5
.4
%
(Cost:
$
8,301,698
)
...............................
8,301,887
Total
Short-Term
Securities
—
16.2%
(Cost:
$
24,872,352
)
...............................
24,872,541
Total
Investments
—
86
.4
%
(Cost:
$
116,780,575
)
..............................
132,353,481
Other
Assets
Less
Liabilities
—
13.6
%
...................
20,789,665
Net
Assets
—
100.0%
...............................
$
153,143,146
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
this
security
is
on
loan.
(c)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration
to
qualified
institutional
investors.
(d)
This
security
may
be
resold
to
qualified
foreign
investors
and
foreign
institutional
buyers
under
Regulation
S
of
the
Securities
Act
of
1933.
(e)
Other
interests
represent
beneficial
interests
in
liquidation
trusts
and
other
reorganization
or
private
entities.
(f)
Issuer
filed
for
bankruptcy
and/or
is
in
default.
(g)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(h)
Affiliate
of
the
Fund.
(i)
Annualized
7-day
yield
as
of
period
end.
(j)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
(k)
Rates
are
discount
rates
or
a
range
of
discount
rates
as
of
period
end.
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
9
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the period
ended
September
30,
2025
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
12/31/24
Purchases
at
Cost
Proceeds
from
Sales
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
09/30/25
Shares
Held
at
09/30/25
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
..............
$
1,106,310
$
331,939
(a)
$
—
$
(
172
)
$
—
$
1,438,077
1,437,358
$
3,110
(b)
$
—
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class
.
11,020,763
4,111,814
(a)
—
—
—
15,132,577
15,132,577
301,227
—
$
(
172
)
$
—
$
16,570,654
$
304,337
$
—
—
—
(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
collateral
investment
fees,
and
other
payments
to
and
from
borrowers
of
securities.
For
purposes
of
this
report,
industry
and
sector
sub-classifications
may
differ
from
those
utilized
by
the
Fund
for
compliance
purposes.
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
10
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
CAC
40
Index
............................................................
90
10/17/25
$
8,397
$
106,714
Euro-Bund
..............................................................
393
12/08/25
59,322
134,726
Euro-OAT
...............................................................
67
12/08/25
9,546
(
15,929
)
TOPIX
Index
.............................................................
28
12/11/25
5,937
41,027
FTSE/JSE
Top
40
Index
.....................................................
1
12/18/25
59
2,103
S&P/TSX
60
Index
.........................................................
13
12/18/25
3,312
62,090
DAX
Index
..............................................................
2
12/19/25
1,414
15,436
FTSE
100
Index
...........................................................
9
12/19/25
1,144
14,343
FTSE/MIB
Index
...........................................................
27
12/19/25
6,735
(
23,509
)
MSCI
EAFE
Index
.........................................................
23
12/19/25
3,203
12,400
S&P
500
E-Mini
Index
.......................................................
23
12/19/25
7,750
100,258
U.S.
Treasury
10-Year
Note
...................................................
7
12/19/25
787
1,719
WIG20
Index
.............................................................
219
12/19/25
3,448
(
5,742
)
Long
Gilt
................................................................
227
12/29/25
27,733
(
107,313
)
SET50
Index
.............................................................
401
12/29/25
2,020
(
9,379
)
328,944
Short
Contracts
IBEX
35
Index
............................................................
27
10/17/25
4,935
(
119,985
)
OMX
Stockholm
30
Index
....................................................
225
10/17/25
6,388
(
63,792
)
IFSC
NIFTY
50
Index
.......................................................
100
10/28/25
4,953
57,819
MSCI
Singapore
Index
......................................................
59
10/30/25
2,047
(
1,810
)
Euro-BTP
...............................................................
102
12/08/25
14,351
(
90,262
)
Euro-Bund
..............................................................
130
12/08/25
19,623
(
53,218
)
Euro-Buxl
...............................................................
17
12/08/25
2,285
(
56,482
)
TOPIX
Index
.............................................................
7
12/11/25
1,484
10,860
Australia
10-Year
Bond
......................................................
124
12/15/25
9,301
19,184
Japan
10-Year
Bond
........................................................
20
12/15/25
18,364
151,725
Canada
10-Year
Bond
.......................................................
719
12/18/25
63,267
(
887,959
)
SPI
200
Index
............................................................
38
12/18/25
5,578
938
Mini-DAX
Index
...........................................................
4
12/19/25
566
(
7,974
)
MSCI
EAFE
Index
.........................................................
196
12/19/25
27,296
(
122,927
)
Nasdaq-100
E-Mini
Index
.....................................................
18
12/19/25
8,965
(
233,776
)
S&P
500
E-Mini
Index
.......................................................
92
12/19/25
30,998
(
331,023
)
U.S.
Treasury
Ultra
Bond
.....................................................
200
12/19/25
24,019
(
533,321
)
U.S.
Treasury
2-Year
Note
....................................................
1
12/31/25
208
(
6
)
(
2,262,009
)
$
(
1,933,065
)
Forward
Foreign
Currency
Exchange
Contracts
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation  
(Depreciation)
AUD
9,428,280
USD
6,213,417
Morgan
Stanley
&
Co.
International
plc
12/17/25
$
30,977
BRL
10,116,000
USD
1,818,460
HSBC
Bank
plc
12/17/25
47,903
CLP
1,188,099,000
USD
1,224,226
Goldman
Sachs
International
12/17/25
11,472
EUR
5,273,589
USD
6,217,251
Morgan
Stanley
&
Co.
International
plc
12/17/25
1,893
MXN
6,219,000
USD
329,712
Toronto
Dominion
Bank
12/17/25
7,083
NOK
1,187,000
USD
118,631
Natwest
Markets
plc
12/17/25
338
USD
588,686
CAD
811,000
Canadian
Imperial
Bank
of
Commerce
12/17/25
3,820
USD
606,419
CAD
835,000
Morgan
Stanley
&
Co.
