BlackRock
International
Index
V.I.
Fund
2
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
September
30,
2021
Security
Shares
Shares
Value
Common
Stocks
—
98.4%
Australia
—
7.7%
Afterpay
Ltd.
(a)
................
2,675
$
232,391
AGL
Energy
Ltd.
..............
8,066
33,310
Ampol
Ltd.
..................
2,748
54,843
APA
Group
(b)
.................
14,138
88,063
Aristocrat
Leisure
Ltd.
...........
7,276
241,975
ASX
Ltd.
...................
2,395
138,277
Aurizon
Holdings
Ltd.
...........
23,960
64,870
AusNet
Services
Ltd.
...........
24,028
43,492
Australia
&
New
Zealand
Banking
Group
Ltd.
................
35,662
716,184
BGP
Holdings
plc
(a)(c)
...........
253,848
3
BHP
Group
Ltd.
...............
36,832
983,704
BHP
Group
plc
...............
26,505
667,776
BlueScope
Steel
Ltd.
...........
6,134
88,879
Brambles
Ltd.
................
18,347
141,078
Cochlear
Ltd.
................
828
129,551
Coles
Group
Ltd.
..............
16,964
206,062
Commonwealth
Bank
of
Australia
...
22,379
1,660,754
Computershare
Ltd.
............
6,833
88,358
Crown
Resorts
Ltd.
(a)
...........
4,428
30,311
CSL
Ltd.
....................
5,732
1,197,594
Dexus
.....................
14,431
111,070
Domino's
Pizza
Enterprises
Ltd.
....
765
87,499
Endeavour
Group
Ltd.
..........
16,051
80,321
Evolution
Mining
Ltd.
...........
20,784
52,553
Fortescue
Metals
Group
Ltd.
......
21,176
225,567
Glencore
plc
(a)
................
125,667
591,151
Goodman
Group
..............
20,847
320,775
GPT
Group
(The)
..............
23,998
86,438
Insurance
Australia
Group
Ltd.
.....
31,789
111,016
Lendlease
Corp.
Ltd.
(b)
..........
8,407
64,637
Macquarie
Group
Ltd.
...........
4,321
558,257
Magellan
Financial
Group
Ltd.
.....
1,613
40,488
Medibank
Pvt
Ltd.
.............
31,798
81,187
Mirvac
Group
................
49,339
104,661
National
Australia
Bank
Ltd.
.......
41,361
815,682
Newcrest
Mining
Ltd.
...........
10,271
170,270
Northern
Star
Resources
Ltd.
......
13,927
85,298
Oil
Search
Ltd.
...............
25,328
78,820
Orica
Ltd.
...................
5,028
49,110
Origin
Energy
Ltd.
.............
21,517
72,190
Qantas
Airways
Ltd.
(a)
...........
12,572
50,703
QBE
Insurance
Group
Ltd.
.......
18,704
154,087
Ramsay
Health
Care
Ltd.
........
2,295
113,733
REA
Group
Ltd.
...............
701
78,954
Reece
Ltd.
..................
3,670
49,496
Rio
Tinto
Ltd.
................
4,632
329,757
Rio
Tinto
plc
.................
14,008
918,254
Santos
Ltd.
..................
24,042
123,144
Scentre
Group
................
66,680
141,919
SEEK
Ltd.
..................
4,001
87,955
Sonic
Healthcare
Ltd.
...........
5,750
166,170
South32
Ltd.
.................
59,618
147,944
Stockland
...................
29,531
93,648
Suncorp
Group
Ltd.
............
15,622
138,911
Sydney
Airport
(a)(b)
.............
15,600
91,616
Tabcorp
Holdings
Ltd.
...........
27,737
96,375
Telstra
Corp.
Ltd.
..............
51,980
145,653
Transurban
Group
(b)
............
33,981
342,477
Transurban
Group
(a)(b)
...........
3,776
38,056
Treasury
Wine
Estates
Ltd.
.......
9,555
84,256
Vicinity
Centres
...............
52,795
62,416
Washington
H
Soul
Pattinson
&
Co.
Ltd.
.....................
2,711
75,341
Security
Shares
Shares
Value
Australia
(continued)
Wesfarmers
Ltd.
..............
14,202
$
564,862
Westpac
Banking
Corp.
.........
46,310
856,434
WiseTech
Global
Ltd.
...........
1,912
72,509
Woodside
Petroleum
Ltd.
........
11,736
200,677
Woolworths
Group
Ltd.
..........
16,051
450,845
16,270,657
Austria
—
0.3%
Erste
Group
Bank
AG
...........
3,659
160,664
Mondi
plc
...................
6,082
149,045
OMV
AG
...................
1,717
103,390
Raiffeisen
Bank
International
AG
...
1,968
51,472
Verbund
AG
.................
788
79,694
voestalpine
AG
...............
1,524
56,295
600,560
Belgium
—
0.8%
Ageas
SA
...................
2,267
112,263
Anheuser-Busch
InBev
SA/NV
.....
9,534
540,744
Elia
Group
SA/NV
.............
397
47,442
Etablissements
Franz
Colruyt
NV
...
613
31,270
Groupe
Bruxelles
Lambert
SA
.....
1,449
160,203
KBC
Group
NV
...............
3,073
277,198
Proximus
SADP
...............
2,022
40,126
Sofina
SA
...................
198
78,674
Solvay
SA
...................
973
120,698
UCB
SA
....................
1,583
177,260
Umicore
SA
.................
2,436
144,113
1,729,991
Brazil
—
0.1%
Yara
International
ASA
(d)
.........
2,127
105,364
Chile
—
0.0%
Antofagasta
plc
...............
4,848
88,102
China
—
0.7%
BOC
Hong
Kong
Holdings
Ltd.
.....
46,500
140,124
Budweiser
Brewing
Co.
APAC
Ltd.
(e)(f)
22,100
56,135
Chow
Tai
Fook
Jewellery
Group
Ltd.
.
25,200
47,925
ESR
Cayman
Ltd.
(a)(e)(f)
..........
25,200
76,056
Futu
Holdings
Ltd.,
ADR
(a)(g)
.......
632
57,525
Prosus
NV
(a)
.................
11,750
940,482
SITC
International
Holdings
Co.
Ltd.
.
17,000
60,493
Wilmar
International
Ltd.
.........
22,600
69,820
1,448,560
Denmark
—
2.6%
Ambu
A/S,
Class
B
(d)
...........
2,096
61,982
AP
Moller
-
Maersk
A/S,
Class
A
....
41
105,659
AP
Moller
-
Maersk
A/S,
Class
B
....
73
197,617
Carlsberg
A/S,
Class
B
..........
1,229
200,503
Chr
Hansen
Holding
A/S
.........
1,315
107,412
Coloplast
A/S,
Class
B
..........
1,524
238,297
Danske
Bank
A/S
..............
8,480
142,855
Demant
A/S
(a)
................
1,367
68,885
DSV
A/S
....................
2,526
604,633
Genmab
A/S
(a)
................
828
361,772
GN
Store
Nord
A/S
.............
1,644
113,704
Novo
Nordisk
A/S,
Class
B
.......
21,122
2,035,941
Novozymes
A/S,
Class
B
.........
2,560
175,491
Orsted
A/S
(e)(f)
................
2,329
306,996
Pandora
A/S
.................
1,226
148,836
ROCKWOOL
International
A/S,
Class
B
102
43,563
Tryg
A/S
....................
4,545
103,030
Vestas
Wind
Systems
A/S
........
12,748
511,310
5,528,486
BlackRock
International
Index
V.I.
Fund
3
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Finland
—
1.3%
Elisa
OYJ
...................
1,747
$
108,548
Fortum
OYJ
.................
5,443
165,283
Kesko
OYJ,
Class
B
............
3,461
119,382
Kone
OYJ,
Class
B
............
4,203
295,254
Neste
OYJ
..................
5,345
301,524
Nokia
OYJ
(a)
.................
68,062
375,383
Nordea
Bank
Abp
.............
40,693
524,425
Orion
OYJ,
Class
B
............
1,385
54,833
Sampo
OYJ,
Class
A
...........
6,296
311,279
Stora
Enso
OYJ,
Class
R
........
7,327
122,042
UPM-Kymmene
OYJ
...........
6,733
238,309
Wartsila
OYJ
Abp
..............
