NPORT-EX 2 BRFBCP0BR022924.htm
Schedule of Investments (unaudited)  
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Common Stocks
Aerospace & Defense — 0.6%
BAE Systems PLC
     124,945 $  1,961,220
CAE, Inc.(a)
       4,945  92,330
Curtiss-Wright Corp.
      13,665  3,228,630
Dassault Aviation SA
         571  112,884
Embraer SA(a)
      16,808  82,027
Hexcel Corp.
         841  62,621
Kongsberg Gruppen ASA
       1,583  100,887
Northrop Grumman Corp.
         274  126,319
Saab AB, Class B
      18,415  1,451,722
Textron, Inc.
      21,066  1,876,349
Thales SA
       2,587  383,687
      9,478,676
Air Freight & Logistics — 0.1%
CJ Logistics Corp.(a)
      10,044  938,644
Expeditors International of Washington, Inc.
         490  58,604
Hyundai Glovis Co. Ltd.(a)
         616  88,189
Nippon Express Holdings, Inc.
       3,900  206,180
      1,291,617
Automobile Components — 0.1%
HL Mando Co. Ltd.
       1,057  26,390
Hyundai Mobis Co. Ltd.
         427  77,884
Hyundai Wia Corp.(a)
         871  39,413
Koito Manufacturing Co. Ltd.
  10,800  136,901
Lear Corp.
  3,269  448,997
Valeo SE
  4,123  47,580
      777,165
Automobiles — 0.9%
Bayerische Motoren Werke AG
  8,428  996,933
BYD Co. Ltd., Class A
  170,500  4,503,356
BYD Co. Ltd., Class H
  4,500  110,835
Geely Automobile Holdings Ltd.
  467,000  508,223
Mercedes-Benz Group AG, Class N
  68,341  5,445,746
NIO, Inc., Class A(a)
  7,330  41,962
SAIC Motor Corp. Ltd., Class A
  76,900  159,400
Tesla, Inc.(a)
  12,568  2,537,228
Yadea Group Holdings Ltd.(b)
  70,000  109,975
      14,413,658
Banks — 4.3%
ABN AMRO Bank NV, CVA(b)
  1,685  27,127
Banco Bilbao Vizcaya Argentaria SA
  309,895  3,090,984
Banco Santander SA
  84,665  352,840
Bancolombia SA
  6,422  53,961
Bank Central Asia Tbk PT
  2,000,700  1,258,973
Bank Negara Indonesia Persero Tbk PT
  213,300  81,520
Bank of America Corp.
  296,799  10,245,501
Bank Polska Kasa Opieki SA
  9,895  429,180
Bank Rakyat Indonesia Persero Tbk PT
  1,128,600  439,797
Barclays PLC
  291,714  609,684
BAWAG Group AG(b)
  23,488  1,330,222
Canadian Imperial Bank of Commerce
  91,975  4,352,234
China Merchants Bank Co. Ltd., Class H
  96,000  371,234
Credit Agricole SA
  28,923  392,279
CTBC Financial Holding Co. Ltd.
  50,000  46,546
DBS Group Holdings Ltd.
  23,900  592,607
DNB Bank ASA
  132,616  2,655,466
E.Sun Financial Holding Co. Ltd.
  152,491  121,911
Erste Group Bank AG
  4,728  189,040
First Financial Holding Co. Ltd.
  38,110  32,686
Grupo Financiero Banorte SAB de CV, Class O
  20,707  214,186
Security   Shares Value
Banks (continued)
ING Groep NV
     487,903 $  6,714,451
Intesa Sanpaolo SpA
     932,409  2,969,172
JPMorgan Chase & Co.
      17,000  3,163,020
KakaoBank Corp.
       4,302  92,189
KB Financial Group, Inc.
       4,915  234,417
Lloyds Banking Group PLC
      44,256  26,167
Mediobanca Banca di Credito Finanziario SpA
      35,738  486,826
Mitsubishi UFJ Financial Group, Inc.
     477,500  4,905,268
Mizuho Financial Group, Inc.
     416,300  7,777,356
NatWest Group PLC
      80,619  243,760
Shanghai Commercial & Savings Bank Ltd. (The)
          99  141
Société Générale SA
      58,801  1,428,021
Standard Chartered PLC
      16,097  136,100
Sumitomo Mitsui Financial Group, Inc.
     105,000  5,850,029
Swedbank AB, A Shares
     157,109  3,455,278
Taiwan Cooperative Financial Holding Co. Ltd.
     113,400  93,174
UniCredit SpA
     100,320  3,360,181
United Overseas Bank Ltd.
       9,600  199,763
      68,023,291
Beverages — 1.4%
Ambev SA
     577,155  1,466,369
Budweiser Brewing Co. APAC Ltd.(b)
     113,400  182,801
Coca-Cola Co. (The)
     146,815  8,811,836
Coca-Cola Femsa SAB de CV
  27,398  266,935
Kirin Holdings Co. Ltd.
  95,600  1,329,045
Kweichow Moutai Co. Ltd., Class A
  800  187,671
Molson Coors Beverage Co., Class B
  8,550  533,691
PepsiCo, Inc.
  50,443  8,340,246
Pernod Ricard SA
  7,608  1,271,554
      22,390,148
Biotechnology — 1.0%
3SBio, Inc.(b)
  295,000  194,637
AbbVie, Inc.
  26,155  4,604,588
Alkermes PLC(a)
  902  26,780
Amgen, Inc.
  8,775  2,402,858
BeiGene Ltd.(a)
  2,500  32,187
Celltrion, Inc.
  458  61,938
CSL Ltd.
  3,974  739,817
Exact Sciences Corp.(a)
  1,850  106,430
Genmab A/S(a)
  2,566  712,887
Gilead Sciences, Inc.
  22,756  1,640,708
Hugel, Inc.(a)
  551  75,961
Incyte Corp.(a)
  10,154  592,587
Innovent Biologics, Inc.(a)(b)
  59,500  320,866
Neurocrine Biosciences, Inc.(a)
  4,758  620,443
Regeneron Pharmaceuticals, Inc.(a)
  952  919,718
Vertex Pharmaceuticals, Inc.(a)
  4,508  1,896,696
      14,949,101
Broadline Retail — 2.3%
Alibaba Group Holding Ltd.
  321,300  2,953,930
Amazon.com, Inc.(a)
  163,818  28,956,470
eBay, Inc.
  83,349  3,940,741
JD.com, Inc., Class A
  66,600  751,640
momo.com, Inc.
  2,200  30,995
Pan Pacific International Holdings Corp.
  2,100  49,507
Poya International Co. Ltd.
  3,040  47,270
Shinsegae, Inc.
  720  94,583
Woolworths Holdings Ltd.
  7,666  25,648
      36,850,784
 
1
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Building Products — 0.1%
Lennox International, Inc.
         489 $  230,422
Owens Corning
      11,185  1,675,289
      1,905,711
Capital Markets — 1.1%
Franklin Resources, Inc.
       1,346  36,948
Guosen Securities Co. Ltd., Class A
      65,600  78,384
Guotai Junan Securities Co. Ltd., Class A
      63,300  132,422
Haitong Securities Co. Ltd., Class A
     210,400  266,530
Haitong Securities Co. Ltd., Class H
      34,400  17,076
Huatai Securities Co. Ltd., Class A
     385,700  776,705
Industrial Securities Co. Ltd., Class A
      34,200  27,546
Invesco Ltd.
      33,575  517,391
Macquarie Group Ltd.
      34,235  4,347,144
Moody’s Corp.
      19,296  7,321,288
MSCI, Inc., Class A
       1,188  666,432
Nasdaq, Inc.
       3,514  197,487
S&P Global, Inc.
       7,491  3,208,995
      17,594,348
Chemicals — 0.5%
Asahi Kasei Corp.
       4,400  30,615
Hanwha Solutions Corp.
      10,347  216,058
Johnson Matthey PLC
       1,135  22,124
KCC Corp.
       1,221  243,750
Kolon Industries, Inc.
  826  24,091
LG Chem Ltd.
  5,869  2,004,593
Novozymes A/S, B Shares
  58,842  3,319,154
Nutrien Ltd.
  9,187  479,540
Orica Ltd.
  18,792  209,417
PPG Industries, Inc.
  4,988  706,301
RPM International, Inc.
  5,564  641,807
Sinopec Shanghai Petrochemical Co. Ltd., Class A(a)
  114,000  43,824
      7,941,274
Commercial Services & Supplies — 0.1%
Brambles Ltd.
  1,926  18,912
Tetra Tech, Inc.
  11,938  2,116,846
      2,135,758
Communications Equipment — 0.0%
Accton Technology Corp.
  9,000  148,108
BYD Electronic International Co. Ltd.
  6,500  24,543
Ciena Corp.(a)
  2,335  133,048
Sercomm Corp.
  22,000  94,401
Wistron NeWeb Corp.
  4,146  20,151
ZTE Corp., Class H
  82,200  185,154
      605,405
Construction & Engineering — 0.9%
AECOM
  72,938  6,479,083
Daewoo Engineering & Construction Co. Ltd.(a)
  33,024  98,812
Eiffage SA
  7,671  835,357
EMCOR Group, Inc.
  8,295  2,600,648
Hyundai Engineering & Construction Co. Ltd.(a)
  2,055  53,603
JGC Holdings Corp.
  15,900  144,832
Stantec, Inc.
  29,537  2,466,295
Worley Ltd.
  52,740  574,488
WSP Global, Inc.
  1,080  171,428
      13,424,546
Construction Materials — 0.0%
James Hardie Industries PLC(a)
  5,623  222,420
Security   Shares Value
Consumer Finance — 0.7%
American Express Co.
      40,762 $  8,943,998
Synchrony Financial
      39,707  1,639,899
      10,583,897
Consumer Staples Distribution & Retail — 0.9%
Aeon Co. Ltd.
       9,400  224,443
Cia Brasileira de Distribuicao(a)
     178,243  145,575
Costco Wholesale Corp.
      15,547  11,565,258
Empire Co. Ltd., Class A
       7,074  179,254
Marks & Spencer Group PLC
      74,188  222,360
Tesco PLC
     567,893  2,002,979
Tsuruha Holdings, Inc.
       5,400  407,535
      14,747,404
Containers & Packaging — 0.0%
AptarGroup, Inc.
       2,482  348,622
Diversified Consumer Services — 0.1%
Cogna Educacao SA(a)
   1,585,225  809,976
Diversified Telecommunication Services — 0.2%
Deutsche Telekom AG, Registered Shares
      92,544  2,199,678
Singapore Telecommunications Ltd.
      58,400  101,926
Telefonica Brasil SA
       3,747  41,140
Telkom Indonesia Persero Tbk PT
   1,196,400  304,974
      2,647,718
Electric Utilities — 0.6%
Acciona SA
  3,279  367,329
CPFL Energia SA
  40,470  288,112
Edison International
  4,890  332,618
Enel SpA
  1,209,017  7,693,040
Energisa SA
  17,912  181,963
Energisa SA
  1,772  5,849
Iberdrola SA
  2,026  23,269
Orsted AS(b)
  3,430  192,086
Verbund AG
  1,400  101,346
      9,185,612
Electrical Equipment — 0.7%
ABB Ltd., Registered Shares
  178,753  8,248,081
Acuity Brands, Inc.
  2,525  634,381
Goldwind Science & Technology Co. Ltd., Class A
  438,000  464,009
Goneo Group Co. Ltd., Class A
  2,100  29,686
Legrand SA
  2,386  241,657
LS Electric Co. Ltd.
  1,569  75,656
Nordex SE(a)
  4,740  53,966
Shanghai Electric Group Co. Ltd., Class A(a)
  103,800  61,011
Signify NV(b)
  12,746  342,528
Vestas Wind Systems A/S(a)
  13,881  386,836
Voltronic Power Technology Corp.
  1,000  50,821
      10,588,632
Electronic Equipment, Instruments & Components — 0.6%
Chroma ATE, Inc.
  28,000  206,687
Delta Electronics, Inc.
  77,000  717,537
Primax Electronics Ltd.
  41,000  94,469
Samsung SDI Co. Ltd.
  805  228,693
Spectris PLC
  9,416  416,128
TE Connectivity Ltd.
  50,535  7,254,805
Tripod Technology Corp.
  6,000  39,558
      8,957,877
Energy Equipment & Services — 0.0%
Baker Hughes Co., Class A
  2,134  63,145
Schlumberger NV
  13,393  647,284
      710,429
 
