NPORT-EX 2 BRFBCP0BR103147.htm
Schedule of Investments (unaudited)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Common Stocks
Aerospace & Defense — 0.2%
Aerospace Industrial Development Corp.
      58,000 $  112,756
BAE Systems PLC
      44,837  570,675
Embraer SA(a)
       7,273  28,522
Saab AB, Class B
      26,322  1,387,542
Textron, Inc.
         419  32,560
Thales SA
       5,480  799,145
      2,931,200
Air Freight & Logistics — 0.1%
CJ Logistics Corp.
      10,706  638,548
FedEx Corp.
         739  192,894
Hyundai Glovis Co. Ltd.
         616  80,321
JD Logistics, Inc.(a)(b)
      20,800  27,726
Nippon Express Holdings, Inc.
       7,300  379,085
      1,318,574
Automobile Components — 0.1%
Fuyao Glass Industry Group Co. Ltd., Class H(b)
      15,600  70,588
HL Mando Co. Ltd.
       1,057  33,462
Hyundai Mobis Co. Ltd.
         524  91,483
Hyundai Wia Corp.
         871  37,903
Lear Corp.
       4,048  583,276
Tong Yang Industry Co. Ltd.
      12,000  25,490
Valeo SE
       4,123  80,144
Visteon Corp.(a)
  366  50,973
      973,319
Automobiles — 2.1%
BYD Co. Ltd., Class A
  161,900  5,552,859
BYD Co. Ltd., Class H
  17,000  533,982
Ford Motor Co.
  155,875  1,890,764
Geely Automobile Holdings Ltd.
  502,000  623,171
General Motors Co.
  217,863  7,300,589
Mercedes-Benz Group AG, Class N
  100,432  7,349,087
Renault SA
  2,359  95,184
Tesla, Inc.(a)
  34,275  8,845,692
Yadea Group Holdings Ltd.(b)
  70,000  134,585
      32,325,913
Banks — 3.5%
ABN AMRO Bank NV, CVA(b)
  7,955  117,017
Banco Bilbao Vizcaya Argentaria SA
  352,990  2,785,051
Bancolombia SA
  6,422  45,686
Bank Central Asia Tbk PT
  2,142,400  1,289,737
Bank Hapoalim BM
  3,750  31,047
Bank Negara Indonesia Persero Tbk PT
  213,100  128,330
Bank of America Corp.
  328,952  9,431,054
Bank of Nova Scotia
  30,590  1,451,621
Bank Polska Kasa Opieki SA
  9,895  258,319
Bank Rakyat Indonesia Persero Tbk PT
  1,163,400  423,822
Barclays PLC
  310,539  578,428
BAWAG Group AG(b)
  12,006  565,635
Canadian Imperial Bank of Commerce
  10,632  421,283
Chang Hwa Commercial Bank Ltd.
  46,125  25,032
China Merchants Bank Co. Ltd., Class H
  95,000  376,183
Citigroup, Inc.
  58,051  2,396,926
Commonwealth Bank of Australia
  1,483  97,696
CTBC Financial Holding Co. Ltd.
  50,000  37,371
DBS Group Holdings Ltd.
  25,400  625,187
DNB Bank ASA
  141,999  2,806,831
E.Sun Financial Holding Co. Ltd.
  152,491  116,947
Erste Group Bank AG
  3,765  134,312
First Financial Holding Co. Ltd.
  38,110  31,453
Security   Shares Value
Banks (continued)
Grupo Financiero Banorte SAB de CV, Class O
      77,276 $  655,943
Hana Financial Group, Inc.
       4,797  143,347
Industrial & Commercial Bank of China Ltd., Class H
     189,000  86,652
ING Groep NV
     507,550  7,191,478
Intesa Sanpaolo SpA
   1,031,481  2,754,467
Israel Discount Bank Ltd., Class A
       9,080  45,413
JPMorgan Chase & Co.
       7,806  1,142,252
KakaoBank Corp.
       3,365  66,936
KB Financial Group, Inc.
       4,915  200,219
Lloyds Banking Group PLC
      44,256  23,644
Mediobanca Banca di Credito Finanziario SpA
      35,738  466,544
Mitsubishi UFJ Financial Group, Inc.
     322,900  2,575,993
Mizuho Financial Group, Inc.
     118,900  1,959,356
National Australia Bank Ltd.
     123,684  2,305,035
NatWest Group PLC
      80,619  234,447
Postal Savings Bank of China Co. Ltd., Class H(b)
      51,000  25,155
Shanghai Commercial & Savings Bank Ltd.
      16,099  21,532
Shinhan Financial Group Co. Ltd.
       2,859  76,797
Société Générale SA
      62,100  1,759,365
Standard Chartered PLC
      16,097  144,836
Swedbank AB, A Shares
     288,106  5,098,821
Taiwan Cooperative Financial Holding Co. Ltd.
     113,400  93,452
UniCredit SpA
      73,312  1,786,109
Wells Fargo & Co.
  6,494  268,137
      53,300,898
Beverages — 1.5%
Ambev SA
  97,043  270,824
Arca Continental SAB de CV
  13,777  134,534
Budweiser Brewing Co. APAC Ltd.(b)
  267,700  579,690
China Resources Beer Holdings Co. Ltd.
  14,000  82,199
Coca-Cola Co.
  145,330  8,695,094
Coca-Cola Femsa SAB de CV
  32,982  279,904
Kirin Holdings Co. Ltd.
  117,600  1,651,017
Molson Coors Beverage Co., Class B
  3,019  191,676
PepsiCo, Inc.
  48,336  8,599,941
Pernod Ricard SA
  12,476  2,448,460
Remy Cointreau SA
  483  74,717
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A
  3,600  119,798
Tsingtao Brewery Co. Ltd., Class H
  6,000  49,894
      23,177,748
Biotechnology — 0.9%
3SBio, Inc.(b)
  295,000  246,700
AbbVie, Inc.
  23,718  3,485,597
Akeso, Inc., Class B(a)(b)
  7,000  30,745
Alkermes PLC(a)
  902  26,329
Amgen, Inc.
  9,069  2,324,748
BeiGene Ltd.(a)
  2,500  40,105
Biogen, Inc.(a)
  304  81,278
BioMarin Pharmaceutical, Inc.(a)
  1,809  165,306
Celltrion, Inc.
  458  49,842
CSL Ltd.
  4,119  727,411
Exact Sciences Corp.(a)(c)
  2,528  211,518
Genmab A/S(a)
  2,114  809,948
Gilead Sciences, Inc.
  11,856  906,747
Incyte Corp.(a)
  9,300  600,129
Innovent Biologics, Inc.(a)(b)
  59,500  266,093
Moderna, Inc.(a)
  778  87,969
Neurocrine Biosciences, Inc.(a)
  5,426  590,837
PharmaEssentia Corp.(a)
  1,000  11,230
Regeneron Pharmaceuticals, Inc.(a)
  970  801,695
 
1
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Biotechnology (continued)
Shanghai Junshi Biosciences Co. Ltd., Class H(a)(b)
      21,400 $  58,400
Vertex Pharmaceuticals, Inc.(a)
       4,790  1,668,549
      13,191,176
Broadline Retail — 2.4%
Alibaba Group Holding Ltd.(a)
     282,400  3,277,576
Amazon.com, Inc.(a)
     176,734  24,391,059
eBay, Inc.
     156,736  7,018,638
Etsy, Inc.(a)
      19,890  1,463,307
JD.com, Inc., Class A
      27,350  454,232
MercadoLibre, Inc.(a)
         264  362,303
momo.com, Inc.
       2,200  35,884
Poya International Co. Ltd.
       4,040  61,564
Shinsegae, Inc.
         720  110,424
Woolworths Holdings Ltd.
       7,666  30,112
      37,205,099
Building Products — 0.1%
Belimo Holding AG, Registered Shares
         314  165,164
Johnson Controls International PLC
       3,799  224,369
Owens Corning
       2,472  355,746
Trane Technologies PLC
       6,034  1,238,539
      1,983,818
Capital Markets — 1.5%
Bank of New York Mellon Corp.
      33,907  1,521,407
Deutsche Bank AG, Registered Shares
  49,054  533,647
Haitong Securities Co. Ltd., Class H
  34,400  21,344
Macquarie Group Ltd.
  41,067  4,695,214
Moody’s Corp.
  21,877  7,368,174
MSCI, Inc., Class A
  750  407,715
Nasdaq, Inc.
  8,004  420,050
S&P Global, Inc.
  20,708  8,093,929
      23,061,480
Chemicals — 0.6%
BASF SE
  993  50,263
Croda International PLC
  3,201  223,551
DuPont de Nemours, Inc.
  17,675  1,359,031
Ecolab, Inc.
  1,986  365,047
Hanwha Solutions Corp.(a)
  10,347  284,799
Jinan Acetate Chemical Co. Ltd.
  6,271  183,481
KCC Corp.
  729  120,339
Kolon Industries, Inc.
  826  31,701
LG Chem Ltd.
  945  416,091
LyondellBasell Industries NV, Class A
  1,038  102,523
Nitto Denko Corp.
  4,100  279,712
Novozymes A/S, B Shares
  66,782  2,890,712
Shanghai Putailai New Energy Technology Co. Ltd., Class A
  68,605  308,525
Sherwin-Williams Co.
  2,224  604,305
SK IE Technology Co. Ltd.(a)(b)
  895  61,027
SKC Co. Ltd.
  344  23,772
Skshu Paint Co. Ltd., Class A(a)
  2,220  23,022
Solvay SA
  7,217  835,711
Sumitomo Chemical Co. Ltd.
  237,700  658,031
      8,821,643
Commercial Services & Supplies — 0.1%
Republic Services, Inc.
  5,276  760,430
Tetra Tech, Inc.
  5,637  886,982
      1,647,412
Communications Equipment — 0.2%
Accton Technology Corp.
  12,000  178,972
BYD Electronic International Co. Ltd.
  11,500  53,262
Security   Shares Value
Communications Equipment (continued)
Cisco Systems, Inc.
      37,226 $  2,134,911
Sercomm Corp.
      22,000  83,602
Wistron NeWeb Corp.
      30,000  125,718
Zhongji Innolight Co. Ltd., Class A
       3,500  55,123
ZTE Corp., Class A
      52,800  257,004
ZTE Corp., Class H
      86,800  279,358
      3,167,950
Construction & Engineering — 0.8%
AECOM
      69,770  6,122,318
China State Construction Engineering Corp. Ltd., Class A
      35,300  27,302
Daewoo Engineering & Construction Co. Ltd.(a)
      33,024  114,773
DL E&C Co. Ltd.
       1,022  23,936
Eiffage SA
       3,358  331,881
EMCOR Group, Inc.
       9,608  2,154,594
Fluor Corp.(a)
       1,366  47,796
Hyundai Engineering & Construction Co. Ltd.
       2,055  55,119
JGC Holdings Corp.
      12,200  162,877
Stantec, Inc.
      47,316  3,160,703
Worley Ltd.
       7,493  84,252
      12,285,551
Construction Materials — 0.0%
Taiwan Cement Corp.
      22,000  24,119
Consumer Finance — 0.4%
American Express Co.
  30,059  4,749,021
Lufax Holding Ltd., ADR
  6,549  7,924
Synchrony Financial
  54,938  1,773,399
      6,530,344
Consumer Staples Distribution & Retail — 1.4%
Cia Brasileira de Distribuicao(a)
  8,897  8,893
Coles Group Ltd.
  4,838  50,903
Empire Co. Ltd.
  7,821  203,744
Kroger Co.
  25,009  1,160,168
Lawson, Inc.
  48,700  2,324,504
Marks & Spencer Group PLC(a)
  74,188  212,786
Metro, Inc.
  6,682  344,386
Ping An Healthcare and Technology Co. Ltd.(a)(b)
  5,600  13,978
Sendas Distribuidora SA
  27,772  64,999
Shoprite Holdings Ltd.
  11,905  166,317
Target Corp.
  18,298  2,315,612
Tesco PLC
  191,845  645,421
Tsuruha Holdings, Inc.
  44,300  3,241,070
Walmart, Inc.
  62,143  10,105,073
      20,857,854
Containers & Packaging — 0.0%
AptarGroup, Inc.
  3,004  398,210
Diversified Consumer Services — 0.0%
Cogna Educacao(a)
  1,054,950  626,317
New Oriental Education & Technology Group, Inc.(a)
  16,300  88,432
YDUQS Participacoes SA
  34,512  141,824
      856,573
Diversified Telecommunication Services — 0.2%
Deutsche Telekom AG, Registered Shares
  22,828  488,600
Koninklijke KPN NV
  37,731  132,036
Nippon Telegraph & Telephone Corp.
  1,917,900  2,214,476
Telkom Indonesia Persero Tbk PT
  1,260,700  308,164
      3,143,276
Electric Utilities — 0.5%
Acciona SA
  3,403  486,352
 