5,901
70,277
2,686,539
France
—
10.2%
Accor
SA
(a)
..................
1,977
70,494
Adevinta
ASA
(a)
...............
3,059
52,420
Aeroports
de
Paris
(a)
............
395
50,308
Air
Liquide
SA
................
5,961
954,715
Airbus
SE
(a)
..................
7,350
974,433
Alstom
SA
..................
3,965
150,403
Amundi
SA
(e)(f)
................
804
67,622
Arkema
SA
..................
729
96,131
Atos
SE
....................
1,264
67,146
AXA
SA
....................
24,300
673,432
BioMerieux
..................
551
62,697
BNP
Paribas
SA
..............
14,141
904,751
Bollore
SA
..................
11,639
67,213
Bouygues
SA
................
2,914
120,545
Bureau
Veritas
SA
.............
3,526
108,817
Capgemini
SE
................
1,992
413,095
Carrefour
SA
.................
7,725
138,443
Cie
de
Saint-Gobain
............
6,290
423,298
Cie
Generale
des
Etablissements
Michelin
SCA
..............
2,157
330,755
CNP
Assurances
..............
2,282
36,017
Covivio
....................
612
51,431
Credit
Agricole
SA
.............
14,347
197,206
Danone
SA
..................
8,234
561,377
Dassault
Aviation
SA
...........
330
37,095
Dassault
Systemes
SE
..........
8,219
432,529
Edenred
....................
3,130
168,496
Eiffage
SA
..................
1,069
108,041
Electricite
de
France
SA
.........
5,870
73,763
Engie
SA
...................
23,207
303,622
EssilorLuxottica
SA
............
3,582
686,718
Eurazeo
SE
.................
537
50,318
Faurecia
SE
.................
1,227
57,738
Faurecia
SE
.................
218
10,330
Gecina
SA
..................
601
80,856
Getlink
SE
..................
5,227
81,654
Hermes
International
...........
396
546,375
Ipsen
SA
...................
501
47,740
Kering
SA
...................
947
672,617
Klepierre
SA
.................
2,450
54,791
La
Francaise
des
Jeux
SAEM
(e)(f)
...
1,103
56,713
Legrand
SA
.................
3,311
354,773
L'Oreal
SA
..................
3,170
1,311,759
LVMH
Moet
Hennessy
Louis
Vuitton
SE
3,489
2,499,046
Orange
SA
..................
25,324
273,876
Orpea
SA
...................
664
77,204
Pernod
Ricard
SA
.............
2,622
578,054
Publicis
Groupe
SA
............
2,776
186,486
Remy
Cointreau
SA
............
300
58,207
Renault
SA
(a)
.................
2,327
82,555
Safran
SA
...................
4,315
545,764
Security
Shares
Shares
Value
France
(continued)
Sanofi
.....................
14,196
$
1,366,564
Sartorius
Stedim
Biotech
.........
340
189,994
SCOR
SE
...................
1,940
55,864
SEB
SA
....................
330
46,426
Societe
Generale
SA
...........
10,300
322,543
Sodexo
SA
(a)
.................
1,160
101,379
Suez
SA
....................
4,361
99,440
Teleperformance
..............
735
289,101
Thales
SA
...................
1,328
128,757
TOTAL
SE
..................
31,255
1,493,925
Ubisoft
Entertainment
SA
(a)
.......
1,162
69,583
Unibail-Rodamco-Westfield
(a)
......
1,573
115,774
Valeo
......................
2,890
80,654
Veolia
Environnement
SA
........
6,764
206,679
Vinci
SA
....................
6,720
698,940
Vivendi
SE
..................
8,983
113,095
Wendel
SE
..................
293
40,485
Worldline
SA
(a)(e)(f)
..............
3,016
229,898
21,658,970
Germany
—
8.2%
adidas
AG
..................
2,382
748,559
Allianz
SE
(Registered)
..........
5,185
1,161,677
Aroundtown
SA
...............
12,558
86,511
BASF
SE
...................
11,562
876,519
Bayer
AG
(Registered)
..........
12,277
666,340
Bayerische
Motoren
Werke
AG
....
4,202
399,102
Bechtle
AG
..................
1,038
70,994
Beiersdorf
AG
................
1,247
134,552
Brenntag
SE
.................
1,917
178,079
Carl
Zeiss
Meditec
AG
..........
533
102,097
Commerzbank
AG
(a)
............
13,055
86,473
Continental
AG
(d)
..............
1,422
154,370
Covestro
AG
(e)(f)
...............
2,308
157,292
Daimler
AG
(Registered)
.........
10,809
953,696
Deutsche
Bank
AG
(Registered)
(a)
...
26,090
331,545
Deutsche
Boerse
AG
...........
2,355
382,138
Deutsche
Lufthansa
AG
(Registered)
(a)
(d)
......................
4,000
27,291
Deutsche
Post
AG
(Registered)
....
12,525
785,440
Deutsche
Telekom
AG
(Registered)
.
41,842
839,108
Deutsche
Wohnen
SE
..........
4,349
265,918
E.ON
SE
...................
27,743
338,623
Evonik
Industries
AG
...........
2,692
84,414
Fresenius
Medical
Care
AG
&
Co.
KGaA
...................
2,588
181,534
Fresenius
SE
&
Co.
KGaA
........
5,288
253,111
GEA
Group
AG
...............
1,958
89,421
Hannover
Rueck
SE
............
747
130,084
HeidelbergCement
AG
..........
1,850
138,016
HelloFresh
SE
(a)
...............
2,085
192,168
Henkel
AG
&
Co.
KGaA
.........
1,255
107,962
Infineon
Technologies
AG
........
16,546
676,702
KION
Group
AG
...............
890
82,750
Knorr-Bremse
AG
.............
925
98,967
LANXESS
AG
................
1,089
73,599
LEG
Immobilien
SE
............
886
125,151
Merck
KGaA
.................
1,597
345,654
MTU
Aero
Engines
AG
..........
650
146,134
Muenchener
Rueckversicherungs-
Gesellschaft
AG
(Registered)
....
1,752
478,067
Nemetschek
SE
...............
741
77,397
Puma
SE
...................
1,324
147,183
Rational
AG
.................
65
61,059
RWE
AG
...................
7,947
280,278
SAP
SE
....................
13,120
1,774,207
BlackRock
International
Index
V.I.
Fund
4
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Germany
(continued)
Scout24
AG
(e)(f)
...............
1,127
$
78,275
Siemens
AG
(Registered)
........
9,605
1,570,908
Siemens
Energy
AG
(a)
...........
4,878
130,484
Siemens
Healthineers
AG
(e)(f)
......
3,428
222,325
Symrise
AG
.................
1,640
214,957
TeamViewer
AG
(a)(f)
.............
2,023
59,184
Telefonica
Deutschland
Holding
AG
.
13,365
38,053
Uniper
SE
...................
1,155
48,082
United
Internet
AG
(Registered)
....
1,075
41,585
Vitesco
Technologies
Group
AG
(a)(d)
..
284
16,801
Volkswagen
AG
...............
401
123,670
Vonovia
SE
..................
6,760
406,400
Zalando
SE
(a)(e)(f)
..............
2,782
253,723
17,494,629
Hong
Kong
—
2.5%
AIA
Group
Ltd.
...............
152,354
1,752,742
CK
Asset
Holdings
Ltd.
..........
25,159
145,162
CK
Infrastructure
Holdings
Ltd.
.....
7,000
39,043
CLP
Holdings
Ltd.
.............
20,783
200,108
Hang
Lung
Properties
Ltd.
........
27,000
61,534
Hang
Seng
Bank
Ltd.
...........
9,574
163,991
Henderson
Land
Development
Co.
Ltd.
18,836
71,924
HK
Electric
Investments
&
HK
Electric
Investments
Ltd.
(b)(f)
..........
35,000
34,754
HKT
Trust
&
HKT
Ltd.
(b)
..........
50,100
68,502
Hong
Kong
&
China
Gas
Co.
Ltd.
...
140,220
211,858
Hong
Kong
Exchanges
&
Clearing
Ltd.
15,007
922,188
Hongkong
Land
Holdings
Ltd.
(g)
....
13,800
65,918
Jardine
Matheson
Holdings
Ltd.
(g)
...
2,800
148,003
Link
REIT
...................
25,500
218,365
Melco
Resorts
&
Entertainment
Ltd.,
ADR
(a)(g)
..................
