Name of Fund: |
Fund Address: | 100 Bellevue Parkway, Wilmington, DE 19809 |
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JUNE 30, 2023 |
2023 Semi-Annual Report (Unaudited) |
Not FDIC Insured • May Lose Value • No Bank Guarantee |
Total Cumulative Distributions for the Fiscal Period |
% Breakdown of the Total Cumulative Distributions for the Fiscal Period |
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Trust Name |
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Net Income |
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Net Realized Capital Gains Short-Term |
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Net Realized Capital Gains Long-Term |
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Return of Capital |
(a) |
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Total Per Common Share |
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Net Income |
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Net Realized Capital Gains Short-Term |
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Net Realized Capital Gains Long-Term |
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Return of Capital |
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Total Per Common Share |
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BHK |
$ | 0.255896 | $ | — | $ | — | $ | 0.191704 | $ | 0.447600 | 57 | % | — | % | — | % | 43 | % | 100 | % | ||||||||||||||||||||
HYT |
0.326298 | — | — | 0.141102 | 0.467400 | 70 | — | — | 30 | 100 | ||||||||||||||||||||||||||||||
BTZ |
0.311561 | — | — | 0.191839 | 0.503400 | 62 | — | — | 38 | 100 |
(a) | Each Trust estimates that it has distributed more than its net income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment in a Trust is returned to the shareholder. A return of capital does not necessarily reflect a Trust’s investment performance and should not be confused with “yield” or “income.” When distributions exceed total return performance, the difference will reduce a Trust’s net asset value per share. |
Trust Name | Amount Per Common Share |
|||
BHK |
$ | 0.074600 | ||
HYT |
0.077900 | |||
BTZ |
0.083900 | |||
BGT |
0.113580 |
2 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Total Returns as of June 30, 2023 | ||||||||||
6‑Month | 12‑Month | |||||||||
U.S. large cap equities (S&P 500® Index) |
16.89 | % | 19.59 | % | ||||||
U.S. small cap equities (Russell 2000® Index) |
8.09 | 12.31 | ||||||||
International equities (MSCI Europe, Australasia, Far East Index) |
11.67 | 18.77 | ||||||||
Emerging market equities (MSCI Emerging Markets Index) |
4.89 | 1.75 | ||||||||
3‑month Treasury bills (ICE BofA 3‑Month U.S. Treasury Bill Index) |
2.25 | 3.60 | ||||||||
U.S. Treasury securities (ICE BofA 10‑Year U.S. Treasury Index) |
1.70 | (3.97 | ) | |||||||
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) |
2.09 | (0.94 | ) | |||||||
Tax‑exempt municipal bonds (Bloomberg Municipal Bond Index) |
2.67 | 3.19 | ||||||||
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) |
5.38 | 9.07 | ||||||||
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
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T H I S P A G E I S N O T P A R T O F Y O U R F U N D R E P O R T |
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Semi-Annual Report: |
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5 | ||||
5 | ||||
6 | ||||
Financial Statements: |
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15 | ||||
128 | ||||
130 | ||||
131 | ||||
133 | ||||
135 | ||||
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157 | ||||
160 |
4 |
T H E B E N E F I T S A N D R I S K S O F L E V E R A G I N G / D E R I V A T I V E F I N A N C I A L I N S T R U M E N T S |
5 |
Trust Summary as of June 30, 2023 | BlackRock Core Bond Trust (BHK) |
Symbol on New York Stock Exchange |
BHK | |
Initial Offering Date |
November 27, 2001 | |
Current Distribution Rate on Closing Market Price as of June 30, 2023 ($ 10.64)(a) |
8.41% | |
Current Monthly Distribution per Common Share(b) |
$0.074600 | |
Current Annualized Distribution per Common Share(b) |
$0.895200 | |
Leverage as of June 30, 2023(c) |
34% |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain. |
(c) | Represents reverse repurchase agreements as a percentage of total managed assets, which is the total assets of the Trust (including any assets attributable to any borrowings) minus the sum of its liabilities (other than borrowings representing financial leverage). Does not reflect derivatives or other instruments that may give rise to economic leverage. For a discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging and Derivative Financial Instruments. |
06/30/23 | 12/31/22 | Change | High | Low | ||||||||||||||||
Closing Market Price |
$ | 10.64 | $ | 10.38 | 2.50 | % | $ | 11.68 | $ | 10.21 | ||||||||||
Net Asset Value |
10.93 | 10.89 | 0.37 | 11.77 | 10.75 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV(a)(b) |
4.56 | % | 0.00 | % | 1.48 | % | 3.91 | % | ||||||||
Trust at Market Price(a)(b) |
6.79 | 1.99 | 2.85 | 4.50 | ||||||||||||
Bloomberg U.S. Credit Index(c) |
3.13 | 1.39 | 1.65 | 2.51 | ||||||||||||
Reference Benchmark(d) |
3.50 | 0.67 | 1.53 | 2.76 | ||||||||||||
Bloomberg U.S. Long Government/Credit Index(e) |
4.39 | (2.56 | ) | 0.66 | 2.86 | |||||||||||
Bloomberg Intermediate Credit Index(f) |
2.21 | 1.56 | 1.82 | 2.17 | ||||||||||||
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index(g) |
5.38 | 9.07 | 3.34 | 4.43 | ||||||||||||
Bloomberg CMBS, Eligible for U.S. Aggregate Index(h) |
1.20 | (1.71 | ) | 1.29 | 1.80 | |||||||||||
Bloomberg MBS Index(i) |
1.87 | (1.52 | ) | 0.03 | 1.13 | |||||||||||
Bloomberg ABS Index(j) |
1.74 | 1.18 | 1.53 | 1.48 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage, if any. |
(b) | The Trust’s discount to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that measures the investment grade, U.S. dollar-denominated, fixed-rate, taxable corporate and government related bond markets. It is composed of the U.S. Corporate Index and a non-corporate component that includes foreign agencies, sovereigns, supranationals and local authorities. |
(d) | The Reference Benchmark is comprised of the Bloomberg U.S. Long Government/Credit Index (40%); Bloomberg Intermediate Credit Index (24%); Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index (16%); Bloomberg CMBS, Eligible for U.S. Aggregate Index (8%); Bloomberg MBS Index (8%); and Bloomberg ABS Index (4%). The Reference Benchmark’s index content and weightings may have varied over past periods. |
(e) | An unmanaged index that is the long component of the Bloomberg U.S. Government/Credit Index. It includes publicly issued U.S. Treasury debt, U.S. government agency debt, taxable debt issued by U.S. states and territories and their political subdivisions, debt issued by U.S. and non-U.S. corporations, non-U.S. government debt and supranational debt. |
(f) | An unmanaged index that is the intermediate component of the Bloomberg U.S. Credit Index. The Bloomberg U.S. Credit Index includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements. |
(g) | An unmanaged index comprised of issuers that meet the following criteria: at least $150 million par value outstanding; maximum credit rating of Ba1; at least one year to maturity; and no issuer represents more than 2% of the index. |
(h) | An unmanaged index that is the CMBS component of the Bloomberg U.S. Aggregate Index. |
6 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Trust Summary as of June 30, 2023 (continued) | BlackRock Core Bond Trust (BHK) |
(i) | An unmanaged index that is a market value-weighted index, which covers the mortgage-backed securities component of the Bloomberg U.S. Aggregate Bond Index. It is comprised of agency mortgage-backed pass-through securities of the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac) with a minimum $150 million par amount outstanding and a weighted-average maturity of at least 1 year. The index includes reinvestment of income. |
(j) | An unmanaged index that is the asset-backed securities component of the Bloomberg U.S. Aggregate Index. |
Asset Type(a) | Percentage of Total Investments |
|||
Corporate Bonds |
45.6 | % | ||
U.S. Government Sponsored Agency Securities |
15.7 | |||
Asset-Backed Securities |
10.7 | |||
Non-Agency Mortgage-Backed Securities |
9.2 | |||
U.S. Treasury Obligations |
9.0 | |||
Preferred Securities |
3.8 | |||
Municipal Bonds |
2.4 | |||
Floating Rate Loan Interests |
2.3 | |||
Foreign Agency Obligations |
1.3 |
Credit Rating(a)(b) | Percentage of Total Investments |
|||
AAA/Aaa(c) |
34.0 | % | ||
AA/Aa |
3.9 | |||
A |
12.5 | |||
BBB/Baa |
19.7 | |||
BB/Ba |
11.1 | |||
B |
10.6 | |||
CCC/Caa |
2.8 | |||
CC |
0.2 | |||
C |
— | (d) | ||
N/R(e) |
5.2 |
T R U S T S U M M A R Y |
7 |
Trust Summary as of June 30, 2023 (continued) | BlackRock Core Bond Trust (BHK) |
(a) | Excludes short-term securities. |
(b) | For financial reporting purposes, credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Service, Inc. if ratings differ. These rating agencies are independent, nationally recognized statistical rating organizations and are widely used. Investment grade ratings are credit ratings of BBB/Baa or higher. Below investment grade ratings are credit ratings of BB/Ba or lower. Investments designated N/R are not rated by either rating agency. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(c) | The investment adviser evaluates the credit quality of not-rated investments based upon certain factors including, but not limited to, credit ratings for similar investments and financial analysis of sectors, individual investments and/or issuer. Using this approach, the investment adviser has deemed U.S. Government Sponsored Agency Securities and U.S. Treasury Obligations as AAA/Aaa. |
(d) | Rounds to less than 0.1% of total investments. |
(e) | The investment adviser evaluates the credit quality of unrated investments based upon certain factors including, but not limited to, credit ratings for similar investments and financial analysis of sectors and individual investments. Using this approach, the investment adviser has deemed certain of these unrated securities as investment grade quality. As of June 30, 2023, the market value of unrated securities deemed by the investment adviser to be investment grade represents less than 1.0% of the Trust’s total investments. |
8 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Trust Summary as of June 30, 2023 | BlackRock Corporate High Yield Fund, Inc. (HYT) |
Symbol on New York Stock Exchange |
HYT | |
Initial Offering Date |
May 30, 2003 | |
Current Distribution Rate on Closing Market Price as of June 30, 2023 ($8.92)(a) |
10.48% | |
Current Monthly Distribution per Common Share(b) |
$0.077900 | |
Current Annualized Distribution per Common Share(b) |
$0.934800 | |
Leverage as of June 30, 2023(c) |
29% |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain. |
(c) | Represents bank borrowings outstanding as a percentage of total managed assets, which is the total assets of the Trust (including any assets attributable to borrowings), minus the sum of liabilities (other than borrowings representing financial leverage). Does not reflect derivatives or other instruments that may give rise to economic leverage. For a discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging and Derivative Financial Instruments. |
06/30/23 | 12/31/22 | Change | High | Low | ||||||||||||||||
Closing Market Price |
$ | 8.92 | $ | 8.74 | 2.06 | % | $ | 9.43 | $ | 8.28 | ||||||||||
Net Asset Value |
9.38 | 9.25 | 1.41 | 9.85 | 9.13 |
Average Annual Total Returns | ||||||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||||||
Trust at NAV(a)(b) |
6.88 | % | 10.09 | % | 4.25 | % | 5.97 | % | ||||||||||||
Trust at Market Price(a)(b) |
7.57 | 3.82 | 5.75 | 5.88 | ||||||||||||||||
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index(c) |
5.38 | 9.07 | 3.34 | 4.43 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage, if any. |
(b) | The Trust’s discount to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An unmanaged index comprised of issuers that meet the following criteria: at least $150 million par value outstanding; maximum credit rating of Ba1; at least one year to maturity; and no issuer represents more than 2% of the index. |
T R U S T S U M M A R Y |
9 |
Trust Summary as of June 30, 2023 (continued) | BlackRock Corporate High Yield Fund, Inc. (HYT) |
Asset Type(a) | Percentage of Total Investments |
|||
Corporate Bonds |
86.1 | % | ||
Floating Rate Loan Interests |
11.9 | |||
Preferred Securities |
1.5 | |||
Other* |
0.5 |
Credit Rating(a)(b) | Percentage of Total Investments |
|||
A |
0.5 | % | ||
BBB/Baa |
6.0 | |||
BB/Ba |
37.6 | |||
B |
44.0 | |||
CCC/Caa |
9.7 | |||
CC |
— | (c) | ||
C |
— | (c) | ||
N/R(d) |
2.2 |
(a) | Excludes short-term securities. |
(b) | For financial reporting purposes, credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Service, Inc. if ratings differ. These rating agencies are independent, nationally recognized statistical rating organizations and are widely used. Investment grade ratings are credit ratings of BBB/Baa or higher. Below investment grade ratings are credit ratings of BB/Ba or lower. Investments designated N/R are not rated by either rating agency. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(c) | Rounds to less than 0.1% of total investments. |
(d) | The investment adviser evaluates the credit quality of unrated investments based upon certain factors including, but not limited to, credit ratings for similar investments and financial analysis of sectors and individual investments. Using this approach, the investment adviser has deemed certain of these unrated securities as investment grade quality. As of June 30, 2023, the market value of unrated securities deemed by the investment adviser to be investment grade represents less than 1.0% of the Trust’s total investments. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Consolidated Schedule of Investments for details. |
10 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Trust Summary as of June 30, 2023 | BlackRock Credit Allocation Income Trust (BTZ) |
Symbol on New York Stock Exchange |
BTZ | |
Initial Offering Date |
December 27, 2006 | |
Current Distribution Rate on Closing Market Price as of June 30, 2023 ($10.15)(a) |
9.92% | |
Current Monthly Distribution per Common Share(b) |
$0.083900 | |
Current Annualized Distribution per Common Share(b) |
$1.006800 | |
Leverage as of June 30, 2023(c) |
37% |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain. |
(c) | Represents reverse repurchase agreements as a percentage of total managed assets, which is the total assets of the Trust (including any assets attributable to any borrowings) minus the sum of its liabilities (other than borrowings representing financial leverage). Does not reflect derivatives or other instruments that may give rise to economic leverage. For a discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging and Derivative Financial Instruments. |
06/30/23 | 12/31/22 | Change | High | Low | ||||||||||||||||
Closing Market Price |
$ | 10.15 | $ | 10.10 | 0.50 | % | $ | 11.46 | $ | 9.97 | ||||||||||
Net Asset Value |
11.21 | 11.19 | 0.18 | 12.00 | 11.07 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV(a)(b) |
5.08 | % | 6.02 | % | 3.12 | % | 4.67 | % | ||||||||
Trust at Market Price(a)(b) |
5.41 | 2.52 | 4.07 | 4.88 | ||||||||||||
Reference Benchmark(c) |
3.75 | 3.69 | 2.42 | 3.40 | ||||||||||||
Bloomberg U.S. Credit Index(d) |
3.13 | 1.39 | 1.65 | 2.51 | ||||||||||||
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index(e) |
5.38 | 9.07 | 3.34 | 4.43 | ||||||||||||
Bloomberg USD Capital Securities Index(f) |
2.80 | 1.45 | 2.79 | 3.96 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage, if any. |
(b) | The Trust’s discount to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | The Reference Benchmark is comprised of the Bloomberg U.S. Credit Index (50.36%), the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index (29.93%), and the Bloomberg USD Capital Securities Index (19.71%). |
(d) | An index that measures the investment grade, U.S. dollar-denominated, fixed-rate, taxable corporate and government related bond markets. It is composed of the U.S. Corporate Index and a non-corporate component that includes foreign agencies, sovereigns, supranationals and local authorities. |
(e) | An unmanaged index comprised of issuers that meet the following criteria: at least $150 million par value outstanding; maximum credit rating of Ba1; at least one year to maturity; and no issuer represents more than 2% of the index. |
(f) | An unmanaged index that tracks fixed-rate, investment grade capital securities denominated in USD. |
T R U S T S U M M A R Y |
11 |
Trust Summary as of June 30, 2023 (continued) | BlackRock Credit Allocation Income Trust (BTZ) |
Asset Type(a) | Percentage of Total Investments |
|||
Corporate Bonds |
67.8 | % | ||
Asset-Backed Securities |
9.3 | |||
U.S. Government Sponsored Agency Securities |
8.7 | |||
Preferred Securities |
8.3 | |||
Floating Rate Loan Interests |
3.8 | |||
Foreign Agency Obligations |
1.5 | |||
Other* |
0.6 |
Credit Rating(a)(b) | Percentage of Total Investments |
|||
AAA/Aaa |
13.8 | % | ||
AA/Aa |
3.2 | |||
A |
11.7 | |||
BBB/Baa |
34.3 | |||
BB/Ba |
19.4 | |||
B |
14.6 | |||
CCC/Caa |
2.4 | |||
C |
— | (c) | ||
N/R(d) |
0.6 |
(a) | Excludes short-term securities. |
(b) | For financial reporting purposes, credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Service, Inc. if ratings differ. These rating agencies are independent, nationally recognized statistical rating organizations and are widely used. Investment grade ratings are credit ratings of BBB/Baa or higher. Below investment grade ratings are credit ratings of BB/Ba or lower. Investments designated N/R are not rated by either rating agency. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(c) | Rounds to less than 0.1% of total investments. |
(d) | The investment adviser evaluates the credit quality of unrated investments based upon certain factors including, but not limited to, credit ratings for similar investments and financial analysis of sectors and individual investments. Using this approach, the investment adviser has deemed certain of these unrated securities as investment grade quality. As of June 30, 2023, the market value of unrated securities deemed by the investment adviser to be investment grade represents less than 1.0% of the Trust’s total investments. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Schedule of Investments for details. |
12 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Trust Summary as of June 30, 2023 | BlackRock Floating Rate Income Trust (BGT) |
Symbol on New York Stock Exchange |
BGT | |
Initial Offering Date |
August 30, 2004 | |
Current Distribution Rate on Closing Market Price as of June 30, 2023 ($11.66)(a) |
11.69% | |
Current Monthly Distribution per Common Share(b) |
$0.113580 | |
Current Annualized Distribution per Common Share(b) |
$1.362960 | |
Leverage as of June 30, 2023(c) |
24% |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. |
(c) | Represents bank borrowings outstanding as a percentage of total managed assets, which is the total assets of the Trust (including any assets attributable to borrowings), minus the sum of liabilities (other than borrowings representing financial leverage). Does not reflect derivatives or other instruments that may give rise to economic leverage. For a discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging and Derivative Financial Instruments. |
06/30/23 | 12/31/22 | Change | High | Low | ||||||||||||||||
Closing Market Price |
$ | 11.66 | $ | 10.94 | 6.58 | % | $ | 11.75 | $ | 10.78 | ||||||||||
Net Asset Value |
12.75 | 12.43 | 2.57 | 12.86 | 12.42 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV(a)(b) |
8.00 | % | 15.23 | % | 4.97 | % | 5.22 | % | ||||||||
Trust at Market Price(a)(b) |
12.22 | 15.70 | 4.98 | 3.93 | ||||||||||||
Morningstar LSTA Leveraged Loan Index(c) |
6.48 | 10.71 | 4.13 | 4.07 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage, if any. |
(b) | The Trust’s discount to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An unmanaged market value-weighted index designed to measure the performance of the U.S. leveraged loan market based upon market weightings, spreads and interest payments. |
T R U S T S U M M A R Y |
13 |
Trust Summary as of June 30, 2023 (continued) | BlackRock Floating Rate Income Trust (BGT) |
Asset Type(a) | Percentage of Total Investments |
|||
Floating Rate Loan Interests |
96.2 | % | ||
Corporate Bonds |
1.5 | |||
Asset-Backed Securities |
1.1 | |||
Investment Companies |
1.1 | |||
Other* |
0.1 |
Credit Rating(a)(b) | Percentage of Total Investments |
|||
BBB/Baa |
6.8 | % | ||
BB/Ba |
25.7 | |||
B |
57.2 | |||
CCC/Caa |
6.5 | |||
C |
— | (c) | ||
N/R(d) |
3.8 |
(a) | Excludes short-term securities. |
(b) | For financial reporting purposes, credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Service, Inc. if ratings differ. These rating agencies are independent, nationally recognized statistical rating organizations and are widely used. Investment grade ratings are credit ratings of BBB/Baa or higher. Below investment grade ratings are credit ratings of BB/Ba or lower. Investments designated N/R are not rated by either rating agency. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(c) | Rounds to less than 0.1% of total investments. |
(d) | The investment adviser evaluates the credit quality of unrated investments based upon certain factors including, but not limited to, credit ratings for similar investments and financial analysis of sectors and individual investments. Using this approach, the investment adviser has deemed certain of these unrated securities as investment grade quality. As of June 30, 2023, the market value of unrated securities deemed by the investment adviser to be investment grade represents less than 1.0% of the Trust’s total investments. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Schedule of Investments for details. |
14 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities |
||||||||
522 Funding CLO Ltd.(a)(b) |
||||||||
Series 2019-4A, Class CR, (3-mo. LIBOR US + 2.40%), 7.65%, 04/20/30 |
USD | 500 | $ | 496,237 | ||||
Series 2019-4A, Class DR, (3-mo. LIBOR US + 3.65%), 8.90%, 04/20/30 |
600 | 573,381 | ||||||
AGL CLO 3 Ltd., Series 2020-3A, Class D, (3‑mo. LIBOR US + 3.30%), 8.56%, 01/15/33(a)(b) |
250 | 236,037 | ||||||
ALM Ltd., Series 2020-1A, Class D, (3-mo. LIBOR US + 6.00%), 11.26%, 10/15/29(a)(b) |
285 | 259,176 | ||||||
AMMC CLO 20 Ltd., Series 2017-20A, Class AR, (3-mo. LIBOR US + 0.87%), 6.13%, 04/17/29(a)(b) |
73 | 72,970 | ||||||
Anchorage Capital CLO Ltd.(a)(b) |
||||||||
Series 2013-1A, Class A2R, (3-mo. LIBOR US + 1.65%), 6.89%, 10/13/30 |
380 | 377,584 | ||||||
Series 2013-1A, Class CR, (3-mo. LIBOR US + 3.20%), 8.44%, 10/13/30 |
720 | 696,600 | ||||||
Apidos CLO XXII, Series 2015-22A, Class CR, (3-mo. LIBOR US + 2.95%), 8.20%, 04/20/31(a)(b) |
250 | 236,532 | ||||||
Apidos CLO XXIV, Series 2016-24A, Class A1AL, (3-mo. LIBOR US + 0.95%), 6.20%, 10/20/30(a)(b) |
500 | 494,352 | ||||||
Apidos CLO XXVI, Series 2017-26A, Class A1AR, (3-mo. LIBOR US + 0.90%), 6.16%, 07/18/29(a)(b) |
1,077 | 1,070,870 | ||||||
Apidos CLO XXVII, Series 2017-27A, Class A1R, (3-mo. LIBOR US + 0.93%), 6.19%, 07/17/30(a)(b) |
247 | 245,345 | ||||||
ASSURANT CLO I Ltd., Series 2017-1A, Class CR, (3-mo. LIBOR US + 2.15%), 7.40%, 10/20/34(a)(b) |
500 | 477,973 | ||||||
Bain Capital Credit CLO Ltd.(a)(b) |
||||||||
Series 2021-3A, Class D, (3-mo. LIBOR US + 3.10%), 8.37%, 07/24/34 |
250 | 224,075 | ||||||
Series 2021-5A, Class B, (3-mo. LIBOR US + 1.65%), 6.92%, 10/23/34 |
500 | 478,447 | ||||||
Ballyrock CLO 21 Ltd., Series 2022-21A, Class D, (3-mo. CME Term SOFR + 8.76%), 13.81%, 10/20/35(a)(b) |
500 | 501,759 | ||||||
Barings CLO Ltd., Series 2017-1A, Class D, (3-mo. LIBOR US + 3.60%), 8.86%, 07/18/29(a)(b) |
250 | 244,959 | ||||||
Benefit Street Partners CLO II Ltd., Series 2013-IIA, Class A1R2, (3-mo. LIBOR US + 0.87%), 6.13%, 07/15/29(a)(b) |
160 | 159,346 | ||||||
Birch Grove CLO 3 Ltd., Series 2021-3A, Class D1, (3-mo. LIBOR US + 3.20%), 8.47%, 01/19/35(a)(b) |
250 | 235,018 | ||||||
Birch Grove CLO Ltd., Series 19A, Class DR, (3-mo. LIBOR US + 3.35%), 8.90%, 06/15/31(a)(b) |
1,000 | 980,639 | ||||||
BlueMountain CLO XXVIII Ltd., Series 2021-28A, Class D, (3-mo. LIBOR US + 2.90%), 8.16%, 04/15/34(a)(b) |
500 | 454,549 | ||||||
Buttermilk Park CLO Ltd., Series 2018-1A, Class D, (3-mo. LIBOR US + 3.10%), 8.36%, 10/15/31(a)(b) |
250 | 225,236 | ||||||
Canyon Capital CLO Ltd.(a)(b) |
||||||||
Series 2016-1A, Class CR, (3-mo. LIBOR US + 1.90%), 7.16%, 07/15/31 |
250 | 240,138 | ||||||
Series 2021-2A, Class D, (3-mo. LIBOR US + 3.35%), 8.61%, 04/15/34 |
500 | 457,547 | ||||||
Carlyle Global Market Strategies CLO Ltd.(a)(b) |
||||||||
Series 2013-1A, Class A1RR, (3-mo. LIBOR US + 0.95%), 6.27%, 08/14/30 |
228 | 225,350 | ||||||
Series 2013-1A, Class CR, (3-mo. LIBOR US + 3.35%), 8.67%, 08/14/30 |
1,000 | 922,571 | ||||||
Carlyle U.S. CLO Ltd., Series 2022-6A, Class C, (3-mo. CME Term SOFR + 4.00%), 8.60%, 10/25/34(a)(b) |
250 | 251,489 |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
|
|||||||
CarVal CLO II Ltd., Series 2019-1A, Class DR, (3-mo. LIBOR US + 3.20%), 8.45%, 04/20/32(a)(b) |
USD | 500 | $ | 462,671 | ||||
CarVal CLO III Ltd., Series 2019-2A, Class E, (3-mo. LIBOR US + 6.44%), 11.69%, 07/20/32(a)(b) |
500 | 446,067 | ||||||
CarVal CLO VC Ltd., Series 2021-2A, Class D, (3-mo. LIBOR US + 3.25%), 8.51%, 10/15/34(a)(b) |
250 | 239,753 | ||||||
CBAM Ltd., Series 2017-1A, Class C, (3-mo. LIBOR US + 2.40%), 7.65%, 07/20/30(a)(b) |
350 | 343,651 | ||||||
Cedar Funding IX CLO Ltd.(a)(b) |
||||||||
Series 2018-9A, Class A1, (3-mo. LIBOR US + 0.98%), 6.23%, 04/20/31 |
250 | 247,824 | ||||||
Series 2018-9A, Class D, (3-mo. LIBOR US + 2.60%), 7.85%, 04/20/31 |
250 | 229,779 | ||||||
Cedar Funding VII CLO Ltd., Series 2018-7A, Class A1, (3-mo. LIBOR US + 1.00%), 6.25%, 01/20/31(a)(b) |
496 | 491,890 | ||||||
Cedar Funding X CLO Ltd., Series 2019-10A, Class BR, (3-mo. LIBOR US + 1.60%), 6.85%, 10/20/32(a)(b) |
930 | 913,290 | ||||||
Cedar Funding XIV CLO Ltd., Series 2021-14A, Class B, (3-mo. LIBOR US + 1.60%), 6.86%, 07/15/33(a)(b) |
500 | 491,308 | ||||||
Cedar Funding XV CLO Ltd., Series 2022-15A, Class B, (3-mo. CME Term SOFR + 1.80%), 6.85%, 04/20/35(a)(b) |
400 | 384,548 | ||||||
CIFC Funding I Ltd., Series 2019-1A, Class DR, (3-mo. LIBOR US + 3.10%), 8.35%, 04/20/32(a)(b) |
500 | 483,132 | ||||||
CIFC Funding II Ltd., Series 2017-2A, Class AR, (3-mo. LIBOR US + 0.95%), 6.20%, 04/20/30(a)(b) |
489 | 484,925 | ||||||
CIFC Funding III Ltd., Series 2015-3A, Class AR, (3-mo. LIBOR US + 0.87%), 6.14%, 04/19/29(a)(b) |
217 | 215,667 | ||||||
CIFC Funding IV Ltd., Series 2017-4A, Class A1R, (3-mo. LIBOR US + 0.95%), 6.22%, 10/24/30(a)(b) |
476 | 471,652 | ||||||
CIFC Funding Ltd.(a)(b) |
||||||||
Series 2013-1A, Class CR, (3-mo. LIBOR US + 3.55%), 8.81%, 07/16/30 |
500 | 467,173 | ||||||
Series 2014-2RA, Class B1, (3-mo. LIBOR US + 2.80%), 8.07%, 04/24/30 |
750 | 720,776 | ||||||
Series 2014-3A, Class BR2, (3-mo. LIBOR US + 1.80%), 7.07%, 10/22/31 |
250 | 245,567 | ||||||
Series 2015-1A, Class ARR, (3-mo. LIBOR US + 1.11%), 6.38%, 01/22/31 |
1,000 | 989,300 | ||||||
Series 2020-1A, Class DR, (3-mo. LIBOR US + 3.10%), 8.36%, 07/15/36 |
500 | 470,038 | ||||||
CIFC Funding VII Ltd.(a)(b) |
||||||||
Series 2022-7A, Class C, (3-mo. CME Term SOFR + 3.85%), 8.92%, 10/22/35 |
500 | 499,736 | ||||||
Series 2022-7A, Class D, (3-mo. CME Term SOFR + 5.35%), 10.42%, 10/22/35 |
600 | 600,335 | ||||||
CWHEQ Revolving Home Equity Loan Trust, Series 2006-I, Class 1A, (1-mo. LIBOR US + 0.14%), 5.33%, 01/15/37(a) |
1,094 | 983,993 | ||||||
Dewolf Park CLO Ltd., Series 2017-1A, Class DR, (3-mo. LIBOR US + 2.85%), 8.11%, 10/15/30(a)(b) |
280 | 260,017 | ||||||
Dryden 106 CLO Ltd., Series 2022-106A, Class C, (3-mo. CME Term SOFR + 3.90%), 8.46%, 10/15/35(a)(b) |
500 | 502,308 | ||||||
Dryden 37 Senior Loan Fund, Series 2015-37A, Class AR, (3-mo. LIBOR US + 1.10%), 6.36%, 01/15/31(a)(b) |
245 | 243,959 | ||||||
Dryden 50 Senior Loan Fund, Series 2017-50A, Class B, (3-mo. LIBOR US + 1.65%), 6.91%, 07/15/30(a)(b) |
250 | 242,168 | ||||||
Dryden 53 CLO Ltd., Series 2017-53A, Class B, (3-mo. LIBOR US + 1.40%), 6.66%, 01/15/31(a)(b) |
1,320 | 1,302,985 |
S C H E D U L E O F I N V E S T M E N T S |
15 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
|
|||||||
Dryden 64 CLO Ltd., Series 2018-64A, Class D, (3-mo. LIBOR US + 2.65%), 7.91%, 04/18/31(a)(b) |
USD | 1,250 | $ | 1,142,337 | ||||
Dryden 78 CLO Ltd., Series 2020-78A, Class D, (3-mo. LIBOR US + 3.00%), 8.26%, 04/17/33(a)(b) |
250 | 230,561 | ||||||
Dryden XXVIII Senior Loan Fund(a)(b) |
||||||||
Series 2013-28A, Class A1LR, (3-mo. LIBOR US + 1.20%), 6.52%, 08/15/30 |
236 | 234,170 | ||||||
Series 2013-28A, Class B1LR, (3-mo. LIBOR US + 3.15%), 8.47%, 08/15/30 |
1,000 | 954,436 | ||||||
Eaton Vance CLO Ltd., Series 2015-1A, Class A2R, (3-mo. LIBOR US + 1.25%), 6.50%, 01/20/30(a)(b) |
1,000 | 977,500 | ||||||
EDvestinU Private Education Loan Issue No. 3 LLC, Series 2021-A, Class B, 3.50%, 11/25/50(b) |
110 | 87,115 | ||||||
Elmwood CLO 21 Ltd., Series 2022-8A, Class C, (3-mo. CME Term SOFR + 3.85%), 8.90%, 11/20/35(a)(b) |
500 | 500,952 | ||||||
Elmwood CLO IV Ltd., Series 2020-1A, Class B, (3-mo. LIBOR US + 1.70%), 6.96%, 04/15/33(a)(b) |
250 | 245,590 | ||||||
Elmwood CLO V Ltd., Series 2020-2A, Class CR, (3-mo. LIBOR US + 2.00%), 7.25%, 10/20/34(a)(b) |
436 | 425,898 | ||||||
Elmwood CLO VI Ltd., Series 2020-3A, Class BR, (3-mo. LIBOR US + 1.65%), 6.90%, 10/20/34(a)(b) |
250 | 244,188 | ||||||
Fairstone Financial Issuance Trust I, Series 2020-1A, Class C, 5.16%, 10/20/39(b) |
CAD | 170 | 116,084 | |||||
Flatiron CLO 18 Ltd., Series 2018-1A, Class A, (3-mo. CME Term SOFR + 1.21%), 6.20%, 04/17/31(a)(b) |
USD | 1,500 | 1,488,537 | |||||
Galaxy 31 Clo Ltd., Series 2023-31A, Class E, (3-mo. CME Term SOFR + 8.43%), 13.21%, 04/15/36(a)(b) |
350 | 348,263 | ||||||
Galaxy XX CLO Ltd., Series 2015-20A, Class CR, (3-mo. LIBOR US + 1.75%), 7.00%, 04/20/31(a)(b) |
250 | 244,054 | ||||||
Galaxy XXIII CLO Ltd., Series 2017-23A, Class AR, (3-mo. LIBOR US + 0.87%), 6.14%, 04/24/29(a)(b) |
397 | 392,819 | ||||||
Galaxy XXVII CLO Ltd., Series 2018-27A, Class A, (3‑mo. LIBOR US + 1.02%), 6.34%, 05/16/31(a)(b) |
2,000 | 1,969,863 | ||||||
Generate CLO 2 Ltd., Series 2A, Class AR, (3-mo. LIBOR US + 1.15%), 6.42%, 01/22/31(a)(b) |
248 | 245,655 | ||||||
Generate CLO 3 Ltd., Series 3A, Class DR, (3-mo. LIBOR US + 3.60%), 8.85%, 10/20/29(a)(b) |
1,750 | 1,721,371 | ||||||
Generate CLO 4 Ltd., Series 4A, Class DR, (3-mo. LIBOR US + 3.15%), 8.40%, 04/20/32(a)(b) |
1,500 | 1,364,987 | ||||||
Generate CLO 6 Ltd., Series DR, Class 6A, (3-mo. LIBOR US + 3.50%), 8.77%, 01/22/35(a)(b) |
750 | 701,248 | ||||||
GoldenTree Loan Management U.S. CLO 3 Ltd., Series 2018-3A, Class B1, (3-mo. LIBOR US + 1.55%), 6.80%, 04/20/30(a)(b) |
250 | 245,702 | ||||||
GoldenTree Loan Management U.S. CLO 4 Ltd., Series 2019-5A, Class BR, (3-mo. LIBOR US + 1.60%), 6.87%, 04/24/31(a)(b) |
500 | 496,361 | ||||||
GoldenTree Loan Opportunities IX Ltd., Series 2014-9A, Class BR2, (3-mo. LIBOR US + 1.60%), 6.90%, 10/29/29(a)(b) |
1,500 | 1,492,989 | ||||||
GoldenTree Loan Opportunities X Ltd., Series 2015-10A, Class DR, (3-mo. LIBOR US + 3.05%), 8.30%, 07/20/31(a)(b) |
250 | 241,282 | ||||||
Golub Capital Partners CLO 55B Ltd., Series 2021-55A, Class E, (3-mo. LIBOR US + 6.56%), 11.81%, 07/20/34(a)(b) |
250 | 235,826 | ||||||
Grippen Park CLO Ltd., Series 2017-1A, Class D, (3-mo. LIBOR US + 3.30%), 8.55%, 01/20/30(a)(b) |
250 | 240,206 | ||||||
Gulf Stream Meridian 1 Ltd., Series 2020-IA, Class E, (3-mo. LIBOR US + 6.45%), 11.71%, 04/15/33(a)(b) |
500 | 437,892 |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
|
|||||||
Highbridge Loan Management, Series 3A-2014, Class CR, (3-mo. LIBOR US + 3.60%), 8.86%, 07/18/29(a)(b) |
USD | 1,000 | $ | 935,974 | ||||
Jay Park CLO Ltd., Series 2016-1A, Class CR, (3-mo. LIBOR US + 2.65%), 7.90%, 10/20/27(a)(b) |
500 | 490,110 | ||||||
Litigation Fee Residual, 4.00%, 10/30/27(c) |
694 | 669,390 | ||||||
Long Beach Mortgage Loan Trust, Series 2006-8, Class 2A4, (1-mo. LIBOR US + 0.48%), 5.63%, 09/25/36(a) |
6,092 | 1,676,828 | ||||||
Madison Park Funding LIV Ltd., Series 2022-54A, Class E1, (3-mo. CME Term SOFR + 8.95%), 14.01%, 10/21/34(a)(b) |
263 | 261,025 | ||||||
Madison Park Funding LXII Ltd., Series 2022-62A, Class A1, (3-mo. CME Term SOFR + 2.25%), 7.24%, 07/17/33(a)(b) |
760 | 760,000 | ||||||
Madison Park Funding XLVIII Ltd., (3-mo. LIBOR US + 6.25%), 11.52%, 04/19/33 |
500 | 467,533 | ||||||
Madison Park Funding XVII Ltd., Series 2015-17A, Class DR, (3-mo. LIBOR US + 3.60%), 8.86%, 07/21/30(a)(b) |
1,000 | 975,751 | ||||||
Madison Park Funding XXIII Ltd.(a)(b) |
||||||||
Series 2017-23A, Class AR, (3-mo. LIBOR US + 0.97%), 6.26%, 07/27/31 |
983 | 974,873 | ||||||
Series 2017-23A, Class CR, (3-mo. LIBOR US + 2.00%), 7.29%, 07/27/31 |
600 | 582,249 | ||||||
Madison Park Funding XXV Ltd.(a)(b) |
||||||||
Series 2017-25A, Class A1R, (3-mo. LIBOR US + 0.97%), 6.23%, 04/25/29 |
1,463 | 1,453,488 | ||||||
Series 2017-25A, Class A2R, (3-mo. LIBOR US + 1.65%), 6.91%, 04/25/29 |
250 | 245,107 | ||||||
Madison Park Funding XXXI Ltd., Series 2018-31A, Class D, (3-mo. LIBOR US + 3.00%), 8.27%, 01/23/31(a)(b) |
625 | 604,399 | ||||||
Madison Park Funding XXXIV Ltd., Series 2019-34A, Class DR, (3-mo. LIBOR US + 3.35%), 8.61%, 04/25/32(a)(b) |
250 | 244,359 | ||||||
Madison Park Funding XXXVII Ltd., Series 2019-37A, Class BR, (3-mo. LIBOR US + 1.65%), 6.91%, 07/15/33(a)(b) |
900 | 887,055 | ||||||
Madison Park Funding XXXVIII Ltd., Series 2021-38A, Class C, (3-mo. LIBOR US + 1.90%), 7.16%, 07/17/34(a)(b) |
250 | 241,032 | ||||||
Marble Point CLO XVII Ltd., Series 2020-1A, Class D, (3-mo. LIBOR US + 3.75%), 9.00%, 04/20/33(a)(b) |
250 | 234,994 | ||||||
Marble Point CLO XXIII Ltd., Series 2021-4A, Class D1, (3-mo. LIBOR US + 3.65%), 8.92%, 01/22/35(a)(b) |
250 | 238,116 | ||||||
Mariner Finance Issuance Trust, Series 2022-AA, Class A, 6.45%, 10/20/37(b) |
515 | 513,895 | ||||||
Navient Private Education Refi Loan Trust 5.51%, 10/15/32 |
178 | 175,927 | ||||||
Series 2019-D, Class A2A, 3.01%, 12/15/59(b) |
586 | 541,871 | ||||||
Series 2019-GA, Class A, 2.40%, 10/15/68(b) |
214 | 196,647 | ||||||
Series 2021-CA, Class A, 1.06%, 10/15/69(b) |
884 | 762,193 | ||||||
Series 2021-DA, Class C, 3.48%, 04/15/60(b) |
770 | 675,983 | ||||||
Series 2021-DA, Class D, 4.00%, 04/15/60(b) |
440 | 393,305 | ||||||
Series 2021-EA, Class A, 0.97%, 12/16/69(b) |
1,029 | 869,610 | ||||||
Nelnet Student Loan Trust(b) |
||||||||
Series 2021-A, Class D, 4.93%, 04/20/62 |
460 | 387,381 | ||||||
Series 2021-BA, Class B, 2.68%, 04/20/62 |
1,983 | 1,599,911 | ||||||
Series 2021-CA, Class AFL, (1-mo. LIBOR US + 0.74%), 5.89%, 04/20/62(a) |
430 | 421,467 |
16 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
|
|||||||
Neuberger Berman CLO XXII Ltd., Series 2016-22A, Class BR, (3-mo. LIBOR US + 1.65%), 6.91%, 10/17/30(a)(b) |
USD | 250 | $ | 248,821 | ||||
Neuberger Berman Loan Advisers CLO 25 Ltd., Series 2017-25A, Class AR, (3-mo. LIBOR US + 0.93%), 6.19%, 10/18/29(a)(b) |
1,243 | 1,233,824 | ||||||
Neuberger Berman Loan Advisers CLO 37 Ltd., Series 2020-37A, Class CR, (3-mo. LIBOR US + 1.80%), 7.05%, 07/20/31(a)(b) |
1,163 | 1,142,774 | ||||||
Neuberger Berman Loan Advisers NBLA CLO 52 Ltd., Series 2022-52A, Class D, (3-mo. CME Term SOFR + 5.75%), 10.82%, 10/24/35(a)(b) |
568 | 568,171 | ||||||
OCP CLO Ltd.(a)(b) |
||||||||
Series 2015-9A, Class BR2, (3-mo. CME Term SOFR + 1.75%), 6.74%, 01/15/33 |
250 | 244,829 | ||||||
Series 2017-13A, Class A1AR, (3-mo. LIBOR US + 0.96%), 6.22%, 07/15/30 |
1,000 | 987,956 | ||||||
Series 2017-14A, Class A2, (3-mo. LIBOR US + 1.50%), 6.88%, 11/20/30 |
1,620 | 1,589,111 | ||||||
Octagon 54 Ltd., Series 2021-1A, Class D, (3‑mo. LIBOR US + 3.05%), 8.31%, 07/15/34(a)(b) |
250 | 231,769 | ||||||
Octagon Investment Partners XV Ltd., Series 2013-1A, Class A1RR, (3-mo. LIBOR US + 0.97%), 6.24%, 07/19/30(a)(b) |
2,722 | 2,705,200 | ||||||
Octagon Investment Partners XVII Ltd., Series 2013-1A, Class BR2, (3-mo. LIBOR US + 1.40%), 6.66%, 01/25/31(a)(b) |
500 | 486,556 | ||||||
Octagon Investment Partners XXI Ltd., Series 2014-1A, Class AAR3, (3-mo. LIBOR US + 1.00%), 6.32%, 02/14/31(a)(b) |
250 | 247,095 | ||||||
Octagon Investment Partners XXII Ltd., Series 2014-1A, Class DRR, (3-mo. LIBOR US + 2.75%), 8.02%, 01/22/30(a)(b) |
500 | 458,959 | ||||||
OneMain Financial Issuance Trust, Series 2020-1A, Class A, 3.84%, 05/14/32(b) |
330 | 328,799 | ||||||
OZLM VIII Ltd., Series 2014-8A, Class CRR, (3‑mo. LIBOR US + 3.15%), 8.41%, 10/17/29(a)(b) |
875 | 851,792 | ||||||
OZLM XXI Ltd., Series 2017-21A, Class C, (3‑mo. LIBOR US + 2.67%), 7.92%, 01/20/31(a)(b) |
1,000 | 901,792 | ||||||
Palmer Square CLO Ltd.(a)(b) |
||||||||
Series 2013-2A, Class A2R3, (3-mo. LIBOR US + 1.50%), 6.76%, 10/17/31 |
250 | 247,407 | ||||||
Series 2015-2A, Class CR2, (3-mo. LIBOR US + 2.75%), 8.00%, 07/20/30 |
250 | 240,235 | ||||||
Series 2020-3A, Class A2R, (3-mo. LIBOR US + 1.60%), 6.92%, 11/15/31 |
250 | 247,367 | ||||||
Series 2022-4A, Class C, (3-mo. CME Term SOFR + 4.00%), 9.05%, 10/20/35 |
1,000 | 1,014,929 | ||||||
Palmer Square Loan Funding Ltd.(a)(b) |
||||||||
Series 2020-1A, Class C, (3-mo. LIBOR US + 2.50%), 7.88%, 02/20/28 |
250 | 244,771 | ||||||
Series 2021-1A, Class A1, (3-mo. LIBOR US + 0.90%), 6.15%, 04/20/29 |
122 | 120,922 | ||||||
Series 2021-2A, Class A1, (3-mo. LIBOR US + 0.80%), 6.18%, 05/20/29 |
143 | 141,391 | ||||||
Series 2021-3A, Class A1, (3-mo. LIBOR US + 0.80%), 6.05%, 07/20/29 |
488 | 483,723 | ||||||
Park Avenue Institutional Advisers CLO Ltd., Series 2017- 1A, Class DR, (3-mo. LIBOR US + 6.81%), 12.13%, 02/14/34(a)(b) |
1,300 | 1,093,905 |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
|
|||||||
PPM CLO 2 Ltd., Series 2019-2A, Class DR, (3‑mo. LIBOR US + 3.40%), 8.67%, 04/16/32(a)(b) |
USD | 250 | $ | 229,273 | ||||
Prodigy Finance DAC, Series 2021-1A, Class C, (1-mo. Term SOFR + 3.86%), 8.95%, 07/25/51(a)(b) |
153 | 151,827 | ||||||
Rad CLO 3 Ltd., Series 2019-3A, Class DR, (3‑mo. LIBOR US + 2.75%), 8.01%, 04/15/32(a)(b) |
400 | 375,138 | ||||||
Regatta XI Funding Ltd., Series 2018-1A, Class D, (3-mo. LIBOR US + 2.85%), 8.11%, 07/17/31(a)(b) |
370 | 352,537 | ||||||
Regatta XVIII Funding Ltd., Series 2021-1A, Class B, (3-mo. LIBOR US + 1.45%), 6.71%, 01/15/34(a)(b) |
850 | 831,188 | ||||||
Regional Management Issuance Trust, Series 2021-A, Class A, 7.10%, 11/17/32(b) |
200 | 201,028 | ||||||
Republic Finance Issuance Trust, Series 2020-A, Class C, 4.05%, 11/20/30(b) |
240 | 218,662 | ||||||
Romark CLO Ltd., Series 2017-1A, Class B, (3‑mo. LIBOR US + 2.15%), 7.42%, 10/23/30(a)(b) |
500 | 482,585 | ||||||
Shackleton CLO Ltd., Series 2015-7RA, Class C, (3-mo. LIBOR US + 2.35%), 7.61%, 07/15/31(a)(b) |
250 | 243,911 | ||||||
Signal Peak CLO 4 Ltd., Series 2017-4A, Class XR, (3-mo. LIBOR US + 0.95%), 6.22%, 10/26/34(a)(b) |
1,200 | 1,199,529 | ||||||
SMB Private Education Loan Trust |
||||||||
(30-day Avg SOFR + 1.80%), 7.20%, 10/15/56 |
243 | 243,526 | ||||||
Series 2019-A, Class A2A, 3.44%, 07/15/36(b) |
1,465 | 1,393,441 | ||||||
Series 2019-B, Class A2A, 2.84%, 06/15/37(b) |
283 | 263,610 | ||||||
Series 2021-A, Class A2B, 1.59%, 01/15/53(b) |
396 | 343,254 | ||||||
Series 2021-C, Class C, 3.00%, 01/15/53(b) |
190 | 165,107 | ||||||
Series 2021-C, Class D, 3.93%, 01/15/53(b) |
160 | 146,736 | ||||||
Series 2022-C, Class A1A, 4.48%, 05/16/50(b) |
375 | 358,535 | ||||||
Sterling COOFS Trust(c) |
||||||||
Series 2004-1, Class A, 2.36%, 04/15/29 |
736 | 7,356 | ||||||
Series 2004-2, Class Note, 2.08%, 03/30/30(b) |
608 | 6,078 | ||||||
Structured Asset Securities Corp. Pass-Through Certificates, Series 2002-AL1, Class A2, 3.45%, 02/25/32 |
42 | 37,033 | ||||||
Symphony CLO XXXII Ltd., Series 2022-32A, Class B, (3-mo. CME Term SOFR + 1.85%), 6.92%, 04/23/35(a)(b) |
600 | 589,092 | ||||||
TCI-Symphony CLO Ltd., Series 2017-1A, Class AR, (3-mo. LIBOR US + 0.93%), 6.19%, 07/15/30(a)(b) |
496 | 490,874 | ||||||
TCW CLO Ltd., Series 2020-1A, Class DRR, (3‑mo. LIBOR US + 3.40%), 8.65%, 04/20/34(a)(b) |
250 | 225,294 | ||||||
TICP CLO IX Ltd., Series 2017-9A, Class D, (3‑mo. LIBOR US + 2.90%), 8.15%, 01/20/31(a)(b) |
500 | 483,871 | ||||||
TICP CLO XV Ltd., Series 2020-15A, Class D, (3-mo. LIBOR US + 3.15%), 8.40%, 04/20/33(a)(b) |
250 | 240,337 | ||||||
Trestles CLO Ltd.(a)(b) |
||||||||
Series 2017-1A, Class B1R, (3-mo. LIBOR US + 1.75%), 7.01%, 04/25/32 |
1,750 | 1,704,537 | ||||||
Series 2017-1A, Class CR, (3-mo. LIBOR US + 2.90%), 8.16%, 04/25/32 |
250 | 232,250 | ||||||
Trimaran CAVU Ltd. |
||||||||
(3-mo. Term SOFR + 9.08%), 14.15%, 10/22/35 |
500 | 499,512 | ||||||
Series 2019-2A, Class C, (3-mo. LIBOR US + 4.72%), 9.98%, 11/26/32(a)(b) |
500 | 478,304 | ||||||
Series 2021-2A, Class D1, (3-mo. LIBOR US + 3.25%), 8.51%, 10/25/34(a)(b) |
500 | 478,488 | ||||||
Series 2022-2A, Class D, (3-mo. CME Term SOFR + 6.12%), 11.17%, 01/20/36(a)(b) |
400 | 400,100 | ||||||
Unique Pub Finance Co. PLC, Series N, 6.46%, 03/30/32(d) |
GBP | 6 | 7,301 |
S C H E D U L E O F I N V E S T M E N T S |
17 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
|
|||||||
Voya CLO Ltd.(a)(b) |
||||||||
Series 2014-2A, Class A1RR, (3-mo. LIBOR US + 1.02%), 6.28%, 04/17/30 |
USD | 208 | $ | 206,716 | ||||
Series 2017-2A, Class A2AR, (3-mo. LIBOR US + 1.65%), 6.91%, 06/07/30 |
250 | 244,394 | ||||||
Series 2017-4A, Class A1, (3-mo. LIBOR US + 1.13%), 6.39%, 10/15/30 |
227 | 225,833 | ||||||
Series 2018-2A, Class A2, (3-mo. LIBOR US + 1.25%), 6.51%, 07/15/31 |
1,000 | 965,533 | ||||||
Series 2022-3A, Class B, (3-mo. CME Term SOFR + 2.85%), 7.90%, 10/20/34 |
425 | 421,744 | ||||||
Series 2022-4A, Class C, (3-mo. CME Term SOFR + 4.05%), 9.10%, 10/20/33 |
1,000 | 1,004,033 | ||||||
Whetstone Park CLO Ltd., Series 2021-1A, Classs 1A, (3-mo. LIBOR US + 1.60%), 6.85%, 01/20/35(a)(b) |
725 | 719,222 | ||||||
Whitebox CLO I Ltd., Series 2019-1A, Class CR, (3-mo. LIBOR US + 3.05%), 8.32%, 07/24/32(a)(b) |
500 | 481,440 | ||||||
Whitebox CLO II Ltd., Series 2020-2A, Class DR, (3-mo. LIBOR US + 3.35%), 8.62%, 10/24/34(a)(b) |
500 | 478,425 | ||||||
Whitebox CLO III Ltd.(a)(b) |
||||||||
Series 2021-3A, Class D, (3-mo. LIBOR US + 3.35%), 8.61%, 10/15/34 |
250 | 238,807 | ||||||
Series 2021-3A, Class E, (3-mo. LIBOR US + 6.85%), 12.11%, 10/15/34 |
250 | 239,407 | ||||||
York CLO 1 Ltd.(a)(b) |
||||||||
Series 2014-1A, Class CRR, (3-mo. LIBOR US + 2.10%), 7.37%, 10/22/29 |
250 | 245,664 | ||||||
Series 2014-1A, Class DRR, (3-mo. LIBOR US + 3.01%), 8.28%, 10/22/29 |
250 | 244,011 | ||||||
|
|
|||||||
Total Asset-Backed Securities — 16.0% (Cost: $97,636,304) |
94,636,692 | |||||||
|
|
|||||||
Corporate Bonds | ||||||||
Aerospace & Defense — 2.7% | ||||||||
Amsted Industries, Inc., 5.63%, 07/01/27(b) |
30 | 29,016 | ||||||
Boeing Co. |
||||||||
2.95%, 02/01/30 |
800 | 695,331 | ||||||
3.60%, 05/01/34 |
550 | 468,071 | ||||||
Bombardier, Inc.(b) |
||||||||
7.50%, 03/15/25 |
15 | 15,026 | ||||||
7.13%, 06/15/26(e) |
846 | 840,300 | ||||||
7.88%, 04/15/27(e) |
395 | 393,983 | ||||||
6.00%, 02/15/28(e) |
667 | 630,384 | ||||||
7.50%, 02/01/29(e) |
303 | 299,469 | ||||||
7.45%, 05/01/34 |
100 | 114,000 | ||||||
Eaton Corp., 4.15%, 11/02/42 |
500 | 444,799 | ||||||
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26(b) |
200 | 181,000 | ||||||
L3Harris Technologies, Inc. |
||||||||
2.90%, 12/15/29 |
1,200 | 1,038,492 | ||||||
1.80%, 01/15/31 |
300 | 237,437 | ||||||
Lockheed Martin Corp., 3.80%, 03/01/45 |
800 | 674,068 | ||||||
Northrop Grumman Corp. |
||||||||
4.70%, 03/15/33 |
400 | 392,565 | ||||||
3.85%, 04/15/45 |
850 | 692,676 | ||||||
Raytheon Technologies Corp. |
||||||||
2.38%, 03/15/32 |
1,000 | 819,330 | ||||||
5.15%, 02/27/33 |
900 | 912,302 | ||||||
4.50%, 06/01/42 |
300 | 276,140 |
Security | Par (000) |
Value | ||||||
Aerospace & Defense (continued) | ||||||||
Rolls-Royce PLC, 5.75%, 10/15/27(b) |
USD | 600 | $ | 586,653 | ||||
Spirit AeroSystems, Inc.(b) |
||||||||
7.50%, 04/15/25 |
22 | 21,738 | ||||||
9.38%, 11/30/29 |
435 | 465,700 | ||||||
TransDigm, Inc. |
||||||||
6.25%, 03/15/26(b)(e) |
3,235 | 3,219,190 | ||||||
6.38%, 06/15/26 |
31 | 30,597 | ||||||
6.75%, 08/15/28(b) |
1,708 | 1,714,473 | ||||||
Triumph Group, Inc., 9.00%, 03/15/28(b) |
631 | 644,276 | ||||||
|
|
|||||||
15,837,016 | ||||||||
Automobile Components — 0.7% | ||||||||
