NPORT-EX 2 BRFBCP0BR103122.htm
Schedule of Investments (unaudited)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Common Stocks
Aerospace & Defense — 0.5%
BAE Systems PLC
       43,146 $  388,577
Curtiss-Wright Corp.
        2,564  377,395
HEICO Corp., Class A
       24,758  3,034,836
Rheinmetall AG
          678  107,629
Saab AB, Class B
       36,862  1,231,452
Textron, Inc.
       34,710  2,165,210
Thales SA
        7,709  929,403
      8,234,502
Air Freight & Logistics — 0.2%
CH Robinson Worldwide, Inc.
          170  19,406
Deutsche Post AG, Registered Shares
       11,421  416,857
DSV A/S
        2,638  389,812
Expeditors International of Washington, Inc.
        2,487  255,887
FedEx Corp.
        1,031  217,345
JD Logistics, Inc.(a)(b)
       20,800  44,384
United Parcel Service, Inc., Class B
        7,645  1,487,029
      2,830,720
Airlines — 0.0%
Deutsche Lufthansa AG, Registered Shares(b)
       15,075  89,625
Auto Components — 0.0%
Fuyao Glass Industry Group Co. Ltd., Class H(a)
       28,800  137,429
Nokian Renkaat Oyj
       13,055  135,488
      272,917
Automobiles — 1.5%
Bayerische Motoren Werke AG
  34,104  2,512,737
BYD Co. Ltd., Class H
  21,000  647,122
Geely Automobile Holdings Ltd.
  359,000  721,310
General Motors Co.
  51,538  1,969,267
Great Wall Motor Co. Ltd., Class H
  105,500  158,285
Honda Motor Co. Ltd.
  94,900  2,526,453
Mercedes-Benz Group AG
  42,293  2,371,186
NIO, Inc., ADR(b)
  5,306  105,642
Renault SA(b)
  4,708  134,098
Tesla, Inc.(b)
  35,032  9,655,169
Volkswagen AG
  826  152,786
Volkswagen AG, Preference Shares
  12,883  1,832,466
XPeng, Inc., ADR(b)
  4,145  76,765
Yadea Group Holdings Ltd.(a)
  70,000  133,518
      22,996,804
Banks — 2.8%
Australia & New Zealand Banking Group Ltd.
  86,461  1,336,562
Banco Bilbao Vizcaya Argentaria SA
  387,999  1,741,026
Bancolombia SA
  6,422  49,590
Bank Central Asia Tbk PT
  2,372,600  1,310,205
Bank Hapoalim BM
  3,575  37,064
Bank Negara Indonesia Persero Tbk PT
  213,100  122,227
Bank of America Corp.
  272,324  9,152,810
Bank of Nova Scotia
  71,924  3,976,945
Bank Polska Kasa Opieki SA
  9,895  136,888
Bank Rakyat Indonesia Persero Tbk PT
  1,229,700  359,108
Barclays PLC
  242,608  462,578
China Merchants Bank Co. Ltd., Class H
  100,500  513,968
Commerzbank AG(b)
  28,128  187,162
Commonwealth Bank of Australia
  13,330  880,876
Credicorp Ltd.
  2,891  372,621
Erste Group Bank AG
  5,046  113,473
Grupo Financiero Banorte SAB de CV, Class O
  81,680  482,462
Industrial & Commercial Bank of China Ltd., Class H
  693,000  352,074
Security   Shares Value
Banks (continued)
JPMorgan Chase & Co.
       92,736 $  10,546,865
KeyCorp
        3,322  58,766
Lloyds Banking Group PLC
       44,256  22,427
National Australia Bank Ltd.
       44,674  926,366
NatWest Group PLC
      999,401  2,851,958
PNC Financial Services Group, Inc.
        5,314  839,612
Postal Savings Bank of China Co. Ltd., Class H(a)
       51,000  30,446
Société Générale SA
        3,318  73,147
Swedbank AB, A Shares
        1,412  18,250
U.S. Bancorp
        7,823  356,807
UniCredit SpA
      109,129  1,067,924
Wells Fargo & Co.
       78,941  3,450,511
Westpac Banking Corp.
      107,340  1,575,486
      43,406,204
Beverages — 1.7%
Anheuser-Busch InBev SA/NV
       44,025  2,126,166
Arca Continental SAB de CV
       15,516  105,019
Brown-Forman Corp., Class B
       56,904  4,136,921
Budweiser Brewing Co. APAC Ltd.(a)
      306,100  899,763
China Resources Beer Holdings Co. Ltd.
       28,000  195,189
Coca-Cola Bottlers Japan Holdings, Inc.
        3,700  37,840
Coca-Cola Co.
       46,397  2,863,159
Coca-Cola Europacific Partners PLC
          801  39,385
Coca-Cola Femsa SAB de CV
  42,908  261,944
Davide Campari-Milano NV
  74,816  734,008
Fomento Economico Mexicano SAB de CV
  52,226  326,890
Heineken NV
  20,459  1,838,836
PepsiCo, Inc.
  51,813  8,925,825
Pernod Ricard SA
  13,820  2,535,809
Remy Cointreau SA
  483  89,578
Suntory Beverage & Food Ltd.
  14,000  511,373
Tsingtao Brewery Co. Ltd., Class H
  6,000  58,266
      25,685,971
Biotechnology — 0.8%
3SBio, Inc.(a)
  312,000  207,436
AbbVie, Inc.
  3,003  403,783
Akeso, Inc.(a)(b)
  7,000  22,411
Alkermes PLC(b)
  10,416  246,547
Amgen, Inc.
  9,916  2,382,815
BeiGene Ltd.(b)
  2,500  32,853
BeiGene Ltd., ADR(b)
  1,704  292,509
Biogen, Inc.(b)
  4,313  842,674
BioMarin Pharmaceutical, Inc.(b)
  6,999  624,311
CSL Ltd.
  4,850  970,086
Exelixis, Inc.(b)
  6,629  117,598
Genmab A/S(b)
  2,168  771,735
Gilead Sciences, Inc.
  25,579  1,623,499
Incyte Corp.(b)
  8,736  615,276
Innovent Biologics, Inc.(a)(b)
  63,000  265,578
Legend Biotech Corp., ADR(b)
  5,351  248,768
Moderna, Inc.(b)
  1,969  260,440
Regeneron Pharmaceuticals, Inc.(b)
  2,238  1,300,412
Shanghai Junshi Biosciences Co. Ltd., Class H(a)(b)
  21,400  78,448
United Therapeutics Corp.(b)
  1,521  344,689
Vertex Pharmaceuticals, Inc.(b)
  5,208  1,467,406
      13,119,274
Building Products — 0.1%
A O Smith Corp.
  541  30,539
Belimo Holding AG, Registered Shares
  750  284,502
Fortune Brands Home & Security, Inc.
  330  20,272
 