2,311
23,665
MTR
Corp.
Ltd.
...............
20,000
107,638
New
World
Development
Co.
Ltd.
...
18,361
74,679
Power
Assets
Holdings
Ltd.
.......
18,500
108,449
Sino
Land
Co.
Ltd.
.............
37,311
50,195
Sun
Hung
Kai
Properties
Ltd.
......
16,500
206,025
Swire
Pacific
Ltd.,
Class
A
........
6,500
38,461
Swire
Properties
Ltd.
...........
15,600
39,117
Techtronic
Industries
Co.
Ltd.
......
17,500
345,827
WH
Group
Ltd.
(e)(f)
.............
117,000
83,310
Wharf
Real
Estate
Investment
Co.
Ltd.
21,953
112,792
Xinyi
Glass
Holdings
Ltd.
........
21,000
62,644
5,356,894
Ireland
—
0.7%
CRH
plc
....................
9,929
468,598
Flutter
Entertainment
plc
(a)
........
2,055
407,572
Kerry
Group
plc,
Class
A
.........
1,947
261,616
Kingspan
Group
plc
............
1,962
195,708
Smurfit
Kappa
Group
plc
.........
3,082
162,262
1,495,756
Israel
—
0.6%
Azrieli
Group
Ltd.
(d)
.............
564
50,771
Bank
Hapoalim
BM
(d)
...........
14,196
124,692
Bank
Leumi
Le-Israel
BM
........
18,004
152,549
Check
Point
Software
Technologies
Ltd.
(a)(d)(g)
..................
1,450
163,908
Elbit
Systems
Ltd.
.............
313
45,322
ICL
Group
Ltd.
................
9,360
68,210
Israel
Discount
Bank
Ltd.,
Class
A
(a)
.
13,363
70,541
Mizrahi
Tefahot
Bank
Ltd.
........
1,858
62,577
Nice
Ltd.
(a)(d)
.................
771
218,318
Security
Shares
Shares
Value
Israel
(continued)
Teva
Pharmaceutical
Industries
Ltd.,
ADR
(a)(d)(g)
.................
13,352
$
130,048
Wix.com
Ltd.
(a)(d)(g)
.............
700
137,179
1,224,115
Italy
—
2.0%
Amplifon
SpA
................
1,578
74,995
Assicurazioni
Generali
SpA
.......
13,610
288,249
Atlantia
SpA
(a)
................
6,193
116,872
Davide
Campari-Milano
NV
.......
6,845
96,153
DiaSorin
SpA
................
323
67,640
Enel
SpA
...................
102,279
785,014
Eni
SpA
....................
31,481
419,806
Ferrari
NV
(g)
.................
1,568
327,241
FinecoBank
Banca
Fineco
SpA
(a)
...
7,920
143,050
Infrastrutture
Wireless
Italiane
SpA
(e)(f)
4,226
47,069
Intesa
Sanpaolo
SpA
...........
207,497
587,421
Mediobanca
Banca
di
Credito
Finanziario
SpA
(a)
...........
7,311
87,959
Moncler
SpA
.................
2,575
157,051
Nexi
SpA
(a)(e)(f)
................
5,591
104,259
Poste
Italiane
SpA
(e)(f)
...........
6,946
95,382
Prysmian
SpA
................
3,194
111,562
Recordati
Industria
Chimica
e
Farmaceutica
SpA
...........
1,390
80,564
Snam
SpA
..................
25,938
143,486
Telecom
Italia
SpA
.............
205,927
81,524
Terna
SpA
..................
17,272
122,576
UniCredit
SpA
................
26,209
346,842
4,284,715
Japan
—
23.9%
ABC-Mart,
Inc.
...............
400
22,469
Acom
Co.
Ltd.
................
5,300
19,367
Advantest
Corp.
...............
2,500
222,774
Aeon
Co.
Ltd.
................
8,100
212,949
AGC,
Inc.
...................
2,500
128,831
Aisin
Seiki
Co.
Ltd.
.............
1,900
68,850
Ajinomoto
Co.,
Inc.
.............
5,700
168,434
ANA
Holdings,
Inc.
(a)
............
2,000
51,995
Asahi
Group
Holdings
Ltd.
........
5,800
279,881
Asahi
Intecc
Co.
Ltd.
...........
2,800
76,688
Asahi
Kasei
Corp.
.............
15,700
168,242
Astellas
Pharma,
Inc.
...........
23,200
381,850
Azbil
Corp.
..................
1,600
68,889
Bandai
Namco
Holdings,
Inc.
......
2,500
187,944
Bridgestone
Corp.
.............
7,200
340,641
Brother
Industries
Ltd.
..........
3,000
66,016
Canon,
Inc.
..................
12,700
310,745
Capcom
Co.
Ltd.
..............
2,200
61,129
Casio
Computer
Co.
Ltd.
.........
2,600
43,046
Central
Japan
Railway
Co.
.......
1,800
287,323
Chiba
Bank
Ltd.
(The)
...........
6,300
40,825
Chubu
Electric
Power
Co.,
Inc.
.....
8,100
95,732
Chugai
Pharmaceutical
Co.
Ltd.
....
8,500
311,048
Concordia
Financial
Group
Ltd.
....
14,300
56,292
Cosmos
Pharmaceutical
Corp.
.....
200
33,966
CyberAgent,
Inc.
..............
5,200
100,321
Dai
Nippon
Printing
Co.
Ltd.
......
2,700
65,050
Daifuku
Co.
Ltd.
...............
1,300
121,922
Dai-ichi
Life
Holdings,
Inc.
........
12,800
279,950
Daiichi
Sankyo
Co.
Ltd.
..........
21,939
583,164
Daikin
Industries
Ltd.
...........
3,100
675,919
Daito
Trust
Construction
Co.
Ltd.
...
800
93,846
Daiwa
House
Industry
Co.
Ltd.
.....
7,200
240,012
Daiwa
House
REIT
Investment
Corp.
23
67,543
BlackRock
International
Index
V.I.
Fund
5
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Japan
(continued)
Daiwa
Securities
Group,
Inc.
......
18,500
$
107,832
Denso
Corp.
.................
5,400
352,606
Dentsu
Group,
Inc.
.............
2,600
100,034
Disco
Corp.
..................
400
112,035
East
Japan
Railway
Co.
.........
3,800
268,558
Eisai
Co.
Ltd.
................
3,000
224,722
ENEOS
Holdings,
Inc.
..........
39,550
160,666
FANUC
Corp.
................
2,400
526,229
Fast
Retailing
Co.
Ltd.
..........
700
516,261
Fuji
Electric
Co.
Ltd.
............
1,600
72,809
FUJIFILM
Holdings
Corp.
........
4,400
379,939
Fujitsu
Ltd.
..................
2,500
451,777
GLP
J-Reit
..................
54
88,888
GMO
Payment
Gateway,
Inc.
......
500
63,131
Hakuhodo
DY
Holdings,
Inc.
......
3,100
53,348
Hamamatsu
Photonics
KK
........
1,700
105,160
Hankyu
Hanshin
Holdings,
Inc.
.....
3,000
94,421
Harmonic
Drive
Systems,
Inc.
.....
500
23,979
Hikari
Tsushin,
Inc.
.............
300
50,706
Hino
Motors
Ltd.
..............
3,400
31,572
Hirose
Electric
Co.
Ltd.
..........
435
72,291
Hisamitsu
Pharmaceutical
Co.,
Inc.
..
700
26,476
Hitachi
Construction
Machinery
Co.
Ltd.
1,400
39,332
Hitachi
Ltd.
..................
12,100
715,845
Hitachi
Metals
Ltd.
(a)
............
2,900
56,003
Honda
Motor
Co.
Ltd.
...........
20,500
630,248
Hoshizaki
Corp.
...............
700
63,668
Hoya
Corp.
..................
4,600
717,687
Hulic
Co.
Ltd.
................
3,000
33,410
Ibiden
Co.
Ltd.
................
1,300
71,507
Idemitsu
Kosan
Co.
Ltd.
.........
2,425
63,794
Iida
Group
Holdings
Co.
Ltd.
......
2,000
51,443
Inpex
Corp.
..................
13,600
105,894
Isuzu
Motors
Ltd.
..............
7,300
94,975
Ito
En
Ltd.
...................
700
46,434
ITOCHU
Corp.
