0001752724-23-269714.txt : 20231128 0001752724-23-269714.hdr.sgml : 20231128 20231128123904 ACCESSION NUMBER: 0001752724-23-269714 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230930 FILED AS OF DATE: 20231128 DATE AS OF CHANGE: 20231128 PERIOD START: 20231231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK FLOATING RATE INCOME STRATEGIES FUND, INC. CENTRAL INDEX KEY: 0001259708 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21413 FILM NUMBER: 231443823 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 800-441-7762 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKROCK FLOATING RATE INCOME STRATEGIES FUND INC DATE OF NAME CHANGE: 20061020 FORMER COMPANY: FORMER CONFORMED NAME: FLOATING RATE INCOME STRATEGIES FUND INC DATE OF NAME CHANGE: 20030813 NPORT-P 1 primary_doc.xml NPORT-P false 0001259708 XXXXXXXX BlackRock Floating Rate Income Strategies Fund, Inc. 811-21413 0001259708 UZXE8UOGW61VMG5WLP57 100 Bellevue Parkway Wilmington 19809 800-441-7762 BlackRock Floating Rate Income Strategies Fund, Inc. 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LP V0Q3DOB0FIB2XI1KWU77 Calpine Construction Finance Company, L.P. 2023 Refinancing Term Loan B 13134NAH4 1230991.12000000 PA USD 1223519.00000000 0.262868055208 Long LON CORP US N 2 2030-07-31 Variable 7.57000000 N N N N N N STAR PARENT, INC. 2023 TERM LOAN B 254900GRGCJYRMDRWT73 STAR PARENT, INC. 2023 TERM LOAN B 000000000 697000.00000000 PA USD 680641.41000000 0.146233024367 Long LON CORP US N 2 2030-09-19 Floating 9.24000000 N N N N N N SRS Distribution Inc. 549300ZQ3XP75BCYM468 SRS Distribution Inc 2022 Incremental Term Loan 78466YAQ1 982212.42000000 PA USD 971781.32000000 0.208783243804 Long LON CORP US N 2 2028-06-02 Variable 8.92000000 N N N N N N UTZ Quality Foods, LLC 549300K2HU2ISL0R2Q75 UTZ Quality Foods, LLC 2021 Term Loan B 91809EAE1 678064.00000000 PA USD 677107.93000000 0.145473870634 Long LON CORP US N 2 2028-01-20 Variable 8.43000000 N N N N N N WHITE CAP BUYER LLC N/A White Cap Buyer LLC 96350RAA2 250000.00000000 PA USD 220952.66000000 0.047470775711 Long DBT CORP US N 2 2028-10-15 Fixed 6.88000000 N N N N N N Filtration Group Corporation 549300ZA0D9WN5ECE978 Filtration Group Corporation 2021 Incremental Term Loan 31732FAR7 1164240.00000000 PA USD 1158663.29000000 0.248934071055 Long LON CORP US N 2 2028-10-21 Variable 8.93000000 N N N N N N CHG Healthcare Services, Inc. 54930016Y1HPAVB9PZ54 CHG HEALTHCARE SERVICES INC. 12541HAU7 215000.00000000 PA USD 214462.50000000 0.046076391367 Long LON CORP US N 2 2028-09-29 Floating 8.68000000 N N N N N N PAI Holdco, Inc. 2549001NJ55NUV372F56 PAI Holdco Inc 2020 Term Loan B 69315JAG8 1013058.94000000 PA USD 957087.43000000 0.205626321608 Long LON CORP US N 2 2027-10-28 Variable 9.38000000 N N N N N N ZoomInfo LLC 549300XF0FRWD2286I33 ZoomInfo LLC 2023 Term Loan B 25471YAL6 216365.00000000 PA USD 216094.54000000 0.046427028489 Long LON CORP US N 2 2030-02-28 Variable 8.17000000 N N N N N N Magenta Buyer LLC 254900F51KU7HIRXTS68 Magenta Buyer LLC 2021 USD 1st Lien Term Loan 55910RAB9 2401926.15000000 PA USD 1780091.49000000 0.382445379327 Long LON CORP US N 2 2028-07-27 Variable 10.63000000 N N N N N N AqGen Island Holdings, Inc. N/A AqGen Island Holdings Inc Term Loan 03836BAB5 2736404.53000000 PA USD 2703923.41000000 0.580926890566 Long LON CORP US N 2 2028-08-02 Variable 8.93000000 N N N N N N Dun & Bradstreet Corporation (The) RI37BMPWE56BCJ747E14 Dun & Bradstreet Corporation (The) 2023 Term Loan B 26483NAT7 2314484.54000000 PA USD 2309415.82000000 0.496168547665 Long LON CORP US N 2 2026-02-06 Variable 8.17000000 N N N N N N City Football Group Limited 213800K6VVWALRH9UJ69 City Football Group Limited Term Loan 17781XAB2 1571017.50000000 PA USD 1561198.64000000 0.335417145374 Long LON CORP GB N 2 2028-07-21 Variable 8.44000000 N N N N N N Ascend Learning, LLC 549300T466HKRLVCD610 Ascend Learning, LLC 2021 2nd Lien Term Loan 04349HAM6 669149.00000000 PA USD 568495.61000000 0.122138957707 Long LON CORP US N 2 2029-12-10 Variable 11.17000000 N N N N N N Madison IAQ LLC 549300IXDNBXNHUPBU73 Madison IAQ LLC Term Loan 55759VAB4 3682342.04000000 PA USD 3616980.47000000 0.777093467184 Long LON CORP US N 2 2028-06-21 Variable 8.69000000 N N N N N N RealPage, Inc 5493001RSFZX4122A604 RealPage, Inc 1st Lien Term Loan 75605VAD4 6176991.62000000 PA USD 6099779.22000000 1.310512628543 Long LON CORP US N 2 2028-04-24 Variable 8.43000000 N N N N N N Electron BidCo Inc. N/A Electron BidCo Inc 2021 Term Loan 28542CAC3 2174123.52000000 PA USD 2163252.90000000 0.464766041841 Long LON CORP US N 2 2028-11-01 Variable 8.43000000 N N N N N N US Foods, Inc. 5493000JOOFAOUY1JZ87 US Foods Inc 2019 Term Loan B 90351HAD0 638481.60000000 PA USD 637881.43000000 0.137046217474 Long LON CORP US N 2 2026-09-13 Variable 7.43000000 N N N N N N Triton Water Holdings, Inc 5493005IYCEL7QJFZZ63 Triton Water Holdings, Inc Term Loan 89678QAB2 1296948.61000000 PA USD 1262358.99000000 0.271212668275 Long LON CORP US N 2 2028-03-31 Variable 8.90000000 N N N N N N H Food Holdings LLC 549300JY2LK0EQ95YT44 H Food Holdings LLC 2018 Term Loan B 40422KAB7 496073.30000000 PA USD 431033.13000000 0.092605705848 Long LON CORP US N 2 2025-05-23 Floating 9.27000000 N N N N N N Maxeon Solar Technologies Ltd 5493007JPB074ITT6Y72 Maxeon Solar Technologies Ltd 000000000 232.00000000 NS USD 2688.88000000 0.000577694875 Long EC CORP SG N 1 N N N Proofpoint, Inc. 529900C5FODDK0WSR085 Proofpoint Inc 1st Lien Term Loan 74345HAB7 2781534.57000000 PA USD 2755638.48000000 0.592037661936 Long LON CORP US N 2 2028-08-31 Variable 8.68000000 N N N N N N BAUSCH + LOMB CORPORATION 549300NY6OZM39SO6475 BAUSCH + LOMB CORPORATION 000000000 944000.00000000 PA USD 931020.00000000 0.200025840841 Long LON CORP CA N 3 2028-09-14 Floating 8.76000000 N N N N N N Albion Financing 3 SARL 259400QTZA08U7DIP580 Albion Financing 3 SARL USD Term Loan 000000000 1960855.93000000 PA USD 1959640.20000000 0.421020685647 Long LON CORP LU N 2 2026-08-17 Variable 10.86000000 N N N N N N Nordam Group Inc, The 5493002LT07L4NHXC089 Nordam Group Inc, The Term Loan B 65557PAD6 756360.00000000 PA USD 683560.35000000 0.146860146693 Long LON CORP US N 2 2026-04-09 Variable 10.92000000 N N N N N N Fortrea Holdings Inc 5493000FIVFABOVCDU97 Fortrea Holdings Inc Term Loan B 34965PAD8 420945.00000000 PA USD 419189.66000000 0.090061184736 Long LON CORP US N 2 2030-07-01 Variable 9.07000000 N N N N N N SunPower Corp 549300TXO070764WUH65 SunPower Corp 867652406 1860.00000000 NS USD 11476.20000000 0.002465614653 Long EC CORP US N 1 N N N CNT PRNT/CDK GLO II/FIN N/A Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc 154915AA0 191000.00000000 PA USD 190293.27000000 0.040883731110 Long DBT CORP US N 2 2029-06-15 Fixed 8.00000000 N N N N N N Cushman & Wakefield U.S. Borrower LLC 549300870CMN3WI5IF97 Cushman & Wakefield U.S. Borrower, LLC 2023 Term Loan B 23340DAR3 878000.00000000 PA USD 869220.00000000 0.186748363489 Long LON CORP US N 2 2030-01-31 Variable 9.32000000 N N N N N N Ascend Learning, LLC 549300T466HKRLVCD610 Ascend Learning, LLC 2021 Term Loan 04349HAK0 957403.86000000 PA USD 911477.20000000 0.195827150155 Long LON CORP US N 2 2028-12-11 Variable 8.92000000 N N N N N N LSF10 XL Bidco S.C.A. 254900O6UUYRRZZ5I689 LSF10 XL Bidco S.C.A. 2021 EUR Term Loan B4 000000000 853470.44000000 PA 773920.88000000 0.166273737155 Long LON CORP LU N 2 2028-04-12 Floating 8.15000000 N N N N N N Ineos US Finance LLC 5493008MHJ4R367SNK31 Ineos US Finance LLC 2023 USD Term Loan B 000000000 676305.00000000 PA USD 670387.33000000 0.144029977199 Long LON CORP US N 2 2030-02-18 Variable 8.92000000 N N N N N N Gardner Denver, Inc. 549300MJL50HVCB7RP74 Gardner Denver Inc 2020 USD Term Loan B2 365556AT6 357698.00000000 PA USD 357819.62000000 0.076876082533 Long LON CORP US N 2 2027-03-01 Floating 7.17000000 N N N N N N 2023-10-31 BlackRock Floating Rate Income Strategies Fund, Inc. Chuck Pulsfort Chuck Pulsfort Assistant Treasurer XXXX NPORT-EX 2 NPORT_89D9_25841964_0923.htm BlackRock Floating Rate Income Strategies Fund