1
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Building Products (continued)
Geberit AG, Registered Shares
          234 $  108,119
Lixil Corp.
        8,400  146,072
Owens Corning
       10,278  840,021
ROCKWOOL A/S, B Shares
          112  23,053
      1,452,578
Capital Markets — 0.8%
Bank of New York Mellon Corp.
      113,362  4,707,924
Deutsche Bank AG, Registered Shares
      176,005  1,468,388
Deutsche Boerse AG
        2,773  468,844
Haitong Securities Co. Ltd., Class H
       34,400  22,522
Insignia Financial Ltd.
       16,432  38,657
Julius Baer Group Ltd.
        9,154  442,319
Macquarie Group Ltd.
       20,756  2,483,524
Stifel Financial Corp.
        9,442  560,005
UBS Group AG, Registered Shares
      170,982  2,709,505
XP, Inc., Class A(b)
          823  15,834
      12,917,522
Chemicals — 0.5%
Croda International PLC
        6,711  523,088
Givaudan SA, Registered Shares
          984  3,139,528
K+S AG, Registered Shares
          854  19,455
Linde PLC
          880  248,917
Methanex Corp.
        1,407  50,855
Nitto Denko Corp.
  2,000  123,266
Novozymes A/S, B Shares
  18,410  1,056,616
Sika AG, Registered Shares
  10,733  2,414,869
Solvay SA
  1,875  151,362
Sumitomo Chemical Co. Ltd.
  175,400  690,431
Wacker Chemie AG
  272  38,683
      8,457,070
Commercial Services & Supplies — 0.0%
Sohgo Security Services Co. Ltd.
  700  18,136
Tetra Tech, Inc.
  1,845  250,569
      268,705
Communications Equipment — 0.1%
BYD Electronic International Co. Ltd.
  11,500  30,384
Juniper Networks, Inc.
  20,391  579,512
Nokia Oyj
  79,659  401,431
Telefonaktiebolaget LM Ericsson, B Shares
  42,916  320,944
ZTE Corp., Class H
  86,800  183,262
      1,515,533
Construction & Engineering — 0.2%
Ackermans & van Haaren NV
  4,945  722,925
AECOM
  3,058  223,693
Bouygues SA
  9,673  284,144
COMSYS Holdings Corp.
  7,300  135,576
Eiffage SA
  3,550  312,240
EXEO Group, Inc.
  4,800  73,643
JGC Holdings Corp.
  4,500  60,635
Obayashi Corp.
  17,500  121,040
Shimizu Corp.
  25,600  140,377
Vinci SA
  8,048  742,456
WSP Global, Inc.
  775  92,356
      2,909,085
Construction Materials — 0.0%
James Hardie Industries PLC
  12,049  273,095
Consumer Finance — 0.9%
AEON Financial Service Co. Ltd.
  3,000  30,811
Ally Financial, Inc.
  60,099  1,995,287
Security   Shares Value
Consumer Finance (continued)
American Express Co.
       45,368 $  6,895,936
Capital One Financial Corp.
       26,278  2,780,738
Lufax Holding Ltd., ADR
        6,549  28,619
Synchrony Financial
       48,365  1,583,954
      13,315,345
Distributors — 0.0%
D’ieteren Group
          333  50,200
Diversified Consumer Services — 0.0%
Benesse Holdings, Inc.
        1,100  17,290
H&R Block, Inc.
        1,424  64,080
Service Corp. International
       10,637  656,409
      737,779
Diversified Financial Services — 0.5%
Berkshire Hathaway, Inc., Class B(b)
       12,949  3,636,079
FirstRand Ltd.
       49,744  185,799
Groupe Bruxelles Lambert SA
       10,218  772,442
Industrivarden AB, C Shares
          759  16,651
Investor AB, B Shares
        7,119  112,204
Voya Financial, Inc.
       53,963  3,320,344
      8,043,519
Diversified Telecommunication Services — 0.5%
BCE, Inc.
       63,467  3,062,808
Bezeq The Israeli Telecommunication Corp. Ltd.
      408,744  689,106
Nippon Telegraph & Telephone Corp.
  123,900  3,358,222
Telkom Indonesia Persero Tbk PT
  1,332,600  408,083
Telstra Corp. Ltd.
  268,592  726,338
      8,244,557
Electric Utilities — 0.9%
Acciona SA
  3,598  704,727
Contact Energy Ltd.
  26,547  127,552
Edison International
  86,512  5,862,918
Electricite de France SA
  29,596  353,856
Elia Group SA/NV
  7,455  1,082,998
Enel SpA
  434,597  2,042,202
Hydro One Ltd.(a)
  106,620  2,886,822
NextEra Energy, Inc.
  2,195  186,707
SSE PLC
  14,603  279,833
Terna - Rete Elettrica Nazionale
  3,033  21,562
Verbund AG
  1,384  132,252
      13,681,429
Electrical Equipment — 0.1%
ABB Ltd., Registered Shares
  31,382  865,002
AMETEK, Inc.
  955  114,753
Legrand SA
  9,243  668,774
Signify NV(a)
  10,023  284,912
Xinjiang Goldwind Science & Technology Co. Ltd., Class H
  41,200  61,395
      1,994,836
Electronic Equipment, Instruments & Components — 0.2%
Anritsu Corp.
  5,500  64,833
Azbil Corp.
  2,300  65,535
Keysight Technologies, Inc.(b)
  3,183  521,662
Omron Corp.
  41,100  2,162,940
Shimadzu Corp.
  600  17,523
Spectris PLC
  6,235  201,598
Sunny Optical Technology Group Co. Ltd.
  2,400  32,766
      3,066,857
Energy Equipment & Services — 0.1%
Schlumberger NV
  29,997  1,144,386
 
2
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Entertainment — 0.0%
NetEase, Inc.
        1,900 $  33,929
Nintendo Co. Ltd.
        1,500  614,020
      647,949
Equity Real Estate Investment Trusts (REITs) — 1.2%
American Tower Corp.
        3,266  829,727
Brixmor Property Group, Inc.
       43,841  941,705
Charter Hall Group
        2,189  19,964
Crown Castle, Inc.
       32,132  5,489,110
Digital Realty Trust, Inc.
        4,668  577,105
Equinix, Inc.
        4,702  3,090,954
Equity Residential
       14,608  1,069,013
Essex Property Trust, Inc.
          134  35,518
Goodman Group
        5,765  76,663
GPT Group
       18,117  51,624
Klepierre SA
        8,294  170,129
Lamar Advertising Co., Class A
        1,163  109,194
Prologis, Inc.
        8,823  1,098,552
RLJ Lodging Trust
           17  205
Segro PLC
      131,233  1,432,143
Shopping Centres Australasia Property Group
       13,156  24,299
Simon Property Group, Inc.
       15,946  1,626,173
Stockland
      450,337  1,107,768
Tritax Big Box REIT PLC
       26,791  51,686
Warehouses De Pauw CVA
  10,283  312,882
      18,114,414
Food & Staples Retailing — 0.3%
Cosmos Pharmaceutical Corp.
  2,400  252,776
Costco Wholesale Corp.
  5,568  2,907,053
George Weston Ltd.
  638  72,940
Lawson, Inc.
  4,700  155,762
Marks & Spencer Group PLC(b)
  74,188  104,835
Shoprite Holdings Ltd.
  11,905  161,432
Tesco PLC
  42,777  123,552
Tsuruha Holdings, Inc.
  26,700  1,482,025
Wal-Mart de Mexico SAB de CV
  14,610  47,877
      5,308,252
Food Products — 1.1%
Ajinomoto Co., Inc.
  19,200  530,685
Associated British Foods PLC
  61,851  1,092,350
Calbee, Inc.
  1,400  27,781
Chocoladefabriken Lindt & Spruengli AG
  76  803,804
Gruma SAB de CV, Class B
  4,042  44,189
Grupo Bimbo SAB de CV, Series A
  28,229  95,098
Kuala Lumpur Kepong Bhd
  21,200  109,612
Leroy Seafood Group ASA
  8,542  57,075
MEIJI Holdings Co. Ltd.
  1,100  52,403
Mondelez International, Inc., Class A
  32,710  2,023,441
Nestlé SA, Registered Shares
  82,902  9,701,439
Nichirei Corp.
  16,600  296,759
Nissin Foods Holdings Co. Ltd.
  7,900  565,217
Nomad Foods Ltd.(b)
  21,597  382,051
Orkla ASA
  22,544  188,781
Tingyi Cayman Islands Holding Corp.
  66,000  117,198
Uni-President China Holdings Ltd.
  131,000  112,784
Want Want China Holdings Ltd.
  47,000  33,108
      16,233,775
Gas Utilities — 0.0%
ENN Energy Holdings Ltd.
  1,900  27,602
Perusahaan Gas Negara Tbk PT
  1,340,900  165,892
      193,494
Security   Shares Value
Health Care Equipment & Supplies — 1.2%
Abbott Laboratories
          245 $  25,149
ABIOMED, Inc.(b)
          135  35,003
Align Technology, Inc.(b)
        7,480  1,822,876
Boston Scientific Corp.(b)
      166,293  6,703,271
Edwards Lifesciences Corp.(b)
       21,345  1,923,185
Elekta AB, B Shares
       15,654  89,735
Fisher & Paykel Healthcare Corp. Ltd.
        5,801  69,448
Hoya Corp.
        1,200  122,372
IDEXX Laboratories, Inc.(b)
        5,925  2,059,648
Medtronic PLC
       53,155  4,673,388
Sartorius AG, Preference Shares
        1,494  622,438
Straumann Holding AG, Registered Shares
        2,243  245,794
Teleflex, Inc.
          549  124,217
Terumo Corp.
       15,800  507,206
      19,023,730
Health Care Providers & Services — 1.4%
AmerisourceBergen Corp.
        5,640  826,598
Cigna Corp.
        9,593  2,719,136
CVS Health Corp.
       37,355  3,666,393
Elevance Health, Inc.
        3,547  1,720,685
Humana, Inc.
        4,815  2,319,771
Jinxin Fertility Group Ltd.(a)
       29,500  19,210
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
       55,700  80,976
Sinopharm Group Co. Ltd., Class H
  64,000  142,579
UnitedHealth Group, Inc.
  19,803  10,284,292
      21,779,640
Health Care Technology — 0.0%
Veeva Systems, Inc., Class A(b)
  469  93,481
Hotels, Restaurants & Leisure — 1.0%
Airbnb, Inc., Class A(b)
  2,080  235,290
Alsea SAB de CV(b)
  175,457  317,880
Aristocrat Leisure Ltd.
  158,544  3,826,687
Booking Holdings, Inc.(b)
  270  506,469
Chipotle Mexican Grill, Inc.(b)
  369  589,219
Expedia Group, Inc.(b)
  6,101  626,268
Flight Centre Travel Group Ltd.(b)
  15,329  184,931
InterContinental Hotels Group PLC
  9,274  503,450
International Game Technology PLC
  17,705  317,628
Marriott International, Inc., Class A
  992  152,510
Papa John’s International, Inc.
  473  38,232
Royal Caribbean Cruises Ltd.(b)
  12,276  501,475
Travel + Leisure Co.
  90,555  3,839,532
Trip.com Group Ltd.(b)
  750  19,369
Trip.com Group Ltd., ADR(b)
  14,144  363,784
Yum China Holdings, Inc.
  27,610  1,383,537
Yum! Brands, Inc.
  12,871  1,431,770
      14,838,031
Household Durables — 0.1%
Barratt Developments PLC
  145,704  721,349
Bellway PLC
  2,427  57,385
Garmin Ltd.
  2,687  237,773
Taylor Wimpey PLC
  20,611  25,857
Whirlpool Corp.
  1,322  207,025
      1,249,389
Household Products — 0.7%
Colgate-Palmolive Co.
  83,196  6,506,759
Procter & Gamble Co.
  30,799  4,248,414
Unicharm Corp.
  13,400  465,673
      11,220,846
 