2
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Entertainment — 0.4%
Bilibili, Inc., Class Z(a)
      17,000 $  164,853
CJ ENM Co. Ltd.(a)
         633  37,790
NCSoft Corp.
         611  89,115
NetEase, Inc.
       3,000  65,168
Netflix, Inc.(a)
       5,450  3,285,914
Nintendo Co. Ltd.
       3,400  189,993
Spotify Technology SA(a)
      11,100  2,846,151
Studio Dragon Corp.(a)
         800  27,222
      6,706,206
Financial Services — 1.9%
Berkshire Hathaway, Inc., Class B(a)
      12,665  5,185,051
Block, Inc., Class A(a)
      69,096  5,491,059
Chailease Holding Co. Ltd.
      13,260  73,313
Cielo SA
     335,817  359,386
FirstRand Ltd.
      49,744  168,289
Groupe Bruxelles Lambert NV
      17,982  1,352,388
Investor AB, B Shares
      45,380  1,141,728
Mastercard, Inc., Class A
      26,807  12,726,891
Sofina SA
         987  225,904
Visa, Inc., Class A
      10,197  2,882,080
Worldline SA(a)(b)
       3,307  38,070
      29,644,159
Food Products — 1.0%
BRF SA(a)
  73,871  225,279
Bunge Global SA
  6,552  618,312
China Mengniu Dairy Co. Ltd.
  45,000  112,515
General Mills, Inc.
  72,373  4,644,899
Marfrig Global Foods SA(a)
  129,529  254,832
MEIJI Holdings Co. Ltd.
  2,600  58,512
Nestlé SA, Registered Shares
  95,063  9,859,669
Nisshin Seifun Group, Inc.
  4,100  56,694
Tingyi Cayman Islands Holding Corp.
  66,000  73,396
Uni-President China Holdings Ltd.
  131,000  78,639
      15,982,747
Gas Utilities — 0.1%
ENN Energy Holdings Ltd.
  8,400  68,206
UGI Corp.
  83,935  2,054,729
      2,122,935
Ground Transportation — 0.1%
Central Japan Railway Co.
  7,400  186,109
Grab Holdings Ltd., Class A(a)
  10,155  31,176
Localiza Rent a Car SA
  43,150  458,747
Old Dominion Freight Line, Inc.
  68  30,089
Ryder System, Inc.
  1,633  186,325
Uber Technologies, Inc.(a)
  1,850  147,075
      1,039,521
Health Care Equipment & Supplies — 1.1%
Cochlear Ltd.
  2,619  597,010
Dexcom, Inc.(a)
  631  72,609
Edwards Lifesciences Corp.(a)
  24,874  2,111,056
Hologic, Inc.(a)
  2,242  165,460
IDEXX Laboratories, Inc.(a)
  652  375,050
Intuitive Surgical, Inc.(a)
  10,445  4,027,592
Medtronic PLC
  98,014  8,170,447
Stryker Corp.
  3,061  1,068,503
      16,587,727
Health Care Providers & Services — 1.0%
Cardinal Health, Inc.
  18,661  2,089,659
Cencora, Inc.
  387  91,177
Cigna Group (The)
  1,546  519,672
Security   Shares Value
Health Care Providers & Services (continued)
Elevance Health, Inc.
      11,991 $  6,010,489
Shanghai Pharmaceuticals Holding Co. Ltd., Class A
      31,500  79,131
Shanghai Pharmaceuticals Holding Co. Ltd., Class H
      55,700  89,571
Sinopharm Group Co. Ltd., Class H
      64,000  179,100
UnitedHealth Group, Inc.
      13,919  6,870,418
      15,929,217
Health Care Technology — 0.0%
Veeva Systems, Inc., Class A(a)
         674  151,994
Hotel & Resort REITs — 0.0%
RLJ Lodging Trust
          17  202
Hotels, Restaurants & Leisure — 1.3%
Aristocrat Leisure Ltd.
      48,246  1,465,879
Booking Holdings, Inc.(a)
       2,486  8,623,511
Jiumaojiu International Holdings Ltd.(b)
      40,000  27,764
MakeMyTrip Ltd.(a)(c)
      25,010  1,542,867
McDonald’s Corp.
      14,660  4,284,825
Meituan, Class B(a)(b)
     230,470  2,339,770
MGM Resorts International(a)
       2,718  117,635
Oriental Land Co. Ltd.
       7,700  275,970
Trip.com Group Ltd.(a)
      14,131  641,410
Yum China Holdings, Inc.
       2,812  120,607
Yum! Brands, Inc.
       1,222  169,149
      19,609,387
Household Durables — 0.5%
Barratt Developments PLC
  60,979  359,783
DR Horton, Inc.
  4,212  629,441
Gree Electric Appliances, Inc. of Zhuhai, Class A
  181,900  984,388
KB Home
  2,196  145,880
Lennar Corp., Class A
  6,476  1,026,511
Nikon Corp.
  13,500  133,656
Panasonic Holdings Corp.
  417,800  3,949,727
PulteGroup, Inc.
  547  59,284
Sekisui House Ltd.
  18,000  400,962
Taylor Morrison Home Corp., Class A(a)
  4,719  267,143
Toll Brothers, Inc.
  884  101,342
      8,058,117
Household Products — 1.0%
Colgate-Palmolive Co.
  91,020  7,875,050
Kimberly-Clark Corp.
  23,230  2,814,779
Procter & Gamble Co. (The)
  29,757  4,729,578
      15,419,407
Independent Power and Renewable Electricity Producers — 0.1%
CECEP Solar Energy Co. Ltd., Class A
  607,200  457,449
China Datang Corp. Renewable Power Co. Ltd., Class H
  58,000  13,171
Drax Group PLC
  47,725  280,553
ReNew Energy Global PLC, Class A(a)(c)
  28,001  182,006
      933,179
Industrial Conglomerates — 1.8%
3M Co.
  65,983  6,078,354
Doosan Co. Ltd.(a)
  717  49,106
General Electric Co.
  19,280  3,024,839
Honeywell International, Inc.
  41,717  8,290,420
Siemens AG, Registered Shares
  48,769  9,654,748
Smiths Group PLC
  73,416  1,494,708
      28,592,175
 
