UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-09637

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Large Cap Series Funds, Inc., 50 Hudson Yards, New York, NY 10001

Registrant’s telephone number, including area code: (800) 441-7762

Date of fiscal year end: 05/31/2024

Date of reporting period: 11/30/2023

(a) The Report to Shareholders is attached herewith.

BlackRock Funds^SM

· BlackRock Advantage International Fund

· BlackRock Advantage Large Cap Growth Fund

· BlackRock Advantage Small Cap Core Fund

BlackRock Large Cap Series Funds, Inc.

· BlackRock Advantage Large Cap Core Fund

· BlackRock Advantage Large Cap Value Fund

Table of Contents

Investment Objective

BlackRock Advantage International Fund’s (the “Fund”) investment objective is to provide long-term capital appreciation.

Portfolio Management Commentary

How did the Fund perform?

For the six-month period ended November 30, 2023, all of the Fund’s share classes outperformed its benchmark, the MSCI EAFE ^® Index.

What factors influenced performance?

The Fund’s outperformance was mainly driven by sentiment-related insights, which correctly captured evolving market trends throughout the reporting period. Particularly, an insight looking at informed investor positioning from prime broker reports motivated a successful overweight in the outperforming industrials sector.

Traditional valuation insights also worked well. Measures comparing stocks using sales, earnings yield and research and development expenditures were among the top contributors. These measures helped motivate overweights in domestically oriented Japanese stocks that benefited from an expected policy normalization by the Bank of Japan. Quality measures that sought to avoid companies with histories of expanding their balance sheets through equity issuance led to an overweight in pharmaceutical stocks, which also contributed.

An overweight in the information technology sector, which was motivated by faster-moving macro-related insights, also worked well amid the market rally led by the artificial intelligence (“AI”) theme.

Nontraditional quality measures detracted from performance. Human capital-related insights, such as those comparing companies based on employee sentiment, veteran hiring, and firms whose founders are still in executive positions, lagged. Analyzing companies based on specific key performance indicators also detracted. In addition, environmental related measures—such as those looking at flows into low carbon emissions funds—led to an unsuccessful overweight in consumer discretionary companies.

Certain text-based sentiment measures detracted, as well. Those designed to capture sentiment from company conference calls affected the Fund’s positioning in German consumer discretionary stocks, weighing on results.

Describe recent portfolio activity.

The Fund maintained a balanced allocation of risk across all major performance drivers, while adding several new signals to the existing set of stock selection insights. The Investment adviser developed new AI insights to identify firms that are leading the market in development, deployment, and monetization of AI capabilities. This included capturing hiring trends for skills associated with AI, as well as executive comments highlighting capabilities over the past several years. Additionally, the Investment adviser developed a new insight capturing trends around GLP-1 weight loss drugs to better understand the impact on firms across sectors.

Describe portfolio positioning at period end.

The Fund maintained a largely sector-neutral positioning. It had slight overweights in the industrials and communication services sectors and small underweights in financials and consumer staples.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

Performance

N/A - Not applicable as share class and index do not have a sales charge.

Past performance is not an indication of future results.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.

Expense Example

See “Disclosure of Expenses” for further information on how expenses were calculated.

Portfolio Information

Investment Objective

BlackRock Advantage Large Cap Growth Fund’s (the “Fund”) investment objective is to seek long-term capital appreciation.

Portfolio Management Commentary

How did the Fund perform?

For the six-month period ended November 30, 2023, all of the Fund’s share classes outperformed its benchmark, the Russell 1000^® Growth Index, with the exception of the Investor C shares, which performed in line.

What factors influenced performance?

Fundamental measures contributed to the Fund’s relative performance. Valuation insights, such as those comparing companies based on earnings, sales, and research and development expenditures, were the top contributors. Quality insights looking at company balance sheets and cash flows also contributed. These insights motivated an underweight in industrials, which was additive to results.

Macro-related measures also performed well in the changing market environment. In particular, an insight identifying companies likely to benefit from the emerging artificial intelligence (“AI”) theme resulted in a successful overweight in the information technology sector.

Text-based insights that capture sentiment from broker reports and company conference calls correctly positioned the portfolio in the industrials sector. Faster-moving insights, such as those analyze industry trends from job postings, also contributed positively to performance.

On the other hand, certain sentiment measures underperformed. Insights based on mobile app usage struggled to capture consumer intent trends, incorrectly positioning the portfolio in the consumer staples sector. Measures that seek to measure sentiment in the bond market also lagged in the volatile environment.