Aptiv PLC, 4.40%, 10/01/46 |
465 | 360,033 | ||||||
Clarios Global LP, 6.75%, 05/15/25(b) |
237 | 237,145 | ||||||
Clarios Global LP/Clarios U.S. Finance Co. |
||||||||
4.38%, 05/15/26(d) |
EUR | 200 | 207,677 | |||||
6.25%, 05/15/26(b)(e) |
USD | 743 | 738,215 | |||||
8.50%, 05/15/27(b) |
1,562 | 1,564,556 | ||||||
6.75%, 05/15/28 |
538 | 536,118 | ||||||
Dana Financing Luxembourg SARL, 8.50%, 07/15/31(d) |
EUR | 100 | 112,557 | |||||
Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28(b) |
USD | 111 | 101,117 | |||||
Forvia, 3.75%, 06/15/28(d) |
EUR | 100 | 98,794 | |||||
Goodyear Tire & Rubber Co. |
||||||||
5.00%, 07/15/29(e) |
USD | 78 | 70,336 | |||||
5.63%, 04/30/33 |
81 | 70,516 | ||||||
ZF Finance GmbH, 3.75%, 09/21/28(d) |
EUR | 100 | 97,966 | |||||
|
|
|||||||
4,195,030 | ||||||||
Automobiles — 1.0% | ||||||||
Ford Motor Co. |
||||||||
4.35%, 12/08/26 |
USD | 7 | 6,765 | |||||
3.25%, 02/12/32(e) |
315 | 247,806 | ||||||
6.10%, 08/19/32 |
126 | 122,114 | ||||||
4.75%, 01/15/43 |
2,000 | 1,537,628 | ||||||
Ford Motor Credit Co. LLC |
||||||||
2.75%, 06/14/24 |
GBP | 100 | 121,241 | |||||
4.39%, 01/08/26 |
USD | 200 | 189,281 | |||||
4.95%, 05/28/27(e) |
200 | 188,657 | ||||||
4.87%, 08/03/27 |
EUR | 100 | 106,959 | |||||
6.80%, 05/12/28 |
USD | 389 | 389,357 | |||||
7.35%, 03/06/30 |
200 | 204,248 | ||||||
3.63%, 06/17/31 |
300 | 245,887 | ||||||
General Motors Co., 6.25%, 10/02/43 |
2,506 | 2,450,620 | ||||||
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(b) |
120 | 95,282 | ||||||
RCI Banque SA, (5-year EUR Swap + 2.85%), 2.63%, 02/18/30(a)(d) |
EUR | 100 | 101,272 | |||||
|
|
|||||||
6,007,117 | ||||||||
Banks — 1.3% | ||||||||
Banco Bilbao Vizcaya Argentaria SA, (5-year USD Swap + 3.87%), 6.13%(a)(f) |
USD | 2,000 | 1,675,800 | |||||
Banco BPM SpA, (3-mo. EURIBOR + 2.80%), 6.00%, 06/14/28 |
EUR | 150 | 162,540 | |||||
Banco de Sabadell SA, (1-year EUR Swap + 2.40%), 5.25%, 02/07/29(a)(d) |
100 | 106,803 | ||||||
Bangkok Bank PCL, (5-year CMT + 4.73%), 5.00% |
USD | 200 | 189,676 | |||||
Bank Negara Indonesia Persero Tbk PT, 3.75%, 03/30/26(d)(e) |
252 | 232,253 | ||||||
Bank of Communications Co. Ltd., (5-year CMT + 3.35%), 3.80%(a)(d)(f) |
518 | 496,948 | ||||||
Citigroup, Inc., (1-day SOFR + 2.66%), 6.17%, 05/25/34 |
290 | 292,527 |
18 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Banks (continued) | ||||||||
Credit Suisse AG/New York, 5.00%, 07/09/27 |
USD | 900 | $ | 868,852 | ||||
Krung Thai Bank PCL, (5-year CMT + 3.53%), 4.40%(a)(d)(e)(f) |
252 | 231,238 | ||||||
Standard Chartered PLC, (5-year USD ICE Swap + 1.97%), 4.87%, 03/15/33(a)(b) |
500 | 452,000 | ||||||
Wells Fargo & Co. 5.39%, 04/24/34 |
1,124 | 1,116,822 | ||||||
(1-day SOFR + 2.53%), 3.07%, 04/30/41(a)(e) |
2,250 | 1,654,911 | ||||||
|
|
|||||||
7,480,370 | ||||||||
Beverages — 1.7% | ||||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46(e) |
4,600 | 4,396,638 | ||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27(b)(g) |
701 | 567,912 | ||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC(b) |
||||||||
6.00%, 06/15/27 |
372 | 365,440 | ||||||
3.25%, 09/01/28 |
200 | 171,794 | ||||||
4.00%, 09/01/29(e) |
866 | 685,867 | ||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. |
||||||||
5.25%, 04/30/25(b) |
200 | 195,619 | ||||||
2.13%, 08/15/26(d) |
EUR | 200 | 193,709 | |||||
5.25%, 08/15/27(b) |
USD | 202 | 171,110 | |||||
Ball Corp., 6.00%, 06/15/29(e) |
129 | 128,032 | ||||||
Crown Americas LLC, 5.25%, 04/01/30 |
91 | 86,541 | ||||||
Keurig Dr. Pepper, Inc., 2.25%, 03/15/31 |
400 | 329,022 | ||||||
Mauser Packaging Solutions Holding Co.(b) |
||||||||
7.88%, 08/15/26 |
2,077 | 2,063,517 | ||||||
9.25%, 04/15/27 |
66 | 60,918 | ||||||
Owens-Brockway Glass Container, Inc., 6.63%, 05/13/27(b) |
27 | 26,735 | ||||||
Trivium Packaging Finance BV(b) |
||||||||
5.50%, 08/15/26 |
305 | 292,847 | ||||||
8.50%, 08/15/27 |
536 | 515,963 | ||||||
|
|
|||||||
10,251,664 | ||||||||
Biotechnology — 0.6% | ||||||||
Amgen, Inc. |
||||||||
4.20%, 03/01/33 |
1,000 | 933,228 | ||||||
5.25%, 03/02/33(e) |
600 | 600,765 | ||||||
4.40%, 05/01/45 |
650 | 562,972 | ||||||
Baxalta, Inc., 5.25%, 06/23/45 |
500 | 492,820 | ||||||
Cidron Aida Finco SARL, 5.00%, 04/01/28(d) |
EUR | 100 | 98,632 | |||||
Gilead Sciences, Inc., 4.80%, 04/01/44 |
USD | 1,000 | 954,568 | |||||
|
|
|||||||
3,642,985 | ||||||||
Broadline Retail — 0.2% | ||||||||
Amazon.com, Inc., 4.05%, 08/22/47(e) |
1,500 | 1,345,439 | ||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26(b) |
44 | 40,955 | ||||||
|
|
|||||||
1,386,394 | ||||||||
Building Materials — 0.6% | ||||||||
Camelot Return Merger Sub, Inc., 8.75%, 08/01/28(b) |
146 | 137,969 | ||||||
Emerald Debt Merger Sub LLC |
||||||||
6.38%, 12/15/30(d) |
EUR | 100 | 108,711 | |||||
6.63%, 12/15/30(b) |
USD | 1,738 | 1,722,792 | |||||
Jeld-Wen, Inc.(b) |
||||||||
6.25%, 05/15/25 |
98 | 98,857 | ||||||
4.63%, 12/15/25 |
78 | 75,562 |
Security | Par (000) |
Value | ||||||
Building Materials (continued) | ||||||||
Masonite International Corp., Class C, 5.38%, 02/01/28(b) |
USD | 17 | $ | 16,205 | ||||
New Enterprise Stone & Lime Co., Inc.(b) |
||||||||
5.25%, 07/15/28 |
55 | 50,052 | ||||||
9.75%, 07/15/28 |
26 | 25,082 | ||||||
Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/28(b) |
520 | 490,383 | ||||||
Standard Industries, Inc.(b) |
||||||||
5.00%, 02/15/27 |
25 | 23,826 | ||||||
4.75%, 01/15/28 |
62 | 57,737 | ||||||
4.38%, 07/15/30 |
559 | 484,148 | ||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(b) |
19 | 17,951 | ||||||
|
|
|||||||
3,309,275 | ||||||||
Building Products — 1.2% | ||||||||
Advanced Drainage Systems, Inc.(b) |
||||||||
5.00%, 09/30/27 |
269 | 254,585 | ||||||
6.38%, 06/15/30 |
339 | 335,363 | ||||||
Beacon Roofing Supply, Inc., 4.13%, 05/15/29(b) |
86 | 76,110 | ||||||
Foundation Building Materials, Inc., 6.00%, 03/01/29(b) |
47 | 39,245 | ||||||
GYP Holdings III Corp., 4.63%, 05/01/29(b) |
253 | 222,640 | ||||||
Home Depot, Inc., 5.88%, 12/16/36 |
1,660 | 1,807,206 | ||||||
Lowe’s Cos., Inc. |
||||||||
1.70%, 10/15/30 |
800 | 641,039 | ||||||
5.00%, 04/15/33(e) |
1,000 | 989,166 | ||||||
4.38%, 09/15/45 |
1,000 | 836,614 | ||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26(b) |
56 | 52,909 | ||||||
SRS Distribution, Inc.(b) |
||||||||
4.63%, 07/01/28 |
345 | 308,007 | ||||||
6.13%, 07/01/29(e) |
340 | 293,635 | ||||||
6.00%, 12/01/29(e) |
423 | 365,070 | ||||||
White Cap Buyer LLC, 6.88%, 10/15/28(b)(e) |
855 | 774,844 | ||||||
White Cap Parent LLC, (8.25% Cash or 9.00% PIK), 8.25%, 03/15/26(b)(g) |
142 | 136,026 | ||||||
|
|
|||||||
7,132,459 | ||||||||
Capital Markets — 1.4% | ||||||||
Blackstone Private Credit Fund |
||||||||
7.05%, 09/29/25 |
56 | 55,855 | ||||||
3.25%, 03/15/27 |
53 | 45,798 | ||||||
Charles Schwab Corp., Series H, (10-year CMT + 3.08%), 4.00%(a)(f) |
3,000 | 2,189,250 | ||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29(b) |
129 | 113,071 | ||||||
FMR LLC, 4.95%, 02/01/33(b) |
2,300 | 2,180,288 | ||||||
GLP Capital LP/GLP Financing II, Inc., 3.25%, 01/15/32 |
379 | 306,010 | ||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
||||||||
6.25%, 05/15/26(e) |
125 | 113,764 | ||||||
5.25%, 05/15/27 |
356 | 307,014 | ||||||
4.38%, 02/01/29 |
226 | 177,568 | ||||||
MDGH GMTN RSC Ltd., 4.38%, 11/22/33 |
200 | 193,000 | ||||||
Morgan Stanley, (5-year CMT + 2.43%), 5.95%, 01/19/38(a) |
70 | 69,093 | ||||||
NFP Corp.(b) |
||||||||
4.88%, 08/15/28 |
517 | 461,777 | ||||||
6.88%, 08/15/28 |
1,279 | 1,110,198 | ||||||
7.50%, 10/01/30 |
74 | 71,647 | ||||||
Northern Trust Corp., 6.13%, 11/02/32 |
160 | 165,879 | ||||||
Owl Rock Capital Corp. 3.75%, 07/22/25 |
129 | 119,537 |
S C H E D U L E O F I N V E S T M E N T S |
19 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Capital Markets (continued) | ||||||||
Owl Rock Capital Corp. (continued) |
||||||||
3.40%, 07/15/26 |
USD | 46 | $ | 40,745 | ||||
Owl Rock Core Income Corp. |
||||||||
3.13%, 09/23/26 |
31 | 26,713 | ||||||
7.75%, 09/16/27(b) |
215 | 213,912 | ||||||
Raymond James Financial, Inc., 4.95%, 07/15/46 |
400 | 360,744 | ||||||
SURA Asset Management SA, 4.88%, 04/17/24(d) |
178 | 175,330 | ||||||
|
|
|||||||
8,497,193 | ||||||||
Chemicals — 1.0% | ||||||||
Avient Corp., 7.13%, 08/01/30(b) |
74 | 74,845 | ||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29(b) |
348 | 296,235 | ||||||
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27(b)(e) |
242 | 228,097 | ||||||
Braskem Idesa SAPI, 6.99%, 02/20/32(b) |
200 | 128,000 | ||||||
Chemours Co.(b) |
||||||||
5.75%, 11/15/28 |
31 | 28,486 | ||||||
4.63%, 11/15/29 |
118 | 99,724 | ||||||
Element Solutions, Inc., 3.88%, 09/01/28(b) |
975 | 850,567 | ||||||
HB Fuller Co., 4.25%, 10/15/28 |
74 | 65,863 | ||||||
Herens Holdco SARL, 4.75%, 05/15/28(b) |
200 | 155,000 | ||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(b)(e) |
220 | 191,699 | ||||||
Kobe U.S. Midco 2, Inc., (9.25% Cash or 10.00% PIK), 9.25%, 11/01/26(b)(g) |
176 | 116,160 | ||||||
LSF11 A5 HoldCo LLC, 6.63%, 10/15/29(b) |
90 | 75,168 | ||||||
Olympus Water U.S. Holding Corp. |
||||||||
9.63%, 11/15/28(d) |
EUR | 100 | 104,755 | |||||
9.75%, 11/15/28(b) |
USD | 363 | 354,034 | |||||
Sasol Financing USA LLC, 6.50%, 09/27/28 |
200 | 178,900 | ||||||
SCIL IV LLC/SCIL USA Holdings LLC, 5.38%, 11/01/26(b)(e) |
400 | 364,656 | ||||||
Sherwin-Williams Co., 4.50%, 06/01/47 |
350 | 306,440 | ||||||
SK Invictus Intermediate II SARL, 5.00%, 10/30/29(b) |
311 | 247,130 | ||||||
WESCO Distribution, Inc.(b) |
||||||||
7.13%, 06/15/25 |
117 | 118,233 | ||||||
7.25%, 06/15/28(e) |
590 | 601,833 | ||||||
WR Grace Holdings LLC(b) |
||||||||
4.88%, 06/15/27 |
105 | 97,380 | ||||||
5.63%, 08/15/29(e) |
987 | 808,649 | ||||||
7.38%, 03/01/31 |
140 | 137,197 | ||||||
|
|
|||||||
5,629,051 | ||||||||
Commercial Services & Supplies — 0.8% | ||||||||
ADT Security Corp.(b) |
||||||||
4.13%, 08/01/29 |
19 | 16,411 | ||||||
4.88%, 07/15/32 |
27 | 23,085 | ||||||
Albion Financing 1 SARL/Aggreko Holdings, Inc., 6.13%, 10/15/26(b) |
200 | 188,000 | ||||||
APX Group, Inc.(b) |
||||||||
6.75%, 02/15/27 |
123 | 120,538 | ||||||
5.75%, 07/15/29 |
181 | 157,090 | ||||||
BCP V Modular Services Finance II PLC, 4.75%, 11/30/28(d) |
EUR | 100 | 92,725 | |||||
Cablevision Lightpath LLC, 3.88%, 09/15/27(b) |
USD | 220 | 184,250 | |||||
Fortress Transportation and Infrastructure Investors LLC(b) |
||||||||
6.50%, 10/01/25 |
379 | 373,377 | ||||||
9.75%, 08/01/27 |
131 | 135,293 | ||||||
5.50%, 05/01/28(e) |
433 | 396,196 | ||||||
Garda World Security Corp., 9.50%, 11/01/27(b) |
46 | 44,440 |
Security | Par (000) |
Value | ||||||
Commercial Services & Supplies (continued) | ||||||||
Herc Holdings, Inc., 5.50%, 07/15/27(b)(e) |
USD | 333 | $ | 319,063 | ||||
Hertz Corp.(b) |
||||||||
4.63%, 12/01/26 |
85 | 76,713 | ||||||
5.00%, 12/01/29 |
70 | 57,864 | ||||||
LABL, Inc., 9.50%, 11/01/28(b) |
301 | 306,233 | ||||||
Metis Merger Sub LLC, 6.50%, 05/15/29(b) |
82 | 70,734 | ||||||
NESCO Holdings II, Inc., 5.50%, 04/15/29(b) |
146 | 130,670 | ||||||
Prime Security Services Borrower LLC/Prime Finance, Inc.(b) |
||||||||
5.75%, 04/15/26 |
209 | 205,160 | ||||||
6.25%, 01/15/28(e) |
172 | 161,130 | ||||||
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29(b)(e) |
400 | 311,000 | ||||||
United Rentals North America, Inc., 6.00%, 12/15/29(b) |
1,223 | 1,219,992 | ||||||
Verisure Holding AB, 9.25%, 10/15/27(d) |
EUR | 100 | 115,940 | |||||
Williams Scotsman International, Inc., 6.13%, 06/15/25(b) |
USD | 175 | 173,702 | |||||
|
|
|||||||
4,879,606 | ||||||||
Communications Equipment(b) — 0.2% | ||||||||
CommScope Technologies LLC, 6.00%, 06/15/25(e) |
530 | 493,997 | ||||||
CommScope, Inc. |
||||||||
8.25%, 03/01/27 |
96 | 76,798 | ||||||
7.13%, 07/01/28 |
171 | 121,410 | ||||||
4.75%, 09/01/29(e) |
355 | 279,882 | ||||||
Viasat, Inc., 5.63%, 09/15/25 |
320 | 310,077 | ||||||
|
|
|||||||
1,282,164 | ||||||||
Construction & Engineering — 0.7% | ||||||||
ITR Concession Co. LLC, 4.20%, 07/15/25(b) |
4,000 | 3,834,363 | ||||||
|
|
|||||||
Construction Materials(b) — 0.1% | ||||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27 |
210 | 195,301 | ||||||
Resideo Funding, Inc., 4.00%, 09/01/29 |
42 | 34,843 | ||||||
Ritchie Bros Holdings, Inc., 6.75%, 03/15/28 |
56 | 56,444 | ||||||
|
|
|||||||
286,588 | ||||||||
Consumer Discretionary — 1.1% | ||||||||
Carnival Corp.(b) |
||||||||
10.50%, 02/01/26 |
387 | 406,820 | ||||||
7.63%, 03/01/26(e) |
103 | 100,878 | ||||||
5.75%, 03/01/27 |
804 | 740,154 | ||||||
9.88%, 08/01/27 |
223 | 232,284 | ||||||
4.00%, 08/01/28 |
285 | 252,658 | ||||||
6.00%, 05/01/29 |
425 | 379,455 | ||||||
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/28(b) |
1,129 | 1,234,820 | ||||||
CoreLogic, Inc., 4.50%, 05/01/28(b)(e) |
480 | 387,000 | ||||||
Life Time, Inc.(b) |
||||||||
5.75%, 01/15/26 |
231 | 225,117 | ||||||
8.00%, 04/15/26 |
178 | 175,754 | ||||||
Lindblad Expeditions LLC, 6.75%, 02/15/27(b) |
208 | 198,120 | ||||||
NCL Corp. Ltd.(b) |
||||||||
5.88%, 03/15/26 |
210 | 196,468 | ||||||
8.38%, 02/01/28 |
95 | 99,270 | ||||||
7.75%, 02/15/29 |
46 | 43,691 | ||||||
NCL Finance Ltd., 6.13%, 03/15/28(b) |
177 | 159,303 | ||||||
Neptune Bidco U.S., Inc., 9.29%, 04/15/29(b) |
59 | 54,163 | ||||||
Royal Caribbean Cruises Ltd.(b) |
||||||||
11.50%, 06/01/25 |
59 | 62,599 | ||||||
5.50%, 08/31/26 |
93 | 88,174 | ||||||
5.38%, 07/15/27 |
138 | 129,038 | ||||||
11.63%, 08/15/27 |
124 | 134,843 | ||||||
5.50%, 04/01/28 |
121 | 112,837 | ||||||
8.25%, 01/15/29 |
136 | 142,800 |
20 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Consumer Discretionary (continued) | ||||||||||||
Royal Caribbean Cruises Ltd.(b) (continued) |
||||||||||||
9.25%, 01/15/29 |
USD | 186 | $ | 198,167 | ||||||||
7.25%, 01/15/30 |
192 | 194,466 | ||||||||||
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 07/30/26(d) |
EUR | 88 | 93,945 | |||||||||
Viking Cruises Ltd.(b) |
||||||||||||
5.88%, 09/15/27 |
USD | 95 | 87,316 | |||||||||
9.13%, 07/15/31 |
410 | 414,100 | ||||||||||
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29(b) |
111 | 101,565 | ||||||||||
|
|
|||||||||||
6,645,805 | ||||||||||||
Consumer Finance — 0.9% | ||||||||||||
Block, Inc.(e) |
||||||||||||
2.75%, 06/01/26 |
446 | 406,080 | ||||||||||
3.50%, 06/01/31 |
620 | 513,498 | ||||||||||
Capital One Financial Corp.(a) |
||||||||||||
(1-day SOFR + 2.60%), 5.82%, 02/01/34 |
440 | 419,793 | ||||||||||
(1-day SOFR + 2.64%), 6.31%, 06/08/29 |
95 | 94,360 | ||||||||||
(1-day SOFR + 2.86%), 6.38%, 06/08/34 |
70 | 69,498 | ||||||||||
Discover Financial Services, 6.70%, 11/29/32 |
65 | 66,965 | ||||||||||
Ford Motor Credit Co. LLC, 7.20%, 06/10/30 |
236 | 238,174 | ||||||||||
Global Payments, Inc. |
||||||||||||
3.20%, 08/15/29 |
400 | 347,674 | ||||||||||
5.40%, 08/15/32 |
172 | 167,603 | ||||||||||
Moody’s Corp., 2.75%, 08/19/41 |
350 | 245,610 | ||||||||||
Navient Corp. |
||||||||||||
7.25%, 09/25/23 |
28 | 28,000 | ||||||||||
6.13%, 03/25/24 |
51 | 50,601 | ||||||||||
5.88%, 10/25/24 |
39 | 38,328 | ||||||||||
5.50%, 03/15/29 |
30 | 25,577 | ||||||||||
9.38%, 07/25/30 |
101 | 100,460 | ||||||||||
OneMain Finance Corp. |
||||||||||||
6.88%, 03/15/25 |
53 | 52,477 | ||||||||||
7.13%, 03/15/26(e) |
168 | 165,059 | ||||||||||
3.50%, 01/15/27 |
206 | 176,736 | ||||||||||
6.63%, 01/15/28 |
165 | 155,639 | ||||||||||
5.38%, 11/15/29 |
42 | 35,706 | ||||||||||
4.00%, 09/15/30 |
74 | 56,980 | ||||||||||
Sabre Global, Inc.(b)(e) |
||||||||||||
9.25%, 04/15/25 |
124 | 115,642 | ||||||||||
7.38%, 09/01/25 |
168 | 149,118 | ||||||||||
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26(b) |
395 | 370,419 | ||||||||||
Shift4 Payments, Inc., 0.00%, 12/15/25(h)(i) |
112 | 121,632 | ||||||||||
Verscend Escrow Corp., 9.75%, 08/15/26(b)(e) |
1,355 | 1,359,190 | ||||||||||
|
|
|||||||||||
5,570,819 | ||||||||||||
Consumer Staples Distribution & Retail — 0.5% | ||||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(b) |
||||||||||||
3.25%, 03/15/26 |
41 | 37,866 | ||||||||||
7.50%, 03/15/26 |
65 | 66,102 | ||||||||||
4.63%, 01/15/27 |
222 | 210,346 | ||||||||||
5.88%, 02/15/28 |
219 | 212,811 | ||||||||||
6.50%, 02/15/28 |
109 | 109,181 | ||||||||||
3.50%, 03/15/29 |
69 | 59,729 | ||||||||||
4.88%, 02/15/30(e) |
194 | 179,105 | ||||||||||
Bellis Acquisition Co. PLC, 3.25%, 02/16/26(d) |
GBP | 100 | 106,046 | |||||||||
Darling Ingredients, Inc., 6.00%, 06/15/30(b) |
USD | 297 | 290,066 | |||||||||
Kraft Heinz Foods Co. |
||||||||||||
5.00%, 06/04/42 |
500 | 467,912 |
Security | Par (000) |
Value | ||||||||||
Consumer Staples Distribution & Retail (continued) | ||||||||||||
Kraft Heinz Foods Co. (continued) |
||||||||||||
4.38%, 06/01/46 |
USD | 200 | $ | 169,971 | ||||||||
Lamb Weston Holdings, Inc.(b) |
||||||||||||
4.88%, 05/15/28 |
229 | 219,322 | ||||||||||
4.13%, 01/31/30(e) |
172 | 153,719 | ||||||||||
4.38%, 01/31/32 |
75 | 66,996 | ||||||||||
Performance Food Group, Inc.(b) |
||||||||||||
5.50%, 10/15/27 |
28 | 26,979 | ||||||||||
4.25%, 08/01/29 |
279 | 248,397 | ||||||||||
Post Holdings, Inc.(b) |
||||||||||||
4.63%, 04/15/30 |
159 | 139,341 | ||||||||||
4.50%, 09/15/31 |
9 | 7,686 | ||||||||||
U.S. Foods, Inc.(b) |
||||||||||||
4.75%, 02/15/29 |
290 | 265,509 | ||||||||||
4.63%, 06/01/30 |
27 | 24,198 | ||||||||||
United Natural Foods, Inc., 6.75%, 10/15/28(b) |
24 | 19,893 | ||||||||||
|
|
|||||||||||
3,081,175 | ||||||||||||
Containers & Packaging — 0.4% | ||||||||||||
Clydesdale Acquisition Holdings, Inc.(b) |
||||||||||||
6.63%, 04/15/29 |
591 | 563,636 | ||||||||||
8.75%, 04/15/30 |
382 | 337,200 | ||||||||||
Crown European Holdings SA, 5.00%, 05/15/28 |
EUR | 100 | 110,075 | |||||||||
International Paper Co., 6.00%, 11/15/41 |
USD | 870 | 891,822 | |||||||||
LABL, Inc., 5.88%, 11/01/28(b) |
148 | 134,603 | ||||||||||
OI European Group BV, 6.25%, 05/15/28 |
EUR | 100 | 111,416 | |||||||||
Owens-Brockway Glass Container, Inc., 7.25%, 05/15/31 |
USD | 158 | 159,975 | |||||||||
Sealed Air Corp./Sealed Air Corp. U.S., 6.13%, 02/01/28(b) |
113 | 112,167 | ||||||||||
|
|
|||||||||||
2,420,894 | ||||||||||||
Diversified Consumer Services — 0.8% | ||||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp.(b)(e) |
||||||||||||
6.63%, 07/15/26 |
605 | 574,111 | ||||||||||
9.75%, 07/15/27 |
249 | 220,104 | ||||||||||
6.00%, 06/01/29 |
898 | 662,639 | ||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL(b) |
||||||||||||
4.63%, 06/01/28 |
571 | 483,334 | ||||||||||
4.63%, 06/01/28(e) |
400 | 336,500 | ||||||||||
Clarivate Science Holdings Corp.(b) |
||||||||||||
3.88%, 07/01/28 |
755 | 669,267 | ||||||||||
4.88%, 07/01/29(e) |
393 | 348,633 | ||||||||||
Garda World Security Corp.(b) |
||||||||||||
4.63%, 02/15/27 |
169 | 154,635 | ||||||||||
7.75%, 02/15/28 |
370 | 367,270 | ||||||||||
Graham Holdings Co., 5.75%, 06/01/26(b) |
27 | 26,460 | ||||||||||
Rekeep SpA, 7.25%, 02/01/26(d) |
EUR | 100 | 102,004 | |||||||||
Sotheby’s, 7.38%, 10/15/27(b)(e) |
USD | 665 | 598,096 | |||||||||
|
|
|||||||||||
4,543,053 | ||||||||||||
Diversified REITs — 1.8% | ||||||||||||
Alexandria Real Estate Equities, Inc. |
||||||||||||
4.75%, 04/15/35 |
140 | 129,897 | ||||||||||
4.00%, 02/01/50 |
550 | 410,196 | ||||||||||
American Tower Corp., 2.90%, 01/15/30(e) |
1,500 | 1,293,751 | ||||||||||
Crown Castle, Inc. |
||||||||||||
2.10%, 04/01/31 |
1,000 | 799,812 | ||||||||||
2.90%, 04/01/41 |
350 | 245,418 | ||||||||||
Equinix, Inc., 2.50%, 05/15/31 |
500 | 407,098 | ||||||||||
ERP Operating LP, 4.50%, 06/01/45 |
1,155 | 969,345 |
S C H E D U L E O F I N V E S T M E N T S |
21 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Diversified REITs (continued) | ||||||||||||
Healthpeak OP LLC, 4.00%, 06/01/25 |
USD | 2,000 | $ | 1,931,807 | ||||||||
Iron Mountain, Inc., 5.63%, 07/15/32(b) |
62 | 55,464 | ||||||||||
MPT Operating Partnership LP/MPT Finance Corp. |
||||||||||||
4.63%, 08/01/29(e) |
345 | 260,806 | ||||||||||
3.50%, 03/15/31 |
634 | 436,837 | ||||||||||
Prologis LP, 4.63%, 01/15/33(e) |
1,000 | 976,247 | ||||||||||
RHP Hotel Properties LP/RHP Finance Corp. |
||||||||||||
4.75%, 10/15/27 |
245 | 228,095 | ||||||||||
7.25%, 07/15/28 |
223 | 225,281 | ||||||||||
Service Properties Trust, 7.50%, 09/15/25 |
64 | 62,848 | ||||||||||
Simon Property Group LP, 4.75%, 03/15/42 |
1,670 | 1,467,800 | ||||||||||
Ventas Realty LP, 4.13%, 01/15/26 |
870 | 832,119 | ||||||||||
VICI Properties LP, 4.95%, 02/15/30 |
138 | 129,455 | ||||||||||
VICI Properties LP/VICI Note Co., Inc., 3.88%, 02/15/29(b) |
34 | 29,837 | ||||||||||
|
|
|||||||||||
10,892,113 | ||||||||||||
Diversified Telecommunication Services — 2.2% | ||||||||||||
AT&T, Inc. |
||||||||||||
6.38%, 03/01/41 |
520 | 553,489 | ||||||||||
5.15%, 03/15/42 |
1,200 | 1,122,182 | ||||||||||
4.75%, 05/15/46(e) |
1,500 | 1,324,030 | ||||||||||
British Telecommunications PLC, (5-year UK Government Bond + 3.82%), 8.38%, 12/20/83 |
GBP | 100 | 124,672 | |||||||||
Level 3 Financing, Inc.(b) |
||||||||||||
3.40%, 03/01/27 |
USD | 748 | 634,678 | |||||||||
10.50%, 05/15/30(e) |
665 | 674,731 | ||||||||||
Lumen Technologies, Inc., 4.00%, 02/15/27(b) |
772 | 575,302 | ||||||||||
SoftBank Group Corp.(d) |
||||||||||||
3.13%, 09/19/25 |
EUR | 100 | 102,300 | |||||||||
3.88%, 07/06/32 |
100 | 82,522 | ||||||||||
Telecom Italia Capital SA |
||||||||||||
6.00%, 09/30/34 |
USD | 189 | 152,420 | |||||||||
7.20%, 07/18/36 |
48 | 41,258 | ||||||||||
7.72%, 06/04/38 |
69 | 61,010 | ||||||||||
Telecom Italia SpA/Milano, 6.88%, 02/15/28(d) |
EUR | 100 | 108,498 | |||||||||
Verizon Communications, Inc., 6.55%, 09/15/43(e) |
USD | 5,000 | 5,521,391 | |||||||||
Zayo Group Holdings, Inc.(b) |
||||||||||||
4.00%, 03/01/27 |
2,034 | 1,436,521 | ||||||||||
6.13%, 03/01/28(e) |
864 | 539,886 | ||||||||||
|
|
|||||||||||
13,054,890 | ||||||||||||
Education — 0.1% | ||||||||||||
Grand Canyon University, 5.13%, 10/01/28 |
702 | 635,661 | ||||||||||
|
|
|||||||||||
Electric Utilities — 4.7% | ||||||||||||
Baltimore Gas and Electric Co. |
||||||||||||
3.50%, 08/15/46 |
800 | 603,551 | ||||||||||
3.75%, 08/15/47 |
500 | 390,394 | ||||||||||
CenterPoint Energy Houston Electric LLC, Series AI, 4.45%, 10/01/32 |
750 | 720,768 | ||||||||||
Cleveland Electric Illuminating Co., 5.95%, 12/15/36 |
434 | 428,300 | ||||||||||
Comision Federal de Electricidad, 4.88%, 01/15/24 |
200 | 197,654 | ||||||||||
Duke Energy Carolinas LLC |
||||||||||||
6.10%, 06/01/37 |
640 | 670,683 | ||||||||||
6.00%, 01/15/38 |
1,675 | 1,754,390 | ||||||||||
Duke Energy Florida LLC |
||||||||||||
6.35%, 09/15/37 |
2,775 | 3,009,225 | ||||||||||
6.40%, 06/15/38 |
770 | 844,544 | ||||||||||
E.ON International Finance BV, 6.65%, 04/30/38(b) |
2,000 | 2,116,316 | ||||||||||
Electricite de France SA(b) |
||||||||||||
5.60%, 01/27/40 |
2,800 | 2,575,178 | ||||||||||
(5-year CMT + 5.41%), 9.13%(a)(f) |
200 | 205,096 |
Security | Par (000) |
Value | ||||||||||
Electric Utilities (continued) | ||||||||||||
Eversource Energy, 2.55%, 03/15/31 |
USD | 350 | $ | 290,857 | ||||||||
FirstEnergy Transmission LLC, 5.45%, 07/15/44(b) |
280 | 258,917 | ||||||||||
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(d) |
576 | 504,495 | ||||||||||
Ohio Power Co., Series D, 6.60%, 03/01/33 |
3,000 | 3,235,432 | ||||||||||
Oncor Electric Delivery Co. LLC |
||||||||||||
4.15%, 06/01/32 |
1,000 | 949,346 | ||||||||||
4.55%, 09/15/32 |
1,000 | 970,421 | ||||||||||
Pacific Gas and Electric Co. |
||||||||||||
6.10%, 01/15/29 |
165 | 162,346 | ||||||||||
6.40%, 06/15/33 |
240 | 238,686 | ||||||||||
6.75%, 01/15/53 |
120 | 118,427 | ||||||||||
PacifiCorp., 6.25%, 10/15/37(e) |
1,225 | 1,224,203 | ||||||||||
San Diego Gas & Electric Co., Series VVV, 1.70%, 10/01/30 |
750 | 599,854 | ||||||||||
Southern California Edison Co., 5.63%, 02/01/36 |
1,300 | 1,285,668 | ||||||||||
Star Energy Geothermal Wayang Windu Ltd., 6.75%, 04/24/33(d)(e) |
211 | 206,702 | ||||||||||
Tierra Mojada Luxembourg II SARL, 5.75%, 12/01/40 |
182 | 155,641 | ||||||||||
Virginia Electric and Power Co., Series A, 6.00%, 05/15/37(e) |
3,920 | 4,078,385 | ||||||||||
Vistra Operations Co. LLC(b) |
||||||||||||
5.50%, 09/01/26 |
12 | 11,547 | ||||||||||
5.00%, 07/31/27 |
12 | 11,232 | ||||||||||
|
|
|||||||||||
27,818,258 | ||||||||||||
Electrical Equipment(b) — 0.2% | ||||||||||||
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 |
406 | 399,506 | ||||||||||
Regal Rexnord Corp. |
||||||||||||
6.05%, 02/15/26 |
65 | 65,082 | ||||||||||
6.05%, 04/15/28 |
411 | 408,003 | ||||||||||
6.30%, 02/15/30 |
145 | 144,571 | ||||||||||
6.40%, 04/15/33 |
150 | 149,873 | ||||||||||
|
|
|||||||||||
1,167,035 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.4% | ||||||||||||
CDW LLC/CDW Finance Corp., 3.25%, 02/15/29 |
191 | 163,655 | ||||||||||
Corning, Inc., 4.38%, 11/15/57(e) |
2,000 | 1,619,918 | ||||||||||
Imola Merger Corp., 4.75%, 05/15/29(b) |
203 | 176,550 | ||||||||||
Vertiv Group Corp., 4.13%, 11/15/28(b) |
412 | 371,201 | ||||||||||
|
|
|||||||||||
2,331,324 | ||||||||||||
Energy Equipment & Services — 0.5% | ||||||||||||
Archrock Partners LP/Archrock Partners Finance Corp.(b) |
||||||||||||
6.88%, 04/01/27 |
331 | 317,760 | ||||||||||
6.25%, 04/01/28 |
347 | 325,785 | ||||||||||
Halliburton Co., 5.00%, 11/15/45(e) |
500 | 452,403 | ||||||||||
Noble Finance II LLC, 8.00%, 04/15/30 |
227 | 230,786 | ||||||||||
USA Compression Partners LP/USA Compression Finance Corp. |
||||||||||||
6.88%, 04/01/26 |
315 | 308,572 | ||||||||||
6.88%, 09/01/27 |
291 | 277,874 | ||||||||||
Valaris Ltd., 8.38%, 04/30/30 |
366 | 367,230 | ||||||||||
Vallourec SA, 8.50%, 06/30/26(d) |
EUR | 23 | 25,074 | |||||||||
Weatherford International Ltd.(b) |
||||||||||||
6.50%, 09/15/28 |
USD | 119 | 119,512 | |||||||||
8.63%, 04/30/30 |
220 | 223,353 | ||||||||||
|
|
|||||||||||
2,648,349 | ||||||||||||
Environmental, Maintenance & Security Service — 0.3% | ||||||||||||
Clean Harbors, Inc., 6.38%, 02/01/31(b) |
77 | 77,482 | ||||||||||
Covanta Holding Corp. |
||||||||||||
4.88%, 12/01/29(b) |
92 | 79,580 |
22 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Environmental, Maintenance & Security Service (continued) | ||||||||||||
Covanta Holding Corp. (continued) |
||||||||||||
5.00%, 09/01/30 |
USD | 48 | $ | 40,710 | ||||||||
GFL Environmental, Inc.(b) |
||||||||||||
3.75%, 08/01/25 |
120 | 114,164 | ||||||||||
4.00%, 08/01/28 |
174 | 155,565 | ||||||||||
3.50%, 09/01/28 |
111 | 98,788 | ||||||||||
4.75%, 06/15/29 |
267 | 243,934 | ||||||||||
4.38%, 08/15/29 |
252 | 224,368 | ||||||||||
Tervita Corp., 11.00%, 12/01/25(b) |
77 | 81,686 | ||||||||||
Waste Management, Inc., 2.95%, 06/01/41 |
350 | 259,290 | ||||||||||
Waste Pro USA, Inc., 5.50%, 02/15/26(b) |
634 | 587,717 | ||||||||||
|
|
|||||||||||
1,963,284 | ||||||||||||
Financial Services — 4.8% | ||||||||||||
Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28(b) |
272 | 210,524 | ||||||||||
ASG Finance Designated Activity Co., 7.88%, 12/03/24(b) |
200 | 192,750 | ||||||||||
Bank of America Corp.(a) |
||||||||||||
(1-day SOFR + 1.99%), 6.20%, 11/10/28 |
248 | 254,907 | ||||||||||
(3-mo. CME Term SOFR + 1.57%), 4.27%, 07/23/29(e) |
4,000 | 3,795,173 | ||||||||||
Barclays PLC, (1-year CMT + 1.05%), 2.28%, 11/24/27(a)(e) |
3,000 | 2,638,987 | ||||||||||
BNP Paribas SA, (5-year CMT + 3.34%), 4.63%(a)(b)(f) |
2,000 | 1,427,500 | ||||||||||
Citigroup, Inc., (1-day SOFR + 2.34%), 6.27%, 11/17/33(a)(e) |
1,567 | 1,663,241 | ||||||||||
Credit Agricole SA, (5-year USD Swap + 4.90%), 7.88%(a)(b)(f) |
1,000 | 988,388 | ||||||||||
Deutsche Bank AG, (1-day SOFR + 3.18%), 6.72%, 01/18/29(a)(e) |
850 | 851,212 | ||||||||||
GGAM Finance Ltd.(b) |
||||||||||||
7.75%, 05/15/26 |
30 | 30,112 | ||||||||||
8.00%, 06/15/28 |
30 | 30,015 | ||||||||||
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24(b)(g) |
225 | 204,823 | ||||||||||
Goldman Sachs Group, Inc.(a) |
||||||||||||
(3-mo. CME Term SOFR + 1.56%), 4.22%, 05/01/29(e) |
4,000 | 3,777,963 | ||||||||||
Series R, (5-year CMT + 3.22%), 4.95%(f) |
333 | 313,929 | ||||||||||
Home Point Capital, Inc., 5.00%, 02/01/26(b) |
582 | 521,812 | ||||||||||
HSBC Holdings PLC |
||||||||||||
6.10%, 01/14/42 |
610 | 645,939 | ||||||||||
(5-year CMT + 3.25%), 4.70%(a)(f) |
275 | 205,676 | ||||||||||
(5-year USD ICE Swap + 4.37%), 6.38%(a)(f) |
|
1,000 | 957,650 | |||||||||
ION Trading Technologies SARL, 5.75%, 05/15/28(b) |
200 | 172,642 | ||||||||||
Jefferies Finance LLC/JFIN Co.-Issuer Corp., 5.00%, 08/15/28(b) |
220 | 180,359 | ||||||||||
JPMorgan Chase & Co.(a) |
||||||||||||
(1-day SOFR + 1.18%), 2.55%, 11/08/32 |
1,000 | 819,324 | ||||||||||
(1-day SOFR + 2.08%), 4.91%, 07/25/33(e) |
1,381 | 1,349,477 | ||||||||||
(3-mo. CME Term SOFR + 1.42%), 3.70%, 05/06/30 |
1,000 | 916,429 | ||||||||||
(3-mo. CME Term SOFR + 2.46%), 3.11%, 04/22/41 |
800 | 607,148 | ||||||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.(b) |
||||||||||||
5.25%, 10/01/25 |
30 | 28,329 | ||||||||||
4.25%, 02/01/27 |
42 | 36,494 | ||||||||||
4.75%, 06/15/29 |
46 | 37,436 | ||||||||||
Lloyds Banking Group PLC, (5-year CMT + 4.82%), 6.75%(a)(f) |
595 | 544,551 | ||||||||||
Morgan Stanley, (1-day SOFR + 1.73%), 5.12%, 02/01/29(a) |
3,000 | 2,958,711 | ||||||||||
Nationstar Mortgage Holdings, Inc.(b) |
||||||||||||
6.00%, 01/15/27 |
33 | 30,699 |
Security | Par (000) |
Value | ||||||||||
Financial Services (continued) | ||||||||||||
Nationstar Mortgage Holdings, Inc.(b) (continued) |
||||||||||||
5.13%, 12/15/30 |
USD | 69 | $ | 55,973 | ||||||||
5.75%, 11/15/31 |
78 | 64,073 | ||||||||||
NatWest Group PLC, (1-year CMT + 2.27%), 5.52%, 09/30/28(a) |
1,000 | 980,239 | ||||||||||
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.88%, 10/15/26(b) |
569 | 503,565 | ||||||||||
Spectrum Brands, Inc.(b) |
||||||||||||
5.00%, 10/01/29 |
53 | 47,306 | ||||||||||
5.50%, 07/15/30 |
104 | 94,900 | ||||||||||
|
|
|||||||||||
28,138,256 | ||||||||||||
Food Products — 0.4% | ||||||||||||
Aramark International Finance SARL, 3.13%, 04/01/25(d) |
EUR | 100 | 104,630 | |||||||||
Aramark Services, Inc.(b) |
||||||||||||
5.00%, 04/01/25 |
USD | 73 | 71,931 | |||||||||
6.38%, 05/01/25 |
14 | 13,987 | ||||||||||
5.00%, 02/01/28(e) |
541 | 509,914 | ||||||||||
BRF SA, 4.88%, 01/24/30(d) |
200 | 161,250 | ||||||||||
Chobani LLC/Chobani Finance Corp., Inc.(b) |
||||||||||||
7.50%, 04/15/25(e) |
803 | 798,994 | ||||||||||
4.63%, 11/15/28 |
628 | 571,480 | ||||||||||
Darling Global Finance BV, 3.63%, 05/15/26(d) |
EUR | 100 | 106,392 | |||||||||
|
|
|||||||||||
2,338,578 | ||||||||||||
Gas Utilities — 0.0% | ||||||||||||
Howard Midstream Energy Partners LLC, 8.88%, 07/15/28 |
USD | 179 | 179,895 | |||||||||
|
|
|||||||||||
Ground Transportation — 1.1% | ||||||||||||
Burlington Northern Santa Fe LLC, 5.75%, 05/01/40 |
1,890 | 1,998,939 | ||||||||||
Danaos Corp., 8.50%, 03/01/28(b) |
100 | 100,320 | ||||||||||
Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34(b) |
2,294 | 2,237,052 | ||||||||||
Norfolk Southern Corp., 2.30%, 05/15/31 |
1,800 | 1,495,278 | ||||||||||
Union Pacific Corp. |
||||||||||||
3.38%, 02/14/42 |
350 | 279,657 | ||||||||||
3.84%, 03/20/60 |
800 | 636,365 | ||||||||||
|
|
|||||||||||
6,747,611 | ||||||||||||
Health Care Equipment & Supplies — 0.5% | ||||||||||||
Avantor Funding, Inc. |
||||||||||||
2.63%, 11/01/25(d) |
EUR | 100 | 104,544 | |||||||||
4.63%, 07/15/28(b)(e) |
USD | 379 | 351,304 | |||||||||
3.88%, 11/01/29(b) |
17 | 14,884 | ||||||||||
Becton Dickinson & Co. |
||||||||||||
4.30%, 08/22/32 |
750 | 711,421 | ||||||||||
4.69%, 12/15/44 |
600 | 543,950 | ||||||||||
Embecta Corp., 6.75%, 02/15/30(b) |
50 | 44,808 | ||||||||||
Garden Spinco Corp., 8.63%, 07/20/30(b) |
136 | 146,166 | ||||||||||
Thermo Fisher Scientific, Inc., 5.30%, 02/01/44 |
1,000 | 1,010,272 | ||||||||||
|
|
|||||||||||
2,927,349 | ||||||||||||
Health Care Providers & Services — 1.9% | ||||||||||||
Acadia Healthcare Co., Inc., 5.50%, 07/01/28(b) |
37 | 35,385 | ||||||||||
AdaptHealth LLC(b) |
||||||||||||
6.13%, 08/01/28 |
49 | 42,445 | ||||||||||
5.13%, 03/01/30 |
18 | 14,580 | ||||||||||
Aetna, Inc., 4.50%, 05/15/42 |
575 | 493,299 | ||||||||||
AHP Health Partners, Inc., 5.75%, 07/15/29(b) |
219 | 188,828 | ||||||||||
Cano Health LLC, 6.25%, 10/01/28(b) |
53 | 33,125 | ||||||||||
CHS/Community Health Systems, Inc.(b) |
||||||||||||
5.63%, 03/15/27 |
92 | 81,074 | ||||||||||
6.00%, 01/15/29 |
332 | 279,295 | ||||||||||
5.25%, 05/15/30(e) |
468 | 368,656 | ||||||||||
4.75%, 02/15/31 |
223 | 168,540 |
S C H E D U L E O F I N V E S T M E N T S |
23 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Health Care Providers & Services (continued) | ||||||||||||
Elevance Health, Inc., 4.65%, 08/15/44 |
USD | 1,500 | $ | 1,346,895 | ||||||||
Encompass Health Corp., 4.75%, 02/01/30 |
279 | 254,030 | ||||||||||
HCA, Inc., 5.50%, 06/15/47 |
1,090 | 1,026,660 | ||||||||||
HealthEquity, Inc., 4.50%, 10/01/29(b) |
355 | 312,873 | ||||||||||
IQVIA, Inc., 6.50%, 05/15/30(b) |
200 | 201,975 | ||||||||||
Legacy LifePoint Health LLC, 6.75%, 04/15/25(b)(e) |
202 | 187,622 | ||||||||||
Medline Borrower LP(b) |
||||||||||||
3.88%, 04/01/29 |
281 | 244,207 | ||||||||||
5.25%, 10/01/29(e) |
1,044 | 905,878 | ||||||||||
ModivCare, Inc., 5.88%, 11/15/25(b) |
173 | 160,222 | ||||||||||
Molina Healthcare, Inc.(b) |
||||||||||||
4.38%, 06/15/28 |
32 | 29,499 | ||||||||||
3.88%, 11/15/30 |
122 | 104,817 | ||||||||||
3.88%, 05/15/32 |
13 | 10,899 | ||||||||||
Northwell Healthcare, Inc., 4.26%, 11/01/47 |
725 | 594,990 | ||||||||||
Surgery Center Holdings, Inc., 6.75%, 07/01/25(b)(e) |
189 | 188,327 | ||||||||||
Teleflex, Inc., 4.63%, 11/15/27 |
14 | 13,195 | ||||||||||
Tenet Healthcare Corp. |
||||||||||||
4.88%, 01/01/26 |
300 | 292,197 | ||||||||||
6.25%, 02/01/27 |
123 | 121,742 | ||||||||||
5.13%, 11/01/27 |
379 | 361,823 | ||||||||||
4.63%, 06/15/28 |
55 | 51,369 | ||||||||||
6.13%, 10/01/28(e) |
122 | 117,449 | ||||||||||
6.13%, 06/15/30 |
122 | 120,255 | ||||||||||
6.75%, 05/15/31 |
550 | 551,340 | ||||||||||
UnitedHealth Group, Inc. |
||||||||||||
5.80%, 03/15/36 |
1,750 | 1,870,716 | ||||||||||
3.05%, 05/15/41 |
600 | 463,791 | ||||||||||
|
|
|||||||||||
11,237,998 | ||||||||||||
Health Care Technology(b) — 0.2% | ||||||||||||
AthenaHealth Group, Inc., 6.50%, 02/15/30(e) |
1,232 | 1,036,901 | ||||||||||
Catalent Pharma Solutions, Inc., 3.50%, 04/01/30(e) |
328 | 265,680 | ||||||||||
Fortrea Holdings, Inc., 7.50%, 07/01/30 |
132 | 135,164 | ||||||||||
|
|
|||||||||||
1,437,745 | ||||||||||||
Hotels, Restaurants & Leisure — 1.9% | ||||||||||||
Accor SA, (5-year EUR Swap + 4.56%), 4.38%(a)(d)(f) |
EUR | 100 | 107,245 | |||||||||
Boyd Gaming Corp., 4.75%, 12/01/27 |
USD | 88 | 83,378 | |||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc.(b) |
|
|||||||||||
3.88%, 01/15/28 |
39 | 35,653 | ||||||||||
4.38%, 01/15/28(e) |
214 | 197,559 | ||||||||||
4.00%, 10/15/30 |
70 | 59,908 | ||||||||||
Caesars Entertainment, Inc.(b) |
||||||||||||
6.25%, 07/01/25 |
820 | 816,203 | ||||||||||
8.13%, 07/01/27(e) |
876 | 896,559 | ||||||||||
4.63%, 10/15/29(e) |
134 | 117,010 | ||||||||||
7.00%, 02/15/30 |
925 | 928,922 | ||||||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25(b) |
103 | 104,218 | ||||||||||
CDI Escrow Issuer, Inc., 5.75%, 04/01/30(b) |
418 | 389,082 | ||||||||||
Churchill Downs, Inc. |
||||||||||||
5.50%, 04/01/27(b) |
244 | 234,589 | ||||||||||
4.75%, 01/15/28(b) |
309 | 286,567 | ||||||||||
6.75%, 05/01/31 |
280 | 276,850 | ||||||||||
Corvias Campus Living - USG LLC, 5.30%, 07/01/50(c) |
5,581 | 1,864,288 | ||||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.(b) |
||||||||||||
4.63%, 01/15/29 |
156 | 136,890 | ||||||||||
6.75%, 01/15/30 |
46 | 39,148 |
Security | Par (000) |
Value | ||||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||||||
Fortune Star BVI Ltd., 6.75%, 07/02/23(d) |
USD | 200 | $ | 199,880 | ||||||||
Hilton Domestic Operating Co., Inc.(b) |
||||||||||||
5.75%, 05/01/28 |
112 | 110,288 | ||||||||||
3.75%, 05/01/29 |
99 | 87,874 | ||||||||||
4.00%, 05/01/31 |
79 | 68,610 | ||||||||||
3.63%, 02/15/32 |
77 | 64,198 | ||||||||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 |
44 | 42,684 | ||||||||||
Lindblad Expeditions Holdings, Inc., 9.00%, 05/15/28 |
166 | 168,428 | ||||||||||
Lottomatica SpA/Roma, (3-mo. EURIBOR + 4.13%), 7.59%, 06/01/28(a)(d) |
EUR | 100 | 109,529 | |||||||||
Melco Resorts Finance Ltd. |
||||||||||||
4.88%, 06/06/25(b) |
USD | 200 | 188,790 | |||||||||
5.25%, 04/26/26(d) |
250 | 232,010 | ||||||||||
5.75%, 07/21/28(b) |
200 | 174,875 | ||||||||||
5.38%, 12/04/29(b) |
200 | 164,750 | ||||||||||
Merlin Entertainments Ltd., 5.75%, 06/15/26(b) |
200 | 192,748 | ||||||||||
MGM China Holdings Ltd. |
||||||||||||
5.88%, 05/15/26(d)(e) |
450 | 428,472 | ||||||||||
4.75%, 02/01/27(b) |
200 | 180,250 | ||||||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.(b) |
||||||||||||
5.63%, 09/01/29 |
63 | 47,719 | ||||||||||
5.88%, 09/01/31 |
79 | 58,282 | ||||||||||
Scientific Games Holdings LP/Scientific Games US FinCo, Inc., 6.63%, 03/01/30(b) |
50 | 44,000 | ||||||||||
Scientific Games International, Inc.(b) |
||||||||||||
8.63%, 07/01/25 |
136 | 138,890 | ||||||||||
7.00%, 05/15/28(e) |
100 | 99,466 | ||||||||||
7.25%, 11/15/29 |
96 | 96,120 | ||||||||||
Six Flags Entertainment Corp., 7.25%, 05/15/31(b) |
263 | 256,149 | ||||||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25(b) |
135 | 135,675 | ||||||||||
Station Casinos LLC, 4.50%, 02/15/28(b) |
123 | 110,401 | ||||||||||
Vail Resorts, Inc., 6.25%, 05/15/25(b) |
105 | 105,125 | ||||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27(b)(e) |
125 | 118,407 | ||||||||||
Wynn Macau Ltd. |
||||||||||||
4.88%, 10/01/24(d) |
200 | 194,208 | ||||||||||
5.50%, 10/01/27(d) |
200 | 177,125 | ||||||||||
5.63%, 08/26/28(b)(e) |
200 | 172,500 | ||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.(b) |
||||||||||||
5.13%, 10/01/29 |
503 | 450,785 | ||||||||||
7.13%, 02/15/31(e) |
230 | 228,607 | ||||||||||
|
|
|||||||||||
11,420,914 | ||||||||||||
Household Durables — 0.1% | ||||||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 5.00%, 06/15/29(b) |
141 | 112,903 | ||||||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25(b) |
173 | 160,144 | ||||||||||
K Hovnanian Enterprises, Inc., 7.75%, 02/15/26(b) |
88 | 86,240 | ||||||||||
NCR Corp., 5.13%, 04/15/29(b) |
91 | 80,559 | ||||||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29(b)(e) |
223 | 133,806 | ||||||||||
Taylor Morrison Communities, Inc., 5.88%, 06/15/27(b) |
125 | 122,774 | ||||||||||
Tempur Sealy International, Inc., 3.88%, 10/15/31(b) |
76 | 61,913 | ||||||||||
Tri Pointe Homes, Inc., 5.25%, 06/01/27 |
28 | 26,487 | ||||||||||
|
|
|||||||||||
784,826 |
24 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Household Products — 0.0% | ||||||||||||
Central Garden & Pet Co. |
||||||||||||
5.13%, 02/01/28 |
USD | 35 | $ | 32,880 | ||||||||
4.13%, 10/15/30(e) |
105 | 87,958 | ||||||||||
|
|
|||||||||||
120,838 | ||||||||||||
Independent Power and Renewable Electricity Producers — 0.3% | ||||||||||||
Calpine Corp.(b) |
||||||||||||
5.13%, 03/15/28(e) |
539 | 481,005 | ||||||||||
5.00%, 02/01/31 |
41 | 33,910 | ||||||||||
Clearway Energy Operating LLC, 4.75%, 03/15/28(b) |
124 | 114,405 | ||||||||||
Greenko Dutch BV, 3.85%, 03/29/26(d)(e) |
188 | 168,503 | ||||||||||
Greenko Solar Mauritius Ltd., 5.95%, 07/29/26(d)(e) |
200 | 186,484 | ||||||||||
India Cleantech Energy, 4.70%, 08/10/26(b) |
229 | 200,073 | ||||||||||
NRG Energy, Inc. |
||||||||||||
5.75%, 01/15/28 |
45 | 42,644 | ||||||||||
7.00%, 03/15/33(b) |
150 | 151,243 | ||||||||||
SCC Power PLC(b)(g) |
||||||||||||
(4.00% Cash and 4.00% Cash + 4.00% PIK), 8.00%, 12/31/28 |
250 | 83,606 | ||||||||||
(4.00% Cash or 4.00% PIK), 4.00%, 05/17/32 |
135 | 12,569 | ||||||||||
Talen Energy Supply LLC, 8.63%, 06/01/30 |
91 | 94,185 | ||||||||||
TransAlta Corp., 7.75%, 11/15/29 |
77 | 79,271 | ||||||||||
|
|
|||||||||||
1,647,898 | ||||||||||||
Industrial Conglomerates — 0.4% | ||||||||||||
Emerald Debt Merger Sub LLC, 6.38%, 12/15/30 |
EUR | 110 | 119,582 | |||||||||
General Electric Co., 6.15%, 08/07/37 |
USD | 2,150 | 2,249,493 | |||||||||
|
|
|||||||||||
2,369,075 | ||||||||||||
Insurance — 2.4% | ||||||||||||
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29(b) |
82 | 70,997 | ||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co- Issuer(b) |
||||||||||||
4.25%, 10/15/27 |
319 | 286,268 | ||||||||||
6.75%, 10/15/27(e) |
1,419 | 1,333,860 | ||||||||||
6.75%, 04/15/28 |
397 | 393,720 | ||||||||||
5.88%, 11/01/29(e) |
1,342 | 1,167,433 | ||||||||||
Aon Global Ltd., 4.60%, 06/14/44 |
500 | 436,025 | ||||||||||
Berkshire Hathaway Finance Corp., 4.40%, 05/15/42(e) |
500 | 476,150 | ||||||||||
GTCR AP Finance, Inc., 8.00%, 05/15/27(b) |
148 | 145,076 | ||||||||||
HUB International Ltd.(b) |
||||||||||||
7.00%, 05/01/26 |
938 | 935,519 | ||||||||||
7.25%, 06/15/30 |
993 | 1,025,372 | ||||||||||
Jones Deslauriers Insurance Management, Inc.(b) |
||||||||||||
8.50%, 03/15/30 |
352 | 359,114 | ||||||||||
10.50%, 12/15/30 |
183 | 183,563 | ||||||||||
Liberty Mutual Group, Inc., 6.50%, 05/01/42(b) |
2,000 | 2,009,838 | ||||||||||
Marsh & McLennan Cos., Inc., 5.88%, 08/01/33 |
1,500 | 1,590,359 | ||||||||||
Progressive Corp., 3.00%, 03/15/32 |
750 | 652,620 | ||||||||||
Prudential Financial, Inc. |
||||||||||||
5.90%, 03/17/36 |
500 | 511,042 | ||||||||||
5.70%, 12/14/36 |
1,625 | 1,688,448 | ||||||||||
Ryan Specialty Group LLC, 4.38%, 02/01/30(b) |
132 | 116,846 | ||||||||||
Teachers Insurance & Annuity Association of America, 4.27%, 05/15/47(b) |
700 | 578,759 | ||||||||||
|
|
|||||||||||
13,961,009 | ||||||||||||
Interactive Media & Services — 0.1% | ||||||||||||
Cablevision Lightpath LLC, 5.63%, 09/15/28(b) |
200 | 148,160 | ||||||||||
iliad SA(d) |
||||||||||||
5.38%, 06/14/27 |
EUR | 100 | 107,581 |
Security | Par (000) |
Value | ||||||||||
Interactive Media & Services (continued) | ||||||||||||
iliad SA(d) (continued) |
| |||||||||||
5.63%, 02/15/30 |
EUR | 100 | $ | 105,465 | ||||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc., |
||||||||||||
4.75%, 04/30/27(b) |
USD | 200 | 176,640 | |||||||||
|
|
|||||||||||
537,846 | ||||||||||||
Internet Software & Services — 0.5% | ||||||||||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc., 5.25%, 12/01/27(b) |
27 | 25,650 | ||||||||||
Match Group Holdings II LLC(b) |
||||||||||||
5.63%, 02/15/29 |
6 | 5,626 | ||||||||||
4.13%, 08/01/30 |
20 | 17,130 | ||||||||||
3.63%, 10/01/31(e) |
209 | 171,786 | ||||||||||
Uber Technologies, Inc. |
||||||||||||
0.00%, 12/15/25(h)(i) |
884 | 806,231 | ||||||||||
8.00%, 11/01/26(b) |
265 | 270,065 | ||||||||||
7.50%, 09/15/27(b)(e) |
788 | 806,008 | ||||||||||
6.25%, 01/15/28(b) |
190 | 189,061 | ||||||||||
4.50%, 08/15/29(b)(e) |
588 | 541,194 | ||||||||||
|
|
|||||||||||
2,832,751 | ||||||||||||
IT Services — 0.9% | ||||||||||||
Ahead DB Holdings LLC, 6.63%, 05/01/28(b) |
99 | 80,514 | ||||||||||
CA Magnum Holdings, 5.38%, 10/31/26(b) |
258 | 230,435 | ||||||||||
Camelot Finance SA, 4.50%, 11/01/26(b) |
279 | 262,829 | ||||||||||
Dun & Bradstreet Corp., 5.00%, 12/15/29(b) |
534 | 470,844 | ||||||||||
Engineering - Ingegneria Informatica - SpA, 11.13%, 05/15/28(d) |
EUR | 100 | 109,456 | |||||||||
Fidelity National Information Services, Inc., 4.50%, 08/15/46 |
USD | 1,000 | 797,046 | |||||||||
Fiserv, Inc., 4.40%, 07/01/49 |
500 | 422,486 | ||||||||||
International Business Machines Corp. |
||||||||||||
4.40%, 07/27/32 |
500 | 479,370 | ||||||||||
4.75%, 02/06/33 |
550 | 539,618 | ||||||||||
2.95%, 05/15/50 |
750 | 502,357 | ||||||||||
KBR, Inc., 4.75%, 09/30/28(b) |
136 | 123,423 | ||||||||||
McAfee Corp., 7.38%, 02/15/30(b)(e) |
734 | 638,229 | ||||||||||
Presidio Holdings, Inc., 4.88%, 02/01/27(b) |
32 | 30,020 | ||||||||||
Twilio, Inc. |
||||||||||||
3.63%, 03/15/29 |
117 | 99,538 | ||||||||||
3.88%, 03/15/31(e) |
214 | 178,180 | ||||||||||
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., |
||||||||||||
3.88%, 02/01/29(b) |
657 | 565,080 | ||||||||||
|
|
|||||||||||
5,529,425 | ||||||||||||
Leisure Products — 0.1% | ||||||||||||
Mattel, Inc. |
||||||||||||
6.20%, 10/01/40 |
194 | 173,447 | ||||||||||
5.45%, 11/01/41 |
149 | 123,525 | ||||||||||
|
|
|||||||||||
296,972 | ||||||||||||
Machinery — 0.6% | ||||||||||||
Chart Industries, Inc.(b) |
||||||||||||
7.50%, 01/01/30 |
445 | 454,013 | ||||||||||
9.50%, 01/01/31 |
66 | 70,027 | ||||||||||
GrafTech Global Enterprises, Inc., 9.88%, 12/15/28 |
192 | 190,560 | ||||||||||
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25(b)(g) |
241 | 219,310 | ||||||||||
Madison IAQ LLC, 5.88%, 06/30/29(b)(e) |
232 | 187,899 | ||||||||||
OT Merger Corp., 7.88%, 10/15/29(b) |
78 | 48,751 | ||||||||||
Terex Corp., 5.00%, 05/15/29(b) |
110 | 102,265 |
S C H E D U L E O F I N V E S T M E N T S |
25 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Machinery (continued) | ||||||||||||
Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26(b) |