3
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Independent Power and Renewable Electricity Producers — 0.1%
Atlantica Sustainable Infrastructure PLC
        8,100 $  270,702
China Datang Corp. Renewable Power Co. Ltd., Class H
       58,000  14,525
Clearway Energy, Inc., Class C
        2,680  99,428
Drax Group PLC
       50,444  372,103
Encavis AG
        1,002  21,414
Innergex Renewable Energy, Inc.
        8,042  121,547
Meridian Energy Ltd.
        6,589  20,102
Orron Energy AB
      284,480  541,086
      1,460,907
Industrial Conglomerates — 0.8%
General Electric Co.
       43,182  3,171,286
Honeywell International, Inc.
       21,860  4,139,191
Siemens AG, Registered Shares
       40,393  4,091,573
Smiths Group PLC
       41,496  716,878
      12,118,928
Insurance — 1.9%
Ageas SA/NV
          562  22,804
AIA Group Ltd.
      681,200  6,553,986
Aon PLC, Class A
          344  96,065
AXA SA
       20,362  479,558
Brighthouse Financial, Inc.(b)
        1,636  77,792
Direct Line Insurance Group PLC
       44,537  106,076
Great-West Lifeco, Inc.
        1,968  46,227
Hannover Rueck SE
  716  105,528
Lincoln National Corp.
  24,883  1,146,111
Manulife Financial Corp.
  209,185  3,618,748
Marsh & McLennan Cos., Inc.
  25,323  4,086,373
MetLife, Inc.
  100,438  6,461,177
Ping An Insurance Group Co. of China Ltd., H Shares
  110,500  649,922
Swiss Life Holding AG, Registered Shares
  2,303  1,203,726
T&D Holdings, Inc.
  2,600  28,395
Talanx AG
  1,250  44,314
Tokio Marine Holdings, Inc.
  21,000  1,163,807
Travelers Cos., Inc.
  20,215  3,267,553
Unum Group
  1,086  41,105
      29,199,267
Interactive Media & Services — 2.6%
Alphabet, Inc., Class A(b)
  107,367  11,619,257
Alphabet, Inc., Class C(b)
  83,240  9,085,646
Auto Trader Group PLC(a)
  115,310  870,669
Baidu, Inc., Class A(b)
  67,050  1,196,881
JOYY, Inc., ADR
  3,231  97,964
Kuaishou Technology(a)(b)
  46,100  399,433
Meta Platforms, Inc., Class A(b)
  68,824  11,213,494
REA Group Ltd.
  2,140  184,550
Scout24 SE(a)
  8,428  485,563
SEEK Ltd.
  2,059  29,050
Snap, Inc., Class A(b)
  3,984  43,346
Tencent Holdings Ltd.
  114,700  4,740,640
Z Holdings Corp.
  86,300  253,711
      40,220,204
Internet & Direct Marketing Retail — 1.3%
Alibaba Group Holding Ltd.(b)
  267,200  3,187,842
Amazon.com, Inc.(b)
  105,724  13,402,631
Coupang, Inc.(b)
  25,955  438,640
eBay, Inc.
  33,966  1,498,920
JD.com, Inc., Class A
  20,850  660,010
Meituan, Class B(a)(b)
  30,900  742,132
Ping An Healthcare and Technology Co. Ltd.(a)(b)
  5,600  15,160
Security   Shares Value
Internet & Direct Marketing Retail (continued)
Rakuten Group, Inc.
        8,400 $  40,767
ZOZO, Inc.
        1,400  30,945
      20,017,047
IT Services — 2.0%
Accenture PLC, Class A
       27,719  7,995,823
Capgemini SE
          796  137,531
CGI, Inc.(b)
        5,125  405,833
Cognizant Technology Solutions Corp., Class A
       83,552  5,277,980
DXC Technology Co.(b)
        1,572  38,954
EPAM Systems, Inc.(b)
          828  353,142
Fujitsu Ltd.
        3,000  353,020
Gartner, Inc.(b)
        9,482  2,705,404
Genpact Ltd.
       13,408  629,908
Mastercard, Inc., Class A
        6,665  2,161,926
NEC Corp.
        1,300  47,413
Nomura Research Institute Ltd.
       57,300  1,542,161
Otsuka Corp.
       10,800  349,099
Paychex, Inc.
        2,795  344,735
PayPal Holdings, Inc.(b)
       11,766  1,099,415
StoneCo Ltd., Class A(b)
       10,632  100,791
Visa, Inc., Class A
       40,459  8,039,608
      31,582,743
Leisure Products — 0.0%
Sankyo Co. Ltd.
  1,400  41,024
Sega Sammy Holdings, Inc.
  29,400  436,437
      477,461
Life Sciences Tools & Services — 0.7%
Agilent Technologies, Inc.
  48,501  6,220,253
Mettler-Toledo International, Inc.(b)
  1,464  1,775,042
Pharmaron Beijing Co. Ltd., Class H(a)
  2,850  18,852
Syneos Health, Inc.(b)
  25,876  1,555,406
Thermo Fisher Scientific, Inc.
  222  121,061
WuXi AppTec Co. Ltd., H Shares(a)
  22,200  250,616
Wuxi Biologics Cayman, Inc.(a)(b)
  69,500  613,136
      10,554,366
Machinery — 0.3%
Amada Co. Ltd.
  116,500  911,550
ANDRITZ AG
  10,284  473,643
Daifuku Co. Ltd.
  6,400  373,364
DMG Mori Co. Ltd.
  2,800  36,340
Ebara Corp.
  5,200  196,985
Epiroc AB, Class A
  25,715  393,460
Epiroc AB, Class B
  1,448  19,713
Rational AG
  340  183,383
Spirax-Sarco Engineering PLC
  1,760  214,854
Techtronic Industries Co. Ltd.
  45,000  530,741
Timken Co.
  424  26,708
Valmet Oyj
  21,920  555,614
VAT Group AG(a)
  1,300  310,838
Wartsila Oyj Abp
  59,234  488,399
Yaskawa Electric Corp.
  3,100  100,945
      4,816,537
Marine — 0.1%
AP Moller - Maersk A/S, Class A
  101  235,947
AP Moller - Maersk A/S, Class B
  373  894,884
Grindrod Shipping Holdings Ltd.
  804  18,966
Kuehne + Nagel International AG, Registered Shares
  1,882  434,951
Orient Overseas International Ltd.
  1,500  41,813
      1,626,561
 
4
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Media — 0.7%
Charter Communications, Inc., Class A(b)
          159 $  65,608
Comcast Corp., Class A
      154,208  5,580,788
Fox Corp., Class A
      143,710  4,912,008
Fuji Media Holdings, Inc.
        2,700  21,367
      10,579,771
Metals & Mining — 0.8%
Aluminum Corp. of China Ltd., Class H
      134,000  49,514
Anglo American PLC
       46,986  1,509,871
Anglo American PLC
       36,510  1,170,317
China Hongqiao Group Ltd.
       40,000  38,786
CMOC Group Ltd., Class H
      561,000  250,159
Franco-Nevada Corp.
          720  86,563
Gold Fields Ltd.
        4,991  40,309
Jiangxi Copper Co. Ltd., Class H
       26,000  31,933
Maanshan Iron & Steel Co. Ltd., Class H
       68,000  17,710
MMG Ltd.(b)
       84,000  22,979
Reliance Steel & Aluminum Co.
        9,164  1,722,649
South32 Ltd.
      424,999  1,170,323
Vale Indonesia Tbk PT(b)
      134,600  55,169
Wheaton Precious Metals Corp.
      177,661  5,423,101
      11,589,383
Multiline Retail — 0.0%
Macy’s, Inc.
        4,367  75,636
Woolworths Holdings Ltd.
  7,666  25,063
      100,699
Multi-Utilities — 0.4%
A2A SpA
  17,110  19,173
Centrica PLC(b)
  735,300  644,907
E.ON SE
  345,980  2,951,068
Engie SA
  213,105  2,531,069
      6,146,217
Oil, Gas & Consumable Fuels — 2.4%
Aker BP ASA
  12,948  453,579
ARC Resources Ltd.
  7,312  100,938
Chevron Corp.
  63,215  9,991,763
China Petroleum & Chemical Corp., Class H
  2,226,000  1,046,766
Crescent Point Energy Corp.
  49,598  376,890
Enbridge, Inc.
  67,758  2,794,208
Enerplus Corp.
  1,706  26,291
Eni SpA
  2,231  26,355
EOG Resources, Inc.
  25,184  3,054,819
Equinor ASA
  85,091  3,302,437
Exxon Mobil Corp.
  100,043  9,563,110
Gibson Energy, Inc.
  1,385  26,142
Inpex Corp.
  60,100  690,827
Marathon Petroleum Corp.
  9,669  974,152
Ovintiv, Inc.
  853  45,334
Parex Resources, Inc.
  1,250  19,996
PetroChina Co. Ltd., Class H
  2,842,000  1,321,580
Phillips 66
  1,860  166,396
Range Resources Corp.(b)
  3,555  116,817
TC Energy Corp.
  5,247  252,852
Tourmaline Oil Corp.
  4,698  277,763
Valero Energy Corp.
  5,999  702,603
Williams Cos., Inc.
  2,358  80,243
Woodside Energy Group Ltd.
  59,534  1,382,886
      36,794,747
Paper & Forest Products — 0.0%
West Fraser Timber Co. Ltd.
  1,341  119,974
Security   Shares Value
Personal Products — 0.4%
Estee Lauder Cos., Inc., Class A
        3,414 $  868,453
L’Oreal SA
        1,577  541,612
Pola Orbis Holdings, Inc.
        4,100  45,226
Unilever PLC
      101,606  4,609,084
      6,064,375
Pharmaceuticals — 3.1%
Astellas Pharma, Inc.
       40,300  571,365
Bristol-Myers Squibb Co.
      110,385  7,441,053
China Medical System Holdings Ltd.
       15,000  22,200
CSPC Pharmaceutical Group Ltd.
       28,000  28,404
Dechra Pharmaceuticals PLC
          640  25,884
Eisai Co. Ltd.
        8,300  338,417
Eli Lilly & Co.
       16,293  4,907,940
H Lundbeck A/S
        3,188  12,520
Hisamitsu Pharmaceutical Co., Inc.
        1,000  24,217
Johnson & Johnson
       72,549  11,705,056
Merck & Co., Inc.
       70,829  6,045,964
Novartis AG, Registered Shares
        9,576  774,584
Novo Nordisk A/S, Class B
       59,746  6,387,674
Ono Pharmaceutical Co. Ltd.
          800  19,096
Pfizer, Inc.
       61,110  2,764,005
Roche Holding AG
        4,692  1,511,958
Roche Holding AG
          422  161,187
Santen Pharmaceutical Co. Ltd.
  5,600  40,233
Sino Biopharmaceutical Ltd.
  93,000  48,845
Takeda Pharmaceutical Co. Ltd.
  172,700  4,773,437
Teva Pharmaceutical Industries Ltd.(b)
  25,615  229,478
Teva Pharmaceutical Industries Ltd., ADR(b)
  63,490  573,950
      48,407,467
Professional Services — 0.9%
Booz Allen Hamilton Holding Corp.
  23,503  2,249,237
Experian PLC
  95,086  2,885,428
ManpowerGroup, Inc.
  2,003  146,860
Randstad NV
  1,761  82,011
Recruit Holdings Co. Ltd.
  41,600  1,322,489
RELX PLC
  15,165  397,704
Robert Half International, Inc.
  13,973  1,075,502
Teleperformance
  1,474  419,806
Wolters Kluwer NV
  53,830  5,264,189
      13,843,226
Real Estate Management & Development — 0.3%
Alony Hetz Properties & Investments Ltd.
  1,152  18,578
China Resources Land Ltd.
  40,000  163,770
CIFI Holdings Group Co. Ltd.
  131,040  33,165
City Developments Ltd.
  36,800  213,668
Country Garden Holdings Co. Ltd.
  243,000  71,733
Country Garden Services Holdings Co. Ltd.
  81,000  159,178
Daiwa House Industry Co. Ltd.
  27,700  619,295
Greentown China Holdings Ltd.
  47,000  88,679
Jones Lang LaSalle, Inc.(b)
  1,594  275,762
LEG Immobilien SE
  4,357  329,275
Logan Group Co. Ltd.
  77,000  8,399
Longfor Group Holdings Ltd.(a)
  5,000  16,229
Mitsubishi Estate Co. Ltd.
  25,200  339,365
Mitsui Fudosan Co. Ltd.
  67,100  1,358,145
Shimao Services Holdings Ltd.(a)(b)
  49,000  12,552
Sun Hung Kai Properties Ltd.
  8,500  99,860
Tokyo Tatemono Co. Ltd.
  1,400  20,986
Zillow Group, Inc., Class A(b)
  582  19,439
Zillow Group, Inc., Class C(b)
  511  17,098
      3,865,176
 