Nontraditional quality insights—such as those that strive to assess companies based on green patent and green bond issuance—further detracted. Governance insights, including those evaluating company board independence and shareholder support on proposals, were additional detractors of note.

Describe recent portfolio activity.

The Fund maintained a balanced allocation of risk across all major performance drivers, while adding several new signals to the existing set of stock selection insights. The Investment adviser developed new AI insights to identify firms that are leading the market in development, deployment, and monetization of AI capabilities. This included capturing hiring trends for skills associated with AI, as well as executive comments highlighting capabilities over the past several years. Additionally, the Investment adviser developed a new insight that evaluates trends around GLP-1 weight loss drugs to better understand the impact on firms across sectors.

Describe portfolio positioning at period end.

The Fund maintained a largely sector-neutral positioning. It had slight overweights in the information technology and materials sectors and small underweights in real estate and communication services.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

Performance

N/A - Not applicable as share class and index do not have a sales charge.

Past performance is not an indication of future results.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.

Expense Example

See “Disclosure of Expenses” for further information on how expenses were calculated.

Portfolio Information

Investment Objective

BlackRock Advantage Small Cap Core Fund’s (the “Fund”) investment objective is to seek capital appreciation over the long term.

Portfolio Management Commentary

How did the Fund perform?

For the six-month period ended November 30, 2023, all of the Fund’s share classes outperformed its benchmark, the Russell 2000^® Index.

What factors influenced performance?

Fundamental measures contributed to performance, with valuation insights benefitting from rising interest rates. More traditional measures of valuation, such as comparing stocks using sales, earnings yield, and other financial statement measures, performed best. Contrarian quality-related measures that evaluate the sustainability of companies’ earnings and financial health, including insights that assess debt maturity and dividend consistency, also performed well. This was most observable through an overweight allocation to the outperforming industrials sector.

Macro thematic insights helped the Fund’s results, as well. Measures designed to evaluate business-to-business invoicing helped correctly position the portfolio by motivating a successful overweight in construction stocks.

Sentiment measures produced mixed results in the aggregate. Text-based measures that gauge conference call and broker reports contributed. On the other hand, measures designed to assess consumer intent by analyzing mobile app usage and online search trends led the Fund to hold to an overweight in the underperforming luxury goods industry.

Nontraditional quality insights—such as environmental, social and governance measures—also hurt relative performance. Insights designed to assess company controversies weighed on results by fueling an underweight in the outperforming healthcare sector. A preference for founder-led company management structures also detracted from performance.

Describe recent portfolio activity.

The Fund maintained a balanced allocation of risk across all major performance drivers, while adding several new signals to the existing set of stock selection insights. The Investment adviser built upon its alternative data capabilities by adding an insight that captures brand sentiment in the retail sector. Additionally, given the dynamism of the current environment, the Investment adviser instituted enhanced signal constructs to identify emerging trends, such as sentiment around supply chain disruptions and wage inflation.

Describe portfolio positioning at period end.

The Fund maintained a largely sector-neutral positioning. It had slight overweights in the industrials and communication services sectors and small underweights in financials and materials.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

Performance

N/A - Not applicable as share class and index do not have a sales charge.

Past performance is not an indication of future results.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.

Expense Example

See “Disclosure of Expenses” for further information on how expenses were calculated.

Portfolio Information

Investment Objective

BlackRock Advantage Large Cap Core Fund’s (the “Fund”) investment objective is to seek long-term capital growth. In other words, the Fund tries to choose investments that will increase in value.

Portfolio Management Commentary

How did the Fund perform?

For the six-month period ended November 30, 2023, all of the Fund’s share classes outperformed its benchmark, the Russell 1000^® Index.

What factors influenced performance?

Fundamental measures contributed to performance. Valuation insights, such as those comparing companies based on sales and research and development expenditures, were the top contributors. Contrarian quality insights looking at external financing levels also contributed, as did those that assess companies based on analyst default expectations. These insights motivated a successful underweight in the financials sector.

Macro-related measures also performed well amid the changing market environment. In particular, an insight identifying companies likely to benefit from the emerging artificial intelligence (“AI”) theme resulted in a successful overweight in the information technology sector.

Sentiment measures produced mixed results in the aggregate, but text-based insights that seek to capture sentiment from broker reports contributed. On the other hand, measures designed to assess consumer intent by evaluating mobile app usage detracted by leading to incorrect positioning in the household products industry. Measures intended to capture sentiment from the bond market detracted, as well.