USD | 514 | $ | 466,455 | ||||||||
TK Elevator Holdco GmbH, 7.63%, 07/15/28(b)(e) |
400 | 362,834 | ||||||||||
TK Elevator Midco GmbH, 4.38%, 07/15/27(d) |
EUR | 200 | 194,786 | |||||||||
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(b)(e) |
USD | 1,207 | 1,115,114 | |||||||||
|
|
|||||||||||
3,412,014 | ||||||||||||
Marine Transportation — 0.0% | ||||||||||||
Huntington Ingalls Industries, Inc., 4.20%, 05/01/30 |
126 | 116,747 | ||||||||||
|
|
|||||||||||
Media — 4.8% | ||||||||||||
Altice Financing SA |
||||||||||||
3.00%, 01/15/28(d) |
EUR | 100 | 84,079 | |||||||||
5.75%, 08/15/29(b)(e) |
USD | 1,451 | 1,124,033 | |||||||||
Altice France Holding SA, 10.50%, 05/15/27(b) |
488 | 295,499 | ||||||||||
AMC Networks, Inc. |
||||||||||||
4.75%, 08/01/25 |
115 | 100,587 | ||||||||||
4.25%, 02/15/29 |
83 | 44,618 | ||||||||||
Bell Telephone Co. of Canada or Bell Canada, |
|
|||||||||||
Series US-4, 3.65%, 03/17/51 |
335 | 254,642 | ||||||||||
Cable One, Inc. |
||||||||||||
0.00%, 03/15/26(h)(i) |
62 | 50,685 | ||||||||||
1.13%, 03/15/28(h) |
492 | 370,230 | ||||||||||
4.00%, 11/15/30(b) |
96 | 75,000 | ||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp.(b) |
||||||||||||
5.13%, 05/01/27 |
228 | 212,324 | ||||||||||
5.00%, 02/01/28 |
210 | 191,329 | ||||||||||
6.38%, 09/01/29(e) |
517 | 487,096 | ||||||||||
4.75%, 03/01/30(e) |
225 | 192,394 | ||||||||||
4.25%, 02/01/31 |
431 | 348,666 | ||||||||||
7.38%, 03/01/31(e) |
935 | 911,093 | ||||||||||
4.75%, 02/01/32 |
241 | 196,531 | ||||||||||
4.25%, 01/15/34(e) |
286 | 216,150 | ||||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital |
||||||||||||
5.38%, 05/01/47 |
1,100 | 909,211 | ||||||||||
4.80%, 03/01/50 |
1,000 | 754,499 | ||||||||||
Clear Channel International BV, 6.63%, 08/01/25(b) |
256 | 254,717 | ||||||||||
Clear Channel Outdoor Holdings, Inc.(b) |
||||||||||||
5.13%, 08/15/27(e) |
1,112 | 1,009,577 | ||||||||||
7.75%, 04/15/28(e) |
237 | 186,045 | ||||||||||
7.50%, 06/01/29 |
508 | 375,908 | ||||||||||
CMG Media Corp., 8.88%, 12/15/27(b) |
213 | 149,280 | ||||||||||
Comcast Corp. |
||||||||||||
6.45%, 03/15/37 |
790 | 869,896 | ||||||||||
3.90%, 03/01/38 |
1,500 | 1,303,267 | ||||||||||
4.70%, 10/15/48 |
3,000 | 2,805,573 | ||||||||||
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26(b) |
1,055 | 1,024,739 | ||||||||||
CSC Holdings LLC |
||||||||||||
5.25%, 06/01/24 |
276 | 256,692 | ||||||||||
5.50%, 04/15/27(b) |
200 | 166,398 | ||||||||||
11.25%, 05/15/28(b) |
1,007 | 976,518 | ||||||||||
4.13%, 12/01/30(b)(e) |
400 | 279,810 | ||||||||||
4.50%, 11/15/31(b) |
606 | 422,513 | ||||||||||
Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.88%, 08/15/27(b)(e) |
279 | 252,672 | ||||||||||
Discovery Communications LLC, 3.45%, 03/15/25 |
210 | 201,035 | ||||||||||
DISH DBS Corp. |
||||||||||||
7.75%, 07/01/26(e) |
343 | 210,247 | ||||||||||
5.25%, 12/01/26(b) |
613 | 491,732 |
Security | Par (000) |
Value | ||||||||||
Media (continued) | ||||||||||||
DISH DBS Corp. (continued) |
||||||||||||
5.75%, 12/01/28(b) |
USD | 192 | $ | 142,806 | ||||||||
5.13%, 06/01/29 |
52 | 24,146 | ||||||||||
DISH Network Corp., 11.75%, 11/15/27(b) |
127 | 123,941 | ||||||||||
Frontier Communications Holdings LLC(b) |
||||||||||||
5.88%, 10/15/27 |
152 | 139,500 | ||||||||||
5.00%, 05/01/28 |
446 | 384,813 | ||||||||||
8.75%, 05/15/30 |
821 | 802,424 | ||||||||||
GCI LLC, 4.75%, 10/15/28(b) |
72 | 61,387 | ||||||||||
Iliad Holding SASU(b) |
||||||||||||
6.50%, 10/15/26 |
529 | 499,282 | ||||||||||
7.00%, 10/15/28 |
802 | 739,159 | ||||||||||
Interpublic Group of Cos., Inc., 5.40%, 10/01/48 |
500 | 465,351 | ||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(b)(g) |
179 | 63,359 | ||||||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29(b) |
155 | 112,251 | ||||||||||
Live Nation Entertainment, Inc.(b) |
||||||||||||
5.63%, 03/15/26 |
11 | 10,745 | ||||||||||
6.50%, 05/15/27(e) |
821 | 825,370 | ||||||||||
4.75%, 10/15/27(e) |
345 | 321,712 | ||||||||||
3.75%, 01/15/28 |
132 | 117,810 | ||||||||||
Lorca Telecom Bondco SA, 4.00%, 09/18/27(d) |
EUR | 100 | 99,436 | |||||||||
Midcontinent Communications/Midcontinent Finance Corp., 5.38%, 08/15/27(b) |
USD | 108 | 101,165 | |||||||||
Network i2i Ltd., (5-year CMT + 4.27%), 5.65%(a)(d)(f) |
400 | 387,464 | ||||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp.(b) |
||||||||||||
5.00%, 08/15/27(e) |
269 | 244,171 | ||||||||||
4.25%, 01/15/29(e) |
291 | 244,545 | ||||||||||
4.63%, 03/15/30 |
18 | 14,996 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc.(b) |
||||||||||||
4.50%, 09/15/26 |
297 | 236,788 | ||||||||||
6.50%, 09/15/28 |
640 | 373,482 | ||||||||||
Sable International Finance Ltd., 5.75%, 09/07/27(b) |
200 | 183,856 | ||||||||||
Sinclair Television Group, Inc., 4.13%, 12/01/30(b)(e) |
577 | 377,935 | ||||||||||
Sirius XM Radio, Inc., 5.00%, 08/01/27(b) |
403 | 373,899 | ||||||||||
Stagwell Global LLC, 5.63%, 08/15/29(b) |
69 | 59,045 | ||||||||||
Summer BidCo BV, (9.00% Cash or 9.75% PIK), 9.00%, 11/15/25(d)(g) |
EUR | 119 | 108,191 | |||||||||
TCI Communications, Inc., 7.88%, 02/15/26 |
USD | 610 | 648,343 | |||||||||
TEGNA, Inc., 4.75%, 03/15/26(b) |
32 | 30,554 | ||||||||||
Univision Communications, Inc.(b) |
||||||||||||
5.13%, 02/15/25 |
52 | 50,895 | ||||||||||
6.63%, 06/01/27 |
37 | 35,762 | ||||||||||
7.38%, 06/30/30(e) |
120 | 114,254 | ||||||||||
UPC Broadband Finco BV, 4.88%, 07/15/31(b) |
303 | 249,396 | ||||||||||
VZ Secured Financing BV, 3.50%, 01/15/32(d) |
EUR | 100 | 83,883 | |||||||||
Walt Disney Co. |
||||||||||||
7.63%, 11/30/28 |
USD | 385 | 431,174 | |||||||||
5.40%, 10/01/43 |
500 | 509,751 | ||||||||||
Ziggo Bond Co. BV, 6.00%, 01/15/27(b) |
150 | 137,673 | ||||||||||
Ziggo BV, 4.88%, 01/15/30(b) |
200 | 165,986 | ||||||||||
|
|
|||||||||||
28,151,985 | ||||||||||||
Metals & Mining — 1.2% | ||||||||||||
ABJA Investment Co. Pte. Ltd.(d) |
||||||||||||
5.95%, 07/31/24 |
250 | 248,430 | ||||||||||
5.45%, 01/24/28 |
200 | 198,046 | ||||||||||
Arconic Corp.(b) |
||||||||||||
6.00%, 05/15/25 |
89 | 89,708 | ||||||||||
6.13%, 02/15/28(e) |
393 | 397,875 |
26 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Metals & Mining (continued) | ||||||||||||
ATI, Inc. |
||||||||||||
5.88%, 12/01/27 |
USD | 121 | $ | 117,100 | ||||||||
5.13%, 10/01/31 |
187 | 166,600 | ||||||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29(b) |
862 | 851,496 | ||||||||||
Carpenter Technology Corp. |
||||||||||||
6.38%, 07/15/28 |
180 | 176,400 | ||||||||||
7.63%, 03/15/30 |
151 | 152,706 | ||||||||||
Constellium SE |
||||||||||||
4.25%, 02/15/26(d) |
EUR | 100 | 106,401 | |||||||||
5.63%, 06/15/28(b) |
USD | 250 | 235,232 | |||||||||
3.75%, 04/15/29(b) |
841 | 715,487 | ||||||||||
First Quantum Minerals Ltd., 8.63%, 06/01/31(b) |
222 | 226,440 | ||||||||||
JSW Steel Ltd., 5.95%, 04/18/24(d) |
200 | 198,348 | ||||||||||
Kaiser Aluminum Corp.(b) |
||||||||||||
4.63%, 03/01/28 |
98 | 85,707 | ||||||||||
4.50%, 06/01/31 |
535 | 426,491 | ||||||||||
New Gold, Inc., 7.50%, 07/15/27(b) |
470 | 438,877 | ||||||||||
Novelis Corp.(b) |
||||||||||||
3.25%, 11/15/26(e) |
628 | 568,445 | ||||||||||
4.75%, 01/30/30(e) |
296 | 263,057 | ||||||||||
3.88%, 08/15/31 |
396 | 325,754 | ||||||||||
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29(d) |
EUR | 100 | 95,542 | |||||||||
Rio Tinto Finance USA PLC, 4.75%, 03/22/42 |
USD | 400 | 378,806 | |||||||||
Stillwater Mining Co., 4.00%, 11/16/26(d) |
200 | 177,512 | ||||||||||
Vedanta Resources Finance II PLC, 13.88%, 01/21/24(d) |
200 | 182,074 | ||||||||||
|
|
|||||||||||
6,822,534 | ||||||||||||
Multi-Utilities — 0.5% | ||||||||||||
American Water Capital Corp., 4.45%, 06/01/32 |
1,350 | 1,307,041 | ||||||||||
AmeriGas Partners LP/AmeriGas Finance Corp., 9.38%, 06/01/28(b) |
184 | 186,874 | ||||||||||
KeySpan Gas East Corp., 5.82%, 04/01/41(b) |
1,010 | 969,907 | ||||||||||
NiSource, Inc., 1.70%, 02/15/31 |
400 | 312,748 | ||||||||||
|
|
|||||||||||
2,776,570 | ||||||||||||
Offshore Drilling & Other Services — 0.2% | ||||||||||||
Entegris Escrow Corp., 4.75%, 04/15/29(b) |
786 | 729,664 | ||||||||||
Entegris, Inc., 4.38%, 04/15/28(b) |
201 | 181,901 | ||||||||||
KLA Corp., 3.30%, 03/01/50 |
500 | 374,971 | ||||||||||
|
|
|||||||||||
1,286,536 | ||||||||||||
Oil, Gas & Consumable Fuels — 7.6% | ||||||||||||
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26(b) |
461 | 452,932 | ||||||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp.(b) |
||||||||||||
5.75%, 03/01/27 |
203 | 195,781 | ||||||||||
5.75%, 01/15/28 |
39 | 37,178 | ||||||||||
5.38%, 06/15/29(e) |
140 | 130,085 | ||||||||||
Antero Resources Corp., 7.63%, 02/01/29(b) |
83 | 84,213 | ||||||||||
Apache Corp. |
||||||||||||
4.25%, 01/15/30(e) |
39 | 34,737 | ||||||||||
5.10%, 09/01/40 |
57 | 46,313 | ||||||||||
5.35%, 07/01/49 |
97 | 75,418 | ||||||||||
Arcosa, Inc., 4.38%, 04/15/29(b) |
117 | 104,832 | ||||||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp.(b) |
||||||||||||
9.00%, 11/01/27 |
479 | 595,502 | ||||||||||
8.25%, 12/31/28 |
593 | 583,159 | ||||||||||
5.88%, 06/30/29 |
44 | 39,254 |
Security | Par (000) |
Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Baytex Energy Corp., 8.50%, 04/30/30 |
USD | 94 | $ | 91,798 | ||||||||
Buckeye Partners LP |
||||||||||||
5.85%, 11/15/43 |
94 | 69,560 | ||||||||||
5.60%, 10/15/44 |
59 | 42,480 | ||||||||||
Burlington Resources LLC, 5.95%, 10/15/36 |
685 | 725,401 | ||||||||||
Callon Petroleum Co. |
||||||||||||
8.25%, 07/15/25 |
31 | 30,768 | ||||||||||
6.38%, 07/01/26 |
111 | 108,047 | ||||||||||
8.00%, 08/01/28(b)(e) |
404 | 399,519 | ||||||||||
7.50%, 06/15/30(b)(e) |
318 | 300,151 | ||||||||||
Cellnex Finance Co. SA, 1.25%, 01/15/29(d) |
EUR | 100 | 90,392 | |||||||||
Cellnex Telecom SA, Series CLNX, 0.75%, 11/20/31(d)(h) |
100 | 87,028 | ||||||||||
Cheniere Energy Partners LP |
||||||||||||
4.50%, 10/01/29 |
USD | 549 | 503,848 | |||||||||
3.25%, 01/31/32(e) |
149 | 122,575 | ||||||||||
Chesapeake Energy Corp.(b) |
||||||||||||
5.88%, 02/01/29 |
28 | 26,596 | ||||||||||
6.75%, 04/15/29(e) |
290 | 287,748 | ||||||||||
Civitas Resources, Inc.(b) |
||||||||||||
5.00%, 10/15/26 |
24 | 22,629 | ||||||||||
8.38%, 07/01/28 |
523 | 528,910 | ||||||||||
8.75%, 07/01/31 |
432 | 437,962 | ||||||||||
CNX Midstream Partners LP, 4.75%, 04/15/30(b) |
66 | 55,980 | ||||||||||
CNX Resources Corp., 7.38%, 01/15/31(b) |
70 | 68,106 | ||||||||||
Comstock Resources, Inc.(b) |
||||||||||||
6.75%, 03/01/29(e) |
356 | 325,721 | ||||||||||
5.88%, 01/15/30 |
339 | 294,310 | ||||||||||
ConocoPhillips, 6.50%, 02/01/39 |
600 | 691,731 | ||||||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31(b) |
1,000 | 891,913 | ||||||||||
Crescent Energy Finance LLC(b) |
||||||||||||
7.25%, 05/01/26 |
496 | 465,501 | ||||||||||
9.25%, 02/15/28(e) |
180 | 174,643 | ||||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.(b) |
||||||||||||
5.63%, 05/01/27 |
34 | 32,232 | ||||||||||
6.00%, 02/01/29 |
314 | 293,197 | ||||||||||
8.00%, 04/01/29 |
29 | 29,360 | ||||||||||
7.38%, 02/01/31 |
69 | 68,010 | ||||||||||
CrownRock LP/CrownRock Finance, Inc.(b) |
||||||||||||
5.63%, 10/15/25 |
659 | 649,247 | ||||||||||
5.00%, 05/01/29 |
43 | 40,259 | ||||||||||
DCP Midstream Operating LP(b) |
||||||||||||
6.45%, 11/03/36 |
106 | 108,846 | ||||||||||
6.75%, 09/15/37 |
172 | 182,540 | ||||||||||
Devon Energy Corp. |
||||||||||||
5.85%, 12/15/25 |
1,000 | 1,007,582 | ||||||||||
4.75%, 05/15/42 |
300 | 252,873 | ||||||||||
Diamondback Energy, Inc., 6.25%, 03/15/33(e) |
431 | 445,856 | ||||||||||
DT Midstream, Inc., 4.38%, 06/15/31(b) |
209 | 180,002 | ||||||||||
Earthstone Energy Holdings LLC |
||||||||||||
8.00%, 04/15/27(b)(e) |
189 | 182,538 | ||||||||||
9.88%, 07/15/31 |
223 | 220,424 | ||||||||||
Ecopetrol SA |
||||||||||||
8.88%, 01/13/33 |
175 | 172,511 | ||||||||||
5.88%, 05/28/45 |
111 | 75,330 | ||||||||||
eG Global Finance PLC(b) |
||||||||||||
6.75%, 02/07/25 |
241 | 234,071 | ||||||||||
8.50%, 10/30/25 |
200 | 194,053 |
S C H E D U L E O F I N V E S T M E N T S |
27 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Enbridge, Inc.(a) |
||||||||
(3-mo. LIBOR US + 3.64%), 6.25%, 03/01/78 |
USD | 1,935 | $ | 1,780,459 | ||||
Series 20-A, (5-year CMT + 5.31%), 5.75%, 07/15/80 |
950 | 857,973 | ||||||
Energean Israel Finance Ltd., 8.50%, 09/30/33 |
108 | 107,722 | ||||||
Energy Transfer LP |
||||||||
5.30%, 04/15/47 |
540 | 469,676 | ||||||
Series H, (5-year CMT + 5.69%), 6.50%(a)(f) |
307 | 278,854 | ||||||
EnLink Midstream LLC |
||||||||
5.63%, 01/15/28(b) |
235 | 227,406 | ||||||
5.38%, 06/01/29 |
280 | 266,759 | ||||||
6.50%, 09/01/30(b) |
160 | 159,805 | ||||||
EnLink Midstream Partners LP |
||||||||
4.15%, 06/01/25 |
4 | 3,880 | ||||||
4.85%, 07/15/26 |
67 | 64,655 | ||||||
5.60%, 04/01/44 |
155 | 129,770 | ||||||
5.45%, 06/01/47 |
42 | 34,524 | ||||||
Enterprise Products Operating LLC, 6.13%, 10/15/39 |
1,400 | 1,486,015 | ||||||
EOG Resources, Inc., 5.10%, 01/15/36 |
200 | 191,778 | ||||||
EQM Midstream Partners LP |
||||||||
6.00%, 07/01/25(b) |
89 | 88,017 | ||||||
4.13%, 12/01/26 |
68 | 63,242 | ||||||
6.50%, 07/01/27(b) |
245 | 241,636 | ||||||
4.50%, 01/15/29(b) |
13 | 11,595 | ||||||
7.50%, 06/01/30(b) |
57 | 57,681 | ||||||
Genesis Energy LP/Genesis Energy Finance Corp. |
||||||||
6.50%, 10/01/25 |
72 | 70,905 | ||||||
7.75%, 02/01/28 |
107 | 101,771 | ||||||
8.88%, 04/15/30 |
109 | 106,492 | ||||||
Gulfport Energy Corp., 8.00%, 05/17/26(b) |
25 | 25,118 | ||||||
Harvest Midstream I LP, 7.50%, 09/01/28(b) |
40 | 39,658 | ||||||
Hess Corp., 4.30%, 04/01/27 |
1,100 | 1,055,005 | ||||||
Hilcorp Energy I LP/Hilcorp Finance Co.(b) |
||||||||
6.25%, 11/01/28 |
70 | 65,891 | ||||||
5.75%, 02/01/29 |
127 | 114,997 | ||||||
6.00%, 04/15/30 |
12 | 10,927 | ||||||
HPCL-Mittal Energy Ltd., 5.45%, 10/22/26(d) |
200 | 192,412 | ||||||
HTA Group Ltd., 7.00%, 12/18/25(b) |
200 | 188,962 | ||||||
IHS Holding Ltd., 6.25%, 11/29/28(b) |
200 | 163,912 | ||||||
Impulsora Pipeline LLC, 6.05%, 01/01/43(c) |
1,614 | 1,390,995 | ||||||
ITT Holdings LLC, 6.50%, 08/01/29(b)(e) |
232 | 195,455 | ||||||
Kinder Morgan, Inc., 5.05%, 02/15/46(e) |
1,400 | 1,196,120 | ||||||
Kinetik Holdings LP, 5.88%, 06/15/30(b)(e) |
322 | 306,058 | ||||||
Leviathan Bond Ltd., 6.75%, 06/30/30(b)(d) |
88 | 81,650 | ||||||
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26(b) |
22 | 21,278 | ||||||
Marathon Petroleum Corp., 6.50%, 03/01/41(e) |
1,150 | 1,184,783 | ||||||
Matador Resources Co.(e) |
||||||||
5.88%, 09/15/26 |
366 | 354,670 | ||||||
6.88%, 04/15/28 |
167 | 165,295 | ||||||
Medco Oak Tree Pte. Ltd., 7.38%, 05/14/26(d) |
288 | 283,049 | ||||||
MPLX LP |
||||||||
4.25%, 12/01/27 |
250 | 237,419 | ||||||
4.80%, 02/15/29 |
500 | 482,183 | ||||||
Murphy Oil Corp. |
||||||||
5.75%, 08/15/25 |
9 | 8,882 | ||||||
5.88%, 12/01/27 |
40 | 38,859 | ||||||
5.88%, 12/01/42 |
18 | 14,958 | ||||||
Murphy Oil USA, Inc., 4.75%, 09/15/29 |
95 | 87,217 | ||||||
Nabors Industries Ltd.(b) |
||||||||
7.25%, 01/15/26 |
140 | 130,693 | ||||||
7.50%, 01/15/28 |
204 | 178,512 |
Security | Par (000) |
Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Nabors Industries, Inc. |
||||||||
5.75%, 02/01/25(e) |
USD | 773 | $ | 748,048 | ||||
7.38%, 05/15/27(b) |
258 | 245,495 | ||||||
New Fortress Energy, Inc.(b) |
||||||||
6.75%, 09/15/25 |
637 | 597,528 | ||||||
6.50%, 09/30/26 |
928 | 830,278 | ||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26(b)(e) |
151 | 148,716 | ||||||
NGPL PipeCo LLC, 7.77%, 12/15/37(b) |
138 | 147,111 | ||||||
Northern Oil and Gas, Inc. |
||||||||
8.13%, 03/01/28(b) |
593 | 581,140 | ||||||
8.75%, 06/15/31 |
218 | 214,185 | ||||||
NuStar Logistics LP |
||||||||
6.00%, 06/01/26 |
99 | 96,437 | ||||||
6.38%, 10/01/30 |
17 | 16,219 | ||||||
Occidental Petroleum Corp. |
||||||||
6.45%, 09/15/36 |
81 | 83,130 | ||||||
6.20%, 03/15/40 |
232 | 228,657 | ||||||
4.63%, 06/15/45 |
18 | 13,927 | ||||||
OQ SAOC, 5.13%, 05/06/28(b) |
200 | 189,238 | ||||||
PDC Energy, Inc. |
||||||||
6.13%, 09/15/24 |
58 | 57,971 | ||||||
5.75%, 05/15/26(e) |
164 | 163,343 | ||||||
Permian Resources Operating LLC(b) |
||||||||
5.38%, 01/15/26 |
32 | 30,423 | ||||||
7.75%, 02/15/26 |
380 | 381,617 | ||||||
6.88%, 04/01/27 |
116 | 114,260 | ||||||
5.88%, 07/01/29 |
449 | 422,963 | ||||||
Petroleos Mexicanos |
||||||||
4.25%, 01/15/25 |
55 | 51,826 | ||||||
6.50%, 03/13/27 |
212 | 188,150 | ||||||
8.75%, 06/02/29 |
204 | 183,062 | ||||||
5.95%, 01/28/31(e) |
245 | 178,514 | ||||||
6.70%, 02/16/32 |
235 | 178,353 | ||||||
6.38%, 01/23/45 |
48 | 29,304 | ||||||
Precision Drilling Corp., 6.88%, 01/15/29(b) |
9 | 8,132 | ||||||
Puma International Financing SA, 5.13%, 10/06/24(b) |
200 | 194,000 | ||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29(b) |
63 | 58,115 | ||||||
Rockies Express Pipeline LLC, 4.95%, 07/15/29(b) |
36 | 32,940 | ||||||
Sabine Pass Liquefaction LLC, 5.88%, 06/30/26 |
1,750 | 1,764,326 | ||||||
SM Energy Co. |
||||||||
5.63%, 06/01/25 |
111 | 108,468 | ||||||
6.75%, 09/15/26 |
85 | 82,850 | ||||||
6.63%, 01/15/27 |
14 | 13,598 | ||||||
6.50%, 07/15/28 |
139 | 133,440 | ||||||
Southwestern Energy Co., 5.38%, 02/01/29(e) |
212 | 199,633 | ||||||
Suncor Energy, Inc., 6.50%, 06/15/38 |
1,000 | 1,038,260 | ||||||
Sunoco LP/Sunoco Finance Corp., 5.88%, 03/15/28 |
4 | 3,847 | ||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.(b) |
||||||||
7.50%, 10/01/25 |
9 | 8,983 | ||||||
6.00%, 03/01/27 |
29 | 27,214 | ||||||
5.50%, 01/15/28 |
56 | 51,183 | ||||||
6.00%, 12/31/30 |
20 | 17,620 | ||||||
6.00%, 09/01/31 |
88 | 75,718 | ||||||
Tap Rock Resources LLC, 7.00%, 10/01/26(b) |
516 | 531,480 | ||||||
TransCanada PipeLines Ltd., 4.63%, 03/01/34 |
500 | 458,140 | ||||||
Transocean Titan Financing Ltd., 8.38%, 02/01/28(b) |
125 | 127,656 | ||||||
Transocean, Inc.(b) |
||||||||
7.50%, 01/15/26 |
174 | 165,300 | ||||||
11.50%, 01/30/27 |
106 | 109,842 |
28 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Transocean, Inc.(b) (continued) |
||||||||
8.75%, 02/15/30 |
USD | 689 | $ | 699,335 | ||||
Venture Global Calcasieu Pass LLC(b) |
||||||||
3.88%, 08/15/29 |
200 | 174,718 | ||||||
4.13%, 08/15/31 |
301 | 258,850 | ||||||
3.88%, 11/01/33(e) |
575 | 470,859 | ||||||
Venture Global LNG, Inc.(b) |
||||||||
8.13%, 06/01/28 |
890 | 903,915 | ||||||
8.38%, 06/01/31 |
1,365 | 1,376,148 | ||||||
Vermilion Energy, Inc., 6.88%, 05/01/30(b) |
108 | 99,543 | ||||||
Vivo Energy Investments BV, 5.13%, 09/24/27(b) |
200 | 180,192 | ||||||
Western Midstream Operating LP |
||||||||
6.15%, 04/01/33 |
50 | 50,395 | ||||||
5.45%, 04/01/44 |
137 | 115,734 | ||||||
5.30%, 03/01/48 |
75 | 62,604 | ||||||
5.50%, 08/15/48 |
69 | 57,702 | ||||||
5.50%, 02/01/50 |
545 | 446,393 | ||||||
|
|
|||||||
44,834,253 | ||||||||
Passenger Airlines — 1.3% | ||||||||
ABRA Global Finance, (6.00% Cash & 5.50% PIK), 11.50%, 03/02/28(b)(g) |
188 | 153,243 | ||||||
Air Canada, 3.88%, 08/15/26(b) |
83 | 76,929 | ||||||
Allegiant Travel Co., 7.25%, 08/15/27(b) |
80 | 79,705 | ||||||
American Airlines Pass-Through Trust |
||||||||
Series 2015-2, Class A, 4.00%, 03/22/29 |
1,003 | 900,183 | ||||||
Series 2015-2, Class AA, 3.60%, 09/22/27 |
1,003 | 931,878 | ||||||
American Airlines, Inc.(b) |
||||||||
11.75%, 07/15/25 |
551 | 604,187 | ||||||
7.25%, 02/15/28 |
47 | 46,720 | ||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(b) |
||||||||
5.50%, 04/20/26 |
212 | 210,543 | ||||||
5.75%, 04/20/29 |
411 | 399,477 | ||||||
Avianca Midco 2 PLC, 9.00%, 12/01/28(b) |
150 | 125,564 | ||||||
Deutsche Lufthansa AG, 2.88%, 05/16/27(d) |
EUR | 100 | 100,258 | |||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26(b)(e) |
USD | 138 | 130,622 | |||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(b) |
610 | 611,294 | ||||||
United Airlines Pass-Through Trust |
||||||||
Series 2013-1, Class A, 4.30%, 02/15/27 |
2,313 | 2,224,336 | ||||||
Series 2020-1, Class A, 5.88%, 04/15/29(e) |
225 | 223,016 | ||||||
United Airlines, Inc.(b) |
||||||||
4.38%, 04/15/26 |
373 | 354,390 | ||||||
4.63%, 04/15/29(e) |
235 | 214,124 | ||||||
VistaJet Malta Finance PLC/Vista Management Holding, Inc., 7.88%, 05/01/27(b) |
85 | 76,368 | ||||||
|
|
|||||||
7,462,837 | ||||||||
Pharmaceuticals — 1.6% | ||||||||
AbbVie, Inc. |
||||||||
3.20%, 05/14/26 |
500 | 473,881 | ||||||
4.55%, 03/15/35 |
2,140 | 2,037,864 | ||||||
4.45%, 05/14/46 |
2,095 | 1,844,637 | ||||||
Bristol-Myers Squibb Co. |
||||||||
3.55%, 03/15/42 |
350 | 290,194 | ||||||
4.35%, 11/15/47 |
300 | 271,255 | ||||||
Cheplapharm Arzneimittel GmbH, 3.50%, 02/11/27(d) |
EUR | 100 | 98,890 | |||||
CVS Health Corp. |
||||||||
5.13%, 07/20/45 |
USD | 700 | 647,592 | |||||
5.05%, 03/25/48 |
1,821 | 1,678,493 |
Security | Par (000) |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
Gruenenthal GmbH, 4.13%, 05/15/28(d) |
EUR | 100 | $ | 100,970 | ||||
Jazz Securities DAC, 4.38%, 01/15/29(b) |
USD | 200 | 178,438 | |||||
Option Care Health, Inc., 4.38%, 10/31/29(b)(e) |
166 | 146,106 | ||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV, 5.13%, 04/30/31(b)(e) |
387 | 319,284 | ||||||
Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30 |
500 | 415,525 | ||||||
Teva Pharmaceutical Finance Netherlands II BV, 7.38%, 09/15/29 |
EUR | 100 | 111,328 | |||||
Teva Pharmaceutical Finance Netherlands III BV |
||||||||
7.13%, 01/31/25 |
USD | 200 | 201,258 | |||||
3.15%, 10/01/26 |
299 | 266,297 | ||||||
4.75%, 05/09/27 |
200 | 183,777 | ||||||
7.88%, 09/15/29(e) |
200 | 205,218 | ||||||
|
|
|||||||
9,471,007 | ||||||||
Real Estate — 0.0% | ||||||||
VICI Properties LP/VICI Note Co., Inc., 4.50%, 01/15/28(b) |
68 | 62,478 | ||||||
|
|
|||||||
Real Estate Management & Development — 0.4% | ||||||||
Agps Bondco PLC, 5.50%, 11/13/26(d)(j)(k) |
EUR | 100 | 41,466 | |||||
China SCE Group Holdings Ltd., 7.38%, 04/09/24(d) |
USD | 200 | 58,924 | |||||
CIFI Holdings Group Co. Ltd., 6.45%, 11/07/24(d)(j)(k) |
200 | 21,500 | ||||||
Country Garden Holdings Co. Ltd., 6.50%, 04/08/24(d)(e) |
200 | 117,528 | ||||||
Easy Tactic Ltd., (6.50% Cash or 7.50% PIK), 7.50%, 07/11/27(g) |
218 | 16,440 | ||||||
Fantasia Holdings Group Co. Ltd.(j)(k) |
||||||||
11.75%, 04/17/22(d) |
200 | 12,000 | ||||||
10.88%, 01/09/23 |
307 | 18,420 | ||||||
11.88%, 06/01/23 |
400 | 24,000 | ||||||
9.25%, 07/28/23(d) |
300 | 18,000 | ||||||
Global Prime Capital Pte. Ltd., 5.95%, 01/23/25(d) |
200 | 190,442 | ||||||
i-595 Express LLC, 3.31%, 12/31/31(c) |
696 | 640,063 | ||||||
Modern Land China Co. Ltd., (9.00% Cash or 9.00% PIK), 9.00%, 12/30/26(d)(g)(j)(k) |
226 | 11,273 | ||||||
Realogy Group LLC/Realogy Co.-Issuer Corp.(b) |
||||||||
5.75%, 01/15/29 |
180 | 134,678 | ||||||
5.25%, 04/15/30 |
91 | 64,672 | ||||||
Ronshine China Holdings Ltd., 7.35%, 12/15/23(d)(j)(k) |
200 | 9,000 | ||||||
Theta Capital Pte. Ltd., 8.13%, 01/22/25(d) |
200 | 166,246 | ||||||
VICI Properties LP, 5.13%, 05/15/32(e) |
439 | 410,748 | ||||||
Wanda Properties Overseas Ltd., 6.88%, 07/23/23(d) |
200 | 181,000 | ||||||
Yuzhou Group Holdings Co. Ltd.(d)(j)(k) |
||||||||
7.70%, 02/20/25 |
263 | 14,465 | ||||||
7.38%, 01/13/26 |
200 | 11,000 | ||||||
Zhenro Properties Group Ltd., 7.88%, 04/14/24(d)(j)(k) |
200 | 8,000 | ||||||
|
|
|||||||
2,169,865 | ||||||||
Semiconductors & Semiconductor Equipment — 1.0% | ||||||||
Broadcom, Inc. |
||||||||
4.75%, 04/15/29 |
2,500 | 2,418,494 | ||||||
4.15%, 04/15/32(b) |
1,500 | 1,358,656 | ||||||
Intel Corp. |
||||||||
5.13%, 02/10/30 |
750 | 754,600 | ||||||
2.00%, 08/12/31(e) |
1,000 | 816,903 | ||||||
QUALCOMM, Inc., 4.65%, 05/20/35 |
250 | 249,554 | ||||||
Sensata Technologies BV(b) |
||||||||
5.00%, 10/01/25 |
70 | 68,532 | ||||||
5.88%, 09/01/30 |
200 | 194,457 | ||||||
|
|
|||||||
5,861,196 | ||||||||
Software — 2.0% | ||||||||
ACI Worldwide, Inc., 5.75%, 08/15/26(b) |
262 | 255,450 |
S C H E D U L E O F I N V E S T M E N T S |
29 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Software (continued) | ||||||||
Alteryx, Inc., 8.75%, 03/15/28(b)(e) |
USD | 174 | $ | 170,918 | ||||
Boxer Parent Co., Inc. |
||||||||
6.50%, 10/02/25(d) |
EUR | 100 | 107,610 | |||||
7.13%, 10/02/25(b) |
USD | 187 | 187,165 | |||||
9.13%, 03/01/26(b) |
948 | 943,260 | ||||||
Capstone Borrower, Inc., 8.00%, 06/15/30 |
205 | 202,440 | ||||||
Central Parent, Inc./CDK Global, Inc., 7.25%, 06/15/29(b) |
533 | 527,025 | ||||||
Cloud Software Group, Inc. |
||||||||
6.50%, 03/31/29(b) |
2,143 | 1,908,086 | ||||||
9.00%, 09/30/29 |
989 | 863,827 | ||||||
Consensus Cloud Solutions, Inc.(b) |
||||||||
6.00%, 10/15/26 |
48 | 43,560 | ||||||
6.50%, 10/15/28 |
45 | 38,475 | ||||||
Crowdstrike Holdings, Inc., 3.00%, 02/15/29 |
30 | 25,870 | ||||||
Elastic NV, 4.13%, 07/15/29(b) |
129 | 111,285 | ||||||
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32(b) |
65 | 56,110 | ||||||
Microsoft Corp., 2.92%, 03/17/52(e) |
1,600 | 1,190,348 | ||||||
MicroStrategy, Inc., 6.13%, 06/15/28(b)(e) |
305 | 273,461 | ||||||
Open Text Corp., 6.90%, 12/01/27(b) |
303 | 308,463 | ||||||
Oracle Corp. |
||||||||
5.38%, 07/15/40(e) |
3,025 | 2,886,934 | ||||||
4.00%, 11/15/47 |
400 | 307,954 | ||||||
3.95%, 03/25/51 |
600 | 453,673 | ||||||
SS&C Technologies, Inc., 5.50%, 09/30/27(b) |
647 | 619,391 | ||||||
Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25(b) |
189 | 153,358 | ||||||
|
|
|||||||
11,634,663 | ||||||||
Specialized REITs — 0.1% | ||||||||
Iron Mountain, Inc., 7.00%, 02/15/29 |
357 | 357,600 | ||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 10.50%, 02/15/28(b) |
344 | 341,270 | ||||||
|
|
|||||||
698,870 | ||||||||
Specialty Retail(b) — 0.1% | ||||||||
Arko Corp., 5.13%, 11/15/29 |
123 | 99,959 | ||||||
PetSmart, Inc./PetSmart Finance Corp., 7.75%, 02/15/29(e) |
493 | 489,834 | ||||||
Staples, Inc., 7.50%, 04/15/26 |
113 | 93,328 | ||||||
|
|
|||||||
683,121 | ||||||||
Technology Hardware, Storage & Peripherals — 0.7% | ||||||||
Apple, Inc.(e) |
||||||||
4.65%, 02/23/46 |
2,400 | 2,367,700 | ||||||
3.75%, 11/13/47 |
1,000 | 865,576 | ||||||
Coherent Corp., 5.00%, 12/15/29(b)(e) |
404 | 364,655 | ||||||
Seagate HDD Cayman(b) |
||||||||
8.25%, 12/15/29 |
243 | 253,806 | ||||||
8.50%, 07/15/31 |
307 | 321,948 | ||||||
|
|
|||||||
4,173,685 | ||||||||
Textiles, Apparel & Luxury Goods(b) — 0.1% | ||||||||
Hanesbrands, Inc. |
||||||||
4.88%, 05/15/26 |
65 | 60,680 | ||||||
9.00%, 02/15/31(e) |
203 | 204,597 | ||||||
Levi Strauss & Co., 3.50%, 03/01/31 |
11 | 9,102 | ||||||
|
|
|||||||
274,379 | ||||||||
Tobacco — 0.8% | ||||||||
Altria Group, Inc. |
||||||||
2.45%, 02/04/32 |
200 | 155,971 | ||||||
5.38%, 01/31/44 |
2,000 | 1,880,446 |
Security | Par (000) |
Value | ||||||
Tobacco (continued) | ||||||||
Reynolds American, Inc. |
||||||||
4.45%, 06/12/25 |
USD | 635 | $ | 617,055 | ||||
7.00%, 08/04/41 |
1,000 | 992,667 | ||||||
5.85%, 08/15/45 |
1,500 | 1,333,957 | ||||||
|
|
|||||||
4,980,096 | ||||||||
Transportation Infrastructure — 0.4% | ||||||||
Aeropuertos Dominicanos Siglo XXI SA, 6.75%, 03/30/29(b) |
200 | 192,478 | ||||||
Azzurra Aeroporti SpA, 2.63%, 05/30/27(d) |
EUR | 100 | 97,778 | |||||
FedEx Corp., 4.75%, 11/15/45(e) |
USD | 1,250 | 1,110,905 | |||||
GMR Hyderabad International Airport Ltd., 4.25%, 10/27/27(d) |
200 | 176,988 | ||||||
Transurban Finance Co. Pty. Ltd., 4.13%, 02/02/26(b) |
580 | 557,920 | ||||||
XPO Escrow Sub LLC, 7.50%, 11/15/27(b) |
60 | 61,310 | ||||||
|
|
|||||||
2,197,379 | ||||||||
Wireless Telecommunication Services — 1.1% | ||||||||
Altice France SA/France(b) |
||||||||
5.13%, 07/15/29 |
544 | 386,171 | ||||||
5.50%, 10/15/29 |
200 | 143,028 | ||||||
Crown Castle, Inc., 3.10%, 11/15/29 |
750 | 653,019 | ||||||
Kenbourne Invest SA, 6.88%, 11/26/24(b) |
210 | 182,276 | ||||||
Millicom International Cellular SA, 4.50%, 04/27/31(b) |
200 | 153,100 | ||||||
Rogers Communications, Inc., 7.50%, 08/15/38 |
2,325 | 2,577,531 | ||||||
SBA Communications Corp., 3.13%, 02/01/29(e) |
321 | 272,097 | ||||||
T-Mobile U.S., Inc. |
||||||||
2.55%, 02/15/31 |
500 | 415,605 | ||||||
4.50%, 04/15/50 |
500 | 429,023 | ||||||
VICI Properties LP/VICI Note Co., Inc.(b) |
||||||||
5.63%, 05/01/24 |
37 | 36,772 | ||||||
3.50%, 02/15/25 |
75 | 71,663 | ||||||
4.25%, 12/01/26 |
73 | 68,290 | ||||||
4.63%, 12/01/29 |
378 | 343,175 | ||||||
4.13%, 08/15/30 |
174 | 153,195 | ||||||
Vmed O2 U.K. Financing I PLC, 4.50%, 07/15/31(d) |
GBP | 100 | 96,026 | |||||
Vodafone Group PLC 4.25%, 09/17/50(e) |
USD | 700 | 561,986 | |||||
(5-year EUR Swap + 3.49%), 6.50%, 08/30/84(a)(d) |
EUR | 100 | 109,634 | |||||
|
|
|||||||
6,652,591 | ||||||||
|
|
|||||||
Total Corporate Bonds — 68.2% (Cost: $429,256,771) |
|
402,655,727 | ||||||
|
|
|||||||
Floating Rate Loan Interests(a) |
||||||||
Aerospace & Defense — 0.2% | ||||||||
Peraton Corp. |
||||||||
2nd Lien Term Loan B1, (3-mo. CME Term SOFR at 0.75% Floor + 7.75%), 12.98%, 02/01/29 |
USD | 404 | 391,290 | |||||
Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.95%, 02/01/28 |
518 | 507,633 | ||||||
|
|
|||||||
898,923 | ||||||||
Beverages — 0.0% | ||||||||
Naked Juice LLC, 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.34%, 01/24/30 |
20 | 15,750 | ||||||
|
|
|||||||
Broadline Retail — 0.0% | ||||||||
PUG LLC, USD Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.72%, 02/12/27 |
109 | 96,377 | ||||||
|
|
30 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Capital Markets — 0.0% |
||||||||||||
Ascensus Holdings, Inc., 2021 2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 6.50%), 11.69%, 08/02/29 |
USD | 122 | $ | 108,523 | ||||||||
|
|
|||||||||||
Chemicals — 0.2% | ||||||||||||
Arc Falcon I, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 09/30/28 |
126 | 116,860 | ||||||||||
Aruba Investments Holdings LLC, 2020 2nd Lien Term Loan, (1-mo. LIBOR US at 0.75% Floor + 7.75%), 12.94%, 11/24/28 |
64 | 56,672 | ||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 9.99%, 08/27/26 |
47 | 46,397 | ||||||||||
Discovery Purchaser Corp., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.38%), 9.62%, 10/04/29 |
360 | 343,870 | ||||||||||
Momentive Performance Materials USA LLC, 2023 Term Loan, (1-mo. CME Term SOFR + 4.50%), 9.60%, 03/29/28 |
149 | 144,664 | ||||||||||
Nouryon USA LLC, 2023 USD Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.32%, 04/03/28 |
160 | 158,249 | ||||||||||
|
|
|||||||||||
866,712 | ||||||||||||
Commercial Services & Supplies — 0.0% | ||||||||||||
Amentum Government Services Holdings LLC, Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.22%, 01/29/27(c) |
41 | 40,027 | ||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 4.25%), 9.52%, 12/15/28 |
93 | 76,194 | ||||||||||
TruGreen LP, 2020 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 8.50%), 13.77%, 11/02/28(c) |
106 | 60,420 | ||||||||||
|
|
|||||||||||
176,641 | ||||||||||||
Construction & Engineering — 0.3% | ||||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (1-mo. LIBOR US at 1.00% Floor + 4.25%), 9.42%, 06/21/24 |
1,536 | 1,514,207 | ||||||||||
Propulsion BC Newco LLC, Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.99%, 09/14/29 |
70 | 69,563 | ||||||||||
|
|
|||||||||||
1,583,770 | ||||||||||||
Containers & Packaging — 0.0% | ||||||||||||
Mauser Packaging Solutions Holding Co., Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.16%, 08/14/26 |
96 | 95,613 | ||||||||||
Trident TPI Holdings, Inc., 2023 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.74%, 09/15/28 |
171 | 168,408 | ||||||||||
|
|
|||||||||||
264,021 | ||||||||||||
Diversified Consumer Services — 0.0% | ||||||||||||
Ascend Learning LLC |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.75%), 10.95%, 12/10/29 |
83 | 70,204 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.70%, 12/11/28 |
72 | 67,353 | ||||||||||
WCG Intermediate Corp., 2019 Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.00%), 9.22%, 01/08/27 |
117 | 115,023 | ||||||||||
|
|
|||||||||||
252,580 |
Security | Par (000) |
Value | ||||||||||
Diversified Telecommunication Services — 0.1% |
| |||||||||||
Frontier Communications Holdings LLC, 2021 1st Lien Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.75%), 9.00%, 05/01/28 |
USD | 144 | $ | 138,926 | ||||||||
Radiate Holdco LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 09/25/26 |
39 | 31,949 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.22%, 03/09/27 |
327 | 256,167 | ||||||||||
|
|
|||||||||||
427,042 | ||||||||||||
Energy Equipment & Services — 0.0% | ||||||||||||
Lealand Finance Co. BV, 2020 Make Whole Term Loan, (3-mo. CME Term SOFR + 3.00%), 8.22%, 06/28/24 |
8 | 6,266 | ||||||||||
|
|
|||||||||||
Entertainment — 0.0% | ||||||||||||
Delta 2 Lux SARL, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.10%, 01/15/30 |
63 | 62,968 | ||||||||||
EP Purchaser LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.00%, 11/06/28 |
101 | 98,399 | ||||||||||
|
|
|||||||||||
161,367 | ||||||||||||
Financial Services — 0.1% | ||||||||||||
Altice France SA, 2023 USD Term Loan B14, (3-mo. CME Term SOFR + 5.50%), 10.49%, 08/15/28 |
94 | 82,869 | ||||||||||
Deerfield Dakota Holding LLC |
||||||||||||
2020 USD Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.75%), 8.99%, 04/09/27 |
103 | 100,206 | ||||||||||
2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 6.75%), 12.29%, 04/07/28 |
145 | 134,306 | ||||||||||
White Cap Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.75%), 8.85%, 10/19/27 |
298 | 294,582 | ||||||||||
|
|
|||||||||||
611,963 | ||||||||||||
Food Products — 0.0% | ||||||||||||
Chobani LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.72%, 10/25/27 |
33 | 32,452 | ||||||||||
|
|
|||||||||||
Health Care Equipment & Supplies — 0.1% | ||||||||||||
Bausch and Lomb, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.59%, 05/10/27 |
178 | 171,977 | ||||||||||
Chariot Buyer LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 11/03/28 |
221 | 215,802 | ||||||||||
|
|
|||||||||||
387,779 | ||||||||||||
Health Care Providers & Services — 0.1% | ||||||||||||
LifePoint Health, Inc., 2018 Term Loan B, (3-mo. LIBOR US + 3.75%), 9.02%, 11/16/25 |
131 | 121,504 | ||||||||||
Quorum Health Corp., 2020 Term Loan, (3-mo. LIBOR US at 1.00% Floor + 8.25%), 13.24%, 04/29/25 |
108 | 73,208 | ||||||||||
Surgery Center Holdings, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.75%), 8.90%, 08/31/26 |
113 | 112,464 | ||||||||||
|
|
|||||||||||
307,176 | ||||||||||||
Health Care Technology — 0.3% | ||||||||||||
AthenaHealth Group, Inc. |
||||||||||||
2022 Delayed Draw Term loan, (1-mo. CME Term SOFR + 3.50%), 8.26%, 02/15/29 |
150 | 14,188 | ||||||||||
2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.59%, 02/15/29 |
1,219 | 1,174,496 |
S C H E D U L E O F I N V E S T M E N T S |
31 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Health Care Technology (continued) |
| |||||||||||
Polaris Newco LLC, USD Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 4.00%), 9.54%, 06/02/28 |
USD | 197 | $ | 180,864 | ||||||||
Verscend Holding Corp., 2021 Term Loan B, (1-mo. LIBOR US + 4.00%), 9.22%, 08/27/25 |
625 | 624,215 | ||||||||||
|
|
|||||||||||
1,993,763 | ||||||||||||
Hotels, Restaurants & Leisure — 0.1% | ||||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.10%, 01/27/29 |
169 | 166,551 | ||||||||||
IRB Holding Corp., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.20%, 12/15/27 |
110 | 109,578 | ||||||||||
|
|
|||||||||||
276,129 | ||||||||||||
Household Durables — 0.1% | ||||||||||||
Hunter Douglas, Inc., USD Term Loan B1, (3-mo. CME Term SOFR + 3.50%), 8.67%, 02/26/29 |
146 | 137,663 | ||||||||||
Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.22%, 10/06/28 |
281 | 226,979 | ||||||||||
|
|
|||||||||||
364,642 | ||||||||||||
Insurance — 0.0% | ||||||||||||
Alliant Holdings Intermediate LLC, 2021 Term Loan B4, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.65%, 11/06/27 |
93 | 92,429 | ||||||||||
HUB International Ltd., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.07%, 11/10/29 |
139 | 138,980 | ||||||||||
|
|
|||||||||||
231,409 | ||||||||||||
Interactive Media & Services — 0.0% | ||||||||||||
Acuris Finance U.S., Inc., 2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.39%, 02/16/28 |
66 | 64,762 | ||||||||||
Grab Holdings, Inc., Term Loan B, (1-mo. LIBOR US at 1.00% Floor + 4.50%), 9.70%, 01/29/26 |
23 | 22,945 | ||||||||||
|
|
|||||||||||
87,707 | ||||||||||||
IT Services — 0.1% | ||||||||||||
Epicor Software Corp. |
||||||||||||
2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 7.75%), 12.95%, 07/31/28 |
62 | 61,858 | ||||||||||
2020 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 07/30/27 |
89 | 87,910 | ||||||||||
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.34%, 10/01/27 |
300 | 295,108 | ||||||||||
Quartz Acquireco LLC, Term Loan B, 06/28/30(c)(l) |
100 | 99,875 | ||||||||||
|
|
|||||||||||
544,751 | ||||||||||||
Leisure Products — 0.0% | ||||||||||||
Peloton Interactive, Inc., Term Loan, (6-mo. CME Term SOFR at 0.50% Floor + 6.50%), 12.26%, 05/25/27 |
70 | 69,939 | ||||||||||
|
|
|||||||||||
Life Sciences Tools & Services — 0.0% | ||||||||||||
Fortrea Holdings, Inc., Term Loan B, 06/12/30(l) |
71 | 70,965 | ||||||||||
|
|
|||||||||||
Machinery — 0.2% | ||||||||||||
Madison IAQ LLC, Term Loan, (6-mo. LIBOR US at 0.50% Floor + 3.25%), 8.30%, 06/21/28 |
132 | 128,801 | ||||||||||
Roper Industrial Products Investment Co., USD Term Loan, (3-mo. CME Term SOFR + 4.50%), 9.74%, 11/22/29 |
203 | 202,473 |
Security | Par (000) |
Value | ||||||||||
Machinery (continued) |
||||||||||||
SPX Flow, Inc., 2022 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.70%, 04/05/29 |
USD | 185 | $ | 182,199 | ||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (3-mo. LIBOR US + 3.00%), 8.73%, 03/28/25 |
596 | 581,243 | ||||||||||
|
|
|||||||||||
1,094,716 | ||||||||||||
Media — 0.3% | ||||||||||||
AVSC Holding Corp., 2018 2nd Lien Term Loan, (1-mo. LIBOR US at 1.00% Floor + 7.25%), 12.43%, 09/01/25 |
156 | 139,348 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3-mo. LIBOR US + 3.50%), 8.81%, 08/21/26 |
926 | 878,134 | ||||||||||
DirecTV Financing LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.22%, 08/02/27 |
556 | 542,531 | ||||||||||
Intelsat Jackson Holdings SA, 2021 Exit Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.44%, 02/01/29 |
384 | 381,954 | ||||||||||
|
|
|||||||||||
1,941,967 | ||||||||||||
Metals & Mining — 0.0% | ||||||||||||
Grinding Media, Inc., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.20%, 10/12/28 |
63 | 61,028 | ||||||||||
|
|
|||||||||||
Oil, Gas & Consumable Fuels — 0.0% | ||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 8.75%, 12/21/28 |
170 | 166,655 | ||||||||||
M6 ETX Holdings II Midco LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.68%, 09/19/29 |
78 | 77,017 | ||||||||||
|
|
|||||||||||
243,672 | ||||||||||||
Passenger Airlines — 0.2% | ||||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.00%, 04/20/28 |
433 | 441,436 | ||||||||||
Air Canada, 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.50%), 8.84%, 08/11/28 |
208 | 207,468 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3-mo. LIBOR US at 1.00% Floor + 5.25%), 10.76%, 06/21/27 |
99 | 102,821 | ||||||||||
United Airlines, Inc., 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.75%), 9.29%, 04/21/28 |
332 | 332,060 | ||||||||||
|
|
|||||||||||
1,083,785 | ||||||||||||
Pharmaceuticals — 0.0% | ||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.72%, 05/04/25 |
48 | 46,241 | ||||||||||
|
|
|||||||||||
Professional Services — 0.1% | ||||||||||||
CoreLogic, Inc., Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.75%, 06/02/28 |
86 | 77,332 | ||||||||||
Dun & Bradstreet Corp., Term Loan, (1-mo. CME Term SOFR + 3.25%), 8.43%, 02/06/26 |
109 | 109,232 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 9.85%, 04/29/29(c) |
139 | 130,266 | ||||||||||
|
|
|||||||||||
316,830 | ||||||||||||
Software — 0.8% | ||||||||||||
Boxer Parent Co., Inc., 2021 USD 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.50%), 10.72%, 02/27/26 |
279 | 270,862 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 18.65%, 07/06/29. |
118 | 117,995 | ||||||||||
Cloud Software Group, Inc., 2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.84%, 03/30/29 |
438 | 408,891 | ||||||||||
Cloudera, Inc. |
||||||||||||
2021 Second Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.08%, 10/08/29(c) |
234 | 210,277 |
32 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Software (continued) |
| |||||||||||
Cloudera, Inc. (continued) |
||||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 10/08/28 |
USD | 198 | $ | 192,362 | ||||||||
Delta TopCo, Inc., 2020 Term Loan B, (6-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.07%, 12/01/27 |
113 | 109,422 | ||||||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3-mo. CME Term SOFR + 3.75%), 9.14%, 03/11/28 |
80 | 79,266 | ||||||||||
Magenta Buyer LLC |
||||||||||||
2021 USD 1st Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.03%, 07/27/28 |
563 | 421,999 | ||||||||||
2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 8.25%), 13.53%, 07/27/29 |
280 | 180,600 | ||||||||||
McAfee Corp., 2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.01%, 03/01/29 |
472 | 450,250 | ||||||||||
MH Sub I LLC |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 6.25%), 11.35%, 02/23/29 |
35 | 30,341 | ||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.35%, 05/03/28 |
427 | 409,066 | ||||||||||
Planview Parent, Inc., 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.59%, 12/18/28. |
103 | 90,640 | ||||||||||
Proofpoint, Inc. |
||||||||||||
1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.47%, 08/31/28 |
19 | 18,591 | ||||||||||
2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.25%), 11.47%, 08/31/29 |
250 | 241,682 | ||||||||||
RealPage, Inc., 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.22%, 04/24/28 |
216 | 211,233 | ||||||||||
Sabre Global, Inc. |
||||||||||||
2021 Term Loan B1, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 12/17/27 |
54 | 41,979 | ||||||||||
2021 Term Loan B2, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 12/17/27 |
85 | 65,852 | ||||||||||
Sophia LP, 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 9.04%, 10/07/27 |
485 | 479,728 | ||||||||||
Sovos Compliance LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.72%, 08/11/28 |
117 | 112,727 | ||||||||||
UKG, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.27%, 05/03/27 |
295 | 285,252 | ||||||||||
Ultimate Software Group, Inc. |
||||||||||||
2021 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.27%, 05/04/26 |
185 | 181,742 | ||||||||||
Term Loan B, (3-mo. CME Term SOFR + 3.75%), 8.90%, 05/04/26 |
143 | 141,075 | ||||||||||
|
|
|||||||||||
4,751,832 | ||||||||||||
Textiles, Apparel & Luxury Goods — 0.0% | ||||||||||||
Hanesbrands, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.85%, 03/08/30(c) |
75 | 75,000 | ||||||||||
|
|
|||||||||||
Trading Companies & Distributors — 0.0% | ||||||||||||
SRS Distribution, Inc., 2022 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.70%, 06/02/28 |
175 | 170,321 | ||||||||||
|
|
Security | Par (000) |
Value | ||||||||||
Transportation Infrastructure — 0.1% |
| |||||||||||
Apple Bidco LLC, 2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.10%, 09/22/28 |
USD | 115 | $ | 113,995 | ||||||||
Brown Group Holding LLC, 2022 Incremental Term Loan B2, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.85%, 07/02/29 |
225 | 224,131 | ||||||||||
|
|
|||||||||||
338,126 | ||||||||||||
Wireless Telecommunication Services — 0.1% | ||||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1-mo. LIBOR US + 3.25%), 8.98%, 05/28/24 |
371 | 339,744 | ||||||||||
|
|
|||||||||||
Total Floating Rate Loan Interests — 3.5% (Cost: $21,005,010) |
|
20,299,909 | ||||||||||
|
|
|||||||||||
Foreign Agency Obligations |
||||||||||||
Bahrain — 0.0% | ||||||||||||
Bahrain Government International Bond, 5.45%, 09/16/32(d) |
200 | 178,142 | ||||||||||
|
|
|||||||||||
Canada — 1.1% | ||||||||||||
CDP Financial, Inc., 5.60%, 11/25/39(b)(e) |
5,890 | 6,338,227 | ||||||||||
|
|
|||||||||||
Colombia — 0.2% | ||||||||||||
Colombia Government International Bond |
||||||||||||
4.50%, 01/28/26 |
300 | 284,784 | ||||||||||
3.88%, 04/25/27 |
200 | 181,054 | ||||||||||
3.13%, 04/15/31 |
400 | 302,108 | ||||||||||
8.00%, 04/20/33(e) |
200 | 203,350 | ||||||||||
|
|
|||||||||||
971,296 | ||||||||||||
Dominican Republic — 0.2% | ||||||||||||
Dominican Republic International Bond |
||||||||||||
6.88%, 01/29/26(d) |
115 | 115,780 | ||||||||||
5.95%, 01/25/27(d) |
228 | 222,943 | ||||||||||
4.50%, 01/30/30(b) |
226 | 197,519 | ||||||||||
7.05%, 02/03/31(b) |
150 | 149,418 | ||||||||||
4.88%, 09/23/32(b) |
300 | 255,303 | ||||||||||
|
|
|||||||||||
940,963 | ||||||||||||
Egypt — 0.0% | ||||||||||||
Egypt Government International Bond, 7.50%, 02/16/61(b) |
219 | 109,165 | ||||||||||
|
|