...............
15,000
436,890
Itochu
Techno-Solutions
Corp.
.....
1,300
42,217
Japan
Airlines
Co.
Ltd.
(a)
.........
1,500
35,710
Japan
Exchange
Group,
Inc.
......
6,300
156,240
Japan
Metropolitan
Fund
Invest
....
88
84,498
Japan
Post
Bank
Co.
Ltd.
(d)
.......
5,400
46,318
Japan
Post
Holdings
Co.
Ltd.
(a)
.....
19,800
166,432
Japan
Post
Insurance
Co.
Ltd.
.....
3,000
54,414
Japan
Real
Estate
Investment
Corp.
.
15
89,974
Japan
Tobacco,
Inc.
............
15,000
293,914
JFE
Holdings,
Inc.
.............
6,500
97,476
JSR
Corp.
..................
2,600
93,460
Kajima
Corp.
.................
5,200
66,636
Kakaku.com,
Inc.
..............
1,800
58,127
Kansai
Electric
Power
Co.,
Inc.
(The)
8,400
81,398
Kansai
Paint
Co.
Ltd.
...........
2,400
59,536
Kao
Corp.
...................
6,100
363,033
KDDI
Corp.
..................
20,200
665,047
Keio
Corp.
..................
1,200
64,184
Keisei
Electric
Railway
Co.
Ltd.
....
1,700
56,313
Keyence
Corp.
...............
2,456
1,465,915
Kikkoman
Corp.
...............
1,700
138,334
Kintetsu
Group
Holdings
Co.
Ltd.
(a)
..
2,100
70,621
Kirin
Holdings
Co.
Ltd.
..........
10,400
193,023
Kobayashi
Pharmaceutical
Co.
Ltd.
..
600
47,570
Kobe
Bussan
Co.
Ltd.
...........
1,600
52,278
Koei
Tecmo
Holdings
Co.
Ltd.
.....
780
37,024
Koito
Manufacturing
Co.
Ltd.
......
1,200
72,160
Komatsu
Ltd.
................
10,800
258,643
Konami
Holdings
Corp.
..........
1,200
75,215
Security
Shares
Shares
Value
Japan
(continued)
Kose
Corp.
..................
400
$
47,838
Kubota
Corp.
................
13,000
276,674
Kurita
Water
Industries
Ltd.
.......
1,300
62,554
Kyocera
Corp.
................
3,900
243,794
Kyowa
Kirin
Co.
Ltd.
............
3,500
126,176
Lasertec
Corp.
...............
900
204,892
Lawson,
Inc.
.................
700
34,386
Lion
Corp.
..................
3,000
48,523
Lixil
Corp.
...................
3,500
101,442
M3,
Inc.
....................
5,600
399,103
Makita
Corp.
.................
2,700
148,453
Marubeni
Corp.
...............
19,700
162,983
Mazda
Motor
Corp.
(a)
...........
7,600
65,770
McDonald's
Holdings
Co.
Japan
Ltd.
.
900
42,461
Medipal
Holdings
Corp.
..........
2,300
43,286
MEIJI
Holdings
Co.
Ltd.
.........
1,500
96,979
Mercari,
Inc.
(a)
................
1,300
71,835
MINEBEA
MITSUMI,
Inc.
........
4,600
117,152
MISUMI
Group,
Inc.
............
3,400
144,667
Mitsubishi
Chemical
Holdings
Corp.
.
15,800
143,839
Mitsubishi
Corp.
...............
15,900
499,299
Mitsubishi
Electric
Corp.
.........
22,900
318,255
Mitsubishi
Estate
Co.
Ltd.
........
15,000
238,842
Mitsubishi
Gas
Chemical
Co.,
Inc.
..
2,200
43,383
Mitsubishi
HC
Capital,
Inc.
........
8,300
43,400
Mitsubishi
Heavy
Industries
Ltd.
....
4,000
107,176
Mitsubishi
UFJ
Financial
Group,
Inc.
.
154,260
911,882
Mitsui
&
Co.
Ltd.
..............
18,900
413,286
Mitsui
Chemicals,
Inc.
...........
2,400
80,182
Mitsui
Fudosan
Co.
Ltd.
.........
11,400
270,806
Miura
Co.
Ltd.
................
1,100
43,972
Mizuho
Financial
Group,
Inc.
......
30,370
429,649
MonotaRO
Co.
Ltd.
............
3,000
67,230
MS&AD
Insurance
Group
Holdings,
Inc.
5,600
187,302
Murata
Manufacturing
Co.
Ltd.
.....
7,300
645,703
Nabtesco
Corp.
...............
1,500
56,715
NEC
Corp.
..................
3,200
173,411
Nexon
Co.
Ltd.
...............
5,900
94,698
NGK
Insulators
Ltd.
............
2,900
49,158
NH
Foods
Ltd.
................
900
33,988
Nidec
Corp.
.................
5,600
617,344
Nihon
M&A
Center
Holdings,
Inc.
...
3,800
111,585
Nintendo
Co.
Ltd.
..............
1,400
669,036
Nippon
Building
Fund,
Inc.
........
19
123,439
Nippon
Express
Co.
Ltd.
.........
1,000
68,870
Nippon
Paint
Holdings
Co.
Ltd.
.....
9,500
103,457
Nippon
Prologis
REIT,
Inc.
........
27
90,235
Nippon
Sanso
Holdings
Corp.
.....
1,700
42,604
Nippon
Shinyaku
Co.
Ltd.
........
600
49,874
Nippon
Steel
Corp.
.............
10,800
194,249
Nippon
Telegraph
&
Telephone
Corp.
16,200
448,889
Nippon
Yusen
KK
..............
2,000
149,857
Nissan
Chemical
Corp.
..........
1,500
87,729
Nissan
Motor
Co.
Ltd.
(a)
..........
28,700
143,427
Nisshin
Seifun
Group,
Inc.
........
2,600
43,084
Nissin
Foods
Holdings
Co.
Ltd.
....
800
64,196
Nitori
Holdings
Co.
Ltd.
..........
1,000
197,072
Nitto
Denko
Corp.
.............
1,700
121,017
Nomura
Holdings,
Inc.
..........
37,900
186,843
Nomura
Real
Estate
Holdings,
Inc.
..
1,200
31,198
Nomura
Real
Estate
Master
Fund,
Inc.
52
74,842
Nomura
Research
Institute
Ltd.
....
4,410
162,097
NSK
Ltd.
...................
4,800
32,526
NTT
Data
Corp.
...............
7,700
148,874
Obayashi
Corp.
...............
8,600
70,888
BlackRock
International
Index
V.I.
Fund
6
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Japan
(continued)
Obic
Co.
Ltd.
.................
900
$
171,142
Odakyu
Electric
Railway
Co.
Ltd.
...
3,500
81,008
Oji
Holdings
Corp.
.............
9,600
48,372
Olympus
Corp.
...............
14,400
315,187
Omron
Corp.
.................
2,400
237,486
Ono
Pharmaceutical
Co.
Ltd.
......
4,700
107,178
Oracle
Corp.
Japan
............
500
43,923
Oriental
Land
Co.
Ltd.
..........
2,500
404,439
ORIX
Corp.
..................
15,400
288,158
Orix
JREIT,
Inc.
...............
31
53,952
Osaka
Gas
Co.
Ltd.
............
5,000
91,365
Otsuka
Corp.
................
1,400
71,992
Otsuka
Holdings
Co.
Ltd.
........
4,900
209,537
Pan
Pacific
International
Holdings
Corp.
....................
5,300
109,357
Panasonic
Corp.
..............
27,600
342,113
PeptiDream,
Inc.
(a)
.............
1,200
39,173
Persol
Holdings
Co.
Ltd.
.........
2,400
59,830
Pigeon
Corp.
.................
1,300
30,222
Pola
Orbis
Holdings,
Inc.
.........
1,200
27,621
Rakuten
Group,
Inc.
............
10,400
101,304
Recruit
Holdings
Co.
Ltd.
........
17,000
1,039,140
Renesas
Electronics
Corp.
(a)
......
15,800
194,456
Resona
Holdings,
Inc.
..........
25,300
101,200
Ricoh
Co.
Ltd.
................
8,900
91,067
Rinnai
Corp.
.................
400
43,916
Rohm
Co.
Ltd.
................