International
plc
12/17/25
4,245
USD
146,413
CHF
115,000
Natwest
Markets
plc
12/17/25
609
USD
597,978
EUR
506,000
Goldman
Sachs
International
12/17/25
1,252
USD
1,397,018
EUR
1,174,000
JPMorgan
Chase
Bank
NA
12/17/25
12,520
USD
248,674
EUR
209,000
Natwest
Markets
plc
12/17/25
2,200
USD
877,195
GBP
648,000
HSBC
Bank
plc
12/17/25
5,617
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
11
Forward
Foreign
Currency
Exchange
Contracts
(continued)
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation  
(Depreciation)
USD
8,828
INR
782,000
Goldman
Sachs
International
12/17/25
$
67
USD
842,716
JPY
123,194,000
Goldman
Sachs
International
12/17/25
3,005
USD
564,704
KRW
780,387,000
HSBC
Bank
plc
12/17/25
6,933
USD
5,951
NZD
10,000
Toronto
Dominion
Bank
12/17/25
136
USD
56,576
PLN
205,000
Canadian
Imperial
Bank
of
Commerce
12/17/25
248
USD
252,931
SEK
2,357,000
Morgan
Stanley
&
Co.
International
plc
12/17/25
1,354
USD
313,547
SGD
398,000
Toronto
Dominion
Bank
12/17/25
3,222
USD
1,698,798
THB
53,355,000
Bank
of
America
NA
12/17/25
41,755
186,649
AUD
358,000
USD
239,061
BNP
Paribas
SA
12/17/25
(
1,956
)
CAD
118,000
USD
85,697
Morgan
Stanley
&
Co.
International
plc
12/17/25
(
600
)
CAD
8,431,616
USD
6,123,461
Morgan
Stanley
&
Co.
International
plc
12/17/25
(
42,866
)
CHF
488,000
USD
621,293
Toronto
Dominion
Bank
12/17/25
(
2,578
)
CLP
534,682,000
USD
560,100
HSBC
Bank
plc
12/17/25
(
3,997
)
EUR
7,253,589
USD
8,572,103
Goldman
Sachs
International
12/17/25
(
17,945
)
EUR
1,126,000
USD
1,331,860
HSBC
Bank
plc
12/17/25
(
3,968
)
JPY
1,816,098,565
EUR
10,516,646
Goldman
Sachs
International
12/17/25
(
23,462
)
JPY
1,815,583,799
USD
12,419,598
Goldman
Sachs
International
12/17/25
(
44,287
)
KRW
1,638,936,500
USD
1,187,278
JPMorgan
Chase
Bank
NA
12/17/25
(
15,871
)
SEK
6,231,000
USD
668,581
Toronto
Dominion
Bank
12/17/25
(
3,509
)
SGD
402,000
USD
315,441
Bank
of
America
NA
12/17/25
(
1,997
)
USD
291,287
AUD
442,000
Morgan
Stanley
&
Co.
International
plc
12/17/25
(
1,452
)
USD
606,340
MXN
11,434,000
Barclays
Bank
plc
12/17/25
(
12,876
)
USD
98,320
ZAR
1,732,000
Goldman
Sachs
International
12/17/25
(
1,414
)
(
178,778
)
$
7,871
Centrally
Cleared
Credit
Defa
ul
t
Swaps
—
Sell
Protection
Reference
Obligation/Index
Financing
Rate
Received
by
the
Fund
Payment
Frequency
Termination
Date
Credit
Rating
(a)
Notional
Amount
(000)
(b)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
Markit
CDX
North
American
High
Yield
Index
Series
45.V1
...........
5
.00
%
Quarterly
12/20/30
B+
USD
3,791
$
293,866
$
291,176
$
2,690
Markit
CDX
North
American
Investment
Grade
Index
Series
45.V1
.......
1
.00
Quarterly
12/20/30
BBB+
USD
22,776
523,031
516,641
6,390
$
816,897
$
807,817
$
9,080
(a)
Using
the
rating
of
the
issuer
or
the
underlying
securities
of
the
index,
as
applicable,
provided
by
S&P
Global
Ratings.
(b)
The
maximum
potential
amount
the
Fund
may
pay
should
a
negative
credit
event
take
place
as
defined
under
the
terms
of
the
agreement.
Centrally
Cleared
Interest
Rate
Swap
s
Paid
by
the
Fund
Received
by
the
Fund
Rate
Frequency
Rate
Frequency
Effective
Date
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
1-day
THOR
Quarterly
1.98%
Quarterly
N/A
09/21/27
THB
137,500
$
80,672
$
—
$
80,672
1-day
THOR
Quarterly
2.00%
Quarterly
N/A
09/21/27
THB
137,500
82,770
—
82,770
1-day
THOR
Quarterly
2.02%
Quarterly
N/A
09/21/27
THB
93,500
57,396
—
57,396
1-day
THOR
Quarterly
2.04%
Quarterly
N/A
09/21/27
THB
93,500
58,394
—
58,394
2.04%
Quarterly
1-day
THOR
Quarterly
N/A
09/21/27
THB
93,500
(
58,394
)
14,249
(
72,643
)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
12
Centrally
Cleared
Interest
Rate
Swaps
(continued)
Paid
by
the
Fund
Received
by
the
Fund
Rate
Frequency
Rate
Frequency
Effective
Date
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
1.98%