|||||||||||
Guatemala — 0.1% | ||||||||||||
Guatemala Government Bond(b) |
||||||||||||
5.25%, 08/10/29 |
200 | 190,184 | ||||||||||
5.38%, 04/24/32 |
200 | 189,542 | ||||||||||
|
|
|||||||||||
379,726 | ||||||||||||
Ivory Coast — 0.1% | ||||||||||||
Ivory Coast Government International Bond, 6.38%, 03/03/28(d) |
400 | 384,604 | ||||||||||
|
|
|||||||||||
Morocco — 0.0% | ||||||||||||
Morocco Government International Bond, 2.38%, 12/15/27(b) |
200 | 174,420 | ||||||||||
|
|
|||||||||||
Oman — 0.1% | ||||||||||||
Oman Government International Bond(d) |
||||||||||||
6.50%, 03/08/47 |
228 | 211,858 | ||||||||||
6.75%, 01/17/48(e) |
200 | 191,706 | ||||||||||
|
|
|||||||||||
403,564 |
S C H E D U L E O F I N V E S T M E N T S |
33 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Pakistan — 0.0% |
||||||||||||
Pakistan Government International Bond, 6.00%, 04/08/26(d) |
USD | 200 | $ | 96,208 | ||||||||
|
|
|||||||||||
Paraguay — 0.0% | ||||||||||||
Paraguay Government International Bond, 5.40%, 03/30/50(b) |
200 | 171,318 | ||||||||||
|
|
|||||||||||
Romania — 0.1% | ||||||||||||
Romanian Government International Bond |
||||||||||||
5.25%, 11/25/27(b) |
204 | 198,906 | ||||||||||
2.50%, 02/08/30(d) |
EUR | 222 | 199,214 | |||||||||
2.12%, 07/16/31(d) |
226 | 186,248 | ||||||||||
|
|
|||||||||||
584,368 | ||||||||||||
Senegal — 0.0% | ||||||||||||
Senegal Government International Bond, 6.25%, 05/23/33(d)(e) |
USD | 200 | 166,820 | |||||||||
|
|
|||||||||||
South Africa — 0.1% | ||||||||||||
Republic of South Africa Government International Bond |
||||||||||||
4.85%, 09/30/29 |
200 | 175,668 | ||||||||||
5.88%, 04/20/32(e) |
200 | 177,132 | ||||||||||
|
|
|||||||||||
352,800 | ||||||||||||
Sri Lanka — 0.0% | ||||||||||||
Sri Lanka Government International Bond(d)(j)(k) |
||||||||||||
6.85%, 03/14/24 |
432 | 189,147 | ||||||||||
7.85%, 03/14/29(e) |
200 | 87,550 | ||||||||||
|
|
|||||||||||
276,697 | ||||||||||||
Ukraine — 0.0% | ||||||||||||
Ukraine Government International Bond(j)(k) |
||||||||||||
7.75%, 09/01/27(d) |
385 | 91,072 | ||||||||||
7.25%, 03/15/35(b) |
200 | 45,754 | ||||||||||
|
|
|||||||||||
136,826 | ||||||||||||
|
|
|||||||||||
Total Foreign Agency Obligations — 2.0% (Cost: $12,295,885) |
11,665,144 | |||||||||||
|
|
|||||||||||
Municipal Bonds |
| |||||||||||
California — 1.2% | ||||||||||||
City of Los Angeles California, GO, Series A, 5.00%, 09/01/42 |
2,000 | 1,989,960 | ||||||||||
East Bay Municipal Utility District Water System Revenue, RB, BAB, 5.87%, 06/01/40 |
1,900 | 2,083,648 | ||||||||||
Oxnard Union High School District, Refunding GO, (BAM), 3.18%, 08/01/43 |
1,600 | 1,185,152 | ||||||||||
State of California, Refunding GO, 5.13%, 03/01/38 |
1,000 | 997,276 | ||||||||||
University of California, RB, BAB, 5.95%, 05/15/45 |
885 | 961,826 | ||||||||||
|
|
|||||||||||
7,217,862 | ||||||||||||
Georgia — 0.4% | ||||||||||||
Municipal Electric Authority of Georgia, Refunding RB, BAB, 7.06%, 04/01/57 |
1,907 | 2,007,449 | ||||||||||
|
|
|||||||||||
Hawaii — 0.3% | ||||||||||||
City & County Honolulu HI Wastewater System Revenue, Refunding RB, Series A, 2.62%, 07/01/45 |
1,000 | 664,624 | ||||||||||
State of Hawaii, GO, Series GK, 6.15%, 10/01/38 |
1,000 | 1,086,213 | ||||||||||
|
|
|||||||||||
1,750,837 |
Security | Par (000) |
Value | ||||||||||
Illinois — 0.3% |
||||||||||||
State of Illinois, GO, 5.10%, 06/01/33 |
USD | 2,000 | $ | 1,960,802 | ||||||||
|
|
|||||||||||
Massachusetts — 0.1% | ||||||||||||
University of Massachusetts Building Authority, Refunding RB, Series 3, 3.43%, 11/01/40 |
500 | 404,174 | ||||||||||
|
|
|||||||||||
New York — 1.2% | ||||||||||||
Metropolitan Transportation Authority, RB, BAB, 7.34%, 11/15/39 |
1,295 | 1,609,779 | ||||||||||
New York City Industrial Development Agency, Refunding RB, (AGM), 3.19%, 03/01/40 |
165 | 125,593 | ||||||||||
New York City Municipal Water Finance Authority, Refunding RB, BAB, 5.72%, 06/15/42 |
1,390 | 1,520,164 | ||||||||||
New York State Dormitory Authority, RB, BAB |
||||||||||||
Series D, 5.60%, 03/15/40 |
1,900 | 2,015,761 | ||||||||||
Series F, 5.63%, 03/15/39 |
1,100 | 1,152,808 | ||||||||||
Port Authority of New York & New Jersey, RB, 159th Series, 6.04%, 12/01/29 |
780 | 833,100 | ||||||||||
|
|
|||||||||||
7,257,205 | ||||||||||||
|
|
|||||||||||
Total Municipal Bonds — 3.5% (Cost: $19,978,919) |
20,598,329 | |||||||||||
|
|
|||||||||||
Non-Agency Mortgage-Backed Securities |
| |||||||||||
Collateralized Mortgage Obligations — 9.0% | ||||||||||||
Alternative Loan Trust |
||||||||||||
Series 2005-64CB, Class 1A15, 5.50%, 12/25/35 |
401 | 354,558 | ||||||||||
Series 2006-OA21, Class A1, (1-mo. LIBOR US + 0.19%), 5.35%, 03/20/47(a) |
365 | 298,922 | ||||||||||
Series 2007-OA10, Class 2A1, (1-mo. LIBOR US + 0.50%), 5.65%, 09/25/47(a) |
4,064 | 562,223 | ||||||||||
Banc of America Funding Trust, Series 2007-2, Class 1A2, 6.00%, 03/25/37 |
218 | 178,279 | ||||||||||
Bravo Residential Funding Trust |
||||||||||||
4.85%, 09/25/62 |
487 | 473,937 | ||||||||||
6.44%, 05/25/63 |
1,497 | 1,492,870 | ||||||||||
Series 2021-NQM1, Class A1, 0.94%, 02/25/49(a)(b) |
785 | 681,679 | ||||||||||
Chase Home Lending Mortgage Trust, Series 2019-ATR1, Class A12, 6.50%, 04/25/49(a)(b) |
538 | 535,939 | ||||||||||
CIM TRUST |
||||||||||||
6.03%, 04/25/58 |
1,338 | 1,316,277 | ||||||||||
6.64%, 12/25/67 |
1,321 | 1,321,438 | ||||||||||
COLT Mortgage Loan Trust(b) |
||||||||||||
Series 2020-2, Class M1, 5.25%, 03/25/65(a) |
3,050 | 2,906,732 | ||||||||||
Series 2020-3, Class M1, 3.36%, 04/27/65(a) |
3,820 | 3,359,663 | ||||||||||
Series 2022-1, Class A1, 4.55%, 04/25/67(a) |
1,591 | 1,527,737 | ||||||||||
Series 2022-7, Class A1, 5.16%, 04/25/67 |
2,211 | 2,151,786 | ||||||||||
Series 2022-9, Class A1, 6.79%, 12/25/67 |
364 | 363,883 | ||||||||||
Credit Suisse Mortgage Capital Certificates Trust, Series 2022-NQM5, Class A1, 5.17%, 05/25/67(a)(b) |
2,810 | 2,726,572 | ||||||||||
Deephaven Residential Mortgage Trust, Series 2022-2, Class A1, 4.30%, 03/25/67(a)(b) |
284 | 263,333 | ||||||||||
Ellington Financial Mortgage Trust(a)(b) |
||||||||||||
Series 2020-1, Class M1, 5.24%, 05/25/65 |
1,500 | 1,403,392 | ||||||||||
Series 2021-2, Class A1, 0.93%, 06/25/66 |
206 | 162,782 | ||||||||||
GCAT Trust, Series 2022-NQM3, Class A1, 4.35%, 04/25/67(a)(b) |
1,161 | 1,097,686 |
34 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Collateralized Mortgage Obligations (continued) |
| |||||||||||
GMACM Mortgage Loan Trust, Series 2005-AR3, Class 5A1, 3.89%, 06/19/35(a) |
USD | 93 | $ | 83,738 | ||||||||
GS Mortgage-Backed Securities Corp. Trust, Series 2022- PJ2, Class A4, 2.50%, 06/25/52(a)(b) |
1,081 | 867,603 | ||||||||||
GS Mortgage-Backed Securities Trust(a)(b) |
||||||||||||
Series 2021-PJ2, Class A2, 2.50%, 11/25/51 |
936 | 753,299 | ||||||||||
Series 2021-PJ7, Class A2, 2.50%, 01/25/52 |
2,440 | 1,964,987 | ||||||||||
GSR Mortgage Loan Trust, Series 2007-4F, Class 3A1, 6.00%, 07/25/37 |
83 | 54,609 | ||||||||||
Homeward Opportunities Fund Trust, Series 2022-1, Class A1, 5.08%, 07/25/67(b) |
1,236 | 1,190,448 | ||||||||||
JP Morgan Mortgage Trust |
||||||||||||
Series 2006-S3, Class 1A12, 6.50%, 08/25/36 |
42 | 15,048 | ||||||||||
Series 2022-DSC1, Class A1, 4.75%, 01/25/63(a)(b) |
483 | 451,481 | ||||||||||
Series 2022-INV3, Class A3B, 3.00%, 09/25/52(a)(b) |
764 | 640,407 | ||||||||||
Series 2023-DSC1, Class A1, 4.63%, 07/25/63(a)(b) |
342 | 317,375 | ||||||||||
Mello Mortgage Capital Acceptance, Series 2022-INV2, Class A3, 3.00%, 04/25/52(a)(b) |
799 | 667,525 | ||||||||||
Merrill Lynch Mortgage Investors Trust, Series 2006-A3, Class 3A1, 4.08%, 05/25/36(a) |
140 | 102,970 | ||||||||||
MFA Trust(b) |
||||||||||||
Series 2021-NQM1, Class M1, 2.31%, 04/25/65(a) |
2,750 | 1,967,423 | ||||||||||
Series 2023-NQM1, Class A1, 5.75%, 11/25/67 |
931 | 912,175 | ||||||||||
Mill City Mortgage Trust, 6.24%, 12/26/67 |
2,008 | 1,985,619 | ||||||||||
OBX Trust(b) |
||||||||||||
Series 2022-INC3, Class A1, 3.00%, 02/25/52(a) |
702 | 585,791 | ||||||||||
Series 2022-NQM9, Class A1A, 6.45%, 09/25/62 |
541 | 540,504 | ||||||||||
Series 2023-NQM1, Class A1, 6.12%, 11/25/62(a) |
758 | 754,109 | ||||||||||
Onslow Bay Financial LLC, 6.57%, 06/25/63 |
1,763 | 1,763,190 | ||||||||||
PRKCM Trust, 6.48%, 06/25/58 |
1,744 | 1,740,886 | ||||||||||
RCKT Mortgage Trust, Series 2022-2, Class A1, 3.00%, 02/25/52(a)(b) |
1,054 | 885,231 | ||||||||||
SG Residential Mortgage Trust, Series 2022-2, Class A1, 5.35%, 08/25/62(b) |
701 | 681,713 | ||||||||||
Spruce Hill Mortgage Loan Trust, Series 2022-SH1, Class A1A, 4.10%, 07/25/57(b) |
716 | 674,770 | ||||||||||
STAR Trust, Series 2021-1, Class M1, 2.36%, 05/25/65(a)(b) |
2,050 | 1,509,759 | ||||||||||
Starwood Mortgage Residential Trust, Series 2020-3, Class M1, 3.54%, 04/25/65(a)(b) |
2,000 | 1,609,256 | ||||||||||
Verus Securitization Trust |
||||||||||||
6.48%, 06/25/68 |
1,560 | 1,559,973 | ||||||||||
Series 2022-3, Class A1, 4.13%, 02/25/67(b) |
3,027 | 2,764,748 | ||||||||||
Series 2022-7, Class A1, 5.15%, 07/25/67(b) |
1,703 | 1,637,941 | ||||||||||
Series 2022-INV2, Class A1, 6.79%, 10/25/67(b) |
527 | 526,923 | ||||||||||
Series 2023-1, Class A1, 5.85%, 12/25/67(b) |
1,042 | 1,028,657 | ||||||||||
|
|
|||||||||||
53,417,846 | ||||||||||||
Commercial Mortgage-Backed Securities — 4.7% | ||||||||||||
3650R 2021-PF1 Commercial Mortgage Trust, Series 2021-PF1, Class A5, 2.52%, 11/15/54 |
1,250 | 991,087 | ||||||||||
BAMLL Commercial Mortgage Securities Trust, Series 2015-200P, Class C, 3.72%, 04/14/33(a)(b) |
4,170 | 3,773,870 | ||||||||||
Bayview Commercial Asset Trust, Series 2007-2A, Class A1, (1-mo. LIBOR US + 0.27%), 5.42%, 07/25/37(a)(b) |
673 | 595,420 |
Security | Par (000) |
Value | ||||||||||
Commercial Mortgage-Backed Securities (continued) |
| |||||||||||
BX Commercial Mortgage Trust(a)(b) |
||||||||||||
Series 2019-XL, Class A, (1-mo. Term SOFR + 1.03%), 6.18%, 10/15/36 |
USD | 1,096 | $ | 1,089,350 | ||||||||
Series 2021-CIP, Class A, (1-mo. LIBOR US + 0.92%), 6.11%, 12/15/38 |
605 | 589,822 | ||||||||||
Series 2021-SOAR, Class A, (1-mo. LIBOR US + 0.67%), 5.86%, 06/15/38 |
1,638 | 1,594,990 | ||||||||||
Series 2021-XL2, Class A, (1-mo. LIBOR US + 0.69%), 5.88%, 10/15/38 |
463 | 449,696 | ||||||||||
Series 2022-LP2, Class A, (1-mo. Term SOFR + 1.01%), 6.16%, 02/15/39 |
1,634 | 1,583,916 | ||||||||||
BX Trust(a)(b) |
||||||||||||
Series 2021-LBA, Class AJV, (1-mo. Term SOFR + 0.91%), 6.06%, 02/15/36 |
1,690 | 1,638,095 | ||||||||||
Series 2021-SDMF, Class A, (1-mo. LIBOR US + 0.59%), 5.78%, 09/15/34 |
199 | 192,008 | ||||||||||
Series 2022 VAMF, Class A, (1-mo. Term SOFR + 0.85%), 6.00%, 01/15/39 |
1,300 | 1,263,313 | ||||||||||
Series 2022-GPA, Class A, (1-mo. Term SOFR + 2.17%), 7.31%, 10/15/39 |
650 | 648,981 | ||||||||||
Cantor Commercial Real Estate Lending, Series 2019-CF2, Class A5, 2.87%, 11/15/52 |
550 | 459,460 | ||||||||||
Citigroup Commercial Mortgage Trust, Series 2019-SMRT, Class A, 4.15%, 01/10/36(b) |
700 | 695,265 | ||||||||||
Cold Storage Trust, Class A, (1-mo. LIBOR US + 0.90%), 6.09%, 11/15/37(a)(b) |
238 | 233,848 | ||||||||||
Credit Suisse Mortgage Capital Certificates Trust, Series 2020-FACT, Class D, (1-mo. LIBOR US + 3.71%), 8.90%, 10/15/37(a)(b) |
900 | 830,171 | ||||||||||
CSMC 2021-BHAR, Series 2021-BHAR, Class C, (1-mo. LIBOR US + 2.00%), 7.19%, 11/15/38(a)(b) |
300 | 292,307 | ||||||||||
Extended Stay America Trust, Series 2021-ESH, Class D, (1-mo. LIBOR US + 2.25%), 7.44%, 07/15/38(a)(b) |
800 | 777,316 | ||||||||||
GS Mortgage Securities Corp. Trust, Series 2022-SHIP, Class A, (1-mo. Term SOFR + 0.73%), 5.88%, 08/15/36(a)(b) |
700 | 695,190 | ||||||||||
GS Mortgage Securities Trust, Series 2019-GC38, Class AAB, 3.84%, 02/10/52 |
930 | 880,231 | ||||||||||
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2022-ACB, Class A, (30-day Avg SOFR + 1.40%), 6.47%, 03/15/39(a)(b) |
1,700 | 1,663,744 | ||||||||||
KKR Industrial Portfolio Trust, Series 2021-KDIP, Class A, (1-mo. Term SOFR + 0.66%), 5.81%, 12/15/37(a)(b) |
315 | 309,736 | ||||||||||
Lehman Brothers Small Balance Commercial Mortgage Trust, Series 2006-1A, Class B, (1-mo. LIBOR US + 1.00%), 6.15%, 04/25/31(a)(b) |
396 | 393,823 | ||||||||||
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A4, 3.31%, 04/15/48 |
1,200 | 1,138,114 | ||||||||||
STWD Trust 2021-FLWR, Series 2021-FLWR, Class A, (1-mo. LIBOR US + 0.58%), 5.77%, 07/15/36(a)(b) |
1,207 | 1,170,643 | ||||||||||
TPGI Trust 2021-DGWD, Series 2021-DGWA, Class A, (1-mo. LIBOR US + 0.70%), 5.89%, 06/15/26(a)(b) |
1,033 | 1,003,805 |
S C H E D U L E O F I N V E S T M E N T S |
35 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Commercial Mortgage-Backed Securities (continued) |
| |||||||||||
UBS Commercial Mortgage Trust, Series 2019-C18, Class A4, 3.04%, 12/15/52 |
USD | 1,200 | $ | 1,028,794 | ||||||||
Wells Fargo Commercial Mortgage Trust, Series 2016- LC25, Class A4, 3.64%, 12/15/59 |
1,700 | 1,581,024 | ||||||||||
|
|
|||||||||||
27,564,019 | ||||||||||||
|
|
|||||||||||
Total Non-Agency Mortgage-Backed Securities — 13.7% (Cost: $88,098,654) |
|
80,981,865 | ||||||||||
|
|
|||||||||||
Preferred Securities |
|
|||||||||||
Capital Trusts — 5.3%(a) | ||||||||||||
Banks(f) — 2.0% | ||||||||||||
AIB Group PLC, 5.25%(d) |
EUR | 200 | 203,574 | |||||||||
Banco Mercantil del Norte SA, 6.75%(b) |
USD | 200 | 191,768 | |||||||||
Bank of East Asia Ltd., 5.88%(d) |
250 | 227,828 | ||||||||||
Citigroup, Inc., Series P, 5.95% |
70 | 67,132 | ||||||||||
Hongkong & Shanghai Banking Corp. Ltd., Series 3H, 5.46% |
25 | 24,851 | ||||||||||
Industrial & Commercial Bank of China Ltd., 3.20%(d) |
250 | 232,692 | ||||||||||
ING Groep NV, Series NC10, 4.25% |
1,500 | 997,953 | ||||||||||
Kasikornbank PCL, 5.28%(d) |
300 | 282,138 | ||||||||||
Nordea Bank Abp, 6.13%(b) |
2,960 | 2,794,306 | ||||||||||
PNC Financial Services Group, Inc. 6.25%, 12/31/99(e) |
1,705 | 1,530,664 | ||||||||||
Series V, 6.20% |
205 | 191,091 | ||||||||||
Rizal Commercial Banking Corp., 6.50%(d) |
200 | 176,712 | ||||||||||
U.S. Bancorp, Series J, 5.30%(e) |
1,900 | 1,543,750 | ||||||||||
Wells Fargo & Co., Series S, 5.90% |
3,390 | 3,343,387 | ||||||||||
|
|
|||||||||||
11,807,846 | ||||||||||||
Capital Markets — 0.4% | ||||||||||||
Bank of New York Mellon Corp., 4.63%(f) |
2,750 | 2,433,750 | ||||||||||
|
|
|||||||||||
Diversified Telecommunication Services — 0.0% | ||||||||||||
Telefonica Europe BV, 6.14%(d)(f) |
EUR | 200 | 210,329 | |||||||||
|
|
|||||||||||
Electric Utilities — 0.5% | ||||||||||||
Edison International, Series B, 5.00%(f) |
USD | 115 | 99,349 | |||||||||
EDP - Energias de Portugal SA, 5.94%, 04/23/83(d) |
EUR | 100 | 108,030 | |||||||||
Electricite de France SA, 3.38%(d)(f) |
200 | 167,124 | ||||||||||
NextEra Energy Capital Holdings, Inc., 5.65%, 05/01/79 |
USD | 2,750 | 2,543,675 | |||||||||
|
|
|||||||||||
2,918,178 | ||||||||||||
Financial Services(f) — 2.3% | ||||||||||||
Bank of America Corp., Series FF, 5.88% |
3,500 | 3,206,875 | ||||||||||
Barclays PLC, 4.38% |
310 | 210,614 | ||||||||||
HSBC Holdings PLC(e) |
||||||||||||
6.50% |
1,090 | 981,803 | ||||||||||
6.00% |
435 | 388,781 | ||||||||||
JPMorgan Chase & Co., Series FF, 5.00% |
2,500 | 2,442,188 | ||||||||||
Lloyds Banking Group PLC |
||||||||||||
8.00% |
200 | 182,730 | ||||||||||
7.50% |
1,750 | 1,636,513 | ||||||||||
NatWest Group PLC, 6.00% |
1,575 | 1,456,875 | ||||||||||
Societe Generale SA, 7.88%(b) |
1,000 | 977,925 |
Security | Par (000) |
Value | ||||||||||
Financial Services (continued) |
| |||||||||||
UBS Group AG, 4.88%(b) |
USD | 2,000 | $ | 1,601,100 | ||||||||
Woori Bank, 4.25%(d) |
250 | 240,135 | ||||||||||
|
|
|||||||||||
13,325,539 | ||||||||||||
Independent Power and Renewable Electricity Producers(b)(f) — 0.1% | ||||||||||||
NRG Energy, Inc., 10.25% |
325 | 306,465 | ||||||||||
Vistra Corp., 7.00% |
162 | 141,345 | ||||||||||
|
|
|||||||||||
447,810 | ||||||||||||
|
|
|||||||||||
31,143,452 | ||||||||||||
|
|
|||||||||||
Shares | ||||||||||||
Preferred Stocks — 0.3%(a)(f) | ||||||||||||
Capital Markets — 0.3% | ||||||||||||
Morgan Stanley, Series K, 5.90% |
66,567 | 1,564,990 | ||||||||||
|
|
|||||||||||
Financial Services — 0.0% | ||||||||||||
Federal National Mortgage Association, Series S |
10,000 | 23,500 | ||||||||||
|
|
|||||||||||
1,588,490 | ||||||||||||
|
|
|||||||||||
Trust Preferred — 0.1% | ||||||||||||
Financial Services — 0.1% | ||||||||||||
Citigroup Capital XIII, 10/30/40(a) |
29,583 | 841,932 | ||||||||||
|
|
|||||||||||
841,932 | ||||||||||||
|
|
|||||||||||
Total Preferred Securities — 5.7% (Cost: $36,599,722) |
33,573,874 | |||||||||||
|
|
|||||||||||
Par (000) |
||||||||||||
U.S. Government Sponsored Agency Securities |
| |||||||||||
Agency Obligations — 1.9% | ||||||||||||
Fannie Mae, 5.63%, 07/15/37(e) |
USD | 1,600 | 1,834,159 | |||||||||
Fannie Mae Mortgage-Backed Securities, 3.50%, 04/01/53(e) |
5,299 | 4,829,862 | ||||||||||
Resolution Funding Corp. Principal Strip, 0.00%, 04/15/30(i) |
6,055 | 4,488,992 | ||||||||||
|
|
|||||||||||
11,153,013 | ||||||||||||
Collateralized Mortgage Obligations(e) — 4.9% | ||||||||||||
Fannie Mae REMICS |
||||||||||||
Series 2015-47, Class GL, 3.50%, 07/25/45 |
1,636 | 1,434,320 | ||||||||||
Series 2022-25, Class KL, 4.00%, 05/25/52 |
14,500 | 13,047,057 | ||||||||||
Freddie Mac REMICS |
||||||||||||
Series 4350, Class DY, 4.00%, 06/15/44 |
1,730 | 1,620,824 | ||||||||||
Series 4398, Class ZX, 4.00%, 09/15/54 |
10,884 | 9,769,119 | ||||||||||
Series 4549, Class TZ, 4.00%, 11/15/45 |
3,150 | 2,939,965 | ||||||||||
|
|
|||||||||||
28,811,285 | ||||||||||||
Interest Only Collateralized Mortgage Obligations — 0.1% | ||||||||||||
Fannie Mae REMICS, Series 2012-47, Class NI, 4.50%, 04/25/42 |
826 | 148,743 |
36 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Interest Only Collateralized Mortgage Obligations (continued) |
| |||||||||||
Ginnie Mae(a) |
||||||||||||
Series 2009-116, Class KS, (1-mo. LIBOR US + 6.47%), 1.31%, 12/16/39 |
USD | 621 | $ | 41,961 | ||||||||
Series 2011-52, Class NS, (1-mo. LIBOR US + 6.67%), 1.51%, 04/16/41 |
5,139 | 318,620 | ||||||||||
|
|
|||||||||||
509,324 | ||||||||||||
Mortgage-Backed Securities — 16.6% | ||||||||||||
Fannie Mae Mortgage-Backed Securities(e) |
||||||||||||
4.50%, 07/01/55 |
2,861 | 2,814,973 | ||||||||||
4.00%, 02/01/56 - 04/01/56 |
3,063 | 2,936,865 | ||||||||||
Freddie Mac Mortgage-Backed Securities, 4.50%, 03/01/47(e) |
580 | 573,906 | ||||||||||
Ginnie Mae Mortgage-Backed Securities, 5.50%, 08/15/33 |
25 | 24,949 | ||||||||||
Uniform Mortgage-Backed Securities(e) |
||||||||||||
1.50%, 05/01/31 |
6,788 | 6,136,391 | ||||||||||
5.00%, 08/01/34 - 07/13/53(m) |
23,043 | 22,809,634 | ||||||||||
3.50%, 09/01/34 - 07/13/53(m) |
13,214 | 12,076,721 | ||||||||||
4.50%, 06/01/37 - 07/13/53(m) |
17,143 | 16,624,657 | ||||||||||
5.50%, 12/01/37 - 07/13/53(m) |
17,939 | 17,969,819 | ||||||||||
6.00%, 12/01/38 |
214 | 221,981 | ||||||||||
4.00%, 10/01/49 - 07/13/53(m) |
10,483 | 9,918,674 | ||||||||||
3.00%, 02/01/52 |
7,093 | 6,244,462 | ||||||||||
|
|
|||||||||||
98,353,032 | ||||||||||||
|
|
|||||||||||
Total U.S. Government Sponsored Agency Securities — 23.5% (Cost: $143,727,586) |
|
138,826,654 | ||||||||||
|
|
|||||||||||
U.S. Treasury Obligations |
||||||||||||
U.S. Treasury Bonds(e) |
||||||||||||
3.00%, 11/15/44 |
33,795 | 28,597,699 | ||||||||||
2.50%, 02/15/46 |
57,350 | 44,143,818 | ||||||||||
2.75%, 11/15/47 |
2,000 | 1,608,672 | ||||||||||
U.S. Treasury Notes, 3.63%, 05/31/28(e) |
5,000 | 4,890,625 | ||||||||||
|
|
|||||||||||
Total U.S. Treasury Obligations — 13.4% (Cost: $97,869,177) |
79,240,814 | |||||||||||
|
|
|||||||||||
Total Long-Term Investments — 149.5% (Cost: $946,468,028) |
882,479,008 | |||||||||||
|
|
|||||||||||
Short-Term Securities |
||||||||||||
U.S. Treasury Obligations — 5.6% | ||||||||||||
U.S. Treasury Bills, 5.34%, 12/14/23(e)(n) |
34,000 | 33,190,964 | ||||||||||
|
|
|||||||||||
Total Short-Term Securities — 5.6% (Cost: $33,195,573) |
33,190,964 | |||||||||||
|
|
|||||||||||
Total Investments Before TBA Sale Commitments — 155.1% (Cost: $979,663,601) |
|
915,669,972 |
Security | Par (000) |
Value | ||||||||||
TBA Sale Commitments(m) |
| |||||||||||
Mortgage-Backed Securities — (2.5)% | ||||||||||||
Uniform Mortgage-Backed Securities |
||||||||||||
3.50%, 07/13/53 |
USD | (5,000 | ) | $ | (4,556,055 | ) | ||||||
4.00%, 07/13/53 - 08/14/53 |
(6,000 | ) | (5,632,734 | ) | ||||||||
4.50%, 07/13/53 |
(5,000 | ) | (4,807,031 | ) | ||||||||
|
|
|||||||||||
Total TBA Sale Commitments — (2.5)% (Proceeds: $(15,070,294)) |
(14,995,820 | ) | ||||||||||
|
|
|||||||||||
Total Investments, Net of TBA Sale Commitments — 152.6% (Cost: $964,593,307) |
|
900,674,152 | ||||||||||
Liabilities in Excess of Other Assets — (52.6)% |
(310,281,299 | ) | ||||||||||
|
|
|||||||||||
Net Assets — 100.0% |
$ | 590,392,853 | ||||||||||
|
|
(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) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(e) | All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements. |
(f) | Perpetual security with no stated maturity date. |
(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) | Convertible security. |
(i) | Zero-coupon bond. |
(j) | Issuer filed for bankruptcy and/or is in default. |
(k) | Non-income producing security. |
(l) | 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. |
(m) | Represents or includes a TBA transaction. |
(n) | Rates are discount rates or a range of discount rates as of period end. |
S C H E D U L E O F I N V E S T M E N T S |
37 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Affiliated Issuer | Value at 12/31/22 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 06/30/23 |
Shares Held at 06/30/23 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class(a) |
$ | 2,477,689 | $ | — | $ | (2,477,689 | )(b) | $ | — | $ | — | $ | — | — | $ | 200,756 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | As of period end, the entity is no longer held. |
(b) | Represents net amount purchased (sold). |
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements |
(a) | |||||||||
BNP Paribas SA |
4.67 | %(b) | 02/27/23 | Open | $ | 1,810,000 | $ | 1,838,864 | U.S. Government Sponsored Agency Securities |
Open/Demand | ||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 02/27/23 | Open | 18,937,500 | 19,253,220 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.20 | (b) | 02/27/23 | Open | 1,597,500 | 1,623,786 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.20 | (b) | 03/10/23 | Open | 25,030,812 | 25,410,474 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 03/28/23 | Open | 29,486,137 | 29,872,602 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
(1.75 | )(b) | 04/19/23 | Open | 168,175 | 167,586 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.07 | (b) | 04/19/23 | Open | 439,900 | 444,141 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.10 | (b) | 04/19/23 | Open | 358,065 | 361,538 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 124,603 | 125,844 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 896,250 | 905,177 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 488,262 | 493,126 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 821,677 | 829,861 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 611,972 | 618,068 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 972,500 | 982,186 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 177,187 | 178,952 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 181,750 | 183,560 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 04/19/23 | Open | 160,250 | 161,846 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
4.93 | (b) | 04/26/23 | Open | 948,750 | 956,767 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 05/01/23 | Open | 207,139 | 208,848 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/01/23 | Open | 174,150 | 175,595 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.12 | (b) | 05/05/23 | Open | 100,200 | 100,970 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.05 | (b) | 05/10/23 | Open | 284,500 | 286,535 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.12 | (b) | 05/10/23 | Open | 1,311,950 | 1,321,466 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/10/23 | Open | 278,000 | 280,060 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/10/23 | Open | 161,714 | 162,912 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.05 | (b) | 05/18/23 | Open | 561,094 | 564,478 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
4.25 | (b) | 05/30/23 | Open | 146,377 | 146,913 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
4.90 | (b) | 05/30/23 | Open | 109,828 | 110,291 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.00 | (b) | 05/30/23 | Open | 706,640 | 709,682 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.10 | (b) | 05/30/23 | Open | 216,056 | 217,005 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.14 | (b) | 05/30/23 | Open | 1,572,876 | 1,579,838 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 05/30/23 | Open | 1,061,415 | 1,066,168 | Capital Trusts |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 05/30/23 | Open | 407,500 | 409,325 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 05/30/23 | Open | 129,188 | 129,766 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 1,267,875 | 1,273,585 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 285,500 | 286,786 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 84,656 | 85,038 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 171,375 | 172,147 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 148,350 | 149,018 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 269,800 | 271,015 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/01/23 | Open | 117,338 | 117,832 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/02/23 | Open | 133,600 | 134,102 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/02/23 | Open | 287,767 | 288,848 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/05/23 | Open | 174,945 | 175,580 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/05/23 | Open | 483,600 | 485,356 | Corporate Bonds |
Open/Demand |
38 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements |
(a) | |||||||||
BofA Securities, Inc. |
0.00 | % | 06/06/23 | 07/19/23 | $ | 304,500 | $ | 304,500 | Corporate Bonds |
Up to 30 Days | ||||||||||||||||
BofA Securities, Inc. |
2.25 | 06/06/23 | 07/19/23 | 413,640 | 414,260 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
3.25 | 06/06/23 | 07/19/23 | 226,729 | 227,220 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
3.90 | 06/06/23 | 07/19/23 | 89,063 | 89,294 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
4.90 | 06/06/23 | 07/19/23 | 497,267 | 498,892 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
4.90 | 06/06/23 | 07/19/23 | 259,871 | 260,720 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
4.95 | 06/06/23 | 07/19/23 | 241,931 | 242,730 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/06/23 | 07/19/23 | 284,820 | 285,769 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.05 | 06/06/23 | 07/19/23 | 138,875 | 139,343 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.07 | 06/06/23 | 07/19/23 | 133,151 | 133,601 | Foreign Agency Obligations |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.08 | 06/06/23 | 07/19/23 | 131,250 | 131,695 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 694,230 | 696,590 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 204,543 | 205,238 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 75,000 | 75,255 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 161,562 | 162,112 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 855,461 | 858,370 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 131,813 | 132,265 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 218,429 | 219,179 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 413,070 | 414,488 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 190,417 | 191,071 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 202,760 | 203,456 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 141,250 | 141,735 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 319,995 | 321,094 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 78,111 | 78,379 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 370,982 | 372,256 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 98,498 | 98,836 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 121,975 | 122,394 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 358,530 | 359,761 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 297,237 | 298,258 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 378,125 | 379,423 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 86,538 | 86,835 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 232,170 | 232,967 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 468,312 | 469,920 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 297,876 | 298,899 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 148,730 | 149,241 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 605,662 | 607,742 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 100,625 | 100,970 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 1,245,000 | 1,249,274 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 133,133 | 133,594 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 119,925 | 120,341 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 634,147 | 636,346 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 251,066 | 251,937 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 229,046 | 229,840 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 228,386 | 229,178 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Merrill Lynch International |
5.15 | 06/06/23 | 07/19/23 | 152,590 | 153,113 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Merrill Lynch International |
5.20 | 06/06/23 | 07/19/23 | 181,500 | 182,129 | Foreign Agency Obligations |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/07/23 | 07/19/23 | 184,669 | 185,276 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BNP Paribas SA |
5.14 | (b) | 06/07/23 | Open | 2,229,000 | 2,236,320 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 560,000 | 561,860 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 390,625 | 391,923 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 2,430,000 | 2,438,073 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 82,180 | 82,453 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 470,387 | 471,950 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 2,741,250 | 2,750,357 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/07/23 | Open | 139,025 | 139,490 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 4,694,004 | 4,706,396 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 5,444,558 | 5,458,931 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,807,404 | 1,812,176 | U.S. Government Sponsored Agency Securities |
Up to 30 Days |
S C H E D U L E O F I N V E S T M E N T S |
39 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements |
(a) | |||||||||
HSBC Securities (USA), Inc. |
5.28 | % | 06/08/23 | 07/13/23 | $ | 2,848,739 | $ | 2,856,260 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | ||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,124,447 | 1,127,415 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,317,159 | 1,320,637 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,714,406 | 1,718,932 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,364,719 | 1,368,322 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 216,197 | 216,768 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 263,812 | 264,508 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 517,043 | 518,408 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 2,060,474 | 2,065,913 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 2,165,015 | 2,170,731 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 293,871 | 294,647 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 352,456 | 353,386 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 678,236 | 680,026 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 2,743,074 | 2,750,316 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 2,028,363 | 2,033,717 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 310,326 | 311,145 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 831,762 | 833,958 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,980,611 | 1,985,839 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,803,961 | 1,808,724 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 192,343 | 192,851 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,807,687 | 1,812,459 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,820,130 | 1,824,935 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 2,107,652 | 2,113,217 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,864,749 | 1,869,672 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,673,171 | 1,677,588 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 558,955 | 560,431 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 6,000,932 | 6,016,775 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,576,690 | 1,580,852 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
HSBC Securities (USA), Inc. |
5.28 | 06/08/23 | 07/13/23 | 1,964,094 | 1,969,280 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/08/23 | 07/19/23 | 561,094 | 562,808 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/08/23 | 07/19/23 | 157,750 | 158,232 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/08/23 | 07/19/23 | 1,546,875 | 1,551,791 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/08/23 | 07/19/23 | 1,137,585 | 1,141,200 | Corporate Bonds |
Up to 30 Days |
40 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements |
(a) | |||||||||
J.P. Morgan Securities LLC |
4.25 | % | 06/08/23 | 07/21/23 | $ | 138,053 | $ | 138,411 | Corporate Bonds |
Up to 30 Days | ||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 90,055 | 90,338 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 248,000 | 248,781 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 253,207 | 254,004 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 111,510 | 111,861 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 192,750 | 193,357 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 88,298 | 88,575 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 125,750 | 126,146 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 596,250 | 598,127 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 84,844 | 85,111 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 712,500 | 714,764 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 1,072,750 | 1,076,159 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 163,505 | 164,025 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 219,725 | 220,423 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 355,781 | 356,912 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/08/23 | Open | 1,093,730 | 1,097,226 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Cantor Fitzgerald & Co. |
5.21 | 06/13/23 | 07/13/23 | 6,091,386 | 6,107,254 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
Royal Bank of Canada |
5.23 | 06/15/23 | 07/17/23 | 1,605,062 | 1,608,560 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
Royal Bank of Canada |
5.23 | 06/15/23 | 07/17/23 | 2,884,113 | 2,890,398 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
Royal Bank of Canada |
5.23 | 06/15/23 | 07/17/23 | 13,088,242 | 13,101,552 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
Royal Bank of Canada |
5.23 | 06/15/23 | 07/17/23 | 1,437,811 | 1,440,945 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
Royal Bank of Canada |
5.23 | 06/15/23 | 07/17/23 | 9,610,476 | 9,620,249 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||||
BNP Paribas SA |
5.19 | (b) | 06/15/23 | Open | 161,425 | 161,774 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.19 | (b) | 06/15/23 | Open | 148,215 | 148,536 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
3.00 | 06/16/23 | 07/19/23 | 280,350 | 280,607 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/16/23 | 07/19/23 | 53,918 | 54,000 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/16/23 | 07/19/23 | 203,770 | 204,081 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/16/23 | 07/19/23 | 427,229 | 427,901 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/16/23 | 07/19/23 | 430,000 | 430,677 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/16/23 | 07/19/23 | 578,250 | 579,160 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/16/23 | 07/19/23 | 534,625 | 535,474 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/16/23 | 07/19/23 | 449,375 | 450,089 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Nomura Securities International, Inc. |
5.10 | (b) | 06/16/23 | Open | 4,937,500 | 4,947,930 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
(3.75 | ) | 06/21/23 | 07/18/23 | 62,700 | 62,733 | Corporate Bonds |
Up to 30 Days | ||||||||||||||||||
Barclays Capital, Inc. |
4.50 | 06/21/23 | 07/18/23 | 310,000 | 310,349 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
4.50 | 06/21/23 | 07/18/23 | 38,160 | 38,203 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 166,750 | 166,967 | Capital Trusts |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 165,500 | 165,715 | Capital Trusts |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 773,750 | 774,756 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 1,020,312 | 1,021,639 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 1,233,750 | 1,235,354 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 194,462 | 194,715 | Capital Trusts |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 935,000 | 936,215 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 1,106,875 | 1,108,314 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 921,050 | 922,247 | Capital Trusts |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 1,273,125 | 1,274,780 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 3,625,000 | 3,629,712 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 105,053 | 105,189 | Capital Trusts |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/21/23 | 07/19/23 | 232,242 | 232,544 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
1.00 | (b) | 06/21/23 | Open | 155,689 | 155,728 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.14 | (b) | 06/21/23 | Open | 82,158 | 82,263 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.14 | (b) | 06/21/23 | Open | 141,514 | 141,696 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.17 | (b) | 06/21/23 | Open | 806,250 | 807,292 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 83,543 | 83,652 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 343,159 | 343,607 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 111,388 | 111,533 | Corporate Bonds |
Open/Demand |
S C H E D U L E O F I N V E S T M E N T S |
41 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements |
(a) | |||||||||
Nomura Securities International, Inc. |
5.23 | %(b) | 06/21/23 | Open | $ | 127,613 | $ | 127,779 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 618,395 | 619,204 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 197,625 | 197,883 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.23 | (b) | 06/21/23 | Open | 5,312,500 | 5,319,446 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.12 | (b) | 06/22/23 | Open | 1,122,000 | 1,123,277 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.16 | (b) | 06/22/23 | Open | 364,999 | 365,417 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.16 | (b) | 06/22/23 | Open | 258,100 | 258,396 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.12 | (b) | 06/23/23 | Open | 33,170,400 | 33,205,761 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/23/23 | Open | 4,249,250 | 4,254,198 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/23/23 | Open | 3,920,000 | 3,924,565 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/26/23 | Open | 152,000 | 152,132 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
4.45 | 06/27/23 | 07/19/23 | 272,500 | 272,601 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.07 | 06/27/23 | 07/19/23 | 517,435 | 517,654 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/27/23 | 07/19/23 | 163,735 | 163,806 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
4.25 | 06/27/23 | 07/21/23 | 107,250 | 107,288 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
4.25 | 06/27/23 | 07/21/23 | 171,925 | 171,986 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
4.75 | 06/27/23 | 07/21/23 | 156,750 | 156,812 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.00 | 06/27/23 | 07/21/23 | 139,000 | 139,058 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.05 | 06/27/23 | 07/21/23 | 138,500 | 138,558 | Foreign Agency Obligations |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.05 | 06/27/23 | 07/21/23 | 354,375 | 354,524 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.10 | 06/27/23 | 07/21/23 | 64,000 | 64,027 | Foreign Agency Obligations |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/27/23 | 07/21/23 | 162,500 | 162,570 | Foreign Agency Obligations |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/27/23 | 07/21/23 | 192,644 | 192,726 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 192,465 | 192,549 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/27/23 | Open | 182,250 | 182,329 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
3.00 | 06/28/23 | 07/19/23 | 172,727 | 172,756 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
3.50 | 06/28/23 | 07/19/23 | 158,847 | 158,878 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/28/23 | 07/19/23 | 379,186 | 379,296 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/28/23 | 07/19/23 | 826,250 | 826,489 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/28/23 | 07/19/23 | 1,308,625 | 1,309,003 | Capital Trusts |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/28/23 | 07/19/23 | 807,500 | 807,733 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/28/23 | 07/19/23 | 697,744 | 697,947 | Corporate Bonds |
Up to 30 Days | |||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/29/23 | Open | 2,508,750 | 2,509,115 | Corporate Bonds |
Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/30/23 | Open | 6,000,437 | 6,001,311 | Foreign Agency Obligations |
Open/Demand | ||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||
$ | 303,494,156 | $ | 305,139,899 | |||||||||||||||||||||||
|
|
|
|
(a) | Certain agreements have no stated maturity and can be terminated by either party at any time. |
(b) | Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
Long Contracts |
||||||||||||||||
10-Year U.S. Ultra Long Treasury Note |
418 | 09/20/23 | $ | 49,546 | $ | (532,745 | ) | |||||||||
Ultra U.S. Treasury Bond |
507 | 09/20/23 | 69,063 | 710,915 | ||||||||||||
5-Year U.S. Treasury Note |
106 | 09/29/23 | 11,357 | (83,436 | ) | |||||||||||
|
|
|||||||||||||||
94,734 | ||||||||||||||||
|
|
|||||||||||||||
Short Contracts |
||||||||||||||||
10-Year Japanese Government Treasury Bonds |
19 | 09/12/23 | 19,560 | (86,634 | ) | |||||||||||
10-Year U.S. Treasury Note |
801 | 09/20/23 | 89,962 | 1,538,409 | ||||||||||||
2-Year U.S. Treasury Note |
16 | 09/29/23 | 3,254 | 45,905 | ||||||||||||
|
|
|||||||||||||||
1,497,680 | ||||||||||||||||
|
|
|||||||||||||||
$ | 1,592,414 | |||||||||||||||
|
|
42 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) |
||||||||||||||
USD |
119,131 | CAD | 157,000 | Natwest Markets PLC | 09/20/23 | $ | 476 | |||||||||||
USD |
5,553,830 | EUR | 5,061,000 | BNP Paribas SA | 09/20/23 | 10,149 | ||||||||||||
USD |
193,626 | GBP | 151,000 | BNP Paribas SA | 09/20/23 | 1,815 | ||||||||||||
USD |
220,028 | JPY | 30,687,000 | The Bank of New York Mellon | 09/20/23 | 4,810 | ||||||||||||
|
|
|||||||||||||||||
17,250 | ||||||||||||||||||
|
|
|||||||||||||||||
USD |
370,403 | EUR | 342,243 | State Street Bank and Trust Co. | 09/14/23 | (4,366 | ) | |||||||||||
JPY |
30,687,807 | USD | 217,685 | Toronto-Dominion Bank | 09/20/23 | (2,461 | ) | |||||||||||
USD |
107,572 | EUR | 100,000 | Morgan Stanley & Co. International PLC | 09/20/23 | (1,965 | ) | |||||||||||
USD |
113,579 | EUR | 105,000 | Royal Bank of Canada | 09/20/23 | (1,436 | ) | |||||||||||
USD |
3,265 | EUR | 3,000 | State Street Bank and Trust Co. | 09/20/23 | (21 | ) | |||||||||||
USD |
36,842 | EUR | 34,000 | State Street Bank and Trust Co. | 09/20/23 | (401 | ) | |||||||||||
USD |
124,430 | GBP | 99,000 | Bank of America N.A. | 09/20/23 | (1,327 | ) | |||||||||||
USD |