2
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Electric Utilities (continued)
CPFL Energia SA
      35,121 $  243,192
Enel SpA
     800,594  5,375,848
Energisa SA
      11,257  105,363
Iberdrola SA
      15,245  180,847
NextEra Energy, Inc.
       8,209  548,361
SSE PLC
      13,791  283,394
Terna - Rete Elettrica Nazionale
       6,890  56,819
      7,280,176
Electrical Equipment — 0.9%
ABB Ltd., Registered Shares
     194,268  7,387,670
AMETEK, Inc.
       6,250  996,938
Bizlink Holding, Inc.
      14,851  116,165
Chung-Hsin Electric & Machinery Manufacturing Corp.
       9,000  32,054
Contemporary Amperex Technology Co. Ltd., Class A
      53,080  1,724,201
Goldwind Science & Technology Co. Ltd., Class A
     377,000  491,853
Guangzhou Great Power Energy & Technology Co. Ltd., Class A(a)
      20,500  100,850
Legrand SA
       3,151  310,435
LS Electric Co. Ltd.
       1,569  118,300
Nordex SE(a)
      11,054  132,175
Schneider Electric SE
       5,147  882,239
Shenzhen Kstar Science And Technology Co. Ltd., Class A
      45,400  189,036
Signify NV(b)
      17,331  489,901
Sunwoda Electronic Co. Ltd., Class A
      22,900  49,828
Voltronic Power Technology Corp.
  1,000  45,388
Xinjiang Goldwind Science & Technology Co. Ltd., Class H
  77,000  40,390
      13,107,423
Electronic Equipment, Instruments & Components — 0.4%
Chroma ATE, Inc.
  28,000  244,940
Delta Electronics, Inc.
  82,000  886,166
FLEXium Interconnect, Inc.
  18,000  51,284
Hengdian Group DMEGC Magnetics Co. Ltd., Class A
  59,200  133,381
Keysight Technologies, Inc.(a)
  19,899  2,652,537
KH Vatec Co. Ltd.
  2,585  29,368
Omron Corp.
  18,900  911,972
Primax Electronics Ltd.
  52,000  107,994
Shimadzu Corp.
  7,700  226,278
Sinbon Electronics Co. Ltd.
  4,000  38,860
Spectris PLC
  10,215  429,687
Sunny Optical Technology Group Co. Ltd.
  2,400  19,596
Tripod Technology Corp.
  6,000  35,536
      5,767,599
Energy Equipment & Services — 0.0%
ARC Resources Ltd.
  16,938  258,357
Tenaris SA
  8,679  138,602
      396,959
Entertainment — 0.5%
CJ ENM Co. Ltd.(a)
  633  27,852
Electronic Arts, Inc.
  34,008  4,080,280
NCSoft Corp.
  348  66,116
NetEase, Inc.
  3,000  62,153
Nintendo Co. Ltd.
  58,100  2,491,147
Spotify Technology SA(a)
  2,596  399,706
Security   Shares Value
Entertainment (continued)
Studio Dragon Corp.(a)
         800 $  31,204
Toho Co. Ltd
      15,500  590,778
      7,749,236
Financial Services — 1.6%
Berkshire Hathaway, Inc., Class B(a)
      13,079  4,711,056
Block, Inc., Class A(a)
      18,457  1,064,046
Chailease Holding Co. Ltd.
      13,260  73,917
Cielo SA
     335,817  253,623
FirstRand Ltd.
      49,744  193,276
Groupe Bruxelles Lambert NV
       5,048  406,482
Mastercard, Inc., Class A
      28,513  11,765,604
Sofina SA
          82  18,423
StoneCo Ltd., Class A(a)
      23,817  291,996
Visa, Inc., Class A
      22,145  5,440,584
      24,219,007
Food Products — 1.2%
BRF SA(a)
     172,094  311,726
Chocoladefabriken Lindt & Spruengli AG, NVS
          38  454,206
General Mills, Inc.
      84,970  5,749,070
Grupo Bimbo SAB de CV, Series A
      28,229  138,889
Minerva SA
      14,766  25,226
Nestlé SA, Registered Shares
      89,708  10,786,438
Nissin Foods Holdings Co. Ltd.
         400  34,933
Tingyi Cayman Islands Holding Corp.
  66,000  96,908
Uni-President China Holdings Ltd.
  131,000  96,884
Want Want China Holdings Ltd.
  47,000  31,085
      17,725,365
Gas Utilities — 0.0%
ENN Energy Holdings Ltd.
  1,900  14,907
Perusahaan Gas Negara Tbk PT
  1,340,900  120,969
      135,876
Ground Transportation — 0.3%
Localiza Rent a Car SA
  54,561  697,651
Uber Technologies, Inc.(a)
  77,510  3,660,797
      4,358,448
Health Care Equipment & Supplies — 1.3%
Align Technology, Inc.(a)
  885  327,574
Boston Scientific Corp.(a)
  151,037  8,146,936
Edwards Lifesciences Corp.(a)
  18,871  1,443,066
Medtronic PLC
  37,452  3,052,338
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A
  2,200  81,703
Stryker Corp.
  23,177  6,571,838
Zimmer Biomet Holdings, Inc.
  1,210  144,135
      19,767,590
Health Care Providers & Services — 1.2%
Cigna Group
  4,874  1,346,491
CVS Health Corp.
  60,682  3,954,646
Elevance Health, Inc.
  11,361  5,021,676
Fleury SA
  167,664  498,044
Humana, Inc.
  1,711  789,849
McKesson Corp.
  976  402,424
Qualicorp Consultoria e Corretora de Seguros SA
  130,057  92,972
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
  55,700  91,578
Sinopharm Group Co. Ltd., Class H
  64,000  185,723
UnitedHealth Group, Inc.
  13,993  6,668,784
      19,052,187
 
