BLACKROCK SERIES FUND, INC.
BlackRock Capital Appreciation Portfolio
(the “Fund”)
Supplement dated May 31, 2022 to the Statement of Additional Information (“SAI”) of the Fund, dated April 8, 2022
Effective May 16, 2022, the following changes are made to the Fund’s SAI:
The section entitled “Management, Advisory and Other Service Arrangements — Portfolio Manager Information” is revised as follows:
The sub-section entitled “Other Portfolios and Accounts Managed — Capital Appreciation Portfolio” is deleted in its entirety and replaced with the following:
Capital Appreciation Portfolio
| Number of Other Accounts Managed and Assets by Account Type |
Number of Other Accounts and Assets for Which Advisory Fee is Performance-Based | |||||||||||
| Name of Portfolio Manager |
Other Registered Investment Companies |
Other Investment Vehicles |
Other Accounts |
Other Registered Investment Companies |
Other Investment Vehicles |
Other Accounts | ||||||
| Lawrence Kemp | 12 $41.06 Billion |
3 $3.18 Billion |
0 $0 |
0 $0 |
0 $0 |
0 $0 | ||||||
| Phil Ruvinsky | 14 $45.08 Billion |
3 $4.12 Billion |
0 $0 |
0 $0 |
0 $0 |
0 $0 | ||||||
| Caroline Bottinelli | 0 $0 |
0 $0 |
0 $0 |
0 $0 |
0 $0 |
0 $0 | ||||||
| * | Information provided is as of April 30, 2022. |
The first paragraph of the sub-section entitled “Portfolio Manager Compensation Overview” is amended to add the following:
Information for Ms. Bottinelli with respect to Capital Appreciation Portfolio is as of April 30, 2022.
The sub-section entitled “Discretionary Incentive Compensation” with respect to Messrs. Cooke, Kemp, Ruvinsky, Mathieson and Savi is deleted in its entirety and replaced with the following:
Messrs. Cooke, Kemp, Ruvinsky, Mathieson, Savi and Ms. Bottinelli
Generally, discretionary incentive compensation for Fundamental Equities portfolio managers is based on a formulaic compensation program. BlackRock’s formulaic portfolio manager compensation program is based on team revenue and pre-tax investment performance relative to appropriate competitors or benchmarks over 1-, 3- and 5-year performance periods, as applicable. In most cases, these benchmarks are the same as the benchmark or benchmarks against which the performance of the Portfolio or other accounts managed by the portfolio managers are measured. BlackRock’s Chief Investment Officers determine the benchmarks or rankings against which the performance of funds and other accounts managed by each portfolio management team is
compared and the period of time over which performance is evaluated. With respect to these portfolio managers, such benchmarks for the Portfolios and other accounts are:
| Portfolio Manager |
Portfolios Managed | Applicable Benchmarks | ||
| Lawrence Kemp Phil Ruvinsky Caroline Bottinelli |
Capital Appreciation Portfolio | Russell 1000 Growth Custom Index; Russell 1000 Growth Index; Russell 2500 Growth Index; Russell MidCap Growth Index | ||
| Raffaele Savi Travis Cooke, CFA Richard Mathieson |
Advantage Large Cap Core Portfolio | No benchmarks |
A smaller element of portfolio manager discretionary compensation may include consideration of: financial results, expense control, profit margins, strategic planning and implementation, quality of client service, market share, corporate reputation, capital allocation, compliance and risk control, leadership, technology and innovation. These factors are considered collectively by BlackRock management and the relevant Chief Investment Officers.
The sub-section entitled “Portfolio Ownership” is deleted in its entirety and replaced with the following:
The following table sets forth the dollar range of equity securities of the Portfolios beneficially owned by each portfolio manager as of the fiscal year ended December 31, 2021.
| Portfolio Manager |
Portfolio(s) Managed | Dollar Range of Equity Securities of the Portfolio(s) Owned | ||
| Caroline Bottinelli* | Capital Appreciation Portfolio | None | ||
| David Clayton, CFA, JD |
Global Allocation Portfolio | None | ||
| Travis Cooke, CFA | Advantage Large Cap Core Portfolio | None | ||
| Daniel Felder, CFA | Sustainable Balanced Portfolio | None | ||
| Philip Green | Sustainable Balanced Portfolio | None | ||
| Lawrence Kemp | Capital Appreciation Portfolio | None | ||
| Russ Koesterich, CFA, JD |
Global Allocation Portfolio | None | ||
| Richard Mathieson | Advantage Large Cap Core Portfolio | None | ||
| Michael Pensky, CFA | Sustainable Balanced Portfolio | None | ||
| Rick Rieder | Global Allocation Portfolio | None | ||
| Phil Ruvinsky | Capital Appreciation Portfolio | None | ||
| Raffaele Savi | Advantage Large Cap Core Portfolio | None |
| * | Information provided for Ms. Bottinelli for Capital Appreciation Portfolio is as of April 30, 2022. |
Shareholders should retain this Supplement for future reference.
SAI-SER-CAP-0522SUP
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