Nontraditional quality insights—such as those that strive to assess companies based on green patent and green bond issuance—also detracted. In addition, insights that evaluate companies based on news controversies hurt performance by leading to an overweight in automobile stocks

Describe recent portfolio activity.

The Fund maintained a balanced allocation of risk across all major performance drivers, while adding several new signals to the existing set of stock selection insights. The Investment adviser developed new AI insights to identify firms that are leading the market in development, deployment, and monetization of AI capabilities. This included capturing hiring trends for skills associated with AI, as well as executive comments highlighting capabilities over the past several years. Additionally, the Investment adviser developed a new insight capturing trends around GLP-1 weight loss drugs to better understand the impact on firms across sectors.

Describe portfolio positioning at period end.

The Fund maintained a largely sector-neutral positioning. It had slight overweights in the consumer discretionary and information technology sectors and small underweights in real estate and utilities.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

Performance

N/A - Not applicable as share class and index do not have a sales charge.

Past performance is not an indication of future results.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.

Expense Example

See “Disclosure of Expenses” for further information on how expenses were calculated.

Portfolio Information

Investment Objective

BlackRock Advantage Large Cap Value Fund’s (the “Fund”) investment objective is to seek long-term capital growth. In other words, the Fund tries to choose investments that will increase in value.

Portfolio Management Commentary

How did the Fund perform?

For the six-month period ended November 30, 2023, all of the Fund’s share classes outperformed its benchmark, the Russell 1000^® Value Index.

What factors influenced performance?

Fundamental measures contributed to the Fund’s relative performance. Valuation insights, such as those comparing companies based on earnings, sales, and research and development expenditures, were the top contributors. Certain contrarian quality insights also worked well during the period. Those that assess companies based on external financing levels and analyst default expectations motivated an overweight in the consumer discretionary sector, which helped Fund performance.

Macro-related measures performed well in the changing market environment. Top-down industry positioning based on company forward valuations versus historical levels led to an overweight in healthcare, contributing to results. An insight that identifies companies likely to benefit from the emerging artificial intelligence (“AI”) theme motivated an overweight in information technology, further contributing to performance.

Sentiment-related insights were net contributors. Text-based insights looking at news controversies worked well in semiconductors, and those evaluating job posting trends drove a successful underweight in utilities. On the other hand, certain sentiment measures lagged. Those that evaluate mobile app usage struggled to capture consumer intent trends, incorrectly positioning the portfolio within the consumer staples sector. Measures that seek to measure sentiment in the bond market also lagged in the volatile environment.

Fundamental quality measures were net detractors. In particular, environmental insights that evaluate companies based on green patents struggled. Insights looking at company dividend forecasts negatively impacted performance, as well.

Describe recent portfolio activity.

The Fund maintained a balanced allocation of risk across all major performance drivers, while adding several new signals to the existing set of stock selection insights. The Investment adviser developed new AI insights to identify firms that are leading the market in development, deployment, and monetization of AI capabilities. This included capturing hiring trends for skills associated with AI, as well as executive comments highlighting capabilities over the past several years. Additionally, the Investment adviser developed a new insight that evaluates trends around GLP-1 weight loss drugs to better understand the impact on firms across sectors.

Describe portfolio positioning at period end.

The Fund maintained a largely sector-neutral positioning. It had slight overweights in the consumer discretionary and healthcare sectors and small underweights in materials and utilities.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

Performance

N/A - Not applicable as share class and index do not have a sales charge.

Past performance is not an indication of future results.

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.

Expense Example

See “Disclosure of Expenses” for further information on how expenses were calculated.

Portfolio Information

About Fund Performance

Institutional and Class K Shares are not subject to any sales charge. These shares bear no ongoing distribution or service fees and are available only to certain eligible investors. BlackRock Advantage International Fund’s, BlackRock Advantage Large Cap Core Fund’s and BlackRock Advantage Large Cap Value Fund’s Class K Shares performance shown prior to the Class K Shares inception date of January 25, 2018 is that of Institutional Shares. BlackRock Advantage Large Cap Growth Fund’s Class K Shares performance shown prior to the Class K Shares inception date of January 25, 2018 is that of Investor A Shares. BlackRock Advantage Small Cap Core Fund’s Class K Shares performance shown prior to the Class K Shares inception date of March 28, 2016 is that of Institutional Shares. The performance of each Fund’s Class K Shares would be substantially similar to Investor A Shares or Institutional Shares, as applicable, because Investor A Shares or Institutional Shares, as applicable, of a Fund invest in the same portfolio of securities and performance would only differ to the extent that Class K Shares and Investor A Shares or Institutional Shares, as applicable, have different expenses. The actual returns of Class K Shares would have been higher than those of Investor A Shares or Institutional Shares, as applicable, because Class K Shares have lower expenses than Investor A Shares and Institutional Shares.

