BlackRock Series Fund NPORT-P BlackRock Advantage Large Cap Core Portfolio (Mar 2024 report)

Schedule

of

Investments

(unaudited)

March

31,

2024

BlackRock

Advantage

Large

Cap

Core

Portfolio

1

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Common

Stocks

Aerospace

&

Defense

—

1.2%

HEICO

Corp.

,

Class

A

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

140

$

21,552

Lockheed

Martin

Corp.

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

5,536

2,518,160

2,539,712

Air

Freight

&

Logistics

—

0.7%

Expeditors

International

of

Washington,

Inc.

..

10,983

1,335,203

Automobiles

—

1.4%

General

Motors

Co.

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

40,272

1,826,335

Tesla,

Inc.

(a)

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

6,194

1,088,844

2,915,179

Banks

—

2.0%

Bank

of

America

Corp.

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

31,529

1,195,580

Columbia

Banking

System,

Inc.

..........

1,795

34,733

JPMorgan

Chase

&

Co.

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

11,624

2,328,287

KeyCorp

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

34,197

540,654

Valley

National

Bancorp

(b)

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

10,084

80,269

4,179,523

Beverages

—

1.7%

Coca-Cola

Co.

(The)

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

19,788

1,210,630

PepsiCo,

Inc.

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

13,148

2,301,031

3,511,661

Biotechnology

—

4.0%

AbbVie,

Inc.

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

7,184

1,308,206

Amgen,

Inc.

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

5,161

1,467,375

Exelixis,

Inc.

(a)

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

8,409

199,546

Gilead

Sciences,

Inc.

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

35,738

2,617,808

Incyte

Corp.

(a)

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

18,473

1,052,407

Neurocrine

Biosciences,

Inc.

(a)

...........

6,193

854,139

United

Therapeutics

Corp.

(a)

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

2,561

588,313

8,087,794

Broadline

Retail

—

4.4%

Amazon.com,

Inc.

(a)

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

50,369

9,085,560

Building

Products

—

1.2%

A

O

Smith

Corp.

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

12,607

1,127,822

Builders

FirstSource,

Inc.

(a)

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

4,228

881,750

Owens

Corning

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

2,935

489,558

2,499,130

Capital

Markets

—

3.1%

Invesco

Ltd.

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

101,186

1,678,676

Moody's

Corp.

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

4,995

1,963,185

Morningstar,

Inc.

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

459

141,542

MSCI,

Inc.

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

765

428,744

Nasdaq,

Inc.

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

26,368

1,663,821

SEI

Investments

Co.

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

6,658

478,710

T.

Rowe

Price

Group,

Inc.

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

252

30,724

6,385,402

Chemicals

—

0.3%

LyondellBasell

Industries

NV

,

Class

A

......

525

53,697

PPG

Industries,

Inc.

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

3,356

486,284

539,981

Commercial

Services

&

Supplies

—

0.6%

Cintas

Corp.

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

1,940

1,332,838

Construction

&

Engineering

—

0.9%

AECOM

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

6,369

624,671

Quanta

Services,

Inc.

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

2,574

668,725

Valmont

Industries,

Inc.

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

1,974

450,625

1,744,021

Security

Shares

Shares

Value

Consumer

Staples

Distribution

&

Retail

—

1.5%

Costco

Wholesale

Corp.

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

1,044

$

764,866

Walmart,

Inc.

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

38,592

2,322,080

3,086,946

Containers

&

Packaging

—

0.1%

Packaging

Corp.

of

America

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

1,478

280,495

Electric

Utilities

—

0.5%

OGE

Energy

Corp.

(b)

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

32,029

1,098,595

Electrical

Equipment

—

0.5%

AMETEK,

Inc.

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

3,779

691,179

Rockwell

Automation,

Inc.

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

974

283,756

974,935

Electronic

Equipment,

Instruments

&

Components

—

1.1%

TE

Connectivity

Ltd.