3
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Health Care Technology — 0.0%
Teladoc Health, Inc.(a)
      16,443 $  372,269
Hotel & Resort REITs — 0.0%
RLJ Lodging Trust
          17  170
Hotels, Restaurants & Leisure — 0.9%
Alsea SAB de CV(a)
     174,398  615,950
Aristocrat Leisure Ltd.
     164,672  4,347,027
Booking Holdings, Inc.(a)
         270  838,358
Boyd Gaming Corp.
         615  41,125
Domino’s Pizza, Inc.
           5  1,937
InterContinental Hotels Group PLC
       8,773  659,865
MakeMyTrip Ltd.(a)
      11,881  471,200
McDonald’s Corp.
      11,185  3,144,663
Meituan, Class B(a)(b)
      49,170  813,722
Royal Caribbean Cruises Ltd.(a)
       4,025  398,234
Travel + Leisure Co.
      33,740  1,356,348
Trip.com Group Ltd.(a)
      15,581  613,673
Xiabuxiabu Catering Management China Holdings Co. Ltd.(b)
      79,000  38,179
Yum China Holdings, Inc.
       5,083  272,906
Yum! Brands, Inc.
       6,659  861,541
      14,474,728
Household Durables — 0.1%
Barratt Developments PLC
     134,282  769,768
Bellway PLC
       2,427  65,672
DR Horton, Inc.
  4,696  558,918
Electrolux AB, Class B
  1,563  17,189
Gree Electric Appliances, Inc. of Zhuhai, Class A
  76,400  375,765
Lennar Corp., Class A
  2,089  248,779
Nikon Corp.
  3,400  36,670
Sekisui House Ltd.
  5,300  108,011
Taylor Wimpey PLC
  20,611  29,787
      2,210,559
Household Products — 0.2%
Colgate-Palmolive Co.
  34,601  2,542,135
Independent Power and Renewable Electricity Producers — 0.0%
Auren Energia SA
  31,539  87,891
CECEP Solar Energy Co. Ltd., Class A
  33,500  27,733
China Datang Corp. Renewable Power Co. Ltd., Class H
  58,000  14,424
Drax Group PLC
  47,725  333,728
      463,776
Industrial Conglomerates — 1.5%
3M Co.
  58,720  6,263,662
Doosan Co. Ltd.
  717  63,696
General Electric Co.
  24,374  2,789,848
Honeywell International, Inc.
  44,066  8,281,764
Samsung C&T Corp.
  1,024  81,017
Siemens AG, Registered Shares
  27,968  4,201,656
Smiths Group PLC
  49,485  1,026,312
      22,707,955
Industrial REITs — 0.1%
Segro PLC
  118,504  1,104,726
Tritax Big Box REIT PLC
  26,791  47,852
      1,152,578
Insurance — 1.8%
AIA Group Ltd.
  614,800  5,562,870
Allianz SE, Registered Shares
  3,034  737,502
ASR Nederland NV
  9,449  413,154
AXA SA
  19,264  578,785
Security   Shares Value
Insurance (continued)
Cathay Financial Holding Co. Ltd.
      40,019 $  57,221
Chubb Ltd.
       2,438  489,721
Direct Line Insurance Group PLC
      29,862  61,195
Hyundai Marine & Fire Insurance Co. Ltd.
       1,452  33,200
Manulife Financial Corp.
     297,404  5,498,188
MetLife, Inc.
     116,313  7,367,265
MS&AD Insurance Group Holdings, Inc.
       2,600  93,370
NN Group NV
      23,830  917,347
Ping An Insurance Group Co. of China Ltd., H Shares
     101,500  607,696
Prudential Financial, Inc.
      13,001  1,230,805
Sompo Holdings, Inc.
       1,100  47,869
Tokio Marine Holdings, Inc.
       2,100  46,344
Travelers Cos., Inc.
      20,351  3,281,192
      27,023,724
Interactive Media & Services — 2.8%
AfreecaTV Co. Ltd.
       2,616  161,428
Alphabet, Inc., Class A(a)
      98,580  13,423,638
Alphabet, Inc., Class C, NVS(a)
      90,403  12,416,852
Auto Trader Group PLC(b)
     190,058  1,457,453
Baidu, Inc., Class A(a)
      61,750  1,102,808
JOYY, Inc., ADR
       3,231  110,888
Kuaishou Technology(a)(b)
      43,500  356,088
Meta Platforms, Inc., Class A(a)
      27,433  8,117,150
NAVER Corp.
  283  45,810
Rightmove PLC
  9,517  67,363
Scout24 SE(b)
  5,267  362,825
Tencent Holdings Ltd.
  125,000  5,180,046
      42,802,349
IT Services — 0.9%
Accenture PLC, Class A
  19,862  6,430,720
Akamai Technologies, Inc.(a)
  2,207  231,934
Gartner, Inc.(a)
  4,156  1,453,270
Obic Co. Ltd.
  100  17,387
Samsung SDS Co. Ltd.
  816  87,572
VeriSign, Inc.(a)
  24,713  5,135,114
Wix.com Ltd.(a)
  3,984  393,500
      13,749,497
Leisure Products — 0.1%
Sega Sammy Holdings, Inc.
  43,100  860,138
Life Sciences Tools & Services — 0.5%
Agilent Technologies, Inc.
  59,881  7,249,793
Mettler-Toledo International, Inc.(a)
  456  553,347
Pharmaron Beijing Co. Ltd., Class H(b)
  4,275  9,968
WuXi AppTec Co. Ltd., H Shares(b)
  22,200  243,273
      8,056,381
Machinery — 0.9%
Amada Co. Ltd.
  217,300  2,299,785
Caterpillar, Inc.
  6,298  1,770,557
Cummins, Inc.
  1,906  438,456
Deere & Co.
  566  232,592
Doosan Bobcat, Inc.
  831  33,768
GEA Group AG
  6,677  263,296
Graco, Inc.
  9,745  769,270
Hyundai Construction Equipment Co. Ltd.
  1,451  78,024
ITT, Inc.
  257  26,286
Kone Oyj, Class B
  841  38,256
Oshkosh Corp.
  12,555  1,303,586
Otis Worldwide Corp.
  56,921  4,869,592
Spirax-Sarco Engineering PLC
  1,760  225,538
 
4
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Machinery (continued)
Wartsila Oyj Abp
      52,732 $  669,216
Weir Group PLC
       2,452  56,837
Xylem, Inc.
      10,466  1,083,650
      14,158,709
Marine Transportation — 0.1%
COSCO SHIPPING Holdings Co. Ltd., Class H
      85,000  87,166
Evergreen Marine Corp. Taiwan Ltd.
      26,000  86,828
HMM Co. Ltd.
       1,571  19,777
Kuehne + Nagel International AG, Registered Shares
       3,634  1,091,817
Orient Overseas International Ltd.
       1,500  20,117
Pan Ocean Co. Ltd.
       7,293  24,581
Wisdom Marine Lines Co. Ltd.
      45,000  64,687
      1,394,973
Media — 0.1%
Cheil Worldwide, Inc.
       1,203  17,149
Fox Corp., Class A, NVS
      36,968  1,222,162
Fox Corp., Class B
      37,323  1,139,098
      2,378,409
Metals & Mining — 1.1%
Aluminum Corp. of China Ltd., Class H
     134,000  64,646
Anglo American PLC
      42,429  1,128,259
Anglo American PLC
      37,870  1,012,368
Antofagasta PLC
       1,927  35,291
ArcelorMittal SA
  169,806  4,510,826
Aurubis AG
  3,183  263,198
Boliden AB
  22,254  591,745
Cia Brasileira de Aluminio
  7,679  6,637
CMOC Group Ltd., Class H
  531,000  316,776
CSN Mineracao SA
  120,209  104,138
Gold Fields Ltd.
  4,991  63,853
Grupo Mexico SAB de CV
  9,058  43,297
Jiangxi Copper Co. Ltd., Class A
  12,800  33,130
Jiangxi Copper Co. Ltd., Class H
  26,000  40,495
MMG Ltd.(a)
  84,000  27,874
Outokumpu Oyj
  30,842  143,688
POSCO Holdings, Inc.
  1,152  503,704
Rio Tinto PLC
  4,315  265,738
Southern Copper Corp.
  768  61,947
thyssenkrupp AG
  232,115  1,783,753
Wheaton Precious Metals Corp.
  121,843  5,314,851
      16,316,214
Multi-Utilities — 0.4%
A2A SpA
  92,999  177,975
Centrica PLC
  691,983  1,328,169
E.ON SE, Class N
  34,020  418,775
Engie SA
  191,317  3,081,014
Sempra
  13,584  953,868
      5,959,801
Oil, Gas & Consumable Fuels — 2.4%
Aker BP ASA
  16,417  446,508
AKR Corporindo Tbk PT
  847,800  77,893
BP PLC
  141,890  876,779
Chevron Corp.
  42,197  6,797,937
China Petroleum & Chemical Corp., Class H
  330,000  192,953
ConocoPhillips
  52,099  6,201,344
Crescent Point Energy Corp.
  42,625  350,792
Enbridge, Inc.
  217,878  7,649,595
Enerplus Corp.
  25,063  428,661
Equinor ASA
  47,221  1,450,215
Security   Shares Value
Oil, Gas & Consumable Fuels (continued)
Exxon Mobil Corp.
      34,670 $  3,854,957
HD Hyundai Co. Ltd.
         468  20,906
Marathon Petroleum Corp.
       1,394  199,021
Parkland Corp.
         688  18,203
Petroleo Brasileiro SA
      26,671  183,873
Pioneer Natural Resources Co.
      10,225  2,432,834
Repsol SA
       2,044  31,592
Shell PLC
       2,376  72,647
SK Innovation Co. Ltd.(a)
         340  45,605
Tourmaline Oil Corp.
       7,178  368,090
Ultrapar Participacoes SA
      86,332  316,943
Valero Energy Corp.
      40,567  5,269,653
Var Energi ASA
       8,372  24,351
      37,311,352
Paper & Forest Products — 0.0%
Dexco SA
      10,535  17,040
West Fraser Timber Co. Ltd.
         245  18,520
      35,560
Passenger Airlines — 0.2%
ANA Holdings, Inc.(a)
      28,800  650,164
easyJet PLC(a)
       9,875  52,752
Singapore Airlines Ltd.
     311,100  1,580,743
United Airlines Holdings, Inc.(a)
       3,227  160,737
      2,444,396
Personal Care Products — 0.2%
L’Oreal SA
  1,463  642,597
Natura & Co. Holding SA(a)
  180,237  554,682
Unilever PLC
  34,809  1,777,670
      2,974,949
Pharmaceuticals — 3.0%
Astellas Pharma, Inc.
  290,900  4,401,424
AstraZeneca PLC
  1,411  189,529
Bristol-Myers Squibb Co.
  72,578  4,474,434
China Medical System Holdings Ltd.
  15,000  21,604
CSPC Pharmaceutical Group Ltd.
  28,000  21,045
Eli Lilly & Co.
  11,147  6,177,667
GSK PLC
  88,232  1,545,467
Johnson & Johnson
  43,147  6,976,007
Nippon Shinyaku Co. Ltd.
  4,900  214,504
Novartis AG, Registered Shares
  95,741  9,635,544
Novo Nordisk A/S, Class B
  35,290  6,509,372
Ono Pharmaceutical Co. Ltd.
  17,000  321,163
Otsuka Holdings Co. Ltd.
  38,100  1,447,485
Pfizer, Inc.
  28,397  1,004,686
Shionogi & Co. Ltd.
  53,300  2,340,901
Sino Biopharmaceutical Ltd.
  93,000  35,302
      45,316,134
Professional Services — 1.0%
ExlService Holdings, Inc.(a)
  6,575  192,187
Experian PLC
  85,858  2,998,472
Genpact Ltd.
  47,278  1,764,888
KBR, Inc.
  4,837  297,572
ManpowerGroup, Inc.
  6,977  550,276
Paychex, Inc.
  15,202  1,858,140
Recruit Holdings Co. Ltd.
  88,100  3,138,342
RELX PLC
  14,346  467,605
Robert Half, Inc.
  11,674  863,409
Wolters Kluwer NV, Class C
  25,546  3,078,047
      15,208,938
 