5
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Road & Rail — 0.2%
Aurizon Holdings Ltd.
      111,633 $  282,335
JB Hunt Transport Services, Inc.
        1,770  308,015
Knight-Swift Transportation Holdings, Inc.
        2,282  115,264
Landstar System, Inc.
        8,737  1,281,106
Norfolk Southern Corp.
        1,613  392,169
Old Dominion Freight Line, Inc.
        2,542  689,924
Uber Technologies, Inc.(b)
        4,584  131,836
      3,200,649
Semiconductors & Semiconductor Equipment — 2.4%
Advanced Micro Devices, Inc.(b)
       40,457  3,433,586
Advantest Corp.
       17,400  985,455
Analog Devices, Inc.
       19,404  2,940,288
Applied Materials, Inc.
       46,703  4,393,351
ASML Holding NV
        4,574  2,232,639
Cirrus Logic, Inc.(b)
        7,402  567,659
Disco Corp.
        2,400  582,744
Intel Corp.
      154,314  4,925,703
KLA Corp.
          986  339,312
Lam Research Corp.
        1,179  516,296
NVIDIA Corp.
       48,288  7,288,591
NXP Semiconductors NV
        4,180  687,944
QUALCOMM, Inc.
       19,418  2,568,419
Semtech Corp.(b)
        5,493  253,722
Silicon Laboratories, Inc.(b)
  3,158  395,792
Tokyo Electron Ltd.
  13,500  4,234,101
Xinyi Solar Holdings Ltd.
  36,000  49,508
      36,395,110
Software — 3.7%
Adobe, Inc.(b)
  20,748  7,748,133
ANSYS, Inc.(b)
  67  16,636
Atlassian Corp. PLC, Class A(b)
  71  17,584
Autodesk, Inc.(b)
  3,753  757,130
Cadence Design Systems, Inc.(b)
  5,315  923,588
Check Point Software Technologies Ltd.(b)
  6,957  836,510
Crowdstrike Holdings, Inc., Class A(b)
  801  146,271
DocuSign, Inc.(b)
  4,324  251,743
Fair Isaac Corp.(b)
  55  24,717
InterDigital, Inc.
  2  100
Intuit, Inc.
  2,254  973,232
Kingdee International Software Group Co. Ltd.(b)
  66,000  128,100
Manhattan Associates, Inc.(b)
  234  33,055
Microsoft Corp.
  124,866  32,648,713
Nemetschek SE
  2,576  151,752
Palo Alto Networks, Inc.(b)
  2,841  1,581,897
RingCentral, Inc., Class A(b)
  13,643  587,195
Salesforce, Inc.(b)
  8,836  1,379,476
SAP SE
  25,270  2,152,231
ServiceNow, Inc.(b)
  7,703  3,347,878
Temenos AG, Registered Shares
  519  42,503
Trend Micro, Inc.
  1,000  61,568
Workday, Inc., Class A(b)
  16,312  2,684,303
Zoom Video Communications, Inc., Class A(b)
  676  54,350
      56,548,665
Specialty Retail — 1.3%
Best Buy Co., Inc.
  13,885  981,531
China Yongda Automobiles Services Holdings Ltd.
  79,000  55,717
Dick’s Sporting Goods, Inc.
  6,838  727,358
Fast Retailing Co. Ltd.
  200  116,946
Foschini Group Ltd.
  7,466  55,426
Home Depot, Inc.
  33,778  9,742,251
Industria de Diseno Textil SA
  12,515  270,217
Security   Shares Value
Specialty Retail (continued)
JB Hi-Fi Ltd.
        2,333 $  64,343
Lowe’s Cos., Inc.
       38,529  7,480,020
Topsports International Holdings Ltd.(a)
       66,000  52,093
Ulta Beauty, Inc.(b)
        2,147  901,461
      20,447,363
Technology Hardware, Storage & Peripherals — 3.1%
Apple Inc.
      273,506  43,000,613
Dell Technologies, Inc., Class C
        8,342  319,415
FUJIFILM Holdings Corp.
        4,100  208,144
Hewlett Packard Enterprise Co.
      164,768  2,240,845
HP, Inc.
       75,982  2,181,443
Lenovo Group Ltd.
      232,000  191,078
Ricoh Co. Ltd.
        7,600  59,732
      48,201,270
Textiles, Apparel & Luxury Goods — 1.0%
ANTA Sports Products Ltd.
       44,200  532,276
Bosideng International Holdings Ltd.
       50,000  28,075
Burberry Group PLC
       11,880  240,317
Hermes International
        2,406  3,081,522
Kering SA
        9,328  4,680,347
Li Ning Co. Ltd.
       23,000  209,491
Lululemon Athletica, Inc.(b)
        5,221  1,566,091
Moncler SpA
       14,996  667,198
NIKE, Inc., Class B
  33,194  3,533,501
Pandora A/S
  282  16,942
Swatch Group AG
  4,093  992,534
      15,548,294
Thrifts & Mortgage Finance — 0.0%
Radian Group, Inc.
  26,326  555,742
Trading Companies & Distributors — 0.7%
IMCD NV
  3,859  532,372
ITOCHU Corp.
  75,100  2,066,806
Marubeni Corp.
  22,500  234,501
Mitsubishi Corp.
  54,700  1,790,914
Mitsui & Co. Ltd.
  165,400  3,881,793
SiteOne Landscape Supply, Inc.(b)
  9,995  1,250,974
Sumitomo Corp.
  33,000  464,165
United Rentals, Inc.(b)
  2,130  622,045
      10,843,570
Transportation Infrastructure — 0.0%
Grupo Aeroportuario del Pacifico SAB de CV, Class B
  4,887  69,842
Kamigumi Co. Ltd.
  9,400  183,947
      253,789
Water Utilities — 0.1%
United Utilities Group PLC
  77,778  953,270
Wireless Telecommunication Services — 0.2%
Freenet AG
  18,685  407,262
KDDI Corp.
  16,500  504,919
MTN Group Ltd.
  85,406  618,172
Tele2 AB, B Shares
  124,459  1,325,460
      2,855,813
Total Common Stocks — 50.9%

