BlackRock
Small
Cap
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
—
99.4%
Aerospace
&
Defense
—
0.7%
AAR
Corp.
(a)
......................
4,185
$
135,720
Aerojet
Rocketdyne
Holdings,
Inc.
.......
8,802
383,327
AeroVironment
,
Inc.
(a)
................
2,653
229,007
Astronics
Corp.
(a)
...................
3,006
42,264
Byrna
Technologies,
Inc.
(a)
.............
2,170
47,436
Ducommun,
Inc.
(a)
..................
1,198
60,319
Kaman
Corp.
.....................
3,296
117,568
Kratos
Defense
&
Security
Solutions,
Inc.
(a)
.
14,634
326,485
Maxar
Technologies,
Inc.
(b)
............
8,556
242,306
Moog,
Inc.,
Class
A
.................
3,453
263,222
National
Presto
Industries,
Inc.
..........
667
54,747
PAE,
Inc.
(a)
.......................
8,363
50,011
Park
Aerospace
Corp.
................
2,399
32,818
Parsons
Corp.
(a)
....................
3,140
106,007
Triumph
Group,
Inc.
(a)
................
7,498
139,688
Vectrus
,
Inc.
(a)
.....................
1,336
67,174
2,298,099
Air
Freight
&
Logistics
—
0.3%
Air
Transport
Services
Group,
Inc.
(a)
......
7,110
183,509
Atlas
Air
Worldwide
Holdings,
Inc.
(a)(b)
.....
3,434
280,489
Echo
Global
Logistics,
Inc.
(a)
...........
3,192
152,290
Forward
Air
Corp.
..................
3,243
269,234
Hub
Group,
Inc.,
Class
A
(a)
.............
3,890
267,438
Radiant
Logistics,
Inc.
(a)
..............
5,513
35,228
1,188,188
Airlines
—
0.4%
(a)
Allegiant
Travel
Co.
.................
1,808
353,428
Frontier
Group
Holdings,
Inc.
(b)
..........
4,153
65,576
Hawaiian
Holdings,
Inc.
(b)
.............
5,834
126,364
Mesa
Air
Group,
Inc.
.................
4,257
32,609
SkyWest,
Inc.
.....................
5,862
289,231
Spirit
Airlines,
Inc.
..................
11,730
304,276
Sun
Country
Airlines
Holdings,
Inc.,
(Acquired
06/25/21,
cost
$
79,814)
(c)
...........
2,068
69,361
1,240,845
Auto
Components
—
1.3%
Adient
plc
(a)
.......................
11,149
462,126
American
Axle
&
Manufacturing
Holdings,
Inc.
(a)
13,276
116,962
Cooper-Standard
Holdings,
Inc.
(a)
........
2,016
44,171
Dana,
Inc.
........................
16,868
375,144
Dorman
Products,
Inc.
(a)
..............
3,144
297,642
Fox
Factory
Holding
Corp.
(a)
............
4,972
718,653
Gentherm
,
Inc.
(a)
...................
3,914
316,760
Goodyear
Tire
&
Rubber
Co.
(The)
(a)
......
32,328
572,206
LCI
Industries
.....................
2,954
397,697
Modine
Manufacturing
Co.
(a)
...........
6,092
69,022
Motorcar
Parts
of
America,
Inc.
(a)
........
1,969
38,396
Patrick
Industries,
Inc.
...............
2,629
218,996
Standard
Motor
Products,
Inc.
..........
2,423
105,909
Stoneridge,
Inc.
(a)
...................
3,097
63,148
Tenneco,
Inc.,
Class
A
(a)
..............
8,431
120,310
Visteon
Corp.
(a)
....................
3,312
312,620
XL
Fleet
Corp.,
Class
A
(a)
..............
4,574
28,176
XPEL,
Inc.
(a)(d)
.....................
2,154
163,402
4,421,340
Automobiles
—
0.2%
Arcimoto
,
Inc.
(a)
....................
3,266
37,330
Canoo
,
Inc.,
Class
A
(a)(b)
..............
12,520
96,279
Fisker
,
Inc.,
Class
A
(a)
................
18,934
277,383
Lordstown
Motors
Corp.,
Class
A
(a)(b)
......
11,313
90,278
Winnebago
Industries,
Inc.
............
3,707
268,572
Security
Shares
Shares
Value
Automobiles
(continued)
Workhorse
Group,
Inc.
(a)(b)
.............
14,743
$
112,784
882,626
Banks
—
8.0%
1st
Source
Corp.
...................
1,907
90,087
Allegiance
Bancshares,
Inc.
............
2,392
91,255
Altabancorp
......................
2,152
95,032
Amalgamated
Financial
Corp.
..........
1,859
29,409
Amerant
Bancorp,
Inc.
(a)
..............
2,498
61,801
American
National
Bankshares
,
Inc.
......
1,120
37,005
Ameris
Bancorp
(b)
...................
7,933
411,564
Arrow
Financial
Corp.
................
1,770
60,817
Associated
Banc-Corp.
...............
17,554
376,007
Atlantic
Capital
Bancshares,
Inc.
(a)
.......
2,254
59,708
Atlantic
Union
Bankshares
Corp.
........
9,029
332,719
Banc
of
California,
Inc.
(b)
..............
5,374
99,365
BancFirst
Corp.
....................
2,049
123,186
Bancorp,
Inc.
(The)
(a)(b)
...............
6,370
162,117
BancorpSouth
Bank
(b)
................
11,914
354,799
Bank
First
Corp.
...................
821
58,184
Bank
of
Marin
Bancorp
...............
1,812
68,403
Bank
of
NT
Butterfield
&
Son
Ltd.
(The)
....
5,973
212,101
BankUnited
,
Inc.
...................
11,113
464,746
Banner
Corp.
.....................
4,086
225,588
Bar
Harbor
Bankshares
..............
1,970
55,258
Berkshire
Hills
Bancorp,
Inc.
...........
5,272
142,239
Blue
Ridge
Bankshares
,
Inc.
...........
2,069
36,394
Brookline
Bancorp,
Inc.
...............
9,436
143,993
Bryn
Mawr
Bank
Corp.
...............
2,411
110,785
Business
First
Bancshares,
Inc.
.........
2,380
55,668
Byline
Bancorp,
Inc.
.................
2,818
69,210
Cadence
BanCorp
..................
14,240
312,710
Cambridge
Bancorp
.................
824
72,512
Camden
National
Corp.
..............
1,734
83,059
Capital
Bancorp,
Inc.
................
1,075
25,865
Capital
City
Bank
Group,
Inc.
...........
1,826
45,175
Capstar
Financial
Holdings,
Inc.
.........
2,443
51,889
Carter
Bankshares
,
Inc.
(a)
.............
3,048
43,343
Cathay
General
Bancorp
(b)
.............
8,831
365,515
CBTX,
Inc.
(b)
......................
2,094
55,240
Central
Pacific
Financial
Corp.
..........
3,251
83,486
Century
Bancorp,
Inc.,
Class
A
..........
369
42,524
CIT
Group,
Inc.
....................
11,685
607,036
Citizens
&
Northern
Corp.
.............
1,779
44,938
City
Holding
Co.
...................
1,847
143,900
Civista
Bancshares,
Inc.
..............
1,574
36,564
CNB
Financial
Corp.
.................
2,069
50,359
Coastal
Financial
Corp.
(a)
.............
1,114
35,492
Columbia
Banking
System,
Inc.
.........
8,586
326,182
Community
Bank
System,
Inc.
..........
6,232
426,393
Community
Trust
Bancorp,
Inc.
.........
1,813
76,327
ConnectOne
Bancorp,
Inc.
............
4,390
131,744
CrossFirst
Bankshares
,
Inc.
(a)
...........
5,614
72,982
Customers
Bancorp,
Inc.
(a)
.............
3,518
151,344
CVB
Financial
Corp.
.................
15,419
314,085
Dime
Community
Bancshares,
Inc.
.......
4,230
138,152
Eagle
Bancorp,
Inc.
.................
3,699
212,693
Eastern
Bankshares
,
Inc.
(b)
............
20,217
410,405
Enterprise
Bancorp,
Inc.
..............
1,148
41,271
Enterprise
Financial
Services
Corp.
......
4,235
191,761
Equity
Bancshares,
Inc.,
Class
A
........
1,574
52,540
Farmers
National
Banc
Corp.
...........
3,365
52,864
FB
Financial
Corp.
(b)
.................
3,921
168,132
Fidelity
D&D
Bancorp,
Inc.
(b)
...........
528
26,627
Financial
Institutions,
Inc.
.............
1,836
56,273
First
Bancorp
(b)
....................
3,236
139,180
BlackRock
Small
Cap
Index
V.I.
Fund
3
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Banks
(continued)
First
BanCorp
(e)
....................
23,992
$
315,495
First
Bancorp,
Inc.
(The)
..............
1,388
40,446
First
Bancshares,
Inc.
(The)
............
2,417
93,731
First
Bank
........................
2,179
30,702
First
Busey
Corp.
...................
5,971
147,066
First
Commonwealth
Financial
Corp.
......
9,378
127,822
First
Community
Bankshares
,
Inc.
.......
1,976
62,679
First
Financial
Bancorp
...............
11,009
257,721
First
Financial
Bankshares
,
Inc.
.........
15,286
702,392
First
Financial
Corp.
.................
1,440
60,552
First
Foundation,
Inc.
................
4,749
124,899
First
Internet
Bancorp
................
1,288
40,160
First
Interstate
BancSystem
,
Inc.,
Class
A
(b)
.
4,717
189,906
First
Merchants
Corp.
................
6,321
264,471
First
Mid
Bancshares,
Inc.
.............
1,936
79,492
First
Midwest
Bancorp,
Inc.
............
13,589
258,327
First
of
Long
Island
Corp.
(The)
.........
2,616
53,890
Five
Star
Bancorp
..................
631
15,106
Flushing
Financial
Corp.
..............
3,679
83,145
Fulton
Financial
Corp.
................
18,965
289,785
German
American
Bancorp,
Inc.
.........
3,058
118,131
Glacier
Bancorp,
Inc.
................
11,281
624,403
Great
Southern
Bancorp,
Inc.
...........
1,246
68,293
Great
Western
Bancorp,
Inc.
...........
6,291
205,967
Guaranty
Bancshares,
Inc.
............
1,095
39,256
Hancock
Whitney
Corp.
..............
10,322
486,373
Hanmi
Financial
Corp.
...............
3,597
72,156
HarborOne
Bancorp,
Inc.
.............
5,835
81,923
HBT
Financial,
Inc.
..................
1,397
21,723
Heartland
Financial
USA,
Inc.
..........
4,809
231,217
Heritage
Commerce
Corp.
.............
6,602
76,781
Heritage
Financial
Corp.
..............
4,419
112,685
Hilltop
Holdings,
Inc.
.................
7,374
240,909
Home
BancShares
,
Inc.
..............
18,195
428,128
HomeTrust
Bancshares,
Inc.
...........
1,769
49,497
Hope
Bancorp,
Inc.
.................
14,042
202,766
Horizon
Bancorp,
Inc.
................
5,134
93,285
Howard
Bancorp,
Inc.
(a)
...............
1,869
37,903
Independent
Bank
Corp.
..............
6,428
353,145
Independent
Bank
Group,
Inc.
..........
4,466
317,265
International
Bancshares
Corp.
.........
6,385
265,871
Investors
Bancorp,
Inc.
...............
27,250
411,747
Lakeland
Bancorp,
Inc.
(b)
..............
6,113
107,772
Lakeland
Financial
Corp.
(b)
............
2,815
200,541
Live
Oak
Bancshares,
Inc.
(b)
............
3,760
239,249
Macatawa
Bank
Corp.
...............
3,277
26,314
Mercantile
Bank
Corp.
...............
1,800
57,654
Metrocity
Bankshares
,
Inc.
............
2,420
50,747
Metropolitan
Bank
Holding
Corp.
(a)
.......
951
80,169
Mid
Penn
Bancorp,
Inc.
...............
1,319
36,338
Midland
States
Bancorp,
Inc.
...........
2,410
59,599
MidWestOne
Financial
Group,
Inc.
(b)
......
1,582
47,713
MVB
Financial
Corp.
................
1,269
54,351
National
Bank
Holdings
Corp.,
Class
A
....
3,391
137,268
NBT
Bancorp,
Inc.
..................
5,033
181,792
Nicolet
Bankshares
,
Inc.
(a)
.............
1,078
79,966
Northrim
BanCorp
,
Inc.
...............
624
26,526
OceanFirst
Financial
Corp.
............
7,240
155,008
OFG
Bancorp
(e)
....................
5,764
145,368
Old
National
Bancorp
................
19,684
333,644
Old
Second
Bancorp,
Inc.
.............
3,011
39,324
Origin
Bancorp,
Inc.
.................
2,561
108,458
Orrstown
Financial
Services,
Inc.
........
1,383
32,362
Pacific
Premier
Bancorp,
Inc.
...........
10,249
424,719
Park
National
Corp.
(b)
................
1,693
206,461
Security
Shares
Shares
Value
Banks
(continued)
Peapack
-Gladstone
Financial
Corp.
......
2,078
$
69,322
Peoples
Bancorp,
Inc.
...............
3,202
101,215
Peoples
Financial
Services
Corp.
........
912
41,560
Preferred
Bank
....................
1,661
110,755
Primis
Financial
Corp.
................
2,537
36,685
QCR
Holdings,
Inc.
.................
1,775
91,306
RBB
Bancorp
.....................
1,698
42,807
Red
River
Bancshares,
Inc.
............
645
32,153
Reliant
Bancorp,
Inc.
................
1,664
52,566
Renasant
Corp.
....................
6,498
234,253
Republic
Bancorp,
Inc.,
Class
A
.........
1,050
53,183
Republic
First
Bancorp,
Inc.
(a)
...........
5,329
16,413
S&T
Bancorp,
Inc.
..................
4,105
120,974
Sandy
Spring
Bancorp,
Inc.
............
5,436
249,078
Seacoast
Banking
Corp.
of
Florida
.......
6,044
204,348
ServisFirst
Bancshares,
Inc.
(b)
..........
5,876
457,153
Sierra
Bancorp
(b)
...................
1,886
45,792
Silvergate
Capital
Corp.,
Class
A
(a)
.......
2,731
315,431
Simmons
First
National
Corp.,
Class
A
....
12,813
378,752
SmartFinancial
,
Inc.
.................
1,683
43,506
South
Plains
Financial,
Inc.
............
1,349
32,889
Southern
First
Bancshares,
Inc.
(a)
........
985
52,697
Southside
Bancshares,
Inc.
............
3,717
142,324
SouthState
Corp.
(b)
..................
8,221
613,862
Spirit
of
Texas
Bancshares,
Inc.
.........
1,450
35,090
Stock
Yards
Bancorp,
Inc.
.............
2,835
166,273
Summit
Financial
Group,
Inc.
...........
1,524
37,353
Texas
Capital
Bancshares,
Inc.
(a)
........
6,050
363,121
Tompkins
Financial
Corp.
.............
1,649
133,421
Towne
Bank
......................
7,870
244,836
TriCo
Bancshares
..................
3,244
140,790
TriState
Capital
Holdings,
Inc.
(a)
.........
3,706
78,382
Triumph
Bancorp,
Inc.
(a)
..............
2,770
277,360
Trustmark
Corp.
...................
7,317
235,754
UMB
Financial
Corp.
................
5,106
493,801
United
Bankshares
,
Inc.
(b)
.............
14,708
535,077
United
Community
Banks,
Inc.
..........
9,592
314,809
Univest
Financial
Corp.
...............
3,341
91,510
Valley
National
Bancorp
..............
47,146
627,513
Veritex
Holdings,
Inc.
................
5,521
217,307
Washington
Trust
Bancorp,
Inc.
.........
1,991
105,483
WesBanco
,
Inc.
....................
7,392
251,919
West
BanCorp
,
Inc.
.................
2,084
62,583
Westamerica
BanCorp
(b)
..............
3,052
171,706
27,847,668
Beverages
—
0.4%
Celsius
Holdings,
Inc.
(a)
...............
6,347
571,801
Coca-Cola
Consolidated,
Inc.
...........
561
221,135
Duckhorn
Portfolio,
Inc.
(The)
(a)
.........
2,407
55,096
MGP
Ingredients,
Inc.
................
1,711
111,386
National
Beverage
Corp.
(b)
.............
2,763
145,030
NewAge
,
Inc.
(a)
....................
16,634
23,122
Primo
Water
Corp.
..................
18,510
290,977
1,418,547
Biotechnology
—
9.7%
4D
Molecular
Therapeutics,
Inc.
(a)(b)
.......
2,466
66,508
89bio,
Inc.
(a)(b)
.....................
1,426
27,935
ACADIA
Pharmaceuticals,
Inc.
(a)
.........
14,276
237,124
Acumen
Pharmaceuticals,
Inc.
(a)
.........
1,128
16,762
Adagio
Therapeutics,
Inc.
(a)
............
2,486
105,009
Adicet
Bio,
Inc.
(a)
...................
2,495
19,561
Adverum
Biotechnologies,
Inc.
(a)
.........
8,222
17,842
Aeglea
BioTherapeutics
,
Inc.
(a)
..........
3,967
31,538
Aerovate
Therapeutics,
Inc.
(a)
...........
1,186
24,882
BlackRock
Small
Cap
Index
V.I.
Fund
4
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Biotechnology
(continued)
Affimed
NV
(a)(e)
.....................
14,160
$
87,509
Agenus,
Inc.
(a)
.....................
23,514
123,448
Agios
Pharmaceuticals,
Inc.
(a)
..........
6,941
320,327
Akebia
Therapeutics,
Inc.
(a)(b)
...........
20,550
59,184
Akero
Therapeutics,
Inc.
(a)
.............
3,067
68,547
Akouos
,
Inc.
(a)
.....................
2,996
34,784
Albireo
Pharma,
Inc.
(a)
................
1,831
57,127
Aldeyra
Therapeutics,
Inc.
(a)
............
5,789
50,827
Alector
,
Inc.
(a)
.....................
6,871
156,796
Aligos
Therapeutics,
Inc.
(a)(b)
............
2,238
34,711
Alkermes
plc
(a)
.....................
18,794
579,607
Allakos
,
Inc.
(a)
.....................
4,169
441,372
Allogene
Therapeutics,
Inc.
(a)
...........
8,111
208,453
Allovir
,
Inc.
(a)
......................
3,659
91,695
Alpine
Immune
Sciences,
Inc.
(a)
.........
1,385
14,778
Altimmune
,
Inc.
(a)
...................
4,665
52,761
ALX
Oncology
Holdings,
Inc.
(a)
..........
2,135
157,691
Amicus
Therapeutics,
Inc.
(a)(b)
...........
30,944
295,515
AnaptysBio
,
Inc.
(a)
..................
2,300
62,376
Anavex
Life
Sciences
Corp.
(a)
...........
7,676
137,784
Anika
Therapeutics,
Inc.
(a)
.............
1,778
75,672
Annexon
,
Inc.
(a)(b)
...................
3,719
69,211
Apellis
Pharmaceuticals,
Inc.
(a)
..........
7,747
255,341
Applied
Molecular
Transport,
Inc.
(a)
.......
2,742
70,936
Applied
Therapeutics,
Inc.
(a)
............
2,266
37,616
AquaBounty
Technologies,
Inc.
(a)(b)
.......
6,260
25,478
Arbutus
Biopharma
Corp.
(a)(e)
...........
9,316
39,966
Arcturus
Therapeutics
Holdings,
Inc.
(a)
.....
2,484
118,686
Arcus
Biosciences,
Inc.
(a)
..............
5,286
184,323
Arcutis
Biotherapeutics
,
Inc.
(a)
..........
3,409
81,441
Ardelyx
,
Inc.