5
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Real Estate Management & Development — 0.7%
A-Living Smart City Services Co. Ltd.(a)(b)
      13,000 $  8,296
China Resources Land Ltd.
      40,000  169,068
CIFI Ever Sunshine Services Group Ltd.(d)
      26,000  7,093
Country Garden Services Holdings Co. Ltd.
      81,000  94,109
Daiwa House Industry Co. Ltd.
      26,700  741,613
FirstService Corp.
       3,446  521,108
Greentown China Holdings Ltd.
      47,000  55,816
Jones Lang LaSalle, Inc.(a)(c)
       2,542  439,258
Mitsubishi Estate Co. Ltd.
      70,300  895,412
Mitsui Fudosan Co. Ltd.
     246,700  5,401,033
New World Development Co. Ltd.
       9,000  19,111
Nomura Real Estate Holdings, Inc.
      37,500  943,630
Sun Hung Kai Properties Ltd.
       5,000  56,283
Tokyo Tatemono Co. Ltd.
      18,100  237,625
Zillow Group, Inc., Class C, NVS(a)
      23,645  1,233,323
      10,822,778
Retail REITs — 0.0%
Brixmor Property Group, Inc.
      25,526  561,061
Klepierre SA
       7,028  185,635
      746,696
Semiconductors & Semiconductor Equipment — 3.3%
Applied Materials, Inc.
      55,530  8,482,763
ASE Technology Holding Co. Ltd.
     145,000  536,684
ASPEED Technology, Inc.
  3,000  253,072
Broadcom, Inc.
  65  59,988
Elan Microelectronics Corp.
  20,000  75,276
First Solar, Inc.(a)
  1,199  226,755
Formosa Sumco Technology Corp.
  31,000  139,742
Global Unichip Corp.
  28,000  1,274,362
Globalwafers Co. Ltd.
  6,000  86,167
Infineon Technologies AG, Class N
  13,732  490,722
Intel Corp.
  100,758  3,540,636
JA Solar Technology Co. Ltd., Class A
  133,840  511,659
King Yuan Electronics Co. Ltd.
  59,000  141,856
KLA Corp.
  1,363  684,049
Koh Young Technology, Inc.
  1,933  18,979
Lam Research Corp.
  383  269,019
LONGi Green Energy Technology Co. Ltd., Class A
  206,798  755,816
M31 Technology Corp.
  6,600  191,557
MediaTek, Inc.
  24,000  529,283
Microchip Technology, Inc.
  2,763  226,124
NVIDIA Corp.
  48,823  24,096,592
NXP Semiconductors NV
  153  31,475
Parade Technologies Ltd.
  2,000  56,151
Realtek Semiconductor Corp.
  20,000  261,367
RichWave Technology Corp.(a)
  7,000  34,058
Silergy Corp.
  4,000  35,760
Sino-American Silicon Products, Inc.
  45,000  220,483
Taiwan Semiconductor Manufacturing Co. Ltd.
  341,000  5,859,389
Tongwei Co. Ltd., Class A
  4,000  17,628
United Microelectronics Corp.
  375,000  535,406
WONIK IPS Co. Ltd.
  2,303  53,639
XinTec, Inc.
  7,000  24,942
Xinyi Solar Holdings Ltd.
  36,000  30,038
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A
  7,400  57,286
      49,808,723
Software — 4.4%
Adobe, Inc.(a)
  19,564  10,942,928
Box, Inc., Class A(a)(c)
  9,103  241,047
Cadence Design Systems, Inc.(a)
  8,766  2,107,697
Security   Shares Value
Software (continued)
Dropbox, Inc., Class A(a)
      41,018 $  1,139,890
Fair Isaac Corp.(a)
          31  28,042
InterDigital, Inc.
           2  173
Intuit, Inc.
       1,397  756,909
Kingdee International Software Group Co. Ltd.(a)
      66,000  101,977
Manhattan Associates, Inc.(a)
      24,288  4,921,235
Microsoft Corp.
     118,070  38,698,623
Salesforce, Inc.(a)
         312  69,096
SAP SE
      54,339  7,580,531
Splunk, Inc.(a)
       6,852  830,874
Teradata Corp.(a)
       5,167  239,077
      67,658,099
Specialized REITs — 0.1%
VICI Properties, Inc.
      25,297  780,159
Weyerhaeuser Co.
      27,940  915,035
      1,695,194
Specialty Retail — 0.8%
Best Buy Co., Inc.
      60,794  4,647,701
Gap, Inc.
      15,703  181,841
Home Depot, Inc.
      14,215  4,695,214
Industria de Diseno Textil SA
      11,840  453,606
Lojas Renner SA
       3,673  11,942
TJX Cos., Inc.
      12,099  1,118,916
Topsports International Holdings Ltd.(b)
  66,000  53,749
Via S/A(a)
  182,387  47,143
ZOZO, Inc.
  50,100  1,000,548
      12,210,660
Technology Hardware, Storage & Peripherals — 4.0%
Advantech Co. Ltd.
  5,499  59,177
Apple Inc.
  251,052  47,165,139
Chicony Electronics Co. Ltd.
  33,000  107,003
Dell Technologies, Inc., Class C
  32,315  1,817,395
Hewlett Packard Enterprise Co.
  153,711  2,611,550
HP, Inc.
  173,252  5,147,317
Lenovo Group Ltd.
  232,000  262,236
Lite-On Technology Corp.
  25,000  106,876
Samsung Electronics Co. Ltd.
  65,905  3,333,228
Wiwynn Corp.
  4,000  194,938
      60,804,859
Textiles, Apparel & Luxury Goods — 1.0%
ANTA Sports Products Ltd.
  41,800  471,220
Bosideng International Holdings Ltd.
  50,000  19,621
Burberry Group PLC
  11,239  310,305
Hermes International SCA
  1,718  3,533,385
Lululemon Athletica, Inc.(a)
  16,608  6,331,966
LVMH Moet Hennessy Louis Vuitton SE
  1,754  1,483,283
Makalot Industrial Co. Ltd.
  22,000  230,781
Moncler SpA
  11,689  791,984
NIKE, Inc., Class B
  2,498  254,072
Tapestry, Inc.
  43,350  1,444,422
Youngone Corp.
  495  20,090
      14,891,129
Trading Companies & Distributors — 0.1%
Mitsubishi Corp.
  12,500  616,562
WW Grainger, Inc.
  2,186  1,561,110
      2,177,672
Transportation Infrastructure — 0.1%
CCR SA
  83,402  211,366
EcoRodovias Infraestrutura e Logistica SA
  96,088  144,946
Flughafen Zurich AG, Registered Shares
  3,158  649,895
 
6
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Transportation Infrastructure (continued)
Grupo Aeroportuario del Pacifico SAB de CV, Class B
       4,887 $  89,362
Santos Brasil Participacoes SA
      35,199  60,844
Taiwan High Speed Rail Corp.
      21,000  19,596
      1,176,009
Water Utilities — 0.1%
Cia de Saneamento de Minas Gerais-COPASA
      90,566  325,537
United Utilities Group PLC
      70,273  841,501
      1,167,038
Wireless Telecommunication Services — 0.1%
Far EasTone Telecommunications Co. Ltd.
      18,000  39,925
MTN Group Ltd.
      80,802  514,805
SK Telecom Co. Ltd.
       4,810  174,719
SoftBank Corp.
      40,300  462,189
SoftBank Group Corp.
      14,400  645,357
Vodafone Group PLC
     493,411  457,419
      2,294,414
Total Common Stocks — 57.0%

(Cost: $695,623,148)
872,130,988
    Par
(000) 		 
Corporate Bonds
Aerospace & Defense — 0.0%
Rolls-Royce PLC, 5.75%, 10/15/27(b)
USD          275    266,974
Spirit AeroSystems, Inc., 9.38%, 11/30/29(b)
         108  112,549
      379,523
Air Freight & Logistics — 0.0%
United Parcel Service, Inc., 4.45%, 04/01/30
         120  118,135
Automobile Components — 0.0%
Tenneco, Inc., 8.00%, 11/17/28(b)
         172  141,255
Automobiles — 0.2%
Honda Motor Co. Ltd., 2.53%, 03/10/27
       1,000  919,402
Toyota Motor Credit Corp.      
3.05%, 03/22/27
       1,000  938,484
1.90%, 04/06/28
         850  749,226
      2,607,112
Banks — 4.0%
Banco Santander SA      
2.75%, 05/28/25
         600  567,661
1.85%, 03/25/26
         400  361,251
4.18%, 03/24/28
       1,000  937,689
5.59%, 08/08/28
       1,800  1,783,876
3.23%, 11/22/32
         600  472,200
Bank of America Corp.      
1.73%, 07/22/27
       1,050  939,529
2.55%, 02/04/28
  1,150  1,040,069
4.38%, 04/27/28
  1,260  1,209,478
2.09%, 06/14/29
  1,200  1,023,845
3.19%, 07/23/30
  370  324,830
2.50%, 02/13/31
  1,400  1,164,191
5.02%, 07/22/33
  1,320  1,270,443
Series N, 1.66%, 03/11/27
  1,150  1,039,137
Bank of Montreal      
5.20%, 02/01/28
  1,180  1,170,088
3.80%, 12/15/32
  1,220  1,080,152
Bank of Nova Scotia, 4.85%, 02/01/30
  60  58,084
Barclays PLC      
2.85%, 05/07/26
  1,100  1,039,634
Security   Par
(000) 		Value
Banks (continued)
Barclays PLC      
2.28%, 11/24/27
USD        1,000 $  888,038
Citigroup, Inc.      
1.46%, 06/09/27
       1,075  957,244
2.67%, 01/29/31
       1,550  1,299,025
3.79%, 03/17/33
         500  434,714
6.17%, 05/25/34
          45  44,843
Series VAR, 3.07%, 02/24/28
       1,650  1,514,635
Fifth Third Bancorp, (Secured Overnight Financing Rate + 2.34%), 6.34%, 07/27/29
          90  91,103
HSBC Holdings PLC      
1.59%, 05/24/27
       1,800  1,599,311
2.25%, 11/22/27
       2,250  2,006,427
2.21%, 08/17/29
       1,400  1,172,861
2.80%, 05/24/32
       3,190  2,547,961
4.76%, 03/29/33
         450  399,914
(Secured Overnight Financing Rate + 2.98%), 6.55%, 06/20/34
         270  265,060
Huntington Bancshares, Inc., (Secured Overnight Financing Rate + 2.02%), 6.21%, 08/21/29
         210  211,379
ING Groep NV, 4.02%, 03/28/28
       1,710  1,608,907
JPMorgan Chase & Co.      
2.08%, 04/22/26
         352  331,086
2.95%, 10/01/26
       1,092  1,020,322
1.05%, 11/19/26
       1,150  1,036,866
1.47%, 09/22/27
         400  353,323
4.85%, 07/25/28
  1,835  1,798,214
5.72%, 09/14/33
  2,320  2,318,675
Lloyds Banking Group PLC      
2.44%, 02/05/26
  2,220  2,102,733
3.75%, 01/11/27
  1,000  940,154
Mitsubishi UFJ Financial Group, Inc.      
1.54%, 07/20/27
  1,450  1,292,659
2.34%, 01/19/28
  1,250  1,121,540
Mizuho Financial Group, Inc.      
2.65%, 05/22/26
  1,350  1,271,500
1.55%, 07/09/27
  1,850  1,642,481
2.17%, 05/22/32
  400  309,253
5.67%, 09/13/33
  760  752,965
Royal Bank of Canada, 5.20%, 08/01/28
  1,460  1,449,952
Santander Holdings U.S.A., Inc.      
6.50%, 03/09/29
  2,670  2,654,704
(Secured Overnight Financing Rate + 2.70%), 6.57%, 06/12/29
  890  886,096
Santander UK Group Holdings PLC, 1.53%, 08/21/26
  1,000  907,682
Sumitomo Mitsui Financial Group, Inc.      
5.52%, 01/13/28
  670  669,745
5.71%, 01/13/30
  700  703,829
5.85%, 07/13/30
  1,410  1,427,145
5.77%, 01/13/33
  1,810  1,835,910
5.78%, 07/13/33
  2,150  2,181,464
Synchrony Bank, 5.63%, 08/23/27
  880  832,377
Toronto-Dominion Bank, Series FXD, 1.95%, 01/12/27
  1,310  1,175,928
UniCredit SpA, 7.30%, 04/02/34(b)
  293  282,127
      61,822,309
Beverages — 1.1%
Coca-Cola Co, 2.50%, 03/15/51
  770  498,237
Coca-Cola Co.      
2.25%, 01/05/32
  1,050  881,214
3.00%, 03/05/51
  5,180  3,743,374
 