Quarterly
1-day
THOR
Quarterly
N/A
09/21/27
THB
137,500
$
(
80,671
)
$
25,020
$
(
105,691
)
2.02%
Quarterly
1-day
THOR
Quarterly
N/A
09/21/27
THB
93,500
(
57,395
)
15,029
(
72,424
)
2.00%
Quarterly
1-day
THOR
Quarterly
N/A
09/21/27
THB
137,500
(
82,769
)
23,380
(
106,149
)
13.14%
At
Termination
1-day
BZDIOVER
At
Termination
N/A
01/02/29
BRL
14,000
3,645
—
3,645
13.09%
At
Termination
1-day
BZDIOVER
At
Termination
N/A
01/02/29
BRL
3,000
1,640
—
1,640
13.05%
At
Termination
1-day
BZDIOVER
At
Termination
N/A
01/02/29
BRL
1,000
638
—
638
13.13%
At
Termination
1-day
BZDIOVER
At
Termination
N/A
01/02/29
BRL
2,000
391
—
391
1-day
MXIBTIIE
Monthly
7.32%
Monthly
03/18/26
(a)
03/12/31
MXN
97,000
(
10,967
)
—
(
10,967
)
1-day
MXIBTIIE
Monthly
7.40%
Monthly
03/18/26
(a)
03/12/31
MXN
33,000
1,924
—
1,924
1-day
MXIBTIIE
Monthly
7.42%
Monthly
03/18/26
(a)
03/12/31
MXN
413,500
42,395
—
42,395
1-day
THOR
Quarterly
1.11%
Quarterly
03/18/26
(a)
03/18/31
THB
2,000
(
140
)
—
(
140
)
1-day
THOR
Quarterly
1.16%
Quarterly
03/18/26
(a)
03/18/31
THB
54,000
164
—
164
1-day
THOR
Quarterly
1.17%
Quarterly
03/18/26
(a)
03/18/31
THB
124,000
2,696
—
2,696
1-day
THOR
Quarterly
1.19%
Quarterly
03/18/26
(a)
03/18/31
THB
148,000
8,424
—
8,424
1-day
SORA
Semi-Annual
1.44%
Semi-Annual
03/18/26
(a)
03/18/31
SGD
1,000
(
4,986
)
—
(
4,986
)
1-day
SORA
Semi-Annual
1.48%
Semi-Annual
03/18/26
(a)
03/18/31
SGD
778
(
2,766
)
—
(
2,766
)
1-day
SORA
Semi-Annual
1.48%
Semi-Annual
03/18/26
(a)
03/18/31
SGD
29,222
(
100,343
)
—
(
100,343
)
1-week
CNREPOFIX_
CFXS
Quarterly
1.64%
Quarterly
03/18/26
(a)
03/18/31
CNY
86,000
(
16,773
)
—
(
16,773
)
1-week
CNREPOFIX_
CFXS
Quarterly
1.66%
Quarterly
03/18/26
(a)
03/18/31
CNY
8,000
(
921
)
—
(
921
)
1-week
CNREPOFIX_
CFXS
Quarterly
1.66%
Quarterly
03/18/26
(a)
03/18/31
CNY
16,000
(
1,522
)
—
(
1,522
)
1-week
CNREPOFIX_
CFXS
Quarterly
1.66%
Quarterly
03/18/26
(a)
03/18/31
CNY
22,000
(
1,690
)
—
(
1,690
)
1-week
CNREPOFIX_
CFXS
Quarterly
1.66%
Quarterly
03/18/26
(a)
03/18/31
CNY
16,000
(
1,415
)
—
(
1,415
)
1-week
CNREPOFIX_
CFXS
Quarterly
1.67%
Quarterly
03/18/26
(a)
03/18/31
CNY
92,000
(
1,955
)
—
(
1,955
)
1-week
CNREPOFIX_
CFXS
Quarterly
1.69%
Quarterly
03/18/26
(a)
03/18/31
CNY
27,000
3,367
—
3,367
3-mo.
TWCPBA
Quarterly
1.79%
Quarterly
03/18/26
(a)
03/18/31
TWD
34,500
694
—
694
3-mo.
TWCPBA
Quarterly
1.79%
Quarterly
03/18/26
(a)
03/18/31
TWD
34,500
1,034
—
1,034
3-mo.
STIBOR
Quarterly
2.33%
Annual
03/18/26
(a)
03/18/31
SEK
105,000
(
60,554
)
7,417
(
67,971
)
3-mo.
STIBOR
Quarterly
2.36%
Annual
03/18/26
(a)
03/18/31
SEK
3,000
(
1,329
)
1,083
(
2,412
)
3-mo.
STIBOR
Quarterly
2.37%
Annual
03/18/26
(a)
03/18/31
SEK
14,000
(
5,004
)
—
(
5,004
)
3-mo.
STIBOR
Quarterly
2.38%
Annual
03/18/26
(a)
03/18/31
SEK
200,000
(
64,861
)
21,158
(
86,019
)
3-mo.
STIBOR
Quarterly
2.40%
Annual
03/18/26
(a)
03/18/31
SEK
35,000
(
7,547
)
(
4,062
)
(
3,485
)
6-mo.
EURIBOR
Semi-Annual
2.41%
Annual
03/18/26
(a)
03/18/31
EUR
2,000
(
3,110
)
975
(
4,085
)
6-mo.
EURIBOR
Semi-Annual
2.41%
Annual
03/18/26
(a)
03/18/31
EUR
1,000
(
1,828
)
(
1,826
)
(
2
)
6-mo.
EURIBOR
Semi-Annual
2.41%
Annual
03/18/26
(a)
03/18/31
EUR
55,000
(
106,553
)
47,718
(
154,271
)
3-mo.
STIBOR
Quarterly
2.43%
Annual
03/18/26
(a)
03/18/31
SEK
16,000
131
131
—
3-mo.
STIBOR
Quarterly
2.45%
Annual
03/18/26
(a)
03/18/31
SEK
11,000
470
655
(
185
)
6-mo.
EURIBOR
Semi-Annual
2.46%
Annual
03/18/26
(a)
03/18/31
EUR
2,000
1,696
(
602
)
2,298
3-mo.
STIBOR
Quarterly
2.47%
Annual
03/18/26
(a)
03/18/31
SEK
20,000
2,387
—
2,387
6-mo.
EURIBOR
Semi-Annual
2.50%
Annual
03/18/26
(a)
03/18/31
EUR
1,000
3,076
—
3,076
3-mo.
CD_KSDA
Quarterly
2.66%
Quarterly
03/18/26
(a)
03/18/31
KRW
447,000
(
120
)
—
(
120
)
1-day
SOFR
Annual
3.18%
Annual
03/18/26
(a)
03/18/31
USD
5,000
(
42,481
)
(
1,805
)
(
40,676
)
6-mo.