Schedule of Investments (unaudited)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security         

Par

(000)

    Value  
Asset-Backed Securities  

Golub Capital Partners CLO Ltd., Series 2023-66, Class D, (3-mo. CME Term SOFR + 5.50%), 10.48%, 04/25/36(a)(b)

    USD       1,000     $ 1,000,463  

Palmer Square CLO Ltd., Series 2023-2A, Class D, (3-mo. CME Term SOFR + 5.00%), 6.80%, 04/20/36(a)(b)

      1,000       1,009,265  

Pikes Peak CLO Ltd., Series 2023-14, Class D, (3- mo. CME Term SOFR + 5.45%), 10.64%, 04/20/36(a)(b)

      1,000       1,003,057  

Symphony CLO Ltd., Series 2023-38, Class D, (3- mo. CME Term SOFR + 5.20%), 10.02%, 04/24/36(a)(b)

      1,000       1,013,141  

Whitebox CLO IV Ltd., Series 2023-4A, Class D, (3-mo. CME Term SOFR + 5.15%), 9.93%, 04/20/36(a)(b)

      1,000       1,001,553  
     

 

 

 

Total Asset-Backed Securities — 1.1%
(Cost: $5,000,000)

 

        5,027,479  
     

 

 

 
            Shares         
Common Stocks                  
Construction & Engineering — 0.0%  

McDermott International Ltd.(c)

      123,933       30,983  
     

 

 

 
Electrical Equipment — 0.0%                  

SunPower Corp.(c)

      1,860       11,476  
     

 

 

 
Energy Equipment & Services — 0.0%  

Project Investor Holdings LLC, (Acquired 02/12/19, Cost: $0)(d)(e)

      6,099        
     

 

 

 
Entertainment — 0.0%                  

Learfield Communications LLC, (Acquired 09/06/23, Cost: $232,324)(d)(e)

      6,803       251,711  
     

 

 

 
Financial Services — 0.1%                  

NMG Parent LLC

      3,613       411,882  
     

 

 

 
Oil, Gas & Consumable Fuels — 0.0%  

Kcad Holdings I Ltd.(d)

      309,827,230       3,099  
     

 

 

 
Semiconductors & Semiconductor Equipment — 0.0%        

Maxeon Solar Technologies Ltd.(c)

      232       2,689  
     

 

 

 

Total Common Stocks — 0.1%
(Cost: $5,746,551)

        711,840  
     

 

 

 
           

Par

(000)

        
Corporate Bonds                  
Automobile Components — 0.1%  

Clarios Global LP, 6.75%, 05/15/25(b)

    USD       446       442,642  
     

 

 

 
Building Materials — 0.0%                  

Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(b)

      118       107,143  
     

 

 

 
Building Products — 0.1%                  

White Cap Buyer LLC, 6.88%, 10/15/28(b)

      250       220,953  
     

 

 

 
Security         

Par

(000)

    Value  
Capital Markets — 0.0%  

AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27(b)

    USD       119     $ 119,729  
     

 

 

 
Chemicals(b) — 0.1%                  

Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28

      51       48,167  

WR Grace Holdings LLC, 5.63%, 08/15/29

 

    388       313,795  
     

 

 

 
        361,962  
Commercial Services & Supplies — 0.0%                  

Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 01/15/28(b)

      207       191,717  
     

 

 

 
Construction & Engineering — 0.1%                  

Brand Industrial Services, Inc., 10.38%, 08/01/30

      249       249,383  
     

 

 

 
Construction Materials — 0.0%                  

Wesco Aircraft Holdings, Inc., 9.00%, 11/15/26(b)

      1,013       96,235  
     

 

 

 
Diversified Telecommunication Services — 0.0%              

Zayo Group Holdings, Inc., 6.13%, 03/01/28(b)

      251       161,323  
     

 

 

 
Electric Utilities — 0.0%                  

Texas Competitive Electric Holdings, Series M, 5.03%, 10/10/19(a)(c)(d)(f)

      1,710        
     

 

 

 
Electronic Equipment, Instruments & Components — 0.2%  

Vertiv Group Corp., 4.13%, 11/15/28(b)

      901       791,989  
     

 

 

 
Health Care Providers & Services — 0.1%                  

Medline Borrower LP, 5.25%, 10/01/29(b)

      384       331,890  
     

 

 

 
Hotels, Restaurants & Leisure(b) — 0.2%                  

Caesars Entertainment, Inc., 4.63%, 10/15/29

      390       330,354  

Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 01/15/30

      641       522,479  
     

 

 

 
        852,833  
Insurance — 0.1%                  

Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27(b)

      357       332,014  
     

 

 

 
Internet Software & Services(b) — 0.1%                  

Expedia Group, Inc., 6.25%, 05/01/25

      337       337,554  

Uber Technologies, Inc., 4.50%, 08/15/29

      381       340,560  
     

 

 

 
        678,114  
IT Services — 0.0%                  

Central Parent LLC/CDK Global II LLC/CDK Financing Co, Inc., 8.00%, 06/15/29

      191       190,293  
     

 

 

 
Media(b) — 0.2%                  

Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(g)

      263       77,435  

Odeon Finco PLC, 12.75%, 11/01/27

      607       603,643  

Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 09/15/26

      573       435,288  
     

 

 

 
            1,116,366  
Passenger Airlines — 0.3%                  

Allegiant Travel Co., 8.50%, 02/05/24(b)

      1,195       1,195,000  
     

 

 

 
Real Estate Management & Development — 0.2%              

Anywhere Real Estate Group LLC / Anywhere Co- Issuer Corp., 7.00%, 04/15/30(b)

      727       656,298  
 

 

 

1


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Real Estate Management & Development (continued)  

Cushman & Wakefield U.S. Borrower LLC, 8.88%, 09/01/31

    USD       84     $ 81,270  

Realogy Group LLC/Realogy Co.-Issuer Corp., 5.75%, 01/15/29(b)

      46       33,256  
     

 

 

 
        770,824  
Wireless Telecommunication Services — 0.0%  

VICI Properties LP/VICI Note Co., Inc., 4.63%, 06/15/25(b)

      138       133,265  
     

 

 

 

Total Corporate Bonds — 1.8%
(Cost: $9,829,307)

 

    8,343,675  
     

 

 

 
Fixed Rate Loan Interests                  
Media — 0.2%                  

AVSC Holding Corp., 2020 Term Loan B3, (5.00% Cash and 10.00% PIK), 15.00%, 10/15/26(g)

      964       988,826  
     

 

 

 

Total Fixed Rate Loan Interests — 0.2%
(Cost: $941,640)

 

    988,826  
     

 

 

 
Floating Rate Loan Interests(a)                  
Aerospace & Defense — 4.8%                  

Atlas CC Acquisition Corp.

     

Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.93%, 05/25/28

      2,825       2,627,051  

Term Loan C, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.93%, 05/25/28

      575       534,315  

Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.65%, 10/31/28

      970       970,193  

Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.36%, 08/03/29

      370       367,804  

Dynasty Acquisition Co., Inc., 2023 Term Loan B1, (1-mo. CME Term SOFR + 4.00%), 9.32%, 08/24/28

      3,819       3,807,700  

NORDAM Group, Inc., Term Loan B, (1-mo. CME Term SOFR + 5.60%), 10.92%, 04/09/26

      756       683,560  

Peraton Corp.