1,100
103,733
Ryohin
Keikaku
Co.
Ltd.
.........
3,000
66,729
Santen
Pharmaceutical
Co.
Ltd.
....
4,400
61,882
SBI
Holdings,
Inc.
.............
2,945
72,130
SCSK
Corp.
.................
2,100
44,417
Secom
Co.
Ltd.
...............
2,700
195,286
Seiko
Epson
Corp.
.............
3,700
74,703
Sekisui
Chemical
Co.
Ltd.
........
5,000
85,911
Sekisui
House
Ltd.
.............
7,800
163,339
Seven
&
i
Holdings
Co.
Ltd.
.......
9,340
425,198
SG
Holdings
Co.
Ltd.
...........
4,200
118,822
Sharp
Corp.
.................
2,300
28,994
Shimadzu
Corp.
...............
3,100
136,140
Shimano,
Inc.
................
900
262,968
Shimizu
Corp.
................
7,300
54,643
Shin-Etsu
Chemical
Co.
Ltd.
......
4,400
742,583
Shionogi
&
Co.
Ltd.
............
3,300
225,817
Shiseido
Co.
Ltd.
..............
4,900
329,326
Shizuoka
Bank
Ltd.
(The)
........
5,700
46,832
SMC
Corp.
..................
700
436,737
SoftBank
Corp.
...............
35,800
485,620
SoftBank
Group
Corp.
..........
15,100
872,558
Sohgo
Security
Services
Co.
Ltd.
...
900
40,461
Sompo
Holdings,
Inc.
...........
4,100
177,879
Sony
Corp.
..................
15,900
1,765,198
Square
Enix
Holdings
Co.
Ltd.
.....
1,000
53,446
Stanley
Electric
Co.
Ltd.
.........
1,800
45,465
Subaru
Corp.
................
7,800
144,142
SUMCO
Corp.
................
3,600
71,822
Sumitomo
Chemical
Co.
Ltd.
......
17,900
92,906
Sumitomo
Corp.
..............
14,200
200,034
Sumitomo
Dainippon
Pharma
Co.
Ltd.
2,100
37,535
Sumitomo
Electric
Industries
Ltd.
...
9,200
122,339
Sumitomo
Metal
Mining
Co.
Ltd.
....
3,100
112,098
Sumitomo
Mitsui
Financial
Group,
Inc.
16,200
569,906
Sumitomo
Mitsui
Trust
Holdings,
Inc.
.
4,100
141,204
Sumitomo
Realty
&
Development
Co.
Ltd.
.....................
3,800
138,894
Suntory
Beverage
&
Food
Ltd.
.....
1,800
74,620
Security
Shares
Shares
Value
Japan
(continued)
Suzuki
Motor
Corp.
............
4,600
$
205,524
Sysmex
Corp.
................
2,100
260,838
T&D
Holdings,
Inc.
.............
6,400
87,795
Taisei
Corp.
.................
2,500
80,104
Taisho
Pharmaceutical
Holdings
Co.
Ltd.
.....................
500
29,144
Takeda
Pharmaceutical
Co.
Ltd.
....
19,971
658,699
TDK
Corp.
..................
4,800
173,101
Terumo
Corp.
................
8,100
382,469
THK
Co.
Ltd.
.................
1,600
35,110
TIS,
Inc.
....................
2,900
79,153
Tobu
Railway
Co.
Ltd.
...........
2,500
67,314
Toho
Co.
Ltd.
................
1,500
70,667
Toho
Gas
Co.
Ltd.
.............
1,000
43,494
Tohoku
Electric
Power
Co.,
Inc.
....
5,700
41,902
Tokio
Marine
Holdings,
Inc.
.......
7,800
418,119
Tokyo
Century
Corp.
............
400
22,520
Tokyo
Electric
Power
Co.
Holdings,
Inc.
(a)
....................
19,200
54,668
Tokyo
Electron
Ltd.
............
1,900
839,380
Tokyo
Gas
Co.
Ltd.
............
4,800
89,315
Tokyu
Corp.
.................
6,600
97,967
TOPPAN,
Inc.
................
3,300
55,953
Toray
Industries,
Inc.
...........
16,800
106,750
Toshiba
Corp.
................
5,000
210,455
Tosoh
Corp.
.................
3,500
63,426
TOTO
Ltd.
..................
1,700
80,948
Toyo
Suisan
Kaisha
Ltd.
.........
1,000
44,280
Toyota
Industries
Corp.
..........
1,900
156,332
Toyota
Motor
Corp.
............
133,000
2,369,712
Toyota
Tsusho
Corp.
............
2,800
117,582
Trend
Micro,
Inc.
..............
1,600
89,101
Tsuruha
Holdings,
Inc.
..........
500
61,661
Unicharm
Corp.
...............
5,100
225,991
United
Urban
Investment
Corp.
....
39
52,711
USS
Co.
Ltd.
.................
2,900
49,365
Welcia
Holdings
Co.
Ltd.
.........
1,200
43,251
West
Japan
Railway
Co.
.........
2,700
135,721
Yakult
Honsha
Co.
Ltd.
..........
1,600
80,994
Yamada
Holdings
Co.
Ltd.
........
8,400
35,276
Yamaha
Corp.
................
1,600
100,643
Yamaha
Motor
Co.
Ltd.
..........
3,700
103,007
Yamato
Holdings
Co.
Ltd.
........
3,700
93,648
Yaskawa
Electric
Corp.
..........
2,900
139,254
Yokogawa
Electric
Corp.
.........
3,000
52,325
Z
Holdings
Corp.
..............
33,400
213,762
ZOZO,
Inc.
..................
1,400
52,451
50,851,646
Jordan
—
0.0%
Hikma
Pharmaceuticals
plc
.......
2,182
71,779
Luxembourg
—
0.2%
ArcelorMittal
SA
...............
8,720
266,942
Eurofins
Scientific
SE
...........
1,690
216,982
483,924
Macau
—
0.1%
Galaxy
Entertainment
Group
Ltd.
(a)
..
28,000
143,669
Sands
China
Ltd.
(a)
.............
30,400
62,214
SJM
Holdings
Ltd.
.............
26,000
17,671
Wynn
Macau
Ltd.
(a)
............
20,800
17,503
241,057
Netherlands
—
5.4%
ABN
AMRO
Bank
NV,
CVA
(a)(e)(f)
....
4,828
69,655
Adyen
NV
(a)(e)(f)
................
249
696,046
BlackRock
International
Index
V.I.
Fund
7
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Netherlands
(continued)
Aegon
NV
...................
23,684
$
122,253
Akzo
Nobel
NV
...............
2,373
259,285
Argenx
SE
(a)(d)
................
570
172,244
ASM
International
NV
...........
595
233,013
ASML
Holding
NV
.............
5,273
3,939,239
EXOR
NV
...................
1,319
110,687
Heineken
Holding
NV
...........
1,432
124,693
Heineken
NV
................
3,261
340,366
ING
Groep
NV
................
49,047
713,070
JDE
Peet's
NV
(a)
..............
950
28,391
Koninklijke
Ahold
Delhaize
NV
.....
13,200
439,536
Koninklijke
DSM
NV
............
2,152
430,349
Koninklijke
KPN
NV
............
41,295
129,946
Koninklijke
Philips
NV
...........
11,517
511,665
Koninklijke
Vopak
NV
...........
935
36,841
NN
Group
NV
................
3,317
173,752
Randstad
NV
................
1,393
93,787
Royal
Dutch
Shell
plc,
Class
A
.....
51,419
1,143,516
Royal
Dutch
Shell
plc,
Class
B
.....
46,814
1,037,240
Universal
Music
Group
NV
(a)
......
8,983
240,522
Wolters
Kluwer
NV
.............
3,324
352,332
11,398,428
New
Zealand
—
0.3%
a2
Milk
Co.
Ltd.
(The)
(a)
..........
9,034
40,002
Auckland
International
Airport
Ltd.
(a)
.
15,598
83,845
Fisher
&
Paykel
Healthcare
Corp.
Ltd.
7,121
156,631
Mercury
NZ
Ltd.
...............
8,325
37,233
Meridian
Energy
Ltd.
...........
17,039
57,622
Ryman
Healthcare
Ltd.
..........
5,318
55,337
Spark
New
Zealand
Ltd.
.........
21,630
71,160
Xero
Ltd.
(a)
..................