(a)
.....................
11,313
14,933
Arena
Pharmaceuticals,
Inc.
(a)
..........
7,151
425,842
Arrowhead
Pharmaceuticals,
Inc.
(a)
.......
11,928
744,665
Atara
Biotherapeutics
,
Inc.
(a)(b)
..........
9,725
174,077
Athenex
,
Inc.
(a)
....................
11,118
33,465
Athersys
,
Inc.
(a)(b)
...................
23,574
31,353
Atossa
Therapeutics,
Inc.
(a)
............
13,954
45,490
Atreca
,
Inc.,
Class
A
(a)
................
2,293
14,285
Avid
Bioservices
,
Inc.
(a)
...............
7,002
151,033
Avidity
Biosciences,
Inc.
(a)
.............
4,432
109,160
Avita
Medical,
Inc.
(a)
.................
2,848
50,467
Avrobio
,
Inc.
(a)
.....................
5,346
29,831
Beam
Therapeutics,
Inc.
(a)
.............
5,866
510,401
Beyondspring
,
Inc.
(a)(b)
................
2,636
41,543
BioAtla
,
Inc.
(a)
.....................
1,826
53,757
BioCryst
Pharmaceuticals,
Inc.
(a)(b)
.......
21,207
304,745
Biohaven
Pharmaceutical
Holding
Co.
Ltd.
(a)
.
6,529
906,943
Biomea
Fusion,
Inc.
(a)
................
1,029
12,317
Bioxcel
Therapeutics,
Inc.
(a)
............
1,924
58,393
Black
Diamond
Therapeutics,
Inc.
(a)
......
3,206
27,123
Bluebird
Bio,
Inc.
(a)
..................
8,056
153,950
Blueprint
Medicines
Corp.
(a)
............
6,875
706,819
Bolt
Biotherapeutics
,
Inc.
(a)
............
2,693
34,066
Bridgebio
Pharma,
Inc.
(a)
..............
12,664
593,562
Brooklyn
ImmunoTherapeutics
,
Inc.
(a)
.....
2,839
26,403
C4
Therapeutics,
Inc.
(a)
...............
4,546
203,115
Cardiff
Oncology,
Inc.
(a)
...............
4,313
28,725
CareDx
,
Inc.
(a)
.....................
5,969
378,256
Caribou
Biosciences,
Inc.
(a)
............
2,257
53,875
Catalyst
Pharmaceuticals,
Inc.
(a)
.........
10,939
57,977
Celcuity
,
Inc.
(a)
.....................
950
17,100
Celldex
Therapeutics,
Inc.
(a)
............
5,411
292,140
CEL-SCI
Corp.
(a)
...................
3,808
41,850
Century
Therapeutics,
Inc.
(a)
...........
1,390
34,972
Cerevel
Therapeutics
Holdings,
Inc.
(a)
.....
4,717
139,151
Security
Shares
Shares
Value
Biotechnology
(continued)
ChemoCentryx
,
Inc.
(a)
................
6,276
$
107,320
Chimerix
,
Inc.
(a)
....................
7,569
46,852
Chinook
Therapeutics,
Inc.
(a)
...........
3,751
47,863
Clene
,
Inc.
(a)(b)
.....................
2,729
18,639
Clovis
Oncology,
Inc.
(a)
...............
12,553
55,986
Codiak
Biosciences,
Inc.
(a)
.............
1,873
30,586
Cogent
Biosciences,
Inc.
(a)
.............
4,432
37,273
Coherus
Biosciences,
Inc.
(a)
............
7,507
120,637
Cortexyme
,
Inc.
(a)
...................
2,380
218,151
Crinetics
Pharmaceuticals,
Inc.
(a)
........
4,351
91,589
Cue
Biopharma,
Inc.
(a)
...............
3,849
56,080
Cullinan
Oncology,
Inc.
(a)
..............
3,045
68,726
Curis
,
Inc.
(a)
.......................
10,330
80,884
Cytokinetics,
Inc.
(a)
..................
9,270
331,310
CytomX
Therapeutics,
Inc.
(a)
...........
6,956
35,406
Day
One
Biopharmaceuticals,
Inc.
(a)
......
1,297
30,778
Deciphera
Pharmaceuticals,
Inc.
(a)
.......
4,558
154,881
Denali
Therapeutics,
Inc.
(a)(b)
...........
10,651
537,343
DermTech
,
Inc.
(a)
...................
2,827
90,775
Design
Therapeutics,
Inc.
(a)
............
1,607
23,607
Dicerna
Pharmaceuticals,
Inc.
(a)(b)
........
8,306
167,449
Dynavax
Technologies
Corp.
(a)
..........
12,356
237,359
Dyne
Therapeutics,
Inc.
(a)
.............
3,582
58,172
Eagle
Pharmaceuticals,
Inc.
(a)
..........
1,442
80,435
Editas
Medicine,
Inc.
(a)
...............
8,048
330,612
Eiger
BioPharmaceuticals
,
Inc.
(a)(b)
.......
4,180
27,922
Eliem
Therapeutics,
Inc.
(a)
.............
830
14,923
Emergent
BioSolutions
,
Inc.
(a)
..........
5,844
292,609
Enanta
Pharmaceuticals,
Inc.
(a)
.........
2,347
133,333
Epizyme
,
Inc.
(a)
....................
10,238
52,419
Erasca
,
Inc.
(a)
.....................
2,433
51,628
Evelo
Biosciences,
Inc.
(a)
..............
3,622
25,499
Fate
Therapeutics,
Inc.
(a)(b)
.............
9,598
568,873
FibroGen
,
Inc.
(a)
....................
9,991
102,108
Finch
Therapeutics
Group,
Inc.
(a)
........
903
11,739
Flexion
Therapeutics,
Inc.
(a)
............
5,606
34,197
Foghorn
Therapeutics,
Inc.
(a)(b)
..........
2,333
32,499
Forma
Therapeutics
Holdings,
Inc.
(a)
......
4,122
95,589
Forte
Biosciences,
Inc.
(a)
..............
1,346
3,984
Fortress
Biotech,
Inc.
(a)
...............
7,258
23,371
Frequency
Therapeutics,
Inc.
(a)
..........
4,360
30,782
G1
Therapeutics,
Inc.
(a)
...............
4,694
62,993
Gemini
Therapeutics,
Inc.
(a)
............
2,613
10,556
Generation
Bio
Co.
(a)
................
5,377
134,801
Geron
Corp.
(a)
.....................
38,060
52,142
Global
Blood
Therapeutics,
Inc.
(a)
........
7,139
181,902
Gossamer
Bio,
Inc.
(a)
................
7,317
91,975
Graphite
Bio,
Inc.
(a)(b)
................
1,912
31,338
Greenwich
Lifesciences,
Inc.
(a)
..........
481
18,793
Gritstone
Oncology,
Inc.
(a)
.............
5,146
55,577
GT
Biopharma,
Inc.
(a)
................
2,844
19,169
Halozyme
Therapeutics,
Inc.
(a)
..........
16,559
673,620
Harpoon
Therapeutics,
Inc.
(a)
...........
2,231
17,625
Heron
Therapeutics,
Inc.
(a)
.............
11,355
121,385
Homology
Medicines,
Inc.
(a)
............
4,731
37,233
Hookipa
Pharma,
Inc.
(a)
...............
2,778
16,362
Humanigen
,
Inc.
(a)
..................
5,350
31,725
iBio
,
Inc.
(a)(b)
......................
26,532
28,124
Icosavax
,
Inc.
(a)
....................
1,574
46,575
Ideaya
Biosciences,
Inc.
(a)
.............
3,348
85,340
IGM
Biosciences,
Inc.
(a)(b)
.............
935
61,486
Imago
Biosciences,
Inc.
(a)
.............
1,147
22,974
Immuneering
Corp.,
Class
A
(a)
..........
973
25,833
Immunic
,
Inc.
(a)
....................
1,850
16,372
ImmunityBio
,
Inc.
(a)
..................
7,977
77,696
BlackRock
Small
Cap
Index
V.I.
Fund
5
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Biotechnology
(continued)
ImmunoGen
,
Inc.
(a)
..................
23,040
$
130,637
Immunovant
,
Inc.
(a)
..................
3,832
33,300
Impel
Neuropharma
,
Inc.
(a)
.............
633
7,710
Infinity
Pharmaceuticals,
Inc.
(a)(b)
.........
10,441
35,708
Inhibrx
,
Inc.
(a)
.....................
3,329
110,889
Inovio
Pharmaceuticals,
Inc.
(a)(b)
.........
24,662
176,580
Inozyme
Pharma,
Inc.
(a)
..............
2,201
25,510
Insmed
,
Inc.
(a)
.....................
13,531
372,644
Instil
Bio,
Inc.
(a)(b)
...................
2,079
37,162
Intellia
Therapeutics,
Inc.
(a)
............
8,097
1,086,213
Intercept
Pharmaceuticals,
Inc.
(a)
........
3,157
46,881
Invitae
Corp.
(a)(b)
....................
23,553
669,612
Ironwood
Pharmaceuticals,
Inc.
(a)
........
17,328
226,304
iTeos
Therapeutics,
Inc.
(a)
.............
2,399
64,773
IVERIC
bio,
Inc.
(a)
...................
12,282
199,460
Janux
Therapeutics,
Inc.
(a)
.............
1,557
33,678
Jounce
Therapeutics,
Inc.
(a)
............
3,932
29,215
Kadmon
Holdings,
Inc.
(a)
..............
20,137
175,393
KalVista
Pharmaceuticals,
Inc.
(a)
.........
2,212
38,599
Karuna
Therapeutics,
Inc.
(a)
............
2,557
312,798
Karyopharm
Therapeutics,
Inc.
(a)
........
7,935
46,182
Keros
Therapeutics,
Inc.
(a)
.............
1,668
65,986
Kezar
Life
Sciences,
Inc.
(a)
.............
4,027
34,793
Kiniksa
Pharmaceuticals
Ltd.,
Class
A
(a)
....
3,310
37,701
Kinnate
Biopharma,
Inc.
(a)
.............
3,029
69,728
Kodiak
Sciences,
Inc.
(a)
...............
3,965
380,561
Kronos
Bio,
Inc.
(a)(b)
.................
4,630
97,045
Krystal
Biotech,
Inc.
(a)
................
2,139
111,677
Kura
Oncology,
Inc.
(a)(b)
...............
7,388
138,377
Kymera
Therapeutics,
Inc.
(a)
............
4,043
237,486
Lexicon
Pharmaceuticals,
Inc.
(a)
.........
8,097
38,947
Ligand
Pharmaceuticals,
Inc.
(a)
..........
1,775
247,293
Lineage
Cell
Therapeutics,
Inc.
(a)(b)
.......
14,464
36,449
Lyell
Immunopharma
,
Inc.
(a)
............
2,781
41,159
MacroGenics
,
Inc.
(a)
.................
7,298
152,820
Madrigal
Pharmaceuticals,
Inc.
(a)(b)
.......
1,354
108,036
Magenta
Therapeutics,
Inc.
(a)
...........
3,568
25,975
MannKind
Corp.
(a)
..................
29,056
126,394
MaxCyte
,
Inc.
(a)
....................
1,844
22,515
MEI
Pharma,
Inc.
(a)
..................
10,853
29,954
MeiraGTx
Holdings
plc
(a)
..............
3,553
46,829
Mersana
Therapeutics,
Inc.
(a)
...........
8,214
77,458
MiMedx
Group,
Inc.
(a)
................
13,250
80,295
Mirum
Pharmaceuticals,
Inc.
(a)
..........
116
2,311
Molecular
Templates,
Inc.
(a)
............
4,560
30,598
Monte
Rosa
Therapeutics,
Inc.
(a)
.........
1,362
30,345
Morphic
Holding,
Inc.
(a)
...............
2,473
140,071
Mustang
Bio,
Inc.
(a)
..................
10,141
27,279
Myriad
Genetics,
Inc.
(a)
...............
9,133
294,905
Neoleukin
Therapeutics,
Inc.
(a)
..........
3,695
26,715
NexImmune
,
Inc.
(a)
..................
1,414
21,408
Nkarta
,
Inc.
(a)
......................
1,683
46,804
Nurix
Therapeutics,
Inc.
(a)
.............
3,736
111,931
Nuvalent
,
Inc.,
Class
A
(a)
..............
1,260
28,413
Ocugen
,
Inc.
(a)
.....................
22,025
158,139
Olema
Pharmaceuticals,
Inc.
(a)
..........
2,965
81,715
Omega
Therapeutics,
Inc.
(a)
............
870
16,399
Oncocyte
Corp.
(a)
...................
8,559
30,470
Oncorus
,
Inc.
(a)
....................
2,436
22,752
Oncternal
Therapeutics,
Inc.
(a)(b)
.........
5,279
22,013
OPKO
Health,
Inc.
(a)
.................
45,856
167,374
Organogenesis
Holdings,
Inc.
(a)
.........
4,549
64,778
ORIC
Pharmaceuticals,
Inc.
(a)
..........
3,520
73,603
Outlook
Therapeutics,
Inc.
(a)
............
10,446
22,668
Oyster
Point
Pharma,
Inc.
(a)
............
1,325
15,701
Security
Shares
Shares
Value
Biotechnology
(continued)
Passage
Bio,
Inc.
(a)
.................
4,476
$
44,581
PMV
Pharmaceuticals,
Inc.
(a)
...........
3,129
93,244
Portage
Biotech,
Inc.
(a)(e)
..............
430
8,738
Poseida
Therapeutics,
Inc.
(a)
...........
2,760
20,120
Praxis
Precision
Medicines,
Inc.
(a)
........
3,812
70,484
Precigen
,
Inc.
(a)
....................
11,313
56,452
Precision
BioSciences
,
Inc.
(a)
...........
5,155
59,489
Prelude
Therapeutics,
Inc.
(a)
............
1,185
37,031
Prometheus
Biosciences,
Inc.
(a)
.........
1,348
31,961
Protagonist
Therapeutics,
Inc.
(a)
.........
4,931
87,377
Prothena
Corp.
plc
(a)(e)
................
4,067
289,692
PTC
Therapeutics,
Inc.
(a)
..............
8,285
308,285
Puma
Biotechnology,
Inc.
(a)
............
2,972
20,834
Radius
Health,
Inc.
(a)
................
5,987
74,299
RAPT
Therapeutics,
Inc.
(a)
.............
2,143
66,540
Recursion
Pharmaceuticals,
Inc.,
Class
A
(a)
.
3,311
76,186
REGENXBIO,
Inc.
(a)
.................
4,754
199,288
Relay
Therapeutics,
Inc.
(a)
.............
6,982
220,142
Reneo
Pharmaceuticals,
Inc.
(a)(b)
.........
1,179
8,784
Replimune
Group,
Inc.
(a)
..............
3,359
99,561
REVOLUTION
Medicines,
Inc.
(a)
.........
7,084
194,881
Rhythm
Pharmaceuticals,
Inc.
(a)
.........
5,254
68,617
Rigel
Pharmaceuticals,
Inc.
(a)
...........
19,733
71,631
Rocket
Pharmaceuticals,
Inc.
(a)
..........
4,881
145,893
Rubius
Therapeutics,
Inc.
(a)
............
5,378
96,159
Sana
Biotechnology,
Inc.
(a)
.............
10,160
228,803
Sangamo
Therapeutics,
Inc.
(a)
..........
13,682
123,275
Scholar
Rock
Holding
Corp.
(a)(b)
.........
3,255
107,480
Selecta
Biosciences,
Inc.
(a)
............
11,413
47,478
Sensei
Biotherapeutics
,
Inc.
(a)
..........
1,776
18,683
Seres
Therapeutics,
Inc.
(a)
.............
8,301
57,775
Sesen
Bio,
Inc.
(a)
...................
20,390
16,173
Shattuck
Labs,
Inc.
(a)
................
3,173
64,666
Sigilon
Therapeutics,
Inc.
(a)
............
863
4,876
Silverback
Therapeutics,
Inc.
(a)
..........
2,413
24,082
Solid
Biosciences,
Inc.
(a)
..............
7,112
16,998
Sorrento
Therapeutics,
Inc.
(a)(b)
..........
32,519
248,120
Spectrum
Pharmaceuticals,
Inc.
(a)
........
18,396
40,103
Spero
Therapeutics,
Inc.
(a)
.............
2,739
50,425
SpringWorks
Therapeutics,
Inc.
(a)
........
3,482
220,898
Spruce
Biosciences,
Inc.
(a)
.............
1,836
11,034
SQZ
Biotechnologies
Co.
(a)
............
2,715
39,150
Stoke
Therapeutics,
Inc.
(a)
.............
2,277
57,927
Summit
Therapeutics,
Inc.
(a)
............
2,681
13,432
Surface
Oncology,
Inc.
(a)
..............
3,969
30,045
Sutro
Biopharma,
Inc.
(a)
...............
5,172
97,699
Syndax
Pharmaceuticals,
Inc.
(a)
.........
5,363
102,487
Syros
Pharmaceuticals,
Inc.
(a)
..........
7,611
34,021
Talaris
Therapeutics,
Inc.
(a)
............
1,062
14,401
Taysha
Gene
Therapies,
Inc.
(a)(b)
.........
2,655
49,436
TCR2
Therapeutics,
Inc.
(a)
.............
3,840
32,678
Tenaya
Therapeutics,
Inc.
(a)
............
1,639
33,845
TG
Therapeutics,
Inc.
(a)
...............
15,015
499,699
Tonix
Pharmaceuticals
Holding
Corp.
(a)(b)
...
38,965
23,422
Travere
Therapeutics,
Inc.
(a)
............
6,860
166,355
Trevena,
Inc.
(a)
.....................
19,506
23,992
Trillium
Therapeutics,
Inc.
(a)(b)
...........
11,667
204,873
Turning
Point
Therapeutics,
Inc.
(a)
........
5,485
364,369
Twist
Bioscience
Corp.
(a)
..............
5,540
592,614
UroGen
Pharma
Ltd.
(a)
...............
1,979
33,287
Vanda
Pharmaceuticals,
Inc.
(a)
..........
6,350
108,839
Vaxart
,
Inc.
(a)
......................
14,248
113,272
Vaxcyte
,
Inc.
(a)
.....................
4,741
120,279
VBI
Vaccines,
Inc.
(a)(b)
................
20,581
64,007
Vera
Therapeutics,
Inc.
(a)
..............
831
14,418
BlackRock
Small
Cap
Index
V.I.
Fund
6
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Biotechnology
(continued)
Veracyte
,
Inc.
(a)
....................
8,004
$
371,786
Verastem
,
Inc.
(a)
....................
19,103
58,837
Vericel
Corp.
(a)
.....................
5,485
267,668
Verve
Therapeutics,
Inc.
(a)(b)
............
1,859
87,373
Viking
Therapeutics,
Inc.
(a)
.............
7,550
47,414
Vincerx
Pharma,
Inc.
(a)
...............
1,535
24,821
Vir
Biotechnology,
Inc.
(a)
..............
6,962
302,986
Viracta
Therapeutics,
Inc.
(a)
............
4,324
34,678
VistaGen
Therapeutics,
Inc.
(a)
...........
22,818
62,521
Vor
BioPharma
,
Inc.
(a)(b)
...............
2,239
35,107
Werewolf
Therapeutics,
Inc.
(a)(b)
.........
903
15,495
XBiotech
,
Inc.
.....................
1,836
23,776
Xencor
,
Inc.
(a)(b)
....................
6,594
215,360
XOMA
Corp.
(a)(b)
....................
748
18,513
Y-
mAbs
Therapeutics,
Inc.
(a)(b)
..........
4,177
119,212
Zentalis
Pharmaceuticals,
Inc.
(a)
.........
4,224
281,487
ZIOPHARM
Oncology,
Inc.
(a)
...........