3
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Industrial REITs — 0.1%
Prologis, Inc.
       6,148 $  819,344
Segro PLC
     104,327  1,115,829
Tritax Big Box REIT PLC
      26,791  49,691
      1,984,864
Insurance — 1.4%
AIA Group Ltd.
     618,400  4,985,038
Aon PLC, Class A
       1,643  519,172
Arch Capital Group Ltd.(a)
         597  52,291
AXA SA
      22,042  784,738
Cathay Financial Holding Co. Ltd.
      26,019  37,125
Direct Line Insurance Group PLC(a)
      29,862  76,236
Hyundai Marine & Fire Insurance Co. Ltd.(a)
       1,452  34,342
Manulife Financial Corp.
      53,997  1,281,541
Marsh & McLennan Cos., Inc.
       1,609  325,452
MetLife, Inc.
      76,796  5,355,753
NN Group NV
      69,735  3,112,114
Ping An Insurance Group Co. of China Ltd., H Shares
     234,000  1,040,638
Reinsurance Group of America, Inc.
       1,028  181,802
Travelers Cos., Inc. (The)
      16,754  3,701,964
      21,488,206
Interactive Media & Services — 2.9%
AfreecaTV Co. Ltd.
       1,263  122,195
Alphabet, Inc., Class A(a)
      95,781  13,261,837
Alphabet, Inc., Class C, NVS(a)
  86,203  12,049,455
Auto Trader Group PLC(b)
  179,378  1,679,664
Baidu, Inc., Class A(a)
  60,550  766,163
JOYY, Inc., ADR
  3,231  101,777
Kuaishou Technology(a)(b)
  43,500  245,641
Meta Platforms, Inc., Class A
  23,569  11,551,874
NAVER Corp.
  283  41,553
Rightmove PLC
  9,517  68,301
Scout24 SE(b)
  2,473  179,824
Tencent Holdings Ltd.
  142,800  5,002,375
      45,070,659
IT Services — 0.6%
Accenture PLC, Class A
  3,896  1,460,143
Amdocs Ltd.
  1,646  150,115
CGI, Inc.(a)
  1,212  139,155
DHC Software Co. Ltd., Class A
  25,700  20,554
GoDaddy, Inc., Class A(a)
  6,469  738,436
Kingsoft Cloud Holdings Ltd.(a)
  108,000  21,163
Nomura Research Institute Ltd.
  4,700  132,070
Otsuka Corp.
  1,400  61,560
Shopify, Inc., Class A(a)
  26,781  2,046,142
VeriSign, Inc.(a)
  17,936  3,502,722
Wix.com Ltd.(a)
  11,890  1,666,740
      9,938,800
Leisure Products — 0.1%
Sega Sammy Holdings, Inc.
  73,800  926,492
Life Sciences Tools & Services — 0.5%
Agilent Technologies, Inc.
  53,399  7,334,887
Pharmaron Beijing Co. Ltd., Class H(b)
  4,275  5,709
WuXi AppTec Co. Ltd., H Shares(b)
  7,200  44,385
      7,384,981
Machinery — 0.7%
Amada Co. Ltd.
  194,600  2,163,594
Doosan Bobcat, Inc.
  831  29,339
Flowserve Corp.
  894  37,834
Graco, Inc.
  11,034  1,006,963
Security   Shares Value
Machinery (continued)
Hyundai Construction Equipment Co. Ltd.
       1,451 $  58,759
Komatsu Ltd.
       1,800  52,251
Oshkosh Corp.
      11,540  1,279,324
Otis Worldwide Corp.
      50,169  4,781,106
Wartsila Oyj Abp
      68,755  1,064,382
Weir Group PLC (The)
       2,452  56,874
Yutong Bus Co. Ltd., Class A
      20,600  53,369
      10,583,795
Marine Transportation — 0.4%
Kuehne + Nagel International AG, Registered Shares
      19,381  6,525,310
Wisdom Marine Lines Co. Ltd.
      45,000  87,350
      6,612,660
Media — 0.2%
Cheil Worldwide, Inc.
       2,447  33,995
Fox Corp., Class A, NVS
      51,200  1,525,248
Fox Corp., Class B
      33,200  909,016
Informa PLC
       4,169  42,744
MultiChoice Group(a)
       4,584  24,954
Paramount Global, Class B, NVS
      61,015  673,606
      3,209,563
Metals & Mining — 0.8%
Aluminum Corp. of China Ltd., Class H
     134,000  66,771
Anglo American PLC
      26,483  570,628
Anglo American PLC
  33,910  739,458
ArcelorMittal SA
  168,991  4,408,199
Cia Brasileira de Aluminio
  118,708  95,280
CMOC Group Ltd., Class A
  81,200  69,116
CMOC Group Ltd., Class H
  531,000  327,578
Constellium SE, Class A(a)
  991  19,216
Jiangxi Copper Co. Ltd., Class H
  26,000  38,587
Norsk Hydro ASA
  37,247  191,180
Rio Tinto PLC
  5,076  325,627
Southern Copper Corp.
  4,322  349,477
Wheaton Precious Metals Corp.
  128,852  5,310,166
      12,511,283
Multi-Utilities — 0.3%
A2A SpA
  408,009  741,597
Centrica PLC
  377,397  600,465
E.ON SE, Class N
  1,669  21,312
Engie SA
  200,020  3,209,600
      4,572,974
Oil, Gas & Consumable Fuels — 2.8%
Aker BP ASA
  797  19,346
Ampol Ltd.
  2,497  64,010
BP PLC
  131,860  766,116
Chevron Corp.
  29,347  4,461,038
China Petroleum & Chemical Corp., Class H
  330,000  181,815
ConocoPhillips
  78,210  8,801,753
Cosan SA
  27,237  93,089
Crescent Point Energy Corp.
  29,707  216,485
Enbridge, Inc.
  124,029  4,263,311
ENEOS Holdings, Inc.
  330,800  1,427,266
EOG Resources, Inc.
  14,816  1,695,839
Equinor ASA
  38,877  957,882
Exxon Mobil Corp.
  81,205  8,487,547
Inpex Corp.
  1,400  18,660
Keyera Corp.
  26,787  659,041
Marathon Petroleum Corp.
  21,999  3,722,891
Parkland Corp.
  10,912  349,033
 
4
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Oil, Gas & Consumable Fuels (continued)
Repsol SA
       9,779 $  155,340
Shell PLC
       2,376  73,489
Ultrapar Participacoes SA
      97,860  577,581
Valero Energy Corp.
      53,308  7,540,950
      44,532,482
Paper & Forest Products — 0.0%
Louisiana-Pacific Corp.
         364  26,925
Passenger Airlines — 0.3%
Alaska Air Group, Inc.(a)
       2,248  84,053
ANA Holdings, Inc.(a)
      28,500  621,364
Delta Air Lines, Inc.
      40,521  1,712,823
Deutsche Lufthansa AG, Registered Shares(a)
      31,100  241,859
easyJet PLC
       9,875  68,036
Singapore Airlines Ltd.
     253,500  1,220,157
      3,948,292
Personal Care Products — 0.2%
AMOREPACIFIC Group
       4,557  91,392
LG H&H Co. Ltd.
         174  41,792
Natura & Co. Holding SA(a)
     200,135  654,623
Unilever PLC
      32,710  1,597,369
      2,385,176
Pharmaceuticals — 3.5%
Astellas Pharma, Inc.
     268,500  2,934,371
AstraZeneca PLC
  5,511  694,681
Bristol-Myers Squibb Co.
  84,066  4,266,350
China Medical System Holdings Ltd.
  15,000  24,658
Daiichi Sankyo Co. Ltd.
  42,800  1,409,571
Eli Lilly & Co.
  10,712  8,073,420
GSK PLC
  82,558  1,726,986
Johnson & Johnson
  68,767  11,097,619
Merck & Co., Inc.
  57,821  7,351,940
Novartis AG, Registered Shares
  43,374  4,376,331
Novo Nordisk A/S, Class B
  100,888  12,042,565
Otsuka Holdings Co. Ltd.
  38,900  1,578,427
Sino Biopharmaceutical Ltd.
  93,000  36,964
      55,613,883
Professional Services — 0.3%
Automatic Data Processing, Inc.
  237  59,518
ExlService Holdings, Inc.(a)
  1,119  34,823
Experian PLC
  58,108  2,488,508
Genpact Ltd.
  35,952  1,222,368
Leidos Holdings, Inc.
  190  24,294
Recruit Holdings Co. Ltd.
  35,300  1,423,855
      5,253,366
Real Estate Management & Development — 0.5%
CBRE Group, Inc., Class A(a)
  1,936  177,899
China Resources Land Ltd.
  40,000  122,174
FirstService Corp.
  1,827  300,661
Greentown China Holdings Ltd.
  47,000  37,581
Jones Lang LaSalle, Inc.(a)
  647  123,085
Mitsubishi Estate Co. Ltd.
  25,700  393,376
Mitsui Fudosan Co. Ltd.
  200,700  5,448,378
Nomura Real Estate Holdings, Inc.
  28,000  697,002
Shenzhen Overseas Chinese Town Co. Ltd., Class A(a)
  395,600  168,196
Wharf Real Estate Investment Co. Ltd.
  28,000  93,244
Zillow Group, Inc., Class C, NVS(a)
  16,403  921,028
      8,482,624
Security   Shares Value
Residential REITs — 0.0%
Camden Property Trust
       7,506 $  709,167
Retail REITs — 0.0%
Brixmor Property Group, Inc.
      23,769  537,417
Klepierre SA
       3,112  79,055
      616,472
Semiconductors & Semiconductor Equipment — 4.9%
Applied Materials, Inc.
      47,860  9,649,533
ASE Technology Holding Co. Ltd.
     137,000  604,806
ASML Holding NV
         430  408,071
ASPEED Technology, Inc.
       3,000  259,839
Broadcom, Inc.
       1,703  2,214,735
Cirrus Logic, Inc.(a)
       5,378  493,808
Elan Microelectronics Corp.
      68,000  357,220
King Yuan Electronics Co. Ltd.
      42,000  118,269
KLA Corp.
       2,963  2,021,655
Lam Research Corp.
       1,409  1,321,994
MediaTek, Inc.
     106,000  3,825,150
Micron Technology, Inc.
       1,170  106,014
NVIDIA Corp.
      41,761  33,037,962
Parade Technologies Ltd.
       2,000  64,335
Phison Electronics Corp.
      43,000  855,296
QUALCOMM, Inc.
      62,218  9,817,378
Realtek Semiconductor Corp.
      19,000  342,438
Silergy Corp.
  4,000  52,780
Sino-American Silicon Products, Inc.
  40,000  235,044
Taiwan Semiconductor Manufacturing Co. Ltd.
  320,000  7,012,647
Tokyo Electron Ltd.
  11,000  2,729,198
United Microelectronics Corp.
  306,000  471,800
Win Semiconductors Corp.
  11,000  52,928
WONIK IPS Co. Ltd.(a)
  2,303  56,899
      76,109,799
Software — 5.4%
Adobe, Inc.(a)
  11,102  6,220,229
Beijing Shiji Information Technology Co. Ltd., Class A(a)
  92,200  103,176
Box, Inc., Class A(a)
  9,776  252,123
Cadence Design Systems, Inc.(a)
  27,318  8,315,053
Fortinet, Inc.(a)
  291  20,111
Guidewire Software, Inc.(a)
  3,940  470,200
InterDigital, Inc.
  2  214
Kingdee International Software Group Co. Ltd.(a)
  66,000  70,969
Manhattan Associates, Inc.(a)
  24,423  6,187,079
Microsoft Corp.
  110,919  45,880,535
NavInfo Co. Ltd., Class A(a)
  109,700  111,756
Nice Ltd.(a)
  491  120,126
Nutanix, Inc., Class A(a)
  21,059  1,330,086
Salesforce, Inc.(a)
  4,771  1,473,380
Sangfor Technologies, Inc., Class A(a)
  4,500  39,597
SAP SE
  51,278  9,609,159
ServiceNow, Inc.(a)
  2,317  1,787,195
Splunk, Inc.(a)
  2,141  334,467
Synopsys, Inc.(a)
  38  21,802
Teradata Corp.(a)
  10,928  411,111
TOTVS SA
  20,782  129,556
Workday, Inc., Class A(a)
  5,502  1,621,219
Workiva, Inc., Class A(a)
  944  81,297
      84,590,440
Specialized REITs — 0.1%
American Tower Corp.
  3,959  787,287
 