1,667
163,581
665,411
Norway
—
0.6%
DNB
Bank
ASA
...............
11,820
268,724
Equinor
ASA
.................
12,472
317,173
Gjensidige
Forsikring
ASA
........
2,659
58,892
Mowi
ASA
...................
5,540
140,754
Norsk
Hydro
ASA
..............
15,926
118,872
Orkla
ASA
...................
8,687
79,731
Schibsted
ASA,
Class
A
.........
958
45,474
Schibsted
ASA,
Class
B
.........
1,303
55,419
Telenor
ASA
.................
8,961
150,831
1,235,870
Poland
—
0.0%
InPost
SA
(a)
..................
2,525
41,898
Portugal
—
0.2%
EDP
-
Energias
de
Portugal
SA
....
34,499
181,227
Galp
Energia
SGPS
SA
.........
6,665
75,701
Jeronimo
Martins
SGPS
SA
.......
3,347
66,723
323,651
Russia
—
0.1%
Coca-Cola
HBC
AG
(a)
...........
2,617
84,331
Evraz
plc
...................
6,748
53,538
137,869
Saudi
Arabia
—
0.1%
Delivery
Hero
SE
(a)(e)(f)
...........
1,982
252,814
Singapore
—
1.0%
Ascendas
REIT
...............
38,690
85,279
CapitaLand
Integrated
Commercial
Trust
....................
63,356
94,341
Capitaland
Investment
Ltd.
(a)
......
34,092
85,368
Security
Shares
Shares
Value
Singapore
(continued)
City
Developments
Ltd.
..........
5,431
$
27,487
DBS
Group
Holdings
Ltd.
........
22,867
506,701
Genting
Singapore
Ltd.
..........
80,400
42,391
Keppel
Corp.
Ltd.
..............
17,302
66,072
Mapletree
Commercial
Trust
......
29,200
44,252
Mapletree
Logistics
Trust
........
34,747
51,945
Oversea-Chinese
Banking
Corp.
Ltd.
42,535
358,176
Singapore
Airlines
Ltd.
(a)(d)
........
18,000
66,287
Singapore
Exchange
Ltd.
........
9,500
69,548
Singapore
Technologies
Engineering
Ltd.
.....................
20,781
58,009
Singapore
Telecommunications
Ltd.
(d)
101,050
181,917
United
Overseas
Bank
Ltd.
.......
15,059
284,880
UOL
Group
Ltd.
...............
5,646
28,391
Venture
Corp.
Ltd.
(d)
............
3,600
47,317
2,098,361
South
Africa
—
0.3%
Anglo
American
plc
............
16,347
572,940
Spain
—
2.4%
ACS
Actividades
de
Construccion
y
Servicios
SA
...............
3,133
84,869
Aena
SME
SA
(a)(e)(f)
.............
947
163,776
Amadeus
IT
Group
SA
(a)
.........
5,665
372,597
Banco
Bilbao
Vizcaya
Argentaria
SA
.
83,223
549,323
Banco
Santander
SA
...........
217,250
786,959
CaixaBank
SA
................
55,896
173,335
Cellnex
Telecom
SA
(e)(f)
..........
6,432
397,112
EDP
Renovaveis
SA
(d)
..........
3,638
90,266
Enagas
SA
(d)
.................
3,015
67,006
Endesa
SA
..................
4,163
83,957
Ferrovial
SA
.................
5,975
174,402
Grifols
SA
...................
3,727
91,006
Iberdrola
SA
.................
74,739
751,907
Industria
de
Diseno
Textil
SA
......
13,510
497,110
Naturgy
Energy
Group
SA
........
3,421
86,110
Red
Electrica
Corp.
SA
..........
5,673
113,813
Repsol
SA
..................
18,161
237,066
Siemens
Gamesa
Renewable
Energy
SA
(a)
....................
2,788
70,863
Telefonica
SA
................
64,188
301,207
5,092,684
Sweden
—
3.4%
Alfa
Laval
AB
................
3,904
145,613
Assa
Abloy
AB,
Class
B
.........
12,407
359,885
Atlas
Copco
AB,
Class
A
.........
8,389
506,575
Atlas
Copco
AB,
Class
B
.........
4,858
246,916
Boliden
AB
(a)
.................
3,348
107,204
Electrolux
AB,
Class
B
..........
2,964
68,479
Embracer
Group
AB
(a)
...........
5,542
53,366
Epiroc
AB,
Class
A
.............
8,142
169,269
Epiroc
AB,
Class
B
.............
4,621
81,846
EQT
AB
....................
3,709
154,011
Essity
AB,
Class
B
.............
7,695
238,653
Evolution
AB
(e)(f)
...............
2,144
324,686
Fastighets
AB
Balder,
Class
B
(a)
....
1,283
77,104
H
&
M
Hennes
&
Mauritz
AB,
Class
B
(a)
9,219
186,608
Hexagon
AB,
Class
B
...........
24,465
378,425
Husqvarna
AB,
Class
B
..........
5,551
66,313
ICA
Gruppen
AB
..............
1,291
59,231
Industrivarden
AB,
Class
A
.......
1,354
43,256
Industrivarden
AB,
Class
C
.......
1,883
58,177
Investment
AB
Latour,
Class
B
.....
1,900
58,795
Investor
AB,
Class
B
............
22,956
493,655
BlackRock
International
Index
V.I.
Fund
8
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Sweden
(continued)
Kinnevik
AB,
Class
B
(a)
..........
2,905
$
102,123
L
E
Lundbergforetagen
AB,
Class
B
.
1,010
55,427
Lundin
Energy
AB
.............
2,489
92,395
Nibe
Industrier
AB,
Class
B
.......
17,994
226,126
Sandvik
AB
..................
14,218
324,829
Securitas
AB,
Class
B
...........
4,163
65,890
Sinch
AB
(a)(e)(f)
................
6,345
123,042
Skandinaviska
Enskilda
Banken
AB,
Class
A
..................
20,626
290,689
Skanska
AB,
Class
B
...........
4,093
102,684
SKF
AB,
Class
B
..............
4,613
108,780
Svenska
Cellulosa
AB
SCA,
Class
B
.
7,777
120,528
Svenska
Handelsbanken
AB,
Class
A
18,412
206,203
Swedbank
AB,
Class
A
..........
11,445
230,785
Swedish
Match
AB
.............
20,290
177,674
Tele2
AB,
Class
B
.............
6,403
94,807
Telefonaktiebolaget
LM
Ericsson,
Class
B
......................
36,722
414,479
Telia
Co.
AB
.................
33,556
138,040
Volvo
AB,
Class
A
.............
2,528
57,120
Volvo
AB,
Class
B
.............
18,042
402,814
7,212,502
Switzerland
—
9.4%
ABB
Ltd.
(Registered)
...........
21,896
732,461
Adecco
Group
AG
(Registered)
....
1,827
91,543
Alcon,
Inc.
..................
6,181
500,480
Baloise
Holding
AG
(Registered)
...
592
89,800
Banque
Cantonale
Vaudoise
(Registered)
...............
386
29,349
Barry
Callebaut
AG
(Registered)
....
45
102,063
Chocoladefabriken
Lindt
&
Spruengli
AG
.....................
13
145,351
Chocoladefabriken
Lindt
&
Spruengli
AG
(Registered)
............
1
117,925
Cie
Financiere
Richemont
SA
(Registered)
...............
6,509
674,867
Clariant
AG
(Registered)
.........
2,648
49,704
Credit
Suisse
Group
AG
(Registered)
31,994
315,981
EMS-Chemie
Holding
AG
(Registered)
88
83,144
Geberit
AG
(Registered)
.........
468
343,607
Givaudan
SA
(Registered)
........
115
524,296
Holcim
Ltd.
(a)
.................
6,516
313,974
Julius
Baer
Group
Ltd.
..........
2,750
182,709
Kuehne
+
Nagel
International
AG
(Registered)
...............
667
227,715
Logitech
International
SA
(Registered)
2,185
194,393
Lonza
Group
AG
(Registered)
.....
939
704,353
Nestle
SA
(Registered)
..........
36,124
4,352,583
Novartis
AG
(Registered)
........
27,789
2,278,676
Partners
Group
Holding
AG
.......
286
446,343
Roche
Holding
AG
.............
9,205
3,377,821
Schindler
Holding
AG
...........