25,913
47,162
33,607,690
Building
Products
—
1.0%
AAON,
Inc.
.......................
4,936
322,518
American
Woodmark
Corp.
(a)
...........
1,917
125,314
Apogee
Enterprises,
Inc.
..............
3,001
113,318
Caesarstone
Ltd.
...................
2,327
28,901
Cornerstone
Building
Brands,
Inc.
(a)
......
6,531
95,418
CSW
Industrials,
Inc.
................
1,691
215,941
Gibraltar
Industries,
Inc.
(a)
.............
3,880
270,242
Griffon
Corp.
......................
5,478
134,759
Insteel
Industries,
Inc.
................
2,083
79,258
JELD-WEN
Holding,
Inc.
(a)
.............
10,021
250,826
Masonite
International
Corp.
(a)
..........
2,834
300,772
PGT
Innovations,
Inc.
(a)
...............
6,929
132,344
Quanex
Building
Products
Corp.
.........
4,145
88,745
Resideo
Technologies,
Inc.
(a)
...........
17,017
421,852
Simpson
Manufacturing
Co.,
Inc.
(b)
.......
5,128
548,542
UFP
Industries,
Inc.
.................
7,033
478,103
View,
Inc.,
Class
A
(a)(b)
................
10,101
54,747
3,661,600
Capital
Markets
—
1.6%
Artisan
Partners
Asset
Management,
Inc.,
Class
A
.......................
6,814
333,341
AssetMark
Financial
Holdings,
Inc.
(a)
......
2,168
53,918
Associated
Capital
Group,
Inc.,
Class
A
....
300
11,223
B.
Riley
Financial,
Inc.
...............
2,441
144,117
BGC
Partners,
Inc.,
Class
A
............
38,976
203,065
Blucora
,
Inc.
(a)
.....................
5,684
88,614
Brightsphere
Investment
Group,
Inc.
......
6,919
180,794
Cohen
&
Steers,
Inc.
................
2,961
248,043
Cowen,
Inc.,
Class
A
................
3,013
103,376
Diamond
Hill
Investment
Group,
Inc.
......
352
61,832
Donnelley
Financial
Solutions,
Inc.
(a)
......
3,421
118,435
Federated
Hermes,
Inc.,
Class
B
........
11,294
367,055
Focus
Financial
Partners,
Inc.,
Class
A
(a)
...
7,012
367,218
GAMCO
Investors,
Inc.,
Class
A
(b)
........
630
16,619
GCM
Grosvenor,
Inc.,
Class
A
..........
3,902
44,951
Greenhill
&
Co.,
Inc.
.................
1,834
26,813
Hamilton
Lane,
Inc.,
Class
A
...........
4,004
339,619
Houlihan
Lokey
,
Inc.
.................
6,013
553,797
Moelis
&
Co.,
Class
A
................
7,297
451,465
Open
Lending
Corp.,
Class
A
(a)
..........
12,178
439,261
Oppenheimer
Holdings,
Inc.,
Class
A
......
1,068
48,370
Piper
Sandler
Cos.
..................
2,021
279,828
PJT
Partners,
Inc.,
Class
A
............
2,878
227,679
Pzena
Investment
Management,
Inc.,
Class
A
1,562
15,370
Sculptor
Capital
Management,
Inc.,
Class
A
.
2,597
72,430
Security
Shares
Shares
Value
Capital
Markets
(continued)
StepStone
Group,
Inc.,
Class
A
.........
4,454
$
189,919
StoneX
Group,
Inc.
(a)
................
1,976
130,218
Value
Line,
Inc.
....................
115
3,940
Virtus
Investment
Partners,
Inc.
.........
859
266,565
WisdomTree
Investments,
Inc.
..........
15,487
87,811
5,475,686
Chemicals
—
1.9%
AdvanSix
,
Inc.
(a)
....................
3,233
128,512
American
Vanguard
Corp.
.............
3,869
58,228
Amyris
,
Inc.
(a)
.....................
19,946
273,859
Avient
Corp.
......................
10,715
496,640
Balchem
Corp.
....................
3,771
547,059
Cabot
Corp.
......................
6,694
335,503
Chase
Corp.
(b)
.....................
874
89,279
Danimer
Scientific,
Inc.
(a)
..............
7,599
124,168
Ecovyst
,
Inc.
......................
6,125
71,417
Ferro
Corp.
(a)
......................
9,583
194,918
FutureFuel
Corp.
...................
3,543
25,262
GCP
Applied
Technologies,
Inc.
(a)
........
5,790
126,917
Hawkins,
Inc.
.....................
2,231
77,817
HB
Fuller
Co.
.....................
6,109
394,397
Ingevity
Corp.
(a)
....................
4,661
332,656
Innospec
,
Inc.
.....................
2,919
245,838
Intrepid
Potash,
Inc.
(a)
................
1,251
38,656
Koppers
Holdings,
Inc.
(a)
..............
2,429
75,930
Kraton
Corp.
(a)
.....................
3,820
174,345
Kronos
Worldwide,
Inc.
...............
2,839
35,232
Livent
Corp.
(a)(b)
....................
19,070
440,708
Marrone
Bio
Innovations,
Inc.
(a)(b)
........
14,625
13,177
Minerals
Technologies,
Inc.
............
4,010
280,058
Orion
Engineered
Carbons
SA
(a)(e)
........
7,203
131,311
PureCycle
Technologies,
Inc.
(a)(b)
.........
3,929
52,177
Quaker
Chemical
Corp.
(b)
.............
1,605
381,541
Rayonier
Advanced
Materials,
Inc.
(a)
......
7,334
55,005
Sensient
Technologies
Corp.
...........
4,932
449,206
Stepan
Co.
.......................
2,554
288,449
Tredegar
Corp.
....................
3,437
41,863
Trinseo
SA
.......................
4,579
247,174
Tronox
Holdings
plc,
Class
A
...........
13,404
330,409
Valhi,
Inc.
........................
447
10,428
Zymergen
,
Inc.
(a)
...................
2,233
29,409
6,597,548
Commercial
Services
&
Supplies
—
1.8%
ABM
Industries,
Inc.
.................
8,038
361,790
ACCO
Brands
Corp.
.................
11,547
99,189
Brady
Corp.,
Class
A
................
5,627
285,289
BrightView
Holdings,
Inc.
(a)
............
4,891
72,191
Brink's
Co.
(The)
(b)
..................
5,805
367,457
Casella
Waste
Systems,
Inc.,
Class
A
(a)
....
5,791
439,769
CECO
Environmental
Corp.
(a)
...........
4,493
31,631
Cimpress
plc
(a)(e)
...................
1,966
170,708
CompX
International,
Inc.
.............
284
5,902
CoreCivic
,
Inc.
(a)
...................
14,309
127,350
Covanta
Holding
Corp.
...............
14,291
287,535
Deluxe
Corp.
......................
5,120
183,757
Ennis,
Inc.
.......................
2,869
54,081
Harsco
Corp.
(a)
....................
9,462
160,381
Healthcare
Services
Group,
Inc.
.........
8,913
222,736
Heritage-Crystal
Clean,
Inc.
(a)(b)
.........
1,740
50,425
Herman
Miller,
Inc.
(b)
.................
8,805
331,596
HNI
Corp.
........................
5,188
190,503
Interface,
Inc.
.....................
7,046
106,747
KAR
Auction
Services,
Inc.
(a)
...........
13,991
229,312
Kimball
International,
Inc.,
Class
B
.......
3,980
44,576
BlackRock
Small
Cap
Index
V.I.
Fund
7
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Commercial
Services
&
Supplies
(continued)
Matthews
International
Corp.,
Class
A
.....
3,699
$
128,318
Montrose
Environmental
Group,
Inc.
(a)
.....
2,637
162,808
NL
Industries,
Inc.
..................
1,105
6,365
Pitney
Bowes,
Inc.
..................
21,420
154,438
RR
Donnelley
&
Sons
Co.
(a)
............
8,452
43,443
SP
Plus
Corp.
(a)
....................
2,737
83,944
Steelcase,
Inc.,
Class
A
..............
10,547
133,736
Team,
Inc.
(a)
......................
3,929
11,826
Tetra
Tech,
Inc.
....................
6,347
947,861
UniFirst
Corp.
.....................
1,799
382,503
US
Ecology,
Inc.
(a)(b)
.................
3,594
116,266
Viad
Corp.
(a)(b)
.....................
2,488
112,980
VSE
Corp.
.......................
1,237
59,586
6,166,999
Communications
Equipment
—
0.7%
ADTRAN,
Inc.
.....................
5,675
106,463
Aviat
Networks,
Inc.
(a)
................
794
26,091
CalAmp
Corp.
(a)
....................
3,771
37,522
Calix,
Inc.
(a)
.......................
6,422
317,440
Cambium
Networks
Corp.
(a)
............
1,081
39,121
Casa
Systems,
Inc.
(a)
................
3,218
21,818
Clearfield,
Inc.
(a)
....................
1,452
64,106
Comtech
Telecommunications
Corp.
......
2,824
72,323
Digi
International,
Inc.
(a)
...............
3,802
79,918
DZS,
Inc.
(a)
.......................
2,117
25,954
EchoStar
Corp.,
Class
A
(a)
.............
4,513
115,127
EMCORE
Corp.
(a)
...................
4,356
32,583
Extreme
Networks,
Inc.
(a)
..............
14,854
146,312
Harmonic,
Inc.
(a)
....................
10,653
93,214
Infinera
Corp.
(a)
....................
21,242
176,733
Inseego
Corp.
(a)
....................
9,943
66,220
KVH
Industries,
Inc.
(a)
................
1,424
13,713
NETGEAR,
Inc.
(a)
...................
3,687
117,652
NetScout
Systems,
Inc.
(a)
.............
8,371
225,598
Plantronics,
Inc.
(a)(b)
.................
4,967
127,702
Ribbon
Communications,
Inc.
(a)
.........
8,602
51,440
Viavi
Solutions,
Inc.
(a)(b)
...............
26,626
419,093
2,376,143
Construction
&
Engineering
—
1.3%
Ameresco
,
Inc.,
Class
A
(a)
.............
3,686
215,373
API
Group
Corp.
(a)(d)(f)
................
23,608
480,423
Arcosa
,
Inc.
......................
5,780
289,983
Argan
,
Inc.
.......................
1,840
80,353
Comfort
Systems
USA,
Inc.
............
4,253
303,324
Concrete
Pumping
Holdings,
Inc.
(a)
.......
3,764
32,144
Construction
Partners,
Inc.,
Class
A
(a)
.....
3,367
112,357
Dycom
Industries,
Inc.
(a)
..............
3,565
253,971
EMCOR
Group,
Inc.
.................
6,274
723,894
Fluor
Corp.
(a)
......................
16,886
269,669
Granite
Construction,
Inc.
.............
5,458
215,864
Great
Lakes
Dredge
&
Dock
Corp.
(a)
......
7,801
117,717
IES
Holdings,
Inc.
(a)
.................
1,029
47,015
Infrastructure
and
Energy
Alternatives,
Inc.
(a)
2,493
28,495
INNOVATE
Corp.
(a)
..................
6,279
25,744
Matrix
Service
Co.
(a)
.................
2,456
25,690
MYR
Group,
Inc.
(a)
..................
1,899
188,950
Northwest
Pipe
Co.
(a)
................
1,280
30,336
NV5
Global,
Inc.
(a)
..................
1,528
150,615
Primoris
Services
Corp.
..............
6,380
156,246
Sterling
Construction
Co.,
Inc.
(a)
.........
3,274
74,221
Tutor
Perini
Corp.
(a)
.................
4,815
62,499
WillScot
Mobile
Mini
Holdings
Corp.
(a)
.....
24,614
780,756
4,665,639
Security
Shares
Shares
Value
Construction
Materials
—
0.2%
Forterra
,
Inc.
(a)
.....................
3,594
$
84,675
Summit
Materials,
Inc.,
Class
A
(a)
........
13,994
447,388
United
States
Lime
&
Minerals,
Inc.
.......
275
33,220
565,283
Consumer
Finance
—
0.9%
Atlanticus
Holdings
Corp.
(a)
............
734
38,946
Curo
Group
Holdings
Corp.
............
2,633
45,630
Encore
Capital
Group,
Inc.
(a)
...........
3,532
174,022
Enova
International,
Inc.
(a)
.............
4,391
151,709
EZCORP,
Inc.,
Class
A
(a)
..............
6,650
50,340
FirstCash
,
Inc.
.....................
4,673
408,888
Green
Dot
Corp.,
Class
A
(a)
............
6,184
311,241
LendingClub
Corp.
(a)
.................
11,509
325,014
LendingTree
,
Inc.
(a)
..................
1,386
193,804
Navient
Corp.
.....................
19,394
382,644
Nelnet,
Inc.,
Class
A
.................
2,025
160,461
Oportun
Financial
Corp.
(a)
.............
2,532
63,376
PRA
Group,
Inc.
(a)
..................
5,309
223,721
PROG
Holdings,
Inc.
................
7,785
327,048
Regional
Management
Corp.
...........
935
54,398
World
Acceptance
Corp.
(a)
.............
507
96,117
3,007,359
Containers
&
Packaging
—
0.2%
Greif,
Inc.,
Class
A
..................
2,965
191,539
Greif,
Inc.,
Class
B
..................
766
49,637
Myers
Industries,
Inc.
................
4,293
84,014
O-I
Glass,
Inc.
(a)
....................
18,515
264,209
Pactiv
Evergreen,
Inc.
...............
5,235
65,542
Ranpak
Holdings
Corp.
(a)
..............
4,170
111,839
UFP
Technologies,
Inc.
(a)
..............
876
53,953
820,733
Distributors
—
0.0%
(a)
Funko
,
Inc.,
Class
A
.................
3,374
61,441
Greenlane
Holdings,
Inc.,
Class
A
........
1,731
4,102
65,543
Diversified
Consumer
Services
—
0.7%
2U,
Inc.
(a)
........................
8,442
283,398
Adtalem
Global
Education,
Inc.
(a)
........
5,874
222,096
American
Public
Education,
Inc.
(a)
........
2,315
59,287
Carriage
Services,
Inc.
...............
1,892
84,364
Coursera,
Inc.
(a)
....................
6,793
214,998
European
Wax
Center,
Inc.,
Class
A
(a)
.....
1,196
33,500
Graham
Holdings
Co.,
Class
B
..........
462
272,192
Houghton
Mifflin
Harcourt
Co.
(a)(b)
........
15,166
203,679
Laureate
Education,
Inc.,
Class
A
(a)
.......
11,686
198,545
OneSpaWorld
Holdings
Ltd.
(a)(e)
.........
6,105
60,867
Perdoceo
Education
Corp.
(a)
...........
8,746
92,358
PowerSchool
Holdings,
Inc.,
Class
A
(a)
.....
5,068
124,724
Regis
Corp.
(a)
.....................
3,106
10,809
StoneMor
,
Inc.
(a)
....................
4,160
10,275
Strategic
Education,
Inc.
(b)
.............
2,814
198,387
Stride,
Inc.
(a)
......................
4,776
171,649
Vivint
Smart
Home,
Inc.
(a)
.............
10,929
103,279
WW
International,
Inc.
(a)(b)
.............
6,282
114,647
2,459,054
Diversified
Financial
Services
—
0.1%
Alerus
Financial
Corp.
...............
1,846
55,158
A-Mark
Precious
Metals,
Inc.
...........
1,041
62,481
Banco
Latinoamericano
de
Comercio
Exterior
SA,
Class
E
(e)
...................
3,407
59,759
Cannae
Holdings,
Inc.
(a)
..............
9,974
310,291
BlackRock
Small
Cap
Index
V.I.
Fund
8
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Diversified
Financial
Services
(continued)
Marlin
Business
Services
Corp.
.........
1,162
$
25,831
513,520
Diversified
Telecommunication
Services
—
0.6%
Anterix
,
Inc.
(a)
.....................
1,375
83,462
ATN
International,
Inc.
...............
1,274
59,687
Bandwidth,
Inc.,
Class
A
(a)(b)
............
2,724
245,923
Cogent
Communications
Holdings,
Inc.
....
5,020
355,617
Consolidated
Communications
Holdings,
Inc.
(a)
8,625
79,264
Globalstar
,
Inc.
(a)
...................
72,418
120,938
IDT
Corp.,
Class
B
(a)(b)
................
2,459
103,155
Iridium
Communications,
Inc.
(a)(b)
.........
13,903
554,034
Liberty
Latin
America
Ltd.,
Class
A
(a)(e)
.....
5,114
66,891
Liberty
Latin
America
Ltd.,
Class
C
(a)(e)
.....
17,990
236,029
Ooma
,
Inc.
(a)
......................
2,831
52,685
Radius
Global
Infrastructure,
Inc.
(a)
.......
6,939
113,314
2,070,999
Electric
Utilities
—
0.6%
ALLETE,
Inc.
.....................
6,263
372,774
MGE
Energy,
Inc.
...................
4,346
319,431
Otter
Tail
Corp.
....................
4,881
273,189
PNM
Resources,
Inc.
................
10,004
494,998
Portland
General
Electric
Co.
...........
10,594
497,812
Via
Renewables,
Inc.
................
1,964
20,013
1,978,217
Electrical
Equipment
—
1.0%
Advent
Technologies
Holdings,
Inc.
(a)
......
2,036
17,713
Allied
Motion
Technologies,
Inc.
.........
1,497
46,826
American
Superconductor
Corp.
(a)
.......
3,553
51,803
Array
Technologies,
Inc.
(a)
.............
15,236
282,171
Atkore
,
Inc.
(a)
......................
5,427
471,715
AZZ,
Inc.
........................
2,860
152,152
Babcock
&
Wilcox
Enterprises,
Inc.
(a)
......
6,621
42,441
Beam
Global
(a)
.....................
1,049
28,711
Blink
Charging
Co.
(a)(b)
................
4,355
124,597
Bloom
Energy
Corp.,
Class
A
(a)
..........
16,611
310,958
Encore
Wire
Corp.
..................
2,419
229,394
EnerSys
.........................
5,116
380,835
Eos
Energy
Enterprises,
Inc.,
Class
A
(a)(b)
...
5,057
70,950
FTC
Solar,
Inc.
(a)
...................
2,269
17,675
FuelCell
Energy,
Inc.
(a)
...............
38,987
260,823
GrafTech
International
Ltd.
............
23,960
247,267
Powell
Industries,
Inc.
................
923
22,678
Preformed
Line
Products
Co.
...........
421
27,382
Romeo
Power,
Inc.,
Class
A
(a)
..........
14,822
73,369
Stem,
Inc.
(a)
.......................
5,705
136,292
Thermon
Group
Holdings,
Inc.
(a)
.........
3,692
63,908
TPI
Composites,
Inc.
(a)
...............
4,261
143,809
Vicor
Corp.
(a)
......................
2,459
329,899
3,533,368
Electronic
Equipment,
Instruments
&
Components
—
2.2%
908
Devices,
Inc.
(a)
..................
1,087
35,349
Advanced
Energy
Industries,
Inc.
........
4,590
402,773
Aeva
Technologies,
Inc.
(a)
.............
9,025
71,658
Akoustis
Technologies,
Inc.
(a)
...........
5,185
50,295
Arlo
Technologies,
Inc.
(a)
..............
9,839
63,068
Badger
Meter,
Inc.
..................
3,484
352,372
Belden,
Inc.
......................
5,198
302,835
Benchmark
Electronics,
Inc.
...........
4,169
111,354
CTS
Corp.
.......................
3,636
112,389
Daktronics,
Inc.
(a)
...................
3,703
20,107
ePlus
,
Inc.
(a)
......................
1,539
157,917
Fabrinet
(a)(e)
.......................
4,312
442,023
FARO
Technologies,
Inc.
(a)
.............