7
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Beverages (continued)
Diageo Capital PLC      
2.00%, 04/29/30
USD        1,820 $  1,518,504
2.13%, 04/29/32
         960  771,413
5.50%, 01/24/33
       3,930  4,080,232
PepsiCo, Inc.      
4.20%, 07/18/52
       2,450  2,174,147
4.65%, 02/15/53
       2,690  2,575,545
      16,242,666
Biotechnology — 0.7%
Amgen, Inc., 2.20%, 02/21/27
         650  590,780
Biogen, Inc.      
2.25%, 05/01/30
       2,810  2,313,270
3.25%, 02/15/51
       1,520  1,011,558
Regeneron Pharmaceuticals, Inc., 1.75%, 09/15/30
       8,620  6,860,195
      10,775,803
Broadline Retail — 0.0%
Macy’s Retail Holdings LLC, 5.88%, 04/01/29(b)
         307  277,522
Building Products — 0.2%
Builders FirstSource, Inc., 6.38%, 06/15/32(b)
         297  289,556
Johnson Controls International plc, 3.90%, 02/14/26
       3,000  2,891,587
Owens Corning, 3.40%, 08/15/26
         350  330,947
      3,512,090
Capital Markets — 2.0%
Ares Capital Corp.      
7.00%, 01/15/27
  380  380,711
2.88%, 06/15/27
  520  457,451
Bank of New York Mellon Corp, (Secured Overnight Financing Rate + 1.51%), 4.71%, 02/01/34
  630  593,212
Blackstone Private Credit Fund, 2.63%, 12/15/26
  130  111,822
Credit Suisse AG, 1.25%, 08/07/26
  430  376,702
FactSet Research Systems, Inc., 2.90%, 03/01/27
  3,000  2,765,327
FS KKR Capital Corp.      
2.63%, 01/15/27
  445  384,002
3.13%, 10/12/28
  470  383,883
Goldman Sachs Group, Inc.      
1.54%, 09/10/27
  4,070  3,594,037
2.64%, 02/24/28
  2,400  2,172,028
2.60%, 02/07/30
  1,220  1,029,531
2.38%, 07/21/32
  360  284,562
Series VAR, 1.09%, 12/09/26
  1,000  897,616
Morgan Stanley      
3.63%, 01/20/27
  900  850,368
1.51%, 07/20/27
  1,950  1,731,273
2.48%, 01/21/28
  950  857,012
5.16%, 04/20/29
  980  961,213
1.79%, 02/13/32
  2,060  1,584,149
4.89%, 07/20/33
  2,585  2,448,767
5.25%, 04/21/34
  565  548,795
2.48%, 09/16/36
  550  414,791
Nasdaq, Inc., 5.65%, 06/28/25
  180  180,159
Nomura Holdings, Inc., 1.85%, 07/16/25
  1,200  1,108,866
Renaissancere Holdings Ltd., 5.75%, 06/05/33
  1,100  1,068,575
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 4.00%, 10/15/33(b)
  149  117,808
S&P Global, Inc., 2.45%, 03/01/27
  1,000  922,035
Thomson Reuters Corp., 3.35%, 05/15/26
  3,740  3,551,706
United Wholesale Mortgage LLC, 5.50%, 04/15/29(b)
  90  78,075
      29,854,476
Security   Par
(000) 		Value
Chemicals — 0.0%
Chemours Co, 5.75%, 11/15/28(b)
USD          120 $  107,798
Tronox, Inc., 4.63%, 03/15/29(b)
          27  22,249
      130,047
Communications Equipment — 0.3%
Level 3 Financing, Inc., 10.50%, 05/15/30(b)
         130  132,053
Motorola Solutions, Inc.      
2.30%, 11/15/30
       1,400  1,115,647
2.75%, 05/24/31
       1,990  1,614,218
5.60%, 06/01/32
       1,250  1,233,822
      4,095,740
Construction & Engineering — 0.2%
Quanta Services, Inc., 2.90%, 10/01/30
       4,150  3,499,665
Consumer Finance — 0.2%
American Express Co.      
2.55%, 03/04/27
         700  636,508
(Secured Overnight Financing Rate + 1.28%), 5.28%, 07/27/29
       1,020  1,008,939
(Secured Overnight Financing Rate + 1.84%), 5.04%, 05/01/34
         450  432,391
(Secured Overnight Financing Rate + 1.93%), 5.63%, 07/28/34
         160  157,644
Discover Financial Services, 4.10%, 02/09/27
          10  9,277
OneMain Finance Corp., 9.00%, 01/15/29
          85  86,169
Synchrony Financial, 2.88%, 10/28/31
       1,620  1,204,297
      3,535,225
Diversified REITs — 0.4%
American Tower Corp., 1.45%, 09/15/26
  425  376,583
Digital Realty Trust LP, 5.55%, 01/15/28
  2,860  2,852,183
Equinix, Inc., 1.45%, 05/15/26
  1,000  898,754
Iron Mountain, Inc., 5.25%, 07/15/30(b)
  700  631,628
Welltower OP LLC, 4.00%, 06/01/25
  900  872,155
      5,631,303
Diversified Telecommunication Services — 0.0%
Koninklijke KPN NV, 8.38%, 10/01/30
  450  511,253
Electric Utilities — 0.5%
Avangrid, Inc.      
3.20%, 04/15/25
  2,180  2,086,224
3.80%, 06/01/29
  500  453,799
Eversource Energy      
2.90%, 03/01/27
  1,000  920,077
3.38%, 03/01/32
  750  642,096
Series U, 1.40%, 08/15/26
  200  177,708
Exelon Corp.      
2.75%, 03/15/27
  550  504,798
3.35%, 03/15/32
  350  300,720
NSTAR Electric Co.      
3.25%, 05/15/29
  1,000  916,161
3.95%, 04/01/30
  1,000  931,776
      6,933,359
Electronic Equipment, Instruments & Components — 0.4%
Allegion U.S. Holding Co., Inc., 3.55%, 10/01/27
  45  41,623
Keysight Technologies, Inc.      
4.60%, 04/06/27
  1,250  1,222,353
3.00%, 10/30/29
  3,070  2,688,099
Teledyne Technologies, Inc.      
1.60%, 04/01/26
  1,000  911,182
2.25%, 04/01/28
  1,000  871,845
2.75%, 04/01/31
  1,000  834,506
      6,569,608
 
