JANUARY 28, 2014
SUMMARY PROSPECTUS
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BlackRock Large Cap Series Funds,
Inc. | Investor and Institutional Shares
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BlackRock Large Cap Core Plus Fund
Investor A:
BALPX Investor C: BCLPX Institutional: BILPX
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Before you invest, you may want to
review the Funds prospectus, which contains more information about the Fund and its risks. You can find the Funds prospectus (including
amendments and supplements) and other information about the Fund, including the Funds statement of additional information and shareholder report,
online at http://www.blackrock.com/prospectus. You can also get this information at no cost by calling (800) 441-7762 or by sending an e-mail request
to
prospectus.request@blackrock.com
, or from your financial professional. The Funds prospectus and statement of additional information,
both dated January 28, 2014, as amended and supplemented from time to time, are incorporated by reference into (legally made a part of) this Summary
Prospectus.
This Summary Prospectus contains
information you should know before investing, including information about risks. Please read it before you invest and keep it for future
reference.
The Securities and Exchange
Commission has not approved or disapproved these securities or passed upon the adequacy of this Summary Prospectus. Any representation to the contrary
is a criminal offense.
Not FDIC Insured May Lose Value No Bank Guarantee
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Summary Prospectus
Key Facts About BlackRock Large Cap
Core Plus Fund
Investment Objective
The investment objective of BlackRock Large Cap Core Plus Fund
(Core Plus Fund or the Fund), a series of BlackRock Large Cap Series Funds, Inc. (the Corporation), is to seek
long-term capital growth. In other words, the Fund tries to choose investments that will increase in value.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you
buy and hold shares of Core Plus Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at
least $25,000 in the fund complex advised by BlackRock Advisors, LLC (BlackRock) and its affiliates. More information about these and other
discounts is available from your financial professional or your selected securities dealer, investment adviser, service provider or industry
professional (including BlackRock, The PNC Financial Services Group, Inc. and their respective affiliates) (each a Financial Intermediary)
and in the Details About the Share Classes section on page 34 of the Funds prospectus and in the Purchase of Shares
section on page II-58 of the Funds statement of additional information.
Shareholder Fees
(fees paid
directly from your investment)
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Investor A
Shares
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Investor C
Shares
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Institutional
Shares
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Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)
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5.25
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%
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None
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None
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Maximum Deferred Sales Charge (Load) (as a percentage of offering price or redemption proceeds, whichever is
lower)
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None
1
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1.00
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%
2
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None
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Annual Fund Operating Expenses
(expenses that you pay each year as a
percentage of the value of your investment)
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Investor A
Shares
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Investor C
Shares
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Institutional
Shares
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Management Fee
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1.20
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%
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1.20
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%
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1.20
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%
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Distribution and/or Service (12b-1) Fees
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0.25
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%
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1.00
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%
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None
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Other Expenses
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1.20
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%
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1.26
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%
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1.21
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%
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Interest Expense/Stock Loan Fees
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0.31%
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0.31%
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0.31%
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Dividend Expense on Short Sales
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0.40%
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0.40%
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0.40%
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Miscellaneous Other Expenses
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0.49%
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0.55%
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0.50%
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Acquired Fund Fees and Expenses
3
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0.01
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%
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0.01
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%
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0.01
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%
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Total Annual Fund Operating Expenses
3
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2.66
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%
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3.47
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%
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2.42
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%
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Fee Waivers and/or Expense Reimbursements
4
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(0.29
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)%
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(0.36
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)%
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(0.32
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)%
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Total Annual Fund Operating Expenses After Fee Waivers
and/or Expense
Reimbursements
4
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2.37
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%
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3.11
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%
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2.10
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%
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1
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A contingent deferred sales charge
(CDSC) of 1.00% is assessed on certain redemptions of Investor A Shares made within 18 months after purchase where no initial sales charge
was paid at time of purchase as part of an investment of $1,000,000 or more.
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2
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There is no CDSC on Investor C Shares after one
year.
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3
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The Total Annual Fund Operating Expenses do not
correlate to the ratio of expenses to average net assets given in the Funds most recent annual report which does not include the Acquired Fund
Fees and Expenses.