5
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Shares Value
Specialized REITs (continued)
Equinix, Inc.
         964 $  856,822
SBA Communications Corp.
         268  56,074
      1,700,183
Specialty Retail — 1.1%
Best Buy Co., Inc.
      81,672  6,605,631
Home Depot, Inc. (The)
      13,992  5,325,495
Industria de Diseno Textil SA
     121,575  5,408,643
TJX Cos., Inc. (The)
         432  42,829
Topsports International Holdings Ltd.(b)
      66,000  44,664
      17,427,262
Technology Hardware, Storage & Peripherals — 3.5%
Advantech Co. Ltd.
       3,499  43,185
Apple Inc.
     245,641  44,399,611
Chicony Electronics Co. Ltd.
      33,000  195,898
Dell Technologies, Inc., Class C
      12,763  1,208,146
Hewlett Packard Enterprise Co.
     137,202  2,089,586
HP, Inc.
     256,044  7,253,726
Lenovo Group Ltd.
     200,000  220,946
Lite-On Technology Corp.
      25,000  86,741
      55,497,839
Textiles, Apparel & Luxury Goods — 0.5%
ANTA Sports Products Ltd.
      36,400  354,866
Bosideng International Holdings Ltd.
      50,000  25,149
Deckers Outdoor Corp.(a)
  1,591  1,424,884
Hermes International SCA
  1,613  4,036,278
Li Ning Co. Ltd.
  25,500  63,090
Lululemon Athletica, Inc.(a)
  2,081  972,014
Makalot Industrial Co. Ltd.
  40,000  470,786
Pandora A/S
  525  84,903
      7,431,970
Trading Companies & Distributors — 0.1%
Marubeni Corp.
  35,200  583,334
Mitsubishi Corp.
  13,000  278,844
Mitsui & Co. Ltd.
  2,900  127,375
Sumitomo Corp.
  13,100  307,535
      1,297,088
Transportation Infrastructure — 0.1%
Beijing Capital International Airport Co. Ltd., Class H(a)
  96,000  30,958
CCR SA
  163,967  453,201
EcoRodovias Infraestrutura e Logistica SA
  133,591  247,236
Flughafen Zurich AG, Registered Shares
  3,106  655,213
Grupo Aeroportuario del Centro Norte SAB de CV, Class B
  6,914  59,922
Grupo Aeroportuario del Pacifico SAB de CV, Class B
  2,313  34,198
Taiwan High Speed Rail Corp.
  21,000  20,068
      1,500,796
Water Utilities — 0.1%
United Utilities Group PLC
  65,497  847,784
Wireless Telecommunication Services — 0.2%
Far EasTone Telecommunications Co. Ltd.
  18,000  44,845
MTN Group Ltd.
  79,068  344,222
SK Telecom Co. Ltd.
  11,191  442,988
SoftBank Corp.
  38,800  510,355
SoftBank Group Corp.
  13,400  793,719
Tele2 AB, B Shares
  26,573  222,878
Security   Shares Value
Wireless Telecommunication Services (continued)
TIM SA
       5,606 $  20,434
Vodafone Group PLC
   1,424,740  1,251,505
      3,630,946
Total Common Stocks — 59.1%

(Cost: $687,248,120)
927,247,813
    Par
(000) 		 
Corporate Bonds
Aerospace & Defense — 0.0%
AAR Escrow Issuer LLC, 6.75%, 03/15/29(b)
USD           40    40,378
Rolls-Royce PLC, 5.75%, 10/15/27(b)
         275  273,651
      314,029
Air Freight & Logistics — 0.0%
United Parcel Service, Inc., 4.45%, 04/01/30
         120  118,118
Automobiles — 0.1%
Honda Motor Co. Ltd., 2.53%, 03/10/27
       1,000  933,948
Banks — 2.9%
Banco Bilbao Vizcaya Argentaria SA, 6.14%, 09/14/28
       1,800  1,826,869
Banco Santander SA      
4.18%, 03/24/28
       1,000  957,470
5.59%, 08/08/28
       1,800  1,815,954
6.61%, 11/07/28
       1,600  1,681,099
3.23%, 11/22/32
         600  496,324
6.92%, 08/08/33
         800  830,730
Bank of America Corp.      
2.55%, 02/04/28
       1,150  1,064,258
4.38%, 04/27/28
       1,260  1,224,932
2.09%, 06/14/29
       1,200  1,054,536
3.19%, 07/23/30
         370  333,084
2.50%, 02/13/31
         150  127,875
Bank of Montreal, 5.20%, 02/01/28
       1,180  1,184,599
Citigroup, Inc.      
2.67%, 01/29/31
  1,550  1,329,800
3.79%, 03/17/33
  1,570  1,389,189
6.17%, 05/25/34
  45  45,337
5.83%, 02/13/35
  830  812,048
Series VAR, 3.07%, 02/24/28
  1,650  1,545,535
Fifth Third Bancorp, 6.34%, 07/27/29
  90  92,355
HSBC Holdings PLC      
1.59%, 05/24/27
  2,280  2,087,427
2.25%, 11/22/27
  2,250  2,061,101
ING Groep NV, 4.02%, 03/28/28
  1,710  1,641,947
JPMorgan Chase & Co.      
4.85%, 07/25/28
  1,835  1,814,665
5.01%, 01/23/30
  675  667,810
5.72%, 09/14/33
  2,320  2,349,070
5.35%, 06/01/34
  1,240  1,234,507
Lloyds Banking Group PLC, 3.75%, 01/11/27
  1,000  959,594
Mitsubishi UFJ Financial Group, Inc., 2.34%, 01/19/28
  1,250  1,153,864
Mizuho Financial Group, Inc., 1.55%, 07/09/27
  1,850  1,697,106
Royal Bank of Canada, 5.20%, 08/01/28
  1,460  1,469,333
Santander Holdings U.S.A., Inc.      
6.50%, 03/09/29
  2,670  2,710,805
6.57%, 06/12/29
  890  905,559
7.66%, 11/09/31
  1,270  1,357,002
Santander UK Group Holdings PLC, 6.53%, 01/10/29
  880  902,365
 
6
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Banks (continued)
Sumitomo Mitsui Financial Group, Inc.      
5.71%, 01/13/30
USD          700 $  717,859
5.85%, 07/13/30
       1,410  1,452,135
Toronto-Dominion Bank. (The), Series FXD, 1.95%, 01/12/27
       1,310  1,205,643
Truist Financial Corp., 5.71%, 01/24/35
         225  222,757
U.S. Bancorp, 5.68%, 01/23/35
         130  129,698
UBS AG, 5.65%, 09/11/28
         200  203,799
UniCredit SpA, 7.30%, 04/02/34(b)
         693  707,264
      45,463,304
Beverages — 0.7%
Coca-Cola Co. (The)      
3.00%, 03/05/51
       5,180  3,649,967
2.50%, 03/15/51
         770  481,920
Diageo Capital PLC      
2.00%, 04/29/30
       1,820  1,535,025
2.13%, 04/29/32
         960  776,968
5.50%, 01/24/33
       3,930  4,038,770
      10,482,650
Biotechnology — 0.3%
Amgen, Inc., 2.20%, 02/21/27
         650  599,410
Gilead Sciences, Inc.      
5.25%, 10/15/33
         570  576,642
5.55%, 10/15/53
         720  733,912
Regeneron Pharmaceuticals, Inc., 1.75%, 09/15/30
  4,180  3,381,329
      5,291,293
Broadline Retail — 0.0%
Macy’s Retail Holdings LLC, 5.88%, 04/01/29(b)
  307  295,663
Building Products — 0.4%
Builders FirstSource, Inc., 6.38%, 03/01/34(b)
  150  149,650
Carrier Global Corp.      
3.38%, 04/05/40
  1,040  802,599
6.20%, 03/15/54
  70  76,404
Eco Material Technologies, Inc., 7.88%, 01/31/27(b)
  100  99,777
Fortune Brands Innovations, Inc.      
4.00%, 03/25/32
  1,350  1,225,595
5.88%, 06/01/33
  2,080  2,111,832
Owens Corning      
3.40%, 08/15/26
  350  334,335
4.30%, 07/15/47
  1,430  1,172,961
Smyrna Ready Mix Concrete LLC, 8.88%, 11/15/31(b)
  170  180,163
      6,153,316
Capital Markets — 1.4%
Ares Capital Corp.      
7.00%, 01/15/27
  930  948,527
2.88%, 06/15/27
  520  472,386
Bank of New York Mellon Corp. (The), 4.71%, 02/01/34
  630  603,835
Blackstone Private Credit Fund, 2.63%, 12/15/26
  130  117,435
CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 08/15/30(b)
  5  4,148
Credit Suisse AG, 1.25%, 08/07/26
  430  389,863
Deutsche Bank AG      
5.71%, 02/08/28
  260  258,200
6.82%, 11/20/29
  190  196,486
FactSet Research Systems, Inc., 2.90%, 03/01/27
  3,000  2,795,702
Freedom Mortgage Corp.      
12.00%, 10/01/28(b)
  55  59,584
12.25%, 10/01/30(b)
  90  99,021
Security   Par
(000) 		Value
Capital Markets (continued)
Frontier Communications Holdings LLC      
6.75%, 05/01/29(b)
USD          340 $  305,250
8.63%, 03/15/31(b)
         289  292,873
FS KKR Capital Corp.      
2.63%, 01/15/27
         445  402,634
3.13%, 10/12/28
       1,130  976,067
Goldman Sachs Group, Inc. (The)      
2.64%, 02/24/28
       2,400  2,222,723
2.60%, 02/07/30
       1,220  1,059,492
2.38%, 07/21/32
       1,290  1,049,781
Main Street Capital Corp., 6.95%, 03/01/29
         265  265,984
Morgan Stanley      
3.63%, 01/20/27
         900  867,739
2.48%, 01/21/28
         950  878,841
5.16%, 04/20/29
         980  974,395
1.79%, 02/13/32
       2,060  1,631,046
4.89%, 07/20/33
       2,585  2,483,016
5.25%, 04/21/34
       1,245  1,222,009
S&P Global, Inc., 2.45%, 03/01/27
       1,000  932,253
StoneX Group, Inc., 7.88%, 03/01/31(b)
         130  131,657
United Wholesale Mortgage LLC, 5.50%, 04/15/29(b)
         207  193,217
      21,834,164
Chemicals — 0.0%
Chemours Co. (The), 5.75%, 11/15/28(b)
  120  105,246
Ecolab, Inc., 2.70%, 12/15/51
  760  481,975
      587,221
Commercial Services & Supplies — 0.0%
Steelcase, Inc., 5.13%, 01/18/29
  107  100,724
Communications Equipment — 0.2%
Cisco Systems, Inc., 5.30%, 02/26/54
  325  328,950
Motorola Solutions, Inc.      
2.30%, 11/15/30
  600  494,543
2.75%, 05/24/31
  1,990  1,661,581
5.60%, 06/01/32
  1,250  1,253,179
      3,738,253
Construction & Engineering — 0.2%
Quanta Services, Inc., 2.90%, 10/01/30
  4,150  3,596,749
Consumer Finance — 0.8%
Ally Financial, Inc., 6.85%, 01/03/30
  460  470,132
American Express Co.      
2.55%, 03/04/27
  700  649,672
5.28%, 07/27/29
  1,020  1,025,212
5.04%, 05/01/34
  450  441,660
5.63%, 07/28/34
  160  161,246
Bread Financial Holdings, Inc., 9.75%, 03/15/29(b)
  140  143,185
Brookfield Finance, Inc., 5.97%, 03/04/54
  745  750,850
Burford Capital Global Finance LLC      
6.88%, 04/15/30(b)
  35  33,575
9.25%, 07/01/31(b)
  15  15,750
Capital One Financial Corp.      
7.62%, 10/30/31
  3,250  3,556,613
5.82%, 02/01/34
  1,310  1,295,282
Credit Acceptance Corp., 9.25%, 12/15/28(b)
  145  153,388
Discover Financial Services, 4.10%, 02/09/27
  10  9,591
GGAM Finance Ltd., 8.00%, 02/15/27(b)
  85  87,123
goeasy Ltd.      
9.25%, 12/01/28(b)
  80  84,886
7.63%, 07/01/29(b)
  120  119,964
 