PRIBOR
Semi-Annual
3.77%
Annual
03/18/26
(a)
03/18/31
CZK
31,000
(
14,677
)
—
(
14,677
)
6-mo.
PRIBOR
Semi-Annual
3.80%
Annual
03/18/26
(a)
03/18/31
CZK
21,000
(
8,866
)
—
(
8,866
)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
13
Centrally
Cleared
Interest
Rate
Swaps
(continued)
Paid
by
the
Fund
Received
by
the
Fund
Rate
Frequency
Rate
Frequency
Effective
Date
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
6-mo.
PRIBOR
Semi-Annual
3.82%
Annual
03/18/26
(a)
03/18/31
CZK
57,000
$
(
20,557
)
$
—
$
(
20,557
)
6-mo.
PRIBOR
Semi-Annual
3.91%
Annual
03/18/26
(a)
03/18/31
CZK
10,000
(
1,647
)
—
(
1,647
)
6-mo.
WIBOR
Semi-Annual
4.05%
Annual
03/18/26
(a)
03/18/31
PLN
4,000
(
3,766
)
—
(
3,766
)
6-mo.
WIBOR
Semi-Annual
4.06%
Annual
03/18/26
(a)
03/18/31
PLN
4,000
(
3,195
)
—
(
3,195
)
6-mo.
WIBOR
Semi-Annual
4.06%
Annual
03/18/26
(a)
03/18/31
PLN
3,000
(
2,664
)
—
(
2,664
)
6-mo.
WIBOR
Semi-Annual
4.12%
Annual
03/18/26
(a)
03/18/31
PLN
3,000
(
557
)
—
(
557
)
6-mo.
WIBOR
Semi-Annual
4.13%
Annual
03/18/26
(a)
03/18/31
PLN
35,000
(
1,086
)
—
(
1,086
)
6-mo.
WIBOR
Semi-Annual
4.14%
Annual
03/18/26
(a)
03/18/31
PLN
1,000
112
—
112
6-mo.
WIBOR
Semi-Annual
4.16%
Annual
03/18/26
(a)
03/18/31
PLN
5,000
1,630
—
1,630
1-day
MIBOR
Semi-Annual
5.72%
Semi-Annual
03/18/26
(a)
03/18/31
INR
217,197
(
6,742
)
—
(
6,742
)
1-day
MIBOR
Semi-Annual
5.73%
Semi-Annual
03/18/26
(a)
03/18/31
INR
253,803
(
7,233
)
—
(
7,233
)
1-day
MIBOR
Semi-Annual
5.74%
Semi-Annual
03/18/26
(a)
03/18/31
INR
1,934,000
(
43,932
)
—
(
43,932
)
1-day
MIBOR
Semi-Annual
5.74%
Semi-Annual
03/18/26
(a)
03/18/31
INR
62,000
(
1,360
)
—
(
1,360
)
1-day
MIBOR
Semi-Annual
5.76%
Semi-Annual
03/18/26
(a)
03/18/31
INR
36,500
(
458
)
—
(
458
)
1-day
MIBOR
Semi-Annual
5.76%
Semi-Annual
03/18/26
(a)
03/18/31
INR
36,500
(
566
)
—
(
566
)
2.57%
Semi-Annual
1-day
REPO_CORRA
Semi-Annual
03/18/26
(a)
03/18/31
CAD
4,000
(
531
)
2,616
(
3,147
)
2.55%
Semi-Annual
1-day
REPO_CORRA
Semi-Annual
03/18/26
(a)
03/18/31
CAD
2,000
1,131
2,236
(
1,105
)
2.55%
Semi-Annual
1-day
REPO_CORRA
Semi-Annual
03/18/26
(a)
03/18/31
CAD
1,000
566
708
(
142
)
2.59%
Semi-Annual
1-day
REPO_CORRA
Semi-Annual
03/18/26
(a)
03/18/31
CAD
3,000
(
1,696
)
(
1,684
)
(
12
)
0.16%
Annual
1-day
SARON
Annual
03/18/26
(a)
03/18/31
CHF
2,000
5,920
1,877
4,043
0.18%
Annual
1-day
SARON
Annual
03/18/26
(a)
03/18/31
CHF
1,000
1,753
2,000
(
247
)
0.21%
Annual
1-day
SARON
Annual
03/18/26
(a)
03/18/31
CHF
3,000
(
460
)
(
2,383
)
1,923
0.20%
Annual
1-day
SARON
Annual
03/18/26
(a)
03/18/31
CHF
1,000
215
—
215
3.75%
Annual
1-day
SHIRON
Annual
03/18/26
(a)
03/18/31
ILS
22,000
12,174
—
12,174
3.16%
Annual
1-day
SOFR
Annual
03/18/26
(a)
03/18/31
USD
45,000
414,849
(
7,193
)
422,042
3.79%
Annual
1-day
SONIA
Annual
03/18/26
(a)
03/18/31
GBP
2,000
7,468
(
1,259
)
8,727
3.78%
Annual
1-day
SONIA
Annual
03/18/26
(a)
03/18/31
GBP
2,000
8,415
(
1,311
)
9,726
3.80%
Annual
1-day
SONIA
Annual
03/18/26
(a)
03/18/31
GBP
2,000
6,758
(
1,450
)
8,208
3.89%
Annual
1-day
SONIA
Annual
03/18/26
(a)
03/18/31
GBP
2,000
(
4,096
)
—
(
4,096
)
3.82%
Annual
1-day
SONIA
Annual
03/18/26
(a)
03/18/31
GBP
3,000
5,520
1,891
3,629
3.78%
Annual
1-day
SONIA
Annual
03/18/26
(a)
03/18/31
GBP
1,000
4,148
(
295
)
4,443
3.87%
Annual
1-day
SONIA
Annual
03/18/26
(a)
03/18/31
GBP
34,000
(
34,019
)
(
72,888
)
38,869
2.82%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
10,000
8,066
—
8,066
2.95%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
3,290
245
—
245
2.90%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
11,000
3,672
—
3,672
2.83%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
9,000
6,990
—
6,990
2.86%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
46,000
28,167
—
28,167
2.82%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
12,000
10,001
—
10,001
2.84%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
22,000
15,877
—
15,877
2.89%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
14,000
5,518
—
5,518
2.86%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
20,000
11,320
—
11,320
2.96%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
7,000
(
107
)
—
(
107
)
3.00%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
3,710
(
833
)
—
(
833
)
2.96%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
9,000
(
164
)
—
(
164
)
2.91%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
21,000
5,818
—
5,818
2.87%
Quarterly
3-mo.
