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

Schedule

of

Investments

(unaudited)

September

30,

2024

BlackRock

Advantage

Large

Cap

Core

Portfolio

1

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Common

Stocks

Aerospace

&

Defense

—

2.4%

General

Dynamics

Corp.

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

1,712

$

517,366

Lockheed

Martin

Corp.

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

4,809

2,811,149

Northrop

Grumman

Corp.

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

3,098

1,635,961

Textron,

Inc.

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

1,850

163,873

5,128,349

Air

Freight

&

Logistics

—

0.7%

Expeditors

International

of

Washington,

Inc.

..

10,983

1,443,166

Automobiles

—

1.6%

Ford

Motor

Co.

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

47,766

504,409

General

Motors

Co.

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

29,317

1,314,574

Tesla,

Inc.

(a)

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

6,411

1,677,310

3,496,293

Banks

—

2.2%

Bank

of

America

Corp.

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

40,753

1,617,079

Bank

OZK

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

437

18,786

Citigroup,

Inc.

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

10,835

678,271

JPMorgan

Chase

&

Co.

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

10,124

2,134,747

Wells

Fargo

&

Co.

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

5,459

308,379

4,757,262

Biotechnology

—

3.0%

Biogen,

Inc.

(a)

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

6,785

1,315,204

BioMarin

Pharmaceutical,

Inc.

(a)

(b)

.........

5,987

420,826

Blueprint

Medicines

Corp.

(a)

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

1,911

176,768

Exelixis,

Inc.

(a)

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

4,779

124,015

Gilead

Sciences,

Inc.

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

24,301

2,037,396

Natera,

Inc.

(a)

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

6,448

818,574

Neurocrine

Biosciences,

Inc.

(a)

...........

10,952

1,261,889

United

Therapeutics

Corp.

(a)

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

1,151

412,461

6,567,133

Broadline

Retail

—

4.6%

(a)

Amazon.com,

Inc.

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

50,147

9,343,890

MercadoLibre,

Inc.

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

302

619,692

9,963,582

Building

Products

—

0.7%

Trane

Technologies

plc

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

4,000

1,554,920

Capital

Markets

—

3.0%

Charles

Schwab

Corp.

(The)

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

1,476

95,659

CME

Group,

Inc.

,

Class

A

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

11,721

2,586,239

Invesco

Ltd.

(b)

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

120,214

2,110,958

Morgan

Stanley

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

2,143

223,386

Nasdaq,

Inc.

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

5,836

426,086

S&P

Global,

Inc.

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

830

428,795

State

Street

Corp.

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

8,125

718,819

6,589,942

Chemicals

—

0.2%

Huntsman

Corp.

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

16,506

399,445

Commercial

Services

&

Supplies

—

2.0%

Cintas

Corp.

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

12,404

2,553,736

Waste

Management,

Inc.

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

8,217

1,705,849

4,259,585

Communications

Equipment

—

0.9%

Arista

Networks,

Inc.

(a)

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

2,867

1,100,412

Motorola

Solutions,

Inc.

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

1,776

798,543

1,898,955

Construction

&

Engineering

—

0.7%

Comfort

Systems

USA,

Inc.

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

1,887

736,590

EMCOR

Group,

Inc.

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

515

221,723

Security

Shares

Shares

Value

Construction

&

Engineering

(continued)

MasTec,

Inc.

(a)

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

4,805

$

591,496

1,549,809

Consumer

Finance

—

0.3%

OneMain

Holdings,

Inc.

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

12,254

576,796

Consumer

Staples

Distribution

&

Retail

—

3.0%

Costco

Wholesale

Corp.

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

2,917

2,585,979

Kroger

Co.

(The)

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

40,512

2,321,338

Walmart,

Inc.

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

20,786

1,678,469

6,585,786

Containers

&

Packaging

—

0.3%

Crown

Holdings,

Inc.

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

2,888

276,902

Packaging

Corp.

of

America

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

1,478

318,361

595,263

Electric

Utilities

—

0.8%

Exelon

Corp.

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

25,120

1,018,616

IDACORP,

Inc.