7
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Consumer Finance (continued)
OneMain Finance Corp.      
7.13%, 03/15/26
USD          169 $  171,745
6.63%, 01/15/28
         174  173,012
9.00%, 01/15/29
         647  679,505
Synchrony Financial, 2.88%, 10/28/31
       2,180  1,711,308
      11,733,699
Containers & Packaging — 0.0%
Mauser Packaging Solutions Holding Co.      
7.88%, 08/15/26(b)
         227  230,023
9.25%, 04/15/27(b)
          62  60,291
      290,314
Diversified REITs — 0.6%
American Tower Corp.      
1.45%, 09/15/26
         425  386,298
5.80%, 11/15/28
          25  25,480
5.65%, 03/15/33
       1,200  1,207,787
Crown Castle, Inc., 5.80%, 03/01/34
       1,685  1,707,712
Digital Realty Trust LP, 5.55%, 01/15/28
       2,860  2,888,694
Equinix, Inc., 1.45%, 05/15/26
       1,000  920,143
Iron Mountain, Inc.      
7.00%, 02/15/29(b)
         331  335,992
5.25%, 07/15/30(b)
         700  655,046
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC      
10.50%, 02/15/28(b)
  462  478,215
6.50%, 02/15/29(b)
  168  129,348
      8,734,715
Diversified Telecommunication Services — 0.0%
Consolidated Communications, Inc., 6.50%, 10/01/28(b)
  34  29,155
Koninklijke KPN NV, 8.38%, 10/01/30
  450  523,733
Level 3 Financing, Inc., 10.50%, 05/15/30
  130  133,250
Level 3 New Money TSA, 11.00%, 11/15/29(d)
  29  29,612
      715,750
Electric Utilities — 0.7%
Avangrid, Inc.      
3.20%, 04/15/25
  2,180  2,120,552
3.80%, 06/01/29
  500  466,476
Commonwealth Edison Co., 4.90%, 02/01/33
  1,590  1,564,339
Eversource Energy      
2.90%, 03/01/27
  1,000  935,140
3.38%, 03/01/32
  750  644,360
Series U, 1.40%, 08/15/26
  200  181,866
Exelon Corp.      
2.75%, 03/15/27
  550  511,625
3.35%, 03/15/32
  350  305,122
NSTAR Electric Co.      
3.25%, 05/15/29
  1,000  931,047
3.95%, 04/01/30
  1,000  937,280
Public Service Electric & Gas Co., 5.20%, 08/01/33
  2,410  2,435,050
      11,032,857
Electronic Equipment, Instruments & Components — 0.2%
Allegion U.S. Holding Co., Inc., 3.55%, 10/01/27
  45  42,545
Keysight Technologies, Inc.      
4.60%, 04/06/27
  1,250  1,230,399
3.00%, 10/30/29
  1,150  1,022,844
Vontier Corp., 2.95%, 04/01/31
  1,610  1,324,608
      3,620,396
Energy Equipment & Services — 0.2%
Brand Industrial Services, Inc., 10.38%, 08/01/30(b)
  65  69,123
Security   Par
(000) 		Value
Energy Equipment & Services (continued)
Helix Energy Solutions Group, Inc., 9.75%, 03/01/29(b)
USD          113 $  119,417
Noble Finance II LLC, 8.00%, 04/15/30(b)
          10  10,282
Pentair Finance Sarl      
4.50%, 07/01/29
       1,580  1,522,404
5.90%, 07/15/32
         740  759,120
Valaris Ltd., 8.38%, 04/30/30(b)
          30  30,762
      2,511,108
Financial Services — 0.1%
Freedom Mortgage Holdings LLC, 9.25%, 02/01/29(b)
          20  20,304
GN Bondco LLC, 9.50%, 10/15/31(b)
         220  217,800
Nationstar Mortgage Holdings, Inc.      
5.00%, 02/01/26(b)
          20  19,428
6.00%, 01/15/27(b)
         292  287,086
5.13%, 12/15/30(b)
         644  574,838
7.13%, 02/01/32(b)
          85  83,605
PennyMac Financial Services, Inc., 7.88%, 12/15/29(b)
         114  116,691
      1,319,752
Food Products — 0.2%
Kellanova      
3.40%, 11/15/27
         670  631,754
4.30%, 05/15/28
       3,000  2,915,792
      3,547,546
Gas Utilities — 0.1%
AmeriGas Partners LP/AmeriGas Finance Corp.      
5.50%, 05/20/25
  182  178,633
5.75%, 05/20/27
  627  592,763
9.38%, 06/01/28(b)
  95  96,425
ONE Gas, Inc., 4.25%, 09/01/32
  155  146,542
      1,014,363
Ground Transportation — 0.3%
Canadian National Railway Co., 3.85%, 08/05/32
  575  528,814
Ryder System, Inc.      
6.30%, 12/01/28
  1,120  1,166,808
6.60%, 12/01/33
  2,140  2,291,317
Triton Container International Ltd./TAL International Container Corp., 3.25%, 03/15/32
  547  433,864
VT Topco, Inc., 8.50%, 08/15/30(b)
  80  83,436
XPO, Inc., 7.13%, 02/01/32(b)
  50  50,833
      4,555,072
Health Care Equipment & Supplies — 0.0%
Bausch + Lomb Corp., 8.38%, 10/01/28(b)
  125  130,625
Zimmer Biomet Holdings, Inc., 5.35%, 12/01/28
  140  141,563
      272,188
Health Care Providers & Services — 1.6%
Cencora, Inc.      
2.70%, 03/15/31
  2,050  1,751,425
4.30%, 12/15/47
  1,280  1,089,565
DaVita, Inc., 4.63%, 06/01/30(b)
  1,029  905,157
DH Europe Finance II Sarl, 2.60%, 11/15/29
  3,710  3,298,355
Elevance Health, Inc., 3.65%, 12/01/27
  1,500  1,433,959
Fortrea Holdings, Inc., 7.50%, 07/01/30(b)
  23  23,517
HCA, Inc.      
5.25%, 06/15/26
  850  844,825
3.13%, 03/15/27
  440  413,432
5.20%, 06/01/28
  590  587,804
5.45%, 04/01/31
  310  308,534
3.63%, 03/15/32
  1,989  1,737,503
 