8
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Energy Equipment & Services — 0.1%
Brand Industrial Services, Inc., 10.38%, 08/01/30(b)
USD           65 $  67,033
CGG SA, 8.75%, 04/01/27(b)
         600  516,356
Johnson Controls International plc/Tyco Fire & Security Finance SCA      
1.75%, 09/15/30
         400  320,411
2.00%, 09/16/31
         360  283,757
Valaris Ltd., 8.38%, 04/30/30(b)
          30  30,557
      1,218,114
Financial Services — 0.0%
Nasdaq, Inc., 5.55%, 02/15/34
         425  424,259
RELX Capital, Inc., 3.00%, 05/22/30
         185  162,512
      586,771
Food Products — 0.3%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 6.50%, 02/15/28(b)
         240  238,891
Kellogg Co.      
3.40%, 11/15/27
         670  622,760
4.30%, 05/15/28
       3,000  2,886,326
2.10%, 06/01/30
         240  196,630
Lamb Weston Holdings, Inc., 4.38%, 01/31/32(b)
         332  288,151
U.S. Foods, Inc., 4.75%, 02/15/29(b)
         261  238,220
      4,470,978
Gas Utilities — 0.1%
AmeriGas Partners LP/AmeriGas Finance Corp.      
5.75%, 05/20/27
         627  579,794
9.38%, 06/01/28(b)
  95  97,378
ONE Gas, Inc., 4.25%, 09/01/32
  155  144,551
      821,723
Ground Transportation — 0.1%
Canadian National Railway Co., 3.85%, 08/05/32
  575  530,912
Ryder System, Inc., 5.65%, 03/01/28
  85  85,196
Triton Container International Ltd./TAL International Container Corp., 3.25%, 03/15/32
  1,100  852,368
VT Topco, Inc., 8.50%, 08/15/30(b)
  80  81,200
      1,549,676
Health Care Equipment & Supplies — 0.0%
Abbott Laboratories, 4.90%, 11/30/46
  170  165,725
Health Care Providers & Services — 1.5%
180 Medical, Inc., 3.88%, 10/15/29(b)
  150  130,440
AMN Healthcare, Inc., 4.00%, 04/15/29(b)
  133  113,753
DaVita, Inc., 4.63%, 06/01/30(b)
  350  300,214
DH Europe Finance II Sarl, 2.60%, 11/15/29
  4,860  4,284,315
Elevance Health, Inc., 3.65%, 12/01/27
  1,500  1,413,859
Encompass Health Corp., 4.75%, 02/01/30
  249  226,800
HCA, Inc.      
5.25%, 06/15/26
  850  839,670
3.13%, 03/15/27
  440  404,374
5.20%, 06/01/28
  590  581,381
3.63%, 03/15/32
  1,239  1,065,629
5.50%, 06/01/33
  666  654,279
4.63%, 03/15/52
  580  465,387
5.90%, 06/01/53
  820  786,410
Humana, Inc.      
1.35%, 02/03/27
  1,200  1,055,482
3.70%, 03/23/29
  1,500  1,388,768
Laboratory Corp. of America Holdings, 1.55%, 06/01/26
  2,000  1,799,560
LifePoint Health, Inc., 9.88%, 08/15/30(b)
  100  98,750
Tenet Healthcare Corp., 6.13%, 10/01/28
  316  304,349
Security   Par
(000) 		Value
Health Care Providers & Services (continued)
UnitedHealth Group, Inc.      
5.30%, 02/15/30
USD          560 $  571,377
4.20%, 05/15/32
       5,000  4,723,524
4.50%, 04/15/33
         640  616,463
5.88%, 02/15/53
         200  213,901
5.05%, 04/15/53
       1,540  1,469,989
      23,508,674
Hotels, Restaurants & Leisure — 0.3%
Caesars Entertainment, Inc.      
8.13%, 07/01/27(b)
         107  108,641
7.00%, 02/15/30(b)
         224  224,857
Darden Restaurants, Inc., 4.55%, 02/15/48
         570  463,795
Hilton Domestic Operating Co., Inc., 4.88%, 01/15/30
         314  292,934
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc, 5.00%, 06/01/29(b)
         324  287,245
Sands China Ltd.      
5.65%, 08/08/28
         760  716,266
4.88%, 06/18/30
         680  592,212
Starbucks Corp., 2.00%, 03/12/27
         850  766,649
Yum! Brands, Inc., 5.38%, 04/01/32
         315  295,628
      3,748,227
Household Durables — 0.4%
Lennar Corp., 4.75%, 11/29/27
       1,470  1,425,346
NVR, Inc., 3.00%, 05/15/30
       2,520  2,156,547
PulteGroup, Inc., 5.00%, 01/15/27
  1,630  1,605,932
Toll Brothers Finance Corp., 3.80%, 11/01/29
  1,100  980,039
TopBuild Corp., 4.13%, 02/15/32(b)
  112  93,240
      6,261,104
Household Products — 0.1%
Colgate-Palmolive Co., 3.25%, 08/15/32
  50  45,226
Unilever Capital Corp., 1.75%, 08/12/31
  2,140  1,711,962
      1,757,188
Industrial Conglomerates — 0.1%
Trane Technologies Luxembourg Finance SA, 3.80%, 03/21/29
  1,980  1,847,773
Insurance — 0.5%
Alleghany Corp., 3.63%, 05/15/30
  120  110,722
Arthur J Gallagher & Co., 3.50%, 05/20/51
  1,170  808,553
Manulife Financial Corp., 4.15%, 03/04/26
  1,220  1,185,109
Marsh & McLennan Cos., Inc.      
4.38%, 03/15/29
  1,820  1,762,055
2.25%, 11/15/30
  2,000  1,653,192
2.38%, 12/15/31
  790  642,256
5.45%, 03/15/53
  800  789,660
      6,951,547
IT Services — 0.9%
Automatic Data Processing, Inc., 1.70%, 05/15/28
  5,380  4,706,606
CGI, Inc., 2.30%, 09/14/31
  2,370  1,842,009
Cogent Communications Group, Inc., 7.00%, 06/15/27(b)
  900  873,630
Fiserv, Inc.      
5.45%, 03/02/28
  470  472,762
5.60%, 03/02/33
  970  975,846
Gartner, Inc., 4.50%, 07/01/28(b)
  632  589,363
Gen Digital, Inc., 7.13%, 09/30/30(b)
  401  403,697
International Business Machines Corp.      
2.20%, 02/09/27
  750  681,542
2.72%, 02/09/32
  620  526,508
 
9
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
IT Services (continued)
Mastercard, Inc., 2.00%, 11/18/31
USD        1,450 $  1,176,892
Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 01/15/28(b)
         137  130,479
VeriSign, Inc., 2.70%, 06/15/31
         620  507,600
Visa, Inc., 3.65%, 09/15/47
         630  513,618
      13,400,552
Machinery — 0.3%
Allison Transmission, Inc., 5.88%, 06/01/29(b)
         618  596,880
Chart Industries, Inc., 9.50%, 01/01/31(b)
         102  109,825
Cummins, Inc., 1.50%, 09/01/30
       1,470  1,180,069
Ingersoll Rand, Inc.      
5.40%, 08/14/28
         255  255,575
5.70%, 08/14/33
          95  96,331
nVent Finance Sarl, 5.65%, 05/15/33
       1,470  1,422,719
Wabash National Corp., 4.50%, 10/15/28(b)
         306  259,625
      3,921,024
Media — 0.1%
Clear Channel Outdoor Holdings, Inc., 9.00%, 09/15/28(b)
          80  80,400
DirecTV Holdings LLC/DirecTV Financing Co., Inc., 5.88%, 08/15/27(b)
         334  295,997
Interpublic Group of Cos., Inc., 4.65%, 10/01/28
         500  478,275
Nexstar Broadcasting, Inc., 4.75%, 11/01/28(b)
         115  100,879
Sirius XM Radio, Inc., 5.50%, 07/01/29(b)
         330  297,084
Univision Communications, Inc., 8.00%, 08/15/28(b)
          25  24,986
      1,277,621
Metals & Mining — 0.3%
Arsenal AIC Parent LLC, 8.00%, 10/01/30(b)
  65  66,381
ATI, Inc., 7.25%, 08/15/30
  115  116,006
FMG Resources August 2006 Pty Ltd.      
5.88%, 04/15/30(b)
  304  282,096
6.13%, 04/15/32(b)
  300  279,230
Mineral Resources Ltd., 8.50%, 05/01/30(b)
  850  853,040
Nufarm Australia Ltd./Nufarm Americas, Inc., 5.00%, 01/27/30(b)
  652  579,951
Reliance Steel & Aluminum Co., 2.15%, 08/15/30
  1,680  1,357,857
Steel Dynamics, Inc., 2.40%, 06/15/25
  750  705,839
Taseko Mines Ltd., 7.00%, 02/15/26(b)
  25  23,056
      4,263,456
Oil, Gas & Consumable Fuels — 0.3%
Cheniere Corpus Christi Holdings LLC, 3.70%, 11/15/29
  60  54,546
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 6.00%, 02/01/29(b)
  186  182,600
EQT Corp., 5.70%, 04/01/28
  600  597,338
ONEOK, Inc.      
2.20%, 09/15/25
  370  344,292
5.85%, 01/15/26
  1,000  1,005,333
6.35%, 01/15/31
  1,340  1,377,327
Venture Global LNG, Inc.      
8.13%, 06/01/28(b)
  55  55,481
8.38%, 06/01/31(b)
  50  50,435
Vermilion Energy, Inc., 6.88%, 05/01/30(b)
  629  595,518
      4,262,870
Paper & Forest Products — 0.0%
Louisiana-Pacific Corp., 3.63%, 03/15/29(b)
  725  623,859
Pharmaceuticals — 0.9%
Astrazeneca Finance LLC      
1.75%, 05/28/28
  800  694,251
2.25%, 05/28/31
  990  823,651
Security   Par
(000) 		Value
Pharmaceuticals (continued)
Astrazeneca Finance LLC      
4.88%, 03/03/33
USD        1,490 $  1,490,443
Bausch Health Cos., Inc., 11.00%, 09/30/28(b)
         150  107,091
Bristol-Myers Squibb Co., 2.95%, 03/15/32
         710  615,400
Eli Lilly & Co.      
4.88%, 02/27/53
         645  634,360
4.95%, 02/27/63
       2,205  2,153,929
Jazz Securities DAC, 4.38%, 01/15/29(b)
         700  627,157
Johnson & Johnson, 2.25%, 09/01/50
       1,310  825,546
Merck & Co., Inc.      
2.15%, 12/10/31
       1,550  1,266,894
5.00%, 05/17/53
         340  332,084
Novartis Capital Corp., 2.20%, 08/14/30
       3,030  2,581,711
Pfizer Investment Enterprises Pte Ltd.      
5.30%, 05/19/53
          95  95,035
5.34%, 05/19/63
          50  49,266
Zoetis, Inc.      
3.00%, 09/12/27
         640  595,585
2.00%, 05/15/30
         170  139,943
      13,032,346
Professional Services — 0.0%
TriNet Group, Inc., 7.13%, 08/15/31(b)
          95  95,534
Real Estate Management & Development — 0.1%
CBRE Services, Inc., 4.88%, 03/01/26
  500  489,126
Cushman & Wakefield U.S. Borrower LLC, 8.88%, 09/01/31(b)
  45  45,369
Essential Properties LP, 2.95%, 07/15/31
  610  457,150
Greystar Real Estate Partners LLC, 7.75%, 09/01/30(b)
  45  45,452
Howard Hughes Corp., 5.38%, 08/01/28(b)
  320  288,110
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 10.50%, 02/15/28(b)
  141  140,666
      1,465,873
Semiconductors & Semiconductor Equipment — 0.8%
Broadcom, Inc.      
2.45%, 02/15/31(b)
  1,990  1,604,325
2.60%, 02/15/33(b)
  450  347,909
3.75%, 02/15/51(b)
  1,450  1,039,869
NVIDIA Corp.      
1.55%, 06/15/28
  600  521,023
2.00%, 06/15/31
  4,490  3,719,742
3.70%, 04/01/60
  500  396,868
NXP BV/NXP Funding LLC, 5.55%, 12/01/28
  850  848,447
Texas Instruments, Inc.      
1.90%, 09/15/31
  459  374,331
3.65%, 08/16/32
  3,545  3,234,359
4.90%, 03/14/33
  790  793,772
      12,880,645
Software — 1.0%
Adobe, Inc., 2.30%, 02/01/30
  3,570  3,098,859
Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc., 8.00%, 06/15/29(b)
  25  25,162
Electronic Arts, Inc., 1.85%, 02/15/31
  1,000  800,273
Intuit, Inc.      
1.35%, 07/15/27
  1,000  877,705
1.65%, 07/15/30
  4,690  3,785,907
Open Text Holdings, Inc., 4.13%, 02/15/30(b)
  353  304,193
Oracle Corp.      
4.50%, 05/06/28
  205  198,878
4.65%, 05/06/30
  135  129,674
4.90%, 02/06/33
  750  716,432
 