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

15,567

2,260,951

Energy

Equipment

&

Services

—

0.5%

Baker

Hughes

Co.

,

Class

A

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

12,314

412,519

Schlumberger

NV

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

10,754

589,427

1,001,946

Entertainment

—

0.8%

Electronic

Arts,

Inc.

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

4,907

651,012

Liberty

Media

Corp.-Liberty

Formula

One

,

Class

C

(a)

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

2,681

175,874

Netflix,

Inc.

(a)

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

1,080

655,916

ROBLOX

Corp.

,

Class

A

(a)

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

611

23,328

Roku,

Inc.

,

Class

A

(a)

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

1,936

126,169

Warner

Bros

Discovery,

Inc.

(a)

...........

3,598

31,410

1,663,709

Financial

Services

—

4.6%

Berkshire

Hathaway,

Inc.

,

Class

B

(a)

.......

4,844

2,036,999

Mastercard,

Inc.

,

Class

A

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

8,191

3,944,540

Visa,

Inc.

,

Class

A

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

12,232

3,413,706

9,395,245

Food

Products

—

0.6%

Hershey

Co.

(The)

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

6,693

1,301,789

Gas

Utilities

—

0.1%

Atmos

Energy

Corp.

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

217

25,795

New

Jersey

Resources

Corp.

(b)

..........

2,375

101,911

127,706

Ground

Transportation

—

0.8%

Old

Dominion

Freight

Line,

Inc.

..........

7,452

1,634,298

Health

Care

Equipment

&

Supplies

—

2.2%

Dexcom,

Inc.

(a)

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

4,353

603,761

Intuitive

Surgical,

Inc.

(a)

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

2,104

839,685

Medtronic

plc

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

13,590

1,184,369

Stryker

Corp.

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

5,375

1,923,551

4,551,366

Health

Care

Providers

&

Services

—

2.1%

Cardinal

Health,

Inc.

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

5,256

588,146

Cencora,

Inc.

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

1,848

449,046

Elevance

Health,

Inc.

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

4,949

2,566,254

Laboratory

Corp.

of

America

Holdings

......

2,956

645,768

UnitedHealth

Group,

Inc.

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

27

13,357

4,262,571

Health

Care

Technology

—

0.3%

(a)

Teladoc

Health,

Inc.

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

17,122

258,542

Veeva

Systems,

Inc.

,

Class

A

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

1,164

269,687

528,229

Schedule

of

Investments

(unaudited)

(continued)

March

31,

2024

BlackRock

Advantage

Large

Cap

Core

Portfolio

2

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Hotels,

Restaurants

&

Leisure

—

2.2%

Boyd

Gaming

Corp.

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

23,535

$

1,584,376

Domino's

Pizza,

Inc.

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

3,545

1,761,440

McDonald's

Corp.

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

917

258,548

MGM

Resorts

International

(a)

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

19,876

938,346

4,542,710

Household

Durables

—

1.6%

DR

Horton,

Inc.

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

7,984

1,313,767

Leggett

&

Platt,

Inc.

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

21,076

403,606

Toll

Brothers,

Inc.

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

12,157

1,572,751

3,290,124

Household

Products

—

1.2%

Kimberly-Clark

Corp.

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

19,321

2,499,171

Independent

Power

and

Renewable

Electricity

Producers

—

0.4%

AES

Corp.

(The)

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

45,406

814,130

Insurance

—

3.0%

Marsh

&

McLennan

Cos.,

Inc.

...........

12,976

2,672,796

Progressive

Corp.

(The)

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

10,402

2,151,342

Reinsurance

Group

of

America,

Inc.

.......

5,789

1,116,582

Travelers

Cos.,

Inc.

(The)

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

426

98,040

6,038,760

Interactive

Media

&

Services

—

7.4%

Alphabet,

Inc.

,

Class

A

(a)

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

39,670

5,987,393

Alphabet,

Inc.

