BlackRock Capital Appreciation Fund, Inc.
(Percentages shown are based on Net Assets)
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended December 31, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at
09/30/20 | Purchases
at Cost | Proceeds
from Sale | Net
Realized
Gain (Loss) | | Change in
Unrealized
Appreciation
(Depreciation) | | Value at
12/31/20 | Shares
Held at
12/31/20 | Income | | Capital
Gain
Distributions
from Underlying
Funds |
BlackRock Liquidity Funds, T-Fund, Institutional Class
| $ 22,658,999 | $ — | $ (9,425,313)(a) | $ — | | $ — | | $ 13,233,686 | 13,233,686 | $ 1,017 | | $ — |
SL Liquidity Series, LLC, Money Market Series(b)
| 43,551,040 | — | (43,549,718)(a) | (1,084) | | (238) | | — | — | 8,372(c) | | — |
| | | | | $ (1,084) | | $ (238) | | $ 13,233,686 | | $ 9,389 | | $ — |
| (a) | Represents net amount purchased (sold). |
| (b) | As of period end, the entity is no longer held. |
| (c) | 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.
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)
• 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)
