JANUARY 28, 2014
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SUMMARY PROSPECTUS
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BlackRock Large Cap Series Funds,
Inc. | Service Shares
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>
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BlackRock Large Cap Growth Fund
Service:
MSLHX
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Before you invest, you may want to
review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus (including
amendments and supplements) and other information about the Fund, including the Fund’s 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 Fund’s 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.
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Not FDIC Insured • May Lose Value • No Bank Guarantee
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Summary Prospectus
Key Facts About BlackRock Large Cap
Growth Fund
Investment Objective
The investment objective of BlackRock Large Cap Growth Fund
(“Growth Fund” or the “Fund”), a series of BlackRock Large Cap Series Funds, Inc., 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 Service Shares of Growth Fund.
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
1
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Service Shares
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Management Fee
1
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0.50%
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Distribution and/or Service (12b-1) Fees
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0.25%
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Other Expenses
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0.48%
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Administration Fee
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0.25%
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Miscellaneous Other Expenses
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0.23%
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Acquired Fund Fees and Expenses
2
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0.01%
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Total Annual Fund Operating Expenses
2
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1.24%
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1
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The fees and expenses shown in the table and the
example that follows include both the expenses of Growth Fund and Growth Fund’s share of the allocated expenses of Master Large Cap Growth
Portfolio (“Master Growth Portfolio” or the “Portfolio”), a series of Master Large Cap Series LLC. Management Fees are paid by
Master Growth Portfolio.
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2
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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 Fund’s most recent annual report which does not include the Acquired Fund
Fees and Expenses.
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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 $10,000 in the Fund for the time periods indicated
and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the
Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would
be:
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1 Year
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3 Years
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5 Years
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10 Years
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Service Shares
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$
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126
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$
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393
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$
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681
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$
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1,500
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Portfolio Turnover:
The Portfolio 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 Portfolio’s performance. During the most recent fiscal year, the Portfolio’s portfolio turnover rate was 54% of the
average value of its portfolio.
2
Principal Investment Strategies of the Fund
Growth Fund seeks to achieve its objective by investing at least
80% of its assets in equity securities, primarily common stock, of large cap companies located in the United States that BlackRock Advisors, LLC
(“BlackRock”) selects from among those that are, at the time of purchase, included in the Fund’s benchmark, the Russell
1000
®
Growth Index. 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 is a “feeder” fund that invests all of its
assets in Master Growth Portfolio, which has the same investment objective and strategies as the Fund. All investments are made at the Portfolio level.
This structure is sometimes called a “master/feeder” structure. The Fund’s investment results will correspond directly to the investment
results of the Portfolio. For simplicity, the prospectus uses the terms “Growth Fund” or “Fund” (as applicable) to include the
Portfolio.
Principal Risks of Investing in the Fund
Risk is inherent in all investing. The value of your investment in
Growth 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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n
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Equity Securities Risk
— Stock markets are
volatile. The price of an equity security fluctuates based on changes in a company’s financial condition and overall market and economic
conditions.
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n
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Investment Style Risk
— Under certain market
conditions, growth investments have performed better during the later stages of economic expansion. Therefore, this investment style 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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n
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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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3
Performance Information
The Service Shares commenced operations on October 2, 2006. Prior
to inception of the Service Share class, the performance shown is based on Growth Fund’s Institutional Shares, which are offered by a separate
prospectus. The returns for the Service Shares, however, are adjusted to reflect the service fees applicable to the Service Shares.
The information shows you how the Fund’s performance has
varied year by year and provides some indication of the risks of investing in the Fund. The table compares the Service Share performance to that of the
Russell 1000
®
Growth 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
Fund’s returns would have been lower. Updated information on the Fund’s 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.
Service Shares
ANNUAL TOTAL RETURNS
1
Growth Fund
As of 12/31
During the ten-year period shown in the bar chart, the highest
return for a quarter was 16.21% (quarter ended March 31, 2012) and the lowest return for a quarter was –19.32% (quarter ended September 30,
2011).
As of 12/31/13
Average Annual
Total Returns
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1 Year
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5 Years
1
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10 Years
1
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BlackRock Large Cap Growth Fund — Service Shares
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Return Before Taxes
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32.98
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%
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17.54
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%
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7.20
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%
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Return After Taxes on Distributions
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31.07
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%
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16.75
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%
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6.79
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%
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Return After Taxes on Distributions and Sale of Shares
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20.11
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%
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14.12
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%
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5.80
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%
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Russell 1000
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Growth Index (Reflects no deduction for fees, expenses or
taxes)
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33.48
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%
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20.39
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%
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7.83
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%
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1
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A portion of the Fund’s total return was
attributable to proceeds received in the fiscal period ended September 30, 2009 in a settlement of litigation.
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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
investor’s 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.
4
Investment Manager
Growth Fund’s investment manager is BlackRock Advisors, LLC
(previously defined as “BlackRock”). The Fund’s 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 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”), or, if you hold your shares through the Fund, you should contact the Fund by phone at (800) 537-4942, 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 Fund’s initial and
subsequent investment minimums for Service Shares generally are as follows, although the Fund may reduce or waive the minimums in some
cases:
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Service Shares
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Minimum Initial Investment
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$5,000.
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Minimum Additional Investment
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No subsequent minimum.
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Tax Information
The Fund’s 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 Fund’s 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
Intermediary’s website for more information.
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INVESTMENT COMPANY ACT FILE #811-09637
© BlackRock Advisors, LLC
SPRO-LCG-SVC-0114
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