,

Class

C

(a)

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

21,116

3,215,122

Meta

Platforms,

Inc.

,

Class

A

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

10,195

4,950,488

Pinterest,

Inc.

,

Class

A

(a)

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

17,205

596,497

Snap,

Inc.

,

Class

A

(a)

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

27,232

312,624

15,062,124

IT

Services

—

0.1%

Snowflake,

Inc.

,

Class

A

(a)

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

1,923

310,757

Life

Sciences

Tools

&

Services

—

0.3%

Agilent

Technologies,

Inc.

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

4,713

685,789

Machinery

—

3.3%

Cummins,

Inc.

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

1,887

556,005

Flowserve

Corp.

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

10,815

494,029

Oshkosh

Corp.

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

18,630

2,323,347

Otis

Worldwide

Corp.

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

4,291

425,968

Parker-Hannifin

Corp.

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

3,727

2,071,429

Snap-on,

Inc.

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

1,971

583,850

Xylem,

Inc.

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

2,722

351,791

6,806,419

Media

—

1.3%

Comcast

Corp.

,

Class

A

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

28,391

1,230,750

Fox

Corp.

,

Class

A

(b)

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

39,112

1,223,032

Fox

Corp.

,

Class

B

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

756

21,637

Liberty

Media

Corp.-Liberty

SiriusXM

,

Class

A

(a)

312

9,266

Paramount

Global

,

Class

B

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

6,657

78,353

2,563,038

Metals

&

Mining

—

0.7%

Nucor

Corp.

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

7,003

1,385,894

Multi-Utilities

—

0.5%

CMS

Energy

Corp.

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

14,011

845,424

DTE

Energy

Co.

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

885

99,244

944,668

Oil,

Gas

&

Consumable

Fuels

—

3.2%

Chevron

Corp.

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

711

112,153

ConocoPhillips

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

2,511

319,600

Devon

Energy

Corp.

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

22,554

1,131,760

EOG

Resources,

Inc.

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

10,228

1,307,548

Security

Shares

Shares

Value

Oil,

Gas

&

Consumable

Fuels

(continued)

Exxon

Mobil

Corp.

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

9,845

$

1,144,383

Marathon

Petroleum

Corp.

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

8,613

1,735,520

Pioneer

Natural

Resources

Co.

..........

969

254,362

Valero

Energy

Corp.

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

3,186

543,818

6,549,144

Paper

&

Forest

Products

—

0.5%

Louisiana-Pacific

Corp.

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

11,367

953,805

Passenger

Airlines

—

0.4%

American

Airlines

Group,

Inc.

(a)

...........

16,039

246,198

Delta

Air

Lines,

Inc.

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

13,471

644,857

891,055

Pharmaceuticals

—

4.2%

Bristol-Myers

Squibb

Co.

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

26,836

1,455,316

Eli

Lilly

&

Co.

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

6,231

4,847,469

Merck

&

Co.,

Inc.

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

8,127

1,072,358

Pfizer,

Inc.

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

30,549

847,735

Zoetis,

Inc.

,

Class

A

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

2,103

355,848

8,578,726

Residential

REITs

—

1.1%

Apartment

Income

REIT

Corp.

...........

3,027

98,287

Camden

Property

Trust

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

12,714

1,251,057

Equity

Residential

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

13,463

849,650

2,198,994

Semiconductors

&

Semiconductor

Equipment

—

9.5%

Applied

Materials,

Inc.

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

13,672

2,819,577

Broadcom,

Inc.

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

131

173,629

Cirrus

Logic,

Inc.

(a)

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

1,589

147,078

Intel

Corp.

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

3,025

133,614

Lam

Research

Corp.

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

1,044

1,014,319

Micron

Technology,

Inc.

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

7,864

927,087

Monolithic

Power

Systems,

Inc.

..........

56

37,935

NVIDIA

Corp.

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

12,278

11,093,910

QUALCOMM,

Inc.

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

17,881

3,027,253

19,374,402

Software

—

12.0%

Adobe,

Inc.