2,195
144,453
Security
Shares
Shares
Value
Electronic
Equipment,
Instruments
&
Components
(continued)
Identiv
,
Inc.
(a)
......................
2,464
$
46,422
II-VI,
Inc.
(a)
.......................
12,310
730,722
Insight
Enterprises,
Inc.
(a)
.............
4,057
365,455
Iteris
,
Inc.
(a)
.......................
5,349
28,243
Itron
,
Inc.
(a)
.......................
5,305
401,217
Kimball
Electronics,
Inc.
(a)
.............
3,028
78,032
Knowles
Corp.
(a)
...................
10,747
201,399
Luna
Innovations,
Inc.
(a)
..............
3,683
34,989
Methode
Electronics,
Inc.
(b)
............
4,412
185,525
MicroVision
,
Inc.
(a)
..................
18,888
208,712
Napco
Security
Technologies,
Inc.
(a)
......
1,706
73,494
nLight
,
Inc.
(a)
......................
5,074
143,036
Novanta
,
Inc.
(a)(b)
...................
4,143
640,094
OSI
Systems,
Inc.
(a)
.................
2,010
190,548
Ouster,
Inc.,
Class
A
(a)
................
3,464
25,356
PAR
Technology
Corp.
(a)
..............
2,829
174,012
PC
Connection,
Inc.
.................
1,249
54,993
Plexus
Corp.
(a)
.....................
3,293
294,427
Rogers
Corp.
(a)(b)
...................
2,232
416,223
Sanmina
Corp.
(a)
...................
7,662
295,293
ScanSource
,
Inc.
(a)
..................
3,029
105,379
TTM
Technologies,
Inc.
(a)(b)
............
12,411
156,006
Velodyne
Lidar,
Inc.
(a)
................
8,433
49,923
Vishay
Intertechnology
,
Inc.
............
15,672
314,850
Vishay
Precision
Group,
Inc.
(a)
..........
1,374
47,774
7,528,717
Energy
Equipment
&
Services
—
0.8%
Archrock
,
Inc.
.....................
15,696
129,492
Aspen
Aerogels,
Inc.
(a)
...............
2,540
116,865
Bristow
Group,
Inc.
(a)
................
2,784
88,615
Cactus,
Inc.,
Class
A
................
6,511
245,595
ChampionX
Corp.
(a)
.................
23,735
530,715
DMC
Global,
Inc.
(a)
..................
2,216
81,793
Dril
-Quip,
Inc.
(a)
....................
4,147
104,421
Frank's
International
NV
(a)
.............
21,411
62,948
FTS
International,
Inc.,
Class
A
(a)
........
1,060
26,076
Helix
Energy
Solutions
Group,
Inc.
(a)
......
17,409
67,547
Helmerich
&
Payne,
Inc.
..............
12,562
344,324
Liberty
Oilfield
Services,
Inc.,
Class
A
(a)(b)
...
10,661
129,318
Nabors
Industries
Ltd.
(a)(b)
.............
773
74,579
National
Energy
Services
Reunited
Corp.
(a)
.
3,552
44,471
Newpark
Resources,
Inc.
(a)
............
8,957
29,558
NexTier
Oilfield
Solutions,
Inc.
(a)
.........
21,593
99,328
Oceaneering
International,
Inc.
(a)
........
11,385
151,648
Oil
States
International,
Inc.
(a)
...........
6,626
42,340
Patterson-UTI
Energy,
Inc.
............
21,932
197,388
ProPetro
Holding
Corp.
(a)
..............
10,687
92,443
RPC,
Inc.
(a)
.......................
8,169
39,701
Select
Energy
Services,
Inc.,
Class
A
(a)
....
8,100
42,039
Solaris
Oilfield
Infrastructure,
Inc.,
Class
A
..
3,215
26,813
TETRA
Technologies,
Inc.
(a)
............
14,638
45,671
Tidewater,
Inc.
(a)
...................
4,295
51,798
US
Silica
Holdings,
Inc.
(a)
.............
8,832
70,568
2,936,054
Entertainment
—
1.0%
(a)
AMC
Entertainment
Holdings,
Inc.,
Class
A
.
60,750
2,312,145
Chicken
Soup
For
The
Soul
Entertainment,
Inc.
839
19,188
Cinemark
Holdings,
Inc.
..............
13,036
250,421
CuriosityStream
,
Inc.,
Class
A
..........
3,104
32,716
Eros
STX
Global
Corp.
(b)(e)
.............
37,891
34,841
IMAX
Corp.
.......................
6,070
115,209
Liberty
Media
Corp.-Liberty
Braves,
Class
A
.
1,048
28,202
Liberty
Media
Corp.-Liberty
Braves,
Class
C
.
4,246
112,179
Lions
Gate
Entertainment
Corp.,
Class
A
...
6,947
98,578
BlackRock
Small
Cap
Index
V.I.
Fund
9
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Entertainment
(continued)
Lions
Gate
Entertainment
Corp.,
Class
B
...
13,746
$
178,698
LiveXLive
Media,
Inc.
................
6,992
20,906
Madison
Square
Garden
Entertainment
Corp.
2,923
212,414
Marcus
Corp.
(The)
(b)
................
2,653
46,295
3,461,792
Equity
Real
Estate
Investment
Trusts
(REITs)
—
6.1%
Acadia
Realty
Trust
.................
10,003
204,161
Agree
Realty
Corp.
(b)
................
8,024
531,430
Alexander
&
Baldwin,
Inc.
.............
8,361
195,982
Alexander's,
Inc.
...................
264
68,804
American
Assets
Trust,
Inc.
(b)
...........
5,825
217,971
American
Finance
Trust,
Inc.
...........
14,113
113,469
Apartment
Investment
and
Management
Co.,
Class
A
.......................
17,769
121,718
Apple
Hospitality
REIT,
Inc.
............
25,065
394,272
Armada
Hoffler
Properties,
Inc.
.........
7,049
94,245
Ashford
Hospitality
Trust,
Inc.
(a)
.........
1,307
19,239
Braemar
Hotels
&
Resorts,
Inc.
(a)
........
5,307
25,739
Brandywine
Realty
Trust
..............
20,253
271,795
Broadstone
Net
Lease,
Inc.
............
18,210
451,790
BRT
Apartments
Corp.
(b)
..............
967
18,644
CareTrust
REIT,
Inc.
.................
11,457
232,806
CatchMark
Timber
Trust,
Inc.,
Class
A
.....
5,604
66,519
Centerspace
REIT
(b)
.................
1,631
154,129
Chatham
Lodging
Trust
(a)
.............
5,808
71,148
City
Office
REIT,
Inc.
................
5,031
89,854
Clipper
Realty,
Inc.
..................
2,104
17,042
Columbia
Property
Trust,
Inc.
...........
13,496
256,694
Community
Healthcare
Trust,
Inc.
........
2,851
128,837
CorePoint
Lodging,
Inc.
(a)
.............
4,733
73,362
Corporate
Office
Properties
Trust
........
13,117
353,897
CTO
Realty
Growth,
Inc.
(b)
.............
633
34,030
DiamondRock
Hospitality
Co.
(a)
.........
24,581
232,290
DigitalBridge
Group,
Inc.,
Class
A
(a)(b)
......
59,914
361,281
Diversified
Healthcare
Trust
............
27,473
93,133
Easterly
Government
Properties,
Inc.
.....
9,924
205,030
EastGroup
Properties,
Inc.
............
4,679
779,662
Empire
State
Realty
Trust,
Inc.,
Class
A
(b)
...
16,831
168,815
Equity
Commonwealth
(a)
..............
13,805
358,654
Essential
Properties
Realty
Trust,
Inc.
.....
13,627
380,466
Farmland
Partners,
Inc.
..............
3,525
42,265
Four
Corners
Property
Trust,
Inc.
........
8,912
239,376
Franklin
Street
Properties
Corp.
.........
12,145
56,353
GEO
Group,
Inc.
(The)
(b)
..............
13,996
104,550
Getty
Realty
Corp.
(b)
.................
4,800
140,688
Gladstone
Commercial
Corp.
...........
4,247
89,314
Gladstone
Land
Corp.
...............
3,006
68,447
Global
Medical
REIT,
Inc.
.............
6,764
99,431
Global
Net
Lease,
Inc.
...............
11,884
190,382
Healthcare
Realty
Trust,
Inc.
...........
17,157
510,935
Hersha
Hospitality
Trust
(a)(b)
............
3,854
35,958
Independence
Realty
Trust,
Inc.
(b)
........
12,201
248,290
Indus
Realty
Trust,
Inc.
...............
576
40,378
Industrial
Logistics
Properties
Trust
.......
7,505
190,702
Innovative
Industrial
Properties,
Inc.
(b)
.....
2,789
644,733
iStar
,
Inc.
(b)
.......................
8,154
204,502
Kite
Realty
Group
Trust
...............
9,703
197,553
Lexington
Realty
Trust
(b)
..............
32,732
417,333
LTC
Properties,
Inc.
.................
4,502
142,668
Macerich
Co.
(The)
(b)
................
23,579
394,005
Mack-Cali
Realty
Corp.
...............
10,338
176,987
Monmouth
Real
Estate
Investment
Corp.
...
11,043
205,952
National
Health
Investors,
Inc.
..........
5,220
279,270
National
Storage
Affiliates
Trust
.........
9,351
493,639
NETSTREIT
Corp.
..................
4,734
111,959
Security
Shares
Shares
Value
Equity
Real
Estate
Investment
Trusts
(REITs)
(continued)
NexPoint
Residential
Trust,
Inc.
.........
2,645
$
163,673
Office
Properties
Income
Trust
..........
5,756
145,805
One
Liberty
Properties,
Inc.
............
1,954
59,577
Outfront
Media,
Inc.
.................
17,362
437,522
Paramount
Group,
Inc.
...............
21,973
197,537
Pebblebrook
Hotel
Trust
..............
15,509
347,557
Phillips
Edison
&
Co.,
Inc.
.............
2,206
67,746
Physicians
Realty
Trust
...............
25,613
451,301
Piedmont
Office
Realty
Trust,
Inc.,
Class
A
..
14,912
259,916
Plymouth
Industrial
REIT,
Inc.
..........
3,594
81,764
Postal
Realty
Trust,
Inc.,
Class
A
........
1,452
27,065
PotlatchDeltic
Corp.
.................
7,844
404,594
Preferred
Apartment
Communities,
Inc.,
Class
A
...........................
6,414
78,443
PS
Business
Parks,
Inc.
(b)
.............
2,397
375,706
Retail
Opportunity
Investments
Corp.
(b)
....
14,207
247,486
Retail
Properties
of
America,
Inc.,
Class
A
..
25,593
329,638
Retail
Value,
Inc.
...................
2,123
55,899
RLJ
Lodging
Trust
..................
19,532
290,246
RPT
Realty
.......................
9,194
117,315
Ryman
Hospitality
Properties,
Inc.
(a)
......
6,330
529,821
Sabra
Health
Care
REIT,
Inc.
...........
25,979
382,411
Safehold
,
Inc.
(b)
....................
2,168
155,858
Saul
Centers,
Inc.
..................
1,379
60,759
Seritage
Growth
Properties,
Class
A
(a)
.....
4,305
63,843
Service
Properties
Trust
..............
19,168
214,873
SITE
Centers
Corp.
.................
20,672
319,176
STAG
Industrial,
Inc.
................
19,198
753,521
Summit
Hotel
Properties,
Inc.
(a)
.........
12,452
119,913
Sunstone
Hotel
Investors,
Inc.
(a)(b)
........
25,642
306,165
Tanger
Factory
Outlet
Centers,
Inc.
(b)
......
11,973
195,160
Terreno
Realty
Corp.
................
8,180
517,221
UMH
Properties,
Inc.
................
4,828
110,561
Uniti
Group,
Inc.
...................
23,071
285,388
Universal
Health
Realty
Income
Trust
.....
1,445
79,865
Urban
Edge
Properties
...............
13,814
252,934
Urstadt
Biddle
Properties,
Inc.,
Class
A
....
3,344
63,302
Washington
REIT
(b)
.................
10,102
250,025
Whitestone
REIT
...................
4,547
44,470
Xenia
Hotels
&
Resorts,
Inc.
(a)
..........
13,366
237,113
21,193,747
Food
&
Staples
Retailing
—
0.9%
Andersons,
Inc.
(The)
................
3,864
119,127
BJ's
Wholesale
Club
Holdings,
Inc.
(a)
......
16,132
885,970
Chefs'
Warehouse,
Inc.
(The)
(a)
.........
3,479
113,311
HF
Foods
Group,
Inc.
(a)
...............
4,816
29,137
Ingles
Markets,
Inc.,
Class
A
...........
1,713
113,109
MedAvail
Holdings,
Inc.
(a)
.............
1,398
4,082
Natural
Grocers
by
Vitamin
Cottage,
Inc.
...
1,090
12,230
Performance
Food
Group
Co.
(a)
.........
17,843
828,986
PriceSmart
,
Inc.
....................
2,789
216,287
Rite
Aid
Corp.
(a)
....................
6,261
88,906
SpartanNash
Co.
...................
4,412
96,623
Sprouts
Farmers
Market,
Inc.
(a)
..........
13,506
312,934
United
Natural
Foods,
Inc.
(a)(b)
..........
6,657
322,332
Village
Super
Market,
Inc.,
Class
A
.......
1,150
24,932
Weis
Markets,
Inc.
(b)
.................
1,962
103,103
3,271,069
Food
Products
—
0.9%
AppHarvest
,
Inc.
(a)
..................
8,210
53,529
B&G
Foods,
Inc.
(b)
..................
7,538
225,311
Calavo
Growers,
Inc.
................
2,114
80,839
Cal-Maine
Foods,
Inc.
................
4,199
151,836
Fresh
Del
Monte
Produce,
Inc.
..........
3,827
123,306
BlackRock
Small
Cap
Index
V.I.
Fund
10
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Food
Products
(continued)
Hostess
Brands,
Inc.
(a)
...............
15,745
$
273,491
J&J
Snack
Foods
Corp.
..............
1,759
268,810
John
B
Sanfilippo
&
Son,
Inc.
...........
1,021
83,436
Laird
Superfood,
Inc.
(a)
...............
739
14,100
Lancaster
Colony
Corp.
(b)
.............
2,203
371,888
Landec
Corp.
(a)
....................
3,530
32,547
Limoneira
Co.
.....................
2,145
34,685
Mission
Produce,
Inc.
(a)(b)
..............
4,423
81,295
Sanderson
Farms,
Inc.
...............
2,368
445,658
Seneca
Foods
Corp.,
Class
A
(a)
.........
827
39,878
Simply
Good
Foods
Co.
(The)
(a)
.........
9,856
339,933
Tattooed
Chef,
Inc.,
Class
A
(a)
..........
5,578
102,802
Tootsie
Roll
Industries,
Inc.
(b)
...........
1,841
56,022
TreeHouse
Foods,
Inc.
(a)
..............
6,202
247,336
Utz
Brands,
Inc.,
Class
A
(b)
............
6,470
110,831
Vital
Farms,
Inc.
(a)
..................
2,850
50,074
Whole
Earth
Brands,
Inc.,
Class
A
(a)
......
4,458
51,490
3,239,097
Gas
Utilities
—
0.8%
Brookfield
Infrastructure
Corp.,
Class
A
....
6,288
376,525
Chesapeake
Utilities
Corp.
............
2,038
244,662
New
Jersey
Resources
Corp.
...........
11,373
395,894
Northwest
Natural
Holding
Co.
..........
3,676
169,059
ONE
Gas,
Inc.
.....................
6,136
388,838
South
Jersey
Industries,
Inc.
...........
12,079
256,800
Southwest
Gas
Holdings,
Inc.
..........
6,919
462,743
Spire,
Inc.
(b)
.......................
6,049
370,078
2,664,599
Health
Care
Equipment
&
Supplies
—
3.6%
Accelerate
Diagnostics,
Inc.
(a)
..........
4,258
24,824
Accuray
,
Inc.
(a)
.....................
11,905
47,025
Acutus
Medical,
Inc.
(a)
................
1,871
16,540
Alphatec
Holdings,
Inc.
(a)
..............
8,211
100,092
AngioDynamics
,
Inc.
(a)
...............
4,358
113,047
Apyx
Medical
Corp.
(a)
................
3,441
47,658
Asensus
Surgical,
Inc.
(a)
..............
27,909
51,632
Aspira
Women's
Health,
Inc.
(a)
..........
9,969
32,399
AtriCure
,
Inc.
(a)
....................
5,323
370,215
Atrion
Corp.
......................
159
110,902
Avanos
Medical,
Inc.
(a)
...............
5,536
172,723
AxoGen
,
Inc.
(a)
.....................
4,747
75,003
Axonics
,
Inc.
(a)
.....................
5,393
351,030
BioLife
Solutions,
Inc.
(a)
...............
2,912
123,236
Bioventus
,
Inc.,
Class
A
(a)
.............
1,424
20,164
Butterfly
Network,
Inc.,
Class
A
(a)
........
21,490
224,356
Cardiovascular
Systems,
Inc.
(a)
..........
4,687
153,874
Cerus
Corp.
(a)
.....................
20,119
122,525
ClearPoint
Neuro,
Inc.
(a)
..............
2,244
39,831
CONMED
Corp.
....................
3,414
446,654
CryoLife
,
Inc.
(a)
....................
4,519
100,729
CryoPort
,
Inc.
(a)
....................
4,773
317,452
Cutera
,
Inc.
(a)
.....................
2,055
95,763
CytoSorbents
Corp.
(a)
................
5,384
43,718
DarioHealth
Corp.
(a)(b)
................
1,608
21,949
Eargo
,
Inc.
(a)
......................
2,303
15,499
Glaukos
Corp.
(a)
....................
5,384
259,347
Haemonetics
Corp.
(a)
................
6,018
424,811
Heska
Corp.
(a)
.....................
1,143
295,511
Inari
Medical,
Inc.
(a)(b)
................
4,055
328,860
Inogen
,
Inc.
(a)
.....................
2,345
101,046
Integer
Holdings
Corp.
(a)
..............
3,919
350,123
Intersect
ENT,
Inc.
(a)
.................
4,011
109,099
Invacare
Corp.
(a)
...................
4,437
21,120
iRadimed
Corp.
(a)
...................
746
25,058
Security
Shares
Shares
Value
Health
Care
Equipment
&
Supplies
(continued)
iRhythm
Technologies,
Inc.
(a)
...........
3,421
$
200,334
Lantheus
Holdings,
Inc.
(a)
.............
7,945
204,028
LeMaitre
Vascular,
Inc.
...............
2,158
114,568
LivaNova
plc
(a)
.....................
6,356
503,332
Meridian
Bioscience,
Inc.
(a)
............
5,242
100,856
Merit
Medical
Systems,
Inc.
(a)
...........
5,977
429,149
Mesa
Laboratories,
Inc.
..............
572
172,950
Misonix
,
Inc.
(a)
.....................
1,357
34,332
Natus
Medical,
Inc.
(a)
................
3,923
98,389
Neogen
Corp.
(a)
....................
12,670
550,258
Neuronetics
,
Inc.
(a)
..................
2,979
19,542
NeuroPace
,
Inc.
(a)
..................
831
13,171
Nevro
Corp.
(a)
.....................
4,042
470,408
NuVasive
,
Inc.
(a)
....................
6,179
369,813
OraSure
Technologies,
Inc.
(a)
...........
8,001
90,491
Ortho
Clinical
Diagnostics
Holdings
plc
(a)
...
13,027
240,739
Orthofix
Medical,
Inc.
(a)
...............
2,289
87,257
OrthoPediatrics
Corp.
(a)
...............
1,590
104,161
Outset
Medical,
Inc.
(a)
................
5,457
269,794
PAVmed
,
Inc.