HIBOR
Quarterly
03/18/26
(a)
03/18/31
HKD
10,000
5,346
—
5,346
7.14%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
29,000
(
1,064
)
—
(
1,064
)
7.10%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
21,000
1,220
—
1,220
7.23%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
90,820
(
22,166
)
—
(
22,166
)
7.01%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
29,000
8,490
—
8,490
7.10%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
30,000
2,206
—
2,206
7.17%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
48,000
(
4,719
)
—
(
4,719
)
7.13%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
20,000
(
23
)
—
(
23
)
7.09%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
23,000
2,236
—
2,236
7.04%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
18,000
3,670
—
3,670
7.13%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
97,920
(
343
)
—
(
343
)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
14
Centrally
Cleared
Interest
Rate
Swaps
(continued)
Paid
by
the
Fund
Received
by
the
Fund
Rate
Frequency
Rate
Frequency
Effective
Date
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
7.12%
Quarterly
3-mo.
JIBAR
Quarterly
03/18/26
(a)
03/18/31
ZAR
106,080
$
3,022
$
—
$
3,022
1.79%
Quarterly
3-mo.
TWCPBA
Quarterly
03/18/26
(a)
03/18/31
TWD
88,000
(
2,492
)
—
(
2,492
)
3.84%
Semi-Annual
6-mo.
BBR
Semi-Annual
03/18/26
(a)
03/18/31
AUD
3,000
10,901
—
10,901
3.81%
Semi-Annual
6-mo.
BBR
Semi-Annual
03/18/26
(a)
03/18/31
AUD
1,970
8,998
—
8,998
3.96%
Semi-Annual
6-mo.
BBR
Semi-Annual
03/18/26
(a)
03/18/31
AUD
2,015
(
260
)
—
(
260
)
3.94%
Semi-Annual
6-mo.
BBR
Semi-Annual
03/18/26
(a)
03/18/31
AUD
1,370
615
—
615
3.80%
Semi-Annual
6-mo.
BBR
Semi-Annual
03/18/26
(a)
03/18/31
AUD
1,595
7,390
—
7,390
3.96%
Semi-Annual
6-mo.
BBR
Semi-Annual
03/18/26
(a)
03/18/31
AUD
1,615
31
—
31
3.96%
Semi-Annual
6-mo.
BBR
Semi-Annual
03/18/26
(a)
03/18/31
AUD
1,000
(
114
)
—
(
114
)
3.85%
Semi-Annual
6-mo.
BBR
Semi-Annual
03/18/26
(a)
03/18/31
AUD
1,000
3,382
—
3,382
$
71,357
$
71,385
$
(
28
)
(a)
Forward
swap.
OTC
Interest
Rate
Swaps
Paid
by
the
Fund
Received
by
the
Fund
Rate
Frequency
Rate
Frequency
Counterparty
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
14.20%
At
Termination
1-day
BZDIOVER
At
Termination
Bank
of
America
NA
01/02/29
BRL
3,000
$
(
17,222
)
$
—
$
(
17,222
)
14.32%
At
Termination
1-day
BZDIOVER
At
Termination
Barclays
Bank
plc
01/02/29
BRL
10,000
(
65,957
)
—
(
65,957
)
14.43%
At
Termination
1-day
BZDIOVER
At
Termination
Bank
of
America
NA
01/02/29
BRL
6,000
(
45,199
)
—
(
45,199
)
14.45%
At
Termination
1-day
BZDIOVER
At
Termination
Barclays
Bank
plc
01/02/29
BRL
27,000
(
216,765
)
—
(
216,765
)
14.48%
At
Termination
1-day
BZDIOVER
At
Termination
Bank
of
America
NA
01/02/29
BRL
10,000
(
77,874
)
—
(
77,874
)
14.63%
At
Termination
1-day
BZDIOVER
At
Termination
Bank
of
America
NA
01/02/29
BRL
11,000
(
102,299
)
—
(
102,299
)
14.66%
At
Termination
1-day
BZDIOVER
At
Termination
Barclays
Bank
plc
01/02/29
BRL
13,000
(
124,860
)
—
(
124,860
)
14.69%
At
Termination
1-day
BZDIOVER
At
Termination
Bank
of
America
NA
01/02/29
BRL
13,000
(
126,919
)
—
(
126,919
)
14.87%
At
Termination
1-day
BZDIOVER
At
Termination
Morgan
Stanley
&
Co.
International
plc
01/02/29
BRL
4,000
(
44,284
)
—
(
44,284
)
14.96%
At
Termination
1-day
BZDIOVER
At
Termination
Bank
of
America
NA
01/02/29
BRL
9,000
(
108,898
)
—
(
108,898
)
15.00%
At
Termination
1-day
BZDIOVER
At
Termination
Bank
of
America
NA
01/02/29
BRL
16,000
(
197,614
)
—
(
197,614
)
15.05%
At
Termination
1-day
BZDIOVER
At
Termination
Barclays
Bank
plc
01/02/29
BRL
8,000
(
100,504
)
—
(
100,504
)
15.25%
At
Termination
1-day
BZDIOVER
At
Termination
Bank
of
America
NA
01/02/29
BRL
10,000
(
144,659
)
—
(
144,659
)
$
(
1,373,054
)
$
—
$
(
1,373,054
)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
15
OTC
Total
Return
Swap
s
-
Future
Reference
Entity
Fixed
Amount
Paid
/
(Received)
by
the
Fund
(a)
Counterparty
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
BOVESPA
Index
Futures
October
2025
..........