     

2nd Lien Term Loan B1, (3-mo. CME Term SOFR at 0.75% Floor + 7.75%), 13.23%, 02/01/29

      1,691       1,651,994  

Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.17%, 02/01/28

      5,639       5,621,863  

Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3-mo. CME Term SOFR + 2.00%), 7.65%, 11/05/28

      1,340       1,338,539  

Standard Aero Ltd., 2023 Term Loan B2, (1-mo. CME Term SOFR + 4.00%), 9.32%, 08/24/28

 

    1,637       1,631,872  

TransDigm, Inc., 2023 Term Loan I, (3-mo. CME Term SOFR + 3.25%), 8.64%, 08/24/28

      2,994       2,993,305  
     

 

 

 
            22,228,196  
Automobile Components — 0.8%                  

Adient U.S. LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.68%, 04/10/28

      664       663,165  
Security          Par
(000)
    Value  
Automobile Components (continued)                  

Clarios Global LP, 2023 Incremental Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.07%, 05/06/30

    USD       2,264     $ 2,256,936  

Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR + 5.00%), 10.48%, 11/17/28

      1,123       950,900  
     

 

 

 
        3,871,001  
Automobiles — 0.6%                  

Dealer Tire Financial LLC, Series B, Term Loan B2, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.82%, 12/14/27

      2,526       2,527,138  
     

 

 

 
Beverages — 1.1%                  

Naked Juice LLC

     

2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.49%, 01/24/30

      1,804       1,456,115  

Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.74%, 01/24/29

      3,865       3,662,776  
     

 

 

 
            5,118,891  
Broadline Retail — 1.8%                  

Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.83%, 11/24/28

      1,695       1,690,509  

Midas Intermediate Holdco II LLC, 2022 PIK Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.85%, 1.50% PIK), 15.17%, 06/30/27(g)

      1,727       1,625,565  

PUG LLC

     

2021 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.68%, 02/12/27(d)

      364       345,420  

USD Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.93%, 02/12/27

      3,756       3,535,934  

Sally Holdings, LLC, 2023 CovLite Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.57%, 02/28/30

      631       630,830  

Woof Holdings, Inc., 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.40%, 12/21/27

      380       299,855  
     

 

 

 
        8,128,113  
Building Products — 1.9%                  

AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.07%, 05/13/29

      261       261,742  

Cornerstone Building Brands, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 04/12/28

      264       256,930  

CP Atlas Buyer, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.17%, 11/23/27

      1,455       1,369,217  

CPG International LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.92%, 04/28/29

      792       791,010  

IPS Corp.

     

2021 2nd Lien Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 7.00%), 12.42%, 10/01/29(d)

      1,046       889,100  

2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.17%, 10/02/28

      592       571,692  

Jeld-Wen, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.68%, 07/28/28

      813       811,805  

 

 

 

 

C H E D U L E    O F   I N V E S T M E N  T S   2


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Building Products (continued)                  

LSF10 XL Bidco SCA, 2021 EUR Term Loan B4, (3-mo. EURIBOR + 4.18%), 8.15%, 04/12/28

    EUR       853     $ 773,921  

Wilsonart LLC, 2021 Term Loan E, (3-mo. CME Term SOFR at 1.00% Floor + 3.25%), 8.74%, 12/31/26

    USD       3,148       3,135,850  
     

 

 

 
        8,861,267  
Capital Markets — 3.4%                  

Ascensus Holdings, Inc.

     

2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.50%), 12.03%, 08/02/29

      2,698       2,551,765  

Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 08/02/28

      2,736       2,703,923  

Axalta Coating Systems U.S. Holdings, Inc., 2023 USD Term Loan B4, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.90%, 12/20/29

      1,349       1,349,642  

Azalea Topco, Inc., Term Loan, (1-mo. CME Term SOFR + 3.50%), 9.18%, 07/24/26

      960       922,224  

Castlelake Aviation Ltd., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.42%, 10/22/26

      1,586       1,582,433  

Castlelake Aviation One DAC, 2023 Incremental Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.42%, 10/22/27

      715       712,813  

Focus Financial Partners LLC

     

2021 Term Loan B4, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 06/30/28

      1,459       1,453,267  

2023 Term Loan B6, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.82%, 06/30/28

      788       786,314  

ION Trading Finance Ltd., 2021 USD Term Loan, (3-mo. CME Term SOFR + 4.75%), 10.24%, 04/03/28

      669       658,300  

Learning Care Group U.S. No. 2, Inc., 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.13%, 08/11/28

      221       220,631  

Osaic Holdings, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.50%), 9.82%, 08/17/28

      1,396       1,393,675  

Press Ganey Holdings, Inc., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.43%, 07/24/26

      1,680       1,617,384  
     

 

 

 
            15,952,371  
Chemicals — 5.4%                  

Aruba Investments Holdings LLC

     

2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 7.75%), 13.17%, 11/24/28

      1,440       1,339,200  

2020 USD Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.42%, 11/24/27

      760       743,461  

Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.32%, 08/27/26

      1,511       1,475,629  

Chemours Co., 2023 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 8.82%, 08/18/28(d)

      1,154       1,139,575  

CPC Acquisition Corp., Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.40%, 12/29/27

      644       530,306  

Discovery Purchaser Corp., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.38%), 9.77%, 10/04/29

      950       913,875  
Security          Par
(000)
    Value  
Chemicals (continued)                  

Element Solutions, Inc., 2019 Term Loan B1, (1-mo. CME Term SOFR + 2.00%), 7.32%, 01/31/26

    USD       1,967     $ 1,962,123  

HB Fuller Co., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.57%, 02/15/30

      292       291,847  

Herens U.S. Holdco Corp., USD Term Loan B, (3-mo. CME Term SOFR + 3.93%), 9.42%, 07/03/28

      1,066       941,799  

Illuminate Buyer LLC, 2021 Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.93%, 06/30/27

      234       232,979  

INEOS U.S. Finance LLC, 2023 USD Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.92%, 02/18/30

      676       670,387  

LSF11 A5 Holdco LLC

     

2023 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.67%, 10/15/28

      291       286,901  

Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.81%, 10/15/28

      1,810       1,765,414  

Messer Industries GmbH, 2018 USD Term Loan, (3-mo. CME Term SOFR + 2.50%), 8.15%, 03/02/26

      2,074       2,071,741  

Momentive Performance Materials Inc., 2023 Term Loan, (1-mo. CME Term SOFR + 4.50%), 9.82%, 03/29/28

      2,034       1,974,455  

Nouryon USA LLC, 2023 USD Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.43%, 04/03/28

      917       903,796  

Olympus Water U.S. Holding Corp.,

     

2023 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.39%, 11/09/28

      677       674,319  

OQ Chemicals Corp., 2017 USD Term Loan B2, (1-mo. CME Term SOFR + 3.60%), 8.93%, 10/14/24

      1,704       1,689,116  

PQ Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.97%, 06/09/28

      1,717       1,708,989  

SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.63%, 03/16/27

      1,044       1,036,836  

Sparta U.S. HoldCo LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.69%, 08/02/28

      1,632       1,623,936  

Starfruit Finco BV, 2018 USD Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.43%, 10/01/25

      94       93,879  

W.R. Grace Holdings LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.40%, 09/22/28

      924       914,693  
     

 

 

 
            24,985,256  
Commercial Services & Supplies — 4.4%                  

Allied Universal Holdco LLC

     

2021 USD Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.17%, 05/12/28

      2,603       2,510,090  

2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.07%, 05/12/28

      335       329,556  

Amentum Government Services Holdings LLC, 2022 Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.33%, 02/15/29

      781       768,912  

Aramark Services, Inc., 2023 Term Loan B6, (1-mo. CME Term SOFR + 2.50%), 7.93%, 06/22/30

      759       757,126  

Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.17%, 09/07/27

      1,952       1,949,076  
 

 

 

3


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Commercial Services & Supplies (continued)  

Clean Harbors, Inc., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.43%, 10/08/28

    USD       692     $ 693,672  

Covanta Holding Corp.

     

2021 Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 11/30/28

      86       85,053  

2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 11/30/28

      1,126       1,118,430  

GFL Environmental, Inc., 2023 First Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.82%, 05/31/27

      728       727,020  

LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.42%, 10/29/28

      1,593       1,586,071  

PECF USS Intermediate Holding III Corp., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.88%, 12/15/28

      800       638,914  

Prime Security Services Borrower LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 2.75%), 8.19%, 09/23/26

      1,913       1,909,573  

Tempo Acquisition LLC, 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.32%, 08/31/28

      4,767       4,767,414  

TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.42%, 11/02/27

      1,639       1,554,574  

Viad Corp., Initial Term Loan, (1-mo. CEM Term SOFR + 5.00%) , 10.43%, 07/30/28

      1,195       1,169,194  
     

 

 

 
        20,564,675  
Communications Equipment — 0.4%                  

Ciena Corp., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.82%, 01/18/30

      212       212,111  

Viasat, Inc.

     

2023 Term Loan, 05/30/30(h)

      846       783,083  

Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.82%, 03/02/29

      1,141       1,056,802  
     

 

 

 
        2,051,996  
Construction & Engineering — 1.3%                  

Brand Industrial Services, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 5.50%), 10.87%, 08/01/30

      3,346       3,255,022  

Legence Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.17%, 12/16/27

      222       221,321  

Pike Corp., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.43%, 01/21/28

      1,045       1,042,532  

USIC Holdings, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.93%, 05/12/28

      1,738       1,707,670  
     

 

 

 
        6,226,545  
Construction Materials — 1.1%                  

American Builders & Contractors Supply Co., Inc., Series A, 2019 Term Loan, (1-mo. CME Term SOFR + 2.00%), 7.42%, 01/15/27

      1,185       1,182,275  

New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.31%, 03/08/29

      840       680,235  
Security          Par
(000)
    Value  
Construction Materials (continued)                  

Oscar AcquisitionCo. LLC, Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.99%, 04/29/29

    USD       1,097     $ 1,087,717  

Quikrete Holdings, Inc., 2023 Term Loan B, 03/19/29(h)

      623       623,062  

Standard Industries, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.94%, 09/22/28

      1,592       1,590,523  
     

 

 

 
            5,163,812  
Consumer Staples Distribution & Retail — 0.3%  

U.S. Foods, Inc.