122,789 | GBP | 97,000 | State Street Bank and Trust Co. | 09/20/23 | (427 | ) | |||||||||||
|
|
|||||||||||||||||
(12,404 | ) | |||||||||||||||||
|
|
|||||||||||||||||
$ | 4,846 | |||||||||||||||||
|
|
Reference Obligation/Index | Financing Rate Paid by the Trust |
Payment Frequency |
Termination Date |
Notional Amount (000) |
Value | Upfront Premium Paid (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||||||
CDX.NA.HY.40.V1 |
5.00 | % | Quarterly | 06/20/28 | USD | 4,550 | $ | (135,298 | ) | $ | 4,432 | $ | (139,730 | ) | ||||||||||||||
CDX.NA.IG.40.V1 |
1.00 | Quarterly | 06/20/28 | USD | 26,090 | (399,747 | ) | (173,054 | ) | (226,693 | ) | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||
$ | (535,045 | ) | $ | (168,622 | ) | $ | (366,423 | ) | ||||||||||||||||||||
|
|
|
|
|
|
Paid by the Trust |
Received by the Trust | Effective Date |
Termination Date |
Notional Amount (000) |
Value | Upfront Premium Paid (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||||||||||
Rate | Frequency | Rate | Frequency | |||||||||||||||||||||||||||||
1-Day SOFR, 1.09% | Annual | 3.53% | Annual | N/A | 11/10/52 | USD | 3,200 | $ | 173,852 | $ | 98 | $ | 173,754 | |||||||||||||||||||
1-Day SOFR, 1.09% | Annual | 3.06% | Annual | N/A | 11/28/52 | USD | 2,000 | (69,168 | ) | 62 | (69,230 | ) | ||||||||||||||||||||
1-Day SOFR, 1.09% | Annual | 3.05% | Annual | N/A | 12/01/52 | USD | 1,500 | (53,451 | ) | 46 | (53,497 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 51,233 | $ | 206 | $ | 51,027 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||
Reference Obligation/Index | |
Financing Rate Received by the Trust |
|
|
Payment Frequency |
|
Counterparty | |
Termination Date |
|
Credit Rating(a) | |
Notional Amount (000)(b) |
|
Value | |
Upfront Premium Paid (Received) |
|
|
Unrealized Appreciation (Depreciation) |
|
|||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||
Casino, Guichard-Perrachon S.A. |
5.00 | % | Quarterly | BNP Paribas SA |
12/20/23 | CC | EUR | 4 | $ | (564 | ) | $ | (4,296 | ) | $ | 3,732 | ||||||||||||||||||||||||
Thyssenkrupp AG |
1.00 | Quarterly | Bank of America N.A. |
12/20/23 | BB | EUR | 10 | (4,082 | ) | (3,017 | ) | (1,065) | ||||||||||||||||||||||||||||
Virgin Media Finance PLC |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/25 | B | EUR | 10 | (21 | ) | 162 | (183) | |||||||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Bank of America N.A. |
06/20/26 | BB- | EUR | 10 | (1,359,816 | ) | (878,550 | ) | (481,266) | ||||||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Credit Suisse International |
12/20/26 | BB- | EUR | 5 | 1,934 | 740 | 1,194 | ||||||||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Credit Suisse International |
12/20/26 | BB- | EUR | 25 | 1,198 | 635 | 563 | ||||||||||||||||||||||||||||||
K&S AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/26 | BBB- | EUR | 10 | 406 | 317 | 89 | ||||||||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Credit Suisse International |
06/20/27 | NR | EUR | 20 | (108 | ) | 766 | (874) | |||||||||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB | EUR | 10 | 557 | 720 | (163) | ||||||||||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB | EUR | 30 | (1,383 | ) | (1,178 | ) | (205) | ||||||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Bank of America N.A. |
12/20/27 | CCC+ | EUR | 5 | (811 | ) | (677 | ) | (134) | ||||||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Barclays Bank PLC |
12/20/27 | CCC+ | EUR | 3 | (1,348 | ) | (1,143 | ) | (205) | ||||||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Barclays Bank PLC |
12/20/27 | CCC+ | EUR | 9 | (1,003 | ) | (842 | ) | (161) | ||||||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Citibank N.A. |
12/20/27 | CCC+ | EUR | 3 | (635 | ) | (969 | ) | 334 |
S C H E D U L E O F I N V E S T M E N T S |
43 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
|
||||||||||||||||||||||||||||||||||||||||
Reference Obligation/Index | |
Financing Rate Received by the Trust |
|
|
Payment Frequency |
|
Counterparty | |
Termination Date |
|
Credit Rating(a) | |
Notional Amount (000)(b) |
|
Value | |
Upfront Premium Paid (Received) |
|
|
Unrealized Appreciation (Depreciation) |
|
|||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | % | Quarterly | JPMorgan Chase Bank N.A. |
12/20/27 | CCC+ | EUR | 6 | $ | (661 | ) | $ | (566 | ) | $ | (95) | ||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Morgan Stanley & Co. International PLC |
12/20/27 | CCC+ | EUR | 4 | (2,278 | ) | (1,900 | ) | (378) | ||||||||||||||||||||||||||||
United Group B.V. |
5.00 | Quarterly | Bank of America N.A. |
12/20/27 | B | EUR | 14 | (4,028 | ) | (199 | ) | (3,829) | ||||||||||||||||||||||||||||
United Group B.V. |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/27 | B | EUR | 6 | (189 | ) | (898 | ) | 709 | ||||||||||||||||||||||||||||
Casino, Guichard-Perrachon S.A. |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/28 | CC | EUR | 4 | 21 | (98 | ) | 119 | |||||||||||||||||||||||||||||
K&S AG |
5.00 | Quarterly | Morgan Stanley & Co. International PLC |
06/20/28 | BBB- | EUR | 3 | 123 | (261 | ) | 384 | |||||||||||||||||||||||||||||
CMBX.NA.15 |
3.00 | Monthly | Morgan Stanley & Co. International PLC |
11/15/64 | N/R | USD | 4,710 | (1,338 | ) | (1,906 | ) | 568 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
$ | (1,374,026 | ) | $ | (893,160 | ) | $ | (480,866) | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
(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 Trust may pay should a negative credit event take place as defined under the terms of the agreement. |
Description | Swap Premiums Paid |
Swap Premiums Received |
Unrealized Appreciation |
Unrealized Depreciation |
||||||||||||
Centrally Cleared Swaps(a) |
$ | 4,638 | $ | (173,054 | ) | $ | 173,754 | $ | (489,150 | ) | ||||||
OTC Swaps |
3,340 | (896,500 | ) | 7,692 | (488,558 | ) |
(a) | Includes cumulative appreciation (depreciation) on centrally cleared swaps, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities and is net of any previously paid (received) swap premium amounts. |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Assets — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on futures contracts(a) |
$ | — | $ | — | $ | — | $ | — | $ | 2,295,229 | $ | — | $ | 2,295,229 | ||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on forward foreign currency exchange contracts |
— | — | — | 17,250 | — | — | 17,250 | |||||||||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized appreciation on centrally cleared swaps(a) |
— | — | — | — | 173,754 | — | 173,754 | |||||||||||||||||||||
Swaps — OTC |
||||||||||||||||||||||||||||
Unrealized appreciation on OTC swaps; Swap premiums paid |
— | 11,032 | — | — | — | — | 11,032 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 11,032 | $ | — | $ | 17,250 | $ | 2,468,983 | $ | — | $ | 2,497,265 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on futures contracts(a) |
$ | — | $ | — | $ | — | $ | — | $ | 702,815 | $ | — | $ | 702,815 | ||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on forward foreign currency exchange contracts |
— | — | — | 12,404 | — | — | 12,404 |
44 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized depreciation on centrally cleared swaps(a) |
$ | — | $ | 366,423 | $ | — | $ | — | $ | 122,727 | $ | — | $ | 489,150 | ||||||||||||||
Swaps — OTC |
||||||||||||||||||||||||||||
Unrealized depreciation on OTC swaps; Swap premiums received |
— | 1,385,058 | — | — | — | — | 1,385,058 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 1,751,481 | $ | — | $ | 12,404 | $ | 825,542 | $ | — | $ | 2,589,427 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | — | $ | — | $ | (2,455,995 | ) | $ | — | $ | (2,455,995 | ) | ||||||||||||
Forward foreign currency exchange contracts |
— | — | — | (12,942 | ) | — | — | (12,942 | ) | |||||||||||||||||||
Swaps |
— | (1,023,785 | ) | — | — | 5,753,983 | — | 4,730,198 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | (1,023,785 | ) | $ | — | $ | (12,942 | ) | $ | 3,297,988 | $ | — | $ | 2,261,261 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | — | $ | — | $ | 1,483,328 | $ | — | $ | 1,483,328 | ||||||||||||||
Forward foreign currency exchange contracts |
— | — | — | 16,441 | — | — | 16,441 | |||||||||||||||||||||
Swaps |
— | 50,697 | — | — | (5,425,960 | ) | — | (5,375,263 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 50,697 | $ | — | $ | 16,441 | $(3,942,632) | $ | — | $ | (3,875,494 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 146,021,894 | ||
Average notional value of contracts — short |
$ | 140,497,505 | ||
Forward foreign currency exchange contracts: |
||||
Average amounts purchased — in USD |
$ | 6,904,644 | ||
Average amounts sold — in USD |
$ | 322,964 | ||
Credit default swaps: |
||||
Average notional value — buy protection |
$ | 30,395,000 | ||
Average notional value — sell protection |
$ | 4,932,891 | ||
Interest rate swaps: |
||||
Average notional value — pays fixed rate |
$ | — | (a) | |
Average notional value — receives fixed rate |
$ | 6,700,000 |
(a) | Derivative not held at any quarter-end. The risk exposure table serves as an indicator of activity during the period. |
S C H E D U L E O F I N V E S T M E N T S |
45 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Assets | Liabilities | |||||||
Derivative Financial Instruments |
||||||||
Futures contracts |
$ | 816,484 | $ | 160,404 | ||||
Forward foreign currency exchange contracts |
17,250 | 12,404 | ||||||
Swaps — centrally cleared |
— | 11,407 | ||||||
Swaps — OTC(a) |
11,032 | 1,385,058 | ||||||
|
|
|
|
|||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities |
844,766 | 1,569,273 | ||||||
|
|
|
|
|||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) |
(816,484 | ) | (171,811 | ) | ||||
|
|
|
|
|||||
Total derivative assets and liabilities subject to an MNA |
$ | 28,282 | $ | 1,397,462 | ||||
|
|
|
|
(a) | Includes unrealized appreciation (depreciation) on OTC swaps and swap premiums (paid/received) in the Statements of Assets and Liabilities. |
Counterparty |
|
Derivative Assets Subject to an MNA by Counterparty |
|
|
Derivatives Available for Offset |
(a) |
|
Non-Cash Collateral Received |
|
|
Cash Collateral Received |
|
|
Net Amount of Derivative Assets |
(b)(c) | |||||
BNP Paribas SA |
$ | 15,696 | $ | (4,296 | ) | $ | — | $ | — | $ | 11,400 | |||||||||
Citibank N.A. |
334 | (334 | ) | — | — | — | ||||||||||||||
Credit Suisse International |
3,898 | (874 | ) | — | — | 3,024 | ||||||||||||||
JPMorgan Chase Bank N.A. |
2,116 | (2,116 | ) | — | — | — | ||||||||||||||
Morgan Stanley & Co. International PLC |
952 | (952 | ) | — | — | — | ||||||||||||||
Natwest Markets PLC |
476 | — | — | — | 476 | |||||||||||||||
The Bank of New York Mellon |
4,810 | — | — | — | 4,810 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 28,282 | $ | (8,572 | ) | $ | — | $ | — | $ | 19,710 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Counterparty |
|
Derivative Liabilities Subject to an MNA by Counterparty |
|
|
Derivatives Available for Offset |
(a) |
|
Non-Cash Collateral Pledged |
|
|
Cash Collateral Pledged |
(d) |
|
Net Amount of Derivative Liabilities |
(b)(e) | |||||
Bank of America N.A. |
$ | 1,370,064 | $ | — | $ | — | $ | — | $ | 1,370,064 | ||||||||||
Barclays Bank PLC |
2,351 | — | — | (2,351 | ) | — | ||||||||||||||
BNP Paribas SA |
4,296 | (4,296 | ) | — | — | — | ||||||||||||||
Citibank N.A. |
969 | (334 | ) | — | — | 635 | ||||||||||||||
Credit Suisse International |
874 | (874 | ) | — | — | — | ||||||||||||||
JPMorgan Chase Bank N.A. |
3,386 | (2,116 | ) | — | — | 1,270 | ||||||||||||||
Morgan Stanley & Co. International PLC |
6,410 | (952 | ) | — | (5,458 | ) | — | |||||||||||||
Royal Bank of Canada |
1,436 | — | — | — | 1,436 | |||||||||||||||
State Street Bank and Trust Co. |
5,215 | — | — | — | 5,215 | |||||||||||||||
Toronto-Dominion Bank |
2,461 | — | — | — | 2,461 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 1,397,462 | $ | (8,572 | ) | $ | — | $ | (7,809 | ) | $ | 1,381,081 | |||||||||
|
|
|
|
|
|
|
|
|
|
(a) | The amount of derivatives available for offset is limited to the amount of derivative asset and/or liabilities that are subject to an MNA. |
(b) | Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized. |
(c) | Net amount represents the net amount receivable from the counterparty in the event of default. |
(d) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(e) | Net amount represents the net amount payable due to counterparty in the event of default. |
46 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Asset-Backed Securities |
$ | — | $ | 93,953,868 | $ | 682,824 | $ | 94,636,692 | ||||||||
Corporate Bonds |
||||||||||||||||
Aerospace & Defense |
— | 15,837,016 | — | 15,837,016 | ||||||||||||
Automobile Components |
— | 4,195,030 | — | 4,195,030 | ||||||||||||
Automobiles |
— | 6,007,117 | — | 6,007,117 | ||||||||||||
Banks |
— | 7,480,370 | — | 7,480,370 | ||||||||||||
Beverages |
— | 10,251,664 | — | 10,251,664 | ||||||||||||
Biotechnology |
— | 3,642,985 | — | 3,642,985 | ||||||||||||
Broadline Retail |
— | 1,386,394 | — | 1,386,394 | ||||||||||||
Building Materials |
— | 3,309,275 | — | 3,309,275 | ||||||||||||
Building Products |
— | 7,132,459 | — | 7,132,459 | ||||||||||||
Capital Markets |
— | 8,497,193 | — | 8,497,193 | ||||||||||||
Chemicals |
— | 5,629,051 | — | 5,629,051 | ||||||||||||
Commercial Services & Supplies |
— | 4,879,606 | — | 4,879,606 | ||||||||||||
Communications Equipment |
— | 1,282,164 | — | 1,282,164 | ||||||||||||
Construction & Engineering |
— | 3,834,363 | — | 3,834,363 | ||||||||||||
Construction Materials |
— | 286,588 | — | 286,588 | ||||||||||||
Consumer Discretionary |
— | 6,645,805 | — | 6,645,805 | ||||||||||||
Consumer Finance |
— | 5,570,819 | — | 5,570,819 | ||||||||||||
Consumer Staples Distribution & Retail |
— | 3,081,175 | — | 3,081,175 | ||||||||||||
Containers & Packaging |
— | 2,420,894 | — | 2,420,894 | ||||||||||||
Diversified Consumer Services |
— | 4,543,053 | — | 4,543,053 | ||||||||||||
Diversified REITs |
— | 10,892,113 | — | 10,892,113 | ||||||||||||
Diversified Telecommunication Services |
— | 13,054,890 | — | 13,054,890 | ||||||||||||
Education |
— | 635,661 | — | 635,661 | ||||||||||||
Electric Utilities |
— | 27,818,258 | — | 27,818,258 | ||||||||||||
Electrical Equipment |
— | 1,167,035 | — | 1,167,035 | ||||||||||||
Electronic Equipment, Instruments & Components |
— | 2,331,324 | — | 2,331,324 | ||||||||||||
Energy Equipment & Services |
— | 2,648,349 | — | 2,648,349 | ||||||||||||
Environmental, Maintenance & Security Service |
— | 1,963,284 | — | 1,963,284 | ||||||||||||
Financial Services |
— | 28,138,256 | — | 28,138,256 | ||||||||||||
Food Products |
— | 2,338,578 | — | 2,338,578 | ||||||||||||
Gas Utilities |
— | 179,895 | — | 179,895 | ||||||||||||
Ground Transportation |
— | 6,747,611 | — | 6,747,611 | ||||||||||||
Health Care Equipment & Supplies |
— | 2,927,349 | — | 2,927,349 | ||||||||||||
Health Care Providers & Services |
— | 11,237,998 | — | 11,237,998 | ||||||||||||
Health Care Technology |
— | 1,437,745 | — | 1,437,745 | ||||||||||||
Hotels, Restaurants & Leisure |
— | 9,556,626 | 1,864,288 | 11,420,914 | ||||||||||||
Household Durables |
— | 784,826 | — | 784,826 | ||||||||||||
Household Products |
— | 120,838 | — | 120,838 | ||||||||||||
Independent Power and Renewable Electricity Producers |
— | 1,647,898 | — | 1,647,898 | ||||||||||||
Industrial Conglomerates |
— | 2,369,075 | — | 2,369,075 | ||||||||||||
Insurance |
— | 13,961,009 | — | 13,961,009 | ||||||||||||
Interactive Media & Services |
— | 537,846 | — | 537,846 | ||||||||||||
Internet Software & Services |
— | 2,832,751 | — | 2,832,751 | ||||||||||||
IT Services |
— | 5,529,425 | — | 5,529,425 | ||||||||||||
Leisure Products |
— | 296,972 | — | 296,972 | ||||||||||||
Machinery |
— | 3,412,014 | — | 3,412,014 | ||||||||||||
Marine Transportation |
— | 116,747 | — | 116,747 | ||||||||||||
Media |
— | 28,151,985 | — | 28,151,985 | ||||||||||||
Metals & Mining |
— | 6,822,534 | — | 6,822,534 | ||||||||||||
Multi-Utilities |
— | 2,776,570 | — | 2,776,570 | ||||||||||||
Offshore Drilling & Other Services |
— | 1,286,536 | — | 1,286,536 | ||||||||||||
Oil, Gas & Consumable Fuels |
87,028 | 43,356,230 | 1,390,995 | 44,834,253 |
S C H E D U L E O F I N V E S T M E N T S |
47 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Corporate Bonds (continued) |
||||||||||||||||
Passenger Airlines |
$ | — | $ | 7,462,837 | $ | — | $ | 7,462,837 | ||||||||
Pharmaceuticals |
— | 9,471,007 | — | 9,471,007 | ||||||||||||
Real Estate |
— | 62,478 | — | 62,478 | ||||||||||||
Real Estate Management & Development |
— | 1,529,802 | 640,063 | 2,169,865 | ||||||||||||
Semiconductors & Semiconductor Equipment |
— | 5,861,196 | — | 5,861,196 | ||||||||||||
Software |
— | 11,634,663 | — | 11,634,663 | ||||||||||||
Specialized REITs |
— | 698,870 | — | 698,870 | ||||||||||||
Specialty Retail |
— | 683,121 | — | 683,121 | ||||||||||||
Technology Hardware, Storage & Peripherals |
— | 4,173,685 | — | 4,173,685 | ||||||||||||
Textiles, Apparel & Luxury Goods |
— | 274,379 | — | 274,379 | ||||||||||||
Tobacco |
— | 4,980,096 | — | 4,980,096 | ||||||||||||
Transportation Infrastructure |
— | 2,197,379 | — | 2,197,379 | ||||||||||||
Wireless Telecommunication Services |
— | 6,652,591 | — | 6,652,591 | ||||||||||||
Floating Rate Loan Interests |
— | 19,684,044 | 615,865 | 20,299,909 | ||||||||||||
Foreign Agency Obligations |
— | 11,665,144 | — | 11,665,144 | ||||||||||||
Municipal Bonds |
— | 20,598,329 | — | 20,598,329 | ||||||||||||
Non-Agency Mortgage-Backed Securities |
— | 80,981,865 | — | 80,981,865 | ||||||||||||
Preferred Securities |
||||||||||||||||
Capital Trusts |
— | 31,143,452 | — | 31,143,452 | ||||||||||||
Preferred Stocks |
||||||||||||||||
Capital Markets |
1,564,990 | — | — | 1,564,990 | ||||||||||||
Financial Services |
— | 23,500 | — | 23,500 | ||||||||||||
Trust Preferred |
841,932 | — | — | 841,932 | ||||||||||||
U.S. Government Sponsored Agency Securities |
— | 138,826,654 | — | 138,826,654 | ||||||||||||
U.S. Treasury Obligations |
— | 79,240,814 | — | 79,240,814 | ||||||||||||
Short-Term Securities |
||||||||||||||||
U.S. Treasury Obligations |
— | 33,190,964 | — | 33,190,964 | ||||||||||||
Unfunded Floating Rate Loan Interests(a) |
— | 719 | — | 719 | ||||||||||||
Liabilities |
||||||||||||||||
Investments |
||||||||||||||||
TBA Sale Commitments |
— | (14,995,820 | ) | — | (14,995,820 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 2,493,950 | $ | 892,986,886 | $ | 5,194,035 | $ | 900,674,871 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative Financial Instruments(b) |
||||||||||||||||
Assets |
||||||||||||||||
Credit Contracts |
$ | — | $ | 7,692 | $ | — | $ | 7,692 | ||||||||
Foreign Currency Exchange Contracts |
— | 17,250 | — | 17,250 | ||||||||||||
Interest Rate Contracts |
2,295,229 | 173,754 | — | 2,468,983 | ||||||||||||
Liabilities |
||||||||||||||||
Credit Contracts |
— | (854,981 | ) | — | (854,981 | ) | ||||||||||
Foreign Currency Exchange Contracts |
— | (12,404 | ) | — | (12,404 | ) | ||||||||||
Interest Rate Contracts |
(702,815 | ) | (122,727 | ) | — | (825,542 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 1,592,414 | $ | (791,416 | ) | $ | — | $ | 800,998 | ||||||||
|
|
|
|
|
|
|
|
(a) | Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment. |
(b) | Derivative financial instruments are swaps, futures contracts and forward foreign currency exchange contracts. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Asset‑Backed Securities |
Corporate Bonds |
Floating Rate Loan Interests |
Non-Agency Mortgage-Backed Securities |
Total | ||||||||||||||||
Assets |
||||||||||||||||||||
Opening balance, as of December 31, 2022 |
$ | 1,619,981 | $ | 4,333,458 | $ | 135,835 | $ | 477,212 | $ | 6,566,486 | ||||||||||
Transfers into Level 3 |
— | — | 360,622 | — | 360,622 | |||||||||||||||
Transfers out of Level 3 |
(726,572 | ) | — | (58,455 | ) | (477,212 | ) | (1,262,239 | ) |
48 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Core Bond Trust (BHK) |
Asset‑Backed Securities |
Corporate Bonds |
Floating Rate Loan Interests |
Non-Agency Mortgage-Backed Securities |
Total | ||||||||||||||||
Accrued discounts/premiums |
$ | (20,953 | ) | $ | — | $ | 581 | $ | — | $ | (20,372 | ) | ||||||||
Net realized gain (loss) |
1,395 | — | 26 | — | 1,421 | |||||||||||||||
Net change in unrealized appreciation (depreciation)(a)(b) |
33,329 | (377,959 | ) | 5,452 | — | (339,178 | ) | |||||||||||||
Purchases |
— | — | 173,252 | — | 173,252 | |||||||||||||||
Sales |
(224,356 | ) | (60,153 | ) | (1,448 | ) | — | (285,957 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Closing balance, as of June 30, 2023 |
$ | 682,824 | $ | 3,895,346 | $ | 615,865 | $ | — | $ | 5,194,035 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2023(b) |
$ | 33,329 | $ | (377,959 | ) | $ | 5,452 | $ | — | $ | (339,178 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations. |
(b) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2023 is generally due to investments no longer held or categorized as Level 3 at period end. |
S C H E D U L E O F I N V E S T M E N T S |
49 |
Consolidated Schedule of Investments (unaudited) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Asset-Backed Securities |
||||||||||||
Ares XXXIIR CLO Ltd., Series 2014-32RA, Class B, (3-mo. LIBOR US + 1.80%), 7.12%, 05/15/30(a)(b) |
USD | 500 | $ | 483,147 | ||||||||
BlueMountain Fuji Eur CLO IV DAC, Series 4X, Class ER, (3-mo. EURIBOR + 6.21%), 9.63%, 02/25/34(a)(c) |
EUR | 100 | 98,199 | |||||||||
Contego CLO VIII DAC, Series 8X, Class ER, (3-mo. EURIBOR + 6.06%), 9.32%, 01/25/34(a)(c) |
100 | 97,092 | ||||||||||
CVC Cordatus Loan Fund XXII DAC, Series 22X, Class D, (3-mo. EURIBOR + 3.15%), 6.68%, 12/15/34(a)(c) |
100 | 97,302 | ||||||||||
Galaxy XXVIII CLO Ltd., Series 2018-28A, Class C, (3-mo. LIBOR US + 1.95%), 7.21%, 07/15/31(a)(b) |
USD | 250 | 238,252 | |||||||||
Greene King Finance PLC(a) |
||||||||||||
Series B1, (3-mo. LIBOR GBP + 1.92%), 6.80%, 12/15/34 |
GBP | 100 | 93,679 | |||||||||
Series B2, (1-day SONIA + 2.20%), 6.63%, 03/15/36(c) |
100 | 93,949 | ||||||||||
Margay CLO I DAC, (3-mo. EURIBOR + 6.40%), 9.95%, 07/15/36 |
EUR | 100 | 108,303 | |||||||||
Neuberger Berman Loan Advisers Euro CLO 2 DAC, Series 2021-2X, Class E, (3-mo. EURIBOR + 6.06%), 9.24%, 04/15/34(a)(c) |
100 | 98,372 | ||||||||||
Palmer Square European CLO DAC, (3-mo. EURIBOR + 6.20%), 10.05%, 07/15/36 |
100 | 107,788 | ||||||||||
Rockfield Park CLO DAC, Series 1X, Class D, (3-mo. EURIBOR + 5.95%), 9.13%, 07/16/34(a)(c) |
100 | 97,337 | ||||||||||
Unique Pub Finance Co. PLC, Series N, 6.46%, 03/30/32(c) |
GBP | 89 | 108,299 | |||||||||
|
|
|||||||||||
Total Asset-Backed Securities — 0.1% (Cost: $1,888,621) |
1,721,719 | |||||||||||
|
|
|||||||||||
Shares | ||||||||||||
Common Stocks |
||||||||||||
Capital Markets — 0.0% | ||||||||||||
ARDAGH MP USA INC, (Acquired 08/02/21, Cost: $1,599,352)(d) |
162,646 | 611,549 | ||||||||||
|
|
|||||||||||
Chemicals — 0.1% |
||||||||||||
Element Solutions, Inc.(e) |
37,305 | 716,256 | ||||||||||
|
|
|||||||||||
Electrical Equipment — 0.0% |
||||||||||||
SunPower Corp.(f) |
1,025 | 10,045 | ||||||||||
|
|
|||||||||||
Energy Equipment & Services — 0.0% |
||||||||||||
Nine Energy Service, Inc.(f) |
2,390 | 9,154 | ||||||||||
|
|
|||||||||||
Financial Services — 0.0% |
||||||||||||
Block, Inc.(f) |
4,614 | 307,154 | ||||||||||
UCI International Remainco LLC(g) |
109,729 | 1 | ||||||||||
|
|
|||||||||||
307,155 | ||||||||||||
Ground Transportation — 0.0% |
||||||||||||
Uber Technologies, Inc.(f) |
14,860 | 641,506 | ||||||||||
|
|
Security | Shares |
Value | ||||||||||
Hotels, Restaurants & Leisure — 0.1% |
|
|||||||||||
Carnival Corp.(f) |
54,231 | $ | 1,021,170 | |||||||||
|
|
|||||||||||
IT Services — 0.0% |
||||||||||||
Twilio, Inc., Class A(f) |
2,522 | 160,450 | ||||||||||
|
|
|||||||||||
Metals & Mining — 0.2% |
||||||||||||
Constellium SE(f) |
138,993 | 2,390,679 | ||||||||||
|
|
|||||||||||
Oil, Gas & Consumable Fuels — 0.0% |
|
|||||||||||
Kcad Holdings I Ltd.(g) |
2,223,465,984 | 22,235 | ||||||||||
|
|
|||||||||||
Pharmaceuticals — 0.1% |
||||||||||||
Catalent, Inc.(f) |
19,494 | 845,260 | ||||||||||
|
|
|||||||||||
Real Estate Management & Development — 0.0% |
|
|||||||||||
ADLER Group SA(b)(f) |
8,254 | 4,976 | ||||||||||
ADLER Group SA |
3,728 | 2,152 | ||||||||||
|
|
|||||||||||
7,128 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.0% |
|
|||||||||||
Maxeon Solar Technologies Ltd.(f) |
128 | 3,604 | ||||||||||
|
|
|||||||||||
Software — 0.1% |
||||||||||||
Informatica, Inc., Class A(f) |
62,173 | 1,150,200 | ||||||||||
|
|
|||||||||||
Total Common Stocks — 0.6% (Cost: $32,788,118) |
7,896,391 | |||||||||||
|
|
|||||||||||
Par (000) |
||||||||||||
Corporate Bonds |
||||||||||||
Aerospace & Defense — 6.3% |
||||||||||||
Bombardier, Inc.(b) |
||||||||||||
7.50%, 03/15/25 |
USD | 166 | 166,285 | |||||||||
7.13%, 06/15/26 |
6,036 | 5,995,334 | ||||||||||
7.88%, 04/15/27 |
4,116 | 4,105,403 | ||||||||||
6.00%, 02/15/28 |
3,089 | 2,919,426 | ||||||||||
7.50%, 02/01/29 |
4,951 | 4,893,296 | ||||||||||
7.45%, 05/01/34 |
434 | 494,760 | ||||||||||
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, |
||||||||||||
7.38%, 08/15/26(b) |
2,695 | 2,438,975 | ||||||||||
Rolls-Royce PLC(b) |
||||||||||||
3.63%, 10/14/25 |
4,941 | 4,667,911 | ||||||||||
5.75%, 10/15/27 |
1,584 | 1,548,763 | ||||||||||
Spirit AeroSystems, Inc.(b) |
||||||||||||
7.50%, 04/15/25 |
126 | 124,502 | ||||||||||
9.38%, 11/30/29 |
3,295 | 3,527,544 | ||||||||||
TransDigm, Inc. |
||||||||||||
6.25%, 03/15/26(b) |
32,149 | 31,991,881 | ||||||||||
6.38%, 06/15/26 |
417 | 411,582 | ||||||||||
7.50%, 03/15/27 |
2,638 | 2,641,746 | ||||||||||
6.75%, 08/15/28(b) |
13,672 | 13,723,817 | ||||||||||
Triumph Group, Inc., 9.00%, 03/15/28(b) |
4,764 | 4,864,230 | ||||||||||
|
|
|||||||||||
84,515,455 | ||||||||||||
Air Freight & Logistics — 0.1% |
||||||||||||
XPO, Inc., 6.25%, 06/01/28(b) |
758 | 745,286 | ||||||||||
|
|
|||||||||||
Automobile Components — 2.6% |
||||||||||||
Adient Global Holdings Ltd., 3.50%, 08/15/24(c) |
EUR | 15 | 15,979 | |||||||||
Clarios Global LP, 6.75%, 05/15/25(b) |
USD | 1,456 | 1,456,891 | |||||||||
Clarios Global LP/Clarios U.S. Finance Co. 4.38%, 05/15/26(c) |
EUR | 1,777 | 1,845,204 |
50 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Automobile Components (continued) |
|
|||||||||||
Clarios Global LP/Clarios U.S. Finance Co. (continued) |
||||||||||||
6.25%, 05/15/26(b) |
USD | 6,305 | $ | 6,264,398 | ||||||||
8.50%, 05/15/27(b) |
13,945 | 13,967,814 | ||||||||||
6.75%, 05/15/28 |
7,569 | 7,542,526 | ||||||||||
Dana Financing Luxembourg SARL, 8.50%, 07/15/31(c) |
EUR | 200 | 225,115 | |||||||||
Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28(b) |
USD | 1,030 | 938,293 | |||||||||
Dometic Group AB, 3.00%, 05/08/26(c) |
EUR | 100 | 101,536 | |||||||||
Forvia, 2.75%, 02/15/27(c) |
167 | 164,826 | ||||||||||
Goodyear Tire & Rubber Co. |
||||||||||||
9.50%, 05/31/25 |
USD | 1,085 | 1,109,491 | |||||||||
5.00%, 07/15/29 |
520 | 468,903 | ||||||||||
5.63%, 04/30/33 |
311 | 270,747 | ||||||||||
IHO Verwaltungs GmbH, (8.75% Cash or 9.50% PIK), 8.75%, 05/15/28(c)(h) |
EUR | 116 | 130,468 | |||||||||
Titan International, Inc., 7.00%, 04/30/28 |
USD | 348 | 325,361 | |||||||||
ZF Finance GmbH(c) |
||||||||||||
5.75%, 08/03/26 |
EUR | 200 | 218,750 | |||||||||
2.00%, 05/06/27 |
200 | 189,596 | ||||||||||
2.75%, 05/25/27 |
100 | 97,111 | ||||||||||
|
|
|||||||||||
35,333,009 | ||||||||||||
Automobiles — 2.2% |
| |||||||||||
Asbury Automotive Group, Inc., 5.00%, 02/15/32(b) |
USD | 1,694 | 1,474,957 | |||||||||
Constellation Automotive Financing PLC, 4.88%, 07/15/27(c) |
GBP | 100 | 97,155 | |||||||||
Ford Motor Co. |
||||||||||||
3.25%, 02/12/32 |
USD | 2,054 | 1,615,850 | |||||||||
6.10%, 08/19/32 |
3,623 | 3,511,252 | ||||||||||
Ford Motor Credit Co. LLC |
||||||||||||
3.81%, 01/09/24 |
713 | 702,839 | ||||||||||
4.54%, 03/06/25 |
GBP | 200 | 240,792 | |||||||||
5.13%, 06/16/25 |
USD | 263 | 255,775 | |||||||||
4.13%, 08/04/25 |
2,166 | 2,054,238 | ||||||||||
4.39%, 01/08/26 |
507 | 479,826 | ||||||||||
6.86%, 06/05/26 |
GBP | 108 | 133,664 | |||||||||
4.95%, 05/28/27 |
USD | 640 | 603,704 | |||||||||
4.87%, 08/03/27 |
EUR | 175 | 187,179 | |||||||||
6.80%, 05/12/28 |
USD | 7,889 | 7,896,234 | |||||||||
6.13%, 05/15/28 |
EUR | 100 | 111,781 | |||||||||
5.11%, 05/03/29 |
USD | 200 | 185,482 | |||||||||
7.35%, 03/06/30 |
4,545 | 4,641,545 | ||||||||||
3.63%, 06/17/31 |
200 | 163,925 | ||||||||||
Ken Garff Automotive LLC, 4.88%, 09/15/28(b) |
680 | 598,075 | ||||||||||
LCM Investments Holdings II LLC, 4.88%, 05/01/29(b) |
1,552 | 1,328,110 | ||||||||||
Lithia Motors, Inc., 3.88%, 06/01/29(b) |
721 | 626,445 | ||||||||||
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(b) |
975 | 774,170 | ||||||||||
RCI Banque SA, (5-year EUR Swap + 2.85%), 2.63%, 02/18/30(a)(c) |
EUR | 600 | 607,631 | |||||||||
Wabash National Corp., 4.50%, 10/15/28(b) |
USD | 1,072 | 929,551 | |||||||||
|
|
|||||||||||
29,220,180 | ||||||||||||
Banks — 0.7% |
| |||||||||||
Banco BPM SpA (3-mo. EURIBOR + 2.80%), 6.00%, 06/14/28 |
EUR | 175 | 189,630 |
Security | Par (000) |
Value | ||||||||||
Banks (continued) |
||||||||||||
Banco BPM SpA (continued) |
||||||||||||
(5-year EUR Swap + 4.67%), 4.25%, 10/01/29(a)(c) |
EUR | 250 | $ | 264,625 | ||||||||
Banco de Sabadell SA(a)(c) |
||||||||||||
(1-year EUR Swap + 2.40%), 5.25%, 02/07/29 |
100 | 106,803 | ||||||||||
(5-year EUR Swap + 2.95%), 2.50%, 04/15/31 |
100 | 95,344 | ||||||||||
Banco Espirito Santo SA(f)(i) |
||||||||||||
4.75%, 01/15/18 |
1,900 | 476,855 | ||||||||||
4.00%, 01/21/19 |
1,100 | 276,074 | ||||||||||
Bank of Ireland Group PLC, (5-year EUR Swap + 7.92%), 7.50%(a)(c)(j) |
200 | 213,618 | ||||||||||
Citigroup, Inc., (1-day SOFR + 2.66%), 6.17%, 05/25/34 |
USD | 2,175 | 2,193,949 | |||||||||
Commerzbank AG, (5-year EUR Swap + 6.36%), 6.13%(a)(c)(j) |
EUR | 400 | 397,197 | |||||||||
First-Citizens Bank & Trust Co., 6.00%, 04/01/36 |
USD | 3,261 | 2,925,589 | |||||||||
Intesa Sanpaolo SpA |
||||||||||||
5.71%, 01/15/26(b) |
400 | 380,812 | ||||||||||
5.15%, 06/10/30(c) |
GBP | 125 | 127,906 | |||||||||
(1-year CMT + 2.60%), 4.20%, 06/01/32(a)(b) |
USD | 855 | 637,221 | |||||||||
(1-year CMT + 2.75%), 4.95%, 06/01/42(a)(b) |
630 | 414,904 | ||||||||||
Macquarie Bank Ltd., 6.80%, 01/18/33(b) |
623 | 625,111 | ||||||||||
|
|
|||||||||||
9,325,638 | ||||||||||||
Beverages — 3.4% |
||||||||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27(b)(h) |
3,679 | 2,980,762 | ||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC |
||||||||||||
6.00%, 06/15/27(b) |
2,141 | 2,103,242 | ||||||||||
3.25%, 09/01/28(b) |
1,708 | 1,467,117 | ||||||||||
3.00%, 09/01/29(c) |
EUR | 464 | 375,981 | |||||||||
4.00%, 09/01/29(b) |
USD | 10,956 | 8,677,084 | |||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. |
||||||||||||
5.25%, 04/30/25(b) |
200 | 195,619 | ||||||||||
2.13%, 08/15/26(c) |
EUR | 1,239 | 1,200,030 | |||||||||
4.13%, 08/15/26(b) |
USD | 1,200 | 1,117,724 | |||||||||
4.75%, 07/15/27(c) |
GBP | 100 | 100,517 | |||||||||
5.25%, 08/15/27(b) |
USD | 868 | 735,266 | |||||||||
Ball Corp., 6.00%, 06/15/29 |
1,028 | 1,020,290 | ||||||||||
Canpack SA/Canpack U.S. LLC, 3.13%, 11/01/25(b) |
584 | 532,900 | ||||||||||
Crown European Holdings SA, 3.38%, 05/15/25(c) |
EUR | 100 | 106,796 | |||||||||
Mauser Packaging Solutions Holding Co.(b) |
||||||||||||
7.88%, 08/15/26 |
USD | 15,705 | 15,603,050 | |||||||||
9.25%, 04/15/27 |
557 | 514,112 | ||||||||||
OI European Group BV, 6.25%, 05/15/28(c) |
EUR | 100 | 111,416 | |||||||||
Owens-Brockway Glass Container, Inc., 6.63%, 05/13/27(b) |
USD | 211 | 208,927 | |||||||||
Trivium Packaging Finance BV |
||||||||||||
5.50%, 08/15/26(b) |
3,921 | 3,764,765 | ||||||||||
8.50%, 08/15/27(b) |
5,459 | 5,254,925 | ||||||||||
(3-mo. EURIBOR + 3.75%), 7.07%, 08/15/26(a)(c) |
EUR | 100 | 107,210 | |||||||||
|
|
|||||||||||
46,177,733 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
51 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Biotechnology(c) — 0.0% |
||||||||||||
Cidron Aida Finco SARL |
||||||||||||
5.00%, 04/01/28 |
EUR | 163 | $ | 160,771 | ||||||||
6.25%, 04/01/28 |
GBP | 133 | 146,825 | |||||||||
Grifols Escrow Issuer SA, 3.88%, 10/15/28 |
EUR | 100 | 93,161 | |||||||||
|
|
|||||||||||
400,757 | ||||||||||||
Broadline Retail — 0.0% | ||||||||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26(b) |
USD | 697 | 648,761 | |||||||||
|
|
|||||||||||
Building Materials — 2.2% | ||||||||||||
Camelot Return Merger Sub, Inc., 8.75%, 08/01/28(b) |
1,004 | 948,774 | ||||||||||
Emerald Debt Merger Sub LLC |
||||||||||||
6.38%, 12/15/30(c) |
EUR | 100 | 108,711 | |||||||||
6.63%, 12/15/30(b) |
USD | 13,876 | 13,754,585 | |||||||||
HT Troplast GmbH, 9.25%, 07/15/25(c) |
EUR | 100 | 110,678 | |||||||||
Jeld-Wen, Inc.(b) |
||||||||||||
6.25%, 05/15/25 |
USD | 852 | 859,455 | |||||||||
4.63%, 12/15/25 |
930 | 900,938 | ||||||||||
New Enterprise Stone & Lime Co., Inc.(b) |
||||||||||||
5.25%, 07/15/28 |
435 | 395,863 | ||||||||||
9.75%, 07/15/28 |
640 | 617,395 | ||||||||||
PCF GmbH, 4.75%, 04/15/26(c) |
EUR | 100 | 83,641 | |||||||||
Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/28(b) |
USD | 4,882 | 4,603,940 | |||||||||
Standard Industries, Inc. |
||||||||||||
2.25%, 11/21/26(c) |
EUR | 511 | 494,300 | |||||||||
5.00%, 02/15/27(b) |
128 | 121,990 | ||||||||||
4.75%, 01/15/28(b) |
USD | 100 | 93,125 | |||||||||
4.38%, 07/15/30(b) |
2,772 | 2,400,821 | ||||||||||
3.38%, 01/15/31(b) |
4,471 | 3,599,348 | ||||||||||
|
|
|||||||||||
29,093,564 | ||||||||||||
Building Products(b) — 1.7% | ||||||||||||
Advanced Drainage Systems, Inc. |
||||||||||||
5.00%, 09/30/27 |
547 | 517,689 | ||||||||||
6.38%, 06/15/30 |
4,547 | 4,498,211 | ||||||||||
Beacon Roofing Supply, Inc., 4.13%, 05/15/29 |
552 | 488,520 | ||||||||||
Foundation Building Materials, Inc., 6.00%, 03/01/29 |
440 | 367,400 | ||||||||||
GYP Holdings III Corp., 4.63%, 05/01/29 |
2,104 | 1,851,520 | ||||||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26 |
386 | 364,695 | ||||||||||
SRS Distribution, Inc. |
||||||||||||
4.63%, 07/01/28 |
1,999 | 1,784,657 | ||||||||||
6.13%, 07/01/29 |
1,746 | 1,507,902 | ||||||||||
6.00%, 12/01/29 |
3,566 | 3,077,636 | ||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28 |
6,735 | 6,103,594 | ||||||||||
White Cap Parent LLC, (8.25% Cash or 9.00% PIK), 8.25%, 03/15/26(h) |
2,051 | 1,964,714 | ||||||||||
|
|
|||||||||||
22,526,538 | ||||||||||||
Capital Markets — 2.2% | ||||||||||||
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27(b) |
708 | 725,674 | ||||||||||
Blackstone Holdings Finance Co. LLC, 6.20%, 04/22/33(b) |
1,774 | 1,811,951 | ||||||||||
Blackstone Private Credit Fund |
||||||||||||
7.05%, 09/29/25 |
432 | 430,880 | ||||||||||
3.25%, 03/15/27 |
590 | 509,831 | ||||||||||
Compass Group Diversified Holdings LLC, |
||||||||||||
5.25%, 04/15/29(b) |
1,129 | 989,589 |
Security | Par (000) |
Value | ||||||||||
Capital Markets (continued) |
||||||||||||
GLP Capital LP/GLP Financing II, Inc., 3.25%, 01/15/32 |
USD | 1,733 | $ | 1,399,248 | ||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
||||||||||||
6.25%, 05/15/26 |
308 | 280,315 | ||||||||||
5.25%, 05/15/27 |
3,545 | 3,057,207 | ||||||||||
4.38%, 02/01/29 |
3,191 | 2,507,169 | ||||||||||
Lehman Brothers Holdings, Inc. |
||||||||||||
5.38%, 10/17/12 |
EUR | 350 | 1,604 | |||||||||
1.00%, 05/17/13 |
USD | 1,535 | 2,302 | |||||||||
4.75%, 01/16/14 |
EUR | 1,890 | 8,662 | |||||||||
1.00%, 02/05/14 |
3,950 | 18,103 | ||||||||||
1.00%, 12/31/49 |
USD | 430 | 645 | |||||||||
Morgan Stanley, (5-year CMT + 2.43%), 5.95%, 01/19/38(a) |
505 | 498,456 | ||||||||||
NFP Corp.(b) |
||||||||||||
6.88%, 08/15/28 |
7,807 | 6,776,634 | ||||||||||
7.50%, 10/01/30 |
4,085 | 3,955,119 | ||||||||||
Northern Trust Corp., 6.13%, 11/02/32 |
1,435 | 1,487,726 | ||||||||||
Owl Rock Capital Corp. |
||||||||||||
3.75%, 07/22/25 |
1,102 | 1,021,156 | ||||||||||
3.40%, 07/15/26 |
785 | 695,327 | ||||||||||
Owl Rock Core Income Corp. |
||||||||||||
5.50%, 03/21/25 |
873 | 840,069 | ||||||||||
3.13%, 09/23/26 |
540 | 465,318 | ||||||||||
7.75%, 09/16/27(b) |
1,852 | 1,842,626 | ||||||||||
|
|
|||||||||||
29,325,611 | ||||||||||||
Chemicals — 3.1% | ||||||||||||
Avient Corp., 7.13%, 08/01/30(b) |
440 | 445,026 | ||||||||||
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25(c) |
EUR | 242 | 258,800 | |||||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29(b) |
USD | 2,011 | 1,711,864 | |||||||||
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27(b) |
2,464 | 2,322,438 | ||||||||||
Chemours Co.(b) |
||||||||||||
5.75%, 11/15/28 |
855 | 785,651 | ||||||||||
4.63%, 11/15/29 |
462 | 390,443 | ||||||||||
Element Solutions, Inc., 3.88%, 09/01/28(b) |
7,277 | 6,348,281 | ||||||||||
FIS Fabbrica Italiana Sintetici SpA, 5.63%, 08/01/27(c) |
EUR | 100 | 96,758 | |||||||||
HB Fuller Co., 4.25%, 10/15/28 |
USD | 606 | 539,364 | |||||||||
Herens Holdco SARL, 4.75%, 05/15/28(b) |
4,049 | 3,137,975 | ||||||||||
Herens Midco SARL, 5.25%, 05/15/29(c) |
EUR | 102 | 63,665 | |||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(b) |
USD | 1,557 | 1,356,707 | |||||||||
INEOS Finance PLC, 6.63%, 05/15/28(c) |
EUR | 100 | 107,020 | |||||||||
INEOS Quattro Finance 2 PLC, 2.50%, 01/15/26(c) |
215 | 209,613 | ||||||||||
Ingevity Corp., 3.88%, 11/01/28(b) |
USD | 494 | 421,761 | |||||||||
Kobe U.S. Midco 2, Inc., (9.25% Cash or 10.00% PIK), 9.25%, 11/01/26(b)(h) |
1,348 | 889,680 | ||||||||||
Kronos International, Inc., 3.75%, 09/15/25(c) |
EUR | 100 | 99,161 | |||||||||
LSF11 A5 HoldCo LLC, 6.63%, 10/15/29(b) |
USD | 725 | 605,519 | |||||||||
Minerals Technologies, Inc., 5.00%, 07/01/28(b) |
878 | 798,980 | ||||||||||
NOVA Chemicals Corp., 4.88%, 06/01/24(b) |
456 | 445,503 | ||||||||||
Olympus Water U.S. Holding Corp. |
||||||||||||
9.63%, 11/15/28(c) |
EUR | 179 | 187,512 | |||||||||
9.75%, 11/15/28(b) |
USD | 3,576 | 3,487,673 |
52 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Chemicals (continued) |
|
|||||||||||
SCIL IV LLC/SCIL USA Holdings LLC |
||||||||||||
5.38%, 11/01/26(b) |
USD | 1,495 | $ | 1,362,904 | ||||||||
9.50%, 07/15/28 |
EUR | 100 | 107,885 | |||||||||
(3-mo. EURIBOR + 4.38%), 7.63%, 11/01/26(a)(c) |
100 | 106,474 | ||||||||||
Scotts Miracle-Gro Co., 4.38%, 02/01/32 |
USD | 1,734 | 1,365,323 | |||||||||
SK Invictus Intermediate II SARL, 5.00%, 10/30/29(b) |
3,950 | 3,138,788 | ||||||||||
Synthomer PLC, 3.88%, 07/01/25(c) |
EUR | 133 | 133,914 | |||||||||
WESCO Distribution, Inc.(b) |
||||||||||||
7.13%, 06/15/25 |
USD | 1,940 | 1,960,438 | |||||||||
7.25%, 06/15/28 |
2,820 | 2,876,558 | ||||||||||
WR Grace Holdings LLC(b) |
||||||||||||
4.88%, 06/15/27 |
733 | 679,807 | ||||||||||
5.63%, 08/15/29 |
5,346 | 4,379,978 | ||||||||||
7.38%, 03/01/31 |
1,068 | 1,046,620 | ||||||||||
|
|
|||||||||||
41,868,083 | ||||||||||||
Commercial Services & Supplies — 3.1% | ||||||||||||
ADT Security Corp.(b) |
||||||||||||
4.13%, 08/01/29 |
1,619 | 1,398,411 | ||||||||||
4.88%, 07/15/32 |
339 | 289,845 | ||||||||||
Albion Financing 1 SARL/Aggreko Holdings, Inc., |
||||||||||||
6.13%, 10/15/26(b) |
940 | 883,600 | ||||||||||
APX Group, Inc.(b) |
||||||||||||
6.75%, 02/15/27 |
1,620 | 1,587,568 | ||||||||||
5.75%, 07/15/29 |
1,478 | 1,282,760 | ||||||||||
BCP V Modular Services Finance II PLC(c) |
||||||||||||
4.75%, 11/30/28 |
EUR | 200 | 185,450 | |||||||||
6.13%, 11/30/28 |
GBP | 100 | 104,775 | |||||||||
Cablevision Lightpath LLC, 3.88%, 09/15/27(b) |
USD | 866 | 725,275 | |||||||||
EC Finance PLC, 3.00%, 10/15/26(c) |
EUR | 109 | 110,674 | |||||||||
Fortress Transportation and Infrastructure Investors LLC(b) |
||||||||||||
6.50%, 10/01/25 |
USD | 3,129 | 3,082,577 | |||||||||
9.75%, 08/01/27 |
1,544 | 1,594,599 | ||||||||||
5.50%, 05/01/28 |
3,594 | 3,288,521 | ||||||||||
Garda World Security Corp., 9.50%, 11/01/27(b) |
328 | 316,879 | ||||||||||
Herc Holdings, Inc., 5.50%, 07/15/27(b) |
4,178 | 4,003,139 | ||||||||||
Hertz Corp.(b) |
||||||||||||
4.63%, 12/01/26 |
666 | 601,065 | ||||||||||
5.00%, 12/01/29 |
476 | 393,478 | ||||||||||
Inter Media and Communication SpA, 6.75%, 02/09/27(c) |
EUR | 200 | 210,850 | |||||||||
LABL, Inc., 9.50%, 11/01/28(b) |
USD | 2,391 | 2,432,570 | |||||||||
Metis Merger Sub LLC, 6.50%, 05/15/29(b) |
763 | 658,167 | ||||||||||
NESCO Holdings II, Inc., 5.50%, 04/15/29(b) |
1,353 | 1,210,935 | ||||||||||
Paprec Holding SA, 3.50%, 07/01/28(c) |
EUR | 100 | 96,194 | |||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc.(b) |
||||||||||||
5.75%, 04/15/26 |
USD | 1,037 | 1,017,948 | |||||||||
6.25%, 01/15/28 |
3,124 | 2,926,568 | ||||||||||
Q-Park Holding I BV, 1.50%, 03/01/25(c) |
EUR | 100 | 104,394 | |||||||||
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29(b) |
USD | 2,072 | 1,610,980 | |||||||||
United Rentals North America, Inc., 6.00%, 12/15/29(b) |
8,933 | 8,911,030 | ||||||||||
Verisure Holding AB(c) |
||||||||||||
3.88%, 07/15/26 |
EUR | 140 | 143,213 | |||||||||
9.25%, 10/15/27 |
100 | 115,940 |
Security | Par (000) |
Value | ||||||||||
Commercial Services & Supplies (continued) |
|
|||||||||||
Verisure Holding AB(c) (continued) | ||||||||||||
7.13%, 02/01/28 |
EUR | 100 | $ | 109,284 | ||||||||
Williams Scotsman International, Inc.(b) |
||||||||||||
6.13%, 06/15/25 |
USD | 1,652 | 1,639,743 | |||||||||
4.63%, 08/15/28 |
1,196 | 1,093,226 | ||||||||||
|
|
|||||||||||
42,129,658 | ||||||||||||
Communications Equipment(b) — 1.0% | ||||||||||||
CommScope Technologies LLC, 6.00%, 06/15/25 |
3,219 | 3,000,331 | ||||||||||
CommScope, Inc. |
||||||||||||
6.00%, 03/01/26 |
4,383 | 4,084,839 | ||||||||||
8.25%, 03/01/27 |
1,785 | 1,427,969 | ||||||||||
4.75%, 09/01/29 |
1,804 | 1,422,275 | ||||||||||
Viasat, Inc. |
||||||||||||
5.63%, 09/15/25 |
2,321 | 2,249,026 | ||||||||||
5.63%, 04/15/27 |
837 | 781,473 | ||||||||||
Viavi Solutions, Inc., 3.75%, 10/01/29 |
1,269 | 1,078,274 | ||||||||||
|
|
|||||||||||
14,044,187 | ||||||||||||
Construction Materials(b) — 0.3% | ||||||||||||
American Builders & Contractors Supply Co., Inc., 3.88%, 11/15/29 |
1,630 | 1,391,475 | ||||||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27 |
1,897 | 1,764,218 | ||||||||||
H&E Equipment Services, Inc., 3.88%, 12/15/28 |
358 | 309,950 | ||||||||||
Resideo Funding, Inc., 4.00%, 09/01/29 |
290 | 240,584 | ||||||||||
Ritchie Bros Holdings, Inc., 6.75%, 03/15/28 |
412 | 415,263 | ||||||||||
|
|
|||||||||||
4,121,490 | ||||||||||||
Consumer Discretionary — 4.0% | ||||||||||||
APi Group DE, Inc., 4.75%, 10/15/29(b) |
1,283 | 1,155,470 | ||||||||||
Carnival Corp. |
||||||||||||
10.13%, 02/01/26(c) |
EUR | 201 | 229,969 | |||||||||
10.50%, 02/01/26(b) |
USD | 3,051 | 3,207,251 | |||||||||
7.63%, 03/01/26(b) |
842 | 824,654 | ||||||||||
5.75%, 03/01/27(b) |
5,401 | 4,972,107 | ||||||||||
9.88%, 08/01/27(b) |
1,240 | 1,291,626 | ||||||||||
6.00%, 05/01/29(b) |
2,706 | 2,416,010 | ||||||||||
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/28(b) |
10,283 | 11,246,811 | ||||||||||
CoreLogic, Inc., 4.50%, 05/01/28(b) |
1,332 | 1,073,925 | ||||||||||
Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer, Inc., 5.00%, 02/01/26(b) |
561 | 504,900 | ||||||||||
Life Time, Inc.(b) |
||||||||||||
5.75%, 01/15/26 |
1,652 | 1,609,928 | ||||||||||
8.00%, 04/15/26 |
1,262 | 1,246,075 | ||||||||||
Lindblad Expeditions LLC, 6.75%, 02/15/27(b) |
1,551 | 1,477,327 | ||||||||||
NCL Corp. Ltd.(b) |
||||||||||||
5.88%, 03/15/26 |
2,002 | 1,872,998 | ||||||||||
8.38%, 02/01/28 |
719 | 751,315 | ||||||||||
7.75%, 02/15/29 |
1,692 | 1,607,078 | ||||||||||
NCL Finance Ltd., 6.13%, 03/15/28(b) |
849 | 764,116 | ||||||||||
Neptune Bidco U.S., Inc., 9.29%, 04/15/29(b) |
1,612 | 1,479,836 | ||||||||||
Royal Caribbean Cruises Ltd.(b) |
||||||||||||
11.50%, 06/01/25 |
521 | 552,781 | ||||||||||
4.25%, 07/01/26 |
462 | 424,093 | ||||||||||
5.50%, 08/31/26 |
258 | 244,613 | ||||||||||
5.38%, 07/15/27 |
868 | 811,627 | ||||||||||
11.63%, 08/15/27 |
860 | 935,198 | ||||||||||
5.50%, 04/01/28 |
2,640 | 2,461,905 | ||||||||||
8.25%, 01/15/29 |
923 | 969,150 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
53 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Consumer Discretionary (continued) |
||||||||||||
Royal Caribbean Cruises Ltd.(b) (continued) |
||||||||||||
9.25%, 01/15/29 |
USD | 1,695 | $ | 1,805,873 | ||||||||
7.25%, 01/15/30 |
1,455 | 1,473,688 | ||||||||||
Techem Verwaltungsgesellschaft 674 mbH, |
||||||||||||
6.00%, 07/30/26(c) |
EUR | 88 | 93,945 | |||||||||
TUI Cruises GmbH, 6.50%, 05/15/26(c) |
100 | 100,390 | ||||||||||
Viking Cruises Ltd.(b) |
||||||||||||
5.88%, 09/15/27 |
USD | 1,436 | 1,319,856 | |||||||||
