Schedule of Investments (unaudited) 
February 28, 2026
BlackRock Global Dividend Portfolio
(Percentages shown are based on Net Assets)
 
Security
 
 
Shares
Value
Common Stocks
Canada — 2.0%
Teck Resources Ltd., Class B
312,439
$  18,349,392
China — 2.5%
Alibaba Group Holding Ltd., ADR
46,193
6,656,873
Alibaba Group Holding Ltd.
861,644
15,592,949
 
22,249,822
France — 3.1%
Air Liquide SA
64,193
13,498,205
BNP Paribas SA
128,188
14,393,167
 
27,891,372
Germany — 2.6%
Allianz SE, Registered Shares
52,443
23,550,954
India — 1.4%
Kotak Mahindra Bank Ltd.
2,756,215
12,596,376
Japan — 7.2%
Hitachi Ltd.
538,100
17,615,948
Honda Motor Co. Ltd.
1,325,200
13,275,113
Shin-Etsu Chemical Co. Ltd.
392,400
15,449,400
Sony Group Corp.
818,600
18,818,191
 
65,158,652
Mexico — 1.1%
Grupo Financiero Banorte SAB de CV, Class O
885,819
10,072,578
Netherlands — 2.1%
Koninklijke KPN NV
3,288,824
18,695,710
Spain — 3.9%
Banco Bilbao Vizcaya Argentaria SA
773,911
17,925,020
Industria de Diseno Textil SA
253,540
16,930,735
 
34,855,755
Taiwan — 6.7%
MediaTek, Inc.
324,000
19,958,263
Taiwan Semiconductor Manufacturing Co. Ltd.
659,000
41,120,410
 
61,078,673
United Kingdom — 11.1%
AstraZeneca PLC
145,103
30,534,405
BAE Systems PLC
793,614
22,662,085
Security
 
 
Shares
Value
United Kingdom (continued)
British American Tobacco PLC
318,563
$  19,892,792
Shell PLC
359,850
15,008,761
Taylor Wimpey PLC
8,414,118
12,772,334
 
100,870,377
United States — 55.9%
Accenture PLC, Class A
51,440
10,736,557
Alphabet, Inc., Class A
123,555
38,519,507
Apple Inc.
78,731
20,799,156
Applied Materials, Inc.
67,221
25,026,378
Assurant, Inc.
61,180
14,046,316
Baker Hughes Co., Class A
149,181
9,735,552
Broadcom, Inc.
107,200
34,255,760
Carrier Global Corp.
282,369
18,184,564
Charles Schwab Corp. (The)
145,681
13,868,831
Citizens Financial Group, Inc.
227,727
13,706,888
CMS Energy Corp.
367,413
28,683,933
Coca-Cola Co. (The)
289,818
23,637,556
Equifax, Inc.
63,949
13,362,783
Flowserve Corp.
157,864
13,974,121
General Electric Co.
40,134
13,736,263
Home Depot, Inc. (The)
23,233
8,845,268
Intercontinental Exchange, Inc.
79,165
12,993,352
M&T Bank Corp.
64,534
14,002,587
Meta Platforms, Inc., Class A
22,971
14,889,343
Microsoft Corp.
108,256
42,516,461
Oracle Corp.
47,592
6,919,877
Otis Worldwide Corp.
150,000
13,884,000
Parker-Hannifin Corp.
17,970
18,134,965
Procter & Gamble Co. (The)
117,112
19,581,126
Progressive Corp. (The)
89,920
19,212,307
Service Corp. International
165,308
13,915,627
Walmart, Inc.
76,627
9,804,425
Williams Cos., Inc. (The)
257,507
19,240,923
 
506,214,426
Total Investments — 99.6%
(Cost: $630,269,103)
901,584,087
Other Assets Less Liabilities — 0.4%
3,726,094
Net Assets — 100.0%
$  905,310,181
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended February 28, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
05/31/25
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain
(Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
02/28/26
Shares
Held at
02/28/26
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock Liquidity Funds, T-Fund,
Institutional Shares(a)
$  15,746,707
 
$  —
$  (15,746,707
)(b)
$  —
$  —
$  —
—
$  244,402
$  —
 
(a)
As of period end, the entity is no longer held.
(b)
Represents net amount purchased (sold).
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Schedule of Investments (unaudited) (continued)
February 28, 2026
BlackRock Global Dividend Portfolio
(Percentages shown are based on Net Assets)
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• Level 1 — Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;
• Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 — Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above. 
 
Level 1
Level 2
Level 3
Total
Assets
Investments
Long-Term Investments
Common Stocks 
Canada
$  18,349,392
$  —
$  —
$  18,349,392
China
6,656,873
15,592,949
—
22,249,822
France
—
27,891,372
—
27,891,372
Germany
—
23,550,954
—
23,550,954
India
—
12,596,376
—
12,596,376
Japan
—
65,158,652
—
65,158,652
Mexico
10,072,578
—
—
10,072,578
Netherlands
—
18,695,710
—
18,695,710
Spain
—
34,855,755
—
34,855,755
Taiwan
—
61,078,673
—
61,078,673
United Kingdom
—
100,870,377
—
100,870,377
United States
506,214,426
—
—
506,214,426
 
$  541,293,269
$  360,290,818
$  —
$  901,584,087
 
Portfolio Abbreviation 
ADR
American Depositary Receipt
2