8
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Health Care Providers & Services (continued)
HCA, Inc.      
5.60%, 04/01/34
USD          355 $  353,439
4.63%, 03/15/52
       1,555  1,273,176
Heartland Dental LLC/Heartland Dental Finance Corp., 10.50%, 04/30/28(b)
          90  94,500
IQVIA, Inc.      
5.70%, 05/15/28
       2,800  2,820,328
6.25%, 02/01/29
          80  82,310
Star Parent, Inc., 9.00%, 10/01/30(b)
          30  31,661
Tenet Healthcare Corp., 6.13%, 10/01/28
         708  700,035
UnitedHealth Group, Inc.      
5.30%, 02/15/30
         491  500,431
4.20%, 05/15/32
       5,000  4,711,830
4.50%, 04/15/33
         640  614,174
5.88%, 02/15/53
         200  213,964
5.05%, 04/15/53
       1,540  1,465,148
      25,255,072
Hotels, Restaurants & Leisure — 0.1%
Churchill Downs, Inc., 6.75%, 05/01/31(b)
         585  585,349
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc      
5.00%, 06/01/29(b)
         324  300,183
6.63%, 01/15/32(b)
          60  60,000
NCL Corp. Ltd., 5.88%, 03/15/26(b)
         302  294,978
Raising Cane’s Restaurants LLC, 9.38%, 05/01/29(b)
          80  85,217
Viking Cruises Ltd.      
7.00%, 02/15/29(b)
  236  235,897
9.13%, 07/15/31(b)
  108  116,918
      1,678,542
Household Durables — 0.3%
MDC Holdings, Inc., 3.97%, 08/06/61
  360  274,251
NVR, Inc., 3.00%, 05/15/30
  1,930  1,699,853
PulteGroup, Inc.      
5.00%, 01/15/27
  1,630  1,622,741
6.38%, 05/15/33
  890  938,523
Tempur Sealy International, Inc., 3.88%, 10/15/31(b)
  20  16,635
      4,552,003
Household Products — 0.1%
Colgate-Palmolive Co., 3.25%, 08/15/32
  50  44,880
Unilever Capital Corp., 1.75%, 08/12/31
  2,140  1,723,587
      1,768,467
Industrial Conglomerates — 0.4%
3M Co., 2.38%, 08/26/29
  1,330  1,154,878
Trane Technologies Financing Ltd., 3.80%, 03/21/29
  4,610  4,358,665
      5,513,543
Insurance — 0.2%
Marsh & McLennan Cos., Inc.      
5.45%, 03/15/53
  800  796,602
5.70%, 09/15/53
  1,030  1,062,819
Stewart Information Services Corp., 3.60%, 11/15/31
  618  478,833
Willis North America, Inc., 5.90%, 03/05/54
  770  768,207
      3,106,461
IT Services — 0.9%
APX Group, Inc., 5.75%, 07/15/29(b)
  98  93,191
Automatic Data Processing, Inc., 1.70%, 05/15/28
  5,380  4,797,075
CGI, Inc., 2.30%, 09/14/31
  2,370  1,893,622
Security   Par
(000) 		Value
IT Services (continued)
Cogent Communications Group, Inc., 7.00%, 06/15/27(b)
USD          900 $  898,758
Fiserv, Inc.      
5.45%, 03/02/28
         470  474,158
5.60%, 03/02/33
         970  978,668
IBM International Capital Pte Ltd., 5.30%, 02/05/54
       1,540  1,477,904
International Business Machines Corp., 2.20%, 02/09/27
         750  693,640
Mastercard, Inc., 2.00%, 11/18/31
       1,450  1,191,314
Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 01/15/28(b)
         585  577,210
S&P Global, Inc., 5.25%, 09/15/33(b)
         415  419,801
Sabre GLBL, Inc., 11.25%, 12/15/27(b)
         158  148,520
Visa, Inc., 3.65%, 09/15/47
         630  502,639
      14,146,500
Machinery — 0.1%
Allison Transmission, Inc., 5.88%, 06/01/29(b)
         618  608,744
Cummins, Inc., 5.45%, 02/20/54
         470  472,578
Hillenbrand, Inc., 6.25%, 02/15/29
         160  160,022
Ingersoll Rand, Inc.      
5.40%, 08/14/28
         255  257,055
5.70%, 08/14/33
          95  96,616
Wabash National Corp., 4.50%, 10/15/28(b)
         306  279,990
      1,875,005
Media — 0.2%
Cable One, Inc., 4.00%, 11/15/30(b)
         149  112,584
CCO Holdings LLC/CCO Holdings Capital Corp.      
5.13%, 05/01/27(b)
  303  286,385
5.38%, 06/01/29(b)
  312  282,163
6.38%, 09/01/29(b)
  294  276,218
DirecTV Financing LLC, 8.88%, 02/01/30(b)
  60  60,400
DirecTV Financing LLC/DirecTV Financing Co-Obligor Inc., 5.88%, 08/15/27(b)
  943  890,069
Interpublic Group of Cos., Inc. (The), 4.65%, 10/01/28
  500  490,186
Nexstar Media Inc., 4.75%, 11/01/28(b)
  115  102,114
Paramount Global, 4.20%, 05/19/32
  160  130,448
Sirius XM Radio, Inc., 5.50%, 07/01/29(b)
  330  312,066
Univision Communications, Inc., 8.00%, 08/15/28(b)
  170  170,908
Ziggo Bond Co. BV, 5.13%, 02/28/30(b)
  250  213,906
      3,327,447
Metals & Mining — 0.3%
FMG Resources August 2006 Pty Ltd.      
5.88%, 04/15/30(b)
  897  877,879
6.13%, 04/15/32(b)
  417  412,210
Mineral Resources Ltd.      
9.25%, 10/01/28(b)
  80  83,900
8.50%, 05/01/30(b)
  850  872,963
Nufarm Australia Ltd./Nufarm Americas, Inc., 5.00%, 01/27/30(b)
  329  301,716
Reliance, Inc., 2.15%, 08/15/30
  1,680  1,393,922
Steel Dynamics, Inc., 2.40%, 06/15/25
  750  720,532
Taseko Mines Ltd., 7.00%, 02/15/26(b)
  25  24,617
      4,687,739
Oil, Gas & Consumable Fuels — 0.6%
Cheniere Corpus Christi Holdings LLC, 3.70%, 11/15/29
  60  55,332
Cheniere Energy, Inc., 4.63%, 10/15/28
  2,890  2,774,055
Enbridge, Inc., 6.20%, 11/15/30
  75  78,625
EQT Corp., 5.70%, 04/01/28
  65  65,464
 
9
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Oil, Gas & Consumable Fuels (continued)
Global Partners LP/GLP Finance Corp., 8.25%, 01/15/32(b)
USD          160 $  164,112
Hilcorp Energy I LP/Hilcorp Finance Co.      
6.00%, 04/15/30(b)
         306  297,077
8.38%, 11/01/33(b)
         280  300,790
Kodiak Gas Services LLC, 7.25%, 02/15/29(b)
          70  71,265
ONEOK, Inc.      
2.20%, 09/15/25
         370  352,006
5.85%, 01/15/26
       1,000  1,008,886
6.35%, 01/15/31
       1,340  1,403,625
7.15%, 01/15/51
         430  479,879
Prairie Acquiror LP, 9.00%, 08/01/29(b)
         110  110,837
Talos Production, Inc.      
9.00%, 02/01/29(b)
          45  45,993
9.38%, 02/01/31(b)
          60  61,975
Targa Resources Corp., 6.50%, 02/15/53
         590  618,600
Venture Global LNG, Inc.      
8.13%, 06/01/28(b)
          55  55,875
9.50%, 02/01/29(b)
         195  207,912
8.38%, 06/01/31(b)
          50  50,573
9.88%, 02/01/32(b)
         558  587,508
Vermilion Energy, Inc., 6.88%, 05/01/30(b)
         193  186,004
Western Midstream Operating LP, 6.35%, 01/15/29
          35  36,128
      9,012,521
Passenger Airlines — 0.0%
American Airlines, Inc., 8.50%, 05/15/29(b)
  112  117,741
United Airlines, Inc., 4.38%, 04/15/26(b)
  60  57,748
      175,489
Pharmaceuticals — 0.6%
Bausch Health Cos., Inc.      
6.13%, 02/01/27(b)
  494  316,128
11.00%, 09/30/28(b)
  265  178,212
Bristol-Myers Squibb Co., 5.55%, 02/22/54
  255  258,023
Jazz Securities DAC, 4.38%, 01/15/29(b)
  700  644,899
Merck & Co., Inc.      
2.15%, 12/10/31
  1,550  1,283,994
5.00%, 05/17/53
  340  329,524
Novartis Capital Corp., 2.20%, 08/14/30
  3,030  2,605,041
Zoetis, Inc.      
3.00%, 09/12/27
  640  598,486
2.00%, 05/15/30
  2,820  2,366,592
      8,580,899
Real Estate Management & Development — 0.2%
Anywhere Real Estate Group LLC/Anywhere Co-Issuer Corp., 7.00%, 04/15/30(b)
  195  176,709
CBRE Services, Inc.      
4.88%, 03/01/26
  500  494,425
5.95%, 08/15/34
  1,830  1,846,786
Essential Properties LP, 2.95%, 07/15/31
  380  297,676
Howard Hughes Corp. (The), 5.38%, 08/01/28(b)
  320  301,795
      3,117,391
Retail REITs — 0.0%
Realty Income Corp., 4.75%, 02/15/29
  530  518,538
Semiconductors & Semiconductor Equipment — 1.2%
Broadcom, Inc., 3.75%, 02/15/51(b)
  2,660  1,988,679
Intel Corp., 4.88%, 02/10/28
  1,610  1,606,289
Lam Research Corp., 1.90%, 06/15/30
  3,810  3,195,951
Marvell Technology, Inc., 5.95%, 09/15/33
  65  67,138
NVIDIA Corp.      
1.55%, 06/15/28
  600  531,306
Security   Par
(000) 		Value
Semiconductors & Semiconductor Equipment (continued)
NVIDIA Corp.      
2.00%, 06/15/31
USD        4,490 $  3,750,397
3.70%, 04/01/60
       1,580  1,240,704
NXP BV/NXP Funding LLC, 5.55%, 12/01/28
         850  857,531
Texas Instruments, Inc.      
1.90%, 09/15/31
         459  378,882
3.65%, 08/16/32
       3,545  3,257,313
4.90%, 03/14/33
         790  791,037
TSMC Arizona Corp., 3.25%, 10/25/51
         810  611,793
      18,277,020
Software — 0.9%
Adobe, Inc., 2.30%, 02/01/30
       3,570  3,117,808
Cloud Software Group, Inc.      
6.50%, 03/31/29(b)
         312  290,553
9.00%, 09/30/29(b)
         190  177,329
Electronic Arts, Inc., 1.85%, 02/15/31
       1,000  813,907
Intuit, Inc.      
1.35%, 07/15/27
       1,000  892,377
1.65%, 07/15/30
       4,690  3,846,987
5.20%, 09/15/33
         300  303,106
5.50%, 09/15/53
          95  97,705
MicroStrategy, Inc., 6.13%, 06/15/28(b)
         121  116,668
Oracle Corp., 4.10%, 03/25/61
         440  322,779
ServiceNow, Inc., 1.40%, 09/01/30
  3,000  2,406,708
Workday, Inc., 3.80%, 04/01/32
  1,820  1,645,085
      14,031,012
Specialty Retail — 0.3%
Academy Ltd., 6.00%, 11/15/27(b)
  116  114,830
Bath & Body Works, Inc.      
6.95%, 03/01/33
  182  177,181
6.88%, 11/01/35
  303  303,152
Foot Locker, Inc., 4.00%, 10/01/29(b)
  164  138,783
Gap, Inc. (The), 3.63%, 10/01/29(b)
  51  43,079
Home Depot, Inc. (The)      
1.50%, 09/15/28
  1,050  914,797
1.88%, 09/15/31
  1,420  1,150,256
3.35%, 04/15/50
  940  680,424
LCM Investments Holdings II LLC, 8.25%, 08/01/31(b)
  30  30,618
Lowe’s Cos., Inc., 1.70%, 09/15/28
  1,150  999,095
      4,552,215
Technology Hardware, Storage & Peripherals — 0.1%
CDW LLC/CDW Finance Corp., 3.57%, 12/01/31
  226  196,148
EquipmentShare.com, Inc., 9.00%, 05/15/28(b)
  65  66,607
NCR Atleos Corp., 9.50%, 04/01/29(b)
  135  142,802
Seagate HDD Cayman      
8.25%, 12/15/29(b)
  261  279,663
9.63%, 12/01/32
  771  871,307
Western Digital Corp., 4.75%, 02/15/26
  300  293,195
Xerox Holdings Corp., 5.50%, 08/15/28(b)
  344  311,080
      2,160,802
Textiles, Apparel & Luxury Goods — 0.2%
Tapestry, Inc.      
7.35%, 11/27/28
  1,640  1,715,444
7.70%, 11/27/30
  290  307,501
7.85%, 11/27/33
  780  843,762
      2,866,707
 