10
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Software (continued)
Oracle Corp.      
5.55%, 02/06/53
USD          410 $  381,130
ServiceNow, Inc., 1.40%, 09/01/30
       3,000  2,359,548
VMware, Inc.      
1.80%, 08/15/28
       2,730  2,288,118
2.20%, 08/15/31
         530  413,151
      15,379,030
Specialty Retail — 0.3%
Bath & Body Works, Inc., 6.95%, 03/01/33
         135  126,175
Home Depot, Inc.      
1.50%, 09/15/28
       1,050  896,802
1.88%, 09/15/31
       1,420  1,142,125
3.35%, 04/15/50
         940  688,127
Lowe’s Cos., Inc.      
3.35%, 04/01/27
       1,500  1,411,625
1.70%, 09/15/28
       1,150  978,862
      5,243,716
Technology Hardware, Storage & Peripherals — 0.1%
Apple Inc.      
3.95%, 08/08/52
         640  542,229
4.10%, 08/08/62
         140  117,147
CDW LLC/CDW Finance Corp., 3.57%, 12/01/31
         226  191,099
Xerox Holdings Corp., 5.50%, 08/15/28(b)
         344  299,267
      1,149,742
Trading Companies & Distributors — 0.0%
GATX Corp., 3.50%, 06/01/32
  350  294,379
Wireless Telecommunication Services — 0.0%
Rogers Communications, Inc., 3.20%, 03/15/27
  350  323,547
Total Corporate Bonds — 18.8%

(Cost: $300,497,157)
287,138,785
    Shares/
Investment
Value 		 
Investment Companies(e)
Equity Funds — 2.3%
iShares MSCI India ETF
      99,126    4,358,570
iShares Russell 1000 Value ETF
     192,434  30,593,157
      34,951,727
Total Investment Companies — 2.3%

(Cost: $34,890,082)
34,951,727
    Shares  
Preferred Securities
Preferred Stocks — 0.3%
Banks — 0.0%
Banco Bradesco SA
         100    301
Bancolombia SA
      24,294  161,545
      161,846
Chemicals — 0.1%
Braskem SA(a)
     186,029  842,607
Sociedad Quimica y Minera de Chile SA, Class B
      15,331  949,460
      1,792,067
Electric Utilities — 0.1%
Centrais Eletricas Brasileiras SA, Class B
      27,729  218,492
Security   Shares Value
Electric Utilities (continued)
Cia Energetica de Minas Gerais
     115,268 $  287,003
Cia Paranaense de Energia, Class B
     422,882  742,940
      1,248,435
Machinery — 0.0%
Randon SA Implementos e Participacoes
      14,162  34,146
Metals & Mining — 0.0%
Gerdau SA
      45,529  237,848
Passenger Airlines — 0.1%
Azul SA(a)
     180,462  526,949
Gol Linhas Aereas Inteligentes SA(a)
     187,762  266,550
      793,499
Total Preferred Securities — 0.3%

(Cost: $4,573,300)
4,267,841
Rights
Passenger Airlines — 0.0%
Gol Linhas Aereas Inteligentes SA Expires 10/06/23, Strike Price BRL 5.84(a)
     379,217  766
Total Rights — 0.0%

(Cost: $21,797)
766
    Par
(000) 		 
U.S. Government Sponsored Agency Securities
Mortgage-Backed Securities — 8.2%
Fannie Mae Mortgage-Backed Securities      
1.50%, 02/01/37 - 04/01/52
USD        2,297    1,776,042
2.00%, 04/01/37 - 01/01/52
      32,636  26,429,364
2.50%, 06/01/37 - 07/01/51
       7,389  6,184,397
3.00%, 09/01/34 - 04/01/52
       2,123  1,892,324
4.00%, 03/01/51 - 08/01/52
       1,119  1,041,467
4.50%, 09/01/52
         187  178,355
5.00%, 04/01/53 - 05/01/53
         416  403,480
5.50%, 02/01/53
         483  481,736
6.00%, 08/01/53
          74  74,851
Freddie Mac Mortgage-Backed Securities      
1.50%, 03/01/37
         174  148,582
2.00%, 04/01/37
         897  785,709
2.50%, 05/01/37 - 07/01/51
       4,331  3,627,555
3.00%, 07/01/50
          37  32,259
4.00%, 06/01/52 - 02/01/53
         906  839,071
5.00%, 04/01/53
         290  280,872
5.50%, 01/01/53 - 06/01/53
         344  340,993
6.00%, 08/01/53
         166  168,504
Ginnie Mae Mortgage-Backed Securities      
1.50%, 09/01/53(f)
         100  79,527
2.00%, 10/20/51 - 09/01/53(f)
       5,599  4,621,316
2.50%, 07/20/51 - 09/01/53(f)
  14,510  12,348,092
3.00%, 11/20/46 - 09/01/53(f)
  15,096  13,279,349
3.50%, 03/20/50 - 09/01/53(f)
  10,879  9,897,364
4.00%, 01/20/50 - 09/01/53(f)
  5,964  5,561,983
4.50%, 03/20/49 - 09/01/53(f)
  5,389  5,137,851
5.00%, 09/01/53(f)
  1,700  1,654,213
5.50%, 12/20/52 - 09/01/53(f)
  1,852  1,833,144
Uniform Mortgage-Backed Securities      
1.50%, 09/01/38 - 09/01/53(f)
  2,189  1,738,230
2.00%, 09/01/38(f)
  661  579,261
2.50%, 09/01/38 - 09/01/53(f)
  2,625  2,342,827
3.00%, 09/01/38 - 09/01/53(f)
  3,000  2,734,477
 
11
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Mortgage-Backed Securities (continued)
Uniform Mortgage-Backed Securities      
3.50%, 09/01/38 - 09/01/53(f)
USD        1,725 $  1,576,145
4.00%, 09/01/38 - 09/01/53(f)
       1,100  1,022,688
4.50%, 09/01/53(f)
         200  189,625
5.00%, 09/01/53(f)
      11,725  11,368,899
5.50%, 09/01/53(f)
       2,575  2,542,410
6.00%, 09/01/53(f)
       1,775  1,779,646
  124,972,608
Total U.S. Government Sponsored Agency Securities — 8.2%

(Cost: $132,660,265)
124,972,608
U.S. Treasury Obligations
U.S. Treasury Bonds      
1.13%, 05/15/40
      23,000  14,244,726
2.25%, 05/15/41 - 02/15/52
      46,000  32,027,656
2.38%, 02/15/42
      10,000  7,439,453
3.00%, 02/15/47
       5,000  3,974,805
3.38%, 11/15/48
       2,600  2,209,594
U.S. Treasury Inflation Indexed Notes, 1.25%, 04/15/28
       9,155  8,812,568
U.S. Treasury Notes      
2.50%, 03/31/27
      35,000  32,796,094
1.88%, 02/28/29 - 02/15/32
      33,000  28,436,758
2.38%, 05/15/29
      16,000  14,492,500
0.63%, 08/15/30
       5,000  3,939,648
Total U.S. Treasury Obligations — 9.7%

(Cost: $175,541,658)
148,373,802
Total Long-Term Investments — 96.3%

(Cost: $1,343,807,407)
1,471,836,517
     
 
Shares 		 
Short-Term Securities
Money Market Funds — 2.7%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 5.23%(e)(g)
  40,628,430    40,628,430
SL Liquidity Series, LLC, Money Market Series, 5.49%(e)(g)(h)
     300,749  300,840
  40,929,270
    Par
(000) 		 
U.S. Treasury Obligations(i) — 3.1%
U.S. Treasury Bills      
4.88%, 10/26/23
USD       10,350    10,266,273
Security   Par
(000) 		Value
U.S. Treasury Obligations(i) (continued)
U.S. Treasury Bills      
5.02%, 11/09/23
USD        7,000 $  6,929,076
5.42%, 12/28/23
       8,500  8,352,684
5.42%, 01/04/24
      11,200  10,994,375
5.40%, 01/11/24
       4,600  4,510,818
5.39%, 01/18/24
       3,800  3,722,567
5.35%, 01/25/24
       2,300  2,250,714
5.41%, 02/08/24
         700  683,566
5.46%, 02/15/24
         500  487,736
5.48%, 02/22/24
         100  97,444
  48,295,253
Total Short-Term Securities — 5.8%

(Cost: $89,241,757)
89,224,523
Total Investments Before TBA Sale Commitments — 102.1%

(Cost: $1,433,049,164)
1,561,061,040
TBA Sale Commitments(f)
Mortgage-Backed Securities — (0.2)%
Ginnie Mae Mortgage-Backed Securities      
3.00%, 09/01/53
      (1,225)   (1,076,995)
5.50%, 09/01/53
        (350)   (346,445)
Uniform Mortgage-Backed Securities      
5.00%, 09/01/53
      (1,300)   (1,260,518)
6.00%, 09/01/53
        (175)  (175,458)
Total TBA Sale Commitments — (0.2)%

(Proceeds: $(2,832,793))
(2,859,416)
Total Investments Net of TBA Sale Commitments — 101.9%

(Cost: $1,430,216,371)
1,558,201,624
Liabilities in Excess of Other Assets — (1.9)%
(29,715,780)
Net Assets — 100.0%
$  1,528,485,844
(a) Non-income producing security.
(b) 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.
(c) All or a portion of this security is on loan.
(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(e) Affiliate of the Fund.
(f) Represents or includes a TBA transaction.
(g) Annualized 7-day yield as of period end.
(h) All or a portion of this security was purchased with the cash collateral from loaned securities.
(i) Rates are discount rates or a range of discount rates as of period end.
 