(a)
....................
7,941
67,816
Pulmonx
Corp.
(a)
...................
3,029
108,983
Pulse
Biosciences,
Inc.
(a)
..............
1,765
38,124
Quotient
Ltd.
(a)
.....................
9,414
22,029
Retractable
Technologies,
Inc.
(a)
.........
1,830
20,185
SeaSpine
Holdings
Corp.
(a)
............
4,002
62,951
Senseonics
Holdings,
Inc.
(a)(b)
...........
49,547
167,964
Shockwave
Medical,
Inc.
(a)
.............
3,971
817,549
SI-BONE,
Inc.
(a)
....................
3,832
82,081
Sientra
,
Inc.
(a)
.....................
7,772
44,534
Sight
Sciences,
Inc.
(a)
................
1,311
29,760
Silk
Road
Medical,
Inc.
(a)
..............
4,046
222,651
Soliton,
Inc.
(a)
.....................
1,253
25,511
STAAR
Surgical
Co.
(a)
................
5,592
718,740
Stereotaxis
,
Inc.
(a)
..................
5,928
31,893
Surmodics
,
Inc.
(a)
...................
1,590
88,404
Tactile
Systems
Technology,
Inc.
(a)
.......
2,366
105,169
Talis
Biomedical
Corp.
(a)
..............
1,225
7,656
TransMedics
Group,
Inc.
(a)
.............
3,161
104,597
Treace
Medical
Concepts,
Inc.
(a)
.........
1,304
35,078
Utah
Medical
Products,
Inc.
............
456
42,335
Vapotherm
,
Inc.
(a)
...................
2,658
59,194
Varex
Imaging
Corp.
(a)
...............
4,501
126,928
ViewRay
,
Inc.
(a)
....................
17,061
123,010
Zynex
,
Inc.
(a)
......................
2,065
23,520
12,404,049
Health
Care
Providers
&
Services
—
3.0%
1Life
Healthcare,
Inc.
(a)
...............
13,908
281,637
Accolade,
Inc.
(a)
....................
6,005
253,231
AdaptHealth
Corp.
(a)(b)
................
8,434
196,428
Addus
HomeCare
Corp.
(a)
.............
1,865
148,734
Agiliti
,
Inc.
(a)
......................
2,696
51,332
Alignment
Healthcare,
Inc.
(a)(b)
..........
3,142
50,209
AMN
Healthcare
Services,
Inc.
(a)
.........
5,531
634,682
Apollo
Medical
Holdings,
Inc.
(a)
..........
4,433
403,625
Apria,
Inc.
(a)(b)
.....................
1,776
65,978
Aveanna
Healthcare
Holdings,
Inc.
(a)
......
4,603
36,916
Biodesix
,
Inc.
(a)
....................
1,465
12,042
Brookdale
Senior
Living,
Inc.
(a)
..........
22,076
139,079
Castle
Biosciences,
Inc.
(a)
.............
2,541
168,976
Community
Health
Systems,
Inc.
(a)
.......
14,822
173,417
CorVel
Corp.
(a)
.....................
1,059
197,207
Covetrus
,
Inc.
(a)
....................
12,346
223,956
Cross
Country
Healthcare,
Inc.
(a)
........
4,089
86,850
Ensign
Group,
Inc.
(The)
..............
6,184
463,120
Exagen
,
Inc.
(a)
.....................
1,395
18,972
BlackRock
Small
Cap
Index
V.I.
Fund
11
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Health
Care
Providers
&
Services
(continued)
Fulgent
Genetics,
Inc.
(a)
..............
2,420
$
217,679
Hanger,
Inc.
(a)
.....................
4,420
97,063
HealthEquity
,
Inc.
(a)
..................
9,627
623,445
InfuSystem
Holdings,
Inc.
(a)
............
2,397
31,233
Innovage
Holding
Corp.
(a)
.............
2,186
14,449
Joint
Corp.
(The)
(a)(b)
.................
1,617
158,498
LHC
Group,
Inc.
(a)
..................
3,594
563,935
LifeStance
Health
Group,
Inc.
(a)(b)
........
5,463
79,213
Magellan
Health,
Inc.
(a)
...............
2,749
259,918
MEDNAX,
Inc.
(a)
....................
9,081
258,173
ModivCare
,
Inc.
(a)
...................
1,473
267,526
National
HealthCare
Corp.
.............
1,502
105,110
National
Research
Corp.
..............
1,716
72,364
Ontrak
,
Inc.
(a)
.....................
1,057
10,612
Option
Care
Health,
Inc.
(a)
.............
17,616
427,364
Owens
&
Minor,
Inc.
(b)
................
8,653
270,752
Patterson
Cos.,
Inc.
(b)
................
9,891
298,115
Pennant
Group,
Inc.
(The)
(a)
............
3,078
86,461
PetIQ
,
Inc.
(a)
......................
3,149
78,631
Privia
Health
Group,
Inc.
(a)
.............
2,339
55,107
Progyny
,
Inc.
(a)(b)
...................
7,346
411,376
R1
RCM,
Inc.
(a)
....................
13,982
307,744
RadNet
,
Inc.
(a)
.....................
5,184
151,943
Select
Medical
Holdings
Corp.
..........
13,004
470,355
Sharps
Compliance
Corp.
(a)
............
1,721
14,233
SOC
Telemed
,
Inc.
(a)
.................
4,883
11,036
Surgery
Partners,
Inc.
(a)
..............
3,781
160,088
Tenet
Healthcare
Corp.
(a)
..............
12,500
830,500
Tivity
Health,
Inc.
(a)
..................
5,047
116,384
Triple-S
Management
Corp.,
Class
B
(a)(e)
...
2,677
94,685
US
Physical
Therapy,
Inc.
(b)
............
1,542
170,545
Viemed
Healthcare,
Inc.
(a)
.............
4,574
25,386
10,346,314
Health
Care
Technology
—
1.3%
Allscripts
Healthcare
Solutions,
Inc.
(a)
.....
14,587
195,028
American
Well
Corp.,
Class
A
(a)(b)
........
21,548
196,302
Castlight
Health,
Inc.,
Class
B
(a)
.........
14,244
22,363
Computer
Programs
&
Systems,
Inc.
(a)
.....
1,726
61,204
Evolent
Health,
Inc.,
Class
A
(a)
..........
9,122
282,782
Forian
,
Inc.
(a)
......................
2,165
22,343
Health
Catalyst,
Inc.
(a)(b)
...............
5,901
295,109
HealthStream
,
Inc.
(a)
.................
2,974
84,997
iCAD
,
Inc.
(a)
.......................
2,620
28,165
Inovalon
Holdings,
Inc.,
Class
A
(a)
........
8,755
352,739
Inspire
Medical
Systems,
Inc.
(a)
.........
3,165
737,065
Multiplan
Corp.,
Class
A
(a)
.............
26,720
150,434
NantHealth
,
Inc.
(a)
..................
3,558
5,728
NextGen
Healthcare,
Inc.
(a)
............
6,989
98,545
Omnicell
,
Inc.
(a)
....................
5,064
751,650
OptimizeRx
Corp.
(a)
.................
2,016
172,469
Phreesia
,
Inc.
(a)
....................
5,752
354,898
Schrodinger,
Inc.
(a)
..................
5,405
295,545
Simulations
Plus,
Inc.
................
1,835
72,482
Tabula
Rasa
HealthCare,
Inc.
(a)
.........
2,751
72,104
Vocera
Communications,
Inc.
(a)(b)
........
4,059
185,740
4,437,692
Hotels,
Restaurants
&
Leisure
—
2.5%
Accel
Entertainment,
Inc.
(a)
............
6,784
82,358
Bally's
Corp.
(a)(b)
....................
3,895
195,295
Biglari
Holdings,
Inc.,
Class
B
(a)
.........
133
22,851
BJ's
Restaurants,
Inc.
(a)
...............
2,674
111,666
Bloomin
'
Brands,
Inc.
(a)
...............
10,444
261,100
Bluegreen
Vacations
Holding
Corp.
(a)
......
1,668
43,034
Brinker
International,
Inc.
(a)
............
5,385
264,134
Security
Shares
Shares
Value
Hotels,
Restaurants
&
Leisure
(continued)
Carrols
Restaurant
Group,
Inc.
..........
4,613
$
16,884
Century
Casinos,
Inc.
(a)
...............
3,588
48,330
Cheesecake
Factory,
Inc.
(The)
(a)(b)
.......
5,129
241,063
Chuy's
Holdings,
Inc.
(a)
...............
2,210
69,681
Cracker
Barrel
Old
Country
Store,
Inc.
(b)
...
2,830
395,747
Dave
&
Buster's
Entertainment,
Inc.
(a)
.....
5,156
197,630
Del
Taco
Restaurants,
Inc.
.............
3,868
33,768
Denny's
Corp.
(a)
....................
7,572
123,727
Dine
Brands
Global,
Inc.
(a)
.............
1,874
152,188
Drive
Shack,
Inc.
(a)
..................
9,854
27,690
El
Pollo
Loco
Holdings,
Inc.
(a)
...........
2,146
36,267
Esports
Technologies,
Inc.
(a)
............
1,303
43,742
Everi
Holdings,
Inc.
(a)
................
10,229
247,337
F45
Training
Holdings,
Inc.
(a)
...........
2,412
36,084
Fiesta
Restaurant
Group,
Inc.
(a)
.........
1,866
20,451
Full
House
Resorts,
Inc.
(a)
.............
3,902
41,400
GAN
Ltd.
(a)(e)
......................
4,785
71,153
Golden
Entertainment,
Inc.
(a)
...........
2,047
100,487
Golden
Nugget
Online
Gaming,
Inc.
(a)
.....
4,695
81,552
Hall
of
Fame
Resort
&
Entertainment
Co.
(a)
..
6,558
17,379
Hilton
Grand
Vacations,
Inc.
(a)
..........
9,983
474,891
International
Game
Technology
plc
(a)
......
11,728
308,681
Jack
in
the
Box,
Inc.
.................
2,568
249,943
Krispy
Kreme,
Inc.
(a)(b)
................
2,585
36,190
Kura
Sushi
USA,
Inc.,
Class
A
(a)
.........
452
19,743
Lindblad
Expeditions
Holdings,
Inc.
(a)
......
3,333
48,629
Monarch
Casino
&
Resort,
Inc.
(a)
.........
1,525
102,160
Nathan's
Famous,
Inc.
...............
366
22,388
NeoGames
SA
(a)(e)
..................
666
24,456
Noodles
&
Co.
(a)
....................
5,120
60,416
ONE
Group
Hospitality,
Inc.
(The)
(a)
.......
2,331
24,918
Papa
John's
International,
Inc.
(b)
.........
3,862
490,435
PlayAGS
,
Inc.
(a)
....................
3,591
28,297
RCI
Hospitality
Holdings,
Inc.
...........
962
65,907
Red
Robin
Gourmet
Burgers,
Inc.
(a)
.......
2,011
46,374
Red
Rock
Resorts,
Inc.,
Class
A
(a)
........
7,355
376,723
Rush
Street
Interactive,
Inc.
(a)
..........
6,242
119,909
Ruth's
Hospitality
Group,
Inc.
(a)
..........
4,161
86,174
Scientific
Games
Corp.,
Class
A
(a)
........
11,318
940,186
SeaWorld
Entertainment,
Inc.
(a)
.........
6,071
335,848
Shake
Shack,
Inc.,
Class
A
(a)
...........
4,381
343,733
Target
Hospitality
Corp.
(a)
.............
4,408
16,442
Texas
Roadhouse,
Inc.
...............
8,239
752,468
Wingstop
,
Inc.
.....................
3,501
573,919
8,531,828
Household
Durables
—
1.8%
Aterian
,
Inc.
(a)(b)
....................
2,360
25,559
Bassett
Furniture
Industries,
Inc.
........
1,111
20,120
Beazer
Homes
USA,
Inc.
(a)
............
3,274
56,477
Casper
Sleep,
Inc.
(a)
.................
4,414
18,848
Cavco
Industries,
Inc.
(a)
...............
1,087
257,336
Century
Communities,
Inc.
............
3,554
218,393
Ethan
Allen
Interiors,
Inc.
.............
2,630
62,331
Flexsteel
Industries,
Inc.
(b)
.............
792
24,457
GoPro,
Inc.,
Class
A
(a)
................
15,442
144,537
Green
Brick
Partners,
Inc.
(a)
............
3,703
75,986
Hamilton
Beach
Brands
Holding
Co.,
Class
A
1,018
15,952
Helen
of
Troy
Ltd.
(a)
.................
2,837
637,417
Hooker
Furnishings
Corp.
.............
1,244
33,576
Hovnanian
Enterprises,
Inc.,
Class
A
(a)
.....
610
58,798
Installed
Building
Products,
Inc.
.........
2,749
294,555
iRobot
Corp.
(a)(b)
....................
3,302
259,207
KB
Home
........................
9,852
383,440
Landsea
Homes
Corp.
(a)
..............
1,327
11,492
La-Z-Boy,
Inc.
.....................
5,154
166,113
BlackRock
Small
Cap
Index
V.I.
Fund
12
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Household
Durables
(continued)
Legacy
Housing
Corp.
(a)
..............
963
$
17,305
LGI
Homes,
Inc.
(a)(b)
.................
2,577
365,702
Lifetime
Brands,
Inc.
.................
1,738
31,614
Lovesac
Co.
(The)
(a)
.................
1,524
100,721
M/I
Homes,
Inc.
(a)
...................
3,362
194,324
MDC
Holdings,
Inc.
.................
6,715
313,725
Meritage
Homes
Corp.
(a)
..............
4,412
427,964
Purple
Innovation,
Inc.
(a)
..............
6,778
142,474
Skyline
Champion
Corp.
(a)(b)
............
6,267
376,396
Snap
One
Holdings
Corp.
(a)
............
1,563
26,055
Sonos
,
Inc.
(a)
......................
14,152
457,959
Taylor
Morrison
Home
Corp.
(a)(b)
.........
14,358
370,149
Traeger
,
Inc.
(a)
.....................
2,655
55,569
TRI
Pointe
Homes,
Inc.
(a)
..............
13,300
279,566
Tupperware
Brands
Corp.
(a)
............
5,798
122,454
Universal
Electronics,
Inc.
(a)
............
1,564
77,027
VOXX
International
Corp.
(a)
............
1,776
20,335
Vuzix
Corp.
(a)(b)
....................
7,000
73,220
Weber,
Inc.,
Class
A
(a)(b)
...............
2,002
35,215
6,252,368
Household
Products
—
0.3%
Central
Garden
&
Pet
Co.
(a)
............
1,288
61,824
Central
Garden
&
Pet
Co.,
Class
A
(a)
......
4,868
209,324
Energizer
Holdings,
Inc.
..............
8,120
317,086
Oil-
Dri
Corp.
of
America
..............
656
22,960
WD-40
Co.
.......................
1,584
366,664
977,858
Independent
Power
and
Renewable
Electricity
Producers
—
0.3%
Clearway
Energy,
Inc.
................
4,103
115,705
Clearway
Energy,
Inc.,
Class
C
(b)
........
9,789
296,313
Ormat
Technologies,
Inc.
(b)
............
5,272
351,168
Sunnova
Energy
International,
Inc.
(a)
......
9,976
328,609
1,091,795
Industrial
Conglomerates
—
0.1%
Raven
Industries,
Inc.
................
4,255
245,131
Insurance
—
1.8%
Ambac
Financial
Group,
Inc.
(a)
..........
5,411
77,486
American
Equity
Investment
Life
Holding
Co.
9,737
287,923
American
National
Group,
Inc.
..........
889
168,048
AMERISAFE,
Inc.
..................
2,218
124,563
Argo
Group
International
Holdings
Ltd.
....
3,782
197,496
Bright
Health
Group,
Inc.
(a)
.............
6,246
50,967
BRP
Group,
Inc.,
Class
A
(a)
............
5,506
183,295
Citizens,
Inc.
(a)
.....................
6,570
40,800
CNO
Financial
Group,
Inc.
(b)
...........
15,012
353,382
Crawford
&
Co.,
Class
A
..............
2,073
18,595
Donegal
Group,
Inc.,
Class
A
...........
2,010
29,125
eHealth,
Inc.
(a)
.....................
2,912
117,936
Employers
Holdings,
Inc.
..............
3,300
130,317
Enstar
Group
Ltd.
(a)
.................
1,461
342,941
Genworth
Financial,
Inc.,
Class
A
(a)
.......
61,267
229,751
Goosehead
Insurance,
Inc.,
Class
A
(b)
.....
2,112
321,636
Greenlight
Capital
Re
Ltd.,
Class
A
(a)
......
2,557
18,896
HCI
Group,
Inc.
....................
668
73,994
Heritage
Insurance
Holdings,
Inc.
........
2,379
16,201
Horace
Mann
Educators
Corp.
..........
4,848
192,902
Independence
Holding
Co.
............
445
22,068
Investors
Title
Co.
..................
172
31,407
James
River
Group
Holdings
Ltd.
........
3,796
143,223
Kinsale
Capital
Group,
Inc.
............
2,561
414,114
Maiden
Holdings
Ltd.
(a)
...............
8,292
26,203
MBIA,
Inc.
(a)
......................
5,521
70,945
MetroMile
,
Inc.
(a)
...................
4,380
15,549
Security
Shares
Shares
Value
Insurance
(continued)
National
Western
Life
Group,
Inc.,
Class
A
..
298
$
62,756
NI
Holdings,
Inc.
(a)
..................
801
14,066
Palomar
Holdings,
Inc.
(a)
..............
2,931
236,913
ProAssurance
Corp.
.................
6,229
148,126
RLI
Corp.
........................
4,674
468,662
Safety
Insurance
Group,
Inc.
...........
1,721
136,389
Selective
Insurance
Group,
Inc.
.........
6,957
525,462
Selectquote
,
Inc.
(a)
..................
15,449
199,756
SiriusPoint
Ltd.
(a)(e)
..................
10,623
98,369
State
Auto
Financial
Corp.
.............
2,078
105,874
Stewart
Information
Services
Corp.
.......
3,201
202,495
Tiptree,
Inc.
......................
3,208
32,144
Trean
Insurance
Group,
Inc.
(a)
..........
2,154
22,294
Trupanion
,
Inc.
(a)(b)
..................
4,551
353,476
United
Fire
Group,
Inc.
...............
2,555
59,020
United
Insurance
Holdings
Corp.
........
2,729
9,906
Universal
Insurance
Holdings,
Inc.
.......
3,335
43,488
6,418,959
Interactive
Media
&
Services
—
0.4%
(a)
Cargurus
,
Inc.
(b)
....................
11,159
350,504
Cars.com,
Inc.
.....................
7,880
99,682
Eventbrite,
Inc.,
Class
A
..............
8,953
169,301
EverQuote
,
Inc.,
Class
A
..............
2,254
41,992
fuboTV
,
Inc.
......................
15,304
366,684
Liberty
TripAdvisor
Holdings,
Inc.,
Class
A
..
9,645
29,803
MediaAlpha
,
Inc.,
Class
A
.............
2,471
46,158
QuinStreet
,
Inc.
....................
5,922
103,991
TrueCar
,
Inc.
......................
11,422
47,516
Yelp,
Inc.
........................
8,347
310,842
1,566,473
Internet
&
Direct
Marketing
Retail
—
0.8%
1-800-Flowers.com,
Inc.,
Class
A
(a)
.......
3,264
99,585
CarParts.com,
Inc.
(a)(b)
................
5,652
88,228
Duluth
Holdings,
Inc.,
Class
B
(a)
.........
1,141
15,552
Groupon,
Inc.
(a)
....................
2,629
59,967
Lands'
End,
Inc.
(a)
..................
1,728
40,677
Liquidity
Services,
Inc.
(a)
..............