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4
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As described in the Management of the
Funds section of the Funds prospectus on pages 50-55, BlackRock has contractually agreed to waive and/or reimburse fees and/or expenses in
order to limit Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements (excluding Dividend Expense, Interest Expense,
Acquired Fund Fees and Expenses and certain other Fund expenses) as a percentage of average daily net assets to 1.65% (for Investor A Shares), 2.39%
(for Investor C Shares) and 1.38% (for Institutional Shares) until February 1, 2015. The agreement may be terminated upon 90 days notice by a
majority of the non-interested directors of the Corporation or by a vote of a majority of the outstanding voting securities of Core Plus
Fund.
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2
Example:
This Example is intended to help you compare the cost of investing
in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated
and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the
Funds operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would
be:
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1 Year
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3 Years
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5 Years
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10 Years
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Investor A Shares
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$
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753
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$
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1,282
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$
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1,837
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$
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3,341
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Investor C Shares
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$
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414
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$
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1,032
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$
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1,772
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$
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3,724
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Institutional Shares
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$
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213
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$
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724
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$
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1,262
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$
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2,732
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You would pay the following expenses if you did not redeem your
shares:
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1 Year
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3 Years
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5 Years
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10 Years
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Investor C Shares
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$
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314
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$
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1,032
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$
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1,772
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$
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3,724
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The Fund pays transaction costs, such as commissions, when it buys
and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result
in higher taxes when shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example,
affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 65% of the average value of its
portfolio.
Principal Investment Strategies of the Fund
Core Plus Fund pursues its investment objective by establishing
long and short positions in a diversified portfolio of equity securities issued primarily by large cap companies located in the United States. Equity
securities consist primarily of common stock, preferred stock, securities convertible into common stock and securities or other instruments whose price
is linked to the value of common stock. Large cap companies are companies that at the time of purchase have a market capitalization equal to or greater
than the top 80% of the companies that comprise the Russell 1000
®
Index. As of June 28, 2013, the most recent rebalance date, the
lowest market capitalization in this group was $3.8 billion. The market capitalizations of companies in the index change with market conditions and the
composition of the index.
The Fund will use an investment approach that emphasizes a blend
of both growth and value. Growth companies are those whose earnings growth potential appears to the Fund management team to be greater than the market
in general and whose revenue growth is expected to continue for an extended period. Stocks of growth companies typically pay relatively low dividends
and sell at relatively high valuations. Value companies are those that appear to be undervalued by the market as measured by certain financial
formulas. Under normal circumstances, the Fund seeks to achieve its objective by investing at least 80% of its net assets in equity securities,
primarily common stock, of large cap companies that BlackRock selects from those that are, at the time of purchase, included in the Funds
benchmark, the Russell 1000
®
Index. For this purpose, net assets include assets acquired through the investment of the proceeds of the
short sales or any borrowings or other forms of leverage for investment purposes.
The Fund takes long positions primarily in large cap companies
that BlackRock has identified as attractive and short positions in such securities that BlackRock has identified as overvalued or poised for
underperformance. A long position refers to a security that the Fund holds in its portfolio, while a short position refers to a security the Fund does
not hold but has sold short by delivery of a borrowed security. The Fund will normally hold long positions in equity securities representing up to 130%
of its assets. The Fund will generally hold approximately 30% of its assets in short positions. When the Fund takes a long position, it purchases the
security outright. When the Fund takes a short position, it sells a security that it has borrowed.
3
Principal Risks of Investing in the Fund
Risk is inherent in all investing. The value of your investment in
Core Plus Fund, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time. You may lose
part or all of your investment in the Fund or your investment may not perform as well as other similar investments. The following is a summary
description of principal risks of investing in the Fund.
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Equity Securities Risk
Stock markets are
volatile. The price of an equity security fluctuates based on changes in a companys financial condition and overall market and economic
conditions.
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Investment Style Risk
Under certain market
conditions, growth investments have performed better during the later stages of economic expansion and value investments have performed better during
periods of economic recovery. Therefore, these investment styles may over time go in and out of favor. At times when the investment style used by the
Fund is out of favor, the Fund may underperform other equity funds that use different investment styles.
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Market Risk and Selection Risk
Market risk is
the risk that one or more markets in which the Fund invests will go down in value, including the possibility that the markets will go down sharply and
unpredictably. Selection risk is the risk that the securities selected by Fund management will underperform the markets, the relevant indices or the
securities selected by other funds with similar investment objectives and investment strategies. This means you may lose money.
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Short Sales Risk
Because making short sales
in securities that it does not own exposes the Fund to the risks associated with those securities, such short sales involve speculative exposure risk.
The Fund may incur a loss as a result of a short sale if the price of the security increases between the date of the short sale and the date on which
the Fund replaces the borrowed security.