     

2019 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.43%, 09/13/26

      638       637,882  

2021 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.93%, 11/22/28

      891       891,515  
     

 

 

 
        1,529,397  
Containers & Packaging — 2.0%                  

Charter Next Generation, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.18%, 12/01/27

      3,754       3,716,592  

Mauser Packaging Solutions Holding Co., Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.33%, 08/14/26

      1,259       1,257,272  

Pregis TopCo Corp.

     

1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.07%, 07/31/26

      611       608,956  

2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.18%, 07/31/26

      695       692,509  

Reynolds Consumer Products LLC, Term Loan, (1-mo. CME Term SOFR + 1.75%), 7.17%, 02/04/27 .

      1,412       1,409,508  

Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1-mo. CME Term SOFR + 3.25%), 8.68%, 02/05/26

      233       232,678  

Trident TPI Holdings, Inc., 2021 Term Loan B3, (3-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.65%, 09/15/28

      1,279       1,272,433  
     

 

 

 
        9,189,948  
Distributors — 0.2%                  

PAI Holdco, Inc., 2020 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.38%, 10/28/27

      1,013       957,087  
     

 

 

 
Diversified Consumer Services — 3.0%                  

2U, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 6.50%), 11.95%, 12/28/26

      949       876,952  

Ascend Learning LLC

     

2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.75%), 11.17%, 12/10/29

      669       568,496  

2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.92%, 12/11/28

      957       911,477  

Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.68%, 11/24/28

      921       916,285  

KUEHG Corp., 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.39%, 06/12/30

      1,408       1,408,662  

 

 

 

 

C H E D U L E    O F   I N V E S T M E N  T S   4


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Diversified Consumer Services (continued)  

Sotheby’s

     

Series L, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 10.07%, 01/15/27

    USD       1,766     $ 1,719,853  

Series L, 2023 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 10.07%, 01/15/27

      395       383,973  

Spring Education Group, Inc., Term Loan, 09/29/30(h)

      1,262       1,246,213  

SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.43%, 07/30/25

      223       222,660  

Veritas U.S., Inc., 2021 USD Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 5.00%), 10.43%, 09/01/25

      2,328       2,010,475  

Wand NewCo 3, Inc., 2020 Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.17%, 02/05/26

      2,552       2,545,654  

WCG Purchaser Corp., 2019 Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.00%), 9.43%, 01/08/27

      1,222       1,207,048  
     

 

 

 
            14,017,748  
Diversified REITs — 0.2%                  

RHP Hotel Properties, LP, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.07%, 05/18/30

      827       828,085  
     

 

 

 
Diversified Telecommunication Services — 6.0%  

Altice Financing SA

     

2017 USD Term Loan B, (3-mo. LIBOR US + 2.75%), 8.32%, 07/15/25

      1,076       1,063,382  

USD 2017 1st Lien Term Loan, (3-mo. LIBOR US + 2.75%), 8.32%, 01/31/26

      1,543       1,527,322  

Altice France SA, 2023 USD Term Loan B14, (3-mo. CME Term SOFR + 5.50%), 10.81%, 08/15/28

      1,900       1,715,600  

Cablevision Lightpath LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.70%, 11/30/27

      232       228,468  

Connect Finco SARL, 2021 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.82%, 12/11/26

      6,606       6,462,324  

Consolidated Communications, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.93%, 10/02/27

      808       713,663  

Iridium Satellite LLC, 2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.90%, 09/20/30

      2,576       2,570,225  

Level 3 Financing, Inc., 2019 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.18%, 03/01/27

      1,941       1,830,180  

Lumen Technologies, Inc., 2020 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.68%, 03/15/27

      1,784       1,267,295  

ORBCOMM, Inc., Term Loan B, (1-mo. LIBOR US at 0.75% Floor + 4.25%), 9.80%, 09/01/28

      865       771,827  

Radiate Holdco LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.68%, 09/25/26

      2,541       2,072,398  
Security          Par
(000)
    Value  
Diversified Telecommunication Services (continued)  

Virgin Media Bristol LLC

     

2020 USD Term Loan Q, (1-mo. CME Term SOFR + 3.25%), 8.70%, 01/31/29

    USD       1,335     $ 1,300,704  

USD Term Loan N, (1-mo. CME Term SOFR + 2.50%), 7.95%, 01/31/28

      988       958,697  

Virgin Media SFA Finance Ltd., GBP Term Loan L, (1-mo. SONIA + 3.25%), 8.47%, 01/15/27

    GBP       1,000       1,200,273  

Zayo Group Holdings, Inc., USD Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.43%, 03/09/27

    USD       5,045       4,108,159  
     

 

 

 
            27,790,517  
Electrical Equipment — 0.3%                  

Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.40%, 06/23/28

      1,517       1,505,025  
     

 

 

 
Electronic Equipment, Instruments & Components — 0.3%  

Coherent Corp., 2022 Term Loan B, (1-mo. CEM Term SOFR + 2.75%) , 8.18%, 07/02/29

      1,587       1,580,033  
     

 

 

 
Energy Equipment & Services — 0.1%                  

Lealand Finance Co. BV

     

2020 Make Whole Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.43%, 06/28/24(d)

      40       28,170  

2020 Take Back Term Loan, (1-mo. CME Term SOFR + 4.00%, 3.00% PIK), 12.43%, 06/30/25(g)

      307       163,937  
     

 

 

 
        192,107  
Entertainment — 4.7%                  

AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.45%, 04/22/26

      1,495       1,201,956  

Aristocrat Technologies, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.74%, 05/24/29

      101       101,021  

Cirque Du Soleil Holding USA Newco, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.64%, 03/08/30

      903       896,265  

City Football Group Ltd., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.44%, 07/21/28

      1,571       1,561,199  

Creative Artists Agency LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.82%, 11/27/28

      2,084       2,074,136  

Delta 2 Lux SARL, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.32%, 01/15/30

      1,742       1,740,258  

Equinox Holdings, Inc., 2017 1st Lien Term Loan, (6-mo. LIBOR US at 1.00% Floor + 3.00%), 8.73%, 03/08/24

      3,841       3,709,726  

Live Nation Entertainment, Inc., Term Loan B4, (1- mo. CME Term SOFR + 1.75%), 7.17%, 10/19/26 ..

      2,511       2,503,999  

Playtika Holding Corp., 2021 Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.18%, 03/13/28

      1,492       1,489,405  

SMG U.S. Midco 2, Inc., 2020 Term Loan, (3-mo. CME Term SOFR + 2.50%), 8.13%, 01/23/25

      415       414,685  
 

 

 

5


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Entertainment (continued)                  

UFC Holdings LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 2.75%), 8.37%, 04/29/26

    USD       894     $ 892,130  

William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.18%, 05/18/25

      2,662       2,654,971  

WMG Acquisition Corp., 2021 Term Loan G, (1-mo. CME Term SOFR + 2.13%), 7.56%, 01/20/28

      2,700       2,697,477  
     

 

 

 
            21,937,228  
Financial Services — 4.9%                  

ABG Intermediate Holdings 2 LLC, 2021 Term Loan B1, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.92%, 12/21/28

      1,278       1,274,791  

Belron Finance U.S. LLC

     

2018 Term Loan B, (3-mo. CME Term SOFR + 2.25%), 7.88%, 11/13/25

      431       431,616  

2019 USD Term Loan B3, (3-mo. CME Term SOFR + 2.25%), 7.88%, 10/30/26

      860       857,725  

2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.43%), 8.06%, 04/13/28

      2,974       2,963,305  

Belron Luxembourg SARL, 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.16%, 04/18/29

      470       469,677  

Deerfield Dakota Holding LLC

     

2020 USD Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.75%), 9.14%, 04/09/27

      6,131       5,971,366  

2021 USD 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 6.75%), 12.40%, 04/07/28

      1,806       1,697,640  

FinCo I LLC, 2023 Term Loan, (3-mo. CME Term SOFR + 3.00%), 8.37%, 06/27/29

      613       612,471  

GIP Pilot Acquisition Partners LP, Term Loan, 09/18/30(d)(h)

      301       299,871  

LBM Acquisition LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.18%, 12/17/27

      505       492,212  

Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.67%, 03/24/25

      1,301       1,297,679  

Sotera Health Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.18%, 12/11/26

      2,539       2,512,975  

Travelport Finance SARL, 2023 Consented Term Loan, (3-mo. CME Term SOFR + 8.50%), 13.89%, 05/29/26

      1,476       846,527  

UPC Financing Partnership, 2021 USD Term Loan AX, (1-mo. CME Term SOFR + 2.93%), 8.37%, 01/31/29

      768       755,231  

WEX, Inc., 2021 Term Loan, (1-mo. CME Term SOFR + 2.25%), 7.68%, 03/31/28

      965       965,916  

White Cap Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.07%, 10/19/27

      1,220       1,216,420  
     

 

 

 
        22,665,422  
Food Products — 3.4%                  

8th Avenue Food & Provisions, Inc.