9.13%, 07/15/31 |
3,191 | 3,222,910 | ||||||||||
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29(b) |
886 | 810,690 | ||||||||||
|
|
|||||||||||
52,958,115 | ||||||||||||
Consumer Finance — 3.6% | ||||||||||||
American Express Co., (5-year CMT + 2.85%), 3.55%(a)(j) |
4,020 | 3,336,600 | ||||||||||
Block, Inc. |
||||||||||||
2.75%, 06/01/26 |
3,632 | 3,306,910 | ||||||||||
3.50%, 06/01/31 |
8,304 | 6,877,556 | ||||||||||
Capital One Financial Corp.(a) |
||||||||||||
(1-day SOFR + 2.64%), 6.31%, 06/08/29 |
725 | 720,116 | ||||||||||
(1-day SOFR + 2.86%), 6.38%, 06/08/34 |
520 | 516,274 | ||||||||||
Discover Financial Services, 6.70%, 11/29/32 |
445 | 458,454 | ||||||||||
Encore Capital Group, Inc., 5.38%, 02/15/26(c) |
GBP | 100 | 110,934 | |||||||||
Ford Motor Credit Co. LLC, 7.20%, 06/10/30 |
USD | 3,760 | 3,794,630 | |||||||||
Global Payments, Inc. |
||||||||||||
3.20%, 08/15/29 |
671 | 583,223 | ||||||||||
5.40%, 08/15/32 |
2,892 | 2,818,071 | ||||||||||
5.95%, 08/15/52 |
1,413 | 1,352,027 | ||||||||||
Iron Mountain U.K. PLC, 3.88%, 11/15/25(c) |
GBP | 100 | 118,375 | |||||||||
Navient Corp. |
||||||||||||
5.88%, 10/25/24 |
USD | 1,965 | 1,931,131 | |||||||||
9.38%, 07/25/30 |
805 | 800,693 | ||||||||||
Nexi SpA, 0.00%, 02/24/28(c)(k)(l) |
EUR | 200 | 164,144 | |||||||||
OneMain Finance Corp. |
||||||||||||
6.88%, 03/15/25 |
USD | 1,060 | 1,049,539 | |||||||||
7.13%, 03/15/26 |
809 | 794,836 | ||||||||||
6.63%, 01/15/28 |
3,592 | 3,388,226 | ||||||||||
5.38%, 11/15/29 |
705 | 599,354 | ||||||||||
Sabre Global, Inc.(b) |
||||||||||||
9.25%, 04/15/25 |
152 | 141,755 | ||||||||||
7.38%, 09/01/25 |
1,829 | 1,623,439 | ||||||||||
Shift4 Payments LLC/Shift4 Payments Finance |
||||||||||||
Sub, Inc., 4.63%, 11/01/26(b) |
3,237 | 3,035,562 | ||||||||||
SLM Corp., 3.13%, 11/02/26 |
930 | 804,450 | ||||||||||
Verscend Escrow Corp., 9.75%, 08/15/26(b) |
10,288 | 10,319,811 | ||||||||||
|
|
|||||||||||
48,646,110 | ||||||||||||
Consumer Staples Distribution & Retail — 1.2% | ||||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(b) |
||||||||||||
4.63%, 01/15/27 |
373 | 353,419 | ||||||||||
5.88%, 02/15/28 |
1,328 | 1,290,471 | ||||||||||
6.50%, 02/15/28 |
4,762 | 4,769,905 | ||||||||||
3.50%, 03/15/29 |
449 | 388,672 | ||||||||||
4.88%, 02/15/30 |
801 | 739,499 | ||||||||||
Bellis Acquisition Co. PLC(c) |
||||||||||||
3.25%, 02/16/26 |
GBP | 100 | 106,046 | |||||||||
4.50%, 02/16/26 |
328 | 356,242 | ||||||||||
Darling Ingredients, Inc., 6.00%, 06/15/30(b) |
USD | 1,415 | 1,381,966 |
Security | Par (000) |
Value | ||||||||||
Consumer Staples Distribution & Retail (continued) |
| |||||||||||
Lamb Weston Holdings, Inc.(b) |
||||||||||||
4.88%, 05/15/28 |
USD | 100 | $ | 95,774 | ||||||||
4.13%, 01/31/30 |
205 | 183,211 | ||||||||||
4.38%, 01/31/32 |
744 | 664,597 | ||||||||||
Performance Food Group, Inc.(b) |
||||||||||||
5.50%, 10/15/27 |
2,744 | 2,643,935 | ||||||||||
4.25%, 08/01/29 |
86 | 76,567 | ||||||||||
Picard Groupe SAS, 3.88%, 07/01/26(c) |
EUR | 112 | 111,826 | |||||||||
Post Holdings, Inc.(b) |
||||||||||||
5.50%, 12/15/29 |
USD | 937 | 864,635 | |||||||||
4.50%, 09/15/31 |
141 | 120,419 | ||||||||||
Premier Foods Finance PLC, 3.50%, 10/15/26(c) |
GBP | 100 | 110,627 | |||||||||
U.S. Foods, Inc.(b) |
||||||||||||
6.25%, 04/15/25 |
USD | 841 | 840,651 | |||||||||
4.75%, 02/15/29 |
224 | 205,083 | ||||||||||
4.63%, 06/01/30 |
149 | 133,540 | ||||||||||
United Natural Foods, Inc., 6.75%, 10/15/28(b) |
454 | 376,311 | ||||||||||
|
|
|||||||||||
15,813,396 | ||||||||||||
Containers & Packaging — 1.0% | ||||||||||||
Clydesdale Acquisition Holdings, Inc.(b) |
||||||||||||
6.63%, 04/15/29 |
4,060 | 3,872,017 | ||||||||||
8.75%, 04/15/30 |
3,713 | 3,277,554 | ||||||||||
Crown European Holdings SA, 5.00%, 05/15/28 |
EUR | 100 | 110,075 | |||||||||
Fiber Bidco SpA, 11.00%, 10/25/27(c) |
100 | 116,540 | ||||||||||
Graphic Packaging International LLC |
||||||||||||
4.75%, 07/15/27(b) |
USD | 574 | 545,739 | |||||||||
3.50%, 03/15/28(b) |
35 | 31,298 | ||||||||||
2.63%, 02/01/29(c) |
EUR | 556 | 531,616 | |||||||||
Kleopatra Finco SARL, 4.25%, 03/01/26(c) |
100 | 90,984 | ||||||||||
LABL, Inc., 5.88%, 11/01/28(b) |
USD | 1,085 | 986,786 | |||||||||
OI European Group BV, 6.25%, 05/15/28 |
EUR | 620 | 690,777 | |||||||||
Owens-Brockway Glass Container, Inc., 7.25%, 05/15/31 |
USD | 1,256 | 1,271,700 | |||||||||
Sealed Air Corp./Sealed Air Corp. U.S., 6.13%, 02/01/28(b) |
903 | 896,343 | ||||||||||
Trident TPI Holdings, Inc., 12.75%, 12/31/28 |
565 | 585,905 | ||||||||||
|
|
|||||||||||
13,007,334 | ||||||||||||
Diversified Consumer Services — 3.3% | ||||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp.(b) |
||||||||||||
6.63%, 07/15/26 |
11,899 | 11,291,477 | ||||||||||
9.75%, 07/15/27 |
3,520 | 3,111,516 | ||||||||||
6.00%, 06/01/29 |
7,236 | 5,339,483 | ||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL |
||||||||||||
4.63%, 06/01/28(b) |
5,681 | 4,791,069 | ||||||||||
4.88%, 06/01/28(c) |
GBP | 100 | 98,425 | |||||||||
Cedacri Mergeco SpA, (3-mo. EURIBOR + 5.50%), 8.88%, 05/15/28 |
EUR | 100 | 104,755 | |||||||||
Clarivate Science Holdings Corp.(b) |
||||||||||||
3.88%, 07/01/28 |
USD | 6,415 | 5,686,550 | |||||||||
4.88%, 07/01/29 |
4,846 | 4,298,914 | ||||||||||
Garda World Security Corp.(b) |
||||||||||||
4.63%, 02/15/27 |
595 | 544,426 | ||||||||||
7.75%, 02/15/28 |
2,744 | 2,723,752 | ||||||||||
Graham Holdings Co., 5.75%, 06/01/26(b) |
705 | 690,900 | ||||||||||
Macquarie Airfinance Holdings Ltd., 8.38%, 05/01/28 |
579 | 587,071 |
54 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Diversified Consumer Services (continued) |
| |||||||||||
Rekeep SpA, 7.25%, 02/01/26(c) |
EUR | 100 | $ | 102,004 | ||||||||
Sotheby’s, 7.38%, 10/15/27(b) |
USD | 5,001 | 4,497,862 | |||||||||
|
|
|||||||||||
43,868,204 | ||||||||||||
Diversified REITs — 1.5% | ||||||||||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(b) |
866 | 729,300 | ||||||||||
Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27(b) |
590 | 432,825 | ||||||||||
HAT Holdings I LLC/HAT Holdings II LLC, 3.38%, 06/15/26(b) |
1,021 | 915,064 | ||||||||||
Iron Mountain, Inc., 5.63%, 07/15/32(b) |
3,252 | 2,909,173 | ||||||||||
MPT Operating Partnership LP/MPT Finance Corp. |
||||||||||||
2.55%, 12/05/23 |
GBP | 556 | 678,668 | |||||||||
4.63%, 08/01/29 |
USD | 4,629 | 3,499,339 | |||||||||
3.50%, 03/15/31 |
87 | 59,945 | ||||||||||
RHP Hotel Properties LP/RHP Finance Corp. |
||||||||||||
4.75%, 10/15/27 |
1,591 | 1,481,221 | ||||||||||
7.25%, 07/15/28 |
1,748 | 1,765,882 | ||||||||||
4.50%, 02/15/29(b) |
5,411 | 4,788,735 | ||||||||||
RLJ Lodging Trust LP, 4.00%, 09/15/29(b) |
1,279 | 1,071,145 | ||||||||||
Service Properties Trust, 7.50%, 09/15/25 |
524 | 514,566 | ||||||||||
VICI Properties LP, 4.95%, 02/15/30 |
1,185 | 1,111,625 | ||||||||||
VICI Properties LP/VICI Note Co., Inc., 3.88%, 02/15/29(b) |
241 | 211,493 | ||||||||||
|
|
|||||||||||
20,168,981 | ||||||||||||
Diversified Telecommunication Services — 2.5% | ||||||||||||
British Telecommunications PLC, (5-year UK Government Bond + 3.82%), 8.38%, 12/20/83 |
GBP | 150 | 187,008 | |||||||||
Level 3 Financing, Inc.(b) |
||||||||||||
3.40%, 03/01/27 |
USD | 7,197 | 6,106,654 | |||||||||
10.50%, 05/15/30 |
6,143 | 6,232,891 | ||||||||||
Lumen Technologies, Inc., 4.00%, 02/15/27(b) |
5,093 | 3,795,355 | ||||||||||
SoftBank Group Corp.(c) |
||||||||||||
2.13%, 07/06/24 |
EUR | 249 | 261,520 | |||||||||
4.75%, 07/30/25 |
100 | 106,954 | ||||||||||
3.88%, 07/06/32 |
200 | 165,044 | ||||||||||
Telecom Italia Capital SA |
||||||||||||
6.38%, 11/15/33 |
USD | 1,453 | 1,232,595 | |||||||||
6.00%, 09/30/34 |
2,290 | 1,846,778 | ||||||||||
7.20%, 07/18/36 |
196 | 168,470 | ||||||||||
7.72%, 06/04/38 |
185 | 163,579 | ||||||||||
Telecom Italia Finance SA, 7.75%, 01/24/33 |
EUR | 83 | 94,538 | |||||||||
Telecom Italia SpA |
||||||||||||
5.30%, 05/30/24(b) |
USD | 322 | 312,970 | |||||||||
2.75%, 04/15/25(c) |
EUR | 139 | 142,955 | |||||||||
3.00%, 09/30/25(c) |
100 | 102,736 | ||||||||||
1.63%, 01/18/29(c) |
143 | 119,387 | ||||||||||
Telecom Italia SpA/Milano, 6.88%, 02/15/28(c) |
218 | 236,526 | ||||||||||
Zayo Group Holdings, Inc.(b) |
||||||||||||
4.00%, 03/01/27 |
USD | 12,949 | 9,145,286 | |||||||||
6.13%, 03/01/28 |
5,556 | 3,471,769 | ||||||||||
|
|
|||||||||||
33,893,015 | ||||||||||||
Electric Utilities — 0.6% | ||||||||||||
Edison International, Series A, (5-year CMT + 4.70%), 5.38%(a)(j) |
2,200 | 1,922,580 | ||||||||||
EDP - Energias de Portugal SA(a)(c) |
||||||||||||
(5-year EUR Swap + 1.84%), 1.70%, 07/20/80 |
EUR | 100 | 99,545 |
Security | Par (000) |
Value | ||||||||||
Electric Utilities (continued) |
||||||||||||
EDP - Energias de Portugal SA(a)(c) (continued) |
||||||||||||
(5-year EUR Swap + 2.38%), 1.88%, 08/02/81 |
EUR | 200 | $ | 191,578 | ||||||||
Electricite de France SA, (5-year CMT + 5.41%), 9.13%(a)(b)(j) |
USD | 774 | 793,721 | |||||||||
Enel SpA, (5-year EURIBOR ICE Swap + 3.49%), 6.38%(a)(c)(j) |
EUR | 100 | 109,787 | |||||||||
Pacific Gas and Electric Co. |
||||||||||||
6.10%, 01/15/29 |
USD | 1,285 | 1,264,328 | |||||||||
6.40%, 06/15/33 |
1,890 | 1,879,654 | ||||||||||
6.75%, 01/15/53 |
885 | 873,402 | ||||||||||
Palomino Funding Trust I, 7.23%, 05/17/28(b) |
682 | 682,336 | ||||||||||
|
|
|||||||||||
7,816,931 | ||||||||||||
Electrical Equipment(b) — 0.6% | ||||||||||||
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 |
2,205 | 2,169,730 | ||||||||||
GrafTech Finance, Inc., 4.63%, 12/15/28 |
532 | 432,262 | ||||||||||
Regal Rexnord Corp. |
||||||||||||
6.05%, 02/15/26 |
460 | 460,584 | ||||||||||
6.05%, 04/15/28 |
3,214 | 3,190,562 | ||||||||||
6.30%, 02/15/30 |
1,055 | 1,051,877 | ||||||||||
6.40%, 04/15/33 |
1,095 | 1,094,077 | ||||||||||
|
|
|||||||||||
8,399,092 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.5% | ||||||||||||
BWX Technologies, Inc., 4.13%, 06/30/28(b) |
1,495 | 1,363,962 | ||||||||||
CDW LLC/CDW Finance Corp., 3.25%, 02/15/29 |
1,306 | 1,119,025 | ||||||||||
Imola Merger Corp., 4.75%, 05/15/29(b) |
107 | 93,058 | ||||||||||
Vertiv Group Corp., 4.13%, 11/15/28(b) |
5,085 | 4,581,451 | ||||||||||
|
|
|||||||||||
7,157,496 | ||||||||||||
Energy Equipment & Services — 1.4% | ||||||||||||
Archrock Partners LP/Archrock Partners Finance Corp.(b) |
||||||||||||
6.88%, 04/01/27 |
3,608 | 3,463,680 | ||||||||||
6.25%, 04/01/28 |
801 | 752,027 | ||||||||||
Enerflex Ltd., 9.00%, 10/15/27(b) |
1,227 | 1,193,834 | ||||||||||
Nine Energy Service, Inc., 13.00%, 02/01/28 |
478 | 419,791 | ||||||||||
Noble Finance II LLC, 8.00%, 04/15/30 |
1,765 | 1,794,440 | ||||||||||
USA Compression Partners LP/USA Compression Finance Corp. |
||||||||||||
6.88%, 04/01/26 |
3,626 | 3,552,009 | ||||||||||
6.88%, 09/01/27 |
1,338 | 1,277,649 | ||||||||||
Valaris Ltd., 8.38%, 04/30/30 |
2,924 | 2,933,825 | ||||||||||
Vallourec SA, 8.50%, 06/30/26(c) |
EUR | 138 | 150,444 | |||||||||
Weatherford International Ltd.(b) |
||||||||||||
6.50%, 09/15/28 |
USD | 728 | 731,130 | |||||||||
8.63%, 04/30/30 |
1,785 | 1,812,207 | ||||||||||
|
|
|||||||||||
18,081,036 | ||||||||||||
Entertainment — 0.1% | ||||||||||||
Allwyn Entertainment Financing U.K. PLC |
||||||||||||
7.88%, 04/30/29(b) |
800 | 812,312 | ||||||||||
7.25%, 04/30/30(c) |
EUR | 100 | 110,620 | |||||||||
|
|
|||||||||||
922,932 | ||||||||||||
Environmental, Maintenance & Security Service — 1.5% | ||||||||||||
Clean Harbors, Inc., 6.38%, 02/01/31(b) |
USD | 1,231 | 1,238,706 | |||||||||
Covanta Holding Corp. |
||||||||||||
4.88%, 12/01/29(b) |
2,689 | 2,325,985 | ||||||||||
5.00%, 09/01/30 |
520 | 441,025 | ||||||||||
GFL Environmental, Inc.(b) |
||||||||||||
3.75%, 08/01/25 |
964 | 917,119 | ||||||||||
5.13%, 12/15/26 |
218 | 210,324 | ||||||||||
4.00%, 08/01/28 |
3,809 | 3,405,441 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
55 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Environmental, Maintenance & Security Service (continued) |
| |||||||||||
GFL Environmental, Inc.(b) (continued) |
||||||||||||
3.50%, 09/01/28 |
USD | 280 | $ | 249,196 | ||||||||
4.75%, 06/15/29 |
2,070 | 1,891,176 | ||||||||||
4.38%, 08/15/29 |
3,161 | 2,814,388 | ||||||||||
Tervita Corp., 11.00%, 12/01/25(b) |
415 | 440,257 | ||||||||||
Waste Pro USA, Inc., 5.50%, 02/15/26(b) |
6,819 | 6,321,198 | ||||||||||
|
|
|||||||||||
20,254,815 | ||||||||||||
Financial Services — 2.0% | ||||||||||||
Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28(b) |
2,432 | 1,882,334 | ||||||||||
Bank of America Corp., (1-day SOFR + 1.99%), 6.20%, 11/10/28(a) |
1,563 | 1,606,528 | ||||||||||
Barclays PLC, 5.20%, 05/12/26 |
800 | 771,798 | ||||||||||
Enact Holdings, Inc., 6.50%, 08/15/25(b) |
2,158 | 2,119,861 | ||||||||||
Garfunkelux Holdco 3 SA, 6.75%, 11/01/25(c) |
EUR | 100 | 79,658 | |||||||||
GGAM Finance Ltd.(b) |
||||||||||||
7.75%, 05/15/26 |
USD | 237 | 237,889 | |||||||||
8.00%, 06/15/28 |
237 | 237,121 | ||||||||||
Global Aircraft Leasing Co. Ltd.(b)(h) |
||||||||||||
(6.50% Cash or 7.25% PIK), 6.50%, 09/15/24 |
708 | 644,926 | ||||||||||
Series 2021, (6.50% Cash or 7.25% PIK), 7.25%, 09/15/24 |
1,563 | 1,430,385 | ||||||||||
Home Point Capital, Inc., 5.00%, 02/01/26(b) |
4,175 | 3,743,240 | ||||||||||
HSBC Holdings PLC, (1-day SOFR + 3.35%), 7.39%, 11/03/28(a) |
1,270 | 1,340,337 | ||||||||||
Intrum AB, 4.88%, 08/15/25(c) |
EUR | 100 | 90,098 | |||||||||
ION Trading Technologies SARL, 5.75%, 05/15/28(b) |
USD | 1,268 | 1,094,550 | |||||||||
Jefferies Finance LLC/JFIN Co.-Issuer Corp., 5.00%, 08/15/28(b) |
1,679 | 1,376,468 | ||||||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.(b) |
||||||||||||
5.25%, 10/01/25 |
241 | 227,574 | ||||||||||
4.75%, 06/15/29 |
1,196 | 973,348 | ||||||||||
Lloyds Banking Group PLC, (5-year EURIBOR ICE Swap + 5.29%), 4.95%(a)(c)(j) |
EUR | 200 | 198,577 | |||||||||
Nationstar Mortgage Holdings, Inc.(b) |
||||||||||||
6.00%, 01/15/27 |
USD | 85 | 79,074 | |||||||||
5.75%, 11/15/31 |
1,420 | 1,166,452 | ||||||||||
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.88%, 10/15/26(b) |
6,248 | 5,529,480 | ||||||||||
Spectrum Brands, Inc., 5.50%, 07/15/30(b) |
996 | 908,850 | ||||||||||
UBS Group AG(a) |
||||||||||||
(1-year EURIBOR ICE Swap + 4.95%), 7.75%, 03/01/29(c) |
EUR | 112 | 135,289 | |||||||||
(5-year CMT + 3.31%), 4.38%(b)(j) |
USD | 950 | 669,218 | |||||||||
UniCredit SpA, (5-year EUR Swap + 2.80%), 2.73%, 01/15/32(a)(c) |
EUR | 200 | 190,349 | |||||||||
|
|
|||||||||||
26,733,404 | ||||||||||||
Food Products — 1.4% | ||||||||||||
Aramark International Finance SARL, 3.13%, 04/01/25(c) |
582 | 608,945 | ||||||||||
Aramark Services, Inc.(b) |
||||||||||||
5.00%, 04/01/25 |
USD | 338 | 333,048 | |||||||||
6.38%, 05/01/25 |
1,513 | 1,511,605 | ||||||||||
5.00%, 02/01/28 |
5,051 | 4,760,769 | ||||||||||
Chobani LLC/Chobani Finance Corp., Inc.(b) |
||||||||||||
7.50%, 04/15/25 |
6,490 | 6,457,623 |
Security | Par (000) |
Value | ||||||||||
Food Products (continued) |
|
|||||||||||
Chobani LLC/Chobani Finance Corp., Inc.(b) (continued) |
||||||||||||
4.63%, 11/15/28 |
USD | 3,990 | $ | 3,630,900 | ||||||||
Darling Global Finance BV, 3.63%, 05/15/26(c) |
EUR | 457 | 486,212 | |||||||||
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/29(b) |
USD | 512 | 410,222 | |||||||||
Tereos Finance Groupe I SA, 7.25%, 04/15/28(c) |
EUR | 100 | 110,915 | |||||||||
|
|
|||||||||||
18,310,239 | ||||||||||||
Gas Utilities — 0.1% | ||||||||||||
Howard Midstream Energy Partners LLC, 8.88%, 07/15/28 |
USD | 1,391 | 1,397,955 | |||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31(b) |
537 | 449,549 | ||||||||||
|
|
|||||||||||
1,847,504 | ||||||||||||
Health Care Equipment & Supplies — 0.7% | ||||||||||||
Avantor Funding, Inc. |
||||||||||||
2.63%, 11/01/25(c) |
EUR | 527 | 550,946 | |||||||||
3.88%, 07/15/28(c) |
100 | 99,779 | ||||||||||
4.63%, 07/15/28(b) |
USD | 2,380 | 2,206,076 | |||||||||
3.88%, 11/01/29(b) |
6,485 | 5,677,802 | ||||||||||
Embecta Corp., 6.75%, 02/15/30(b) |
376 | 336,957 | ||||||||||
Garden Spinco Corp., 8.63%, 07/20/30(b) |
963 | 1,034,985 | ||||||||||
|
|
|||||||||||
9,906,545 | ||||||||||||
Health Care Providers & Services — 3.5% | ||||||||||||
Acadia Healthcare Co., Inc.(b) |
||||||||||||
5.50%, 07/01/28 |
286 | 273,516 | ||||||||||
5.00%, 04/15/29 |
146 | 134,627 | ||||||||||
AdaptHealth LLC, 6.13%, 08/01/28(b) |
1,120 | 970,172 | ||||||||||
AHP Health Partners, Inc., 5.75%, 07/15/29(b) |
1,951 | 1,682,211 | ||||||||||
Cano Health LLC, 6.25%, 10/01/28(b) |
484 | 302,500 | ||||||||||
Centene Corp., 2.63%, 08/01/31 |
5 | 3,984 | ||||||||||
CHS/Community Health Systems, Inc.(b) |
||||||||||||
6.00%, 01/15/29 |
2,656 | 2,234,360 | ||||||||||
5.25%, 05/15/30 |
3,975 | 3,131,216 | ||||||||||
4.75%, 02/15/31 |
1,945 | 1,469,999 | ||||||||||
Encompass Health Corp. |
||||||||||||
4.50%, 02/01/28 |
2,223 | 2,068,176 | ||||||||||
4.75%, 02/01/30 |
251 | 228,536 | ||||||||||
4.63%, 04/01/31 |
1,228 | 1,088,574 | ||||||||||
HealthEquity, Inc., 4.50%, 10/01/29(b) |
3,489 | 3,074,966 | ||||||||||
IQVIA, Inc., 6.50%, 05/15/30(b) |
1,412 | 1,425,941 | ||||||||||
Legacy LifePoint Health LLC(b) |
||||||||||||
6.75%, 04/15/25 |
1,553 | 1,442,457 | ||||||||||
4.38%, 02/15/27 |
664 | 513,780 | ||||||||||
Medline Borrower LP(b) |
||||||||||||
3.88%, 04/01/29 |
1,055 | 916,862 | ||||||||||
5.25%, 10/01/29 |
5,836 | 5,063,892 | ||||||||||
ModivCare, Inc., 5.88%, 11/15/25(b) |
1,322 | 1,224,358 | ||||||||||
Molina Healthcare, Inc.(b) |
||||||||||||
4.38%, 06/15/28 |
294 | 271,024 | ||||||||||
3.88%, 05/15/32 |
149 | 124,914 | ||||||||||
Surgery Center Holdings, Inc.(b) |
||||||||||||
6.75%, 07/01/25 |
997 | 993,448 | ||||||||||
10.00%, 04/15/27 |
1,948 | 1,991,830 | ||||||||||
Teleflex, Inc., 4.63%, 11/15/27 |
80 | 75,400 | ||||||||||
Tenet Healthcare Corp. |
||||||||||||
4.88%, 01/01/26 |
3,460 | 3,370,003 |
56 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Health Care Providers & Services (continued) |
| |||||||||||
Tenet Healthcare Corp. (continued) |
||||||||||||
6.25%, 02/01/27 |
USD | 2,018 | $ | 1,997,352 | ||||||||
5.13%, 11/01/27 |
140 | 133,655 | ||||||||||
6.13%, 10/01/28 |
596 | 573,769 | ||||||||||
6.13%, 06/15/30 |
3,898 | 3,842,259 | ||||||||||
6.75%, 05/15/31 |
6,830 | 6,846,637 | ||||||||||
|
|
|||||||||||
47,470,418 | ||||||||||||
Health Care Technology — 1.0% | ||||||||||||
AthenaHealth Group, Inc., 6.50%, 02/15/30(b) |
9,684 | 8,150,443 | ||||||||||
Catalent Pharma Solutions, Inc. |
||||||||||||
5.00%, 07/15/27(b) |
727 | 666,941 | ||||||||||
2.38%, 03/01/28(c) |
EUR | 100 | 87,717 | |||||||||
3.13%, 02/15/29(b) |
USD | 2,537 | 2,062,758 | |||||||||
Fortrea Holdings, Inc., 7.50%, 07/01/30(b) |
1,036 | 1,060,833 | ||||||||||
IQVIA, Inc. |
||||||||||||
1.75%, 03/15/26(c) |
EUR | 330 | 332,639 | |||||||||
5.00%, 10/15/26(b) |
USD | 1,054 | 1,017,713 | |||||||||
2.25%, 03/15/29(c) |
EUR | 100 | 93,167 | |||||||||
|
|
|||||||||||
13,472,211 | ||||||||||||
Hotels, Restaurants & Leisure — 6.4% | ||||||||||||
Accor SA, (5-year EUR Swap + 4.56%), 4.38%(a)(c)(j) |
200 | 214,490 | ||||||||||
Boyne USA, Inc., 4.75%, 05/15/29(b) |
USD | 1,752 | 1,578,830 | |||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc.(b) 3.88%, 01/15/28 |
495 | 452,516 | ||||||||||
4.38%, 01/15/28 |
1,545 | 1,426,303 | ||||||||||
4.00%, 10/15/30 |
416 | 356,026 | ||||||||||
Caesars Entertainment, Inc.(b) |
||||||||||||
6.25%, 07/01/25 |
8,780 | 8,739,342 | ||||||||||
8.13%, 07/01/27 |
8,705 | 8,909,298 | ||||||||||
4.63%, 10/15/29 |
3,544 | 3,094,658 | ||||||||||
7.00%, 02/15/30 |
6,747 | 6,775,607 | ||||||||||
CCM Merger, Inc., 6.38%, 05/01/26(b) |
485 | 470,450 | ||||||||||
CDI Escrow Issuer, Inc., 5.75%, 04/01/30(b) |
526 | 489,610 | ||||||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op |
||||||||||||
5.38%, 04/15/27 |
406 | 386,010 | ||||||||||
6.50%, 10/01/28 |
293 | 285,737 | ||||||||||
Churchill Downs, Inc. |
||||||||||||
5.50%, 04/01/27(b) |
850 | 817,217 | ||||||||||
4.75%, 01/15/28(b) |
4,469 | 4,144,555 | ||||||||||
6.75%, 05/01/31 |
10,340 | 10,223,675 | ||||||||||
Cirsa Finance International SARL, 4.75%, 05/22/25(c) |
EUR | 147 | 157,766 | |||||||||
Codere Finance 2 Luxembourg SA(c)(h) |
||||||||||||
(2.00% Cash or 10.75% PIK), 12.75%, 11/30/27 |
59 | 19,576 | ||||||||||
(8.00% Cash and 3.00% PIK), 11.00%, 09/30/26 |
132 | 115,654 | ||||||||||
CPUK Finance Ltd., 4.50%, 08/28/27(c) |
GBP | 100 | 108,172 | |||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.(b) |
||||||||||||
4.63%, 01/15/29 |
USD | 1,524 | 1,337,310 | |||||||||
6.75%, 01/15/30 |
318 | 270,630 | ||||||||||
Hilton Domestic Operating Co., Inc. |
||||||||||||
5.75%, 05/01/28(b) |
1,133 | 1,115,680 |
Security | Par (000) |
Value | ||||||||||
Hotels, Restaurants & Leisure (continued) |
||||||||||||
Hilton Domestic Operating Co., Inc. (continued) |
||||||||||||
3.75%, 05/01/29(b) |
USD | 544 | $ | 482,861 | ||||||||
4.88%, 01/15/30 |
1,860 | 1,734,301 | ||||||||||
4.00%, 05/01/31(b) |
1,094 | 950,118 | ||||||||||
3.63%, 02/15/32(b) |
484 | 403,529 | ||||||||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 |
240 | 232,820 | ||||||||||
IRB Holding Corp., 7.00%, 06/15/25(b) |
794 | 797,970 | ||||||||||
Lindblad Expeditions Holdings, Inc., 9.00%, 05/15/28 |
1,313 | 1,332,207 | ||||||||||
Lottomatica SpA/Roma(c) 6.25%, 07/15/25 |
EUR | 249 | 275,785 | |||||||||
(3-mo. EURIBOR + 4.13%), 7.59%, 06/01/28(a) |
195 | 213,582 | ||||||||||
Melco Resorts Finance Ltd.(b) |
||||||||||||
4.88%, 06/06/25 |
USD | 1,071 | 1,010,970 | |||||||||
5.75%, 07/21/28 |
600 | 524,625 | ||||||||||
5.38%, 12/04/29 |
3,257 | 2,682,954 | ||||||||||
Merlin Entertainments Ltd., 5.75%, 06/15/26(b) |
1,386 | 1,335,748 | ||||||||||
MGM China Holdings Ltd.(b) |
||||||||||||
5.25%, 06/18/25 |
600 | 575,280 | ||||||||||
5.88%, 05/15/26 |
200 | 190,432 | ||||||||||
4.75%, 02/01/27 |
440 | 396,550 | ||||||||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29(b) |
1,247 | 1,101,161 | ||||||||||
Motion Bondco DAC, 6.63%, 11/15/27(b) |
450 | 411,937 | ||||||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., 5.63%, 09/01/29(b) |
1,188 | 899,851 | ||||||||||
Raptor Acquisition Corp./Raptor Co.-Issuer LLC, 4.88%, 11/01/26(b) |
973 | 917,052 | ||||||||||
Scientific Games Holdings LP/Scientific Games US FinCo, Inc., 6.63%, 03/01/30(b) |
378 | 332,640 | ||||||||||
Scientific Games International, Inc.(b) |
||||||||||||
8.63%, 07/01/25 |
1,054 | 1,076,396 | ||||||||||
7.00%, 05/15/28 |
706 | 702,231 | ||||||||||
7.25%, 11/15/29 |
241 | 241,301 | ||||||||||
Six Flags Entertainment Corp., 7.25%, 05/15/31(b) |
2,309 | 2,248,851 | ||||||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25(b) |
1,358 | 1,364,786 | ||||||||||
Station Casinos LLC, 4.63%, 12/01/31(b) |
3,720 | 3,134,100 | ||||||||||
Stonegate Pub Co. Financing PLC, 8.00%, 07/13/25(c) |
GBP | 159 | 182,969 | |||||||||
Vail Resorts, Inc., 6.25%, 05/15/25(b) |
USD | 811 | 811,969 | |||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27(b) |
1,353 | 1,281,633 | ||||||||||
Wynn Macau Ltd.(b) |
||||||||||||
5.50%, 01/15/26 |
400 | 370,750 | ||||||||||
5.63%, 08/26/28 |
3,847 | 3,318,037 | ||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.(b) |
||||||||||||
5.13%, 10/01/29 |
1,884 | 1,688,428 | ||||||||||
7.13%, 02/15/31 |
1,419 | 1,410,403 | ||||||||||
|
|
|||||||||||
86,123,339 | ||||||||||||
Household Durables — 1.1% | ||||||||||||
Ashton Woods USA LLC/Ashton Woods Finance Co.(b) |
||||||||||||
6.63%, 01/15/28 |
406 | 388,063 | ||||||||||
4.63%, 08/01/29 |
547 | 466,170 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
57 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Household Durables (continued) |
||||||||||||
Ashton Woods USA LLC/Ashton Woods Finance Co.(b) (continued) |
||||||||||||
4.63%, 04/01/30 |
USD | 636 | $ | 542,890 | ||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC(b) |
||||||||||||
5.00%, 06/15/29 |
1,154 | 924,041 | ||||||||||
4.88%, 02/15/30 |
1,424 | 1,117,110 | ||||||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25(b) |
1,328 | 1,229,313 | ||||||||||
Installed Building Products, Inc., 5.75%, 02/01/28(b) |
723 | 680,947 | ||||||||||
K Hovnanian Enterprises, Inc., 7.75%, 02/15/26(b) |
1,136 | 1,113,280 | ||||||||||
KB Home, 7.25%, 07/15/30 |
328 | 332,133 | ||||||||||
Mattamy Group Corp., 4.63%, 03/01/30(b) |
1,582 | 1,367,630 | ||||||||||
NCR Corp., 5.13%, 04/15/29(b) |
2,760 | 2,443,319 | ||||||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29(b) |
1,738 | 1,042,849 | ||||||||||
Taylor Morrison Communities, Inc., 5.88%, 06/15/27(b) |
1,431 | 1,405,514 | ||||||||||
Tempur Sealy International, Inc.(b) |
||||||||||||
4.00%, 04/15/29 |
19 | 16,448 | ||||||||||
3.88%, 10/15/31 |
1,724 | 1,404,462 | ||||||||||
|
|
|||||||||||
14,474,169 | ||||||||||||
Household Products — 0.0% | ||||||||||||
Central Garden & Pet Co. |
||||||||||||
5.13%, 02/01/28 |
280 | 263,042 | ||||||||||
4.13%, 10/15/30 |
349 | 292,356 | ||||||||||
|
|
|||||||||||
555,398 | ||||||||||||
Independent Power and Renewable Electricity Producers — 0.4% | ||||||||||||
Calpine Corp.(b) |
||||||||||||
5.25%, 06/01/26 |
136 | 131,335 | ||||||||||
5.13%, 03/15/28 |
300 | 267,721 | ||||||||||
4.63%, 02/01/29 |
2,297 | 1,937,938 | ||||||||||
Clearway Energy Operating LLC(b) |
||||||||||||
4.75%, 03/15/28 |
133 | 122,708 | ||||||||||
3.75%, 01/15/32 |
89 | 72,438 | ||||||||||
Cullinan Holdco Scsp, 4.63%, 10/15/26(c) |
EUR | 100 | 92,082 | |||||||||
NRG Energy, Inc. |
||||||||||||
5.75%, 01/15/28 |
USD | 234 | 221,750 | |||||||||
7.00%, 03/15/33(b) |
980 | 988,119 | ||||||||||
Talen Energy Supply LLC, 8.63%, 06/01/30 |
716 | 741,060 | ||||||||||
TransAlta Corp., 7.75%, 11/15/29 |
590 | 607,405 | ||||||||||
|
|
|||||||||||
5,182,556 | ||||||||||||
Industrial Conglomerates — 0.1% | ||||||||||||
Emerald Debt Merger Sub LLC, 6.38%, 12/15/30 |
EUR | 840 | 913,171 | |||||||||
|
|
|||||||||||
Insurance — 3.4% | ||||||||||||
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29(b) |
USD | 706 | 611,266 | |||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer(b) |
||||||||||||
4.25%, 10/15/27 |
2,522 | 2,263,225 | ||||||||||
6.75%, 10/15/27 |
12,437 | 11,690,780 | ||||||||||
6.75%, 04/15/28 |
3,067 | 3,041,662 | ||||||||||
5.88%, 11/01/29 |
6,180 | 5,376,106 | ||||||||||
AmWINS Group, Inc., 4.88%, 06/30/29(b) |
1,494 | 1,349,057 | ||||||||||
Ardonagh Midco 2 PLC, (11.50% Cash or 12.75% PIK), 11.50%, 01/15/27(b)(h) |
284 | 261,431 | ||||||||||
Galaxy Bidco Ltd., 6.50%, 07/31/26(c) |
GBP | 100 | 115,227 |
Security | Par (000) |
Value | ||||||||||
Insurance (continued) |
||||||||||||
GTCR AP Finance, Inc., 8.00%, 05/15/27(b) |
USD | 1,586 | $ | 1,554,664 | ||||||||
HUB International Ltd.(b) |
||||||||||||
7.00%, 05/01/26 |
6,921 | 6,902,694 | ||||||||||
7.25%, 06/15/30 |
7,599 | 7,846,727 | ||||||||||
Jones Deslauriers Insurance Management, Inc.(b) |
||||||||||||
8.50%, 03/15/30 |
2,698 | 2,752,527 | ||||||||||
10.50%, 12/15/30 |
1,397 | 1,401,300 | ||||||||||
Liberty Mutual Group, Inc., (5-year EUR Swap + 3.70%), 3.63%, 05/23/59(a)(c) |
EUR | 100 | 103,391 | |||||||||
Ryan Specialty Group LLC, 4.38%, 02/01/30(b) |
USD | 168 | 148,714 | |||||||||
|
|
|||||||||||
45,418,771 | ||||||||||||
Interactive Media & Services — 0.1% | ||||||||||||
Cablevision Lightpath LLC, 5.63%, 09/15/28(b) |
1,201 | 889,704 | ||||||||||
iliad SA(c) |
||||||||||||
5.38%, 06/14/27 |
EUR | 100 | 107,581 | |||||||||
5.63%, 02/15/30 |
100 | 105,465 | ||||||||||
United Group BV, 4.00%, 11/15/27(c) |
100 | 89,226 | ||||||||||
|
|
|||||||||||
1,191,976 | ||||||||||||
Internet Software & Services — 1.7% | ||||||||||||
ANGI Group LLC, 3.88%, 08/15/28(b) |
USD | 869 | 709,544 | |||||||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc., 3.50%, 03/01/29(b) |
298 | 255,339 | ||||||||||
Match Group Holdings II LLC(b) |
||||||||||||
4.63%, 06/01/28 |
2,149 | 1,974,071 | ||||||||||
5.63%, 02/15/29 |
2,261 | 2,119,934 | ||||||||||
4.13%, 08/01/30 |
872 | 746,868 | ||||||||||
3.63%, 10/01/31 |
464 | 381,380 | ||||||||||
Uber Technologies, Inc. |
||||||||||||
7.50%, 05/15/25(b) |
2,820 | 2,853,727 | ||||||||||
0.00%, 12/15/25(k)(l) |
1,757 | 1,602,431 | ||||||||||
8.00%, 11/01/26(b) |
2,453 | 2,499,882 | ||||||||||
7.50%, 09/15/27(b) |
2,568 | 2,626,687 | ||||||||||
6.25%, 01/15/28(b) |
1,356 | 1,349,301 | ||||||||||
4.50%, 08/15/29(b) |
5,966 | 5,491,095 | ||||||||||
|
|
|||||||||||
22,610,259 | ||||||||||||
IT Services — 2.3% | ||||||||||||
Ahead DB Holdings LLC, 6.63%, 05/01/28(b) |
886 | 720,557 | ||||||||||
Atos SE, 2.50%, 11/07/28(c) |
EUR | 100 | 80,274 | |||||||||
Banff Merger Sub, Inc., 8.38%, 09/01/26(c) |
100 | 104,438 | ||||||||||
Booz Allen Hamilton, Inc., 4.00%, 07/01/29(b) |
USD | 2,334 | 2,090,673 | |||||||||
CA Magnum Holdings, 5.38%, 10/31/26(b) |
2,652 | 2,368,660 | ||||||||||
Camelot Finance SA, 4.50%, 11/01/26(b) |
334 | 314,641 | ||||||||||
Dun & Bradstreet Corp., 5.00%, 12/15/29(b) |
5,191 | 4,577,061 | ||||||||||
Engineering - Ingegneria Informatica - SpA, 11.13%, 05/15/28(c) |
EUR | 100 | 109,456 | |||||||||
Gartner, Inc., 4.50%, 07/01/28(b) |
USD | 105 | 98,092 | |||||||||
KBR, Inc., 4.75%, 09/30/28(b) |
1,071 | 971,959 | ||||||||||
La Financiere Atalian SASU, 5.13%, 05/15/25(c) |
EUR | 100 | 74,872 | |||||||||
McAfee Corp., 7.38%, 02/15/30(b) |
USD | 7,292 | 6,340,557 | |||||||||
Presidio Holdings, Inc., 4.88%, 02/01/27(b) |
265 | 248,599 | ||||||||||
Science Applications International Corp., 4.88%, 04/01/28(b) |
1,024 | 952,357 | ||||||||||
Twilio, Inc. |
||||||||||||
3.63%, 03/15/29 |
4,541 | 3,863,259 | ||||||||||
3.88%, 03/15/31 |
2,101 | 1,749,324 | ||||||||||
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29(b) |
6,563 | 5,644,779 | ||||||||||
|
|
|||||||||||
30,309,558 |
58 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Leisure Products — 0.1% |
||||||||||||
Mattel, Inc. |
||||||||||||
6.20%, 10/01/40 |
USD | 169 | $ | 151,095 | ||||||||
5.45%, 11/01/41 |
727 | 602,704 | ||||||||||
|
|
|||||||||||
753,799 | ||||||||||||
Machinery — 1.7% | ||||||||||||
Chart Industries, Inc.(b) |
||||||||||||
7.50%, 01/01/30 |
3,372 | 3,440,300 | ||||||||||
9.50%, 01/01/31 |
502 | 532,629 | ||||||||||
GrafTech Global Enterprises, Inc., 9.88%, 12/15/28 |
1,500 | 1,488,750 | ||||||||||
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25(b)(h) |
1,662 | 1,512,420 | ||||||||||
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28(c) |
EUR | 100 | 95,480 | |||||||||
Loxam SAS, 6.38%, 05/15/28 |
115 | 124,021 | ||||||||||
Madison IAQ LLC, 5.88%, 06/30/29(b) |
USD | 1,905 | 1,542,876 | |||||||||
OT Merger Corp., 7.88%, 10/15/29(b) |
621 | 388,135 | ||||||||||
Renk AG/Frankfurt am Main, 5.75%, 07/15/25(c) |
EUR | 129 | 138,329 | |||||||||
Terex Corp., 5.00%, 05/15/29(b) |
USD | 1,766 | 1,641,814 | |||||||||
Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26(b) |
4,542 | 4,121,865 | ||||||||||
TK Elevator Holdco GmbH |
||||||||||||
6.63%, 07/15/28(c) |
EUR | 90 | 83,487 | |||||||||
7.63%, 07/15/28(b) |
USD | 2,645 | 2,399,239 | |||||||||
TK Elevator Midco GmbH, 4.38%, 07/15/27(c) |
EUR | 568 | 553,192 | |||||||||
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(b) |
USD | 4,635 | 4,282,149 | |||||||||
|
|
|||||||||||
22,344,686 | ||||||||||||
Marine Transportation — 0.0% | ||||||||||||
Huntington Ingalls Industries, Inc., 4.20%, 05/01/30 |
265 | 245,540 | ||||||||||
|
|
|||||||||||
Media — 11.5% | ||||||||||||
Altice Financing SA |
||||||||||||
2.25%, 01/15/25(c) |
EUR | 100 | 101,482 | |||||||||
5.00%, 01/15/28(b) |
USD | 3,307 | 2,642,834 | |||||||||
4.25%, 08/15/29(c) |
EUR | 101 | 84,345 | |||||||||
5.75%, 08/15/29(b) |
USD | 3,543 | 2,744,623 | |||||||||
Altice France Holding SA, 10.50%, 05/15/27(b) |
2,428 | 1,470,227 | ||||||||||
AMC Networks, Inc. |
||||||||||||
4.75%, 08/01/25 |
1,038 | 907,908 | ||||||||||
4.25%, 02/15/29 |
684 | 367,696 | ||||||||||
Block Communications, Inc., 4.88%, 03/01/28(b) |
495 | 409,613 | ||||||||||
Cable One, Inc. |
||||||||||||
0.00%, 03/15/26(k)(l) |
475 | 388,313 | ||||||||||
1.13%, 03/15/28(k) |
1,164 | 875,910 | ||||||||||
4.00%, 11/15/30(b) |
2,710 | 2,117,188 | ||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp.(b) |
||||||||||||
4.75%, 03/01/30 |
492 | 420,701 | ||||||||||
4.25%, 02/01/31 |
1,212 | 980,471 | ||||||||||
7.38%, 03/01/31 |
22,313 | 21,742,481 | ||||||||||
4.75%, 02/01/32 |
3,977 | 3,243,164 | ||||||||||
4.25%, 01/15/34 |
128 | 96,738 | ||||||||||
Clear Channel International BV, 6.63%, 08/01/25(b) |
1,965 | 1,955,152 | ||||||||||
Clear Channel Outdoor Holdings, Inc.(b) |
||||||||||||
5.13%, 08/15/27 |
3,195 | 2,900,718 | ||||||||||
7.50%, 06/01/29 |
9,625 | 7,122,272 | ||||||||||
CMG Media Corp., 8.88%, 12/15/27(b) |
1,482 | 1,038,654 |
Security | Par (000) |
Value | ||||||||||
Media (continued) |
||||||||||||
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26(b) |
USD | 9,224 | $ | 8,959,423 | ||||||||
CSC Holdings LLC |
||||||||||||
5.25%, 06/01/24 |
1,120 | 1,041,648 | ||||||||||
5.50%, 04/15/27(b) |
2,570 | 2,138,211 | ||||||||||
11.25%, 05/15/28(b) |
4,925 | 4,775,920 | ||||||||||
4.13%, 12/01/30(b) |
6,384 | 4,465,773 | ||||||||||
DISH DBS Corp., 5.75%, 12/01/28(b) |
5,230 | 3,889,988 | ||||||||||
DISH Network Corp., 11.75%, 11/15/27(b) |
3,434 | 3,351,279 | ||||||||||
Frontier Communications Holdings LLC(b) |
||||||||||||
5.00%, 05/01/28 |
345 | 297,670 | ||||||||||
8.75%, 05/15/30 |
12,473 | 12,190,783 | ||||||||||
GCI LLC, 4.75%, 10/15/28(b) |
498 | 424,595 | ||||||||||
Global Switch Holdings Ltd., 2.25%, 05/31/27(c) |
EUR | 106 | 107,203 | |||||||||
Iliad Holding SASU(b) |
||||||||||||
6.50%, 10/15/26 |
USD | 7,579 | 7,153,234 | |||||||||
7.00%, 10/15/28 |
3,741 | 3,447,871 | ||||||||||
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27(b) |
4,017 | 3,764,942 | ||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(b)(h) |
1,228 | 433,717 | ||||||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29(b) |
1,076 | 779,239 | ||||||||||
Live Nation Entertainment, Inc.(b) |
||||||||||||
5.63%, 03/15/26 |
104 | 101,588 | ||||||||||
6.50%, 05/15/27 |
8,159 | 8,202,430 | ||||||||||
4.75%, 10/15/27 |
3,015 | 2,811,488 | ||||||||||
3.75%, 01/15/28 |
799 | 713,108 | ||||||||||
Lorca Telecom Bondco SA, 4.00%, 09/18/27(c) |
EUR | 274 | 272,454 | |||||||||
Midcontinent Communications/Midcontinent Finance Corp., 5.38%, 08/15/27(b) |
USD | 972 | 910,482 | |||||||||
Odeon Finco PLC, 12.75%, 11/01/27(b) |
303 | 296,874 | ||||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp.(b) |
||||||||||||
5.00%, 08/15/27 |
1,625 | 1,475,013 | ||||||||||
4.25%, 01/15/29 |
1,148 | 964,733 | ||||||||||
4.63%, 03/15/30 |
1,362 | 1,134,689 | ||||||||||
Pinewood Finance Co. Ltd., 3.63%, 11/15/27(c) |
GBP | 100 | 110,490 | |||||||||
Radiate Holdco LLC/Radiate Finance, Inc., 6.50%, 09/15/28(b) |
USD | 4,185 | 2,442,220 | |||||||||
RCS & RDS SA, 2.50%, 02/05/25(c) |
EUR | 100 | 103,716 | |||||||||
Sable International Finance Ltd., 5.75%, 09/07/27(b) |
USD | 539 | 495,492 | |||||||||
SES SA, (5-year EUR Swap + 5.40%), 5.63%(a)(c)(j) |
EUR | 100 | 107,920 | |||||||||
Sinclair Television Group, Inc., 4.13%, 12/01/30(b) |
USD | 2,989 | 1,957,795 | |||||||||
Sirius XM Radio, Inc., 5.00%, 08/01/27(b) |
6,532 | 6,060,324 | ||||||||||
Stagwell Global LLC, 5.63%, 08/15/29(b) |
553 | 473,220 | ||||||||||
Summer BC Holdco B SARL, 5.75%, 10/31/26(c) |
EUR | 100 | 96,980 | |||||||||
Summer BidCo BV, (9.00% Cash or 9.75% PIK), 9.00%, 11/15/25(c)(h) |
174 | 159,041 | ||||||||||
TEGNA, Inc., 4.75%, 03/15/26(b) |
USD | 240 | 229,153 | |||||||||
Tele Columbus AG, 3.88%, 05/02/25(c) |
EUR | 185 | 135,254 | |||||||||
Telenet Finance Luxembourg Notes SARL, |
||||||||||||
5.50%, 03/01/28(b) |
USD | 2,000 | 1,834,000 | |||||||||
Univision Communications, Inc.(b) |
||||||||||||
6.63%, 06/01/27 |
1,630 | 1,575,475 | ||||||||||
7.38%, 06/30/30 |
892 | 849,289 | ||||||||||
UPC Broadband Finco BV, 4.88%, 07/15/31(b) |
1,894 | 1,558,932 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
59 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
|
||||||||||||
Media (continued) | ||||||||||||
Virgin Media Secured Finance PLC, 5.00%, 04/15/27(c) |
GBP | 142 | $ | 163,311 | ||||||||
Virgin Media Vendor Financing Notes III DAC, 4.88%, 07/15/28(c) |
100 | 100,441 | ||||||||||
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28(b) |
USD | 2,360 | 2,064,369 | |||||||||
VZ Secured Financing BV, 3.50%, 01/15/32(c) |
EUR | 170 | 142,601 | |||||||||
Warnermedia Holdings, Inc. |
||||||||||||
5.14%, 03/15/52 |
USD | 4,489 | 3,655,159 | |||||||||
5.39%, 03/15/62 |
2,348 | 1,913,552 | ||||||||||
Ziggo Bond Co. BV(b) |
||||||||||||
6.00%, 01/15/27 |
291 | 267,086 | ||||||||||
5.13%, 02/28/30 |
868 | 657,276 | ||||||||||
Ziggo BV, 4.88%, 01/15/30(b) |
1,165 | 966,868 | ||||||||||
|
|
|||||||||||
153,834,809 | ||||||||||||
Metals & Mining — 3.8% | ||||||||||||
Arconic Corp.(b) |
||||||||||||
6.00%, 05/15/25 |
1,484 | 1,495,802 | ||||||||||
6.13%, 02/15/28 |
3,194 | 3,233,618 | ||||||||||
ATI, Inc. |
||||||||||||
5.88%, 12/01/27 |
1,060 | 1,025,833 | ||||||||||
4.88%, 10/01/29 |
550 | 495,104 | ||||||||||
5.13%, 10/01/31 |
1,063 | 947,038 | ||||||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29(b) |
6,251 | 6,174,825 | ||||||||||
Carpenter Technology Corp. |
||||||||||||
6.38%, 07/15/28 |
379 | 371,420 | ||||||||||
7.63%, 03/15/30 |
1,152 | 1,165,019 | ||||||||||
Constellium SE |
||||||||||||
4.25%, 02/15/26(c) |
EUR | 394 | 419,219 | |||||||||
5.63%, 06/15/28(b) |
USD | 4,620 | 4,347,087 | |||||||||
3.75%, 04/15/29(b) |
5,957 | 5,067,959 | ||||||||||
ERO Copper Corp., 6.50%, 02/15/30(b) |
1,008 | 867,122 | ||||||||||
First Quantum Minerals Ltd., 8.63%, 06/01/31(b) |
1,764 | 1,799,280 | ||||||||||
Kaiser Aluminum Corp.(b) |
||||||||||||
4.63%, 03/01/28 |
5,292 | 4,628,172 | ||||||||||
4.50%, 06/01/31 |
2,662 | 2,122,093 | ||||||||||
New Gold, Inc., 7.50%, 07/15/27(b) |
2,345 | 2,189,714 | ||||||||||
Novelis Corp.(b) |
||||||||||||
3.25%, 11/15/26 |
1,542 | 1,395,769 | ||||||||||
4.75%, 01/30/30 |
7,524 | 6,686,631 | ||||||||||
3.88%, 08/15/31 |
6,036 | 4,965,284 | ||||||||||
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29(c) |
EUR | 1,029 | 983,130 | |||||||||
Vedanta Resources Finance II PLC, 8.95%, 03/11/25(b) |
USD | 577 | 435,456 | |||||||||
|
|
|||||||||||
50,815,575 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.0% | ||||||||||||
Starwood Property Trust, Inc., 5.50%, 11/01/23(b) |
157 | 155,643 | ||||||||||
|
|
|||||||||||
Multi-Utilities — 0.1% | ||||||||||||
AmeriGas Partners LP/AmeriGas Finance Corp., 9.38%, 06/01/28(b) |
1,438 | 1,460,461 | ||||||||||
UGI International LLC, 2.50%, 12/01/29(c) |
EUR | 100 | 85,435 | |||||||||
|
|
|||||||||||
1,545,896 |
Security | Par (000) |
Value | ||||||
|
||||||||
Offshore Drilling & Other Services(b) — 0.6% | ||||||||
Entegris Escrow Corp., 4.75%, 04/15/29 |
USD | 8,811 | $ | 8,179,481 | ||||
Entegris, Inc., 4.38%, 04/15/28 |
511 | 462,445 | ||||||
|
|
|||||||
8,641,926 | ||||||||
Oil, Gas & Consumable Fuels — 16.8% | ||||||||
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26(b) |
3,920 | 3,851,400 | ||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.75%, 03/01/27(b) |
2,034 | 1,961,664 | ||||||
Antero Resources Corp., 7.63%, 02/01/29(b) |
410 | 415,992 | ||||||
Apache Corp. |
||||||||
5.10%, 09/01/40 |
171 | 138,938 | ||||||
5.35%, 07/01/49 |
305 | 237,138 | ||||||
Arcosa, Inc., 4.38%, 04/15/29(b) |
1,988 | 1,781,253 | ||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp.(b) |
||||||||
9.00%, 11/01/27 |
4,668 | 5,803,351 | ||||||
8.25%, 12/31/28 |
4,696 | 4,618,066 | ||||||
5.88%, 06/30/29 |
1,814 | 1,618,344 | ||||||
Baytex Energy Corp., 8.50%, 04/30/30 |
756 | 738,287 | ||||||
Buckeye Partners LP |
||||||||
4.13%, 03/01/25(b) |
34 | 32,300 | ||||||
5.85%, 11/15/43 |
816 | 603,840 | ||||||
5.60%, 10/15/44 |
553 | 398,160 | ||||||
Callon Petroleum Co. |
||||||||
8.25%, 07/15/25 |
279 | 276,908 | ||||||
6.38%, 07/01/26 |
929 | 904,282 | ||||||
8.00%, 08/01/28(b) |
4,799 | 4,745,775 | ||||||
7.50%, 06/15/30(b) |
4,240 | 4,002,018 | ||||||
Cellnex Finance Co. SA(c) |
||||||||
1.00%, 09/15/27 |
EUR | 100 | 93,714 | |||||
2.00%, 09/15/32 |
100 | 85,676 | ||||||
2.00%, 02/15/33 |
100 | 84,730 | ||||||
Cellnex Telecom SA(c) |
||||||||
1.75%, 10/23/30 |
100 | 87,927 | ||||||
Series CLNX, 0.75%, 11/20/31(k) |
200 | 174,055 | ||||||
Cheniere Energy Partners LP, 4.50%, 10/01/29 |
USD | 1,502 | 1,378,470 | |||||
Chesapeake Energy Corp., 6.75%, 04/15/29(b) |
2,403 | 2,384,342 | ||||||
CITGO Petroleum Corp., 7.00%, 06/15/25(b) |
2,745 | 2,693,531 | ||||||
Civitas Resources, Inc.(b) |
||||||||
5.00%, 10/15/26 |
194 | 182,917 | ||||||
8.38%, 07/01/28 |
4,068 | 4,113,968 | ||||||
8.75%, 07/01/31 |
3,369 | 3,415,492 | ||||||
CNX Midstream Partners LP, 4.75%, 04/15/30(b) |
520 | 441,057 | ||||||
CNX Resources Corp., 7.38%, 01/15/31(b) |
473 | 460,200 | ||||||
Comstock Resources, Inc.(b) |
||||||||
6.75%, 03/01/29 |
3,944 | 3,608,550 | ||||||
5.88%, 01/15/30 |
1,377 | 1,195,471 | ||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31(b) |
7,398 | 6,598,369 | ||||||
Crescent Energy Finance LLC(b) |
||||||||
7.25%, 05/01/26 |
5,449 | 5,113,941 | ||||||
9.25%, 02/15/28 |
1,363 | 1,322,437 | ||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.(b) |
||||||||
6.00%, 02/01/29 |
1,687 | 1,575,236 | ||||||
8.00%, 04/01/29 |
265 | 268,289 | ||||||
7.38%, 02/01/31 |
921 | 907,785 |
60 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
CrownRock LP/CrownRock Finance, Inc.(b) |
||||||||
5.63%, 10/15/25 |
USD | 3,586 | $ | 3,532,927 | ||||
5.00%, 05/01/29 |
240 | 224,700 | ||||||
DCP Midstream Operating LP(b) |
||||||||
6.45%, 11/03/36 |
920 | 944,699 | ||||||
6.75%, 09/15/37 |
2,031 | 2,155,460 | ||||||
Diamondback Energy, Inc., 6.25%, 03/15/33 |
2,505 | 2,591,342 | ||||||
DT Midstream, Inc., 4.13%, 06/15/29(b) |
4,234 | 3,715,653 | ||||||
Dycom Industries, Inc., 4.50%, 04/15/29(b) |
90 | 81,738 | ||||||
Earthstone Energy Holdings LLC |
||||||||
8.00%, 04/15/27(b) |
1,407 | 1,358,895 | ||||||
9.88%, 07/15/31 |
1,724 | 1,704,088 | ||||||
eG Global Finance PLC(b) |
||||||||
6.75%, 02/07/25 |
1,158 | 1,124,708 | ||||||
8.50%, 10/30/25 |
1,586 | 1,538,843 | ||||||
Energy Transfer LP |
||||||||
5.30%, 04/15/47 |
626 | 544,476 | ||||||
Series H, (5-year CMT + 5.69%), 6.50%(a)(j) |
2,326 | 2,112,752 | ||||||
EnLink Midstream LLC |
||||||||
5.63%, 01/15/28(b) |
1,459 | 1,411,850 | ||||||
5.38%, 06/01/29 |
835 | 795,514 | ||||||
6.50%, 09/01/30(b) |
3,529 | 3,524,701 | ||||||
EnLink Midstream Partners LP |
||||||||
5.60%, 04/01/44 |
1,433 | 1,199,743 | ||||||
5.45%, 06/01/47 |
246 | 202,213 | ||||||
EnQuest PLC, 11.63%, 11/01/27(b) |
200 | 181,000 | ||||||
EQM Midstream Partners LP |
||||||||
6.00%, 07/01/25(b) |
634 | 627,000 | ||||||
4.13%, 12/01/26 |
361 | 335,742 | ||||||
6.50%, 07/01/27(b) |
1,843 | 1,817,698 | ||||||
7.50%, 06/01/30(b) |
1,558 | 1,576,612 | ||||||
FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/27(b) |
540 | 530,336 | ||||||
Genesis Energy LP/Genesis Energy Finance Corp. |
||||||||
6.50%, 10/01/25 |
667 | 656,858 | ||||||
7.75%, 02/01/28 |
477 | 453,689 | ||||||
8.88%, 04/15/30 |
849 | 829,468 | ||||||
Gulfport Energy Corp., 8.00%, 05/17/26(b) |
152 | 152,714 | ||||||
Harbour Energy PLC, 5.50%, 10/15/26(b) |
420 | 384,851 | ||||||
Harvest Midstream I LP, 7.50%, 09/01/28(b) |
315 | 312,304 | ||||||
Hess Midstream Operations LP, 4.25%, 02/15/30(b) |
1,313 | 1,145,593 | ||||||
Hilcorp Energy I LP/Hilcorp Finance Co.(b) |
||||||||
6.25%, 11/01/28 |
514 | 483,830 | ||||||
5.75%, 02/01/29 |
1,157 | 1,047,650 | ||||||
6.00%, 04/15/30 |
130 | 118,375 | ||||||
Infrastrutture Wireless Italiane SpA, 1.63%, 10/21/28(c) |
EUR | 200 | 191,212 | |||||
ITT Holdings LLC, 6.50%, 08/01/29(b) |
USD | 1,889 | 1,591,445 | |||||
Kinetik Holdings LP, 5.88%, 06/15/30(b) |
2,333 | 2,217,493 | ||||||
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26(b) |
135 | 130,567 | ||||||
Matador Resources Co. |
||||||||
5.88%, 09/15/26 |
2,078 | 2,013,676 | ||||||
6.88%, 04/15/28 |
3,215 | 3,182,185 | ||||||
Murphy Oil Corp. |
||||||||
5.75%, 08/15/25 |
129 | 127,310 | ||||||
5.88%, 12/01/42 |
141 | 117,173 | ||||||
Nabors Industries Ltd.(b) |
||||||||
7.25%, 01/15/26 |
596 | 556,378 |
Security | Par (000) |
Value | ||||||
|
||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Nabors Industries Ltd.(b) (continued) |
||||||||
7.50%, 01/15/28 |
USD | 1,749 | $ | 1,530,480 | ||||
Nabors Industries, Inc. |
||||||||
5.75%, 02/01/25 |
4,816 | 4,660,540 | ||||||
7.38%, 05/15/27(b) |
2,672 | 2,542,488 | ||||||
Neptune Energy Bondco PLC, 6.63%, 05/15/25(b) |
200 | 199,646 | ||||||
New Fortress Energy, Inc.(b) |
||||||||
6.75%, 09/15/25 |
6,575 | 6,167,580 | ||||||
6.50%, 09/30/26 |
5,475 | 4,898,462 | ||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26(b) |
1,331 | 1,310,864 | ||||||
NGPL PipeCo LLC, 7.77%, 12/15/37(b) |
1,640 | 1,748,281 | ||||||