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Performance Information
The information shows you how Core Plus Funds performance
has varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Funds performance to that of
the Russell 1000
®
Index. As with all such investments, past performance (before and after taxes) is not an indication of future
results. Sales charges are not reflected in the bar chart. If they were, returns would be less than those shown. However, the table includes all
applicable fees and sales charges. If BlackRock and its affiliates had not waived or reimbursed certain Fund expenses during these periods, the
Funds returns would have been lower. Updated information on the Funds performance, including its current net asset value, can be obtained
by visiting http://www.blackrock.com/funds or can be obtained by phone at (800) 882-0052.
Investor A Shares
ANNUAL TOTAL RETURNS
Core Plus
Fund
As of 12/31
During the period shown in the bar chart, the highest return for a
quarter was 14.18% (quarter ended December 31, 2011) and the lowest return for a quarter was 20.63% (quarter ended September 30,
2011).
4
As of 12/31/13
Average Annual Total Returns
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1 Year
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5 Years
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Since
Inception
(December 19, 2007)
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BlackRock Large Cap Core Plus Fund — Investor A
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Return Before Taxes
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25.01%
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13.84%
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4.92%
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Return After Taxes on Distributions
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25.01%
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13.69%
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4.81%
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Return After Taxes on Distributions and Sale of Shares
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14.15%
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11.04%
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3.79%
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BlackRock Large Cap Core Plus Fund — Investor C
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Return Before Taxes
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29.94%
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14.23%
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5.10%
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BlackRock Large Cap Core Plus Fund — Institutional
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Return Before Taxes
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32.30%
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15.37%
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6.17%
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Russell 1000
®
Index
(Reflects no deduction for fees, expenses or taxes)
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33.11%
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18.59%
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6.72%
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After-tax returns are calculated using the historical highest
individual Federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the
investors tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their shares
through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. After-tax returns are shown for Investor A Shares only, and
the after-tax returns for Investor C and Institutional Shares will vary.
Investment Manager
Core Plus Funds investment manager is BlackRock Advisors,
LLC (previously defined as BlackRock). The Funds sub-adviser is BlackRock Investment Management, LLC (the Sub-Adviser).
Where applicable, BlackRock refers also to the Sub-Adviser.
Portfolio Manager
Name
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Portfolio Manager
of the Fund
Since
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Title
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Peter Stournaras, CFA
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2010
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Managing Director of BlackRock, Inc.
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Purchase and Sale of Fund Shares
You may purchase or redeem shares of the Fund each day the New
York Stock Exchange is open. To purchase or sell shares you should contact your Financial Intermediary, or, if you hold your shares through the Fund,
you should contact the Fund by phone at (800) 441-7762, by mail (c/o BlackRock Funds, P.O. Box 9819, Providence, Rhode Island 02940-8019), or by the
Internet at www.blackrock.com/funds. The Funds initial and subsequent investment minimums generally are as follows, although the Fund may reduce
or waive the minimums in some cases:
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Investor A and Investor C
Shares
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Institutional Shares
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Minimum Initial Investment
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$1,000 for all accounts except:
· $250 for
certain fee-based programs.
· $100 for certain employer-sponsored retirement
plans.
· $50, if establishing an Automatic Investment Plan.
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$2 million for institutions and individuals.
Institutional Shares are available to clients of registered
investment advisers who have $250,000 invested in the Fund.
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Minimum Additional Investment
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$50 for all accounts (with the exception of certain employer-sponsored retirement plans which may have a
lower minimum).
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No subsequent minimum.
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5
Tax Information
The Funds dividends and distributions may be subject to
Federal income taxes and may be taxed as ordinary income or capital gains, unless you are a tax-exempt investor or are investing through a retirement
plan, in which case you may be subject to Federal income tax upon withdrawal from such tax deferred arrangements.
Payments to Broker/Dealers and Other Financial
Intermediaries
If you purchase shares of the Fund through a Financial
Intermediary, the Fund and BlackRock Investments, LLC, the Funds distributor, or its affiliates may pay the Financial Intermediary for the sale
of Fund shares and related services. These payments may create a conflict of interest by influencing the Financial Intermediary and your individual
financial professional to recommend the Fund over another investment. Ask your individual financial professional or visit your Financial
Intermediarys website for more information.
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INVESTMENT COMPANY ACT FILE #811-09637
© BlackRock Advisors, LLC
SPRO-LCCP-0114
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