10
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
Trading Companies & Distributors — 0.0%
Fortress Transportation & Infrastructure Investors LLC, 7.88%, 12/01/30(b)
USD           95 $  99,607
GATX Corp., 3.50%, 06/01/32
         350  302,697
      402,304
Wireless Telecommunication Services — 0.0%
Rogers Communications, Inc., 3.20%, 03/15/27
         350  329,551
Vodafone Group PLC, 7.00%, 04/04/79
         350  358,654
      688,205
Total Corporate Bonds — 17.7%

(Cost: $283,089,309)
278,551,074
    Shares  
Investment Companies(e)
Equity Funds — 2.4%
iShares MSCI India ETF
      88,174    4,510,982
iShares Russell 1000 Value ETF
     192,434  32,956,247
      37,467,229
Total Investment Companies — 2.4%

(Cost: $34,403,607)
37,467,229
Preferred Securities
Preferred Stocks — 0.2%
Banks — 0.0%
Banco Bradesco SA
         100  276
Bancolombia SA
      24,294  197,447
      197,723
Chemicals — 0.1%
Braskem SA(a)
     272,966  1,149,828
Electric Utilities — 0.1%
Cia Energetica de Minas Gerais
     115,268  276,628
Companhia Paranaense de Energia, Class B
     249,670  514,297
Energisa SA
       7,128  12,159
      803,084
Electrical Equipment — 0.0%
Sociedad Quimica y Minera de Chile SA, Class B
      10,206  506,142
Machinery — 0.0%
Marcopolo SA
      58,438  102,508
Randon SA Implementos e Participacoes
      14,162  31,566
      134,074
Metals & Mining — 0.0%
Gerdau SA
  68,717  297,754
Passenger Airlines — 0.0%
Azul SA(a)
  98,461  238,670
Total Preferred Securities — 0.2%

(Cost: $3,603,990)
3,327,275
    Par
(000) 		 
U.S. Government Sponsored Agency Securities
Mortgage-Backed Securities — 8.0%
Fannie Mae Mortgage-Backed Securities      
1.50%, 02/01/37 - 04/01/52
USD        2,232    1,713,857
2.00%, 04/01/37 - 01/01/52
      31,666  25,457,290
2.50%, 06/01/37 - 07/01/51
       7,182  5,970,164
3.00%, 09/01/34 - 04/01/52
       2,000  1,780,302
Security   Par
(000) 		Value
Mortgage-Backed Securities (continued)
Fannie Mae Mortgage-Backed Securities      
4.00%, 11/01/37 - 08/01/52
USD        1,171 $  1,090,727
4.50%, 09/01/52 - 08/01/53
         196  187,688
5.00%, 04/01/53 - 06/01/53
         891  865,143
5.50%, 02/01/53
         464  465,057
6.00%, 07/01/53 - 09/01/53
         506  512,912
6.50%, 11/01/53 - 02/01/54
         538  554,381
Freddie Mac Mortgage-Backed Securities      
1.50%, 03/01/37
         167  143,778
2.00%, 04/01/37
         855  754,756
2.50%, 05/01/37 - 07/01/51
       4,183  3,479,464
3.00%, 07/01/50
          36  30,946
4.00%, 02/01/38 - 02/01/53
         904  836,479
4.50%, 08/01/52 - 08/01/53
          64  60,446
5.00%, 04/01/53
         281  272,336
5.50%, 01/01/53 - 10/01/53
       1,678  1,663,299
6.00%, 08/01/53
         433  440,041
6.50%, 10/01/53 - 02/01/54
         394  401,859
Ginnie Mae Mortgage-Backed Securities      
1.50%, 03/01/54(f)
         100  77,535
2.00%, 10/20/51 - 03/01/54(f)
       5,409  4,402,768
2.50%, 07/20/51 - 03/01/54(f)
      13,960  11,820,451
3.00%, 11/20/46 - 03/01/54(f)
      12,884  11,299,837
3.50%, 03/20/50 - 03/01/54(f)
  7,664  6,941,794
4.00%, 01/20/50 - 03/01/54(f)
  5,763  5,369,302
4.50%, 03/20/49 - 03/01/54(f)
  4,825  4,609,994
5.00%, 04/20/53 - 03/01/54(f)
  3,205  3,129,887
5.50%, 12/20/52 - 03/01/54(f)
  1,482  1,474,343
6.00%, 09/20/53 - 03/01/54(f)
  1,124  1,130,033
6.50%, 11/20/53 - 03/01/54(f)
  760  770,161
Uniform Mortgage-Backed Securities      
1.50%, 03/01/39 - 03/01/54(f)
  2,189  1,736,049
2.00%, 03/01/39(f)
  711  627,353
2.50%, 03/01/39 - 03/01/54(f)
  2,625  2,358,406
3.00%, 03/01/39 - 03/01/54(f)
  3,000  2,736,674
3.50%, 03/01/39 - 03/01/54(f)
  1,775  1,621,317
4.00%, 03/01/39 - 03/01/54(f)
  1,450  1,357,672
4.50%, 03/01/54(f)
  100  94,653
5.00%, 03/01/54(f)
  13,375  12,969,577
5.50%, 03/01/54(f)
  1,200  1,187,007
6.00%, 03/01/54(f)
  1,350  1,355,561
6.50%, 03/01/54(f)
  1,125  1,144,671
  124,895,970
Total U.S. Government Sponsored Agency Securities — 8.0%

(Cost: $133,178,063)
124,895,970
U.S. Treasury Obligations
U.S. Treasury Bonds      
1.13%, 05/15/40
  23,000  14,192,617
2.25%, 05/15/41 - 02/15/52
  46,000  31,306,719
2.38%, 02/15/42
  10,000  7,348,437
4.38%, 08/15/43
  9,100  8,909,469
3.00%, 02/15/47
  5,000  3,906,055
3.38%, 11/15/48
  2,600  2,160,133
U.S. Treasury Notes      
0.25%, 09/30/25
  38,000  35,402,343
2.50%, 03/31/27
  35,000  33,094,141
1.88%, 02/28/29 - 02/15/32
  33,000  28,563,476
 
11
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
(Percentages shown are based on Net Assets)
Security   Par
(000) 		Value
U.S. Treasury Obligations (continued)
U.S. Treasury Notes      
2.38%, 05/15/29
USD       16,000 $  14,594,375
0.63%, 08/15/30
       5,000  3,980,469
Total U.S. Treasury Obligations — 11.7%

(Cost: $211,067,475)
183,458,234
Total Long-Term Investments — 99.1%

(Cost: $1,352,590,564)
1,554,947,595
    Shares  
Short-Term Securities
Money Market Funds — 2.3%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 5.20%(e)(g)
  33,376,064    33,376,064
SL Liquidity Series, LLC, Money Market Series, 5.98%(e)(g)(h)
   1,600,638  1,601,278
  34,977,342
    Par
(000) 		 
U.S. Treasury Obligations(i) — 0.2%
U.S. Treasury Bills, 5.28%, 04/23/24
USD        3,500   3,472,768
Total Short-Term Securities — 2.5%

(Cost: $38,450,382)
38,450,110
Total Investments Before TBA Sale Commitments — 101.6%

(Cost: $1,391,040,946)
1,593,397,705
Security   Par
(000) 		Value
TBA Sale Commitments(f)
Mortgage-Backed Securities — (0.8)%
Uniform Mortgage-Backed Securities      
2.50%, 03/01/39
USD         (500) $   (453,269)
5.00%, 03/01/54
     (11,500)   (11,151,412)
6.00%, 03/01/54
        (450)   (451,877)
6.50%, 03/01/54
        (325)  (330,683)
Total TBA Sale Commitments — (0.8)%

(Proceeds: $(12,409,554))
(12,387,241)
Total Investments Net of TBA Sale Commitments — 100.8%

