Form D · Other Investment Fund

BlackRock Appreciation Strategy Fund, LLC

Seattle, WA · CIK 0001172916

Offering snapshot reported Mar 5, 2026 · SEC filing

Reported sold: $3.58B
Investors reported: 472
Minimum accepted: $0
First sale: Apr 1, 2002

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$4,047,233,015 → $3,581,149,020
Reported investors361 → 472

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Mar 5, 2026	Amendment	$3,581,149,020	-$466,083,995vs Feb 25, 2025	472	SEC filing
Feb 25, 2025	Amendment	$4,047,233,015	$0vs Feb 22, 2024	361	SEC filing
Feb 22, 2024	Amendment	$4,047,233,015	$2,750,000vs Oct 13, 2023	361	SEC filing
Oct 13, 2023	Amendment	$4,044,483,015	$200,000vs Oct 12, 2022	361	SEC filing
Oct 12, 2022	Amendment	$4,044,283,015	$0vs Oct 12, 2021	361	SEC filing
Oct 12, 2021	Amendment	$4,044,283,015	$0vs Oct 9, 2020	361	SEC filing
Oct 9, 2020	Amendment	$4,044,283,015	$1,600,000vs Oct 9, 2019	361	SEC filing
Oct 9, 2019	Amendment	$4,042,683,015	$3,903,198vs Mar 21, 2018	360	SEC filing
Mar 21, 2018	Amendment	$4,038,779,817	$1,000,000vs Nov 21, 2017	358	SEC filing
Nov 21, 2017	Amendment	$4,037,779,817	$8,980,804vs Mar 14, 2017	356	SEC filing
Mar 14, 2017	Amendment	$4,028,799,013	$83,477,484vs Mar 14, 2016	355	SEC filing
Mar 14, 2016	Amendment	$3,945,321,529	$10,456,102vs Mar 12, 2015	348	SEC filing
Mar 12, 2015	Amendment	$3,934,865,427	$39,765,586vs Mar 12, 2014	341	SEC filing
Mar 12, 2014	Amendment	$3,895,099,841	$18,646,406vs Mar 12, 2013	327	SEC filing
Mar 12, 2013	Amendment	$3,876,453,435	$334,945,890vs Mar 12, 2012	316	SEC filing
Mar 12, 2012	Amendment	$3,541,507,545	$23,198,519vs Mar 10, 2011	282	SEC filing
Mar 10, 2011	Amendment	$3,518,309,026	$21,743,850vs Mar 15, 2010	275	SEC filing
Mar 15, 2010	Amendment	$3,496,565,176	$218,236,983vs Mar 16, 2009	265	SEC filing
Mar 16, 2009	Amendment	$3,278,328,193	No comparison	Not reported	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0
Finders' fees: $678K
Form D file number: 021-42905

This is a continuous offering.

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
McCutchen Group	None

Source: Form D, filed Mar 5, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

Each card uses that adviser's latest imported filing. Filing dates can differ; these disclosures do not confirm a current relationship.

Matched by reported Form D file number

BLACKROCK APPRECIATION STRATEGY FUND, LLC

Investment adviser: BLACKROCK FINANCIAL MANAGEMENT, INC

Gross asset value: $16.5M
Beneficial owners: 46
ADV minimum commitment: $5M

Reported in Form ADV on Aug 27, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator MUFG ALTERNATIVE FUND SERVICES (CAYMAN), LTD. GRAND CAYMAN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor DELOITTE & TOUCHE GRAND CAYMAN, Cayman Islands Other funds reporting this name →

Custodian MUFG ALTERNATIVE FUND SERVICES (CAYMAN), LTD. GRAND CAYMAN, Cayman Islands Related to adviser: No Other funds reporting this name →

Custodian THE BANK OF NEW YORK MELLON (INTERNATIONAL) LIMITED LONDON, United Kingdom Related to adviser: No Other funds reporting this name →

Marketer BLACKROCK INVESTMENTS, LLC NEW YORK, New York, United States Related to adviser: Yes Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

DELOITTE & TOUCHE
PCAOB 1096

BLACKROCK INVESTMENTS, LLC
CRD 38642 · SEC 8-48436

Fund asset history · 5 annual observations

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Fiscal year	Gross assets	Beneficial owners	ADV filed
2021	$177,102,455	51	Mar 30, 2022
2022	$182,341,834	46	Mar 30, 2023
2023	$164,735,120	46	Mar 28, 2024
2024	$164,735,120	46	Mar 31, 2025
2025	$164,734,489	46	Mar 31, 2026

Filing source

Form ADV 2128806 · Aug 27, 2026 · Schedule D 7.B.(1), fund 805-4135903062

Reported by BLACKROCK FINANCIAL MANAGEMENT, INC (CRD 107105).

Other-Than Anual Amendment For Registered Adviser.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
David N. Barenborg	Executive
Not Applicable Black Rock Alternative Advisors (Gen Par), Llc	Executive, Promoter
Not Applicable Black Rock Financial Management, Inc.	Executive, Promoter
Norman D. Bontje	Executive
Charles I. Clarvit	Executive
Bart N. Cocales	Executive
Mark Everitt	Executive
Sivan Gamliel	Executive
Dennis Hunter	Director
Albert Matriotti	Executive
J. David Matter	Executive
J. David Matter	Executive
Robert Meschi	Director
Diana Myint	Executive
Shams Orr Hruska	Executive
Brian Schwartz	Executive
Luke Sedler	Executive
Nicholas Sideratos	Executive
Bryan J. Smith	Director
Darren Stainrod	Director
Bryan K. White	Executive
Mark Woolley	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

601 Union Street 56 Th Floor
Seattle, WA, 98101
Phone: 2066136700