BRL
(
34,170,941
)
Merrill
Lynch
International
&
Co.
10/15/25
BRL
34,171
$
(
381,727
)
$
—
$
(
381,727
)
BOVESPA
Index
Futures
October
2025
..........
BRL
(
3,387,115
)
Merrill
Lynch
International
&
Co.
10/15/25
BRL
3,387
436
—
436
BOVESPA
Index
Futures
October
2025
..........
BRL
(
2,013,124
)
Merrill
Lynch
International
&
Co.
10/15/25
BRL
2,013
(
8,866
)
—
(
8,866
)
Taiwan
Capitalization
Weighted
Stock
Index
Futures
October
2025
................
TWD
26,248,103
Merrill
Lynch
International
&
Co.
10/15/25
TWD
26,248
(
9,682
)
—
(
9,682
)
Taiwan
Capitalization
Weighted
Stock
Index
Futures
October
2025
................
TWD
192,753,022
Merrill
Lynch
International
&
Co.
10/15/25
TWD
192,753
147,312
—
147,312
KOSPI
200
Index
Futures
December
2025
........
KRW
(
9,463,157,475
)
Merrill
Lynch
International
&
Co.
12/11/25
KRW
9,463,157
(
631,895
)
—
(
631,895
)
Mexican
Bolsa
Index
Futures
December
2025
........
MXN
(
13,107,133
)
Merrill
Lynch
International
&
Co.
12/19/25
MXN
13,107
(
11,583
)
—
(
11,583
)
Mexican
Bolsa
Index
Futures
December
2025
........
MXN
(
61,757,225
)
Merrill
Lynch
International
&
Co.
12/19/25
MXN
61,757
(
56,435
)
—
(
56,435
)
Swiss
Market
Index
Futures
December
2025
........
CHF
(
240,263
)
HSBC
Bank
plc
12/19/25
CHF
240
—
—
—
Swiss
Market
Index
Futures
December
2025
........
CHF
(
359,573
)
HSBC
Bank
plc
12/19/25
CHF
360
(
4,531
)
—
(
4,531
)
Swiss
Market
Index
Futures
December
2025
........
CHF
(
3,661,301
)
HSBC
Bank
plc
12/19/25
CHF
3,661
37,060
—
37,060
Swiss
Market
Index
Futures
December
2025
........
CHF
(
486,911
)
HSBC
Bank
plc
12/19/25
CHF
487
3,355
—
3,355
Swiss
Market
Index
Futures
December
2025
........
CHF
(
122,425
)
HSBC
Bank
plc
12/19/25
CHF
122
1,715
—
1,715
$
(
914,841
)
$
—
$
(
914,841
)
(a)
At
termination,
the
fixed
amount
paid
(received)
will
be
exchanged
for
the
total
return
of
the
reference
entity.
OTC
Total
Return
Swaps
Paid
by
the
Fund
Received
by
the
Fund
Rate/Reference
Frequency
Rate/Reference
Frequency
Counterparty
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
S&P
500
Total
Return
Index
..........
Quarterly
1-day
SOFR
plus
0.50%
Quarterly
Merrill
Lynch
International
&
Co.
11/24/25
USD
35,639
$
(
1,260,464
)
$
—
$
(
1,260,464
)
MSCI
Chile
Net
Return
Index
..........
Quarterly
1-day
SOFR
plus
0.05%
Quarterly
BNP
Paribas
SA
08/28/26
USD
768
(
2,259
)
—
(
2,259
)
MSCI
Chile
Net
Return
Index
..........
Quarterly
1-day
SOFR
plus
0.10%
Quarterly
BNP
Paribas
SA
08/28/26
USD
456
4,576
—
4,576
MSCI
Chile
Net
Return
Index
..........
Quarterly
1-day
SOFR
plus
0.20%
Quarterly
JPMorgan
Chase
Bank
NA
08/28/26
USD
528
6,667
—
6,667
$
(
1,251,480
)
$
—
$
(
1,251,480
)
The
following
reference
rates,
and
their
values
as
of
period
end,
are
used
for
security
descriptions:
Reference
Index
Reference
Rate
1-day
BZDIOVER
.....................................
Overnight
Brazil
CETIP
—
Interbank
Rate
0
.06
%
1-day
MIBOR
........................................
Mumbai
Interbank
Offered
Rate
5
.74
1-day
MXIBTIIE
.......................................
Mexico
Interbank
TIIE
1-day
7
.85
1-day
REPO_CORRA
...................................
Canadian
Overnight
Repo
Rate
2
.56
1-day
SARON
........................................
Swiss
Average
Rate
Overnight
(
0
.05
)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
16
Fair
Value
Hierarchy
as
of
Period
End
Various
inputs
are
used
in
determining
the
fair
value
of
financial
instruments
at
the
measurement
date.
These
inputs
to
valuation
techniques
are
categorized
into
a
fair
value
hierarchy
consisting
of
three
broad
levels
for
financial
reporting
purposes
as
follows:
Level
1
—
Unadjusted
price
quotations
in
active
markets/exchanges
that
the
Fund
has
the
ability
to
access
for
identical
assets
or
liabilities;
Level
2
—
Inputs
other
than
quoted
prices
included
within
Level
1
that
are
observable
for
the
asset
or
liability,
either
directly
or
indirectly;
and
Level
3
—
Inputs
that
are
unobservable
and
significant
to the
entire
fair
value
measurement
for
the asset
or
liability (including
the
Valuation
Committee's
assumptions
used
in
determining
the
fair
value
of
financial
instruments).
The
hierarchy
gives
the
highest
priority
to
unadjusted
quoted
prices
in
active
markets
for
identical
assets
or
liabilities
(Level
1
measurements)
and
the
lowest
priority
to
unobservable
inputs
(Level
3
measurements).