508
136,383
Schindler
Holding
AG
(Registered)
..
234
60,284
SGS
SA
(Registered)
...........
75
218,313
Sika
AG
(Registered)
...........
1,771
559,943
Sonova
Holding
AG
(Registered)
...
667
252,065
STMicroelectronics
NV
..........
8,621
376,408
Straumann
Holding
AG
(Registered)
.
128
229,563
Swatch
Group
AG
(The)
(d)
........
377
98,352
Swatch
Group
AG
(The)
(Registered)
685
35,246
Swiss
Life
Holding
AG
(Registered)
..
404
203,563
Swiss
Prime
Site
AG
(Registered)
...
947
92,504
Swisscom
AG
(Registered)
.......
329
189,333
Temenos
AG
(Registered)
........
805
109,228
UBS
Group
AG
(Registered)
......
46,326
739,438
Security
Shares
Shares
Value
Switzerland
(continued)
Vifor
Pharma
AG
..............
605
$
78,418
Zurich
Insurance
Group
AG
.......
1,880
768,770
20,026,949
Taiwan
—
0.1%
Sea
Ltd.,
ADR
(a)(d)(g)
.............
864
275,383
United
Kingdom
—
11.9%
3i
Group
plc
.................
12,301
211,291
Abrdn
plc
...................
28,351
96,959
Admiral
Group
plc
.............
2,316
96,771
Ashtead
Group
plc
.............
5,620
424,835
Associated
British
Foods
plc
......
4,434
110,374
AstraZeneca
plc
..............
19,433
2,342,021
Auto
Trader
Group
plc
(e)(f)
........
12,141
95,746
AVEVA
Group
plc
..............
1,463
70,708
Aviva
plc
...................
48,823
258,756
BAE
Systems
plc
..............
41,041
310,847
Barclays
plc
.................
213,150
541,610
Barratt
Developments
plc
........
12,384
109,472
Berkeley
Group
Holdings
plc
......
1,414
82,572
BP
plc
.....................
254,704
1,160,140
British
American
Tobacco
plc
......
27,220
951,462
British
Land
Co.
plc
(The)
........
11,235
74,551
BT
Group
plc
(a)
...............
109,839
235,474
Bunzl
plc
...................
4,215
139,072
Burberry
Group
plc
.............
4,960
120,710
CK
Hutchison
Holdings
Ltd.
.......
34,159
227,879
CNH
Industrial
NV
(g)
............
12,504
210,180
Coca-Cola
Europacific
Partners
plc
(d)
.
2,626
145,192
Compass
Group
plc
(a)
...........
22,354
457,166
Croda
International
plc
..........
1,754
200,968
DCC
plc
....................
1,289
107,459
Diageo
plc
..................
29,369
1,421,900
Direct
Line
Insurance
Group
plc
....
18,282
71,338
Entain
plc
(a)
..................
7,296
208,386
Experian
plc
.................
11,682
489,361
GlaxoSmithKline
plc
............
63,307
1,194,804
Halma
plc
...................
4,761
181,601
Hargreaves
Lansdown
plc
(d)
.......
4,262
81,833
HSBC
Holdings
plc
............
256,515
1,341,234
Imperial
Brands
plc
............
12,079
252,652
Informa
plc
(a)
.................
19,097
140,439
InterContinental
Hotels
Group
plc
(a)
..
2,306
147,242
Intertek
Group
plc
.............
2,023
135,272
J
Sainsbury
plc
...............
20,732
79,461
JD
Sports
Fashion
plc
...........
6,486
91,151
Johnson
Matthey
plc
...........
2,312
82,948
Just
Eat
Takeaway.com
NV
(a)(e)(f)
....
2,264
165,417
Kingfisher
plc
................
26,020
117,451
Land
Securities
Group
plc
........
9,146
85,244
Legal
&
General
Group
plc
.......
73,837
277,412
Lloyds
Banking
Group
plc
........
888,339
552,921
London
Stock
Exchange
Group
plc
..
4,099
410,754
M&G
plc
....................
33,500
91,529
Melrose
Industries
plc
...........
53,740
124,768
National
Grid
plc
..............
44,279
527,616
NatWest
Group
plc
.............
72,604
218,891
Next
plc
....................
1,718
188,981
Ocado
Group
plc
(a)
.............
6,321
141,261
Pearson
plc
.................
9,180
88,038
Persimmon
plc
...............
4,139
148,031
Phoenix
Group
Holdings
plc
......
6,962
60,188
Prudential
plc
................
32,831
637,100
Reckitt
Benckiser
Group
plc
.......
8,876
697,300
RELX
plc
...................
24,248
698,009
BlackRock
International
Index
V.I.
Fund
9
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
United
Kingdom
(continued)
Rentokil
Initial
plc
..............
23,374
$
183,551
Rolls-Royce
Holdings
plc
(a)
.......
107,406
200,604
Sage
Group
plc
(The)
...........
13,453
128,095
Schroders
plc
................
1,440
69,350
Segro
plc
...................
14,984
240,701
Severn
Trent
plc
..............
3,146
110,139
Smith
&
Nephew
plc
............
11,036
190,126
Smiths
Group
plc
..............
4,753
91,651
Spirax-Sarco
Engineering
plc
......
917
184,506
SSE
plc
....................
12,985
273,401
St.
James's
Place
plc
...........
6,981
140,823
Standard
Chartered
plc
..........
32,698
191,145
Taylor
Wimpey
plc
.............
45,830
95,588
Tesco
plc
...................
96,771
329,567
Unilever
plc
..................
18,541
1,001,793
Unilever
plc
..................
14,473
783,545
United
Utilities
Group
plc
.........
8,430
109,719
Vodafone
Group
plc
............
350,725
533,695
Whitbread
plc
(a)
...............
2,676
118,983
Wm
Morrison
Supermarkets
plc
....
29,757
118,079
WPP
plc
....................
14,848
198,927
25,226,736
United
States
—
1.3%
CyberArk
Software
Ltd.
(a)(d)
.......
497
78,437
Ferguson
plc
.................
2,822
391,755
Jackson
Financial,
Inc.,
Class
A
(a)
...
820
21,320
James
Hardie
Industries
plc,
CDI
...
5,471
194,063
QIAGEN
NV
(a)
................
2,837
147,191
Schneider
Electric
SE
...........
6,763
1,126,405
Stellantis
NV
.................
25,637
488,249
Swiss
Re
AG
.................
3,808
325,014
Tenaris
SA
..................
6,279
66,049
2,838,483
Total
Common
Stocks
—
98.4%
(Cost:
$176,837,238)
.............................
209,021,723
Preferred
Stocks
—
0.5%
Germany
—
0.5%
Bayerische
Motoren
Werke
AG
(Preference)
...............
733
55,603
Fuchs
Petrolub
SE
(Preference)
....
924
43,262
Security
Shares
Shares
Value
Germany
(continued)
Henkel
AG
&
Co.
KGaA
(Preference)
2,243
$
207,497
Porsche
Automobil
Holding
SE
(Preference)
...............
1,910
188,881
Sartorius
AG
(Preference)
........
331
210,717
Volkswagen
AG
(Preference)
......
2,316
516,242
1,222,202
Total
Preferred
Stocks
—
0.5%
(Cost:
$665,923)
................................
1,222,202
Rights
—
0.0%
France
—
0.0%
Veolia
Environnement
SA
(Expires
10/28/21)
(a)(d)
...............
6,764
5,490
Germany
—
0.0%
Deutsche
Lufthansa
AG
(Expires
10/05/21)
(a)(d)
...............
4,000
9,498
Total
Rights
—
0.0%
(Cost:
$23,010)
................................
14,988
Total
Long-Term
Investments
—
98.9%
(Cost:
$177,526,171)
.............................
210,258,913
Short-Term
Securities
—
0.9%
(h)(i)
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class,
0.01%
......
203,398
203,398
SL
Liquidity
Series,
LLC,
Money
Market
Series,
0.13%
(j)
.............
1,628,439
1,628,928
Total
Short-Term
Securities
—
0.9%
(Cost:
$1,832,326)
..............................
1,832,326
Total
Investments
—
99.8%
(Cost:
$179,358,497)
.............................
212,091,239
Other
Assets
Less
Liabilities
—
0.2%
...................
361,842
Net
Assets
—
100.0%
..............................
$
212,453,081
(a)
Non-income
producing
security.