(a)

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

3,903

1,969,454

Crowdstrike

Holdings,

Inc.

,

Class

A

(a)

.......

112

35,906

Datadog,

Inc.

,

Class

A

(a)

(b)

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

3,586

443,230

Fortinet,

Inc.

(a)

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

15,329

1,047,124

Manhattan

Associates,

Inc.

(a)

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

9,122

2,282,598

Microsoft

Corp.

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

36,562

15,382,365

Nutanix,

Inc.

,

Class

A

(a)

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

1,624

100,233

Oracle

Corp.

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

6,976

876,255

ServiceNow,

Inc.

(a)

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

515

392,636

Synopsys,

Inc.

(a)

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

1,608

918,972

Teradata

Corp.

(a)

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

11,134

430,552

Workday,

Inc.

,

Class

A

(a)

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

1,559

425,217

Zoom

Video

Communications,

Inc.

,

Class

A

(a)

.

3,194

208,792

Zscaler,

Inc.

(a)

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

112

21,574

24,534,908

Specialized

REITs

—

0.5%

Equinix,

Inc.

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

934

770,858

Lamar

Advertising

Co.

,

Class

A

..........

459

54,809

SBA

Communications

Corp.

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

491

106,400

932,067

Specialty

Retail

—

1.7%

AutoNation,

Inc.

(a)

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

6,210

1,028,252

Best

Buy

Co.,

Inc.

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

4,968

407,525

Home

Depot,

Inc.

(The)

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

1,502

576,167

Penske

Automotive

Group,

Inc.

(b)

.........

2,484

402,383

Schedule

of

Investments

(unaudited)

(continued)

March

31,

2024

BlackRock

Advantage

Large

Cap

Core

Portfolio

3

(Percentages

shown

are

based

on

Net

Assets)

Affiliates

Investments

in

issuers

considered

to

be

affiliate(s)

of

the

Fund

during

the period

ended

March

31,

2024

for

purposes

of

Section

2(a)(3)

of

the

Investment

Company

Act

of

1940,

as

amended,

were

as

follows:

Security

Shares

Shares

Value

Specialty

Retail

(continued)

Ross

Stores,

Inc.

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

1,114

$

163,491

TJX

Cos.,

Inc.

(The)

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

7,486

759,230

Ulta

Beauty,

Inc.

(a)

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

232

121,308

3,458,356

Technology

Hardware,

Storage

&

Peripherals

—

6.2%

Apple,

Inc.

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

72,465

12,426,298

HP,

Inc.

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

7,167

216,587

12,642,885

Trading

Companies

&

Distributors

—

0.5%

Watsco,

Inc.

(b)

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

214

92,442

WESCO

International,

Inc.

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

2,553

437,278

WW

Grainger,

Inc.

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

424

431,335

961,055

Total

Long-Term

Investments

—

99

.0

%

(Cost:

$

159,637,953

)

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

202,343,766

Security

Shares

Shares

Value

Short-Term

Securities

Money

Market

Funds

—

2.0%

(c)(d)

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

,

5.50

%

(e)

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

2,232,273

$

2,233,389

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

,

5.19

%

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

1,809,091

1,809,091

Total

Short-Term

Securities

—

2

.0

%

(Cost:

$

4,042,480

)

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

4,042,480

Total

Investments

—

101

.0

%

(Cost:

$

163,680,433

)

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

206,386,246

Liabilities

in

Excess

of

Other

Assets

—

(

1.0

)

%

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

(

1,981,912

)

Net

Assets

—

100.0%

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

$

204,404,334

(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.

Affiliated

Issuer

Value

at

12/31/23

Purchases

at

Cost

Proceeds

from

Sales

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

03/31/24

Shares

Held

at

03/31/24

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

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

$

—

$

2,234,202

(a)

$

—

$

(

813

)

$

—

$

2,233,389

2,232,273

$

10,390

(b)

$

—

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

.