3,171
68,525
Overstock.com,
Inc.
(a)(b)
...............
5,060
394,275
PetMed
Express,
Inc.
(b)
...............
2,238
60,135
Porch
Group,
Inc.
(a)(b)
................
9,074
160,428
Quotient
Technology,
Inc.
(a)
............
10,746
62,542
RealReal
,
Inc.
(The)
(a)
................
9,379
123,615
Revolve
Group,
Inc.,
Class
A
(a)(b)
.........
4,284
264,623
Shutterstock
,
Inc.
...................
2,728
309,137
Stamps.com,
Inc.
(a)
..................
2,094
690,580
Stitch
Fix,
Inc.,
Class
A
(a)
..............
7,048
281,568
Xometry
,
Inc.,
Class
A
(a)
..............
949
54,729
2,774,166
IT
Services
—
1.5%
BigCommerce
Holdings,
Inc.
(a)
..........
5,605
283,837
Brightcove
,
Inc.
(a)
...................
5,141
59,327
Cantaloupe,
Inc.
(a)(b)
.................
6,951
74,932
Cass
Information
Systems,
Inc.
.........
1,674
70,057
Conduent
,
Inc.
(a)
...................
19,803
130,502
CSG
Systems
International,
Inc.
.........
3,946
190,197
DigitalOcean
Holdings,
Inc.
(a)(b)
..........
5,830
452,583
EVERTEC,
Inc.
(e)
...................
7,128
325,892
Evo
Payments,
Inc.,
Class
A
(a)
..........
5,634
133,413
ExlService
Holdings,
Inc.
(a)
............
3,834
472,042
Flywire
Corp.
(a)
....................
1,426
62,516
GreenBox
POS
(a)(b)
..................
2,072
17,177
GreenSky
,
Inc.,
Class
A
(a)
.............
8,321
93,029
Grid
Dynamics
Holdings,
Inc.
(a)
..........
4,959
144,902
BlackRock
Small
Cap
Index
V.I.
Fund
13
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
IT
Services
(continued)
Hackett
Group,
Inc.
(The)
.............
2,752
$
53,994
I3
Verticals,
Inc.,
Class
A
(a)
.............
2,627
63,600
IBEX
Holdings
Ltd.
(a)
.................
759
12,903
International
Money
Express,
Inc.
(a)
.......
3,565
59,535
Limelight
Networks,
Inc.
(a)
.............
16,277
38,739
LiveRamp
Holdings,
Inc.
(a)
.............
7,754
366,221
Maximus,
Inc.
.....................
7,218
600,538
MoneyGram
International,
Inc.
(a)
.........
9,391
75,316
Paya
Holdings,
Inc.,
Class
A
(a)
..........
9,807
106,602
Perficient
,
Inc.
(a)(b)
...................
3,883
449,263
Priority
Technology
Holdings,
Inc.
(a)
.......
801
5,351
Rackspace
Technology,
Inc.
(a)
..........
6,415
91,221
Repay
Holdings
Corp.
(a)(b)
.............
10,194
234,768
StarTek
,
Inc.
(a)
.....................
2,147
11,830
TTEC
Holdings,
Inc.
(b)
................
2,194
205,205
Tucows
,
Inc.,
Class
A
(a)
...............
1,089
85,977
Unisys
Corp.
(a)
.....................
7,794
195,941
Verra
Mobility
Corp.
(a)
................
15,587
234,896
5,402,306
Leisure
Products
—
0.5%
Acushnet
Holdings
Corp.
..............
4,128
192,778
American
Outdoor
Brands,
Inc.
(a)
........
1,842
45,239
AMMO,
Inc.
(a)(b)
....................
7,863
48,357
Callaway
Golf
Co.
(a)
.................
13,806
381,460
Clarus
Corp.
......................
2,888
74,019
Escalade,
Inc.
.....................
1,239
23,429
Genius
Brands
International,
Inc.
(a)
.......
33,666
45,786
Johnson
Outdoors,
Inc.,
Class
A
.........
636
67,289
Latham
Group,
Inc.
(a)
................
2,769
45,412
Malibu
Boats,
Inc.,
Class
A
(a)
...........
2,472
172,991
Marine
Products
Corp.
...............
684
8,557
MasterCraft
Boat
Holdings,
Inc.
(a)
........
2,213
55,502
Nautilus,
Inc.
(a)
.....................
3,299
30,714
Smith
&
Wesson
Brands,
Inc.
...........
5,641
117,107
Sturm
Ruger
&
Co.,
Inc.
..............
2,027
149,552
Vista
Outdoor,
Inc.
(a)
.................
6,767
272,778
1,730,970
Life
Sciences
Tools
&
Services
—
1.0%
(a)
Absci
Corp.
.......................
1,633
18,992
Akoya
Biosciences,
Inc.
..............
911
12,718
Alpha
Teknova
,
Inc.
.................
819
20,385
Berkeley
Lights,
Inc.
.................
5,719
111,864
Bionano
Genomics,
Inc.
(b)
.............
33,551
184,530
ChromaDex
Corp.
..................
5,439
34,102
Codex
DNA,
Inc.
...................
912
10,151
Codexis
,
Inc.
(b)
.....................
7,084
164,774
Cytek
Biosciences,
Inc.
...............
1,890
40,465
Fluidigm
Corp.
.....................
9,238
60,878
Harvard
Bioscience,
Inc.
..............
4,638
32,373
Inotiv
,
Inc.
........................
1,545
45,176
Medpace
Holdings,
Inc.
..............
3,412
645,823
NanoString
Technologies,
Inc.
..........
5,292
254,069
NeoGenomics
,
Inc.
.................
13,344
643,715
Pacific
Biosciences
of
California,
Inc.
.....
22,827
583,230
Personalis
,
Inc.
....................
4,247
81,712
Quanterix
Corp.
....................
3,681
183,277
Rapid
Micro
Biosystems
,
Inc.,
Class
A
.....
941
17,380
Seer,
Inc.
........................
4,897
169,093
Singular
Genomics
Systems,
Inc.
........
1,393
15,588
3,330,295
Machinery
—
3.9%
AgEagle
Aerial
Systems,
Inc.
(a)
..........
7,961
23,963
Alamo
Group,
Inc.
(b)
.................
1,186
165,483
Security
Shares
Shares
Value
Machinery
(continued)
Albany
International
Corp.,
Class
A
.......
3,671
$
282,190
Altra
Industrial
Motion
Corp.
...........
7,545
417,616
Astec
Industries,
Inc.
................
2,763
148,677
Barnes
Group,
Inc.
..................
5,550
231,601
Blue
Bird
Corp.
(a)
...................
1,694
35,337
Chart
Industries,
Inc.
(a)
...............
4,298
821,391
CIRCOR
International,
Inc.
(a)
...........
2,124
70,113
Columbus
McKinnon
Corp.
............
3,321
160,570
Commercial
Vehicle
Group,
Inc.
(a)
........
3,823
36,166
Desktop
Metal,
Inc.,
Class
A
(a)
..........
17,744
127,224
Douglas
Dynamics,
Inc.
..............
2,622
95,179
Energy
Recovery,
Inc.
(a)
..............
5,079
96,653
Enerpac
Tool
Group
Corp.
(b)
............
7,030
145,732
EnPro
Industries,
Inc.
................
2,449
213,357
ESCO
Technologies,
Inc.
.............
3,037
233,849
Evoqua
Water
Technologies
Corp.
(a)
......
13,529
508,149
ExOne
Co.
(The)
(a)
..................
1,831
42,809
Federal
Signal
Corp.
................
7,092
273,893
Franklin
Electric
Co.,
Inc.
.............
5,532
441,730
Gorman-Rupp
Co.
(The)
(b)
.............
2,709
97,009
Greenbrier
Cos.,
Inc.
(The)
(b)
...........
3,729
160,310
Helios
Technologies,
Inc.
(b)
............
3,806
312,511
Hillenbrand,
Inc.
...................
8,587
366,235
Hydrofarm
Holdings
Group,
Inc.
(a)
........
4,581
173,391
Hyliion
Holdings
Corp.,
Class
A
(a)
........
13,984
117,466
Hyster
-Yale
Materials
Handling,
Inc.
......
1,227
61,669
Ideanomics
,
Inc.
(a)(b)
.................
48,734
96,006
John
Bean
Technologies
Corp.
..........
3,672
516,100
Kadant
,
Inc.
......................
1,356
276,760
Kennametal,
Inc.
...................
9,839
336,789
Lindsay
Corp.
.....................
1,300
197,327
Luxfer
Holdings
plc
(e)
................
3,156
61,952
Lydall
,
Inc.
(a)
......................
2,072
128,650
Manitowoc
Co.,
Inc.
(The)
(a)
............
3,913
83,816
Mayville
Engineering
Co.,
Inc.
(a)
.........
1,380
25,944
Meritor,
Inc.
(a)
.....................
7,986
170,182
Miller
Industries,
Inc.
................
1,464
49,834
Mueller
Industries,
Inc.
...............
6,554
269,369
Mueller
Water
Products,
Inc.,
Class
A
(b)
....
18,440
280,657
Nikola
Corp.
(a)
.....................
26,483
282,574
NN,
Inc.
(a)
........................
4,836
25,389
Omega
Flex,
Inc.
(b)
..................
375
53,509
Park-Ohio
Holdings
Corp.
.............
985
25,137
Proto
Labs,
Inc.
(a)
...................
3,307
220,246
RBC
Bearings,
Inc.
(a)
................
3,291
698,350
REV
Group,
Inc.
...................
3,482
59,751
Rexnord
Corp.
.....................
14,283
918,254
Shyft
Group,
Inc.
(The)
...............
4,015
152,610
SPX
Corp.
(a)
......................
5,121
273,717
SPX
FLOW,
Inc.
(b)
..................
4,892
357,605
Standex
International
Corp.
............
1,381
136,595
Tennant
Co.
......................
2,187
161,729
Terex
Corp.
.......................
8,054
339,073
Titan
International,
Inc.
(a)
..............
6,023
43,125
TriMas
Corp.
(a)
.....................
5,245
169,728
Trinity
Industries,
Inc.
(b)
...............
9,275
252,002
Wabash
National
Corp.
...............
6,059
91,673
Watts
Water
Technologies,
Inc.,
Class
A
....
3,221
541,418
Welbilt
,
Inc.
(a)
......................
15,588
362,265
13,518,409
Marine
—
0.2%
Costamare
,
Inc.
(e)
...................
5,711
88,463
Eagle
Bulk
Shipping,
Inc.
(a)
............
842
42,454
Genco
Shipping
&
Trading
Ltd.
..........
3,832
77,138
Matson,
Inc.
......................
5,057
408,150
BlackRock
Small
Cap
Index
V.I.
Fund
14
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Marine
(continued)
Safe
Bulkers,
Inc.
(a)(e)
................
7,634
$
39,468
655,673
Media
—
1.2%
Advantage
Solutions,
Inc.,
Class
A
(a)
......
9,113
78,827
AMC
Networks,
Inc.,
Class
A
(a)
..........
3,512
163,624
Boston
Omaha
Corp.,
Class
A
(a)
.........
2,079
80,624
Cardlytics,
Inc.
(a)
...................
3,814
320,147
Clear
Channel
Outdoor
Holdings,
Inc.
(a)
....
43,322
117,403
comScore,
Inc.
(a)
...................
7,824
30,514
Daily
Journal
Corp.
(a)
................
153
49,017
Digital
Media
Solutions,
Inc.,
Class
A
(a)(b)
...
1,111
8,055
Emerald
Holding,
Inc.
(a)
...............
2,520
10,937
Entercom
Communications
Corp.,
Class
A
(a)
.
14,559
53,577
Entravision
Communications
Corp.,
Class
A
.
7,780
55,238
EW
Scripps
Co.
(The),
Class
A
..........
7,028
126,926
Fluent,
Inc.
(a)
......................
4,481
10,172
Gannett
Co.,
Inc.
(a)
..................
15,986
106,786
Gray
Television,
Inc.
.................
10,125
231,053
Hemisphere
Media
Group,
Inc.
(a)
.........
2,141
26,077
iHeartMedia
,
Inc.,
Class
A
(a)
............
13,360
334,267
Integral
Ad
Science
Holding
Corp.
(a)
......
1,998
41,219
John
Wiley
&
Sons,
Inc.,
Class
A
........
5,148
268,777
Loral
Space
&
Communications,
Inc.
(b)(e)
...
1,511
64,988
Magnite
,
Inc.
(a)
.....................
15,282
427,896
Meredith
Corp.
(a)
...................
4,682
260,787
National
CineMedia
,
Inc.
..............
6,954
24,756
Scholastic
Corp.
...................
3,103
110,622
Sinclair
Broadcast
Group,
Inc.,
Class
A
(b)
...
5,319
168,506
Stagwell
,
Inc.
(a)
....................
7,455
57,180
TechTarget
,
Inc.
(a)
...................
2,958
243,798
TEGNA,
Inc.
......................
25,783
508,441
Thryv
Holdings,
Inc.
(a)
................
772
23,191
WideOpenWest
,
Inc.
(a)
...............
6,242
122,655
4,126,060
Metals
&
Mining
—
1.2%
Allegheny
Technologies,
Inc.
(a)
..........
15,141
251,795
Arconic
Corp.
(a)
....................
13,169
415,350
Carpenter
Technology
Corp.
...........
5,773
189,008
Century
Aluminum
Co.
(a)
..............
6,137
82,543
Coeur
Mining,
Inc.
(a)
.................
28,698
177,067
Commercial
Metals
Co.
...............
13,977
425,739
Compass
Minerals
International,
Inc.
......
4,068
261,979
Constellium
SE,
Class
A
(a)
.............
14,644
275,014
Gatos
Silver,
Inc.
(a)
..................
5,460
63,500
Haynes
International,
Inc.
.............
1,372
51,107
Hecla
Mining
Co.
(b)
..................
62,567
344,119
Kaiser
Aluminum
Corp.
...............
1,906
207,678
Materion
Corp.
....................
2,443
167,688
MP
Materials
Corp.,
Class
A
(a)
..........
8,702
280,465
Novagold
Resources,
Inc.
(a)(b)
...........
28,296
194,677
Olympic
Steel,
Inc.
..................
1,268
30,888
Perpetua
Resources
Corp.
(a)
...........
3,197
15,921
PolyMet
Mining
Corp.
(a)
...............
3,444
10,504
Ryerson
Holding
Corp.
...............
1,724
38,393
Schnitzer
Steel
Industries,
Inc.,
Class
A
....
2,967
129,984
SunCoke
Energy,
Inc.
................
9,308
58,454
TimkenSteel
Corp.
(a)
.................
5,216
68,225
Warrior
Met
Coal,
Inc.
................
6,058
140,970
Worthington
Industries,
Inc.
............
3,937
207,480
4,088,548
Mortgage
Real
Estate
Investment
Trusts
(REITs)
—
1.3%
AFC
Gamma,
Inc.
..................
865
18,667
Apollo
Commercial
Real
Estate
Finance,
Inc.
16,337
242,278
Security
Shares
Shares
Value
Mortgage
Real
Estate
Investment
Trusts
(REITs)
(continued)
Arbor
Realty
Trust,
Inc.
...............
15,254
$
282,657
Ares
Commercial
Real
Estate
Corp.
......
5,150
77,662
ARMOUR
Residential
REIT,
Inc.
(b)
.......
9,707
104,641
Blackstone
Mortgage
Trust,
Inc.,
Class
A
...
17,406
527,750
BrightSpire
Capital,
Inc.,
Class
A
........
10,167
95,468
Broadmark
Realty
Capital,
Inc.
..........
15,450
152,337
Capstead
Mortgage
Corp.
.............
10,957
73,302
Chimera
Investment
Corp.
(b)
............
27,490
408,227
Dynex
Capital,
Inc.
..................
3,626
62,657
Ellington
Financial,
Inc.
...............
5,384
98,473
Granite
Point
Mortgage
Trust,
Inc.
.......
6,283
82,747
Great
Ajax
Corp.
...................
2,702
36,450
Hannon
Armstrong
Sustainable
Infrastructure
Capital,
Inc.
(b)
...................
9,025
482,657
Invesco
Mortgage
Capital,
Inc.
(b)
.........
28,732
90,506
KKR
Real
Estate
Finance
Trust,
Inc.
(b)
.....
3,798
80,138
Ladder
Capital
Corp.
................
13,296
146,921
MFA
Financial,
Inc.
(b)
................
52,813
241,355
New
York
Mortgage
Trust,
Inc.
..........
43,925
187,121
Orchid
Island
Capital,
Inc.
(b)
............
12,909
63,125
PennyMac
Mortgage
Investment
Trust
.....
11,589
228,187
Ready
Capital
Corp.
.................
6,901
99,581
Redwood
Trust,
Inc.
.................
13,236
170,612
TPG
RE
Finance
Trust,
Inc.
............
7,288
90,225
Two
Harbors
Investment
Corp.
(b)
.........
37,508
237,801
4,381,545
Multiline
Retail
—
0.4%
Big
Lots,
Inc.
......................
4,142
179,597
Dillard's,
Inc.,
Class
A
(b)
...............
697
120,246
Franchise
Group,
Inc.
................
3,380
119,686
Macy's,
Inc.
......................
36,976
835,658
1,255,187
Multi-Utilities
—
0.3%
Avista
Corp.
......................
8,161
319,258
Black
Hills
Corp.
...................
7,421
465,742
NorthWestern
Corp.
(b)
................
6,060
347,238
Unitil
Corp.
.......................
1,734
74,181
1,206,419
Oil,
Gas
&
Consumable
Fuels
—
3.6%
Aemetis
,
Inc.
(a)
.....................
2,768
50,599
Alto
Ingredients,
Inc.
(a)(b)
..............
8,531
42,143
Altus
Midstream
Co.,
Class
A
...........
389
26,853
Antero
Resources
Corp.
(a)
.............
33,491
629,966
Arch
Resources,
Inc.
(a)(b)
..............
1,775
164,631
Berry
Corp.
.......................
7,488
53,988
Bonanza
Creek
Energy,
Inc.
(b)
..........
3,681
176,320
Brigham
Minerals,
Inc.,
Class
A
(b)
........
5,428
104,000
California
Resources
Corp.
(a)
...........
9,724
398,684
Callon
Petroleum
Co.
(a)
...............
4,759
233,572
Centennial
Resource
Development,
Inc.,
Class
A
(a)
..........................
21,599
144,713
Centrus
Energy
Corp.,
Class
A
(a)
.........
1,127
43,570
Chesapeake
Energy
Corp.
............
11,628
716,169
Clean
Energy
Fuels
Corp.
(a)
............
17,239
140,498
CNX
Resources
Corp.
(a)
..............
25,241
318,541
Comstock
Resources,
Inc.
(a)
............
10,924
113,063
CONSOL
Energy,
Inc.
(a)
..............
3,650
94,973
Contango
Oil
&
Gas
Co.
(a)
.............
17,521
80,071
CVR
Energy,
Inc.
...................
3,889
64,791
Delek
US
Holdings,
Inc.
..............
7,967
143,167
Denbury,
Inc.
(a)
....................
6,019
422,835
DHT
Holdings,
Inc.
(b)
.................
17,440
113,883
Dorian
LPG
Ltd.
....................
3,612
44,825
BlackRock
Small
Cap
Index
V.I.
Fund
15
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Oil,
Gas
&
Consumable
Fuels
(continued)
Earthstone
Energy,
Inc.,
Class
A
(a)
.......
2,568
$
23,626
Energy
Fuels,
Inc.
(a)
.................
16,939
118,912
Equitrans
Midstream
Corp.
............
48,789
494,720
Extraction
Oil
&
Gas,
Inc.
(a)
............
1,865
105,279
Falcon
Minerals
Corp.
................
5,943
27,932
Frontline
Ltd.