Northern Oil and Gas, Inc. |
||||||||
8.13%, 03/01/28(b) |
6,436 | 6,307,280 | ||||||
8.75%, 06/15/31 |
1,719 | 1,688,918 | ||||||
NuStar Logistics LP, 6.00%, 06/01/26 |
1,631 | 1,588,770 | ||||||
Occidental Petroleum Corp. |
||||||||
6.45%, 09/15/36 |
822 | 843,618 | ||||||
6.20%, 03/15/40 |
1,963 | 1,934,713 | ||||||
4.63%, 06/15/45 |
100 | 77,370 | ||||||
ONEOK, Inc., 4.95%, 07/13/47 |
625 | 515,032 | ||||||
PDC Energy, Inc. |
||||||||
6.13%, 09/15/24 |
356 | 355,820 | ||||||
5.75%, 05/15/26 |
134 | 133,464 | ||||||
Permian Resources Operating LLC(b) |
||||||||
7.75%, 02/15/26 |
1,419 | 1,425,036 | ||||||
6.88%, 04/01/27 |
1,827 | 1,799,595 | ||||||
5.88%, 07/01/29 |
2,147 | 2,022,497 | ||||||
Plains All American Pipeline LP/PAA Finance Corp., 5.15%, 06/01/42 |
604 | 501,119 | ||||||
Precision Drilling Corp., 6.88%, 01/15/29(b) |
76 | 68,667 | ||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29(b) |
530 | 488,901 | ||||||
Rockies Express Pipeline LLC, 4.95%, 07/15/29(b) |
452 | 413,580 | ||||||
SM Energy Co. |
||||||||
5.63%, 06/01/25 |
933 | 911,718 | ||||||
6.75%, 09/15/26 |
2,755 | 2,685,324 | ||||||
6.63%, 01/15/27 |
85 | 82,556 | ||||||
6.50%, 07/15/28 |
855 | 820,800 | ||||||
Southwestern Energy Co. |
||||||||
5.38%, 02/01/29 |
800 | 753,331 | ||||||
4.75%, 02/01/32 |
2,256 | 1,988,295 | ||||||
Sunoco LP/Sunoco Finance Corp. |
||||||||
6.00%, 04/15/27 |
238 | 234,488 | ||||||
5.88%, 03/15/28 |
352 | 338,492 | ||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.(b) |
||||||||
7.50%, 10/01/25 |
74 | 73,858 | ||||||
5.50%, 01/15/28 |
1,520 | 1,389,253 | ||||||
6.00%, 12/31/30 |
171 | 150,651 | ||||||
6.00%, 09/01/31 |
686 | 590,257 | ||||||
Tap Rock Resources LLC, 7.00%, 10/01/26(b) |
6,903 | 7,110,090 | ||||||
Targa Resources Corp., 6.25%, 07/01/52 |
642 | 627,547 | ||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp., 4.00%, 01/15/32 |
621 | 536,811 | ||||||
Transocean Titan Financing Ltd., 8.38%, 02/01/28(b) |
947 | 967,124 | ||||||
Transocean, Inc.(b) |
||||||||
7.50%, 01/15/26 |
1,355 | 1,287,250 | ||||||
11.50%, 01/30/27 |
1,179 | 1,221,739 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
61 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Transocean, Inc.(b) (continued) |
||||||||
8.75%, 02/15/30 |
USD | 4,552 | $ | 4,620,280 | ||||
Vantage Drilling International, 9.50%, 02/15/28(b) |
2,353 | 2,310,340 | ||||||
Venture Global Calcasieu Pass LLC(b) |
||||||||
3.88%, 08/15/29 |
4,589 | 4,008,907 | ||||||
4.13%, 08/15/31 |
34 | 29,239 | ||||||
3.88%, 11/01/33 |
7,564 | 6,194,052 | ||||||
Venture Global LNG, Inc.(b) |
||||||||
8.13%, 06/01/28 |
6,959 | 7,067,802 | ||||||
8.38%, 06/01/31 |
10,557 | 10,643,223 | ||||||
Vermilion Energy, Inc., 6.88%, 05/01/30(b) |
807 | 743,804 | ||||||
Western Midstream Operating LP |
||||||||
6.15%, 04/01/33 |
350 | 352,762 | ||||||
5.45%, 04/01/44 |
1,001 | 845,621 | ||||||
5.30%, 03/01/48 |
1,851 | 1,545,077 | ||||||
5.50%, 08/15/48 |
703 | 587,892 | ||||||
5.50%, 02/01/50 |
3,466 | 2,838,897 | ||||||
|
|
|||||||
224,639,535 | ||||||||
Passenger Airlines — 2.2% | ||||||||
Air France-KLM, 8.13%, 05/31/28(c) |
EUR | 100 | 112,803 | |||||
Allegiant Travel Co., 7.25%, 08/15/27(b) |
USD | 553 | 550,959 | |||||
American Airlines, Inc.(b) |
||||||||
11.75%, 07/15/25 |
7,195 | 7,889,519 | ||||||
7.25%, 02/15/28 |
345 | 342,945 | ||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(b) |
||||||||
5.50%, 04/20/26 |
659 | 652,584 | ||||||
5.75%, 04/20/29 |
4,463 | 4,333,295 | ||||||
Deutsche Lufthansa AG, 3.50%, 07/14/29(c) |
EUR | 100 | 98,724 | |||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26(b) |
USD | 1,196 | 1,132,059 | |||||
International Consolidated Airlines Group SA, 3.75%, 03/25/29(c) |
EUR | 100 | 95,071 | |||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(b) |
USD | 3,195 | 3,203,693 | |||||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25(b) |
1,166 | 1,174,715 | ||||||
United Airlines Pass-Through Trust |
||||||||
Series 2020-1, Class A, 5.88%, 04/15/29 |
2,421 | 2,400,452 | ||||||
Series 2020-1, Class B, 4.88%, 07/15/27 |
192 | 183,064 | ||||||
United Airlines, Inc.(b) |
||||||||
4.38%, 04/15/26 |
215 | 204,273 | ||||||
4.63%, 04/15/29 |
6,123 | 5,579,081 | ||||||
VistaJet Malta Finance PLC/Vista Management Holding, Inc.(b) |
||||||||
7.88%, 05/01/27 |
700 | 628,915 | ||||||
6.38%, 02/01/30 |
862 | 694,110 | ||||||
|
|
|||||||
29,276,262 | ||||||||
Personal Care Products — 0.0% | ||||||||
Coty, Inc., 3.88%, 04/15/26(c) |
EUR | 106 | 111,908 | |||||
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC, 4.75%, 01/15/29(b) |
USD | 83 | 76,526 | |||||
|
|
|||||||
188,434 |
Security | Par (000) |
Value | ||||||
|
||||||||
Pharmaceuticals — 0.9% | ||||||||
Bayer AG, (5-year EUR Swap + 3.75%), 4.50%, 03/25/82(a)(c) |
EUR | 300 | $ | 308,704 | ||||
Cheplapharm Arzneimittel GmbH, 5.50%, 01/15/28(b) |
USD | 743 | 672,415 | |||||
Gruenenthal GmbH, 4.13%, 05/15/28(c) |
EUR | 117 | 118,135 | |||||
Option Care Health, Inc., 4.38%, 10/31/29(b) |
USD | 1,054 | 927,687 | |||||
Organon & Co./Organon Foreign Debt Co-Issuer BV(b) |
||||||||
4.13%, 04/30/28 |
400 | 355,012 | ||||||
5.13%, 04/30/31 |
2,127 | 1,754,827 | ||||||
Rossini SARL, 6.75%, 10/30/25(c) |
EUR | 101 | 110,903 | |||||
Teva Pharmaceutical Finance Netherlands II BV |
||||||||
3.75%, 05/09/27 |
100 | 98,402 | ||||||
7.38%, 09/15/29 |
192 | 213,749 | ||||||
7.88%, 09/15/31 |
100 | 112,750 | ||||||
Teva Pharmaceutical Finance Netherlands III BV |
||||||||
3.15%, 10/01/26 |
USD | 4,163 | 3,707,672 | |||||
4.75%, 05/09/27 |
513 | 471,388 | ||||||
6.75%, 03/01/28 |
531 | 520,863 | ||||||
7.88%, 09/15/29 |
1,670 | 1,713,570 | ||||||
8.13%, 09/15/31 |
912 | 950,076 | ||||||
|
|
|||||||
12,036,153 | ||||||||
Real Estate — 0.2% | ||||||||
VICI Properties LP, 5.63%, 05/15/52 |
2,051 | 1,827,031 | ||||||
VICI Properties LP/VICI Note Co., Inc., 4.50%, 01/15/28(b) |
323 | 296,771 | ||||||
|
|
|||||||
2,123,802 | ||||||||
Real Estate Management & Development — 0.4% | ||||||||
Adler Financing SARL, 12.50%, 06/30/25 |
EUR | 120 | 133,825 | |||||
Agps Bondco PLC(c)(f)(i) |
||||||||
6.00%, 08/05/25 |
200 | 93,861 | ||||||
5.50%, 11/13/26 |
200 | 82,931 | ||||||
Aroundtown SA, (5-year GBP Swap + 4.38%), 4.75%(a)(c)(j) |
GBP | 215 | 95,567 | |||||
Cushman & Wakefield U.S. Borrower LLC, 6.75%, 05/15/28(b) |
USD | 1,451 | 1,313,155 | |||||
DEMIRE Deutsche Mittelstand Real Estate AG, 1.88%, 10/15/24(c) |
EUR | 100 | 80,749 | |||||
Heimstaden Bostad AB, (5-year EUR Swap + 3.15%), 2.63%(a)(c)(j) |
375 | 189,542 | ||||||
Howard Hughes Corp., 4.38%, 02/01/31(b) |
USD | 2,347 | 1,873,000 | |||||
Realogy Group LLC/Realogy Co.-Issuer Corp., 5.25%, 04/15/30(b) |
2,339 | 1,662,291 | ||||||
Starwood Property Trust, Inc., 4.38%, 01/15/27(b) |
334 | 287,657 | ||||||
|
|
|||||||
5,812,578 | ||||||||
Semiconductors & Semiconductor Equipment(b) — 0.4% | ||||||||
Sensata Technologies BV, 5.88%, 09/01/30 |
1,209 | 1,175,493 | ||||||
Sensata Technologies, Inc., 4.38%, 02/15/30 |
3,077 | 2,751,599 | ||||||
Synaptics, Inc., 4.00%, 06/15/29 |
1,613 | 1,352,285 | ||||||
|
|
|||||||
5,279,377 | ||||||||
Software — 4.3% | ||||||||
Alteryx, Inc., 8.75%, 03/15/28(b) |
1,309 | 1,285,811 | ||||||
Boxer Parent Co., Inc. |
||||||||
6.50%, 10/02/25(c) |
EUR | 173 | 186,165 | |||||
7.13%, 10/02/25(b) |
USD | 3,099 | 3,101,743 | |||||
9.13%, 03/01/26(b) |
4,443 | 4,420,785 | ||||||
Capstone Borrower, Inc., 8.00%, 06/15/30 |
1,656 | 1,635,317 |
62 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Software (continued) | ||||||||
Central Parent, Inc./CDK Global, Inc., 7.25%, 06/15/29(b) |
USD | 5,945 | $ | 5,878,360 | ||||
Cloud Software Group, Inc. |
||||||||
6.50%, 03/31/29(b) |
17,659 | 15,723,235 | ||||||
9.00%, 09/30/29 |
7,891 | 6,892,271 | ||||||
Consensus Cloud Solutions, Inc.(b) |
||||||||
6.00%, 10/15/26 |
386 | 350,295 | ||||||
6.50%, 10/15/28 |
475 | 406,125 | ||||||
Crowdstrike Holdings, Inc., 3.00%, 02/15/29 |
138 | 119,002 | ||||||
Elastic NV, 4.13%, 07/15/29(b) |
3,665 | 3,161,702 | ||||||
Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 4.63%, 05/01/28(b) |
400 | 340,000 | ||||||
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32(b) |
526 | 454,056 | ||||||
MicroStrategy, Inc., 6.13%, 06/15/28(b) |
2,441 | 2,188,588 | ||||||
Open Text Corp., 6.90%, 12/01/27(b) |
4,576 | 4,658,505 | ||||||
SS&C Technologies, Inc., 5.50%, 09/30/27(b) |
6,271 | 6,003,403 | ||||||
Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25(b) |
165 | 133,884 | ||||||
|
|
|||||||
56,939,247 | ||||||||
Specialized REITs — 0.4% | ||||||||
Iron Mountain, Inc., 7.00%, 02/15/29 |
3,092 | 3,097,201 | ||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 10.50%, 02/15/28(b) |
2,647 | 2,625,992 | ||||||
|
|
|||||||
5,723,193 | ||||||||
Specialty Retail — 0.4% | ||||||||
Arko Corp., 5.13%, 11/15/29(b) |
981 | 797,229 | ||||||
Goldstory SASU, 5.38%, 03/01/26(c) |
EUR | 100 | 104,799 | |||||
PetSmart, Inc./PetSmart Finance Corp., 7.75%, 02/15/29(b) |
USD | 3,269 | 3,248,007 | |||||
Staples, Inc., 7.50%, 04/15/26(b) |
1,051 | 868,035 | ||||||
|
|
|||||||
5,018,070 | ||||||||
Technology Hardware, Storage & Peripherals(b) — 0.5% | ||||||||
Coherent Corp., 5.00%, 12/15/29 |
1,682 | 1,518,190 | ||||||
Seagate HDD Cayman |
||||||||
8.25%, 12/15/29 |
1,902 | 1,986,582 | ||||||
8.50%, 07/15/31 |
2,409 | 2,526,294 | ||||||
|
|
|||||||
6,031,066 | ||||||||
Textiles, Apparel & Luxury Goods — 0.2% | ||||||||
Crocs, Inc.(b) |
||||||||
4.25%, 03/15/29 |
217 | 184,493 | ||||||
4.13%, 08/15/31 |
282 | 227,715 | ||||||
European TopSoho SARL, Series SMCP, 4.00%, 09/21/21(c)(f)(i)(k) |
EUR | 200 | 189,022 | |||||
Hanesbrands, Inc.(b) |
||||||||
4.88%, 05/15/26 |
USD | 521 | 486,372 | |||||
9.00%, 02/15/31 |
1,541 | 1,553,122 | ||||||
Kontoor Brands, Inc., 4.13%, 11/15/29(b) |
525 | 438,395 | ||||||
Levi Strauss & Co., 3.50%, 03/01/31(b) |
318 | 263,145 | ||||||
|
|
|||||||
3,342,264 | ||||||||
Transportation Infrastructure — 0.1% | ||||||||
Azzurra Aeroporti SpA, 2.13%, 05/30/24(c) |
EUR | 288 | 303,861 | |||||
Gatwick Airport Finance PLC, 4.38%, 04/07/26(c) |
GBP | 100 | 115,034 | |||||
XPO Escrow Sub LLC, 7.50%, 11/15/27(b) |
USD | 412 | 420,994 | |||||
|
|
|||||||
839,889 | ||||||||
Wireless Telecommunication Services — 1.4% | ||||||||
Altice France SA/France |
||||||||
2.13%, 02/15/25(c) |
EUR | 200 | 199,962 |
Security | Par (000) |
Value | ||||||
|
||||||||
Wireless Telecommunication Services (continued) | ||||||||
Altice France SA/France (continued) |
||||||||
5.88%, 02/01/27(c) |
EUR | 100 | $ | 90,570 | ||||
8.13%, 02/01/27(b) |
USD | 4,519 | 3,913,100 | |||||
5.13%, 01/15/29(b) |
1,181 | 841,931 | ||||||
5.50%, 10/15/29(b) |
1,541 | 1,102,034 | ||||||
Cellnex Finance Co. SA, 1.50%, 06/08/28(c) |
EUR | 100 | 93,148 | |||||
Eutelsat SA, 1.50%, 10/13/28(c) |
200 | 160,227 | ||||||
Liberty Costa Rica Senior Secured Finance, 10.88%, 01/15/31(b) |
USD | 643 | 635,207 | |||||
SBA Communications Corp. |
||||||||
3.13%, 02/01/29 |
3,693 | 3,130,390 | ||||||
3.88%, 02/15/27 |
87 | 80,145 | ||||||
VICI Properties LP/VICI Note Co., Inc.(b) |
||||||||
5.63%, 05/01/24 |
300 | 298,151 | ||||||
3.50%, 02/15/25 |
401 | 383,156 | ||||||
4.25%, 12/01/26 |
425 | 397,580 | ||||||
4.63%, 12/01/29 |
3,379 | 3,067,693 | ||||||
4.13%, 08/15/30 |
1,219 | 1,073,244 | ||||||
Vmed O2 U.K. Financing I PLC |
||||||||
4.00%, 01/31/29(c) |
GBP | 200 | 200,761 | |||||
4.25%, 01/31/31(b) |
USD | 3,172 | 2,564,747 | |||||
4.50%, 07/15/31(c) |
GBP | 201 | 193,012 | |||||
4.75%, 07/15/31(b) |
USD | 324 | 269,406 | |||||
Vodafone Group PLC(a)(c) |
||||||||
(5-year EUR Swap + 3.48%), 3.00%, 08/27/80 |
EUR | 100 | 87,845 | |||||
(5-year EUR Swap + 3.49%), 6.50%, 08/30/84 |
100 | 109,634 | ||||||
|
|
|||||||
18,891,943 | ||||||||
|
|
|||||||
Total Corporate Bonds — 120.9% (Cost: $1,672,633,188) |
|
1,619,462,612 | ||||||
|
|
|||||||
Floating Rate Loan Interests(a) |
||||||||
Aerospace & Defense — 0.4% | ||||||||
Peraton Corp. |
||||||||
2nd Lien Term Loan B1, (3-mo. CME Term SOFR at 0.75% Floor + 7.75%), 12.98%, 02/01/29 |
USD | 2,790 | 2,699,416 | |||||
Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.95%, 02/01/28 |
2,888 | 2,831,386 | ||||||
|
|
|||||||
5,530,802 | ||||||||
Beverages — 0.0% | ||||||||
Naked Juice LLC, 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.06%, 01/24/30 |
156 | 122,850 | ||||||
|
|
|||||||
Broadline Retail — 0.1% | ||||||||
PUG LLC, USD Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.72%, 02/12/27 |
1,075 | 952,678 | ||||||
|
|
|||||||
Capital Markets — 0.1% | ||||||||
Ascensus Holdings, Inc., 2021 2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 6.50%), 11.69%, 08/02/29 |
994 | 884,723 | ||||||
|
|
|||||||
Chemicals — 0.7% | ||||||||
Arc Falcon I, Inc. |
||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 7.00%), 12.20%, 09/30/29 |
2,814 | 2,405,970 | ||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 09/30/28 |
1,005 | 936,100 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
63 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Chemicals (continued) | ||||||||
Aruba Investments Holdings LLC, 2020 2nd Lien Term Loan, (1-mo. LIBOR US at 0.75% Floor + 7.75%), 12.94%, 11/24/28 |
USD | 443 | $ | 389,928 | ||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 9.99%, 08/27/26 |
229 | 223,654 | ||||||
Discovery Purchaser Corp., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.38%), 9.62%, 10/04/29 |
2,501 | 2,388,090 | ||||||
Momentive Performance Materials USA LLC, 2023 Term Loan, (1-mo. CME Term SOFR + 4.50%), 9.60%, 03/29/28 |
1,172 | 1,143,663 | ||||||
Nouryon USA LLC, 2023 USD Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.32%, 04/03/28 |
1,251 | 1,237,314 | ||||||
W.R. Grace Holdings LLC, 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.75%), 9.31%, 09/22/28 |
481 | 477,145 | ||||||
|
|
|||||||
9,201,864 | ||||||||
Commercial Services & Supplies — 0.3% | ||||||||
Amentum Government Services Holdings LLC, Term Loan B, (1-mo. CME Term SOFR + 4.00%), 9.22%, 01/29/27(g) |
358 | 351,666 | ||||||
Garda World Security Corp., 2022 Term Loan B, 02/01/29(m)(n) |
819 | 809,016 | ||||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.10%), 10.20%, 10/29/28 |
972 | 961,698 | ||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 4.25%), 9.52%, 12/15/28 |
1,283 | 1,045,301 | ||||||
TruGreen LP, 2020 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 8.50%), 13.77%, 11/02/28(g) |
868 | 494,760 | ||||||
|
|
|||||||
3,662,441 | ||||||||
Construction & Engineering — 0.9% | ||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (1-mo. LIBOR US at 1.00% Floor + 4.25%), 9.42%, 06/21/24 |
11,864 | 11,729,717 | ||||||
Propulsion BC Newco LLC, Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.99%, 09/14/29 |
150 | 149,155 | ||||||
|
|
|||||||
11,878,872 | ||||||||
Containers & Packaging — 0.2% | ||||||||
Mauser Packaging Solutions Holding Co., Term Loan B, 08/14/26 |
2,089 | 2,087,553 | ||||||
Trident TPI Holdings, Inc., 2023 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.74%, 09/15/28 |
1,354 | 1,333,316 | ||||||
|
|
|||||||
3,420,869 |
Security | Par (000) |
Value | ||||||
|
||||||||
Diversified Consumer Services — 0.2% | ||||||||
Ascend Learning LLC |
||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.75%), 10.95%, 12/10/29 |
USD | 657 | $ | 555,710 | ||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.70%, 12/11/28 |
591 | 553,796 | ||||||
WCG Intermediate Corp., 2019 Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.00%), 9.22%, 01/08/27 |
1,219 | 1,194,762 | ||||||
|
|
|||||||
2,304,268 | ||||||||
Diversified Telecommunication Services — 0.6% | ||||||||
Frontier Communications Holdings LLC, 2021 1st Lien Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.75%), 9.00%, 05/01/28 |
698 | 674,751 | ||||||
Lumen Technologies, Inc., 2020 Term Loan B, 03/15/27(m)(n) |
1,966 | 1,508,694 | ||||||
Northwest Fiber LLC, 2021 Term Loan, 04/30/27(m)(n) |
1,147 | 1,120,493 | ||||||
Radiate Holdco LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 09/25/26 |
1,750 | 1,455,097 | ||||||
Zayo Group Holdings, Inc., USD Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.22%, 03/09/27 |
3,955 | 3,095,535 | ||||||
|
|
|||||||
7,854,570 | ||||||||
Electronic Equipment, Instruments & Components — 0.1% | ||||||||
Ingram Micro, Inc., 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 9.04%, 06/30/28 |
1,025 | 1,020,863 | ||||||
|
|
|||||||
Energy Equipment & Services — 0.0% | ||||||||
Lealand Finance Co. BV, 2020 Make Whole Term Loan, (3-mo. CME Term SOFR + 3.00%), 8.22%, 06/28/24 |
90 | 67,799 | ||||||
|
|
|||||||
Entertainment — 0.0% | ||||||||
Delta 2 Lux SARL, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.10%, 01/15/30 |
138 | 137,931 | ||||||
EP Purchaser LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.50%), 9.00%, 11/06/28 |
365 | 356,415 | ||||||
|
|
|||||||
494,346 | ||||||||
Financial Services — 0.2% | ||||||||
Deerfield Dakota Holding LLC, 2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 6.75%), 12.29%, 04/07/28 |
1,206 | 1,117,057 | ||||||
White Cap Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.75%), 8.85%, 10/19/27 |
1,253 | 1,240,391 | ||||||
|
|
|||||||
2,357,448 | ||||||||
Food Products — 0.0% | ||||||||
Chobani LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.72%, 10/25/27 |
270 | 267,824 | ||||||
|
|
64 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Health Care Equipment & Supplies — 0.4% | ||||||||
Bausch and Lomb, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.59%, 05/10/27 |
USD | 1,388 | $ | 1,344,902 | ||||
Chariot Buyer LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 11/03/28 |
1,047 | 1,021,752 | ||||||
Medline Borrower LP, USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.47%, 10/23/28 |
2,758 | 2,724,397 | ||||||
|
|
|||||||
5,091,051 | ||||||||
Health Care Providers & Services — 0.3% | ||||||||
EyeCare Partners LLC, 2020 Term Loan, (3-mo. CME Term SOFR + 3.75%), 9.25%, 02/18/27 |
731 | 535,809 | ||||||
LifePoint Health, Inc., 2018 Term Loan B, (3-mo. LIBOR US + 3.75%), 9.02%, 11/16/25 |
1,264 | 1,168,408 | ||||||
Quorum Health Corp., 2020 Term Loan, (3-mo. LIBOR US at 1.00% Floor + 8.25%), 13.24%, 04/29/25 |
1,360 | 920,232 | ||||||
Surgery Center Holdings, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.75%), 8.90%, 08/31/26 |
807 | 805,244 | ||||||
|
|
|||||||
3,429,693 | ||||||||
Health Care Technology — 1.9% | ||||||||
AthenaHealth Group, Inc. |
||||||||
2022 Delayed Draw Term loan, (1-mo. CME Term SOFR + 3.50%), 8.26%, 02/15/29(n) |
1,204 | 86,684 | ||||||
2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.59%, 02/15/29 |
9,773 | 9,128,123 | ||||||
Polaris Newco LLC, USD Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 4.00%), 9.54%, 06/02/28 |
1,351 | 1,240,211 | ||||||
Verscend Holding Corp. |
||||||||
2021 2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 7.00%), 12.22%, 04/02/29(g) |
9,376 | 9,376,345 | ||||||
2021 Term Loan B, (1-mo. LIBOR US + 4.00%), 9.22%, 08/27/25 |
5,441 | 5,432,916 | ||||||
|
|
|||||||
25,264,279 | ||||||||
Hotels, Restaurants & Leisure — 0.8% | ||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc., Term Loan B4, (1-mo. LIBOR US + 1.75%), 6.94%, 11/19/26 |
4,068 | 4,036,238 | ||||||
Carnival Corp., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 10/18/28 |
2,888 | 2,858,794 | ||||||
Fertitta Entertainment LLC, 2022 Term Loan B, 01/27/29 |
3,218 | 3,171,894 | ||||||
IRB Holding Corp., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.20%, 12/15/27 |
837 | 830,228 | ||||||
|
|
|||||||
10,897,154 |
Security | Par (000) |
Value | ||||||
|
||||||||
Household Durables — 0.2% | ||||||||
Hunter Douglas, Inc., USD Term Loan B1, (3-mo. CME Term SOFR + 3.50%), 8.67%, 02/26/29 |
USD | 1,123 | $ | 1,062,905 | ||||
Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.22%, 10/06/28 |
2,063 | 1,663,719 | ||||||
|
|
|||||||
2,726,624 | ||||||||
Insurance — 0.8% | ||||||||
Alliant Holdings Intermediate LLC |
||||||||
2021 Term Loan B4, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.65%, 11/06/27 |
835 | 828,812 | ||||||
2023 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.65%, 11/05/27(n) |
6,917 | 6,868,412 | ||||||
HUB International Ltd., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.07%, 11/10/29 |
691 | 689,903 | ||||||
NFP Corp., 2020 Term Loan, 02/15/27(m)(n) |
2,099 | 2,052,849 | ||||||
Ryan Specialty Group LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.20%, 09/01/27 |
537 | 536,296 | ||||||
|
|
|||||||
10,976,272 | ||||||||
Interactive Media & Services — 0.1% | ||||||||
Acuris Finance U.S., Inc., 2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.39%, 02/16/28 |
543 | 535,456 | ||||||
Arches Buyer, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 12/06/27 |
721 | 694,786 | ||||||
Grab Holdings, Inc., Term Loan B, (1-mo. LIBOR US at 1.00% Floor + 4.50%), 9.70%, 01/29/26 |
149 | 148,402 | ||||||
|
|
|||||||
1,378,644 | ||||||||
IT Services — 0.2% | ||||||||
Epicor Software Corp., 2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 7.75%), 12.95%, 07/31/28 |
506 | 504,841 | ||||||
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.34%, 10/01/27 |
1,771 | 1,741,715 | ||||||
Quartz Acquireco LLC, Term Loan B, 06/28/30(g)(m)(n) |
765 | 764,044 | ||||||
TierPoint LLC, 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.75%), 9.23%, 05/05/26 |
339 | 336,470 | ||||||
|
|
|||||||
3,347,070 | ||||||||
Leisure Products — 0.0% | ||||||||
Peloton Interactive, Inc., Term Loan, (6-mo. CME Term SOFR at 0.50% Floor + 6.50%), 12.26%, 05/25/27 |
507 | 504,346 | ||||||
|
|
|||||||
Life Sciences Tools & Services — 0.0% | ||||||||
Fortrea Holdings, Inc., Term Loan B, 06/12/30(m)(n) |
553 | 552,723 | ||||||
PRA Health Sciences, Inc., US Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.75%, 07/03/28 |
— | (o) | 2 | |||||
|
|
|||||||
552,725 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
65 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Machinery — 1.4% | ||||||||
Gates Global LLC, 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.70%, 03/31/27 |
USD | 1,219 | $ | 1,211,242 | ||||
Madison IAQ LLC, Term Loan, (6-mo. LIBOR US at 0.50% Floor + 3.25%), 8.30%, 06/21/28 |
1,021 | 999,179 | ||||||
Roper Industrial Products Investment Co., USD Term Loan, (3-mo. CME Term SOFR + 4.50%), 9.74%, 11/22/29 |
1,547 | 1,539,387 | ||||||
SPX Flow, Inc., 2022 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.70%, 04/05/29 |
1,277 | 1,259,067 | ||||||
Titan Acquisition Ltd., 2018 Term Loan B, (3-mo. LIBOR US + 3.00%), 8.73%, 03/28/25 |
8,620 | 8,401,409 | ||||||
Vertical U.S. Newco, Inc., Term Loan B, 07/30/27(m)(n) |
4,808 | 4,772,427 | ||||||
|
|
|||||||
18,182,711 | ||||||||
Media — 1.6% | ||||||||
AVSC Holding Corp., 2018 2nd Lien Term Loan, (1-mo. LIBOR US at 1.00% Floor + 7.25%), 12.43%, 09/01/25 |
639 | 569,547 | ||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3-mo. CME Term SOFR + 3.50%), 8.81%, 08/21/26(n) |
12,153 | 11,574,818 | ||||||
DirecTV Financing LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.22%, 08/02/27 |
5,950 | 5,810,543 | ||||||
Intelsat Jackson Holdings SA, 2021 Exit Term Loan B, 02/01/29 |
2,270 | 2,257,573 | ||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (1-mo. CME Term SOFR + 3.75%), 8.95%, 04/21/29(g) |
841 | 632,760 | ||||||
|
|
|||||||
20,845,241 | ||||||||
Oil, Gas & Consumable Fuels — 0.1% | ||||||||
Freeport LNG Investments LLLP, Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 8.75%, 12/21/28 |
1,339 | 1,309,774 | ||||||
M6 ETX Holdings II Midco LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.68%, 09/19/29 |
425 | 420,679 | ||||||
|
|
|||||||
1,730,453 | ||||||||
Passenger Airlines — 0.6% | ||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.00%, 04/20/28 |
2,902 | 2,960,675 | ||||||
Air Canada, 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.50%), 8.84%, 08/11/28 |
782 | 780,631 | ||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3-mo. LIBOR US at 1.00% Floor + 5.25%), 10.76%, 06/21/27 |
340 | 352,443 | ||||||
SkyMiles IP Ltd., 2020 Skymiles Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.75%), 8.80%, 10/20/27 |
1,483 | 1,539,161 | ||||||
United Airlines, Inc., 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.75%), 9.29%, 04/21/28 |
1,822 | 1,818,568 | ||||||
|
|
|||||||
7,451,478 |
Security | Par (000) |
Value | ||||||
|
||||||||
Pharmaceuticals — 0.0% | ||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.72%, 05/04/25 |
USD | 397 | $ | 381,921 | ||||
|
|
|||||||
Professional Services — 0.3% | ||||||||
CoreLogic, Inc. |
||||||||
2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 6.50%), 11.75%, 06/04/29 |
1,107 | 888,546 | ||||||
Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.75%, 06/02/28 |
2,499 | 2,252,526 | ||||||
Galaxy U.S. Opco, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 9.85%, 04/29/29(g) |
480 | 450,347 | ||||||
|
|
|||||||
3,591,419 | ||||||||
Software — 3.7% | ||||||||
Boxer Parent Co., Inc. |
||||||||
2021 USD 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.50%), 10.72%, 02/27/26 |
2,250 | 2,184,367 | ||||||
2021 USD Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.97%, 10/02/25 |
1,279 | 1,267,523 | ||||||
Central Parent, Inc., 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.49%, 07/06/29 |
623 | 620,715 | ||||||
Cloud Software Group, Inc., 2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.84%, 03/30/29 |
5,114 | 4,775,368 | ||||||
Cloudera, Inc. |
||||||||
2021 Second Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.08%, 10/08/29(g) |
1,896 | 1,705,932 | ||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 10/08/28 |
996 | 969,610 | ||||||
Delta TopCo, Inc., 2020 Term Loan B, (6-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.07%, 12/01/27 |
1,284 | 1,240,790 | ||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3-mo. CME Term SOFR + 3.75%), 9.14%, 03/11/28 |
303 | 298,982 | ||||||
Magenta Buyer LLC |
||||||||
2021 USD 1st Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.03%, 07/27/28 |
3,476 | 2,605,726 | ||||||
2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 8.25%), 13.53%, 07/27/29 |
2,293 | 1,478,985 | ||||||
McAfee Corp., 2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.01%, 03/01/29 |
2,726 | 2,602,353 | ||||||
MH Sub I LLC |
||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 6.25%), 11.35%, 02/23/29 |
288 | 249,661 | ||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.35%, 05/03/28 |
3,383 | 3,240,914 | ||||||
Planview Parent, Inc., 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.59%, 12/18/28 |
850 | 748,000 | ||||||
Proofpoint, Inc., 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.25%), 11.47%, 08/31/29 |
2,070 | 2,003,064 |
66 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Software (continued) | ||||||||
RealPage, Inc., 2nd Lien Term Loan, (1-mo. LIBOR US at 0.75% Floor + 6.50%), 11.69%, 04/23/29 |
USD | 7,231 | $ | 6,984,249 | ||||
Sabre Global, Inc. |
||||||||
2021 Term Loan B1, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 12/17/27 |
342 | 265,825 | ||||||
2021 Term Loan B2, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 12/17/27 |
534 | 415,676 | ||||||
Severin Acquisition LLC, 2018 Term Loan B, (3-mo. CME Term SOFR + 3.00%), 8.05%, 08/01/25 |
2,143 | 2,140,433 | ||||||
Sophia LP |
||||||||
2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 8.00%), 13.20%, 10/09/28 |
10,251 | 10,199,745 | ||||||
2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 9.04%, 10/07/27 |
1,111 | 1,097,741 | ||||||
UKG, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.27%, 05/03/27 |
2,177 | 2,105,228 | ||||||
|
|
|||||||
49,200,887 | ||||||||
Textiles, Apparel & Luxury Goods — 0.0% | ||||||||
Hanesbrands, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.85%, 03/08/30(g) |
563 | 563,996 | ||||||
|
|
|||||||
Trading Companies & Distributors — 0.2% | ||||||||
SRS Distribution, Inc., 2022 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.70%, 06/02/28 |
3,417 | 3,329,076 | ||||||
|
|
|||||||
Transportation Infrastructure — 0.2% | ||||||||
Apple Bidco LLC, 2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.10%, 09/22/28 |
903 | 897,090 | ||||||
Brown Group Holding LLC, 2022 Incremental Term Loan B2, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.85%, 07/02/29 |
1,294 | 1,291,092 | ||||||
|
|
|||||||
2,188,182 | ||||||||
Wireless Telecommunication Services — 0.1% | ||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1-mo. LIBOR US + 3.25%), 8.98%, 05/28/24 |
1,916 | 1,752,994 | ||||||
|
|
|||||||
Total Floating Rate Loan Interests — 16.7% (Cost: $228,792,073) |
|
223,408,433 | ||||||
|
|
|||||||
Preferred Securities |
||||||||
Capital Trusts — 1.2% | ||||||||
Automobiles — 0.1% | ||||||||
General Motors Financial Co., Inc., Series C, 5.70%(a)(j) |
655 | 574,988 | ||||||
|
|
|||||||
Banks(a)(j) — 0.3% | ||||||||
AIB Group PLC, 5.25%(c) |
EUR | 210 | 213,753 | |||||
Citigroup, Inc., Series P, 5.95% |
USD | 600 | 575,417 |
Security | Par (000) |
Value | ||||||
|
||||||||
Banks (continued) | ||||||||
Hongkong & Shanghai Banking Corp. Ltd., Series 3H, 5.46% |
USD | 60 | $ | 59,643 | ||||
PNC Financial Services Group, Inc. |
||||||||
6.25%, 12/31/99 |
1,572 | 1,411,263 | ||||||
Series V, 6.20% |
1,417 | 1,320,857 | ||||||
|
|
|||||||
3,580,933 | ||||||||
Consumer Staples Distribution & Retail — 0.0% | ||||||||
Casino Guichard Perrachon SA, 3.99%(c)(f)(i)(j) |
EUR | 100 | 600 | |||||
|
|
|||||||
Diversified Telecommunication Services(a) — 0.1% | ||||||||
British Telecommunications PLC, 4.88%, 11/23/81(b) |
USD | 200 | 162,567 | |||||
Telefonica Europe BV(c)(j) |
||||||||
7.13% |
EUR | 200 | 222,602 | |||||
6.14% |
300 | 315,493 | ||||||
|
|
|||||||
700,662 | ||||||||
Electric Utilities(a) — 0.1% | ||||||||
Edison International, Series B, 5.00%(j) |
USD | 940 | 812,066 | |||||
EDP - Energias de Portugal SA, 5.94%, 04/23/83(c) |
EUR | 100 | 108,030 | |||||
Electricite de France SA(c)(j) |
||||||||
3.00% |
200 | 184,369 | ||||||
3.38% |
200 | 167,124 | ||||||
Naturgy Finance BV, 2.37%(c)(j) |
200 | 191,672 | ||||||
|
|
|||||||
1,463,261 | ||||||||
Financial Services(a)(j) — 0.3% | ||||||||
Barclays PLC |
||||||||
4.38% |
USD | 2,490 | 1,691,706 | |||||
8.00% |
980 | 875,532 | ||||||
8.00% |
200 | 188,980 | ||||||
BNP Paribas SA, 6.88%(c) |
EUR | 200 | 208,923 | |||||
Lloyds Banking Group PLC, 8.00% |
USD | 1,320 | 1,206,018 | |||||
Societe Generale SA, 7.88%(c) |
EUR | 100 | 104,291 | |||||
|
|
|||||||
4,275,450 | ||||||||
Health Care Providers & Services — 0.0% | ||||||||
Clariane SE, 4.13%(a)(c)(j) |
GBP | 200 | 203,131 | |||||
|
|
|||||||
Independent Power and Renewable Electricity Producers(a)(b)(j) — 0.3% | ||||||||
NRG Energy, Inc., 10.25% |
USD | 2,427 | 2,288,588 | |||||
Vistra Corp., 7.00% |
1,272 | 1,109,820 | ||||||
|
|
|||||||
3,398,408 | ||||||||
Media — 0.0% | ||||||||
SES SA, 2.88%(a)(c)(j) |
EUR | 134 | 123,739 | |||||
|
|
|||||||
Oil, Gas & Consumable Fuels(a)(c)(j) — 0.0% | ||||||||
Abertis Infraestructuras Finance BV, 3.25% |
200 | 195,641 | ||||||
Repsol International Finance BV, 4.25% |
124 | 121,630 | ||||||
|
|
|||||||
317,271 | ||||||||
Transportation Infrastructure — 0.0% | ||||||||
Poste Italiane SpA, 2.63%(a)(c)(j) |
200 | 165,317 | ||||||
|
|
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
67 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Wireless Telecommunication Services — 0.0% | ||||||||
Vodafone Group PLC, 2.63%, 08/27/80(a)(c) |
EUR | 400 | $ | 392,776 | ||||
|
|
|||||||
15,196,536 | ||||||||
|
|
|||||||
Shares | ||||||||
|
||||||||
Preferred Stocks — 1.0% | ||||||||
Commercial Services & Supplies — 0.1% | ||||||||
Verscend Intermediate Holding(g) |
790 | 1,036,072 | ||||||
|
|
|||||||
Financial Services — 0.1% | ||||||||
Alliant Holdings, Inc.(g) |
1,431 | 1,359,579 | ||||||
|
|
|||||||
IT Services — 0.8% | ||||||||
ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: $6,755,577)(d)(g) |
61,653 | 10,838,848 | ||||||
|
|
|||||||
Wireless Telecommunication Services — 0.0% | ||||||||
CF-B L2 (D) LLC, (Acquired 04/08/15, Cost: $674,329)(d) |
688,714 | 6,887 | ||||||
Ligado Networks LLC(p) |
32,168 | 321,684 | ||||||
|
|
|||||||
328,571 | ||||||||
|
|
|||||||
13,563,070 | ||||||||
|
|
|||||||
Total Preferred Securities — 2.2% (Cost: $31,922,244) |
|
28,759,606 | ||||||
|
|
|||||||
Total Long-Term Investments — 140.5% (Cost: $1,968,024,244) |
|
1,881,248,761 | ||||||
|
|
|||||||
Options Purchased — 0.0% (Cost: $448,059) |
|
270,369 | ||||||
|
|
|||||||
Total Investments Before Options Written — 140.5% (Cost: $1,968,472,303) |
|
1,881,519,130 | ||||||
|
|
|||||||
Options Written — (0.0)% (Premiums Received: $(141,072)) |
|
(87,588 | ) | |||||
|
|
|||||||
Total Investments, Net of Options Written — 140.5% (Cost: $1,968,331,231) |
|
1,881,431,542 | ||||||
Liabilities in Excess of Other Assets — (40.5)% |
|
(542,195,263 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 1,339,236,279 | |||||
|
|
(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) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(d) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $11,457,284, representing 0.9% of its net assets as of period end, and an original cost of $9,029,258. |
(e) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(f) | Non-income producing security. |
(g) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(h) | 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. |
(i) | Issuer filed for bankruptcy and/or is in default. |
(j) | Perpetual security with no stated maturity date. |
(k) | Convertible security. |
(l) | Zero-coupon bond. |
(m) | 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. |
(n) | When-issued security. |
(o) | Rounds to less than 1,000. |
(p) | All or a portion of the security is held by a wholly-owned subsidiary. See Note 1 of the Notes to Consolidated Financial Statements for details on the wholly-owned subsidiary. |
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 12/31/22 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 06/30/23 |
Shares Held at 06/30/23 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class(a) |
$ | 723,084 | $ | — | $ | (723,084 | )(b) | $ | — | $ | — | $ | — | — | $ | 37,586 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | As of period end, the entity is no longer held. |
(b) | Represents net amount purchased (sold). |
68 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
||||||||||||||||
Short Contracts |
||||||||||||||||
U.S. Long Bond |
6 | 09/20/23 | $ | 763 | $ | (2,071 | ) | |||||||||
Ultra U.S. Treasury Bond |
29 | 09/20/23 | 3,950 | (28,370 | ) | |||||||||||
|
|
|||||||||||||||
$ | (30,441 | ) | ||||||||||||||
|
|
|
||||||||||||||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) |
||||||||||||||||||
|
||||||||||||||||||||||
USD | 19,763,741 | EUR | 18,009,966 | BNP Paribas SA | 09/20/23 | $ | 36,115 | |||||||||||||||
USD | 93,803 | EUR | 85,000 | Morgan Stanley & Co. International PLC | 09/20/23 | 697 | ||||||||||||||||
USD | 195,948 | EUR | 178,000 | Nomura International PLC | 09/20/23 | 972 | ||||||||||||||||
USD | 131,937 | EUR | 120,000 | Royal Bank of Canada | 09/20/23 | 492 | ||||||||||||||||
USD | 11,217,772 | EUR | 10,221,034 | Toronto-Dominion Bank | 09/20/23 | 21,930 | ||||||||||||||||
USD | 4,589,316 | GBP | 3,579,000 | BNP Paribas SA | 09/20/23 | 43,020 | ||||||||||||||||
|
|
|||||||||||||||||||||
103,226 | ||||||||||||||||||||||
|
|
|||||||||||||||||||||
USD | 202,714 | EUR | 188,000 | Bank of America N.A. | 09/20/23 | (3,216 | ) | |||||||||||||||
USD | 15,072 | EUR | 14,000 | Royal Bank of Canada | 09/20/23 | (263 | ) | |||||||||||||||
USD | 213,429 | EUR | 198,000 | Royal Bank of Canada | 09/20/23 | (3,454 | ) | |||||||||||||||
USD | 91,787 | EUR | 85,000 | State Street Bank and Trust Co. | 09/20/23 | (1,320 | ) | |||||||||||||||
USD | 192,555 | EUR | 179,000 | Toronto-Dominion Bank | 09/20/23 | (3,517 | ) | |||||||||||||||
USD | 64,559 | GBP | 51,000 | State Street Bank and Trust Co. | 09/20/23 | (225 | ) | |||||||||||||||
|
|
|||||||||||||||||||||
(11,995 | ) | |||||||||||||||||||||
|
|
|||||||||||||||||||||
$ | 91,231 | |||||||||||||||||||||
|
|
|
||||||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Exercise Price | Notional Amount (000) |
Value | |||||||||||||||
|
||||||||||||||||||||
Put |
||||||||||||||||||||
SPDR S&P 500 ETF Trust |
389 | 08/18/23 | USD 425.00 | USD 17,244 | $ | 96,083 | ||||||||||||||
SPDR S&P 500 ETF Trust |
413 | 09/15/23 | USD 425.00 | USD 18,307 | 174,286 | |||||||||||||||
|
|
|||||||||||||||||||
$ | 270,369 | |||||||||||||||||||
|
|
|
||||||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Exercise Price | Notional Amount (000) |
Value | |||||||||||||||
|
||||||||||||||||||||
Put |
||||||||||||||||||||
SPDR S&P 500 ETF Trust |
389 | 08/18/23 | USD 390.00 | USD 17,244 | $ | (26,258 | ) | |||||||||||||
SPDR S&P 500 ETF Trust |
413 | 09/15/23 | USD 390.00 | USD 18,307 | (61,330 | ) | ||||||||||||||
|
|
|||||||||||||||||||
$ | (87,588 | ) | ||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
Reference Obligation/Index | Financing Rate Received by the Trust |
Payment Frequency |
Termination Date |
Credit Rating |
Notional Amount (000) |
Value | Upfront Premium Paid (Received) |
Unrealized Appreciation (Depreciation) |
||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
CDX.NA.HY.40.V1 |
5.00 | % | Quarterly | 06/20/28 | B | USD 16,772 | $ | 498,719 | $ | 9,936 | $ | 488,783 | ||||||||||||||||||
|
|
|
|
|
|
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
69 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Reference Obligations/Index | |
Financing Rate Paid by the Trust |
|
|
Payment Frequency |
|
Counterparty | |
Termination Date |
|
|
Notional Amount (000) |
|
Value | |
Upfront Premium Paid (Received) |
|
|
Unrealized Appreciation (Depreciation) |
| ||||||||||||||
Intrum AB |
5.00 | % | Quarterly | Goldman Sachs International |
06/20/28 | EUR | 61 | $ | 12,471 | $ | 13,260 | $ | (789 | ) | ||||||||||||||||||||
|
|
|
|
|
|
Reference Obligation/Index | |
Financing Rate Received by the Trust |
|
|
Payment Frequency |
|
Counterparty | |
Termination Date |
|
Credit Rating(a) |
|
Notional Amount (000)(b) |
|
Value | |
Upfront Premium Paid (Received) |
|
|
Unrealized Appreciation (Depreciation) |
| |||||||||||||||
Casino, Guichard-Perrachon S.A. |
5.00 | % | Quarterly | JPMorgan Chase Bank N.A. |
12/20/23 | CC | EUR | 8 | $ | (8,056 | ) | $ | (755 | ) | $ | (7,301 | ) | |||||||||||||||||||
Virgin Media Finance PLC |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/25 | B | EUR | 70 | 3,901 | 5,039 | (1,138 | ) | |||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Bank of America N.A. |
06/20/26 | BB- | EUR | 61 | 751 | (1,593 | ) | 2,344 | |||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Bank of America N.A. |
12/20/26 | BB- | EUR | 37 | (159 | ) | (1,141 | ) | 982 | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Barclays Bank PLC |
12/20/26 | BB- | EUR | 41 | (176 | ) | 1,264 | (1,440 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Credit Suisse International |
12/20/26 | BB- | EUR | 40 | (170 | ) | 1,300 | (1,470 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Credit Suisse International |
12/20/26 | BB- | EUR | 55 | (237 | ) | 1,686 | (1,923 | ) | ||||||||||||||||||||||||
K&S AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/26 | BBB- | EUR | 90 | 10,781 | 5,721 | 5,060 | ||||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Credit Suisse International |
06/20/27 | NR | EUR | 125 | 12,088 | 4,633 | 7,455 | ||||||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB | EUR | 50 | (940 | ) | (4,489 | ) | 3,549 | ||||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB | EUR | 180 | (3,383 | ) | (25,775 | ) | 22,392 | ||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Bank of America N.A. |
12/20/27 | CCC+ | EUR | 35 | (8,775 | ) | (7,444 | ) | (1,331 | ) | |||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Barclays Bank PLC |
12/20/27 | CCC+ | EUR | 21 | (5,274 | ) | (4,400 | ) | (874 | ) | |||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Barclays Bank PLC |
12/20/27 | CCC+ | EUR | 59 | (14,825 | ) | (12,367 | ) | (2,458 | ) | |||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Citibank N.A. |
12/20/27 | CCC+ | EUR | 17 | (4,301 | ) | (3,685 | ) | (616 | ) | |||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/27 | CCC+ | EUR | 36 | (9,003 | ) | (7,672 | ) | (1,331 | ) | |||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Morgan Stanley & Co. International PLC |
12/20/27 | CCC+ | EUR | 26 | (6,526 | ) | (5,482 | ) | (1,044 | ) | |||||||||||||||||||||||
United Group B.V. |
5.00 | Quarterly | Bank of America N.A. |
12/20/27 | B | EUR | 68 | (6,692 | ) | (9,534 | ) | 2,842 | ||||||||||||||||||||||||
United Group B.V. |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/27 | B | EUR | 82 | (8,110 | ) | (12,380 | ) | 4,270 | ||||||||||||||||||||||||
Casino, Guichard-Perrachon S.A. |
5.00 | Quarterly | Deutsche Bank AG |
06/20/28 | CC | EUR | 58 | (59,192 | ) | (47,005 | ) | (12,187 | ) | |||||||||||||||||||||||
Casino, Guichard-Perrachon S.A. |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/28 | CC | EUR | 8 | (8,164 | ) | (6,035 | ) | (2,129 | ) | |||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/28 | BB | EUR | 16 | (569 | ) | (1,103 | ) | 534 | ||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
$ | (117,031) | $ | (131,217) | $ | 14,186 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
(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 Trust may pay should a negative credit event take place as defined under the terms of the agreement. |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
Paid by the Trust |
Received by the Trust |
|
|
|
|
|
|
Upfront Premium |
Unrealized | |||||||||||||||||||||||||||||||||||||||||
Rate/Reference | Frequency | Rate/Reference | Frequency | Counterparty | Effective Date |
Termination Date |
Notional Amount (000) |
Value | Paid (Received) |
Appreciation (Depreciation) |
||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||
1‑Day SOFR, 1.09% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | JPMorgan Chase Bank N.A. | N/A | 03/20/24 | USD | 1,535 | $ | 6,130 | $ | (16,550 | ) | $ | 22,680 | |||||||||||||||||||||||||||||||||||
1‑Day SOFR, 1.09% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 03/20/24 | USD | 9,430 | 133,105 | (55,170 | ) | 188,275 | ||||||||||||||||||||||||||||||||||||||
1‑Day SOFR, 1.09% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 03/20/24 | USD | 346 | 3,592 | (2,408 | ) | 6,000 | ||||||||||||||||||||||||||||||||||||||
1‑Day SOFR, 1.09% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 03/20/24 | USD | 693 | 10,186 | (5,019 | ) | 15,205 | ||||||||||||||||||||||||||||||||||||||
1‑Day SOFR, 1.09% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 03/20/24 | USD | 1,386 | 34,018 | (12,387 | ) | 46,405 | ||||||||||||||||||||||||||||||||||||||
1‑Day SOFR, 1.09% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 03/20/24 | USD | 624 | 2,635 | (6,728 | ) | 9,363 | ||||||||||||||||||||||||||||||||||||||
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|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
$ | 189,666 | $ | (98,262 | ) | $ | 287,928 | ||||||||||||||||||||||||||||||||||||||||||||
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70 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Description | Swap Premiums Paid |
Swap Premiums Received |
Unrealized Appreciation |
Unrealized Depreciation |
Value | |||||||||||||||
Centrally Cleared Swaps(a) |
$ | 9,936 | $ | — | $ | 488,783 | $ | — | $ | — | ||||||||||
OTC Swaps |
32,903 | (249,122 | ) | 337,356 | (36,031 | ) | — | |||||||||||||
Options Written |
N/A | N/A | 53,484 | — | (87,588 | ) |
(a) | Includes cumulative appreciation (depreciation) on centrally cleared swaps, as reported in the Consolidated Schedule of Investments. Only current day’s variation margin is reported within the Consolidated Statements of Assets and Liabilities and is net of any previously paid (received) swap premium amounts. |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Assets — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on forward foreign currency exchange contracts |
$ | — | $ | — | $ | — | $ | 103,226 | $ | — | $ | — | $ | 103,226 | ||||||||||||||
Options purchased |
||||||||||||||||||||||||||||
Investments at value — unaffiliated(a) |
— | — | 270,369 | — | — | — | 270,369 | |||||||||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized appreciation on centrally cleared swaps(b) |
— | 488,783 | — | — | — | — | 488,783 | |||||||||||||||||||||
Swaps — OTC |
||||||||||||||||||||||||||||
Unrealized appreciation on OTC swaps; Swap premiums paid |
— | 82,331 | — | — | 287,928 | — | 370,259 | |||||||||||||||||||||