     

2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.18%, 10/01/25

      1,180       1,132,389  
Security          Par
(000)
    Value  
Food Products (continued)                  

8th Avenue Food & Provisions, Inc. (continued)

 

2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.18%, 10/01/25

    USD       1,512     $ 1,450,577  

Chobani LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.93%, 10/25/27

      3,204       3,201,102  

Froneri International Ltd., 2020 USD Term Loan, (1-mo. CME Term SOFR + 2.25%), 7.67%, 01/29/27

      3,524       3,494,233  

H-Food Holdings LLC, 2018 Term Loan B, (3-mo. LIBOR US + 3.69%), 9.27%, 05/23/25

      496       431,033  

Hostess Brands, LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.89%, 06/28/30

      1,016       1,017,457  

Nomad Foods U.S. LLC, Term Loan B4, (6-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.47%, 11/12/29

      1,012       1,011,521  

Sovos Brands Intermediate, Inc., 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.50%), 9.13%, 06/08/28

      2,013       2,010,705  

Triton Water Holdings, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.90%, 03/31/28

      1,294       1,259,139  

UTZ Quality Foods LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.43%, 01/20/28

      678       677,108  
     

 

 

 
            15,685,264  
Ground Transportation — 0.8%                  

AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.18%, 04/06/28

      574       569,255  

Avis Budget Car Rental LLC, 2020 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.18%, 08/06/27

      654       648,817  

SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3-mo. LIBOR US + 5.50%), 10.86%, 08/04/25

      1,160       1,037,657  

Uber Technologies, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.16%, 03/03/30

      1,600       1,598,454  
     

 

 

 
        3,854,183  
Health Care Equipment & Supplies — 2.4%                  

Bausch & Lomb Corp., 2023 Incremental Term Loan, 09/14/28(d)(h)

      944       931,020  

Bausch and Lomb, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.76%, 05/10/27

      2,026       1,966,144  

Chariot Buyer LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.66%, 11/03/28

      2,439       2,398,548  

Femur Buyer, Inc., 1st Lien Term Loan, (3-mo. CME Term SOFR + 4.50%), 10.15%, 03/05/26

      684       635,131  

Insulet Corp., Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.68%, 05/04/28

      759       757,938  

Medline Borrower LP, USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 10/23/28

      4,315       4,300,365  
     

 

 

 
        10,989,146  
Health Care Providers & Services — 2.7%                  

CHG Healthcare Services, Inc.

     

2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 09/29/28

      1,015       1,009,858  

2023 Incremental Term Loan, 09/29/28(h)

      215       214,463  

 

 

 

 

C H E D U L E    O F   I N V E S T M E N  T S   6


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Health Care Providers & Services (continued)  

CNT Holdings I Corp., 2020 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.80%, 11/08/27

    USD       1,823     $ 1,815,620  

Electron BidCo, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 11/01/28

      2,174       2,163,253  

Envision Healthcare Corp., 2022 Second Out Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 4.25%), 9.64%, 03/31/27

      1,170       263,302  

EyeCare Partners LLC

     

2020 Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.18%, 02/18/27

      1,656       1,155,820  

2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.75%), 12.18%, 11/15/29

      581       302,640  

2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.18%, 11/15/28

      531       364,633  

Ingenovis Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.18%, 03/06/28

      1,608       1,531,482  

MED ParentCo LP, 1st Lien Term Loan, (1-mo. CME Term SOFR + 4.25%), 9.68%, 08/31/26

      628       598,322  

Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 7.00%), 12.52%, 11/01/29

      611       545,317  

Option Care Health, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.18%, 10/27/28

      695       696,962  

PetVet Care Centers LLC, 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.92%, 02/14/25

      51       51,241  

Reverb Buyer, Inc., 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.77%, 11/01/28

      905       873,745  

Surgery Center Holdings, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.19%, 08/31/26

      825       825,281  

Vizient, Inc., 2022 Term Loan B7, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.67%, 05/16/29

      334       333,672  
     

 

 

 
            12,745,611  
Health Care Technology — 2.9%                  

AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.57%, 02/15/29

      2,976       2,915,936  

Polaris Newco LLC, USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.43%, 06/02/28

      4,521       4,322,099  

Verscend Holding Corp.

     

2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 7.00%), 12.43%, 04/02/29

      3,092       3,088,135  

2021 Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.43%, 08/27/25

      3,093       3,089,620  
     

 

 

 
        13,415,790  
Hotels, Restaurants & Leisure — 6.2%                  

Alterra Mountain Co., 2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.07%, 05/31/30

      155       154,613  
Security          Par
(000)
    Value  
Hotels, Restaurants & Leisure (continued)                  

Bally’s Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.84%, 10/02/28

    USD       892     $ 872,791  

Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc., 2023 Term Loan B5, (1-mo. CME Term SOFR + 2.25%), 7.57%, 09/23/30

      2,417       2,407,034  

Caesars Entertainment, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.67%, 02/06/30

      1,241       1,239,996  

Carnival Corp., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.33%, 08/08/27

      977       973,884  

Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1-mo. CME Term SOFR + 2.00%), 7.42%, 03/17/28

      1,459       1,456,051  

ECL Entertainment, LLC, 2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.14%, 08/31/30

      804       801,652  

Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.32%, 01/27/29

      4,093       4,046,651  

Flutter Financing BV, 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.90%, 07/22/28

      1,173       1,173,737  

Four Seasons Hotels Ltd., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.92%, 11/30/29

      3,042       3,044,672  

IRB Holding Corp., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.42%, 12/15/27

      2,385       2,373,718  

Packers Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.67%, 03/09/28

      903       532,673  

PENN Entertainment, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.17%, 05/03/29

      1,472       1,468,467  

Playa Resorts Holding BV, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.58%, 01/05/29

      475       475,246  

Scientific Games International, Inc., 2022 USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 04/14/29

      1,087       1,085,709  

SeaWorld Parks & Entertainment, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 08/25/28

      685       682,336  

Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3-mo. CME Term SOFR + 2.25%), 7.90%, 07/21/26

      1,101       1,100,042  

Station Casinos LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 0.25% Floor + 2.25%), 7.67%, 02/08/27

      2,033       2,027,440  

Whatabrands LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 08/03/28

      2,245       2,234,034  

Wyndham Hotels & Resorts, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.67%, 05/24/30

      533       532,632  
     

 

 

 
            28,683,378  
 

 

 

7


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Household Durables — 1.4%                  

ACProducts Holdings, Inc., 2021 Term Loan B, (3- mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.90%, 05/17/28

    USD       1,632     $ 1,341,886  

Hunter Douglas, Inc., USD Term Loan B1, (3-mo. CME Term SOFR + 3.50%), 8.89%, 02/26/29

      2,390       2,323,819  

Serta Simmons Bedding, LLC, 2023 New Term Loan, (3-mo. CME Term SOFR + 7.50%), 12.90%, 06/29/28

      464       461,854  

Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.43%, 10/06/28

      818       694,388  

Weber-Stephen Products LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.68%, 10/30/27

      2,012       1,807,463  
     

 

 

 
            6,629,410  
Household Products — 0.1%                  

Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 6.00%), 11.57%, 12/22/26

      404       403,557  
     

 

 

 
Independent Power and Renewable Electricity Producers — 1.0%  

Calpine Construction Finance Co. LP, 2023 Refinancing Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.57%, 07/31/30

      1,231       1,223,519  

Calpine Corp.

     

2019 Term Loan B10, (1-mo. CME Term SOFR + 2.00%), 7.43%, 08/12/26

      697       696,494  

Term Loan B9, (1-mo. CME Term SOFR + 2.00%), 7.43%, 04/05/26

      1,492       1,490,042  

Constellation Renewables LLC, 2020 Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 2.50%), 8.18%, 12/15/27

      1,184       1,179,344  
     

 

 

 
        4,589,399  
Industrial Conglomerates — 0.2%                  

Stitch Aquisition Corp., Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 6.75%), 12.40%, 07/28/28

      1,078       821,080  
     

 

 

 
Insurance — 5.5%                  

Alliant Holdings Intermediate LLC

     

2021 Term Loan B4, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.93%, 11/05/27

      3,759       3,749,327  

2023 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.83%, 11/05/27

      3,866       3,857,410  

AmWINS Group, Inc.

     

2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 2.25%), 7.68%, 02/19/28

      2,568       2,549,920  

2023 Incremental Term Loan B, (1-mo. CEM Term SOFR + 2.75%) , 8.18%, 02/19/28

      493       492,350  

AssuredPartners, Inc.

     

2020 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.93%, 02/12/27

      1,393       1,389,249  

2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 02/12/27

      873       872,195  

2023 Term Loan B4, 02/12/27(h)

      434       433,731  

Baldwin Risk Partners, LLC, 2021 Term Loan B, (1- mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.94%, 10/14/27

      437       432,243  
Security          Par
(000)
    Value  
Insurance (continued)                  

HUB International Ltd.

     

2022 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.37%, 11/10/29

    USD       464     $ 463,813  

2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.58%, 06/20/30

      4,591       4,599,015  

Jones Deslauriers Insurance Management, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.62%, 03/15/30

      1,137       1,139,137  

Ryan Specialty Group LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.42%, 09/01/27

      1,349       1,347,568  

USI, Inc.