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

1,227

126,491

OGE

Energy

Corp.

(b)

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

12,589

516,401

1,661,508

Electrical

Equipment

—

1.3%

Eaton

Corp.

plc

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

8,754

2,901,425

Emerson

Electric

Co.

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

248

27,124

2,928,549

Electronic

Equipment,

Instruments

&

Components

—

0.1%

Flex

Ltd.

(a)

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

8,481

283,520

Energy

Equipment

&

Services

—

1.1%

Halliburton

Co.

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

45,496

1,321,659

Schlumberger

NV

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

25,160

1,055,462

2,377,121

Entertainment

—

0.4%

(a)

Netflix,

Inc.

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

919

651,819

ROBLOX

Corp.

,

Class

A

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

5,292

234,224

886,043

Financial

Services

—

4.5%

Berkshire

Hathaway,

Inc.

,

Class

B

(a)

.......

4,844

2,229,499

Mastercard,

Inc.

,

Class

A

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

7,477

3,692,143

Visa,

Inc.

,

Class

A

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

13,832

3,803,108

9,724,750

Ground

Transportation

—

0.2%

CSX

Corp.

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

11,160

385,355

Health

Care

Equipment

&

Supplies

—

2.3%

Boston

Scientific

Corp.

(a)

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

2,186

183,187

Medtronic

plc

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

28,290

2,546,948

Stryker

Corp.

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

6,022

2,175,508

4,905,643

Health

Care

Providers

&

Services

—

3.0%

Cardinal

Health,

Inc.

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

4,618

510,381

Centene

Corp.

(a)

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

19,422

1,462,088

Cigna

Group

(The)

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

1,608

557,076

Elevance

Health,

Inc.

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

1,666

866,320

HCA

Healthcare,

Inc.

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

6,486

2,636,105

UnitedHealth

Group,

Inc.

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

697

407,522

6,439,492

Hotels,

Restaurants

&

Leisure

—

1.7%

Airbnb,

Inc.

,

Class

A

(a)

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

2,623

332,623

Booking

Holdings,

Inc.

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

329

1,385,787

Carnival

Corp.

(a)

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

9,641

178,166

Domino's

Pizza,

Inc.

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

187

80,436

Schedule

of

Investments

(unaudited)

(continued)

September

30,

2024

BlackRock

Advantage

Large

Cap

Core

Portfolio

2

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Hotels,

Restaurants

&

Leisure

(continued)

Texas

Roadhouse,

Inc.

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

7,383

$

1,303,838

Wingstop,

Inc.

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

1,154

480,156

3,761,006

Household

Durables

—

1.2%

DR

Horton,

Inc.

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

2,415

460,710

NVR,

Inc.

(a)

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

5

49,059

PulteGroup,

Inc.

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

2,042

293,088

Taylor

Morrison

Home

Corp.

(a)

...........

4,620

324,601

Toll

Brothers,

Inc.

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

10,291

1,589,857

2,717,315

Household

Products

—

1.3%

Colgate-Palmolive

Co.

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

2,629

272,917

Kimberly-Clark

Corp.

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

17,194

2,446,362

2,719,279

Industrial

REITs

—

0.2%

Lineage,

Inc.

(b)

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

4,719

369,875

Insurance

—

3.1%

Allstate

Corp.

(The)

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

6,310

1,196,692

Brown

&

Brown,

Inc.

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

3,133

324,579

Marsh

&

McLennan

Cos.,

Inc.

...........

11,858

2,645,401

Progressive

Corp.

(The)

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

8,555

2,170,917

Reinsurance

Group

of

America,

Inc.

.......

1,682

366,457

6,704,046

Interactive

Media

&

Services

—

6.5%

Alphabet,

Inc.

,

Class

A

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

36,117

5,990,004

Alphabet,

Inc.

,

Class

C

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

19,998

3,343,466

Meta

Platforms,

Inc.

,

Class

A

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

6,945

3,975,596

Snap,

Inc.

,

Class

A

(a)

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

63,511

679,568

13,988,634

IT

Services

—

0.9%

Kyndryl

Holdings,

Inc.