(Cost: $1,378,631,392)
1,581,010,464
Liabilities in Excess of Other Assets — (0.8)%
(12,219,140)
Net Assets — 100.0%
$  1,568,791,324
(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.
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended February 29, 2024 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
02/29/24 		Shares/
Investment
Value
Held at
02/29/24 		Income
(Expense) 		  Capital
Gain
Distributions
from Underlying
Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class
$  23,714,417 $  9,661,647(a) $  — $  —   $  —   $  33,376,064 33,376,064 $  1,253,123   $  —
iShares MSCI India ETF
 4,331,004  619,991  (1,272,193)  (51,827)    884,007    4,510,982 88,174  8,316    —
iShares Russell 1000 Value ETF
 28,599,541  —  —  —    4,356,706    32,956,247 192,434  495,513    —
SL Liquidity Series, LLC, Money Market Series
 —  1,601,245(a)  —  25    8    1,601,278 1,600,638  2,435(b)    —
        $  (51,802)   $  5,240,721   $  72,444,571   $  1,759,387   $  —
(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.
12
Schedule of Investments (unaudited)  (continued)
February 29, 2024
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        
Euro STOXX 50 Index
310 03/15/24 $  16,397 $  1,081,451
U.S. Treasury Notes (2 Year)
425 06/28/24  87,019  26,914
         1,108,365
Short Contracts        
S&P/Toronto Stock Exchange 60 Index
6 03/14/24  1,141  (55,897)
Mini MSCI EAFE Index
191 03/15/24  21,849  (1,074,015)
Mini MSCI Emerging Markets Index
207 03/15/24  10,524  (171,754)
S&P 500 E-Mini Index
213 03/15/24  54,355  (3,437,739)
U.S. Treasury Long-Term Bonds
265 06/18/24  31,601  (25,575)
U.S. Treasury Notes (10 Year)
221 06/18/24  24,407  7,963
U.S. Ultra Treasury Bonds
384 06/18/24  49,104  (12,999)
U.S. Ultra Treasury Bonds (10 Year)
198 06/18/24  22,606  (52,975)
U.S. Treasury Notes (5 Year)
123 06/28/24  13,149  (1,719)
         (4,824,710)
        $  (3,716,345)
Forward Foreign Currency Exchange Contracts
Currency Purchased Currency Sold Counterparty Settlement
Date 		Unrealized
Appreciation
(Depreciation)
USD 458,359 EUR 419,200 Deutsche Bank AG 03/20/24 $  4,919
USD 449,907 GBP 353,700 Barclays Bank PLC 03/20/24  3,377
USD 670,004 JPY 96,699,400 JPMorgan Chase Bank N.A. 03/21/24  22,869
            $31,165
AUD 22,858,508 USD 15,408,349 BNP Paribas SA 03/20/24  (540,957)
AUD 11,484,213 USD 7,488,970 Goldman Sachs International 03/20/24  (19,529)
AUD 11,484,214 USD 7,488,971 Goldman Sachs International 03/20/24  (19,529)
AUD 23,149,066 USD 15,496,649 HSBC Bank PLC 03/20/24  (440,276)
CAD 20,503,680 USD 15,203,785 HSBC Bank PLC 03/20/24  (91,450)
EUR 26,551,912 USD 29,044,677 Morgan Stanley & Co. International PLC 03/20/24  (324,015)
            $(1,435,756)
  $  (1,404,591)
             
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.N.A.HY.41.V1
5.00%  Quarterly 12/20/28 USD 12,905 $  (947,917)   $  (769,977)   $  (177,940)
CDX.N.A.IG.41.V1
1.00 Quarterly 12/20/28 USD 75,000  (1,697,577)    (997,292)    (700,285)
            $  (2,645,494)   $  (1,767,269)   $  (878,225)
13
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
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%, 5.32% Quarterly MSCI ACWI ESG Universal Index Quarterly BNP Paribas SA 04/03/24 USD 122,421 $  7,157,226   $  —   $  7,157,226
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.
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
$  5,468,276 $  4,010,400 $  — $  9,478,676
Air Freight & Logistics
 58,604  1,233,013  —  1,291,617
Automobile Components
 448,997  328,168  —  777,165
Automobiles
 2,537,228  11,876,430  —  14,413,658
Banks
 18,028,902  49,994,389  —  68,023,291
Beverages
 19,419,077  2,971,071  —  22,390,148
Biotechnology
 12,810,808  2,138,293  —  14,949,101
Broadline Retail
 32,922,859  3,927,925  —  36,850,784
Building Products
 1,905,711  —  —  1,905,711
Capital Markets
 11,948,541  5,645,807  —  17,594,348
Chemicals
 1,827,648  6,113,626  —  7,941,274
Commercial Services & Supplies
 2,116,846  18,912  —  2,135,758
Communications Equipment
 133,048  472,357  —  605,405
Construction & Engineering
 11,717,454  1,707,092  —  13,424,546
Construction Materials
 —  222,420  —  222,420
Consumer Finance
 10,583,897  —  —  10,583,897
Consumer Staples Distribution & Retail
 11,890,087  2,857,317  —  14,747,404
Containers & Packaging
 348,622  —  —  348,622
Diversified Consumer Services
 809,976  —  —  809,976
Diversified Telecommunication Services
 41,140  2,606,578  —  2,647,718
Electric Utilities
 808,542  8,377,070  —  9,185,612
Electrical Equipment
 634,381  9,954,251  —  10,588,632
14
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
Fair Value Hierarchy as of Period End (continued)
  Level 1   Level 2   Level 3   Total
Common Stocks (continued)              
Electronic Equipment, Instruments & Components
$  7,254,805   $  1,703,072   $  —   $  8,957,877
Energy Equipment & Services
 710,429    —    —    710,429
Entertainment
 6,132,065    574,141    —    6,706,206
Financial Services
 26,644,467    2,999,692    —    29,644,159
Food Products
 5,821,961    10,160,786    —    15,982,747
Gas Utilities
 2,054,729    68,206    —    2,122,935
Ground Transportation
 853,412    186,109    —    1,039,521
Health Care Equipment & Supplies
 15,990,717    597,010    —    16,587,727
Health Care Providers & Services
 15,581,415    347,802    —    15,929,217
Health Care Technology
 151,994    —    —    151,994
Hotel & Resort REITs
 202    —    —    202
Hotels, Restaurants & Leisure
 14,858,594    4,750,793    —    19,609,387
Household Durables
 2,229,601    5,828,516    —    8,058,117
Household Products
 15,419,407    —    —    15,419,407
Independent Power and Renewable Electricity Producers
 462,559    470,620    —    933,179
Industrial Conglomerates
 17,393,613    11,198,562    —    28,592,175
Industrial REITs
 819,344    1,165,520    —    1,984,864
Insurance
 11,417,975    10,070,231    —    21,488,206
Interactive Media & Services
 36,964,943    8,105,716    —    45,070,659
IT Services
 9,703,453    235,347    —    9,938,800
Leisure Products
 —    926,492    —    926,492
Life Sciences Tools & Services
 7,334,887    50,094    —    7,384,981
Machinery
 7,158,596    3,425,199    —    10,583,795
Marine Transportation
 —    6,612,660    —    6,612,660
Media
 3,132,824    76,739    —    3,209,563
Metals & Mining
 5,774,139    6,737,144    —    12,511,283
Multi-Utilities
 21,312    4,551,662    —    4,572,974
Oil, Gas & Consumable Fuels
 40,868,558    3,663,924    —    44,532,482
Paper & Forest Products
 26,925    —    —    26,925
Passenger Airlines
 1,796,876    2,151,416    —    3,948,292
Personal Care Products
 654,623    1,730,553    —    2,385,176
Pharmaceuticals
 30,789,329    24,824,554    —    55,613,883
Professional Services
 1,341,003    3,912,363    —    5,253,366
Real Estate Management & Development
 1,522,673    6,959,951    —    8,482,624
Residential REITs
 709,167    —    —    709,167
Retail REITs
 537,417    79,055    —    616,472
Semiconductors & Semiconductor Equipment
 58,663,079    17,446,720    —    76,109,799
Software
 74,535,657    10,054,783    —    84,590,440
Specialized REITs
 1,700,183    —    —    1,700,183
Specialty Retail
 11,973,955    5,453,307    —    17,427,262
Technology Hardware, Storage & Peripherals
 54,951,069    546,770    —    55,497,839
Textiles, Apparel & Luxury Goods
 2,396,898    5,035,072    —    7,431,970
Trading Companies & Distributors
 —    1,297,088    —    1,297,088
Transportation Infrastructure
 794,557    706,239    —    1,500,796
Water Utilities
 —    847,784    —    847,784
Wireless Telecommunication Services
 364,656    3,266,290    —    3,630,946
Corporate Bonds 
 —    278,521,462    29,612    278,551,074
Investment Companies 
 37,467,229    —    —    37,467,229
Preferred Securities               
Preferred Stocks
 2,789,567    537,708    —    3,327,275
U.S. Government Sponsored Agency Securities
 —    124,895,970    —    124,895,970
U.S. Treasury Obligations
 —    183,458,234    —    183,458,234
Short-Term Securities              
Money Market Funds
 33,376,064    —    —    33,376,064
U.S. Treasury Obligations
 —    3,472,768    —    3,472,768
Liabilities              
TBA Sale Commitments
 —    (12,387,241)    —    (12,387,241)
  $  717,607,572   $  861,772,002   $  29,612   1,579,409,186
Investments valued at NAV(a)
            1,601,278
              $  1,581,010,464
15
Schedule of Investments (unaudited)  (continued)
February 29, 2024
BlackRock Sustainable Balanced Fund, Inc.
Fair Value Hierarchy as of Period End (continued)
  Level 1   Level 2   Level 3   Total
Derivative Financial Instruments(b)              
Assets              
Equity Contracts
$  1,081,451   $  7,157,226   $  —   $  8,238,677
Foreign Currency Exchange Contracts
 —    31,165    —    31,165
Interest Rate Contracts
 34,877    —    —    34,877
Liabilities              
Credit Contracts
 —    (878,225)    —     (878,225)
Equity Contracts
 (4,739,405)    —    —     (4,739,405)
Foreign Currency Exchange Contracts
 —    (1,435,756)    —     (1,435,756)
Interest Rate Contracts
 (93,268)    —    —    (93,268)
  $  (3,716,345)   $  4,874,410   $  —   $  1,158,065
(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
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
SOFR Secured Overnight Financing Rate
TBA To-be-Announced
16