(e)
....................
13,916
130,393
Gevo
,
Inc.
(a)(b)
.....................
23,282
154,592
Golar
LNG
Ltd.
(a)(e)
..................
11,759
152,514
Green
Plains,
Inc.
(a)
.................
4,336
141,570
HighPeak
Energy,
Inc.
...............
1,115
10,035
International
Seaways,
Inc.
............
4,978
90,699
Kosmos
Energy
Ltd.
(a)(e)
...............
46,189
136,719
Laredo
Petroleum,
Inc.
(a)
..............
1,501
121,686
Magnolia
Oil
&
Gas
Corp.,
Class
A
.......
16,609
295,474
Matador
Resources
Co.
..............
13,211
502,546
Murphy
Oil
Corp.
...................
17,482
436,526
Nordic
American
Tankers
Ltd.
(b)
.........
18,951
48,515
Northern
Oil
and
Gas,
Inc.
(b)
............
5,706
122,108
Oasis
Petroleum,
Inc.
................
2,407
239,304
Ovintiv
,
Inc.
.......................
30,851
1,014,381
Par
Pacific
Holdings,
Inc.
(a)
............
5,308
83,442
PBF
Energy,
Inc.,
Class
A
(a)(b)
...........
11,435
148,312
PDC
Energy,
Inc.
...................
11,608
550,103
Peabody
Energy
Corp.
(a)
..............
9,476
140,150
Penn
Virginia
Corp.
(a)
................
1,979
52,780
Range
Resources
Corp.
(a)(b)
............
27,958
632,690
Renewable
Energy
Group,
Inc.
(a)
........
5,269
264,504
REX
American
Resources
Corp.
(a)
.......
646
51,596
Riley
Exploration
Permian,
Inc.
..........
273
6,410
Scorpio
Tankers,
Inc.
(b)(e)
..............
5,818
107,866
SFL
Corp.
Ltd.
(e)
...................
11,099
93,010
SM
Energy
Co.
....................
13,886
366,313
Southwestern
Energy
Co.
(a)
............
79,761
441,876
Talos
Energy,
Inc.
(a)
.................
4,398
60,560
Teekay
Corp.
(a)(e)
...................
8,284
30,319
Teekay
Tankers
Ltd.,
Class
A
(a)(e)
.........
2,845
41,338
Tellurian,
Inc.
(a)
....................
37,809
147,833
Uranium
Energy
Corp.
(a)
..............
28,312
86,352
Ur-Energy,
Inc.
(a)
...................
21,583
37,123
Vine
Energy,
Inc.,
Class
A
(a)
............
2,460
40,516
W&T
Offshore,
Inc.
(a)
................
12,705
47,263
Whiting
Petroleum
Corp.
(a)
.............
4,699
274,469
World
Fuel
Services
Corp.
.............
7,355
247,275
12,641,486
Paper
&
Forest
Products
—
0.2%
Clearwater
Paper
Corp.
(a)
.............
1,927
73,862
Domtar
Corp.
(a)(b)
...................
5,963
325,222
Glatfelter
Corp.
....................
5,305
74,800
Neenah,
Inc.
......................
1,876
87,440
Schweitzer-Mauduit
International,
Inc.
.....
3,739
129,594
Verso
Corp.,
Class
A
................
3,358
69,679
760,597
Personal
Products
—
0.5%
Beauty
Health
Co.
(The),
Class
A
(a)
.......
10,263
266,530
BellRing
Brands,
Inc.,
Class
A
(a)
.........
4,729
145,417
Edgewell
Personal
Care
Co.
...........
6,333
229,888
elf
Beauty,
Inc.
(a)
...................
5,405
157,015
Honest
Co.,
Inc.
(The)
(a)
..............
2,962
30,745
Inter
Parfums
,
Inc.
..................
2,139
159,933
Medifast
,
Inc.
(b)
....................
1,371
264,109
Nature's
Sunshine
Products,
Inc.
........
1,161
17,009
Nu
Skin
Enterprises,
Inc.,
Class
A
(b)
......
5,929
239,947
Revlon,
Inc.,
Class
A
(a)
...............
1,015
10,262
USANA
Health
Sciences,
Inc.
(a)
.........
1,466
135,165
Security
Shares
Shares
Value
Personal
Products
(continued)
Veru
,
Inc.
(a)
.......................
6,942
$
59,215
1,715,235
Pharmaceuticals
—
1.6%
9
Meters
Biopharma,
Inc.
(a)
............
25,349
32,954
Aclaris
Therapeutics,
Inc.
(a)
............
5,178
93,204
Aerie
Pharmaceuticals,
Inc.
(a)
...........
5,049
57,559
Amneal
Pharmaceuticals,
Inc.
(a)
.........
10,749
57,400
Amphastar
Pharmaceuticals,
Inc.
(a)
.......
4,144
78,777
Ampio
Pharmaceuticals,
Inc.
(a)(b)
.........
22,687
37,660
Angion
Biomedica
Corp.
(a)(b)
............
2,562
25,031
ANI
Pharmaceuticals,
Inc.
(a)
............
1,221
40,073
Antares
Pharma,
Inc.
(a)
...............
18,927
68,894
Arvinas
,
Inc.
(a)(b)
....................
5,097
418,872
Atea
Pharmaceuticals,
Inc.
(a)
...........
7,703
270,067
Athira
Pharma,
Inc.
(a)(b)
...............
3,847
36,085
Avalo
Therapeutics,
Inc.
(a)
.............
7,166
15,622
Axsome
Therapeutics,
Inc.
(a)
...........
3,314
109,229
BioDelivery
Sciences
International,
Inc.
(a)
...
11,301
40,797
Cara
Therapeutics,
Inc.
(a)
.............
5,604
86,582
Cassava
Sciences,
Inc.
(a)(b)
............
4,563
283,271
Citius
Pharmaceuticals,
Inc.
(a)
..........
13,544
27,494
Collegium
Pharmaceutical,
Inc.
(a)
........
4,395
86,757
Corcept
Therapeutics,
Inc.
(a)
...........
11,405
224,450
CorMedix
,
Inc.
(a)
....................
5,051
23,487
Cymabay
Therapeutics,
Inc.
(a)
..........
6,894
25,163
Cyteir
Therapeutics,
Inc.
(a)
.............
984
17,269
Durect
Corp.
(a)
.....................
24,081
30,824
Edgewise
Therapeutics,
Inc.
(a)
..........
1,472
24,435
Endo
International
plc
(a)
...............
28,139
91,170
Esperion
Therapeutics,
Inc.
(a)
...........
2,847
34,306
Evolus
,
Inc.
(a)
.....................
3,847
29,314
EyePoint
Pharmaceuticals,
Inc.
(a)
........
2,520
26,258
Fulcrum
Therapeutics,
Inc.
(a)
...........
2,945
83,078
Harmony
Biosciences
Holdings,
Inc.
(a)
.....
2,666
102,188
Ikena
Oncology,
Inc.
(a)
................
1,081
13,642
Innoviva
,
Inc.
(a)
....................
5,103
85,271
Intra-Cellular
Therapies,
Inc.
(a)
..........
8,430
314,270
Kala
Pharmaceuticals,
Inc.
(a)(b)
..........
7,157
18,751
Kaleido
Biosciences,
Inc.
(a)
............
3,195
17,445
KemPharm
,
Inc.
(a)
..................
3,409
31,806
Landos
Biopharma,
Inc.
(a)
.............
763
11,140
Marinus
Pharmaceuticals,
Inc.
(a)(b)
........
4,405
50,129
Mind
Medicine
MindMed
,
Inc.
(a)
.........
38,416
89,509
NGM
Biopharmaceuticals,
Inc.
(a)
.........
3,780
79,456
Nuvation
Bio,
Inc.,
Class
A
(a)
...........
7,851
78,039
Ocular
Therapeutix
,
Inc.
(a)
.............
8,761
87,610
Omeros
Corp.
(a)
....................
7,096
97,854
Oramed
Pharmaceuticals,
Inc.
(a)(e)
........
3,186
70,028
Pacira
BioSciences
,
Inc.
(a)
.............
5,082
284,592
Paratek
Pharmaceuticals,
Inc.
(a)
.........
5,304
25,777
Phathom
Pharmaceuticals,
Inc.
(a)
........
2,416
77,554
Phibro
Animal
Health
Corp.,
Class
A
......
2,371
51,071
Pliant
Therapeutics,
Inc.
(a)
.............
2,956
49,897
Prestige
Consumer
Healthcare,
Inc.
(a)
.....
5,914
331,835
Provention
Bio,
Inc.
(a)(b)
...............
6,145
39,328
Rain
Therapeutics,
Inc.
(a)(b)
.............
885
13,240
Reata
Pharmaceuticals,
Inc.,
Class
A
(a)
....
3,275
329,498
Relmada
Therapeutics,
Inc.
(a)
...........
1,548
40,573
Revance
Therapeutics,
Inc.
(a)
...........
8,373
233,272
Seelos
Therapeutics,
Inc.
(a)(b)
...........
9,043
21,794
SIGA
Technologies,
Inc.
(a)
.............
5,355
39,574
Supernus
Pharmaceuticals,
Inc.
(a)
........
5,859
156,260
Tarsus
Pharmaceuticals,
Inc.
(a)(b)
.........
1,130
24,352
Terns
Pharmaceuticals,
Inc.
(a)
...........
1,732
18,047
TherapeuticsMD
,
Inc.
(a)
...............
49,642
36,805
BlackRock
Small
Cap
Index
V.I.
Fund
16
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Pharmaceuticals
(continued)
Theravance
Biopharma,
Inc.
(a)
..........
6,397
$
47,338
Verrica
Pharmaceuticals,
Inc.
(a)
..........
1,738
21,725
WaVe
Life
Sciences
Ltd.
(a)
.............
4,026
19,727
Zogenix
,
Inc.
(a)
.....................
6,556
99,586
5,585,065
Professional
Services
—
1.7%
Acacia
Research
Corp.
(a)
..............
5,266
35,756
ASGN,
Inc.
(a)(b)
.....................
6,106
690,833
Barrett
Business
Services,
Inc.
..........
891
67,948
CBIZ,
Inc.
(a)
.......................
5,842
188,930
CRA
International,
Inc.
...............
841
83,545
Exponent,
Inc.
.....................
6,112
691,573
First
Advantage
Corp.
(a)
...............
3,483
66,351
Forrester
Research,
Inc.
(a)
.............
1,251
61,624
Franklin
Covey
Co.
(a)
................
1,417
57,799
GP
Strategies
Corp.
(a)
................
1,345
27,842
Heidrick
&
Struggles
International,
Inc.
....
2,229
99,480
Huron
Consulting
Group,
Inc.
(a)
..........
2,636
137,072
ICF
International,
Inc.
................
2,213
197,599
Insperity
,
Inc.
......................
4,276
473,524
KBR,
Inc.
........................
16,643
655,734
Kelly
Services,
Inc.,
Class
A
............
4,184
78,994
Kforce
,
Inc.
.......................
2,465
147,013
Korn
Ferry
.......................
6,369
460,861
ManTech
International
Corp.,
Class
A
(b)
....
3,227
244,994
Mistras
Group,
Inc.
(a)
................
2,325
23,622
Resources
Connection,
Inc.
............
3,476
54,851
TriNet
Group,
Inc.
(a)
.................
4,836
457,389
TrueBlue
,
Inc.
(a)
....................
4,215
114,142
Upwork
,
Inc.
(a)
.....................
13,879
624,971
Willdan
Group,
Inc.
(a)
................
1,339
47,655
5,790,102
Real
Estate
Management
&
Development
—
0.7%
Cushman
&
Wakefield
plc
(a)
............
16,329
303,883
eXp
World
Holdings,
Inc.
..............
7,404
294,457
Fathom
Holdings,
Inc.
(a)
..............
624
16,661
Forestar
Group,
Inc.
(a)
................
2,201
41,005
FRP
Holdings,
Inc.
(a)
.................
727
40,654
Kennedy-Wilson
Holdings,
Inc.
..........
14,326
299,700
Marcus
&
Millichap,
Inc.
(a)
.............
2,781
112,964
Newmark
Group,
Inc.,
Class
A
..........
17,493
250,325
Rafael
Holdings,
Inc.,
Class
B
(a)(b)
........
1,177
36,169
RE/MAX
Holdings,
Inc.,
Class
A
.........
2,229
69,456
Realogy
Holdings
Corp.
(a)
.............
13,503
236,842
Redfin
Corp.
(a)(b)
....................
11,915
596,941
RMR
Group,
Inc.
(The),
Class
A
.........
1,887
63,120
St.
Joe
Co.
(The)
...................
4,023
169,368
Tejon
Ranch
Co.
(a)
..................
2,243
39,836
2,571,381
Road
&
Rail
—
0.7%
ArcBest
Corp.
.....................
2,986
244,165
Avis
Budget
Group,
Inc.
(a)
.............
5,734
668,068
Covenant
Logistics
Group,
Inc.,
Class
A
(a)
..
1,391
38,461
Daseke
,
Inc.
(a)
.....................
4,242
39,069
Heartland
Express,
Inc.
...............
5,355
85,787
HyreCar
,
Inc.
(a)
....................
2,091
17,774
Marten
Transport
Ltd.
................
6,864
107,696
PAM
Transportation
Services,
Inc.
(a)
......
500
22,490
Saia,
Inc.
(a)
.......................
3,121
742,892
Universal
Logistics
Holdings,
Inc.
........
1,108
22,249
US
Xpress
Enterprises,
Inc.,
Class
A
(a)
.....
2,996
25,855
Werner
Enterprises,
Inc.
..............
7,376
326,536
Security
Shares
Shares
Value
Road
&
Rail
(continued)
Yellow
Corp.
(a)
.....................
6,005
$
33,928
2,374,970
Semiconductors
&
Semiconductor
Equipment
—
3.0%
Alpha
&
Omega
Semiconductor
Ltd.
(a)
.....
2,339
73,374
Ambarella
,
Inc.
(a)
...................
4,113
640,559
Amkor
Technology,
Inc.
...............
12,002
299,450
Atomera
,
Inc.
(a)(b)
...................
2,344
54,123
Axcelis
Technologies,
Inc.
(a)
............
3,783
177,914
AXT,
Inc.
(a)
.......................
5,162
42,999
CEVA,
Inc.
(a)
......................
2,732
116,574
CMC
Materials,
Inc.
(b)
................
3,485
429,457
Cohu
,
Inc.
(a)
......................
5,717
182,601
Diodes,
Inc.
(a)
.....................
5,184
469,619
DSP
Group,
Inc.
(a)
..................
2,886
63,232
FormFactor
,
Inc.
(a)
..................
9,011
336,381
Ichor
Holdings
Ltd.
(a)
.................
3,264
134,118
Impinj
,
Inc.
(a)
......................
2,279
130,199
Kopin
Corp.
(a)
.....................
9,257
47,488
Kulicke
&
Soffa
Industries,
Inc.
(b)(e)
........
7,158
417,168
Lattice
Semiconductor
Corp.
(a)
..........
15,973
1,032,654
MACOM
Technology
Solutions
Holdings,
Inc.
(a)
5,643
366,061
MaxLinear
,
Inc.
(a)
...................
8,439
415,621
Meta
Materials,
Inc.
(a)
................
25,783
149,026
NeoPhotonics
Corp.
(a)
................
6,505
56,659
NVE
Corp.
.......................
509
32,561
Onto
Innovation,
Inc.
(a)
...............
5,731
414,065
PDF
Solutions,
Inc.
(a)
................
3,268
75,295
Photronics
,
Inc.
(a)
...................
7,092
96,664
Power
Integrations,
Inc.
..............
7,106
703,423
Rambus,
Inc.
(a)
....................
12,767
283,427
Semtech
Corp.
(a)
...................
7,580
591,013
Silicon
Laboratories,
Inc.
(a)
.............
5,227
732,616
SiTime
Corp.
(a)
.....................
1,532
312,788
SkyWater
Technology,
Inc.
(a)
...........
938
25,514
SMART
Global
Holdings,
Inc.
(a)
..........
2,062
91,759
SunPower
Corp.
(a)
..................
9,277
210,402
Synaptics
,
Inc.
(a)
...................
4,153
746,419
Ultra
Clean
Holdings,
Inc.
(a)
............
5,254
223,820
Veeco
Instruments,
Inc.
(a)
.............
5,832
129,529
10,304,572
Software
—
6.4%
8x8,
Inc.
(a)
........................
12,698
297,006
A10
Networks,
Inc.
(a)
.................
6,828
92,041
ACI
Worldwide,
Inc.
(a)
................
13,847
425,518
Agilysys
,
Inc.
(a)
....................
2,294
120,114
Alarm.com
Holdings,
Inc.
(a)
............
5,511
430,905
Alkami
Technology,
Inc.
(a)
.............
831
20,509
Altair
Engineering,
Inc.,
Class
A
(a)
........
5,468
376,964
American
Software,
Inc.,
Class
A
........
3,885
92,269
Appfolio
,
Inc.,
Class
A
(a)
..............
2,235
269,094
Appian
Corp.
(a)
....................
4,587
424,343
Asana,
Inc.,
Class
A
(a)
................
8,703
903,720
Avaya
Holdings
Corp.
(a)
...............
9,845
194,833
Benefitfocus
,
Inc.
(a)
..................
2,979
33,067
Blackbaud
,
Inc.
(a)
...................
5,773
406,131
Blackline,
Inc.
(a)(b)
...................
6,314
745,431
Bottomline
Technologies
DE,
Inc.
(a)
.......
5,180
203,470
Box,
Inc.,
Class
A
(a)
.................
16,774
397,041
BTRS
Holdings,
Inc.,
Class
A
(a)
..........
7,616
81,034
Cerence
,
Inc.
(a)(b)
...................
4,413
424,133
ChannelAdvisor
Corp.
(a)
..............
3,326
83,915
Cleanspark
,
Inc.
(a)(b)
.................
3,905
45,259
Cloudera,
Inc.
(a)
....................
26,959
430,535
CommVault
Systems,
Inc.
(a)
............
5,394
406,222
BlackRock
Small
Cap
Index
V.I.
Fund
17
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Software
(continued)
Cornerstone
OnDemand
,
Inc.
(a)
.........
7,413
$
424,468
Couchbase
,
Inc.
(a)
..................
1,139
35,434
CS
Disco,
Inc.
(a)
....................
869
41,660
Digimarc
Corp.
(a)(b)
..................
1,488
51,247
Digital
Turbine,
Inc.
(a)
................
10,686
734,663
Domo,
Inc.,
Class
B
(a)
................
3,243
273,839
E2open
Parent
Holdings,
Inc.,
Class
A
(a)
...
19,098
215,807
Ebix
,
Inc.
(b)
.......................
3,026
81,490
eGain
Corp.
(a)
.....................
2,735
27,897
Envestnet
,
Inc.
(a)(b)
..................
6,439
516,665
EverCommerce
,
Inc.
(a)
...............
1,956
32,254
GTY
Technology
Holdings,
Inc.
(a)
........
3,839
28,869
Instructure
Holdings,
Inc.
(a)(b)
...........
1,410
31,852
Intapp
,
Inc.
(a)
......................
1,185
30,526
Intelligent
Systems
Corp.
(a)(b)
...........
947
38,458
InterDigital
,
Inc.
....................
3,709
251,544
j2
Global,
Inc.
(a)
....................
5,115
698,811
JFrog
Ltd.
(a)(b)(e)
....................
6,156
206,226
Kaltura
,
Inc.
(a)
.....................
2,049
21,084
LivePerson
,
Inc.
(a)
..................
7,718
454,976
Marathon
Digital
Holdings,
Inc.
(a)
.........
11,387
359,601
MeridianLink
,
Inc.
(a)
.................