(a)

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

7,955

182,806

TE

Connectivity

plc

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

12,016

1,814,296

1,997,102

Life

Sciences

Tools

&

Services

—

1.2%

Agilent

Technologies,

Inc.

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

3,298

489,687

Thermo

Fisher

Scientific,

Inc.

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

3,282

2,030,147

2,519,834

Machinery

—

2.2%

Caterpillar,

Inc.

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

1,452

567,906

Illinois

Tool

Works,

Inc.

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

451

118,194

Oshkosh

Corp.

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

14,463

1,449,337

Parker-Hannifin

Corp.

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

4,086

2,581,616

Xylem,

Inc.

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

285

38,484

4,755,537

Media

—

2.1%

Comcast

Corp.

,

Class

A

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

73,637

3,075,817

Fox

Corp.

,

Class

A

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

35,462

1,501,106

Fox

Corp.

,

Class

B

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

562

21,806

Sirius

XM

Holdings,

Inc.

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

261

6,173

4,604,902

Metals

&

Mining

—

1.1%

Freeport-McMoRan,

Inc.

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

4,424

220,846

Nucor

Corp.

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

14,129

2,124,154

2,345,000

Multi-Utilities

—

0.5%

CMS

Energy

Corp.

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

14,011

989,597

Security

Shares

Shares

Value

Oil,

Gas

&

Consumable

Fuels

—

0.9%

Chevron

Corp.

(b)

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

2,778

$

409,116

ConocoPhillips

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

2,511

264,358

Devon

Energy

Corp.

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

7,382

288,784

Exxon

Mobil

Corp.

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

6,949

814,562

Hess

Corp.

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

568

77,134

Marathon

Petroleum

Corp.

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

815

132,772

Ovintiv,

Inc.

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

1,894

72,559

2,059,285

Paper

&

Forest

Products

—

0.0%

Louisiana-Pacific

Corp.

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

836

89,837

Passenger

Airlines

—

0.1%

(a)

Alaska

Air

Group,

Inc.

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

3,642

164,655

United

Airlines

Holdings,

Inc.

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

1,067

60,883

225,538

Pharmaceuticals

—

3.3%

Bristol-Myers

Squibb

Co.

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

8,440

436,685

Eli

Lilly

&

Co.

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

4,090

3,623,495

Merck

&

Co.,

Inc.

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

13,434

1,525,565

Pfizer,

Inc.

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

47,346

1,370,193

Zoetis,

Inc.

,

Class

A

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

616

120,354

7,076,292

Residential

REITs

—

0.3%

AvalonBay

Communities,

Inc.

...........

259

58,340

Camden

Property

Trust

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

2,943

363,549

Essex

Property

Trust,

Inc.

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

798

235,745

657,634

Retail

REITs

—

0.9%

NNN

REIT,

Inc.

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

2,255

109,345

Simon

Property

Group,

Inc.

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

10,659

1,801,584

1,910,929

Semiconductors

&

Semiconductor

Equipment

—

10.2%

Applied

Materials,

Inc.

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

2,768

559,274

Broadcom,

Inc.

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

4,233

730,193

Intel

Corp.

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

17,285

405,506

KLA

Corp.

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

339

262,525

Lam

Research

Corp.

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

2,522

2,058,154

Micron

Technology,

Inc.

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

15,500

1,607,505

Monolithic

Power

Systems,

Inc.

..........

280

258,860

NVIDIA

Corp.

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

110,420

13,409,405

QUALCOMM,

Inc.

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

16,801

2,857,010

22,148,432

Software

—

11.2%

Adobe,

Inc.

(a)

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

4,021

2,081,993

Atlassian

Corp.

,

Class

A

(a)

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

2,355

373,998

Crowdstrike

Holdings,

Inc.

,

Class

A

(a)

.......

2,739

768,207

Datadog,

Inc.

,

Class

A

(a)

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

6,567

755,599

Dropbox,

Inc.

,

Class

A

(a)

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

12,153

309,051

Fortinet,

Inc.