Accordingly,
the
degree
of
judgment
exercised
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
The
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
fair
value
hierarchy
classification
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
Investments
classified
within
Level
3
have
significant
unobservable
inputs
used
by
the
Valuation
Committee
in
determining
the
price
for
Fair
Valued
Investments.
Level
3
investments
include
equity
or
debt
issued
by
privately
held
companies
or
funds
that
may
not
have
a
secondary
market
and/
or may
have
a
limited
number
of
investors.
The
categorization
of
a
value
determined
for
financial
instruments
is
based
on
the
pricing
transparency
of
the
financial
instruments
and
is
not
necessarily
an
indication
of
the
risks
associated
with
investing
in
those
securities.
For
information
about
the
Fund’s
policy
regarding
valuation
of
financial
instruments,
refer
to
its
most
recent
financial
statements.
The
following
table
summarizes
the
Fund’s
financial
instruments
categorized
in
the
fair
value
hierarchy.
The
breakdown
of
the
Fund's
financial
instruments
into
major
categories
is
disclosed
in
the
Schedule
of
Investments
above.
Reference
Index
Reference
Rate
1-day
SHIRON
.......................................
Shekel
Overnight
Risk
Free
Rate
4
.50
%
1-day
SOFR
.........................................
Secured
Overnight
Financing
Rate
4
.31
1-day
SONIA
.........................................
Sterling
Overnight
Index
Average
3
.97
1-day
SORA
.........................................
Singapore
Overnight
Rate
Average
1
.20
1-day
THOR
.........................................
Thailand
Overnight
Repo
Rate
ON
1
.49
1-week
CNREPOFIX_CFXS
..............................
China
Fixing
Repo
Rates
1
.65
3-mo.
CD_KSDA
......................................
Certificates
of
Deposit
by
the
Korean
Securities
Dealers
Association
2
.57
3-mo.
HIBOR
........................................
Hong
Kong
Interbank
Offered
Rate
3
.53
3-mo.
JIBAR
.........................................
Johannesburg
Interbank
Average
Rate
7
.00
3-mo.
STIBOR
.......................................
Stockholm
Interbank
Offered
Rate
1
.89
3-mo.
TWCPBA
.......................................
Taiwan
Secondary
Markets
Bills
Rate
1
.68
6-mo.
BBR
..........................................
Australian
Bank
Bill
Rate
3
.75
6-mo.
EURIBOR
......................................
Euro
Interbank
Offered
Rate
2
.10
6-mo.
PRIBOR
.......................................
Prague
Interbank
Offered
Rate
3
.50
6-mo.
WIBOR
........................................
Warsaw
Interbank
Offered
Rate
4
.48
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Common
Stocks
Aerospace
&
Defense
....................................
$
1,429,733
$
1,170,992
$
—
$
2,600,725
Air
Freight
&
Logistics
....................................
205,772
—
—
205,772
Automobile
Components
..................................
358,017
99,441
—
457,458
Automobiles
..........................................
1,894,929
414,640
—
2,309,569
Banks
...............................................
3,636,634
5,024,241
—
8,660,875
Beverages
...........................................
480,644
47,179
—
527,823
Biotechnology
.........................................
1,328,533
—
—
1,328,533
Broadline
Retail
........................................
3,380,367
361,043
—
3,741,410
Building
Products
.......................................
61,972
14,716
—
76,688
Capital
Markets
........................................
3,695,919
1,563,693
—
5,259,612
Chemicals
............................................
798,628
187,104
—
985,732
Commercial
Services
&
Supplies
.............................
835,659
29,302
—
864,961
Communications
Equipment
................................
1,639,664
—
—
1,639,664
Construction
&
Engineering
................................
640,574
263,373
—
903,947
Construction
Materials
....................................
3,746
—
—
3,746
Consumer
Finance
......................................
709,064
26,665
—
735,729
Consumer
Staples
Distribution
&
Retail
........................
4,118,757
135,595
—
4,254,352
Diversified
Consumer
Services
..............................
101,429
—
—
101,429
Diversified
REITs
.......................................
—
24,189
—
24,189
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
17
Level
1
Level
2
Level
3
Total
Diversified
Telecommunication
Services
........................
$
11,579
$
345,969
$
—
$
357,548
Electric
Utilities
........................................
435,075
393,365
—
828,440
Electrical
Equipment
.....................................
251,430
558,716
—
810,146
Electronic
Equipment,
Instruments
&
Components
.................
705,578
212,779
—
918,357
Entertainment
.........................................
1,579,632
—
—
1,579,632
Financial
Services
......................................
3,862,050
211,412
—
4,073,462
Food
Products
.........................................
66,448
254,606
—
321,054
Gas
Utilities
...........................................
37,909
50,778
—
88,687
Ground
Transportation
...................................
110,278
—
—
110,278
Health
Care
Equipment
&
Supplies
...........................
834,851
201,967
—
1,036,818
Health
Care
Providers
&
Services
............................
3,017,918
—
—
3,017,918
Health
Care
Technology
..................................
151,934
48,456
—
200,390
Hotels,
Restaurants
&
Leisure
..............................
1,187,007
344,991
—
1,531,998
Household
Durables
.....................................
400,934
897,071
—
1,298,005
Household
Products
.....................................
250,313
108,419
—
358,732
Industrial
Conglomerates
..................................
713,174
191,000
—
904,174
Industrial
REITs
........................................
—
33,789
—
33,789
Insurance
............................................
1,475,508
2,800,389
—
4,275,897
Interactive
Media
&
Services
...............................
4,727,672
135,197
—
4,862,869
IT
Services
...........................................
1,435,679
263,961
—
1,699,640
Leisure
Products
.......................................
184,240
13,308
—
197,548
Life
Sciences
Tools
&
Services
..............................
227,542
20,565
—
248,107
Machinery
............................................
197,126
197,239
—
394,365
Marine
Transportation
....................................
34,131
88,925
—
123,056
Media
...............................................
647,023
117,994
—
765,017
Metals
&
Mining
........................................
224,730
360,690
—
585,420
Multi-Utilities
..........................................