     

2022 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.14%, 11/22/29

      3,211       3,206,170  

2023 Acquisition Term Loan, 09/27/30(h)

      520       518,482  

2023 Refi Term Loan, 09/27/30(h)

      595       593,019  
     

 

 

 
            25,643,629  
Interactive Media & Services — 1.6%                  

Acuris Finance U.S., Inc., 2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.54%, 02/16/28

      428       421,944  

Adevinta ASA, USD Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.32%, 06/26/28

      985       983,834  

Camelot Finance SA, Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.43%, 10/30/26

      1,831       1,828,489  

Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.00%), 8.43%, 10/30/26

      2,198       2,192,162  

GoodRx, Inc., 1st Lien Term Loan, (1-mo. CME Term SOFR + 2.75%), 8.17%, 10/10/25

      714       712,050  

Grab Holdings, Inc., Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 4.50%), 9.93%, 01/29/26

      1,038       1,042,168  
     

 

 

 
        7,180,647  
IT Services — 3.8%                  

Asurion LLC

     

2020 Term Loan B8, (3-mo. CME Term SOFR + 3.25%), 8.68%, 12/23/26

      294       287,165  

2021 2nd Lien Term Loan B3, (1-mo. CME Term SOFR + 5.25%), 10.68%, 01/31/28

      1,117       1,002,875  

2021 Second Lien Term Loan B4, (1-mo. CME Term SOFR + 5.25%), 10.68%, 01/20/29

      1,066       942,834  

2023 Term Loan B11, (1-mo. CME Term SOFR + 4.25%), 9.67%, 08/19/28

      1,660       1,610,574  

Epicor Software Corp., 2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 7.75%), 13.17%, 07/31/28

      2,141       2,143,334  

Gainwell Acquisition Corp., Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.49%, 10/01/27

      3,237       3,153,110  

Go Daddy Operating Co. LLC

     

2021 Term Loan B4, (1-mo. CME Term SOFR + 2.00%), 7.43%, 08/10/27

      727       725,473  

2022 Term Loan B5, (1-mo. CME Term SOFR + 2.50%), 7.82%, 11/09/29

      1,761       1,761,687  

GTCR W Merger Sub LLC, USD Term Loan B, 09/20/30(h)

      1,617       1,615,820  

 

 

 

 

C H E D U L E    O F   I N V E S T M E N  T S   8


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
IT Services (continued)                  

Sedgwick Claims Management Services, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 9.07%, 02/24/28

    USD       3,999     $ 3,988,195  

Venga Finance SARL, 2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.43%, 06/28/29

      644       637,822  
     

 

 

 
        17,868,889  
Leisure Products — 0.4%                  

Fender Musical Instruments Corp., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.42%, 12/01/28

      485       473,273  

Peloton Interactive, Inc., Term Loan, (6-mo. CME Term SOFR at 0.50% Floor + 6.50%), 12.26%, 05/25/27

      342       341,333  

Topgolf Callaway Brands Corp., Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.92%, 03/15/30

      1,145       1,137,847  
     

 

 

 
        1,952,453  
Life Sciences Tools & Services — 2.6%                  

Avantor Funding, Inc., 2021 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.67%, 11/08/27

      1,222       1,220,515  

Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.44%, 02/22/28

      1,579       1,541,048  

Curia Global, Inc., 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.22%, 08/30/26

      140       115,453  

eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.50%), 9.93%, 02/04/27

      1,056       1,035,014  

Fortrea Holdings, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.07%, 07/01/30

      421       419,190  

ICON Luxembourg SARL, LUX Term Loan, (3-mo. CEM Term SOFR + 2.25%) , 7.90%, 07/03/28

      2,112       2,110,770  

Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.32%, 10/19/27

      1,480       1,439,009  

Parexel International Corp., 2021 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 11/15/28

      3,045       3,020,785  

PRA Health Sciences, Inc., US Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.90%, 07/03/28

      526       525,901  

Star Parent, Inc., 2023 Term Loan B, 09/19/30(h)

      697       680,641  
     

 

 

 
            12,108,326  
Machinery — 5.7%                  

Albion Financing 3 SARL, USD Term Loan, (3-mo. CME Term SOFR + 5.25%), 10.86%, 08/17/26

      1,961       1,959,640  

Barnes Group, Inc., Term Loan B, (3-mo. CME Term SOFR + 3.00%), 8.42%, 09/03/30

      444       444,222  

Clark Equipment Co., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.99%, 04/20/29

      264       264,294  

Columbus McKinnon Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.42%, 05/14/28

      362       361,981  
Security         

Par

(000)

    Value  
Machinery (continued)                  

Filtration Group Corp.

     

2021 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.93%, 10/21/28

    USD       1,164     $ 1,158,663  

2023 USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.68%, 10/21/28

      2,359       2,360,319  

Gardner Denver, Inc., 2020 USD Term Loan B2, 03/01/27(h)

      357       356,958  

Gates Global LLC, 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.82%, 03/31/27

      2,400       2,391,956  

Generac Power Systems, Inc., 2019 Term Loan B, 12/13/26(h)

      325       324,051  

Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1-mo. CME Term SOFR + 1.75%), 7.17%, 03/01/27

      532       531,926  

Madison IAQ LLC, Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.69%, 06/21/28

      3,682       3,616,981  

Roper Industrial Products Investment Co., USD Term Loan, (3-mo. CME Term SOFR + 4.50%), 9.89%, 11/22/29

      2,142       2,145,299  

SPX Flow, Inc., 2022 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.92%, 04/05/29

      1,940       1,933,692  

Titan Acquisition Ltd., 2018 Term Loan B, (3-mo. LIBOR US + 3.00%), 8.65%, 03/28/25

      3,844       3,808,296  

Vertical U.S. Newco, Inc., Term Loan B, (6-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.38%, 07/30/27

      2,254       2,247,068  

Vertiv Group Corp., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.19%, 03/02/27

      2,411       2,405,720  

Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.43%, 10/04/28

      125       124,725  
     

 

 

 
            26,435,791  
Media — 3.4%                  

A L Parent LLC, 2023 Take Back Term Loan, (1-mo. CME Term SOFR at 2.00% Floor + 5.50%), 10.83%, 06/30/28

      482       466,143  

AVSC Holding Corp., 2020 Term Loan B1, (1-mo. CME Term SOFR at 1.00% Floor + 3.25%), 8.57%, 03/03/25

      998       958,560  

Cable One, Inc., 2021 Term Loan B4, (1-mo. CME Term SOFR + 2.00%), 7.43%, 05/03/28

      335       332,008  

Charter Communications Operating LLC, Class A, 2019 Term Loan B1, (3-mo. CME Term SOFR + 1.75%), 7.12%, 04/30/25

      2,585       2,585,072  

Clear Channel Outdoor Holdings, Inc., Term Loan B, (1-mo. CME Term SOFR + 3.50%), 9.13%, 08/21/26

      2,224       2,156,412  

CMG Media Corp., 2021 Term Loan, (3-mo. CME Term SOFR + 3.50%), 8.99%, 12/17/26

      (i)       283  

Cogeco Financing 2 LP, 2023 Term Loan B, 09/29/28(h)

      1,584       1,541,424  

CSC Holdings LLC

     

2017 Term Loan B1, (1-mo. LIBOR US + 2.25%), 7.70%, 07/17/25

      657       635,964  

2019 Term Loan B5, (1-mo. CME Term SOFR + 2.50%), 7.95%, 04/15/27

      1,557       1,406,624  

DirecTV Financing LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.43%, 08/02/27

      2,192       2,139,919  
 

 

 

9


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Media (continued)                  

Sinclair Television Group, Inc., 2022 Term Loan B4, (1-mo. CME Term SOFR + 3.75%), 9.17%, 04/21/29

    USD       1,799     $ 1,246,863  

Voyage Digital Ltd., USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.63%, 05/11/29(d)

      955       952,887  

Ziggo Financing Partnership, USD Term Loan I, (1-mo. CME Term SOFR + 2.50%), 7.95%, 04/30/28

      1,617       1,577,917  
     

 

 

 
            16,000,076  
Oil, Gas & Consumable Fuels — 2.0%                  

Freeport LNG Investments LLLP, Term Loan B, (3-mo. CME Term SOFR + 3.50%), 9.09%, 12/21/28 .

      3,662       3,623,972  

M6 ETX Holdings II Midco LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.92%, 09/19/29

      264       263,339  

Medallion Midland Acquisition LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.40%, 10/18/28

      1,910       1,909,844  

Murphy USA, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 1.75%), 7.19%, 01/31/28

      634       635,190  

Oryx Midstream Services Permian Basin LLC, 2023 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.69%, 10/05/28

      3,069       3,064,338  
     

 

 

 
        9,496,683  
Passenger Airlines — 2.7%                  

AAdvantage Loyalty IP Ltd., Series AA, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.34%, 04/20/28

      1,554       1,599,007  

Air Canada, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.50%), 9.13%, 08/11/28

      2,022       2,021,482  

American Airlines, Inc.

     

Series AA, 2017 1st Lien Term Loan, (3-mo. CME Term SOFR + 1.75%), 7.32%, 01/29/27

      273       268,415  

Series AA, 2023 Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.54%, 02/15/28

      2,391       2,371,293  

Kestrel Bidco, Inc., Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.00%), 8.42%, 12/11/26

      820       801,314  

Mileage Plus Holdings LLC, 2020 Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 5.25%), 10.80%, 06/21/27

      2,419       2,509,991  

United Airlines, Inc., Series AA, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.18%, 04/21/28

      2,913       2,913,850  
     

 

 

 
        12,485,352  
Personal Care Products — 1.3%                  

Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.24%, 10/01/26

      6,013       6,000,023  
     

 

 

 
Pharmaceuticals — 2.2%                  

Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.93%, 05/04/25

      1,204       1,180,028  

Amynta Agency Borrower, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 5.00%), 10.42%, 02/28/28

      853       851,558  

Bausch Health Cos., Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.67%, 02/01/27

      1,094       887,094  
Security          Par
(000)
    Value  
Pharmaceuticals (continued)                  

Elanco Animal Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.18%, 08/01/27

    USD       1,458     $ 1,428,394  

Jazz Financing Lux SARL, USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 05/05/28

      2,169       2,166,599  

Organon & Co., USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.44%, 06/02/28

      1,404       1,400,094  

Perrigo Investments LLC, Term Loan B, 04/20/29(h)

      933       928,265  

Precision Medicine Group LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.49%, 11/18/27(d)

      1,224       1,207,664  

Prestige Brands, Inc., 2021 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.43%, 07/03/28

      128       128,235  
     

 

 

 
            10,177,931  
Professional Services — 4.5%                  

AlixPartners LLP, 2021 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.18%, 02/04/28

      1,983       1,979,594  

ASGN, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.57%, 08/30/30

      398       398,995  

CoreLogic, Inc.