12
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended August 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Value at
05/31/23 		Purchases
at Cost 		Proceeds
from Sale 		Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Value at
08/31/23 		Shares/
Investment
Value
Held at
08/31/23 		Income
(Expense) 		  Capital
Gain
Distributions
from Underlying
Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class
$  23,714,417 $  16,914,013(a) $  — $  —   $  —   $  40,628,430 40,628,430 $  522,437   $  —
iShares MSCI India ETF
 4,331,004  —  (207,182)  (10,372)    245,120    4,358,570 99,126  8,316    —
iShares Russell 1000 Value ETF
 28,599,541  —  —  —    1,993,616    30,593,157 192,434  —    —
SL Liquidity Series, LLC, Money Market Series
 —  300,827(a)  —  13    —    300,840 300,749  946(b)    —
        $  (10,359)   $  2,238,736   $  75,880,997   $  531,699   $  —
(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.
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        
U.S. Treasury Notes (2 Year)
293 12/29/23 $  59,715 $  115,827
Short Contracts        
S&P/Toronto Stock Exchange 60 Index
6 09/14/23  1,080  (15,139)
Mini MSCI EAFE Index
163 09/15/23  17,191  24,758
Mini MSCI Emerging Markets Index
198 09/15/23  9,695  310,872
S&P 500 E-Mini Index
208 09/15/23  46,966  (941,589)
U.S. Treasury Long-Term Bonds
180 12/19/23  21,904  (304,963)
U.S. Treasury Notes (10 Year)
183 12/19/23  20,319  (122,548)
U.S. Ultra Treasury Bonds
53 12/19/23  6,862  (107,339)
U.S. Ultra Treasury Bonds (10 Year)
202 12/19/23  23,454  (241,986)
U.S. Treasury Notes (5 Year)
617 12/29/23  65,971  (449,660)
         (1,847,594)
        $  (1,731,767)
13
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
Forward Foreign Currency Exchange Contracts
Currency Purchased Currency Sold Counterparty Settlement
Date 		Unrealized
Appreciation
(Depreciation)
EUR 26,551,912 USD 28,749,454 Goldman Sachs International 09/20/23 $  69,836
USD 703,741 JPY 96,699,400 Bank of America N.A. 09/20/23  36,988
            $106,824
AUD 23,149,066 USD 15,483,808 Barclays Bank PLC 09/20/23  (473,279)
CAD 20,503,680 USD 15,317,428 Goldman Sachs International 09/20/23  (138,348)
USD 453,895 EUR 419,200 Goldman Sachs International 09/20/23  (1,102)
USD 444,619 GBP 353,700 Bank of America N.A. 09/20/23  (3,490)
            $(616,219)
  $  (509,395)
             
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.IG.40.V1
1.00% Quarterly 06/20/28 USD 75,000 $  (1,313,927)   $  (645,280)   $  (668,647)
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 minus 0.02%, 5.31% Quarterly MSCI ACWI ESG Universal Index Quarterly BNP Paribas S.A. 04/03/24 USD 109 $  (335,975)   $  —   $  (335,975)
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”) as a practical expedient as no quoted market value is available and therefore have been excluded from the fair value hierarchy.
14
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
Fair Value Hierarchy as of Period End (continued)
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
$  61,082 $  2,870,118 $  — $  2,931,200
Air Freight & Logistics
 192,894  1,125,680  —  1,318,574
Automobile Components
 634,249  339,070  —  973,319
Automobiles
 18,037,045  14,288,868  —  32,325,913
Banks
 15,812,902  37,487,996  —  53,300,898
Beverages
 18,171,973  5,005,775  —  23,177,748
Biotechnology
 10,950,702  2,240,474  —  13,191,176
Broadline Retail
 33,265,419  3,939,680  —  37,205,099
Building Products
 1,818,654  165,164  —  1,983,818
Capital Markets
 17,811,275  5,250,205  —  23,061,480
Chemicals
 2,481,169  6,340,474  —  8,821,643
Commercial Services & Supplies
 1,647,412  —  —  1,647,412
Communications Equipment
 2,190,034  977,916  —  3,167,950
Construction & Engineering
 11,485,411  800,140  —  12,285,551
Construction Materials
 —  24,119  —  24,119
Consumer Finance
 6,530,344  —  —  6,530,344
Consumer Staples Distribution & Retail
 14,369,192  6,488,662  —  20,857,854
Containers & Packaging
 398,210  —  —  398,210
Diversified Consumer Services
 768,141  88,432  —  856,573
Diversified Telecommunication Services
 —  3,143,276  —  3,143,276
Electric Utilities
 896,916  6,383,260  —  7,280,176
Electrical Equipment
 996,938  12,110,485  —  13,107,423
Electronic Equipment, Instruments & Components
 2,652,537  3,115,062  —  5,767,599
Energy Equipment & Services
 258,357  138,602  —  396,959
Entertainment
 4,479,986  3,269,250  —  7,749,236
Financial Services
 23,526,909  692,098  —  24,219,007
Food Products
 6,321,795  11,403,570  —  17,725,365
Gas Utilities
 —  135,876  —  135,876
Ground Transportation
 4,358,448  —  —  4,358,448
Health Care Equipment & Supplies
 19,685,887  81,703  —  19,767,590
Health Care Providers & Services
 18,774,886  277,301  —  19,052,187
Health Care Technology
 372,269  —  —  372,269
Hotel & Resort REITs
 170  —  —  170
Hotels, Restaurants & Leisure
 8,002,262  6,472,466  —  14,474,728
Household Durables
 873,369  1,337,190  —  2,210,559
Household Products
 2,542,135  —  —  2,542,135
Independent Power and Renewable Electricity Producers
 421,619  42,157  —  463,776
Industrial Conglomerates
 17,335,274  5,372,681  —  22,707,955
Industrial REITs
 —  1,152,578  —  1,152,578
Insurance
 17,867,171  9,156,553  —  27,023,724
Interactive Media & Services
 34,068,528  8,733,821  —  42,802,349
IT Services
 13,644,538  104,959  —  13,749,497
Leisure Products
 —  860,138  —  860,138
Life Sciences Tools & Services
 7,803,140  253,241  —  8,056,381
Machinery
 10,493,989  3,664,720  —  14,158,709
Marine Transportation
 —  1,394,973  —  1,394,973
Media
 2,361,260  17,149  —  2,378,409
Metals & Mining
 5,530,870  10,785,344  —  16,316,214
Multi-Utilities
 953,868  5,005,933  —  5,959,801
Oil, Gas & Consumable Fuels
 34,071,903  3,239,449  —  37,311,352
Paper & Forest Products
 35,560  —  —  35,560
Passenger Airlines
 160,737  2,283,659  —  2,444,396
Personal Care Products
 554,682  2,420,267  —  2,974,949
Pharmaceuticals
 18,632,794  26,683,340  —  45,316,134
Professional Services
 5,526,472  9,682,466  —  15,208,938
Real Estate Management & Development
 2,193,689  8,621,996  7,093  10,822,778
15
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
Fair Value Hierarchy as of Period End (continued)
  Level 1   Level 2   Level 3   Total
Common Stocks (continued)              
Retail REITs
$  561,061   $  185,635   $  —   $  746,696
Semiconductors & Semiconductor Equipment
 37,617,401    12,191,322    —    49,808,723
Software
 59,975,591    7,682,508    —    67,658,099
Specialized REITs
 1,695,194    —    —    1,695,194
Specialty Retail
 10,702,757    1,507,903    —    12,210,660
Technology Hardware, Storage & Peripherals
 56,741,401    4,063,458    —    60,804,859
Textiles, Apparel & Luxury Goods
 8,030,460    6,860,669    —    14,891,129
Trading Companies & Distributors
 1,561,110    616,562    —    2,177,672
Transportation Infrastructure
 506,518    669,491    —    1,176,009
Water Utilities
 325,537    841,501    —    1,167,038
Wireless Telecommunication Services
 514,805    1,779,609    —    2,294,414
Corporate Bonds 
 —    287,138,785    —    287,138,785
Investment Companies 
 34,951,727    —    —    34,951,727
Preferred Securities 
 4,267,841    —    —    4,267,841
Rights 
 766    —    —    766
U.S. Government Sponsored Agency Securities
 —    124,972,608    —    124,972,608
U.S. Treasury Obligations
 —    148,373,802    —    148,373,802
Short-Term Securities              
Money Market Funds
 40,628,430    —    —    40,628,430
U.S. Treasury Obligations
 —    48,295,253    —    48,295,253
Liabilities              
TBA Sale Commitments
 —    (2,859,416)    —    (2,859,416)
  $  680,105,665   $  877,788,026   $  7,093   1,557,900,784
Investments valued at NAV(a)
            300,840
              $  1,558,201,624
Derivative Financial Instruments(b)              
Assets              
Equity Contracts
$  335,630   $  —   $  —   $  335,630
Foreign Currency Exchange Contracts
 —    106,824    —    106,824
Interest Rate Contracts
 115,827    —    —    115,827
Liabilities              
Credit Contracts
 —    (668,647)    —     (668,647)
Equity Contracts
 (956,728)    (335,975)    —     (1,292,703)
Foreign Currency Exchange Contracts
 —    (616,219)    —     (616,219)
Interest Rate Contracts
 (1,226,496)    —    —    (1,226,496)
  $  (1,731,767)   $  (1,514,017)   $  —   $  (3,245,784)
(a) Certain investments of the Fund were fair valued using NAV as a practical expedient as no quoted market value is available and therefore have been excluded from the fair value hierarchy.
(b) 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.
Currency Abbreviation 
AUD Australian Dollar
CAD Canadian Dollar
EUR Euro
GBP British Pound
JPY Japanese Yen
USD United States Dollar
16
Schedule of Investments (unaudited)  (continued)
August 31, 2023
BlackRock Sustainable Balanced Fund, Inc.
Portfolio Abbreviation 
ADR American Depositary Receipt
DAC Designated Activity Co.
ETF Exchange-Traded Fund
LP Limited Partnership
MTN Medium-Term Note
NVS Non-Voting Shares
OTC Over-the-Counter
REIT Real Estate Investment Trust
S&P Standard & Poor’s
SOFR Secured Overnight Financing Rate
TBA To-be-Announced
17