—
315,149
—
315,149
Office
REITs
..........................................
—
20,896
—
20,896
Oil,
Gas
&
Consumable
Fuels
...............................
2,600,257
1,199,682
—
3,799,939
Paper
&
Forest
Products
..................................
97,280
—
—
97,280
Passenger
Airlines
......................................
160,532
155,455
—
315,987
Personal
Care
Products
..................................
21,701
187,493
—
209,194
Pharmaceuticals
.......................................
832,981
1,266,042
—
2,099,023
Professional
Services
....................................
1,540,666
852,552
—
2,393,218
Real
Estate
Management
&
Development
.......................
49,157
620,593
—
669,750
Residential
REITs
.......................................
224,404
—
—
224,404
Retail
REITs
..........................................
116,168
—
—
116,168
Semiconductors
&
Semiconductor
Equipment
....................
11,486,398
631,841
—
12,118,239
Software
.............................................
8,664,783
461,195
—
9,125,978
Specialized
REITs
......................................
727,462
—
—
727,462
Specialty
Retail
........................................
713,322
131,326
—
844,648
Technology
Hardware,
Storage
&
Peripherals
....................
5,270,791
67,874
—
5,338,665
Textiles,
Apparel
&
Luxury
Goods
............................
716,102
566,215
—
1,282,317
Tobacco
.............................................
1,251,389
163,296
—
1,414,685
Trading
Companies
&
Distributors
............................
433,568
226,207
—
659,775
Transportation
Infrastructure
...............................
—
25,152
—
25,152
Water
Utilities
.........................................
—
67,223
—
67,223
Wireless
Telecommunication
Services
.........................
—
268,414
—
268,414
Corporate
Bonds
........................................
—
27,966
—
27,966
Other
Interests
..........................................
—
—
—
—
Preferred
Securities
.......................................
—
15,088
—
15,088
Rights
................................................
—
—
759
759
Short-Term
Securities
Money
Market
Funds
......................................
16,570,654
—
—
16,570,654
U.S.
Treasury
Obligations
...................................
—
8,301,887
—
8,301,887
$
99,567,417
$
32,785,305
$
759
$
132,353,481
Derivative
Financial
Instruments
(a)
Assets
Credit
contracts
...........................................
$
—
$
9,080
$
—
$
9,080
Equity
contracts
...........................................
177,789
447,320
—
625,109
Foreign
currency
exchange
contracts
............................
—
186,649
—
186,649
Interest
rate
contracts
.......................................
307,354
1,022,927
—
1,330,281
Fair
Value
Hierarchy
as
of
Period
End
(continued)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2025
BlackRock
Managed
Volatility
V.I.
Fund
18
Level
1
Level
2
Level
3
Total
Liabilities
Equity
contracts
...........................................
$
(
711,235
)
$
(
2,576,124
)
$
—
$
(
3,287,359
)
Foreign
currency
exchange
contracts
............................
—
(
178,778
)
—
(
178,778
)
Interest
rate
contracts
.......................................
(
1,744,490
)
(
2,396,009
)
—
(
4,140,499
)
$
(
1,970,582
)
$
(
3,484,935
)
$
—
$
(
5,455,517
)
(a)
Derivative
financial
instruments
are
swaps,
futures
contracts
and
forward
foreign
currency
exchange
contracts.
Swaps,
futures
contracts
and
forward
foreign
currency
exchange
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.
Currency
Abbreviation
AUD
Australian
Dollar
BRL
Brazilian
Real
CAD
Canadian
Dollar
CHF
Swiss
Franc
CLP
Chilean
Peso
CNY
Chinese
Yuan
CZK
Czech
Koruna
EUR
Euro
GBP
British
Pound
HKD
Hong
Kong
Dollar
ILS
Israeli
shekel
INR
Indian
Rupee
JPY
Japanese
Yen
KRW
South
Korean
Won
MXN
Mexican
Peso
NOK
Norwegian
Krone
NZD
New
Zealand
Dollar
PLN
Polish
Zloty
SEK
Swedish
Krona
SGD
Singapore
Dollar
THB
Thai
Baht
TWD
Taiwan
New
Dollar
USD
United
States
Dollar
ZAR
South
African
Rand
Portfolio
Abbreviation
ADR
American
Depositary
Receipts
BBR
Australian
Bank
Bill
Rate
BZDIOVER
Overnight
Brazil
CETIP
—
Interbank
Rate
CD_KSDA
Certificates
of
Deposit
by
the
Korean
Securities
Dealers
Association
CNREPOFIX_CFXS
China
Fixing
Repo
Rates
CVR
Contingent
Value
Rights
EURIBOR
Euro
Interbank
Offered
Rate
HIBOR
Hong
Kong
Interbank
Offered
Rate
JIBAR
Johannesburg
Interbank
Average
Rate
MIBOR
Mumbai
Interbank
Offered
Rate
MSCI
Morgan
Stanley
Capital
International
MXIBTIIE
Mexico
Interbank
TIIE
Nasdaq
National
Association
of
Securities
Dealers
Automated
Quotations
OMX
Stockholm
Nordic
Exchange
OTC
Over-the-counter
PRIBOR
Prague
Interbank
Offered
Rate
REIT
Real
Estate
Investment
Trust
REPO_CORRA
Canadian
Overnight
Repo
Rate
SARON
Swiss
Average
Rate
Overnight
SCA
Svenska
Cellulosa
Aktiebolaget
SHIRON
Shekel
Overnight
Risk
Free
Rate
SONIA
Sterling
Overnight
Interbank
Average
Rate
SOFR
Secured
Overnight
Financing
Rate
SORA
Singapore
Overnight
Rate
Average
STIBOR
Stockholm
Interbank
Offered
Rate
THOR
Thailand
Overnight
Repo
Rate
ON
TWCPBA
Taiwan
Secondary
Markets
Bills
Rate
WIBOR
Warsaw
Interbank
Offered
Rate
Fair
Value
Hierarchy
as
of
Period
End
(continued)