(Cost: $722,140,928)
788,800,105
 
6
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Corporate Bonds
Air Freight & Logistics — 0.1%
United Parcel Service, Inc., 4.45%, 04/01/30
USD         1,450 $  1,486,684
Automobiles — 0.2%
Honda Motor Co. Ltd., 2.53%, 03/10/27
        1,000  934,197
Toyota Motor Credit Corp.      
3.05%, 03/22/27
        1,000  960,155
1.90%, 04/06/28
          850  756,509
      2,650,861
Banks — 3.9%
Banco Santander SA      
2.75%, 05/28/25
          600  564,213
1.85%, 03/25/26
          400  355,882
4.18%, 03/24/28
        1,000  938,386
3.23%, 11/22/32
          200  152,885
Bank of America Corp.      
3.38%, 04/02/26
        1,450  1,399,205
1.73%, 07/22/27
        1,050  931,720
2.55%, 02/04/28
        1,150  1,042,591
4.38%, 04/27/28
        1,260  1,228,131
2.09%, 06/14/29
        1,200  1,020,205
3.19%, 07/23/30
          370  329,344
2.50%, 02/13/31
        1,400  1,174,588
Series N, 1.66%, 03/11/27
        1,150  1,030,582
Bank of Montreal, 1.25%, 09/15/26
  1,890  1,685,931
Bank of Nova Scotia      
1.05%, 03/02/26
  1,550  1,393,280
1.30%, 09/15/26
  1,500  1,332,282
2.95%, 03/11/27
  1,450  1,360,509
Barclays PLC      
2.85%, 05/07/26
  1,100  1,029,845
2.28%, 11/24/27
  1,000  878,245
Canadian Imperial Bank of Commerce, 3.30%, 04/07/25
  600  584,486
Citigroup, Inc.      
2.01%, 01/25/26
  1,590  1,493,983
1.46%, 06/09/27
  1,075  948,343
Series VAR, 3.07%, 02/24/28
  1,650  1,525,597
HSBC Holdings PLC      
3.00%, 03/10/26
  1,200  1,136,936
1.59%, 05/24/27
  1,800  1,567,876
2.25%, 11/22/27
  2,250  1,983,592
2.21%, 08/17/29
  1,400  1,158,637
2.80%, 05/24/32
  1,800  1,428,039
4.76%, 03/29/33
  450  400,168
ING Groep NV, 4.02%, 03/28/28
  1,710  1,621,166
JPMorgan Chase & Co.      
2.01%, 03/13/26
  1,503  1,409,488
2.08%, 04/22/26
  352  329,180
2.95%, 10/01/26
  1,092  1,038,707
1.05%, 11/19/26
  500  444,229
1.47%, 09/22/27
  400  350,289
4.85%, 07/25/28
  245  244,510
2.96%, 01/25/33
  2,110  1,791,973
4.91%, 07/25/33
  75  74,168
Lloyds Banking Group PLC      
4.45%, 05/08/25
  1,000  990,274
2.44%, 02/05/26
  2,220  2,086,034
3.75%, 01/11/27
  1,000  953,328
3.75%, 03/18/28
  600  566,596
3.57%, 11/07/28
  850  785,534
Security   Par
(000) 		Value
Banks (continued)
Mitsubishi UFJ Financial Group, Inc.      
1.41%, 07/17/25
USD         1,000 $  917,892
1.54%, 07/20/27
        1,450  1,277,405
2.34%, 01/19/28
        1,250  1,121,672
Mizuho Financial Group, Inc.      
2.65%, 05/22/26
        1,350  1,266,922
1.55%, 07/09/27
        1,850  1,626,199
2.17%, 05/22/32
          400  314,498
NatWest Group PLC      
1.64%, 06/14/27
        1,560  1,365,703
5.52%, 09/30/28
        2,310  2,311,210
4.89%, 05/18/29
          620  596,516
Royal Bank of Canada      
3.38%, 04/14/25
          600  588,964
0.88%, 01/20/26
        1,200  1,077,189
Santander UK Group Holdings PLC, 1.53%, 08/21/26
        1,000  894,174
SVB Financial Group      
1.80%, 10/28/26
        1,000  887,663
2.10%, 05/15/28
          550  465,761
Toronto-Dominion Bank      
3.20%, 03/10/32
        1,220  1,085,040
Series FXD, 1.95%, 01/12/27
        1,850  1,676,081
      60,233,846
Beverages — 0.7%
Coca-Cola Co., 2.25%, 01/05/32
  1,050  913,167
Diageo Capital PLC      
1.38%, 09/29/25
  1,000  926,128
2.00%, 04/29/30
  3,300  2,820,971
Keurig Dr Pepper, Inc., 2.25%, 03/15/31
  1,300  1,069,102
PepsiCo, Inc.      
3.60%, 02/18/28
  845  829,428
3.90%, 07/18/32
  4,360  4,272,562
      10,831,358
Biotechnology — 0.6%
AbbVie, Inc., 2.95%, 11/21/26
  800  754,642
Amgen, Inc.      
2.20%, 02/21/27
  650  597,347
3.00%, 02/22/29
  1,000  918,599
4.88%, 03/01/53
  95  92,150
Regeneron Pharmaceuticals, Inc., 1.75%, 09/15/30
  8,620  6,816,697
      9,179,435
Building Products — 0.2%
Johnson Controls International plc, 3.90%, 02/14/26
  3,000  2,965,735
Owens Corning, 3.40%, 08/15/26
  350  333,799
      3,299,534
Capital Markets — 2.1%
Ares Capital Corp.      
2.15%, 07/15/26
  1,500  1,302,812
2.88%, 06/15/27
  1,000  871,090
Blackstone Private Credit Fund, 2.63%, 12/15/26
  130  109,793
Deutsche Bank AG, 1.69%, 03/19/26
  1,200  1,077,736
FactSet Research Systems, Inc., 2.90%, 03/01/27
  3,000  2,818,925
FS KKR Capital Corp.      
2.63%, 01/15/27
  800  677,162
3.25%, 07/15/27
  1,000  867,257
Goldman Sachs Group, Inc.      
1.54%, 09/10/27
  4,070  3,578,496
2.64%, 02/24/28
  2,400  2,176,414
 
7
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Capital Markets (continued)
Goldman Sachs Group, Inc.      
2.60%, 02/07/30
USD         1,220 $  1,045,123
2.38%, 07/21/32
          430  348,076
Series VAR, 1.09%, 12/09/26
        1,000  890,284
Morgan Stanley      
2.19%, 04/28/26
        1,000  939,308
4.68%, 07/17/26
          510  510,549
3.13%, 07/27/26
        1,100  1,047,988
3.63%, 01/20/27
          900  874,401
1.51%, 07/20/27
        1,950  1,726,728
2.48%, 01/21/28
          950  862,934
1.79%, 02/13/32
        2,060  1,616,711
4.89%, 07/20/33
        1,085  1,080,073
2.48%, 09/16/36
          550  423,381
Nasdaq, Inc., 1.65%, 01/15/31
        1,000  796,379
Nomura Holdings, Inc., 1.85%, 07/16/25
        1,200  1,103,985
Prospect Capital Corp., 3.36%, 11/15/26
          800  685,171
S&P Global, Inc.      
2.45%, 03/01/27(a)
        1,000  932,745
2.90%, 03/01/32(a)
        1,135  1,006,637
Thomson Reuters Corp., 3.35%, 05/15/26
        3,740  3,623,562
      32,993,720
Chemicals — 0.1%
Celanese U.S. Holdings LLC      
5.90%, 07/05/24
  300  302,273
6.17%, 07/15/27
  130  130,135
6.33%, 07/15/29
  135  134,567
DuPont de Nemours, Inc., 4.49%, 11/15/25
  700  705,055
      1,272,030
Commercial Services & Supplies — 0.0%
Republic Services, Inc., 1.75%, 02/15/32
  800  636,563
Communications Equipment — 0.2%
Motorola Solutions, Inc.      
2.30%, 11/15/30
  1,124  891,738
2.75%, 05/24/31
  890  725,690
5.60%, 06/01/32
  810  813,179
      2,430,607
Consumer Finance — 0.0%
American Express Co., 2.55%, 03/04/27
  700  650,033
Distributors — 0.0%
Genuine Parts Co., 1.75%, 02/01/25
  500  469,996
Diversified Financial Services — 0.3%
National Rural Utilities Cooperative Finance Corp.      
1.00%, 06/15/26
  2,000  1,793,199
1.65%, 06/15/31
  130  103,619
2.75%, 04/15/32
  50  43,161
RELX Capital, Inc., 3.00%, 05/22/30
  2,295  2,060,397
      4,000,376
Diversified Telecommunication Services — 0.4%
Deutsche Telekom International Finance BV      
3.60%, 01/19/27(a)
  1,340  1,302,313
9.25%, 06/01/32
  750  988,751
Koninklijke KPN NV      
8.38%, 10/01/30
  450  523,385
7.00%, 03/28/73(a)
  620  612,487
Lumen Technologies, Inc., 5.38%, 06/15/29(a)
  2,470  1,928,774
Verizon Communications, Inc., 2.10%, 03/22/28
  1,500  1,325,656
      6,681,366
Security   Par
(000) 		Value
Electric Utilities — 0.5%
Avangrid, Inc.      
3.20%, 04/15/25
USD         2,180 $  2,111,762
3.80%, 06/01/29
          500  467,184
Eversource Energy      
2.90%, 03/01/27
        1,000  937,905
3.38%, 03/01/32
          750  673,842
Series U, 1.40%, 08/15/26
          200  177,891
Exelon Corp.      
2.75%, 03/15/27(a)
          550  513,834
3.35%, 03/15/32(a)
          350  313,921
NSTAR Electric Co.      
3.25%, 05/15/29
        1,000  942,253
3.95%, 04/01/30
        1,000  977,693
      7,116,285
Electronic Equipment, Instruments & Components — 0.5%
Allegion U.S. Holding Co., Inc., 3.55%, 10/01/27
           45  41,630
Flex Ltd., 3.75%, 02/01/26
        1,000  951,750
Keysight Technologies, Inc.      
4.60%, 04/06/27
        1,250  1,253,488
3.00%, 10/30/29
        3,070  2,673,584
Teledyne Technologies, Inc.      
1.60%, 04/01/26
        1,000  899,237
2.25%, 04/01/28
        1,000  866,993
2.75%, 04/01/31
  1,000  832,985
      7,519,667
Energy Equipment & Services — 0.1%
CGG SA, 8.75%, 04/01/27(a)
  600  531,128
Johnson Controls International plc/Tyco Fire & Security Finance SCA      
1.75%, 09/15/30
  400  327,019
2.00%, 09/16/31
  360  290,406
      1,148,553
Entertainment — 0.0%
Electronic Arts, Inc., 4.80%, 03/01/26
  500  507,807
Equity Real Estate Investment Trusts (REITs) — 1.6%
American Tower Corp.      
1.30%, 09/15/25
  1,000  907,010
1.45%, 09/15/26
  1,500  1,317,594
2.75%, 01/15/27
  650  595,115
3.65%, 03/15/27
  1,500  1,427,030
1.50%, 01/31/28
  600  504,622
2.70%, 04/15/31
  700  579,187
4.05%, 03/15/32
  890  817,054
Crown Castle, Inc.      
1.05%, 07/15/26
  4,620  4,046,428
2.10%, 04/01/31
  2,150  1,711,766
2.50%, 07/15/31
  1,140  935,329
Equinix, Inc.      
1.45%, 05/15/26
  1,000  894,475
2.00%, 05/15/28
  815  700,141
Extra Space Storage LP, 2.35%, 03/15/32
  940  738,132
Iron Mountain, Inc., 5.25%, 07/15/30(a)
  700  619,500
Life Storage LP, 3.88%, 12/15/27
  450  424,946
Prologis LP, 1.63%, 03/15/31
  2,000  1,622,321
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 02/15/29(a)
  1,685  1,283,768
Welltower, Inc.      
4.00%, 06/01/25
  900  888,604
4.25%, 04/01/26
  1,200  1,190,586
2.70%, 02/15/27
  730  677,735
 