     

2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.50%), 11.93%, 06/04/29

      1,416       1,186,656  

Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 06/02/28

      3,348       3,087,070  

Dun & Bradstreet Corp.

     

2022 Incremental Term Loan B2, (1-mo. CME Term SOFR + 3.00%), 8.32%, 01/18/29

      706       704,126  

2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.17%, 02/06/26

      2,314       2,309,416  

Element Materials Technology Group U.S. Holdings, Inc.

     

2022 USD Delayed Draw Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.74%, 07/06/29

      604       595,246  

2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.74%, 07/06/29

      1,308       1,289,699  

Fleetcor Technologies Operating Co. LLC, Series C, 2021 Term Loan B4, (1-mo. CME Term SOFR + 1.75%), 7.17%, 04/28/28

      2,028       2,019,542  

Galaxy U.S. Opco, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 10.07%, 04/29/29

      1,823       1,733,796  

Trans Union LLC

     

2019 Term Loan B5, (1-mo. CME Term SOFR + 1.75%), 7.17%, 11/16/26

      1,837       1,834,358  

2021 Term Loan B6, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.68%, 12/01/28

      2,163       2,160,477  

VS Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.67%, 02/28/27

      1,647       1,638,800  
     

 

 

 
        20,937,775  
Real Estate Management & Development — 0.5%  

Cushman & Wakefield U.S. Borrower LLC 2020 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.18%, 08/21/25

      92       91,581  

 

 

 

 

C H E D U L E    O F   I N V E S T M E N  T S  

10

 


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Real Estate Management & Development (continued)  

Cushman & Wakefield U.S. Borrower LLC (continued)

 

2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.67%, 01/31/30

    USD       1,516     $ 1,488,679  

2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.32%, 01/31/30

      878       869,220  
     

 

 

 
        2,449,480  
Semiconductors & Semiconductor Equipment — 0.4%  

MKS Instruments, Inc.

     

2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.17%, 08/17/29

      1,149       1,146,551  

2023 Term Loan B, 10/03/30(h)

      202       201,668  

Synaptics, Inc., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.91%, 12/02/28

      621       617,306  
     

 

 

 
            1,965,525  
Software — 13.3%                  

Applied Systems, Inc., 2022 Extended 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.89%, 09/18/26

      979       980,622  

Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.87%, 08/15/29

      995       983,604  

Boxer Parent Co., Inc., 2021 USD Term Loan, (1-mo. CME Term SOFR + 3.75%), 9.18%, 10/02/25

      1,161       1,159,318  

CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.68%, 09/21/28

      1,670       1,664,337  

Central Parent, Inc., 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.64%, 07/06/29

      1,373       1,371,886  

Cloud Software Group, Inc., 2022 USD Term Loan B, (3-mo. CEM Term SOFR + 4.50%) , 9.99%, 03/30/29

      4,518       4,338,512  

Cloudera, Inc.

     

2021 Second Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.42%, 10/08/29

      780       737,100  

2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.17%, 10/08/28(d)

      859       842,179  

Cornerstone OnDemand, Inc., 2021 Term Loan, (3- mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.18%, 10/16/28

      1,002       950,389  

Delta TopCo, Inc., 2020 2nd Lien Term Loan, (6-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.57%, 12/01/28(d)

      385       367,675  

E2open LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 02/04/28

      282       281,645  

Genesys Cloud Services Holdings II LLC, 2020 USD Term Loan B4, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.43%, 12/01/27

      3,258       3,258,272  

Helios Software Holdings, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.74%, 07/18/30

      1,299       1,291,531  

Informatica LLC, 2021 USD Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.18%, 10/27/28

      3,046       3,032,628  
Security          Par
(000)
    Value  
Software (continued)                  

Instructure Holdings, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.68%, 10/30/28

    USD       724     $ 721,716  

Magenta Buyer LLC

     

2021 USD 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.63%, 07/27/28

      2,402       1,780,092  

2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 8.25%), 13.88%, 07/27/29

      2,204       1,013,704  

McAfee Corp., 2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.18%, 03/01/29

      3,449       3,364,173  

MH Sub I LLC

     

2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 6.25%), 11.57%, 02/23/29

      2,021       1,785,544  

2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.57%, 05/03/28

      6,426       6,207,642  

NortonLifeLock, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.42%, 09/12/29

      1,622       1,615,785  

Planview Parent, Inc., 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.74%, 12/18/28

      930       841,650  

Proofpoint, Inc.

     

1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.68%, 08/31/28

      2,782       2,755,638  

2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.25%), 11.68%, 08/31/29

      1,451       1,452,364  

RealPage, Inc.

     

1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.43%, 04/24/28

      6,177       6,099,779  

2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.50%), 11.93%, 04/23/29

      2,965       2,968,859  

Severin Acquisition LLC, 2018 Term Loan B, (3-mo. CME Term SOFR + 3.00%), 8.37%, 08/01/25

      1,488       1,484,991  

Sophia LP

     

2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 8.00%), 13.42%, 10/09/28(d)

      2,779       2,772,053  

2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.92%, 10/07/27

      2,286       2,279,167  

UKG, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.62%, 05/03/27

      1,402       1,398,531  

Ultimate Software Group, Inc., Term Loan B, (3-mo. CME Term SOFR + 3.75%), 9.22%, 05/04/26

      1,624       1,621,418  

Voyage Australia Pty. Ltd., USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.09%, 07/20/28

      235       232,330  

ZoomInfo LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 8.17%, 02/28/30

      216       216,095  
     

 

 

 
            61,871,229  
Specialty Retail — 2.5%                  

CD&R Firefly Bidco Ltd., 2023 GBP Term Loan B5, (3-mo. SONIA + 6.00%), 11.04%, 06/21/28

    GBP       1,000       1,188,987  

EG America LLC, 2018 USD Term Loan, (1-mo. SOFR + 4.00%), 9.41%, 02/07/25

    USD       1,320       1,296,585  
 

 

 

11


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security          Par
(000)
    Value  
Specialty Retail (continued)                  

EG Group Ltd., 2021 Term Loan, (1-mo. CME Term SOFR + 4.25%), 9.73%, 03/31/26

    USD       521     $ 520,491  

Mavis Tire Express Services Corp., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.43%, 05/04/28

      2,972       2,961,200  

PetSmart, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.17%, 02/11/28

      3,654       3,639,195  

Pilot Travel Centers LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.42%, 08/04/28

      1,134       1,131,376  

Restoration Hardware, Inc., 2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.67%, 10/20/28

      859       825,489  

RVR Dealership Holdings LLC, Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.25%, 02/08/28(d)

      242       214,850  
     

 

 

 
            11,778,173  
Technology Hardware, Storage & Peripherals — 0.1%  

Electronics for Imaging, Inc., Term Loan, (1-mo. CME Term SOFR + 5.00%), 10.42%, 07/23/26

      795       524,468  
     

 

 

 
Textiles, Apparel & Luxury Goods — 0.3%                  

Crocs, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.53%, 02/20/29

      894       895,309  

Hanesbrands, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.07%, 03/08/30(d)

      518       506,731  
     

 

 

 
        1,402,040  
Trading Companies & Distributors — 2.6%  

Beacon Roofing Supply, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.68%, 05/19/28

      1,364       1,362,796  

Core & Main LP, 2021 Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.84%, 07/27/28

      4,068       4,055,559  

SRS Distribution, Inc.

     

2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.93%, 06/02/28

      2,751       2,719,640  

2022 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.92%, 06/02/28

      982       971,781  

TMK Hawk Parent Corp.(d)

     

2020 Super Priority First Out Term Loan A, (3-mo. CME Term SOFR + 9.50%), 15.17%, 05/30/24

      965       955,505  

2020 Super Priority Second Out Term Loan B, (3-mo. CME Term SOFR + 3.50%), 9.17%, 08/28/24

      3,026       1,936,576  
     

 

 

 
        12,001,857  
Transportation Infrastructure — 0.6%                  

Apple Bidco LLC, 2022 Incremental Term Loan, (1- mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.32%, 09/22/28

      741       740,028  

KKR Apple Bidco LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.18%, 09/22/28

      1,159       1,149,989  

OLA Netherlands BV, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.25%), 11.57%, 12/15/26(d)

      842       833,239  

Rand Parent LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.64%, 03/17/30

      245       236,918  
     

 

 

 
        2,960,174  
Security         

Par

(000)

    Value  
Wireless Telecommunication Services — 1.1%  

Digicel International, 2017 Term Loan B1, 05/27/24(h).