1,489
33,294
MicroStrategy
,
Inc.,
Class
A
(a)
...........
919
531,550
Mimecast
Ltd.
(a)
....................
7,121
452,896
Mitek
Systems,
Inc.
(a)
................
5,055
93,518
Model
N,
Inc.
(a)
....................
4,086
136,881
Momentive
Global,
Inc.
(a)
..............
15,114
296,234
ON24,
Inc.
(a)
......................
3,165
63,110
OneSpan
,
Inc.
(a)
....................
4,331
81,336
PagerDuty
,
Inc.
(a)
...................
9,398
389,265
Ping
Identity
Holding
Corp.
(a)
...........
5,197
127,690
Progress
Software
Corp.
..............
5,238
257,657
PROS
Holdings,
Inc.
(a)
...............
4,768
169,169
Q2
Holdings,
Inc.
(a)
..................
6,435
515,701
QAD,
Inc.,
Class
A
..................
1,422
124,269
Qualys
,
Inc.
(a)
.....................
3,979
442,823
Rapid7,
Inc.
(a)
.....................
6,541
739,264
Rekor
Systems,
Inc.
(a)
................
3,743
43,007
Rimini
Street,
Inc.
(a)
.................
5,231
50,479
Riot
Blockchain
,
Inc.
(a)
................
10,057
258,465
Sailpoint
Technologies
Holdings,
Inc.
(a)
....
10,796
462,933
Sapiens
International
Corp.
NV
(e)
........
3,805
109,508
SecureWorks
Corp.,
Class
A
(a)
..........
1,142
22,703
ShotSpotter,
Inc.
(a)(b)
.................
1,098
39,934
Smith
Micro
Software,
Inc.
(a)(b)
..........
6,282
30,405
Sprout
Social,
Inc.,
Class
A
(a)
...........
5,270
642,677
SPS
Commerce,
Inc.
(a)(b)
..............
4,231
682,503
Sumo
Logic,
Inc.
(a)
..................
9,732
156,880
Telos
Corp.
(a)
......................
4,698
133,517
Tenable
Holdings,
Inc.
(a)
..............
10,600
489,084
Upland
Software,
Inc.
(a)
...............
3,315
110,854
Varonis
Systems,
Inc.
(a)(b)
..............
12,464
758,434
Verint
Systems,
Inc.
(a)
................
7,686
344,256
Veritone
,
Inc.
(a)
....................
3,243
77,475
Viant
Technology,
Inc.,
Class
A
(a)
.........
1,507
18,416
VirnetX
Holding
Corp.
(a)
...............
8,488
33,273
Vonage
Holdings
Corp.
(a)
..............
28,274
455,777
Workiva
,
Inc.
(a)(b)
...................
5,028
708,747
Xperi
Holding
Corp.
(b)
................
12,320
232,109
Yext
,
Inc.
(a)
.......................
13,171
158,447
Zix
Corp.
(a)(b)
......................
5,800
41,006
Zuora
,
Inc.,
Class
A
(a)
................
12,371
205,111
22,181,582
Security
Shares
Shares
Value
Specialty
Retail
—
2.5%
Aaron's
Co.,
Inc.
(The)
...............
4,046
$
111,427
Abercrombie
&
Fitch
Co.,
Class
A
(a)
.......
7,319
275,414
Academy
Sports
&
Outdoors,
Inc.
(a)
.......
9,244
369,945
American
Eagle
Outfitters,
Inc.
(b)
.........
17,913
462,155
America's
Car-Mart,
Inc.
(a)(b)
............
761
88,870
Arko
Corp.
(a)
......................
14,208
143,501
Asbury
Automotive
Group,
Inc.
(a)
.........
2,309
454,273
Barnes
&
Noble
Education,
Inc.
(a)
........
4,584
45,794
Bed
Bath
&
Beyond,
Inc.
(a)(b)
............
12,373
213,744
Big
5
Sporting
Goods
Corp.
............
2,483
57,208
Boot
Barn
Holdings,
Inc.
(a)(b)
............
3,428
304,646
Buckle,
Inc.
(The)
(b)
.................
3,443
136,308
Caleres
,
Inc.
......................
4,338
96,390
Camping
World
Holdings,
Inc.,
Class
A
(b)
...
5,092
197,926
CarLotz
,
Inc.,
Class
A
(a)(b)
..............
5,185
19,755
Cato
Corp.
(The),
Class
A
.............
2,162
35,759
Chico's
FAS,
Inc.
(a)
..................
13,392
60,130
Children's
Place,
Inc.
(The)
(a)(b)
..........
1,627
122,448
Citi
Trends,
Inc.
(a)
...................
1,025
74,784
Conn's,
Inc.
(a)
.....................
2,008
45,843
Container
Store
Group,
Inc.
(The)
(a)
.......
3,854
36,690
Designer
Brands,
Inc.,
Class
A
(a)
.........
7,171
99,892
Genesco,
Inc.
(a)
....................
1,725
99,584
Group
1
Automotive,
Inc.
..............
2,069
388,724
GrowGeneration
Corp.
(a)
..............
6,453
159,195
Guess?,
Inc.
......................
4,884
102,613
Haverty
Furniture
Cos.,
Inc.
............
2,098
70,724
Hibbett,
Inc.
......................
1,907
134,901
JOANN,
Inc.
......................
1,384
15,418
Kirkland's,
Inc.
(a)
...................
1,671
32,100
Lazydays
Holdings,
Inc.
(a)
.............
876
18,694
Lumber
Liquidators
Holdings,
Inc.
(a)
.......
3,195
59,683
MarineMax
,
Inc.
(a)
...................
2,482
120,427
Monro
,
Inc.
.......................
3,871
222,621
Murphy
USA,
Inc.
..................
2,846
476,022
National
Vision
Holdings,
Inc.
(a)
.........
9,607
545,389
ODP
Corp.
(The)
(a)
..................
5,590
224,494
OneWater
Marine,
Inc.,
Class
A
.........
1,285
51,670
Party
City
Holdco,
Inc.
(a)(b)
.............
13,183
93,599
Rent-A-Center,
Inc.
.................
7,690
432,255
Sally
Beauty
Holdings,
Inc.
(a)
...........
13,445
226,548
Shift
Technologies,
Inc.,
Class
A
(a)(b)
.......
7,403
51,377
Shoe
Carnival,
Inc.
..................
1,966
63,738
Signet
Jewelers
Ltd.
.................
6,086
480,551
Sleep
Number
Corp.
(a)
...............
2,719
254,172
Sonic
Automotive,
Inc.,
Class
A
.........
2,611
137,182
Sportsman's
Warehouse
Holdings,
Inc.
(a)
...
5,364
94,406
Tilly's,
Inc.,
Class
A
.................
2,985
41,820
Torrid
Holdings,
Inc.
(a)
................
1,502
23,176
TravelCenters
of
America,
Inc.
(a)
.........
1,489
74,137
Urban
Outfitters,
Inc.
(a)
...............
8,184
242,983
Winmark
Corp.
....................
394
84,722
Zumiez
,
Inc.
(a)
.....................
2,664
105,921
8,581,748
Technology
Hardware,
Storage
&
Peripherals
—
0.3%
(a)
3D
Systems
Corp.
..................
14,135
389,702
Avid
Technology,
Inc.
................
4,457
128,896
Corsair
Gaming,
Inc.
(b)
...............
3,265
84,661
Diebold
Nixdorf,
Inc.
.................
8,877
89,747
Eastman
Kodak
Co.
.................
5,352
36,447
Quantum
Corp.
....................
6,829
35,374
Super
Micro
Computer,
Inc.
............
5,038
184,240
Turtle
Beach
Corp.
..................
1,864
51,857
1,000,924
BlackRock
Small
Cap
Index
V.I.
Fund
18
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Textiles,
Apparel
&
Luxury
Goods
—
0.8%
Crocs,
Inc.
(a)
......................
7,271
$
1,043,243
Fossil
Group,
Inc.
(a)
.................
5,744
68,066
G-III
Apparel
Group
Ltd.
(a)
.............
5,206
147,330
Kontoor
Brands,
Inc.
.................
6,188
309,090
Movado
Group,
Inc.
.................
1,757
55,328
Oxford
Industries,
Inc.
...............
1,913
172,495
PLBY
Group,
Inc.
(a)
..................
2,773
65,360
Rocky
Brands,
Inc.
..................
726
34,565
Steven
Madden
Ltd.
.................
9,786
393,006
Superior
Group
of
Cos.,
Inc.
...........
1,400
32,606
Unifi,
Inc.
(a)
.......................
1,745
38,268
Vera
Bradley,
Inc.
(a)
.................
2,825
26,583
Wolverine
World
Wide,
Inc.
............
9,682
288,911
2,674,851
Thrifts
&
Mortgage
Finance
—
1.6%
Axos
Financial,
Inc.
(a)
................
6,807
350,833
Blue
Foundry
Bancorp
(a)(b)
.............
3,298
45,479
Bridgewater
Bancshares,
Inc.
(a)
.........
2,423
42,427
Capitol
Federal
Financial,
Inc.
..........
15,065
173,097
Columbia
Financial,
Inc.
(a)
.............
4,789
88,596
Essent
Group
Ltd.
..................
13,031
573,494
Federal
Agricultural
Mortgage
Corp.,
Class
C
1,076
116,768
Finance
of
America
Cos.,
Inc.,
Class
A
(a)(b)
..
3,983
19,716
Flagstar
Bancorp,
Inc.
...............
6,218
315,750
FS
Bancorp,
Inc.
...................
986
34,125
Hingham
Institution
For
Savings
(The)
.....
187
62,963
Home
Bancorp,
Inc.
.................
1,018
39,376
Home
Point
Capital,
Inc.
(b)
.............
965
3,976
HomeStreet
,
Inc.
...................
2,277
93,699
Kearny
Financial
Corp.
...............
8,250
102,548
Luther
Burbank
Corp.
................
1,727
23,159
Merchants
Bancorp
.................
1,327
52,377
Meridian
Bancorp,
Inc.
...............
5,497
114,118
Meta
Financial
Group,
Inc.
.............
3,682
193,231
Mr
Cooper
Group,
Inc.
(a)
..............
8,463
348,422
NMI
Holdings,
Inc.,
Class
A
(a)
...........
10,038
226,959
Northfield
Bancorp,
Inc.
..............
5,107
87,636
Northwest
Bancshares,
Inc.
............
14,187
188,403
Ocwen
Financial
Corp.
(a)
..............
975
27,427
PCSB
Financial
Corp.
................
1,491
27,494
PennyMac
Financial
Services,
Inc.
.......
3,865
236,267
Pioneer
Bancorp,
Inc.
(a)(b)
..............
1,483
18,745
Premier
Financial
Corp.
..............
4,296
136,785
Provident
Bancorp,
Inc.
...............
2,076
33,258
Provident
Financial
Services,
Inc.
........
8,845
207,592
Radian
Group,
Inc.
..................
21,947
498,636
Southern
Missouri
Bancorp,
Inc.
.........
813
36,496
TrustCo
Bank
Corp.
.................
2,175
69,535
Velocity
Financial,
Inc.
(a)
..............
1,023
13,463
Walker
&
Dunlop,
Inc.
................
3,429
389,191
Washington
Federal,
Inc.
..............
7,972
273,519
Waterstone
Financial,
Inc.
.............
2,447
50,139
WSFS
Financial
Corp.
...............
5,608
287,746
5,603,445
Tobacco
—
0.1%
22nd
Century
Group,
Inc.
(a)(b)
...........
18,009
53,307
Turning
Point
Brands,
Inc.
.............
1,769
84,470
Universal
Corp.
....................
2,740
132,424
Vector
Group
Ltd.
..................
17,358
221,314
491,515
Trading
Companies
&
Distributors
—
1.4%
Alta
Equipment
Group,
Inc.
(a)
...........
2,288
31,414
Applied
Industrial
Technologies,
Inc.
......
4,630
417,302
Security
Shares
Shares
Value
Trading
Companies
&
Distributors
(continued)
Beacon
Roofing
Supply,
Inc.
(a)
..........
6,568
$
313,688
BlueLinx
Holdings,
Inc.
(a)
..............
1,070
52,302
Boise
Cascade
Co.
.................
4,622
249,496
CAI
International,
Inc.
................
2,015
112,659
Custom
Truck
One
Source,
Inc.
(a)
........
5,439
50,746
DXP
Enterprises,
Inc.
(a)
...............
2,225
65,793
EVI
Industries,
Inc.
(a)
.................
587
15,966
GATX
Corp.
(b)
.....................
4,185
374,809
Global
Industrial
Co.
(b)
................
1,489
56,418
GMS,
Inc.
(a)
.......................
5,021
219,920
H&E
Equipment
Services,
Inc.
..........
3,900
135,369
Herc
Holdings,
Inc.
(a)
................
2,937
480,082
Karat
Packaging,
Inc.
(a)
...............
547
11,503
Lawson
Products,
Inc.
(a)
..............
584
29,206
McGrath
RentCorp
..................
2,803
201,676
MRC
Global,
Inc.
(a)
..................
10,022
73,561
NOW,
Inc.
(a)
......................
12,490
95,549
Rush
Enterprises,
Inc.,
Class
A
(b)
........
5,017
226,568
Rush
Enterprises,
Inc.,
Class
B
.........
853
39,042
Textainer
Group
Holdings
Ltd.
(a)(b)(e)
.......
5,717
199,580
Titan
Machinery,
Inc.
(a)
...............
2,475
64,127
Transcat
,
Inc.
(a)
....................
853
55,001
Triton
International
Ltd.
(e)
..............
7,758
403,726
Veritiv
Corp.
(a)
.....................
1,697
151,983
WESCO
International,
Inc.
(a)
...........
5,219
601,855
Willis
Lease
Finance
Corp.
(a)
...........
394
14,653
4,743,994
Water
Utilities
—
0.4%
American
States
Water
Co.
............
4,400
376,288
Artesian
Resources
Corp.,
Class
A
.......
1,099
41,949
Cadiz,
Inc.
(a)
......................
2,492
17,544
California
Water
Service
Group
.........
6,100
359,473
Global
Water
Resources,
Inc.
...........
1,617
30,270
Middlesex
Water
Co.
................
2,039
209,569
Pure
Cycle
Corp.
(a)
..................
1,885
25,089
SJW
Group
.......................
3,339
220,574
York
Water
Co.
(The)
................
1,480
64,646
1,345,402
Wireless
Telecommunication
Services
—
0.2%
Gogo
,
Inc.
(a)
......................
7,126
123,280
Shenandoah
Telecommunications
Co.
.....
5,764
182,027
Telephone
&
Data
Systems,
Inc.
.........
12,055
235,073
United
States
Cellular
Corp.
(a)
..........
1,824
58,167
598,547
Total
Common
Stocks
—
99.4%
(Cost:
$244,817,160)
.............................
344,865,230
Par
(000)
Par
(000)
Corporate
Bonds
—
0.0%
Capital
Markets
—
0.0%
GAMCO
Investors,
Inc.,
4.00%,
06/15/23
(g)
.
USD
1
995
Total
Corporate
Bonds
—
0.0%
(Cost:
$1,000)
.................................
995
BlackRock
Small
Cap
Index
V.I.
Fund
19
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2021
Security
Shares
Shares
Value
Investment
Companies
—
0.0%
Ferroglobe
Representation
&
Warranty
Insurance
Trust
-
Beneficial
Interest
Units
(e)(h)
10,979
$
—
Total
Investment
Companies
—
0.0%
(Cost:
$—)
....................................
—
Rights
—
0.0%
Biotechnology
—
0.0%
(a)(h)
Contra
Aduro
Biotech
I
...............
1,703
5,109
Oncternal
Therapeutics,
Inc.,
CVR
.......
105
108
5,217
Total
Rights
—
0.0%
(Cost:
$5,109)
.................................
5,217
Warrants
—
0.0%
Energy
Equipment
&
Services
—
0.0%
Nabors
Industries
Ltd.
(Issued/exercisable
06/11/21,
1
share
for
1
warrant,
Expires
06/11/26,
Strike
Price
USD
166.67)
(a)
...
346
2,021
Total
Warrants
—
0.0%
.............................
2,021
Total
Long-Term
Investments
—
99.4%
(Cost:
$244,823,269)
.............................
344,873,463
Security
Shares
Shares
Value
Short-Term
Securities
—
8.7%
(i)(j)
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class,
0.01%
...................
2,076,812
$
2,076,812
SL
Liquidity
Series,
LLC,
Money
Market
Series,
0.13%
(k)
.......................
28,149,529
28,157,973
Total
Short-Term
Securities
—
8.7%
(Cost:
$30,234,785)
..............................
30,234,785
Total
Investments
—
108.1%
(Cost:
$275,058,054
)
.............................
375,108,248
Liabilities
in
Excess
of
Other
Assets
—
(8.1)%
............
(28,050,826)
Net
Assets
—
100.0%
..............................
$
347,057,422
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
this
security
is
on
loan.
(c)
Restricted
security
as
to
resale,
excluding
144A
securities.
The
Fund
held
restricted
securities
with
a
current
value
of
$69,361,
representing
less
than
0.05%
of
its
net
assets
as
of
period
end,
and
an
original
cost
of
$79,814.
(d)
This
security
may
be
resold
to
qualified
foreign
investors
and
foreign
institutional
buyers
under
Regulation
S
of
the
Securities
Act
of
1933.
(e)
U.S.
dollar
denominated
security
issued
by
foreign
domiciled
entity.
(f)
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.
(g)
Step
coupon
security.
Coupon
rate
will
either
increase
(step-up
bond)
or
decrease
(step-down
bond)
at
regular
intervals
until
maturity.
Interest
rate
shown
reflects
the
rate
currently
in
effect.
(h)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(i)
Affiliate
of
the
Fund.
(j)
Annualized
7-day
yield
as
of
period
end.
(k)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
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)
..
$
3,838,753
$
—
$
(1,761,941)
$
—
$
—
$
2,076,812
2,076,812
$
342
$
—
SL
Liquidity
Series,
LLC,
Money
Market
Series
(a)
..........
26,267,552
1,890,223
—
156
42
28,157,973
28,149,529
90,201
(b)
—
$
156
$
42
$
30,234,785
$
90,543
$
—
—
—
(a)
Represents
net
amount
purchased
(sold).
(b)
All
or
a
portion
represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
For
Fund
compliance
purposes,
the
Fund's
industry
classifications
refer
to
one
or
more
of
the
industry
sub-classifications
used
by
one
or
more
widely
recognized
market
indexes
or
rating
group
indexes,
and/or
as
defined
by
the
investment
adviser.
These
definitions
may
not
apply
for
purposes
of
this
report,
which
may
combine
such
industry
sub-classifications
for
reporting
ease.
BlackRock
Small
Cap
Index
V.I.
Fund
20
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
Russell
2000
E-Mini
Index
....................................................
22
12/17/21
$
2,421
$
(14,053)
Glossary
of
Terms
Used
in
this
Report
Portfolio
Abbreviations
CVR
Contingent
Value
Rights
REIT
Real
Estate
Investment
Trust
BlackRock
Small
Cap
Index
V.I.
Fund
21
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
.........................................
$
344,865,230
$
—
$
—
$
344,865,230
Corporate
Bonds
........................................
—
995
—
995
Investment
Companies
....................................
—
—
—
—
Rights
................................................
—
—
5,217
5,217
Warrants
..............................................
2,021
—
—
2,021
Short-Term
Securities
.......................................
2,076,812
—
—
2,076,812
$
346,944,063
$
995
$
5,217
$
346,950,275
Investme
nts
Valued
at
NAV
(a)
......................................
28,157,973
$
—
$
375,108,248
$
—
Derivative
Financial
Instruments
(b)
Liabilities:
Equity
contracts
...........................................
$
(14,053)
$
—
$
—
$
(14,053)
(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.