8
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Equity Real Estate Investment Trusts (REITs) (continued)
Weyerhaeuser Co.      
4.00%, 04/15/30
USD         1,320 $  1,242,696
3.38%, 03/09/33
        2,560  2,243,167
      25,367,206
Food & Staples Retailing — 0.2%
Bunge Ltd. Finance Corp.      
1.63%, 08/17/25
        1,150  1,067,640
3.75%, 09/25/27
        1,200  1,162,201
2.75%, 05/14/31
        1,800  1,510,724
      3,740,565
Food Products — 0.6%
Campbell Soup Co., 4.15%, 03/15/28
          600  589,175
General Mills, Inc.      
4.00%, 04/17/25
          500  498,383
3.20%, 02/10/27
        1,250  1,204,081
2.25%, 10/14/31
        2,480  2,052,565
Kellogg Co.      
3.40%, 11/15/27
          670  637,945
4.30%, 05/15/28
        3,000  2,966,108
2.10%, 06/01/30
        1,000  832,309
McCormick & Co., Inc., 3.40%, 08/15/27
          700  675,036
      9,455,602
Gas Utilities — 0.0%
ONE Gas, Inc., 4.25%, 09/01/32
  155  149,560
Southwest Gas Corp., 4.05%, 03/15/32
  550  496,716
      646,276
Health Care Equipment & Supplies — 0.1%
Hologic, Inc., 4.63%, 02/01/28(a)
  800  745,000
Health Care Providers & Services — 0.7%
AMN Healthcare, Inc., 4.00%, 04/15/29(a)
  2,020  1,737,200
Elevance Health, Inc., 3.65%, 12/01/27
  1,500  1,453,075
HCA, Inc.      
5.25%, 06/15/26
  850  854,200
3.13%, 03/15/27(a)
  440  405,009
Humana, Inc.      
4.50%, 04/01/25
  1,050  1,058,212
1.35%, 02/03/27
  1,200  1,048,530
3.70%, 03/23/29
  1,500  1,416,399
Laboratory Corp. of America Holdings, 1.55%, 06/01/26
  2,000  1,803,296
Quest Diagnostics, Inc., 3.45%, 06/01/26
  400  389,170
      10,165,091
Hotels, Restaurants & Leisure — 0.1%
McDonald’s Corp., 3.30%, 07/01/25
  900  884,695
Starbucks Corp., 2.00%, 03/12/27
  850  774,591
      1,659,286
Household Products — 0.0%
Colgate-Palmolive Co., 3.25%, 08/15/32
  50  47,280
Industrial Conglomerates — 0.2%
3M Co., 3.05%, 04/15/30
  1,450  1,290,138
Carlisle Cos., Inc., 2.20%, 03/01/32
  2,580  2,032,858
      3,322,996
Insurance — 1.0%
Alleghany Corp., 3.63%, 05/15/30
  3,270  3,062,420
Arthur J Gallagher & Co., 2.40%, 11/09/31
  580  471,304
Athene Holding Ltd., 3.50%, 01/15/31
  200  171,728
AXA SA, 8.60%, 12/15/30
  429  534,105
Security   Par
(000) 		Value
Insurance (continued)
Hanover Insurance Group, Inc.      
4.50%, 04/15/26
USD         1,810 $  1,795,758
2.50%, 09/01/30
          380  307,867
Manulife Financial Corp., 4.15%, 03/04/26
        1,220  1,208,294
Marsh & McLennan Cos., Inc.      
4.38%, 03/15/29
        1,820  1,808,917
2.25%, 11/15/30
        2,000  1,706,445
2.38%, 12/15/31
        3,000  2,535,639
Progressive Corp.      
2.50%, 03/15/27
          200  188,055
3.00%, 03/15/32
          400  361,245
Willis North America, Inc., 2.95%, 09/15/29
          850  734,806
      14,886,583
Internet & Direct Marketing Retail — 0.1%
Amazon.com, Inc., 2.10%, 05/12/31
          850  731,277
Cogent Communications Group, Inc., 7.00%, 06/15/27(a)
          900  860,122
      1,591,399
IT Services — 0.7%
Automatic Data Processing, Inc., 1.70%, 05/15/28
        5,380  4,818,374
Block Financial LLC, 3.88%, 08/15/30
        1,490  1,354,738
Gartner, Inc., 4.50%, 07/01/28(a)
          975  899,876
International Business Machines Corp.      
2.20%, 02/09/27
          750  690,722
2.72%, 02/09/32
  750  648,526
Mastercard, Inc., 2.00%, 11/18/31
  1,450  1,221,670
VeriSign, Inc., 2.70%, 06/15/31
  620  508,791
      10,142,697
Life Sciences Tools & Services — 0.3%
Agilent Technologies, Inc.      
3.05%, 09/22/26
  2,000  1,904,414
2.30%, 03/12/31
  3,210  2,640,958
      4,545,372
Machinery — 0.4%
Cummins, Inc.      
0.75%, 09/01/25
  680  622,159
1.50%, 09/01/30
  1,470  1,197,209
IDEX Corp., 2.63%, 06/15/31
  3,500  2,961,823
Wabash National Corp., 4.50%, 10/15/28(a)
  750  637,258
      5,418,449
Media — 0.1%
Interpublic Group of Cos., Inc., 4.65%, 10/01/28
  500  485,349
Sirius XM Radio, Inc., 5.50%, 07/01/29(a)
  900  841,572
      1,326,921
Metals & Mining — 0.3%
Mineral Resources Ltd., 8.50%, 05/01/30(a)
  850  856,222
Reliance Steel & Aluminum Co.      
1.30%, 08/15/25
  680  622,607
2.15%, 08/15/30
  1,910  1,532,449
Steel Dynamics, Inc.      
2.40%, 06/15/25
  750  710,826
3.25%, 01/15/31
  400  345,523
      4,067,627
Multi-Utilities — 0.2%
Consolidated Edison Co. of New York, Inc.      
3.80%, 05/15/28
  350  340,418
2.40%, 06/15/31
  1,000  853,980
Series 20A, 3.35%, 04/01/30
  1,500  1,408,257
      2,602,655
 