    USD       36     $ 31,792  

Digicel International Finance Ltd., 2017 Term Loan B, (3-mo. LIBOR US + 3.25%), 8.90%, 05/28/24

      817       733,558  

GOGO Intermediate Holdings LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.18%, 04/30/28

      932       928,969  

SBA Senior Finance II LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.17%, 04/11/25

      3,316       3,312,986  
     

 

 

 
        5,007,305  
     

 

 

 

Total Floating Rate Loan Interests — 127.2%
(Cost: $604,492,380)

 

        591,936,502  
     

 

 

 
            Shares         

Investment Companies

     
Equity Funds — 0.1%                  

Janus Henderson AAA CLO ETF

      10,000       503,300  
     

 

 

 
Fixed Income Funds — 1.7%                  

Invesco Senior Loan ETF

      119,300       2,504,107  

iShares 0-5 Year High Yield Corporate Bond ETF(j)

      5,000       205,150  

iShares iBoxx $ High Yield Corporate Bond ETF(j)

      70,000       5,160,400  
     

 

 

 
        7,869,657  
     

 

 

 

Total Investment Companies — 1.8%
(Cost: $8,538,243)

 

      8,372,957  
     

 

 

 
           

Benefical

Interest (000)

        

Other Interests

     
Capital Markets — 0.0%                  

Millennium Lender Claim Trust(d)(k)

    USD       1,607        
     

 

 

 
Industrial Conglomerates — 0.0%                  

Millennium Corp. Claim(d)(k)

      1,508        
     

 

 

 

Total Other Interests — 0.0%
(Cost: $ — )

         
     

 

 

 
            Shares         

Warrants

     
Consumer Discretionary — 0.0%                  

Service King (Carnelian Point), (Exercisable 01/14/23, 1 Share for 1 Warrant, Expires 06/30/27, Strike Price USD 10.00)(c)

      1,895        
     

 

 

 

 

 

 

 

C H E D U L E    O F   I N V E S T M E N  T S   12


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Oil, Gas & Consumable Fuels — 0.0%        

California Resources Corp., (Issued/Exercisable 11/03/20, 1 Share for 1 Warrant, Expires 10/27/24, Strike Price USD 36.00)(c)

    999     $ 21,289  
   

 

 

 

Total Warrants — 0.0%
(Cost: $ — )

 

    21,289  
   

 

 

 

Total Investments — 132.2%
(Cost: $634,548,121)

 

    615,402,568  

Liabilities in Excess of Other Assets — (32.2)%

 

    (149,908,456
   

 

 

 

Net Assets — 100.0%

 

  $ 465,494,112  
   

 

 

 

 

(a) 

Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(b) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(c)

Non-income producing security.

 

(d)

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(e)

Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $251,711, representing 0.1% of its net assets as of period end, and an original cost of $232,324.

(f)

Issuer filed for bankruptcy and/or is in default.

(g)

Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

(h)

Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.

(i)

Rounds to less than 1,000.

(j)

Affiliate of the Fund.

(k)

Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

 

 

For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended September 30, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer   Value at
12/31/22
    Purchases
at Cost
    Proceeds
from Sales
    Net
Realized
Gain (Loss)
    Change in
Unrealized
Appreciation
(Depreciation)
    Value at
09/30/23
    Shares
Held at
09/30/23
    Income     Capital Gain
Distributions
from
Underlying
Funds
 

BlackRock Liquidity Funds, T-Fund, Institutional Class(a)

  $     $ 30,133,093     $ (30,133,093   $     $     $           $ 8,914     $  

iShares 0-5 Year High Yield Corporate Bond ETF

          204,381                   769       205,150       5,000       2,192        

iShares iBoxx $ High Yield Corporate Bond ETF

    736,300       7,972,560       (3,380,993     (37,207     (130,260     5,160,400       70,000       207,718        
       

 

 

   

 

 

   

 

 

     

 

 

   

 

 

 
        $ (37,207   $ (129,491   $ 5,365,550       $ 218,824     $  
       

 

 

   

 

 

   

 

 

     

 

 

   

 

 

 

 

  (a)

As of period end, the entity is no longer held.

 

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts

 

Currency Purchased        Currency Sold        Counterparty      Settlement Date       

Unrealized

Appreciation

(Depreciation)

 
USD     300,201        EUR     280,118        Toronto-Dominion Bank        12/20/23        $ 2,960  
USD     525,884        EUR     490,882        UBS AG        12/20/23          4,997  
USD     2,232,650        GBP     1,803,000        Barclays Bank PLC        12/20/23          31,613  
                       

 

 

 
                        $ 39,570  
                       

 

 

 

 

 

13


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

    

 

Centrally Cleared Credit Default Swaps — Sell Protection

 

Reference Obligation/Index     

Financing
Rate Received
by the Fund
 
 
 
    
Payment
Frequency
 
 
   Termination Date    Credit Rating(a)     
Notional
Amount (000)
 
(b) 
     Value       


Upfront
Premium
Paid
(Received)
 
 
 
 
    

Unrealized
Appreciation
(Depreciation)
 
 
 

CDX.NA.HY.39.V2

     5.00      Quarterly      12/20/27    B      USD    4,480        $ 113,559      $ (59,954    $ 173,513  

CDX.NA.HY.40.V1

     5.00        Quarterly      06/20/28    B      USD    4,485        77,853        116,146        (38,293
                 

 

 

    

 

 

    

 

 

 
                    $ 191,412      $ 56,192      $ 135,220  
                 

 

 

    

 

 

    

 

 

 

 

  (a) 

Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

 
  (b)

The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

   

Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access;

 

   

Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

 

   

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

      Level 1        Level 2        Level 3        Total  

Assets

                 

Investments

                 

Long-Term Investments

                 

Asset-Backed Securities

   $        $ 5,027,479        $        $ 5,027,479  

Common Stocks

                 

Construction & Engineering

              30,983                   30,983  

Electrical Equipment

     11,476                            11,476  

Energy Equipment & Services

                                 

Entertainment

                       251,711          251,711  

Financial Services

              411,882                   411,882  

Oil, Gas & Consumable Fuels

                       3,099          3,099  

Semiconductors & Semiconductor Equipment

     2,689                            2,689  

Corporate Bonds

              8,343,675                   8,343,675  

Fixed Rate Loan Interests

              988,826                   988,826  

Floating Rate Loan Interests

              577,713,987          14,222,515          591,936,502  

Investment Companies

     8,372,957                            8,372,957  

Other Interests

                                 

Warrants

     21,289                            21,289  

Liabilities

                 

Unfunded Floating Rate Loan Interests(a)

              (3,487                 (3,487
  

 

 

      

 

 

      

 

 

      

 

 

 
   $ 8,408,411        $ 592,513,345        $ 14,477,325        $ 615,399,081  
  

 

 

      

 

 

      

 

 

      

 

 

 

 

 

C H E D U L E    O F   I N  V E S T M E N T S

  14


Schedule of Investments (unaudited) (continued)

September 30, 2023

  

BlackRock Floating Rate Income Strategies Fund, Inc. (FRA)

    

 

Fair Value Hierarchy as of Period End (continued)

 

      Level 1        Level 2        Level 3        Total  

Derivative Financial Instruments(b)

                 

Assets

                 

Credit Contracts

   $        $ 173,513        $        $ 173,513  

Foreign Currency Exchange Contracts

              39,570                   39,570  

Liabilities

                 

Credit Contracts

              (38,293                 (38,293
  

 

 

      

 

 

      

 

 

      

 

 

 
   $         —        $       174,790        $         —        $       174,790  
  

 

 

      

 

 

      

 

 

      

 

 

 

 

  (a) 

Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.

 
  (b)

Derivative financial instruments are swaps and forward foreign currency exchange contracts. Swaps and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

 

      Common
Stocks
       Corporate
Bonds
    

Floating

Rate Loan
Interests

       Other
Interests
     Total  

Assets

                  

Opening balance, as of December 31, 2022

   $ 4,440        $ (a)     $ 12,129,451        $ (a)     $ 12,133,891  

Transfers into Level 3(b)

                     8,895,256                 8,895,256  

Transfers out of Level 3(c)

                     (5,521,415               (5,521,415

Accrued discounts/premiums

                     293,952                 293,952  

Net realized gain (loss)

     (213,184               (77,231               (290,415

Net change in unrealized appreciation (depreciation)(d)

     232,052                 592,409                 824,461  

Purchases

     232,325                 2,894,493                 3,126,818  

Sales

     (823               (4,984,400               (4,985,223
  

 

 

      

 

 

    

 

 

      

 

 

    

 

 

 

Closing balance, as of September 30, 2023

   $ 254,810        $ (a)     $ 14,222,515        $ (a)     $ 14,477,325  
  

 

 

      

 

 

    

 

 

      

 

 

    

 

 

 

Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2023(d)

   $ 19,387        $      $ 543,525 $                $ 562,912  
  

 

 

      

 

 

    

 

 

      

 

 

    

 

 

 

 

  (a) 

Rounds to less than $1.

 
  (b)

As of December 31, 2022, the Fund used observable inputs in determining the value of certain investments. As of September 30, 2023, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy.

 
  (c)

As of December 31, 2022, the Fund used significant unobservable inputs in determining the value of certain investments. As of September 30, 2023, the Fund used observable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy.

 
  (d)

Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2023 is generally due to investments no longer held or categorized as Level 3 at period end.

 

The Fund’s financial instruments that are categorized as Level 3 were valued utilizing third-party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third-party information could result in a significantly lower or higher value of such Level 3 financial instruments.

 

Currency Abbreviation    Portfolio Abbreviation (continued)
EUR   Euro    SCA    Societe en Commandite par Actions
GBP   British Pound    SOFR    Secured Overnight Financing Rate
USD   United States Dollar    SONIA                Sterling Overnight Interbank Average Rate
Portfolio Abbreviation   
CLO   Collateralized Loan Obligation      
DAC   Designated Activity Company      
ETF   Exchange-Traded Fund      
EURIBOR           Euro Interbank Offered Rate      
LIBOR   London Interbank Offered Rate      
PIK   Payment-in-Kind      

 

 

15