1,533,477

275,614

(a)

—

—

—

1,809,091

1,809,091

22,365

—

SL

Liquidity

Series,

LLC,

Money

Market

Series

(c)

........

3,431,619

—

(

3,430,120

)

(a)

(

1,434

)

(

65

)

—

—

—

—

$

(

2,247

)

$

(

65

)

$

4,042,480

$

32,755

$

—

—

—

(a)

Represents

net

amount

purchased

(sold).

(b)

All

or

a

portion

represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

(c)

As

of

period

end,

the

entity

is

no

longer

held.

For

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)

March

31,

2024

BlackRock

Advantage

Large

Cap

Core

Portfolio

4

Fair

Value

Hierarchy

as

of

Period

End

Various

inputs

are

used

in

determining

the

fair

value

of

financial

instruments.

These

inputs

to

valuation

techniques

are

categorized

into

a

fair

value

hierarchy

consisting

of

three

broad

levels

for

financial

reporting

purposes

as

follows:

Level

1

—

Unadjusted

price

quotations

in

active

markets/exchanges

for

identical

assets

or

liabilities

that

the

Fund

has

the

ability

to

access;

Level

2

—

Other

observable

inputs

(including,

but

not

limited

to,

quoted

prices

for

similar

assets

or

liabilities

in

markets

that

are

active,

quoted

prices

for

identical

or

similar

assets

or

liabilities

in

markets

that

are

not

active,

inputs

other

than

quoted

prices

that

are

observable

for

the

assets

or

liabilities

(such

as

interest

rates,

yield

curves,

volatilities,

prepayment

speeds,

loss

severities,

credit

risks

and

default

rates)

or

other

market-corroborated

inputs);

and

Level

3

—

Unobservable

inputs

based

on

the

best

information

available

in

the

circumstances,

to

the

extent

observable

inputs

are

not

available

(including

the

Valuation

Committee's

assumptions

used

in

determining

the

fair

value

of

financial

instruments).

The

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

Accordingly,

the

degree

of

judgment

exercised

in

determining

fair

value

is

greatest

for

instruments

categorized

in

Level

3.

The

inputs

used

to

measure

fair

value

may

fall

into

different

levels

of

the

fair

value

hierarchy.

In

such

cases,

for

disclosure

purposes,

the

fair

value

hierarchy

classification

is

determined

based

on

the

lowest

level

input

that

is

significant

to

the

fair

value

measurement

in

its

entirety.

Investments

classified

within

Level

3

have

significant

unobservable

inputs

used

by

the

Valuation

Committee

in

determining

the

price

for

Fair

Valued

Investments.

Level

3

investments

include

equity

or

debt

issued

by

privately

held

companies

or

funds.

There

may

not

be

a

secondary

market,

and/

or

there

are

a

limited

number

of

investors.

The

categorization

of

a

value

determined

for

financial

instruments

is

based

on

the

pricing

transparency

of

the

financial

instruments

and

is

not

necessarily

an

indication

of

the

risks

associated

with

investing

in

those

securities.

For

information

about

the

Fund’s

policy

regarding

valuation

of

financial

instruments,

refer

to

its

most

recent

financial

statements.

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.

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

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

8

06/21/24

$

2,123

$

41,269

Level

1

Level

2

Level

3

Total

Assets

Investments

Long-Term

Investments

Common

Stocks

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

$

202,343,766

$

—

$

—

$

202,343,766

Short-Term

Securities

Money

Market

Funds

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

4,042,480

—

—

4,042,480

$

206,386,246

$

—

$

—

$

206,386,246

Derivative

Financial

Instruments

(a)

Assets

Equity

contracts

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

$

41,269

$

—

$

—

$

41,269

(a)

Derivative

financial

instruments

are

futures

contracts.

Futures

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

Portfolio

Abbreviation

MSCI

Morgan

Stanley

Capital

International

REIT

Real

Estate

Investment

Trust