9
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Oil, Gas & Consumable Fuels — 0.8%
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc., 4.49%, 05/01/30
USD           500 $  487,033
Cheniere Corpus Christi Holdings LLC, 3.70%, 11/15/29
        4,170  3,832,154
EQT Corp., 7.00%, 02/01/30
          510  545,743
Kinder Morgan, Inc., 2.00%, 02/15/31
          850  674,946
MPLX LP, 2.65%, 08/15/30
        2,030  1,692,198
ONEOK, Inc.      
2.20%, 09/15/25
          370  342,833
5.85%, 01/15/26
        1,000  1,025,387
6.35%, 01/15/31
        2,000  2,087,746
Vermilion Energy, Inc., 6.88%, 05/01/30(a)
        1,290  1,252,925
      11,940,965
Paper & Forest Products — 0.0%
Louisiana-Pacific Corp., 3.63%, 03/15/29(a)
          725  588,555
Pharmaceuticals — 0.5%
Astrazeneca Finance LLC      
1.20%, 05/28/26
        1,150  1,038,343
1.75%, 05/28/28
          800  706,245
Jazz Securities DAC, 4.38%, 01/15/29(a)
          700  631,218
Merck & Co., Inc., 2.15%, 12/10/31
        1,550  1,318,988
Novartis Capital Corp., 2.20%, 08/14/30
          520  456,944
Zoetis, Inc.      
4.50%, 11/13/25
          290  293,549
3.00%, 09/12/27
          640  606,440
2.00%, 05/15/30
  3,770  3,167,302
      8,219,029
Professional Services — 0.1%
ASGN, Inc., 4.63%, 05/15/28(a)
  1,595  1,409,623
Real Estate Management & Development — 0.1%
CBRE Services, Inc.      
4.88%, 03/01/26
  500  503,312
2.50%, 04/01/31
  2,000  1,605,422
      2,108,734
Road & Rail — 0.0%
Canadian National Railway Co., 3.85%, 08/05/32
  575  556,618
Semiconductors & Semiconductor Equipment — 0.7%
Applied Materials, Inc., 1.75%, 06/01/30
  900  754,844
Broadcom, Inc.      
4.15%, 04/15/32(a)
  1,240  1,108,339
4.30%, 11/15/32
  900  810,265
Entegris Escrow Corp., 5.95%, 06/15/30(a)
  900  853,947
NVIDIA Corp.      
3.20%, 09/16/26
  1,810  1,781,055
1.55%, 06/15/28
  600  522,305
2.00%, 06/15/31
  3,490  2,943,754
NXP BV/NXP Funding LLC, 5.55%, 12/01/28
  850  864,638
NXP BV/NXP Funding LLC/NXP U.S.A., Inc., 2.70%, 05/01/25
  800  757,900
Texas Instruments, Inc.      
1.90%, 09/15/31
  459  387,155
3.65%, 08/16/32
  745  719,766
      11,503,968
Software — 1.0%
Adobe, Inc., 2.30%, 02/01/30
  3,570  3,174,106
Electronic Arts, Inc., 1.85%, 02/15/31
  1,000  819,695
Intuit, Inc.      
1.35%, 07/15/27
  1,000  880,290
1.65%, 07/15/30
  4,690  3,863,408
Security   Par
(000) 		Value
Software (continued)
ServiceNow, Inc., 1.40%, 09/01/30
USD         3,000 $  2,351,478
VMware, Inc.      
1.80%, 08/15/28
        3,950  3,284,331
2.20%, 08/15/31
          960  748,437
      15,121,745
Specialty Retail — 0.3%
Home Depot, Inc.      
2.88%, 04/15/27
          350  336,675
1.50%, 09/15/28
        1,050  911,431
1.88%, 09/15/31
        1,420  1,175,996
Lowe’s Cos., Inc.      
4.00%, 04/15/25
          350  349,801
3.35%, 04/01/27
        1,500  1,445,860
1.70%, 09/15/28
        1,150  985,685
      5,205,448
Technology Hardware, Storage & Peripherals — 0.5%
Apple Inc.      
3.95%, 08/08/52
          590  544,454
4.10%, 08/08/62
          140  128,560
CDW LLC/CDW Finance Corp., 3.57%, 12/01/31
          226  189,826
HP, Inc.      
1.45%, 06/17/26
        2,500  2,233,771
4.75%, 01/15/28
        1,390  1,367,195
4.00%, 04/15/29
  1,550  1,451,955
4.20%, 04/15/32
  1,670  1,475,005
      7,390,766
Trading Companies & Distributors — 0.0%
GATX Corp., 3.50%, 06/01/32
  350  301,112
Wireless Telecommunication Services — 0.2%
Rogers Communications, Inc., 3.20%, 03/15/27(a)
  350  333,002
T-Mobile U.S.A., Inc., 2.70%, 03/15/32
  2,940  2,449,119
      2,782,121
Total Corporate Bonds — 20.7%

(Cost: $336,237,136)
319,968,410
    Shares/
Investment
Value 		 
Investment Companies(c)
Equity Funds — 2.8%
iShares MSCI Brazil ETF
      176,545    5,388,153
iShares MSCI China A ETF
      128,471  4,334,612
iShares MSCI India ETF
      263,848  11,350,741
iShares MSCI South Korea ETF
      171,621  9,938,572
iShares MSCI Taiwan ETF
      261,054  13,112,742
      44,124,820
Total Investment Companies — 2.8%

(Cost: $50,200,242)
44,124,820
    Shares  
Preferred Securities
Preferred Stocks — 0.1%
Banks — 0.0%
Bancolombia SA, Preference Shares
       24,294   167,738
Biotechnology — 0.0%
Grifols SA, Class B(b)
        1,625  12,726
 
10
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Chemicals — 0.1%
Sociedad Quimica y Minera de Chile SA, Class B
       16,651 $  1,664,673
Total Preferred Securities — 0.1%

(Cost: $1,709,057)
1,845,137
    Par
(000) 		 
U.S. Government Sponsored Agency Securities
Mortgage-Backed Securities — 7.6%
Fannie Mae Mortgage-Backed Securities      
2.00%, 04/01/37 - 01/01/52
USD        35,003    30,524,604
2.50%, 04/01/51 - 07/01/51
        7,595  6,809,223
3.00%, 09/01/34
          981  951,796
4.00%, 03/01/51
          944  931,690
Freddie Mac Mortgage-Backed Securities      
2.00%, 04/01/37
          988  911,664
2.50%, 07/01/51
        4,245  3,797,532
4.00%, 06/01/52 - 08/01/52
          672  656,976
Ginnie Mae Mortgage-Backed Securities      
1.50%, 09/15/52(d)
          100  84,752
2.00%, 10/20/51 - 09/15/52(d)
        7,322  6,477,285
2.50%, 07/20/51 - 09/15/52(d)
       16,317  14,895,031
3.00%, 06/20/52 - 09/15/52(d)
       15,181  14,255,539
3.50%, 07/20/52 - 09/15/52(d)
       10,942  10,553,463
4.00%, 07/20/52 - 09/20/52(d)
        9,023  8,912,937
Uniform Mortgage-Backed Securities      
1.50%, 09/01/37 - 09/01/52(d)
        6,239  5,316,157
2.00%, 09/01/37(d)
        2,186  2,015,449
2.50%, 09/01/37(d)
        3,975  3,760,102
3.00%, 09/01/37 - 09/01/52(d)
        4,400  4,181,001
3.50%, 09/01/52(d)
        1,025  976,553
4.00%, 09/01/52(d)
  1,675  1,634,826
  117,646,580
Total U.S. Government Sponsored Agency Securities — 7.6%

(Cost: $121,734,366)
117,646,580
U.S. Treasury Obligations
U.S. Treasury Bonds      
1.13%, 05/15/40
  23,000  15,654,375
2.25%, 05/15/41 - 02/15/52
  46,000  37,010,000
2.38%, 02/15/42
  10,000  8,289,063
3.00%, 02/15/47
  5,000  4,535,156
U.S. Treasury Notes      
2.50%, 03/31/27
  35,000  33,701,172
1.88%, 02/28/29 - 02/15/32
  33,000  29,864,687
2.38%, 05/15/29
  16,000  15,088,125
0.63%, 08/15/30
  5,000  4,101,758
Total U.S. Treasury Obligations — 9.6%

(Cost: $163,475,135)
148,244,336
Total Long-Term Investments — 91.7%

(Cost: $1,395,496,864)
1,420,629,388
Security   Shares Value
Short-Term Securities
Money Market Funds — 7.4%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 2.03%(c)(e)
  115,406,510 $  115,406,510
    Par
(000) 		 
U.S. Treasury Obligations(f) — 2.9%
U.S. Treasury Bills, 1.75%, 09/29/22
USD        45,000   44,925,415
Total Short-Term Securities — 10.3%

(Cost: $160,345,610)
160,331,925
Total Investments Before TBA Sale Commitments — 102.0%

(Cost: $1,555,842,474)
1,580,961,313
TBA Sale Commitments(d)
Mortgage-Backed Securities — (0.0)%
Uniform Mortgage-Backed Securities, 4.00%, 09/01/52
         (175)  (170,803)
Total TBA Sale Commitments — (0.0)%

(Proceeds: $(174,344))
(170,803)
Total Investments Net of TBA Sale Commitments — 102.0%