Investor A Shares are subject to a maximum initial sales charge (front-end load) of 5.25% and a service fee of 0.25% per year (but no distribution fee). Certain redemptions of these shares may be subject to a contingent deferred sales charge (“CDSC”) where no initial sales charge was paid at the time of purchase. These shares are generally available through financial intermediaries. On July 6, 2021, BlackRock Advantage Large Cap Growth Fund’s issued and outstanding Service Shares converted into Investor A Shares with the same relative aggregate net asset value (“NAV”).

Investor C Shares are subject to a 1.00% CDSC if redeemed within one year of purchase. In addition, these shares are subject to a distribution fee of 0.75% per year and a service fee of 0.25% per year. These shares are generally available through financial intermediaries. These shares automatically convert to Investor A Shares after approximately eight years.

Class R Shares (available only in BlackRock Advantage International Fund, BlackRock Advantage Large Cap Growth Fund, BlackRock Advantage Large Cap Core Fund and BlackRock Advantage Large Cap Value Fund) are not subject to any sales charge. These shares are subject to a distribution fee of 0.25% per year and a service fee of 0.25% per year. These shares are available only to certain employer-sponsored retirement plans.

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Refer to blackrock.com to obtain performance data current to the most recent month-end. Performance results do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Figures shown in the performance tables assume reinvestment of all distributions, if any, at NAV on the ex-dividend date or payable date, as applicable. Investment return and principal value of shares will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Distributions paid to each class of shares will vary because of the different levels of service, distribution and transfer agency fees applicable to each class, which are deducted from the income available to be paid to shareholders.

BlackRock Advisors, LLC (the “Manager”), each Fund’s investment adviser, has contractually and/or voluntarily agreed to waive and/or reimburse a portion of each Fund’s expenses. Without such waiver(s) and/or reimbursement(s), each Fund’s performance would have been lower. With respect to each Fund’s voluntary waiver(s), if any, the Manager is under no obligation to waive and/or reimburse or to continue waiving and/or reimbursing its fees and such voluntary waiver(s) may be reduced or discontinued at any time. With respect to each Fund’s contractual waiver(s), if any, the Manager is under no obligation to continue waiving and/or reimbursing its fees after the applicable termination date of such agreement. See the Notes to Financial Statements for additional information on waivers and/or reimbursements.

Disclosure of Expenses

Shareholders of each Fund may incur the following charges: (a) transactional expenses, such as sales charges; and (b) operating expenses, including investment advisory fees, administration fees, service and distribution fees, including 12b-1 fees, acquired fund fees and expenses, and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested at the beginning of the period and held through the end of the period) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other mutual funds.

The expense examples provide information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number corresponding to their Fund and share class under the heading entitled “Expenses Paid During the Period.”

The expense examples also provide information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in these Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in shareholder reports of other funds.

The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect transactional expenses, such as sales charges, if any. Therefore, the hypothetical examples are useful in comparing ongoing expenses only and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.

Derivative Financial Instruments

The Funds may invest in various derivative financial instruments. These instruments are used to obtain exposure to a security, commodity, index, market, and/or other assets without owning or taking physical custody of securities, commodities and/or other referenced assets or to manage market, equity, credit, interest rate, foreign currency exchange rate, commodity and/or other risks. Derivative financial instruments may give rise to a form of economic leverage and involve risks, including the imperfect correlation between the value of a derivative financial instrument and the underlying asset, possible default of the counterparty to the transaction or illiquidity of the instrument. Pursuant to Rule 18f-4 under the 1940 Act, among other things, the Fund must either use derivative financial instruments with embedded leverage in a limited manner or comply with an outer limit on fund leverage risk based on value-at-risk. The Funds’ successful use of a derivative financial instrument depends on the investment adviser’s ability to predict pertinent market movements accurately, which cannot be assured. The use of these instruments may result in losses greater than if they had not been used, may limit the amount of appreciation a Fund can realize on an investment and/or may result in lower distributions paid to shareholders. The Funds’ investments in these instruments, if any, are discussed in detail in the Notes to Financial Statements.