(b)
A
security
contractually
bound
to
one
or
more
other
securities
to
form
a
single
saleable
unit
which
cannot
be
sold
separately.
(c)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(d)
All
or
a
portion
of
this
security
is
on
loan.
(e)
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.
(f)
This
security
may
be
resold
to
qualified
foreign
investors
and
foreign
institutional
buyers
under
Regulation
S
of
the
Securities
Act
of
1933.
(g)
U.S.
dollar
denominated
security
issued
by
foreign
domiciled
entity.
(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.
BlackRock
International
Index
V.I.
Fund
10
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the
period
ended
September
30,
2021
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
12/31/20
Purchases
at
Cost
Proceeds
from
Sale
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
09/30/21
Shares
Held
at
09/30/21
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class
(a)
..
$
207,683
$
—
$
(4,285)
$
—
$
—
$
203,398
203,398
$
11
$
—
SL
Liquidity
Series,
LLC,
Money
Market
Series
(a)
..........
6,379,240
—
(4,750,306)
(181)
175
1,628,928
1,628,439
8,734
(b)
—
$
(181)
$
175
$
1,832,326
$
8,745
$
—
—
—
(a)
Represents
net
amount
purchased
(sold).
(b)
All
or
a
portion
represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
BlackRock
International
Index
V.I.
Fund
11
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
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
Nikkei
225
Index
..........................................................
4
12/09/21
$
533
$
2,138
SPI
200
Index
............................................................
1
12/16/21
132
(388)
EURO
STOXX
50
Index
.....................................................
13
12/17/21
610
(15,681)
FTSE
100
Index
..........................................................
4
12/17/21
381
489
$
(13,442)
Glossary
of
Terms
Used
in
this
Report
Portfolio
Abbreviations
ADR
American
Depositary
Receipts
CDI
Crest
Depository
Interests
CVA
Certification
Van
Aandelon
(Dutch
Certificate)
REIT
Real
Estate
Investment
Trust
SCA
Svenska
Cellulosa
Aktiebolaget
BlackRock
International
Index
V.I.
Fund
12
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Fair
Value
Hierarchy
as
of
Period
End
Various
inputs
are
used
in
determining
the
fair
value
of
financial
instruments.
These
inputs
to
valuation
techniques
are
categorized
into
a
fair
value
hierarchy
consisting
of
three
broad
levels
for
financial
reporting
purposes
as
follows:
•
Level
1
—
Unadjusted
price
quotations
in
active
markets/exchanges
for
identical
assets
or
liabilities
that
the
Fund
has
the
ability
to
access;
•
Level
2
—
Other
observable
inputs
(including,
but
not
limited
to,
quoted
prices
for
similar
assets
or
liabilities
in
markets
that
are
active,
quoted
prices
for
identical
or
similar
assets
or
liabilities
in
markets
that
are
not
active,
inputs
other
than
quoted
prices
that
are
observable
for
the
assets
or
liabilities
(such
as
interest
rates,
yield
curves,
volatilities,
prepayment
speeds,
loss
severities,
credit
risks
and
default
rates)
or
other
market-corroborated
inputs);
and
•
Level
3
—
Unobservable
inputs
based
on
the
best
information
available
in
the
circumstances,
to
the
extent
observable
inputs
are
not
available
(including
the
BlackRock
Global
Valuation
Methodologies
Committee's
(the
"Global
Valuation
Committee's")
assumptions
used
in
determining
the
fair
value
of
financial
instruments).
The
hierarchy
gives
the
highest
priority
to
unadjusted
quoted
prices
in
active
markets
for
identical
assets
or
liabilities
(Level
1
measurements)
and
the
lowest
priority
to
unobservable
inputs
(Level
3
measurements).
Accordingly,
the
degree
of
judgment
exercised
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
The
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
fair
value
hierarchy
classification
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
Investments
classified
within
Level
3
have
significant
unobservable
inputs
used
by
the
Global
Valuation
Committee
in
determining
the
price
for
Fair
Valued
Investments.
Level
3
investments
include
equity
or
debt
issued
by
privately
held
companies
or
funds.
There
may
not
be
a
secondary
market,
and/or
there
are
a
limited
number
of
investors.
The
categorization
of
a
value
determined
for
financial
instruments
is
based
on
the
pricing
transparency
of
the
financial
instruments
and
is
not
necessarily
an
indication
of
the
risks
associated
with
investing
in
those
securities.
For
information
about
the
Fund’s
policy
regarding
valuation
of
financial
instruments,
refer
to
its
most
recent
financial
statements.
Certain
investments
of
the
Fund
were
fair
valued
using
net
asset
value
("NAV")
per
share
as
no
quoted
market
value
is
available
and
therefore
have
been
excluded
from
the
fair
value
hierarchy.
The
following
table
summarizes
the
Fund’s
financial
instruments
categorized
in
the
fair
value
hierarchy.
The
breakdown
of
the
Fund's
financial
instruments
into
major
categories
is
disclosed
in
the
Schedule
of
Investments
above.
Level
1
Level
2
Level
3
Total
Assets:
Investments:
Long-Term
Investments:
Common
Stocks:
Australia
.............................................
$
—
$
16,270,654
$
3
$
16,270,657
Austria
..............................................
—
600,560
—
600,560
Belgium
.............................................
—
1,729,991
—
1,729,991
Brazil
...............................................
—
105,364
—
105,364
Chile
...............................................
—
88,102
—
88,102
China
...............................................
57,525
1,391,035
—
1,448,560
Denmark
.............................................
680,704
4,847,782
—
5,528,486
Finland
..............................................
108,548
2,577,991
—
2,686,539
France
..............................................
167,977
21,490,993
—
21,658,970
Germany
............................................
539,529
16,955,100
—
17,494,629
Hong
Kong
...........................................
97,536
5,259,358
—
5,356,894
Ireland
..............................................
261,616
1,234,140
—
1,495,756
Israel
...............................................
431,135
792,980
—
1,224,115
Italy
................................................
—
4,284,715
—
4,284,715
Japan
...............................................
88,888
50,762,758
—
50,851,646
Jordan
..............................................
—
71,779
—
71,779
Luxembourg
..........................................
216,982
266,942
—
483,924
Macau
..............................................
—
241,057
—
241,057
Netherlands
...........................................
268,913
11,129,515
—
11,398,428
New
Zealand
..........................................
—
665,411
—
665,411
Norway
..............................................
196,173
1,039,697
—
1,235,870
Poland
..............................................
—
41,898
—
41,898
Portugal
.............................................
247,950
75,701
—
323,651
Russia
..............................................
—
137,869
—
137,869
Saudi
Arabia
..........................................
—
252,814
—
252,814
Singapore
............................................
85,368
2,012,993
—
2,098,361
BlackRock
International
Index
V.I.
Fund
13
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Level
1
Level
2
Level
3
Total
South
Africa
...........................................
$
—
$
572,940
$
—
$
572,940
Spain
...............................................
742,160
4,350,524
—
5,092,684
Sweden
.............................................
400,309
6,812,193
—
7,212,502
Switzerland
...........................................
263,276
19,763,673
—
20,026,949
Taiwan
..............................................
275,383
—
—
275,383
United
Kingdom
........................................
1,336,402
23,890,334
—
25,226,736
United
States
..........................................
246,948
2,591,535
—
2,838,483
Preferred
Stocks:
Germany
............................................
43,262
1,178,940
—
1,222,202
Right:
France
..............................................
—
5,490
—
5,490
Germany
............................................
9,498
—
—
9,498
Short-Term
Securities
.......................................
203,398
—
—
203,398
$
6,969,480
$
203,492,828
$
3
$
210,462,311
Investments
Valued
at
NAV
(a)
......................................
1,628,928
$
—
$
212,091,239
$
—
Derivative
Financial
Instruments
(b)
Assets:
Equity
contracts
...........................................
$
2,627
$
—
$
—
$
2,627
Liabilities:
Equity
contracts
...........................................
(16,069)
—
—
(16,069)
$
(13,442)
$
—
$
—
$
(13,442)
(a)
Certain
investments
of
the
Fund
were
fair
valued
using
NAV
per
share
as
no
quoted
market
value
is
available
and
therefore
have
been
excluded
from
the
fair
value
hierarchy.
(b)
Derivative
financial
instruments
are
futures
contracts.
Futures
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.