(a)

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

25,845

2,004,280

HubSpot,

Inc.

(a)

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

1,067

567,217

Manhattan

Associates,

Inc.

(a)

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

4,514

1,270,149

Microsoft

Corp.

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

35,773

15,393,122

ServiceNow,

Inc.

(a)

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

897

802,268

24,325,884

Specialized

REITs

—

0.4%

Equinix,

Inc.

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

941

835,260

Lamar

Advertising

Co.

,

Class

A

..........

459

61,322

896,582

Specialty

Retail

—

1.1%

AutoNation,

Inc.

(a)

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

1,019

182,319

Best

Buy

Co.,

Inc.

(b)

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

3,625

374,463

Schedule

of

Investments

(unaudited)

(continued)

September

30,

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

September

30,

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)

Carvana

Co.

,

Class

A

(a)

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

195

$

33,951

Penske

Automotive

Group,

Inc.

..........

4,327

702,791

Ross

Stores,

Inc.

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

6,913

1,040,476

2,334,000

Technology

Hardware,

Storage

&

Peripherals

—

7.5%

Apple,

Inc.

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

69,618

16,220,994

Dell

Technologies,

Inc.

,

Class

C

..........

900

106,686

16,327,680

Textiles,

Apparel

&

Luxury

Goods

—

0.5%

Deckers

Outdoor

Corp.

(a)

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

2,796

445,822

NIKE,

Inc.

,

Class

B

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

7,589

670,868

Skechers

USA,

Inc.

,

Class

A

(a)

...........

695

46,509

1,163,199

Tobacco

—

0.7%

Altria

Group,

Inc.

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

31,571

1,611,384

Philip

Morris

International,

Inc.

...........

191

23,187

1,634,571

Security

Shares

Shares

Value

Trading

Companies

&

Distributors

—

0.6%

Ferguson

Enterprises,

Inc.

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

3,867

$

767,870

WW

Grainger,

Inc.

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

424

440,456

1,208,326

Total

Long-Term

Investments

—

99

.0

%

(Cost:

$

166,682,539

)

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

214,488,583

Short-Term

Securities

Money

Market

Funds

—

2.1%

(c)(d)

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

,

5.05

%

(e)

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

2,572,378

2,574,436

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

,

4.83

%

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

1,961,662

1,961,662

Total

Short-Term

Securities

—

2

.1

%

(Cost:

$

4,536,247

)

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

4,536,098

Total

Investments

—

101

.1

%

(Cost:

$

171,218,786

)

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

219,024,681

Liabilities

in

Excess

of

Other

Assets

—

(

1.1

)

%

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

(

2,474,166

)

Net

Assets

—

100.0%

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

$

216,550,515

(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

09/30/24

Shares

Held

at

09/30/24

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

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

$

—

$

2,572,581

(a)

$

—

$

2,004

$

(

149

)

$

2,574,436

2,572,378

$

16,668

(b)

$

—

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

.

1,533,477

428,185

(a)

—

—

—

1,961,662

1,961,662

71,469

—

SL

Liquidity

Series,

LLC,

Money

Market

Series

(c)

........

3,431,619

—

(

3,429,987

)

(a)

(

1,567

)

(

65

)

—

—

—

—

$

437

$

(

214

)

$

4,536,098

$

88,137

$

—

—

—

(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)

September

30,

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

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,

unrestricted

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.

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

12/20/24

$

2,326

$

43,146

Level

1

Level

2

Level

3

Total

Assets

Investments

Long-Term

Investments

Common

Stocks

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

$

214,488,583

$

—

$

—

$

214,488,583

Short-Term

Securities

Money

Market

Funds

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

4,536,098

—

—

4,536,098

$

219,024,681

$

—

$

—

$

219,024,681

Derivative

Financial

Instruments

(a)

Assets

Equity

contracts

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

$

43,146

$

—

$

—

$

43,146

(a)

Derivative

financial

instruments

are

futures

contracts.

Futures

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.

Portfolio

Abbreviation

REIT

Real

Estate

Investment

Trust