(Cost: $1,555,668,130)
1,580,790,510
Liabilities in Excess of Other Assets — (2.0)%
(31,198,490)
Net Assets — 100.0%
$  1,549,592,020
(a) 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.
(b) Non-income producing security.
(c) Affiliate of the Fund.
(d) Represents or includes a TBA transaction.
(e) Annualized 7-day yield as of period end.
(f) Zero-coupon bond.
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended August 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Value at
05/31/22 		Purchases
at Cost 		Proceeds
from Sale 		Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Value at
08/31/22 		Shares/
Investment
Value
Held at
08/31/22 		Income
(Expense) 		  Capital
Gain
Distributions
from Underlying
Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class
$  147,853,903 $  — $  (32,447,393)(a) $  —   $  —   $  115,406,510 115,406,510 $  477,836   $  —
iShares MSCI Brazil ETF
 5,319,190  692,824  —  —    (623,861)    5,388,153 176,545  226,216    —
iShares MSCI China A ETF
 4,428,395  —  —  —    (93,783)    4,334,612 128,471  8,416    —
iShares MSCI India ETF
 10,931,223  —  —  —    419,518    11,350,741 263,848  —    —
iShares MSCI South Korea ETF
 10,737,392  815,554  —  —    (1,614,374)    9,938,572 171,621  —    —
iShares MSCI Taiwan ETF
 15,453,788  3,009,408  (3,472,132)  (528,926)    (1,349,396)    13,112,742 261,054  —    —
SL Liquidity Series, LLC, Money Market Series(b)
 —  —  —(a)  —    —    — —  2,761(c)    —
        $  (528,926)   $  (3,261,896)   $  159,531,330   $  715,229   $  —
(a) Represents net shares/investment value purchased (sold).
(b) As of period end, the entity is no longer held by the Fund.
(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.
11
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
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        
TOPIX Index
218 09/08/22 $  30,788 $  806,749
S&P/Toronto Stock Exchange 60 Index
5 09/15/22  887  2,605
E-Mini S&P 500 Index
23 09/16/22  4,550  52,930
Mini MSCI EAFE Index
24 09/16/22  2,192  (46,874)
Mini MSCI Emerging Markets Index
19 09/16/22  933  (12,672)
U.S. Treasury Notes (10 Year)
432 12/20/22  50,503  (146,311)
         656,427
Short Contracts        
E-Mini S&P 500 Index
85 09/16/22  14,664  326,901
Mini MSCI EAFE Index
1 09/16/22  91  269
Mini MSCI Emerging Markets Index
15 09/16/22  737  32,366
U.S. Treasury Long-Term Bonds
78 12/20/22  10,596  10,241
U.S. Ultra Treasury Bonds
89 12/20/22  13,306  26,964
U.S. Ultra Treasury Bonds (10 Year)
39 12/20/22  4,882  16,919
U.S. Treasury Notes (2 Year)
58 12/30/22  12,083  28,321
U.S. Treasury Notes (5 Year)
1,123 12/30/22  124,451  645,005
         1,086,986
        $  1,743,413
Forward Foreign Currency Exchange Contracts
Currency Purchased Currency Sold Counterparty Settlement
Date 		Unrealized
Appreciation
(Depreciation)
USD 451,758 EUR 419,200 BNP Paribas SA 09/21/22 $  29,883
USD 442,369 GBP 353,700 BNP Paribas SA 09/21/22  31,307
USD 441,485 JPY 57,475,400 Bank of America N.A. 09/21/22  27,061
USD 4,099,940 JPY 564,066,000 Royal Bank of Canada 09/21/22  32,759
            $121,010
             
Centrally Cleared Credit Default Swaps — Buy Protection
Reference Obligation/Index Financing
Rate
Paid by
the
Fund 		Payment
Frequency 		Termination
Date 		Notional
Amount
(000) 		Value   Upfront
Premium
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation)
CDX.NA.HY.38.V2
5.00% Quarterly 06/20/27 USD 9,306 $  20,965   $  47,350   $  (26,385)
OTC Total Return Swaps
Paid by the Fund   Received by the Fund              
Reference Frequency   Rate Frequency Counterparty Termination
Date 		Notional
Amount
(000) 		Value Upfront
Premium
Paid
(Received) 		Unrealized
Appreciation
(Depreciation)
SOFR plus 0.09%, 0.79% Quarterly   MSCI ACWI ESG Universal Index Quarterly BNP Paribas S.A. 04/11/23 USD 95,206 $  1,533,874 $  — $  1,533,874
12
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
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 Valuation Committee’s assumptions used in determining the fair value of financial instruments).
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
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         
Aerospace & Defense
$  5,577,441 $  2,657,061 $  — $  8,234,502
Air Freight & Logistics
 1,979,667  851,053  —  2,830,720
Airlines
 —  89,625  —  89,625
Auto Components
 —  272,917  —  272,917
Automobiles
 11,806,843  11,189,961  —  22,996,804
Banks
 29,286,989  14,119,215  —  43,406,204
Beverages
 16,659,143  9,026,828  —  25,685,971
Biotechnology
 10,770,727  2,348,547  —  13,119,274
Building Products
 890,832  561,746  —  1,452,578
Capital Markets
 5,283,763  7,633,759  —  12,917,522
Chemicals
 299,772  8,157,298  —  8,457,070
Commercial Services & Supplies
 250,569  18,136  —  268,705
Communications Equipment
 579,512  936,021  —  1,515,533
Construction & Engineering
 316,049  2,593,036  —  2,909,085
Construction Materials
 —  273,095  —  273,095
Consumer Finance
 13,284,534  30,811  —  13,315,345
Distributors
 —  50,200  —  50,200
Diversified Consumer Services
 720,489  17,290  —  737,779
Diversified Financial Services
 6,956,423  1,087,096  —  8,043,519
Diversified Telecommunication Services
 3,062,808  5,181,749  —  8,244,557
Electric Utilities
 8,936,447  4,744,982  —  13,681,429
Electrical Equipment
 114,753  1,880,083  —  1,994,836
Electronic Equipment, Instruments & Components
 521,662  2,545,195  —  3,066,857
Energy Equipment & Services
 1,144,386  —  —  1,144,386
Entertainment
 —  647,949  —  647,949
Equity Real Estate Investment Trusts (REITs)
 14,867,256  3,247,158  —  18,114,414
Food & Staples Retailing
 3,027,870  2,280,382  —  5,308,252
Food Products
 2,654,391  13,579,384  —  16,233,775
Gas Utilities
 —  193,494  —  193,494
Health Care Equipment & Supplies
 17,366,737  1,656,993  —  19,023,730
Health Care Providers & Services
 21,536,875  242,765  —  21,779,640
13
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
Fair Value Hierarchy as of Period End (continued)
  Level 1   Level 2   Level 3   Total
Common Stocks (continued)              
Health Care Technology
$  93,481   $  —   $  —   $  93,481
Hotels, Restaurants & Leisure
 10,303,594    4,534,437    —    14,838,031
Household Durables
 444,798    804,591    —    1,249,389
Household Products
 10,755,173    465,673    —    11,220,846
Independent Power and Renewable Electricity Producers
 491,677    969,230    —    1,460,907
Industrial Conglomerates
 7,310,477    4,808,451    —    12,118,928
Insurance
 18,841,151    10,358,116    —    29,199,267
Interactive Media & Services
 32,059,707    8,160,497    —    40,220,204
Internet & Direct Marketing Retail
 15,340,191    4,676,856    —    20,017,047
IT Services
 29,153,519    2,429,224    —    31,582,743
Leisure Products
 —    477,461    —    477,461
Life Sciences Tools & Services
 9,671,762    882,604    —    10,554,366
Machinery
 26,708    4,789,829    —    4,816,537
Marine
 18,966    1,607,595    —    1,626,561
Media
 10,558,404    21,367    —    10,579,771
Metals & Mining
 7,232,313    4,357,070    —    11,589,383
Multiline Retail
 100,699    —    —    100,699
Multi-Utilities
 —    6,146,217    —    6,146,217
Oil, Gas & Consumable Fuels
 28,570,317    8,224,430    —    36,794,747
Paper & Forest Products
 119,974    —    —    119,974
Personal Products
 868,453    5,195,922    —    6,064,375
Pharmaceuticals
 33,450,488    14,956,979    —    48,407,467
Professional Services
 3,471,599    10,371,627    —    13,843,226
Real Estate Management & Development
 312,299    3,552,877    —    3,865,176
Road & Rail
 2,918,314    282,335    —    3,200,649
Semiconductors & Semiconductor Equipment
 28,310,663    8,084,447    —    36,395,110
Software
 54,012,511    2,536,154    —    56,548,665
Specialty Retail
 19,888,047    559,316    —    20,447,363
Technology Hardware, Storage & Peripherals
 47,742,316    458,954    —    48,201,270
Textiles, Apparel & Luxury Goods
 5,099,592    10,448,702    —    15,548,294
Thrifts & Mortgage Finance
 555,742    —    —    555,742
Trading Companies & Distributors
 1,873,019    8,970,551    —    10,843,570
Transportation Infrastructure
 69,842    183,947    —    253,789
Water Utilities
 —    953,270    —    953,270
Wireless Telecommunication Services
 —    2,855,813    —    2,855,813
Corporate Bonds 
 —    319,968,410    —    319,968,410
Investment Companies 
 44,124,820    —    —    44,124,820
Preferred Securities               
Preferred Stocks
 1,832,411    12,726    —    1,845,137
U.S. Government Sponsored Agency Securities
 —    117,646,580    —    117,646,580
U.S. Treasury Obligations
 —    148,244,336    —    148,244,336
Short-Term Securities              
Money Market Funds
 115,406,510    —    —    115,406,510
U.S. Treasury Obligations
 —    44,925,415    —    44,925,415
Liabilities              
TBA Sale Commitments
 —    (170,803)    —    (170,803)
  $  718,925,475   $  861,865,035   $  —   $  1,580,790,510
Derivative Financial Instruments(a)              
Assets              
Equity Contracts
$  415,071   $  2,340,623   $  —   $  2,755,694
Foreign Currency Exchange Contracts
 —    121,010    —    121,010
Interest Rate Contracts
 727,450    —    —    727,450
Liabilities              
Credit Contracts
 —    (26,385)    —     (26,385)
Equity Contracts
 (59,546)    —    —     (59,546)
Interest Rate Contracts
 (146,311)    —    —    (146,311)
  $  936,664   $  2,435,248   $  —   $  3,371,912
(a) Derivative financial instruments are swaps, futures contracts and forward foreign currency exchange contracts. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.
14
Schedule of Investments (unaudited)  (continued)
August 31, 2022
BlackRock Sustainable Balanced Fund, Inc.
Currency Abbreviation 
EUR Euro
GBP British Pound
JPY Japanese Yen
USD United States Dollar
Portfolio Abbreviation 
ADR American Depositary Receipt
DAC Designated Activity Co.
ETF Exchange-Traded Fund
LP Limited Partnership
MTN Medium-Term Note
OTC Over-the-Counter
REIT Real Estate Investment Trust
S&P Standard & Poor’s
SOFR Secured Overnight Financing Rate
TBA To-be-Announced
TOPIX Tokyo Stock Price Index
15