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|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 571,114 | $ | 270,369 | $ | 103,226 | $ | 287,928 | $ | — | $ | 1,232,637 | |||||||||||||||
|
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|
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|
|
|
|
|
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|
|
|
|||||||||||||||
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on futures contracts(b) |
$ | — | $ | — | $ | — | $ | — | $ | 30,441 | $ | — | $ | 30,441 | ||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on forward foreign currency exchange contracts |
— | — | — | 11,995 | — | — | 11,995 | |||||||||||||||||||||
Options written |
||||||||||||||||||||||||||||
Options written at value |
— | — | 87,588 | — | — | — | 87,588 | |||||||||||||||||||||
Swaps — OTC |
||||||||||||||||||||||||||||
Unrealized depreciation on OTC swaps; Swap premiums received |
— | 186,891 | — | — | 98,262 | — | 285,153 | |||||||||||||||||||||
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|
|
|
|
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|
|
|
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|
|
|||||||||||||||
$ | — | $ | 186,891 | $ | 87,588 | $ | 11,995 | $ | 128,703 | $ | — | $ | 415,177 | |||||||||||||||
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|
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|
|
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|
|
|
(a) | Includes options purchased at value as reported in the Consolidated Schedule of Investments. |
(b) | Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Consolidated Schedule of Investments. In the Consolidated Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | (1,412,063 | ) | $ | — | $ | (758,810 | ) | $ | — | $ | (2,170,873 | ) | |||||||||||
Forward foreign currency exchange contracts |
— | — | — | (305,526 | ) | — | — | (305,526 | ) | |||||||||||||||||||
Options purchased(a) |
— | — | (2,027,113 | ) | — | — | — | (2,027,113 | ) | |||||||||||||||||||
Options written |
— | — | 1,155,118 | — | — | — | 1,155,118 | |||||||||||||||||||||
Swaps |
— | 362,414 | — | — | (1,929 | ) | — | 360,485 | ||||||||||||||||||||
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|
|||||||||||||||
$ | — | $ | 362,414 | $ | (2,284,058 | ) | $ | (305,526 | ) | $ | (760,739 | ) | $ | — | $ | (2,987,909 | ) | |||||||||||
|
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|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | (188,778 | ) | $ | — | $ | (495,022 | ) | $ | — | $ | (683,800 | ) | |||||||||||
Forward foreign currency exchange contracts |
— | — | — | 157,845 | — | — | 157,845 | |||||||||||||||||||||
Options purchased(b) |
— | — | (197,450 | ) | — | — | — | (197,450 | ) |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
71 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Options written |
$ | — | $ | — | $ | (85,337 | ) | $ | — | $ | — | $ | — | $ | (85,337 | ) | ||||||||||||
Swaps |
— | 517,333 | — | — | 433,882 | — | 951,215 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 517,333 | $ | (471,565 | ) | $ | 157,845 | $ | (61,140 | ) | $ | — | $ | 142,473 | |||||||||||||
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|
|
|
|
|
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|
|
(a) | Options purchased are included in net realized gain (loss) from investments — unaffiliated. |
(b) | Options purchased are included in net change in unrealized appreciation (depreciation) on investments — unaffiliated. |
Futures contracts: |
||||
Average notional value of contracts — short |
$ | 28,228,470 | ||
Forward foreign currency exchange contracts: |
||||
Average amounts purchased — in USD |
$ | 33,748,222 | ||
Average amounts sold — in USD |
$ | 500,689 | ||
Options: |
||||
Average value of option contracts purchased |
$ | 297,643 | ||
Average value of option contracts written |
$ | 77,657 | ||
Credit default swaps: |
||||
Average notional value — buy protection |
$ | 33,282 | ||
Average notional value — sell protection |
$ | 18,306,483 | ||
Total return swaps: |
||||
Average notional value |
$ | 14,014,000 |
Assets | Liabilities | |||||||
Derivative Financial Instruments |
||||||||
Futures contracts |
$ | — | $ | 42,103 | ||||
Forward foreign currency exchange contracts |
103,226 | 11,995 | ||||||
Options |
270,369 | 87,588 | ||||||
Swaps — centrally cleared |
112,936 | — | ||||||
Swaps — OTC(a) |
370,259 | 285,153 | ||||||
|
|
|
|
|||||
Total derivative assets and liabilities in the Consolidated Statements of Assets and Liabilities |
856,790 | 426,839 | ||||||
|
|
|
|
|||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) |
(383,305 | ) | (129,691 | ) | ||||
|
|
|
|
|||||
Total derivative assets and liabilities subject to an MNA |
$ | 473,485 | $ | 297,148 | ||||
|
|
|
|
(a) | Includes unrealized appreciation (depreciation) on OTC swaps and swap premiums (paid/received) in the Consolidated Statements of Assets and Liabilities. |
Counterparty | |
Derivative Assets Subject to an MNA by Counterparty |
|
|
Derivatives Available for Offset |
(a) |
|
Non-Cash Collateral Received |
|
|
Cash Collateral Received |
|
|
Net Amount of Derivative Assets |
(b)(c) | |||||
Bank of America N.A. |
$ | 6,168 | $ | (6,168) | $ | — | $ | — | $ | — | ||||||||||
Barclays Bank PLC |
1,264 | (1,264) | — | — | — | |||||||||||||||
BNP Paribas SA |
79,135 | — | — | — | 79,135 | |||||||||||||||
Credit Suisse International |
15,074 | (3,393) | — | — | 11,681 | |||||||||||||||
Goldman Sachs International |
13,260 | (789) | — | — | 12,471 | |||||||||||||||
JPMorgan Chase Bank N.A. |
69,245 | (69,245) | — | — | — | |||||||||||||||
Morgan Stanley & Co. International PLC |
265,945 | (88,238) | — | (20,000 | ) | 157,707 | ||||||||||||||
Nomura International PLC |
972 | — | — | — | 972 |
72 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Counterparty | |
Derivative Assets Subject to an MNA by Counterparty |
|
|
Derivatives Available for Offset |
(a) |
|
Non-Cash Collateral Received |
|
|
Cash Collateral Received |
|
|
Net Amount of Derivative Assets |
(b)(c) | |||||
Royal Bank of Canada |
$ | 492 | $ | (492) | $ | — | $ | — | $ | — | ||||||||||
Toronto-Dominion Bank |
21,930 | (3,517) | — | — | 18,413 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 473,485 | $ | (173,106) | $ | — | $ | (20,000 | ) | $ | 280,379 | ||||||||||
|
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|
|
|
|
|
|
|
|
|||||||||||
Counterparty | |
Derivative Liabilities Subject to an MNA by Counterparty |
|
|
Derivatives Available for Offset |
(a) |
|
Non-Cash Collateral Pledged |
|
|
Cash Collateral Pledged |
(d) |
|
Net Amount of Derivative Liabilities |
(b)(e) | |||||
Bank of America N.A. |
$ | 24,259 | $ | (6,168) | $ | — | $ | — | $ | 18,091 | ||||||||||
Barclays Bank PLC |
21,539 | (1,264) | — | — | 20,275 | |||||||||||||||
Citibank N.A. |
4,301 | — | — | — | 4,301 | |||||||||||||||
Credit Suisse International |
3,393 | (3,393) | — | — | — | |||||||||||||||
Deutsche Bank AG |
59,192 | — | — | — | 59,192 | |||||||||||||||
Goldman Sachs International |
789 | (789) | — | — | — | |||||||||||||||
JPMorgan Chase Bank N.A. |
86,658 | (69,245) | — | (17,413 | ) | — | ||||||||||||||
Morgan Stanley & Co. International PLC |
88,238 | (88,238) | — | — | — | |||||||||||||||
Royal Bank of Canada |
3,717 | (492) | — | — | 3,225 | |||||||||||||||
State Street Bank and Trust Co. |
1,545 | — | — | — | 1,545 | |||||||||||||||
Toronto-Dominion Bank |
3,517 | (3,517) | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 297,148 | $ | (173,106) | $ | — | $ | (17,413 | ) | $ | 106,629 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | The amount of derivatives available for offset is limited to the amount of derivative asset and/or liabilities that are subject to an MNA. |
(b) | Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized. |
(c) | Net amount represents the net amount receivable from the counterparty in the event of default. |
(d) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(e) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Consolidated Statements of Assets and Liabilities. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Asset-Backed Securities |
$ | — | $ | 1,721,719 | $ | — | $ | 1,721,719 | ||||||||
Common Stocks |
||||||||||||||||
Capital Markets |
— | 611,549 | — | 611,549 | ||||||||||||
Chemicals |
716,256 | — | — | 716,256 | ||||||||||||
Electrical Equipment |
10,045 | — | — | 10,045 | ||||||||||||
Energy Equipment & Services |
9,154 | — | — | 9,154 | ||||||||||||
Financial Services |
307,154 | — | 1 | 307,155 | ||||||||||||
Ground Transportation |
641,506 | — | — | 641,506 | ||||||||||||
Hotels, Restaurants & Leisure |
1,021,170 | — | — | 1,021,170 | ||||||||||||
IT Services |
160,450 | — | — | 160,450 | ||||||||||||
Metals & Mining |
2,390,679 | — | — | 2,390,679 | ||||||||||||
Oil, Gas & Consumable Fuels |
— | — | 22,235 | 22,235 | ||||||||||||
Pharmaceuticals |
845,260 | — | — | 845,260 | ||||||||||||
Real Estate Management & Development |
4,976 | 2,152 | — | 7,128 | ||||||||||||
Semiconductors & Semiconductor Equipment |
3,604 | — | — | 3,604 | ||||||||||||
Software |
1,150,200 | — | — | 1,150,200 |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
73 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Corporate Bonds |
||||||||||||||||
Aerospace & Defense |
$ | — | $ | 84,515,455 | $ | — | $ | 84,515,455 | ||||||||
Air Freight & Logistics |
— | 745,286 | — | 745,286 | ||||||||||||
Automobile Components |
— | 35,333,009 | — | 35,333,009 | ||||||||||||
Automobiles |
— | 29,220,180 | — | 29,220,180 | ||||||||||||
Banks |
— | 9,325,638 | — | 9,325,638 | ||||||||||||
Beverages |
— | 46,177,733 | — | 46,177,733 | ||||||||||||
Biotechnology |
— | 400,757 | — | 400,757 | ||||||||||||
Broadline Retail |
— | 648,761 | — | 648,761 | ||||||||||||
Building Materials |
— | 29,093,564 | — | 29,093,564 | ||||||||||||
Building Products |
— | 22,526,538 | — | 22,526,538 | ||||||||||||
Capital Markets |
— | 29,325,611 | — | 29,325,611 | ||||||||||||
Chemicals |
— | 41,868,083 | — | 41,868,083 | ||||||||||||
Commercial Services & Supplies |
— | 42,129,658 | — | 42,129,658 | ||||||||||||
Communications Equipment |
— | 14,044,187 | — | 14,044,187 | ||||||||||||
Construction Materials |
— | 4,121,490 | — | 4,121,490 | ||||||||||||
Consumer Discretionary |
— | 52,958,115 | — | 52,958,115 | ||||||||||||
Consumer Finance |
164,144 | 48,481,966 | — | 48,646,110 | ||||||||||||
Consumer Staples Distribution & Retail |
— | 15,813,396 | — | 15,813,396 | ||||||||||||
Containers & Packaging |
— | 13,007,334 | — | 13,007,334 | ||||||||||||
Diversified Consumer Services |
— | 43,868,204 | — | 43,868,204 | ||||||||||||
Diversified REITs |
— | 20,168,981 | — | 20,168,981 | ||||||||||||
Diversified Telecommunication Services |
— | 33,893,015 | — | 33,893,015 | ||||||||||||
Electric Utilities |
— | 7,816,931 | — | 7,816,931 | ||||||||||||
Electrical Equipment |
— | 8,399,092 | — | 8,399,092 | ||||||||||||
Electronic Equipment, Instruments & Components |
— | 7,157,496 | — | 7,157,496 | ||||||||||||
Energy Equipment & Services |
— | 18,081,036 | — | 18,081,036 | ||||||||||||
Entertainment |
— | 922,932 | — | 922,932 | ||||||||||||
Environmental, Maintenance & Security Service |
— | 20,254,815 | — | 20,254,815 | ||||||||||||
Financial Services |
— | 26,733,404 | — | 26,733,404 | ||||||||||||
Food Products |
— | 18,310,239 | — | 18,310,239 | ||||||||||||
Gas Utilities |
— | 1,847,504 | — | 1,847,504 | ||||||||||||
Health Care Equipment & Supplies |
— | 9,906,545 | — | 9,906,545 | ||||||||||||
Health Care Providers & Services |
— | 47,470,418 | — | 47,470,418 | ||||||||||||
Health Care Technology |
— | 13,472,211 | — | 13,472,211 | ||||||||||||
Hotels, Restaurants & Leisure |
— | 86,123,339 | — | 86,123,339 | ||||||||||||
Household Durables |
— | 14,474,169 | — | 14,474,169 | ||||||||||||
Household Products |
— | 555,398 | — | 555,398 | ||||||||||||
Independent Power and Renewable Electricity Producers |
— | 5,182,556 | — | 5,182,556 | ||||||||||||
Industrial Conglomerates |
— | 913,171 | — | 913,171 | ||||||||||||
Insurance |
— | 45,418,771 | — | 45,418,771 | ||||||||||||
Interactive Media & Services |
— | 1,191,976 | — | 1,191,976 | ||||||||||||
Internet Software & Services |
— | 22,610,259 | — | 22,610,259 | ||||||||||||
IT Services |
— | 30,309,558 | — | 30,309,558 | ||||||||||||
Leisure Products |
— | 753,799 | — | 753,799 | ||||||||||||
Machinery |
— | 22,344,686 | — | 22,344,686 | ||||||||||||
Marine Transportation |
— | 245,540 | — | 245,540 | ||||||||||||
Media |
— | 153,834,809 | — | 153,834,809 | ||||||||||||
Metals & Mining |
— | 50,815,575 | — | 50,815,575 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) |
— | 155,643 | — | 155,643 | ||||||||||||
Multi-Utilities |
— | 1,545,896 | — | 1,545,896 | ||||||||||||
Offshore Drilling & Other Services |
— | 8,641,926 | — | 8,641,926 | ||||||||||||
Oil, Gas & Consumable Fuels |
174,055 | 224,465,480 | — | 224,639,535 | ||||||||||||
Passenger Airlines |
— | 29,276,262 | — | 29,276,262 | ||||||||||||
Personal Care Products |
— | 188,434 | — | 188,434 | ||||||||||||
Pharmaceuticals |
— | 12,036,153 | — | 12,036,153 | ||||||||||||
Real Estate |
— | 2,123,802 | — | 2,123,802 | ||||||||||||
Real Estate Management & Development |
— | 5,812,578 | — | 5,812,578 | ||||||||||||
Semiconductors & Semiconductor Equipment |
— | 5,279,377 | — | 5,279,377 | ||||||||||||
Software |
— | 56,939,247 | — | 56,939,247 | ||||||||||||
Specialized REITs |
— | 5,723,193 | — | 5,723,193 | ||||||||||||
Specialty Retail |
— | 5,018,070 | — | 5,018,070 | ||||||||||||
Technology Hardware, Storage & Peripherals |
— | 6,031,066 | — | 6,031,066 | ||||||||||||
Textiles, Apparel & Luxury Goods |
189,022 | 3,153,242 | — | 3,342,264 |
74 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Corporate Bonds (continued) |
||||||||||||||||
Transportation Infrastructure |
$ | — | $ | 839,889 | $ | — | $ | 839,889 | ||||||||
Wireless Telecommunication Services |
— | 18,891,943 | — | 18,891,943 | ||||||||||||
Floating Rate Loan Interests |
— | 209,068,583 | 14,339,850 | 223,408,433 | ||||||||||||
Preferred Securities |
||||||||||||||||
Capital Trusts |
— | 15,196,536 | — | 15,196,536 | ||||||||||||
Preferred Stocks |
321,684 | — | 13,234,499 | 13,556,183 | ||||||||||||
Options Purchased |
||||||||||||||||
Equity Contracts |
270,369 | — | — | 270,369 | ||||||||||||
Liabilities |
||||||||||||||||
Unfunded Floating Rate Loan Interests(a) |
— | (20,170 | ) | — | (20,170 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 8,379,728 | $ | 1,845,515,760 | $ | 27,596,585 | 1,881,492,073 | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Investments Valued at NAV(b) |
6,887 | |||||||||||||||
|
|
|||||||||||||||
$ | 1,881,498,960 | |||||||||||||||
|
|
|||||||||||||||
Derivative Financial Instruments(c) |
||||||||||||||||
Assets |
||||||||||||||||
Credit Contracts |
$ | — | $ | 538,211 | $ | — | $ | 538,211 | ||||||||
Foreign Currency Exchange Contracts |
— | 103,226 | — | 103,226 | ||||||||||||
Interest Rate Contracts |
— | 287,928 | — | 287,928 | ||||||||||||
Liabilities |
||||||||||||||||
Credit Contracts |
— | (36,031 | ) | — | (36,031 | ) | ||||||||||
Equity Contracts |
(87,588 | ) | — | — | (87,588 | ) | ||||||||||
Foreign Currency Exchange Contracts |
— | (11,995 | ) | — | (11,995 | ) | ||||||||||
Interest Rate Contracts |
(30,441 | ) | — | — | (30,441 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | (118,029 | ) | $ | 881,339 | $ | — | $ | 763,310 | ||||||||
|
|
|
|
|
|
|
|
(a) | Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment. |
(b) | Certain investments of the Trust were fair valued using NAV as a practical expedient as no quoted market value is available and therefore have been excluded from the fair value hierarchy. |
(c) | Derivative financial instruments are swaps, futures contracts, forward foreign currency exchange contracts and options written. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value. |
Common Stocks |
Floating Rate Loan Interests |
Preferred Stocks |
Total | |||||||||||||
Assets |
||||||||||||||||
Opening balance, as of December 31, 2022 |
$ | 22,236 | $ | 12,296,415 | $ | 12,439,882 | $ | 24,758,533 | ||||||||
Transfers into Level 3 |
— | 2,364,303 | — | 2,364,303 | ||||||||||||
Transfers out of Level 3 |
— | (2,427,075 | ) | — | (2,427,075 | ) | ||||||||||
Accrued discounts/premiums |
— | 15,640 | — | 15,640 | ||||||||||||
Net realized gain (loss) |
— | 549 | — | 549 | ||||||||||||
Net change in unrealized appreciation (depreciation)(a)(b) |
— | 118,401 | 794,617 | 913,018 | ||||||||||||
Purchases |
— | 1,980,625 | — | 1,980,625 | ||||||||||||
Sales |
— | (9,008 | ) | — | (9,008 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Closing balance, as of June 30, 2023 |
$ | 22,236 | $ | 14,339,850 | $ | 13,234,499 | $ | 27,596,585 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2023(b) |
$ | — | $ | 118,401 | $ | 794,618 | $ | 913,019 | ||||||||
|
|
|
|
|
|
|
|
(a) | Included in the related net change in unrealized appreciation (depreciation) in the Consolidated Statements of Operations. |
(b) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2023 is generally due to investments no longer held or categorized as Level 3 at period end. |
C O N S O L I D A T E D S C H E D U L E O F I N V E S T M E N T S |
75 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
76 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities |
||||||||
AGL CLO 12 Ltd.(a)(b) |
||||||||
Series 2021-12A, Class B, (3-mo. LIBOR US + 1.60%), 6.85%, 07/20/34 |
USD | 890 | $ | 874,774 | ||||
Series 2021-12A, Class C, (3-mo. LIBOR US + 1.85%), 7.10%, 07/20/34 |
500 | 485,337 | ||||||
AGL CLO 5 Ltd., Series 2020-5A, Class A1R, (3-mo. LIBOR US + 1.16%), 6.41%, 07/20/34(a)(b) |
1,000 | 982,000 | ||||||
AIG CLO 2019-2 Ltd., Series 2019-2A, Class AR, (3-mo. LIBOR US + 1.10%), 6.36%, 10/25/33(a)(b) |
1,000 | 989,728 | ||||||
AIG CLO 2021-2 LLC, Series 2021-2A, Class B, (3-mo. LIBOR US + 1.75%), 7.00%, 07/20/34(a)(b) |
1,000 | 977,726 | ||||||
AIG CLO LLC(a)(b) |
||||||||
Series 2018-1A, Class A1R, (3-mo. LIBOR US + 1.12%), 6.37%, 04/20/32 |
3,500 | 3,469,346 | ||||||
Series 2021-1A, Class A, (3-mo. LIBOR US + 1.10%), 6.37%, 04/22/34 |
2,000 | 1,970,275 | ||||||
AIMCO CLO 14 Ltd., Series 2021-14A, Class A, (3-mo. LIBOR US + 0.99%), 6.24%, 04/20/34(a)(b) |
3,000 | 2,958,234 | ||||||
Allegro CLO II-S Ltd., Series 2014-1RA, Class B, (3-mo. LIBOR US + 2.15%), 7.41%, 10/21/28(a)(b) |
500 | 493,741 | ||||||
Allegro CLO VI Ltd.(a)(b) |
||||||||
Series 2017-2A, Class B, (3-mo. LIBOR US + 1.50%), 6.76%, 01/17/31 |
360 | 354,082 | ||||||
Series 2017-2A, Class C, (3-mo. LIBOR US + 1.80%), 7.06%, 01/17/31 |
2,400 | 2,301,814 | ||||||
American Airlines, Inc., 5.18%, 08/15/23(c) |
520 | 520,960 | ||||||
Anchorage Capital CLO 3-R Ltd., Series 2014-3RA, Class C, (3-mo. LIBOR US + 1.85%), 7.12%, 01/28/31(a)(b) |
1,000 | 946,198 | ||||||
Anchorage Capital CLO Ltd., Series 2013-1A, Class BR, (3-mo. LIBOR US + 2.15%), 7.39%, 10/13/30(a)(b) |
1,000 | 979,999 | ||||||
Apidos CLO XV, Series 2013-15A, Class DRR, (3-mo. LIBOR US + 2.70%), 7.95%, 04/20/31(a)(b) |
1,000 | 933,118 | ||||||
Apidos CLO XX, Series 2015-20A, Class BRR, (3-mo. LIBOR US + 1.95%), 7.21%, 07/16/31(a)(b) |
1,000 | 973,048 | ||||||
Apidos CLO XXXIII, Series 2020-33A, Class AR, (3-mo. LIBOR US + 1.15%), 6.42%, 10/24/34(a)(b) |
2,000 | 1,962,890 | ||||||
Apidos CLO XXXVII, Series 2021-37A, Class A, (3-mo. LIBOR US + 1.13%), 6.40%, 10/22/34(a)(b) |
3,000 | 2,964,655 | ||||||
Ares XLVII CLO Ltd., Series 2018-47A, Class D, (3-mo. LIBOR US + 2.70%), 7.96%, 04/15/30(a)(b) |
1,500 | 1,346,620 | ||||||
Ares XLVIII CLO Ltd., Series 2018-48A, Class C, (3-mo. LIBOR US + 1.80%), 7.05%, 07/20/30(a)(b) |
500 | 478,981 | ||||||
Ares XXXVII CLO Ltd.(a)(b) |
||||||||
Series 2015-4A, Class A3R, (3-mo. LIBOR US + 1.50%), 6.76%, 10/15/30 |
1,000 | 980,892 | ||||||
Series 2015-4A, Class BR, (3-mo. LIBOR US + 1.80%), 7.06%, 10/15/30 |
1,750 | 1,690,133 | ||||||
Atlas Senior Loan Fund XII Ltd., Series 2018-12A, Class A1, (3-mo. LIBOR US + 1.18%), 6.45%, 10/24/31(a)(b) |
400 | 396,076 | ||||||
Atrium XV, Series 15A, Class C, (3-mo. LIBOR US + 2.20%), 7.47%, 01/23/31(a)(b) |
250 | 246,435 | ||||||
Benefit Street Partners CLO XII Ltd., Series 2017- 12A, Class B, (3-mo. LIBOR US + 2.00%), 7.26%, 10/15/30(a)(b) |
1,000 | 972,656 |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
| |||||||
Benefit Street Partners CLO XVI Ltd., Series 2018- 16A, Class A1R, (3-mo. LIBOR US + 1.03%), 6.29%, 01/17/32(a)(b) |
USD | 1,900 | $ | 1,875,300 | ||||
Canyon CLO Ltd., Series 2020-3A, Class C, (3‑mo. LIBOR US + 2.50%), 7.76%, 01/15/34(a)(b) |
500 | 487,265 | ||||||
Carlyle C17 CLO Ltd., Series C17A, Class BR, (3-mo. LIBOR US + 1.85%), 7.15%, 04/30/31(a)(b) |
1,000 | 975,158 | ||||||
CarVal CLO I Ltd., Series 2018-1A, Class D, (3-mo. LIBOR US + 2.89%), 8.15%, 07/16/31(a)(b) |
500 | 468,893 | ||||||
Cedar Funding XII CLO Ltd., Series 2020-12A, Class A1R, (3-mo. LIBOR US + 1.13%), 6.39%, 10/25/34(a)(b) |
1,000 | 978,430 | ||||||
Cedar Funding XIV CLO Ltd., Series 2021-14A, Class A, (3-mo. LIBOR US + 1.10%), 6.36%, 07/15/33(a)(b) |
2,000 | 1,973,633 | ||||||
CIFC Funding 2020-III Ltd., Series A1R, Class 3A, (3-mo. LIBOR US + 1.13%), 6.38%, 10/20/34(a)(b) |
1,000 | 980,590 | ||||||
CIFC Funding I Ltd., Series 2021-1A, Class A1, (3-mo. LIBOR US + 1.11%), 6.37%, 04/25/33(a)(b) |
1,500 | 1,491,448 | ||||||
CIFC Funding II Ltd.(a)(b) |
||||||||
Series 2019-2A, Class BR, (3-mo. LIBOR US + 1.50%), 6.76%, 04/17/34 |
900 | 880,030 | ||||||
Series 2020-2A, Class AR, (3-mo. LIBOR US + 1.17%), 6.42%, 10/20/34 |
1,200 | 1,178,880 | ||||||
CIFC Funding Ltd.(a)(b) |
||||||||
Series 2013-2A, Class A3LR, (3-mo. LIBOR US + 1.95%), 7.21%, 10/18/30 |
1,000 | 967,663 | ||||||
Series 2018-1A, Class C, (3-mo. LIBOR US + 1.75%), 7.01%, 04/18/31 |
1,000 | 969,828 | ||||||
Series 2018-1A, Class D, (3-mo. LIBOR US + 2.65%), 7.91%, 04/18/31 |
1,200 | 1,131,920 | ||||||
CIFC Funding V Ltd., Series 2019-5A, Class A2RS, (3-mo. LIBOR US + 1.75%), 7.01%, 01/15/35(a)(b) |
1,000 | 995,626 | ||||||
Dryden 77 CLO Ltd., Series 2020-77A, Class AR, (3-mo. LIBOR US + 1.12%), 6.50%, 05/20/34(a)(b) |
3,500 | 3,430,923 | ||||||
Elmwood CLO 15 Ltd., Series 2022-2A, Class A1, (3-mo. CME Term SOFR + 1.34%), 6.41%, 04/22/35(a)(b) |
1,200 | 1,181,653 | ||||||
Elmwood CLO II Ltd., Series 2019-2A, Class AR, (3-mo. LIBOR US + 1.15%), 6.40%, 04/20/34(a)(b) |
2,000 | 1,969,465 | ||||||
Elmwood CLO V Ltd., Series 2022-2A, Class AR, (3-mo. LIBOR US + 1.15%), 6.40%, 10/20/34(a)(b) |
1,000 | 985,967 | ||||||
Elmwood CLO VII Ltd., Series 2020-4A, Class A, (3-mo. LIBOR US + 1.39%), 6.65%, 01/17/34(a)(b) |
2,000 | 1,983,550 | ||||||
Elmwood CLO VIII Ltd., Series 2021-1A, Class A1, (3-mo. LIBOR US + 1.24%), 6.49%, 01/20/34(a)(b) |
2,000 | 1,977,570 | ||||||
Elmwood CLO XII Ltd., Series 2019-2A, Class B, (3-mo. LIBOR US + 1.70%), 6.95%, 01/20/35(a)(b) |
2,000 | 1,936,394 | ||||||
Flatiron CLO 21 Ltd., Series 2021-1A, Class A1, (3-mo. LIBOR US + 1.11%), 6.38%, 07/19/34(a)(b) |
1,931 | 1,895,347 | ||||||
Galaxy XX CLO Ltd., Series 2015-20A, Class D1R, (3-mo. LIBOR US + 2.60%), 7.85%, 04/20/31(a)(b) |
1,000 | 912,462 | ||||||
Generate CLO 2 Ltd.(a)(b) |
||||||||
Series 2A, Class CR, (3-mo. LIBOR US + 1.85%), 7.12%, 01/22/31 |
1,500 | 1,453,526 | ||||||
Series 2A, Class DR, (3-mo. LIBOR US + 2.60%), 7.87%, 01/22/31 |
1,800 | 1,692,359 | ||||||
Generate CLO 6 Ltd., Series A1R, Class 6A, (3-mo. LIBOR US + 1.20%), 6.47%, 01/22/35(a)(b) |
2,500 | 2,449,080 |
S C H E D U L E O F I N V E S T M E N T S |
77 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
| |||||||
Golub Capital Partners CLO 41B-R Ltd., Series 2019- 41A, Class AR, (3-mo. LIBOR US + 1.32%), 6.57%, 01/20/34(a)(b) |
USD | 1,000 | $ | 993,485 | ||||
Golub Capital Partners CLO 52B Ltd., Series 2020- 52A, Class A1, (3-mo. LIBOR US + 1.44%), 6.69%, 01/20/34(a)(b) |
2,000 | 1,982,044 | ||||||
Golub Capital Partners CLO 53B Ltd., Series 2021- 53A, Class B, (3-mo. LIBOR US + 1.80%), 7.05%, 07/20/34(a)(b) |
1,000 | 968,516 | ||||||
HalseyPoint CLO 4 Ltd., Series 2021-4A, Class A, (3-mo. LIBOR US + 1.22%), 6.47%, 04/20/34(a)(b) |
2,000 | 1,963,049 | ||||||
Highbridge Loan Management Ltd.(a)(b) |
||||||||
Series 12A-18, Class B, (3-mo. LIBOR US + 1.85%), 7.11%, 07/18/31 |
1,250 | 1,228,145 | ||||||
Series 4A-2014, Class A2R, (3-mo. LIBOR US + 1.50%), 6.77%, 01/28/30 |
650 | 645,447 | ||||||
HPS Loan Management Ltd., Series 6A-2015, Class BR, (3-mo. LIBOR US + 1.75%), 7.08%, 02/05/31(a)(b) |
1,500 | 1,455,943 | ||||||
Long Point Park CLO Ltd., Series 2017-1A, Class B, (3-mo. LIBOR US + 1.70%), 6.96%, 01/17/30(a)(b) |
1,000 | 968,391 | ||||||
Madison Park Funding L Ltd., Series 2021-50A, Class A, (3-mo. CME Term SOFR + 1.40%), 6.43%, 04/19/34(a)(b) |
1,270 | 1,249,362 | ||||||
Madison Park Funding XIII Ltd., Series 2014-13A, Class CR2, (3-mo. LIBOR US + 1.90%), 7.17%, 04/19/30(a)(b) |
1,000 | 980,689 | ||||||
Madison Park Funding XLVIII Ltd., Series 2021-48A, Class A, (3-mo. LIBOR US + 1.15%), 6.42%, 04/19/33(a)(b) |
1,000 | 991,310 | ||||||
Madison Park Funding XXVII Ltd.(a)(b) |
||||||||
Series 2018-27A, Class B, (3-mo. LIBOR US + 1.80%), 7.05%, 04/20/30 |
1,000 | 974,822 | ||||||
Series 2018-27A, Class C, (3-mo. LIBOR US + 2.60%), 7.85%, 04/20/30 |
1,000 | 945,115 | ||||||
Madison Park Funding XXXVIII Ltd., Series 2021- 38A, Class A, (3-mo. LIBOR US + 1.12%), 6.38%, 07/17/34(a)(b) |
1,070 | 1,054,116 | ||||||
Marble Point CLO XI Ltd., Series 2017-2A, Class B, (3-mo. LIBOR US + 1.50%), 6.76%, 12/18/30(a)(b) |
1,000 | 963,745 | ||||||
MP CLO III Ltd., Series 2013-1A, Class CR, (3-mo. LIBOR US + 2.00%), 7.25%, 10/20/30(a)(b) |
1,000 | 967,063 | ||||||
Neuberger Berman CLO XXII Ltd.(a)(b) |
||||||||
Series 2016-22A, Class BR, (3-mo. LIBOR US + 1.65%), 6.91%, 10/17/30 |
400 | 398,113 | ||||||
Series 2016-22A, Class CR, (3-mo. LIBOR US + 2.20%), 7.46%, 10/17/30 |
1,000 | 978,184 | ||||||
Neuberger Berman Loan Advisers CLO 26 Ltd., |
||||||||
Series 2017-26A, Class C, (3-mo. LIBOR US + 1.75%), 7.01%, 10/18/30(a)(b) |
1,500 | 1,458,399 | ||||||
Neuberger Berman Loan Advisers CLO 27 Ltd., |
||||||||
Series 2018-27A, Class D, (3-mo. LIBOR US + 2.60%), 7.86%, 01/15/30(a)(b) |
1,000 | 942,843 | ||||||
Neuberger Berman Loan Advisers CLO 35 Ltd., |
||||||||
Series 2019-35A, Class A1, (3-mo. LIBOR US + 1.34%), 6.61%, 01/19/33(a)(b) |
1,000 | 993,585 | ||||||
Neuberger Berman Loan Advisers CLO 45 Ltd., |
||||||||
Series 2021-45A, Class A, (3-mo. LIBOR US + 1.13%), 6.38%, 10/14/35(a)(b) |
3,000 | 2,943,000 |
Security | Par (000) |
Value | ||||||
Asset-Backed Securities (continued) |
| |||||||
Neuberger Berman Loan Advisers CLO 47 Ltd., |
||||||||
Series 2022-47A, Class A, (3-mo. CME Term SOFR + 1.30%), 6.29%, 04/14/35(a)(b) |
USD | 1,000 | $ | 981,934 | ||||
OCP CLO Ltd.(a)(b) |
||||||||
Series 2014-6A, Class BR, (3-mo. LIBOR US + 2.15%), 7.41%, 10/17/30 |
500 | 489,140 | ||||||
Series 2016-11A, Class BR, (3-mo. LIBOR US + 2.45%), 7.72%, 10/26/30 |
1,500 | 1,472,792 | ||||||
Series 2017-14A, Class B, (3-mo. LIBOR US + 1.95%), 7.33%, 11/20/30 |
1,000 | 974,716 | ||||||
Octagon Investment Partners 26 Ltd., Series 2016- 1A, Class DR, (3-mo. LIBOR US + 2.85%), 8.11%, 07/15/30(a)(b) |
500 | 439,568 | ||||||
Octagon Investment Partners 34 Ltd., Series 2017- 1A, Class B1, (3-mo. LIBOR US + 1.40%), 6.65%, 01/20/30(a)(b) |
1,000 | 977,026 | ||||||
Octagon Investment Partners XVII Ltd.(a)(b) |
||||||||
Series 2013-1A, Class BR2, (3-mo. LIBOR US + 1.40%), 6.66%, 01/25/31 |
1,000 | 973,113 | ||||||
Series 2013-1A, Class CR2, (3-mo. LIBOR US + 1.70%), 6.96%, 01/25/31 |
1,000 | 945,078 | ||||||
Octagon Investment Partners XXII Ltd., Series 2014- 1A, Class CRR, (3-mo. LIBOR US + 1.90%), 7.17%, 01/22/30(a)(b) |
900 | 864,501 | ||||||
OHA Credit Funding 10 Ltd., Series 2021-10A, Class A, (3-mo. LIBOR US + 1.13%), 6.39%, 01/18/36(a)(b) |
1,500 | 1,484,942 | ||||||
OHA Credit Funding 3 Ltd., Series 2019-3A, Class AR, (3-mo. LIBOR US + 1.14%), 6.39%, 07/02/35(a)(b) |
1,750 | 1,725,409 | ||||||
OHA Credit Funding 5 Ltd., Series 2020-5A, Class A1, (3-mo. LIBOR US + 1.17%), 6.43%, 04/18/33(a)(b) |
1,000 | 994,109 | ||||||
OHA Credit Funding 7 Ltd., Series 2020-7A, Class AR, (3-mo. CME Term SOFR + 1.30%), 6.33%, 02/24/37(a)(b) |
1,250 | 1,228,986 | ||||||
OHA Credit Partners XII Ltd., Series 2015-12A, Class DR, (3-mo. LIBOR US + 2.90%), 8.17%, 07/23/30(a)(b) |
600 | 568,555 | ||||||
OHA Credit Partners XVI, Series 2021-16A, Class A, (3-mo. LIBOR US + 1.15%), 6.41%, 10/18/34(a)(b) |
750 | 739,971 | ||||||
OZLM XXI Ltd., Series 2017-21A, Class B, (3-mo. LIBOR US + 1.90%), 7.15%, 01/20/31(a)(b) |
1,800 | 1,752,081 | ||||||
Palmer Square CLO Ltd.(a)(b) |
||||||||
Series 2015-1A, Class A2R4, (3-mo. LIBOR US + 1.70%), 7.08%, 05/21/34 |
2,500 | 2,459,165 | ||||||
Series 2018-1A, Class A2, (3-mo. LIBOR US + 1.45%), 6.71%, 04/18/31 |
1,500 | 1,486,512 | ||||||
Series 2019-1A, Class CR, (3-mo. LIBOR US + 3.05%), 8.37%, 11/14/34 |
1,000 | 937,039 | ||||||
Series 2020-3A, Class A1AR, (3-mo. LIBOR US + 1.08%), 6.40%, 11/15/31 |
1,500 | 1,486,664 | ||||||
Series 2021-2A, Class A, (3-mo. LIBOR US + 1.15%), 6.41%, 07/15/34 |
2,000 | 1,972,653 | ||||||
Series 2021-4A, Class B, (3-mo. LIBOR US + 1.65%), 6.91%, 10/15/34 |
1,250 | 1,234,760 | ||||||
Regatta VI Funding Ltd., Series 2016-1A, Class AR2, (3-mo. LIBOR US + 1.16%), 6.41%, 04/20/34(a)(b) |
2,000 | 1,977,068 | ||||||
Regatta VII Funding Ltd., Series 2016-1A, Class DR2, (3-mo. LIBOR US + 3.05%), 8.56%, 06/20/34(a)(b) |
500 | 475,599 |
78 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Asset-Backed Securities (continued) |
| |||||||||||
Regatta XV Funding Ltd., Series 2018-4A, Class A2, (3-mo. LIBOR US + 1.85%), 7.11%, 10/25/31(a)(b) |
USD | 1,200 | $ | 1,180,859 | ||||||||
Regatta XVI Funding Ltd.(a)(b) |
||||||||||||
Series 2019-2A, Class C, (3-mo. LIBOR US + 2.70%), 7.96%, 01/15/33 |
1,000 | 1,007,213 | ||||||||||
Series 2019-2A, Class D, (3-mo. LIBOR US + 3.90%), 9.16%, 01/15/33 |
1,000 | 976,276 | ||||||||||
Regatta XVIII Funding Ltd., Series 2021-1A, Class B, (3-mo. LIBOR US + 1.45%), 6.71%, 01/15/34(a)(b) |
1,000 | 977,868 | ||||||||||
Rockford Tower CLO Ltd.(a)(b) |
||||||||||||
Series 2017-3A, Class A, (3-mo. LIBOR US + 1.19%), 6.44%, 10/20/30 |
1,908 | 1,897,011 | ||||||||||
Series 2017-3A, Class D, (3-mo. LIBOR US + 2.65%), 7.90%, 10/20/30 |
1,000 | 929,780 | ||||||||||
RR 5 Ltd., Series 2018-5A, Class C, (3-mo. LIBOR US + 3.10%), 8.36%, 10/15/31(a)(b) |
650 | 601,753 | ||||||||||
Signal Peak CLO 8 Ltd.(a)(b) |
||||||||||||
Series 2020-8A, Class A, (3-mo. LIBOR US + 1.27%), 6.52%, 04/20/33 |
6,000 | 5,925,000 | ||||||||||
Series 2020-8A, Class B, (3-mo. LIBOR US + 1.65%), 6.90%, 04/20/33 |
1,650 | 1,625,377 | ||||||||||
Sixth Street CLO XX Ltd., Series 2021-20A, Class A1, (3-mo. LIBOR US + 1.16%), 6.41%, 10/20/34(a)(b) |
1,325 | 1,303,137 | ||||||||||
Sound Point CLO XXI Ltd., Series 2018-3A, Class A1A, (3-mo. LIBOR US + 1.18%), 6.45%, 10/26/31(a)(b) |
1,400 | 1,384,768 | ||||||||||
Stewart Park CLO Ltd., Series 2015-1A, Class DR, (3-mo. LIBOR US + 2.60%), 7.86%, 01/15/30(a)(b) |
1,500 | 1,340,414 | ||||||||||
Symphony CLO XXVIII Ltd., Series 2021-28A, Class A, (3-mo. LIBOR US + 1.14%), 6.41%, 10/23/34(a)(b) |
1,900 | 1,877,153 | ||||||||||
Tiaa CLO III Ltd., Series 2017-2A, Class A, (3‑mo. LIBOR US + 1.15%), 6.41%, 01/16/31(a)(b) |
2,409 | 2,392,059 | ||||||||||
TICP CLO IX Ltd., Series 2017-9A, Class A, (3‑mo. LIBOR US + 1.14%), 6.39%, 01/20/31(a)(b) |
963 | 956,579 | ||||||||||
TICP CLO VI Ltd., Series 2016-6A, Class AR2, (3‑mo. LIBOR US + 1.12%), 6.38%, 01/15/34(a)(b) |
2,000 | 1,980,672 | ||||||||||
TICP CLO X Ltd., Series 2018-10A, Class B, (3‑mo. LIBOR US + 1.47%), 6.72%, 04/20/31(a)(b) |
1,300 | 1,277,278 | ||||||||||
TICP CLO XII Ltd., Series 2018-12A, Class BR, (3-mo. LIBOR US + 1.65%), 6.91%, 07/15/34(a)(b) |
1,000 | 974,074 | ||||||||||
TICP CLO XIV Ltd., Series 2019-14A, Class A2R, (3-mo. LIBOR US + 1.65%), 6.90%, 10/20/32(a)(b) |
1,750 | 1,722,116 | ||||||||||
Trimaran CAVU Ltd.(a)(b) |
||||||||||||
Series 2021-2A, Class B1, (3-mo. LIBOR US + 1.75%), 7.01%, 10/25/34 |
1,500 | 1,460,227 | ||||||||||
Series 2022-2A, Class A, (3-mo. CME Term SOFR + 2.50%), 7.55%, 01/20/36 |
2,500 | 2,517,454 | ||||||||||
Series 2022-2A, Class B1, (3-mo. CME Term SOFR + 3.40%), 8.45%, 01/20/36 |
1,500 | 1,512,677 | ||||||||||
Whitebox CLO I Ltd., Series 2019-1A, Class ANAR, (3-mo. LIBOR US + 1.13%), 6.40%, 07/24/32(a)(b) |
1,000 | 987,653 | ||||||||||
Whitebox CLO IV Ltd.(a)(b) |
||||||||||||
Series 2023-4A, Class A1, (3-mo. CME Term SOFR + 2.15%), 6.93%, 04/20/36 |
2,000 | 1,992,271 |
Security | Par (000) |
Value | ||||||||||
Asset-Backed Securities (continued) |
| |||||||||||
Whitebox CLO IV Ltd.(a)(b) (continued) |
||||||||||||
Series 2023-4A, Class B1, (3-mo. CME Term SOFR + 2.60%), 7.38%, 04/20/36 |
USD | 1,000 | $ | 988,629 | ||||||||
York CLO 1 Ltd., Series 2014-1A, Class ARR, (3-mo. LIBOR US + 1.12%), 6.39%, 10/22/29(a)(b) |
1,563 | 1,548,832 | ||||||||||
|
|
|||||||||||
Total Asset-Backed Securities — 15.7% (Cost: $165,212,405) |
|
164,496,555 | ||||||||||
|
|
|||||||||||
Corporate Bonds |
||||||||||||
Aerospace & Defense — 4.8% | ||||||||||||
Boeing Co., 5.15%, 05/01/30(d) |
6,775 | 6,709,622 | ||||||||||
Bombardier, Inc.(b) |
||||||||||||
7.50%, 03/15/25 |
42 | 42,072 | ||||||||||
7.13%, 06/15/26(d) |
1,322 | 1,313,093 | ||||||||||
7.88%, 04/15/27(d) |
1,347 | 1,343,532 | ||||||||||
7.50%, 02/01/29(d) |
1,713 | 1,693,035 | ||||||||||
7.45%, 05/01/34 |
327 | 372,780 | ||||||||||
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26(b) |
1,000 | 905,000 | ||||||||||
General Dynamics Corp., 4.25%, 04/01/50(d) |
1,260 | 1,154,978 | ||||||||||
Howmet Aerospace, Inc., 5.13%, 10/01/24 |
39 | 38,562 | ||||||||||
Moog, Inc., 4.25%, 12/15/27(b) |
320 | 296,123 | ||||||||||
Northrop Grumman Corp.(d) |
||||||||||||
4.03%, 10/15/47 |
2,400 | 2,061,860 | ||||||||||
5.25%, 05/01/50 |
3,050 | 3,099,655 | ||||||||||
Raytheon Technologies Corp.(d) |
||||||||||||
4.63%, 11/16/48 |
2,805 | 2,616,902 | ||||||||||
3.13%, 07/01/50 |
3,545 | 2,567,148 | ||||||||||
Rolls-Royce PLC(b) |
||||||||||||
3.63%, 10/14/25 |
200 | 188,946 | ||||||||||
5.75%, 10/15/27 |
1,933 | 1,889,999 | ||||||||||
Spirit AeroSystems, Inc.(b) |
||||||||||||
7.50%, 04/15/25 |
332 | 328,052 | ||||||||||
9.38%, 11/30/29 |
974 | 1,042,740 | ||||||||||
TransDigm, Inc. |
||||||||||||
6.25%, 03/15/26(b)(d) |
16,639 | 16,557,682 | ||||||||||
6.38%, 06/15/26 |
8 | 7,896 | ||||||||||
7.50%, 03/15/27 |
432 | 432,614 | ||||||||||
6.75%, 08/15/28(b) |
3,929 | 3,943,891 | ||||||||||
Triumph Group, Inc., 9.00%, 03/15/28(b) |
1,348 | 1,376,361 | ||||||||||
|
|
|||||||||||
49,982,543 | ||||||||||||
Automobile Components — 1.4% |
||||||||||||
Clarios Global LP, 6.75%, 05/15/25(b) |
631 | 631,386 | ||||||||||
Clarios Global LP/Clarios U.S. Finance Co. |
||||||||||||
4.38%, 05/15/26(e) |
EUR | 246 | 255,442 | |||||||||
6.25%, 05/15/26(b)(d) |
USD | 4,933 | 4,901,233 | |||||||||
8.50%, 05/15/27(b)(d) |
6,981 | 6,992,421 | ||||||||||
6.75%, 05/15/28 |
1,200 | 1,195,803 | ||||||||||
Goodyear Tire & Rubber Co. |
||||||||||||
5.00%, 07/15/29(d) |
207 | 186,659 | ||||||||||
5.63%, 04/30/33 |
53 | 46,140 | ||||||||||
SK On Co. Ltd., 5.38%, 05/11/26(e) |
200 | 198,600 | ||||||||||
|
|
|||||||||||
14,407,684 | ||||||||||||
Automobiles — 1.5% |
||||||||||||
Asbury Automotive Group, Inc. |
||||||||||||
4.50%, 03/01/28 |
197 | 180,611 | ||||||||||
5.00%, 02/15/32(b) |
293 | 255,114 |
S C H E D U L E O F I N V E S T M E N T S |
79 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Automobiles (continued) |
|
|||||||||||
Ford Motor Co. |
||||||||||||
3.25%, 02/12/32(d) |
USD | 908 | $ | 714,309 | ||||||||
6.10%, 08/19/32 |
5,265 | 5,102,607 | ||||||||||
Ford Motor Credit Co. LLC |
||||||||||||
5.13%, 06/16/25 |
1,270 | 1,235,113 | ||||||||||
2.70%, 08/10/26 |
613 | 547,271 | ||||||||||
4.95%, 05/28/27(d) |
400 | 377,315 | ||||||||||
6.80%, 05/12/28 |
886 | 886,812 | ||||||||||
5.11%, 05/03/29 |
200 | 185,482 | ||||||||||
7.35%, 03/06/30 |
635 | 648,489 | ||||||||||
3.63%, 06/17/31 |
256 | 209,824 | ||||||||||
General Motors Co.(d) |
||||||||||||
6.25%, 10/02/43 |
940 | 919,227 | ||||||||||
5.95%, 04/01/49 |
3,455 | 3,228,267 | ||||||||||
Hyundai Capital America(e) |
||||||||||||
5.50%, 03/30/26 |
200 | 198,194 | ||||||||||
2.38%, 10/15/27 |
200 | 174,979 | ||||||||||
Jaguar Land Rover Automotive PLC, 4.50%, 10/01/27(e) |
500 | 439,299 | ||||||||||
LCM Investments Holdings II LLC, 4.88%, 05/01/29(b) |
456 | 390,218 | ||||||||||
Lithia Motors, Inc., 3.88%, 06/01/29(b) |
269 | 233,722 | ||||||||||
TML Holdings Pte. Ltd., 4.35%, 06/09/26(d)(e) |
200 | 186,282 | ||||||||||
|
|
|||||||||||
16,113,135 | ||||||||||||
Banks — 4.1% |
||||||||||||
ABQ Finance Ltd., 3.13%, 09/24/24(d)(e) |
200 | 192,938 | ||||||||||
Abu Dhabi Commercial Bank PJSC, 3.50%, 03/31/27(e) |
212 | 200,206 | ||||||||||
Agricultural Bank of China Ltd., 1.25%, 01/19/26(e) |
200 | 181,364 | ||||||||||
Australia & New Zealand Banking Group Ltd., (5-year CMT + 1.70%), 2.57%, 11/25/35(a)(b)(d) |
5,445 | 4,136,102 | ||||||||||
Bangkok Bank PCL |
||||||||||||
4.45%, 09/19/28(e) |
200 | 193,030 | ||||||||||
(5-year CMT + 1.90%), 3.73%, 09/25/34(a)(e) |
200 | 170,366 | ||||||||||
(5-year CMT + 4.73%), 5.00% |
222 | 210,540 | ||||||||||
Bank Mandiri Persero Tbk PT, 5.50%, 04/04/26(e) |
200 | 199,272 | ||||||||||
Bank Negara Indonesia Persero Tbk PT, 3.75%, 03/30/26(d)(e) |
200 | 184,328 | ||||||||||
Bank of China Ltd.(e) |
||||||||||||
1.00%, 11/02/24 |
200 | 188,336 | ||||||||||
1.40%, 04/28/26 |
200 | 180,074 | ||||||||||
Bank of East Asia Ltd., (5-year CMT + 5.53%), 5.83%(a)(e)(f) |
750 | 653,738 | ||||||||||
China Construction Bank Corp., (5-year CMT + 2.15%), 2.45%, 06/24/30(a)(e) |
200 | 187,878 | ||||||||||
Citigroup, Inc., (1-day SOFR + 2.66%), 6.17%, 05/25/34(d) |
2,740 | 2,763,872 | ||||||||||
Industrial & Commercial Bank of China Ltd., 2.95%, 06/01/25(e) |
200 | 190,926 | ||||||||||
Industrial & Commercial Bank of China Macau Ltd., (5-year CMT + 1.65%), 2.88%, 09/12/29(a)(e) |
200 | 192,734 | ||||||||||
Intesa Sanpaolo SpA, 5.71%, 01/15/26(b)(d) |
9,840 | 9,367,977 | ||||||||||
Kasikornbank PCL(a)(e) |
||||||||||||
(5-year CMT + 1.70%), 3.34%, 10/02/31(d) |
468 | 413,244 | ||||||||||
(5-year CMT + 3.34%), 4.00%(f) |
300 | 254,295 | ||||||||||
Kasikornbank PCL/Hong Kong, 5.46%, 03/07/28(e) |
200 | 200,564 | ||||||||||
Macquarie Bank Ltd., 6.80%, 01/18/33(b)(d) |
5,110 | 5,127,314 | ||||||||||
NongHyup Bank, 4.00%, 01/06/26(e) |
200 | 192,314 | ||||||||||
QNB Finance Ltd., 2.63%, 05/12/25(e) |
200 | 189,304 | ||||||||||
Shinhan Financial Group Co. Ltd., 1.35%, 01/10/26(e) |
200 | 180,242 |
Security | Par (000) |
Value | ||||||||||
Banks (continued) |
|
|||||||||||
SNB Funding Ltd., 2.75%, 10/02/24(e) |
USD | 200 | $ | 192,490 | ||||||||
Truist Financial Corp., (1-day SOFR + 2.05%), 6.05%, 06/08/27(d) |
9,310 | 9,313,865 | ||||||||||
United Overseas Bank Ltd., 1.25%, 04/14/26(e) |
200 | 179,496 | ||||||||||
Wells Fargo & Co.(d) |
||||||||||||
5.61%, 01/15/44 |
4,119 | 3,954,313 | ||||||||||
(1-day SOFR + 1.51%), 3.53%, 03/24/28(a) |
4,075 | 3,803,399 | ||||||||||
|
|
|||||||||||
43,394,521 | ||||||||||||
Beverages — 2.7% |
||||||||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46(d) |
6,170 | 5,897,229 | ||||||||||
Anheuser-Busch InBev Worldwide, Inc., 5.55%, 01/23/49(d) |
5,000 | 5,269,968 | ||||||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27(b)(d)(g) |
2,781 | 2,253,016 | ||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC(b) |
||||||||||||
6.00%, 06/15/27 |
509 | 500,024 | ||||||||||
3.25%, 09/01/28 |
200 | 171,794 | ||||||||||
4.00%, 09/01/29(d) |
3,414 | 2,703,867 | ||||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. |
||||||||||||
5.25%, 04/30/25(b) |
200 | 195,619 | ||||||||||
2.13%, 08/15/26(e) |
EUR | 304 | 294,438 | |||||||||
5.25%, 08/15/27(b) |
USD | 200 | 169,416 | |||||||||
Ball Corp. |
||||||||||||
5.25%, 07/01/25 |
30 | 29,741 | ||||||||||
6.00%, 06/15/29(d) |
290 | 287,825 | ||||||||||
3.13%, 09/15/31(d) |
234 | 192,481 | ||||||||||
Canpack SA/Canpack U.S. LLC, 3.13%, 11/01/25(b) |
228 | 208,050 | ||||||||||
Crown Cork & Seal Co., Inc., 7.38%, 12/15/26 |
151 | 156,100 | ||||||||||
Mauser Packaging Solutions Holding Co.(b) |
||||||||||||
7.88%, 08/15/26(d) |
4,571 | 4,541,327 | ||||||||||
9.25%, 04/15/27 |
154 | 142,142 | ||||||||||
Owens-Brockway Glass Container, Inc., 6.63%, 05/13/27(b) |
59 | 58,420 | ||||||||||
Trivium Packaging Finance BV(b) |
||||||||||||
5.50%, 08/15/26 |
2,830 | 2,717,237 | ||||||||||
8.50%, 08/15/27 |
2,393 | 2,303,542 | ||||||||||
|
|
|||||||||||
28,092,236 | ||||||||||||
Biotechnology — 0.6% |
||||||||||||
Baxalta, Inc., 5.25%, 06/23/45(d) |
6,000 | 5,913,841 | ||||||||||
|
|
|||||||||||
Broadline Retail — 0.1% |
||||||||||||
Alibaba Group Holding Ltd. |
||||||||||||
3.60%, 11/28/24 |
200 | 193,608 | ||||||||||
2.70%, 02/09/41 |
200 | 134,218 | ||||||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26(b) |
222 | 206,636 | ||||||||||
|
|
|||||||||||
534,462 | ||||||||||||
Building Materials — 0.8% |
||||||||||||
Camelot Return Merger Sub, Inc., 8.75%, 08/01/28(b) |
336 | 317,518 | ||||||||||
Emerald Debt Merger Sub LLC, 6.63%, 12/15/30(b) |
3,889 | 3,854,971 | ||||||||||
Jeld-Wen, Inc., 4.63%, 12/15/25(b) |
257 | 248,969 | ||||||||||
Masonite International Corp., Class C, 5.38%, 02/01/28(b) |
235 | 224,007 | ||||||||||
New Enterprise Stone & Lime Co., Inc., 5.25%, 07/15/28(b) |
163 | 148,335 |
80 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Building Materials (continued) |
|
|||||||||||
Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/28(b) |
USD | 1,232 | $ | 1,161,830 | ||||||||
Standard Industries, Inc. |
||||||||||||
2.25%, 11/21/26(e) |
EUR | 156 | 150,902 | |||||||||
5.00%, 02/15/27(b) |
USD | 412 | 392,656 | |||||||||
4.75%, 01/15/28(b) |
26 | 24,212 | ||||||||||
4.38%, 07/15/30(b) |
1,513 | 1,310,405 | ||||||||||
3.38%, 01/15/31(b) |
350 | 281,765 | ||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(b) |
90 | 85,029 | ||||||||||
|
|
|||||||||||
8,200,599 | ||||||||||||
Building Products — 1.0% |
||||||||||||
Advanced Drainage Systems, Inc.(b) |
||||||||||||
5.00%, 09/30/27 |
173 | 163,730 | ||||||||||
6.38%, 06/15/30 |
724 | 716,232 | ||||||||||
Beacon Roofing Supply, Inc., 4.13%, 05/15/29(b) |
86 | 76,110 | ||||||||||
GYP Holdings III Corp., 4.63%, 05/01/29(b) |
350 | 308,000 | ||||||||||
Lowe’s Cos., Inc., 5.63%, 04/15/53(d) |
4,345 | 4,342,397 | ||||||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26(b) |
113 | 106,763 | ||||||||||
SRS Distribution, Inc.(b) |
||||||||||||
4.63%, 07/01/28 |
904 | 807,069 | ||||||||||
6.13%, 07/01/29(d) |
1,046 | 903,359 | ||||||||||
6.00%, 12/01/29(d) |
763 | 658,507 | ||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28(b)(d) |
2,117 | 1,918,531 | ||||||||||
White Cap Parent LLC, (8.25% Cash or 9.00% PIK), 8.25%, 03/15/26(b)(g) |
96 | 91,961 | ||||||||||
|
|
|||||||||||
10,092,659 | ||||||||||||
Capital Markets — 1.3% |
||||||||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29(b) |
447 | 391,803 | ||||||||||
Gaci First Investment Co., 4.88%, 02/14/35(e) |
200 | 190,988 | ||||||||||
GLP Capital LP/GLP Financing II, Inc., 3.25%, 01/15/32 |
725 | 585,375 | ||||||||||
Huarong Finance 2019 Co. Ltd., 2.13%, 09/30/23(e) |
200 | 197,024 | ||||||||||
Huarong Finance II Co. Ltd., 4.63%, 06/03/26(e) |
200 | 177,456 | ||||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
||||||||||||
6.25%, 05/15/26(d) |
807 | 734,463 | ||||||||||
5.25%, 05/15/27(d) |
2,570 | 2,216,367 | ||||||||||
4.38%, 02/01/29 |
651 | 511,491 | ||||||||||
Jefferies Financial Group, Inc., 5.50%, 10/18/23(d) |
4,000 | 3,986,128 | ||||||||||
NFP Corp.(b) |
||||||||||||
4.88%, 08/15/28(d) |
112 | 100,037 | ||||||||||
6.88%, 08/15/28 |
784 | 680,528 | ||||||||||
7.50%, 10/01/30 |
170 | 164,595 | ||||||||||
State Street Corp., (1-day SOFR + 1.72%), 5.82%, 11/04/28(a)(d) |
2,925 | 2,995,963 | ||||||||||
Temasek Financial I Ltd., 2.38%, 08/02/41(e) |
250 | 191,920 | ||||||||||
|
|
|||||||||||
13,124,138 | ||||||||||||
Chemicals — 2.7% |
||||||||||||
Avient Corp., 7.13%, 08/01/30(b) |
180 | 182,056 | ||||||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29(b) |
940 | 800,175 | ||||||||||
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27(b)(d) |
597 | 562,701 | ||||||||||
Bluestar Finance Holdings Ltd., 3.38%, 07/16/24(e) |
200 | 194,398 | ||||||||||
Chemours Co.(b) |
||||||||||||
5.75%, 11/15/28 |
68 | 62,485 | ||||||||||
4.63%, 11/15/29 |
261 | 220,575 | ||||||||||
CNAC HK Finbridge Co. Ltd., 2.00%, 09/22/25(e) |
300 | 273,954 |
Security | Par (000) |
Value | ||||||||||
Chemicals (continued) |
|
|||||||||||
DuPont de Nemours, Inc., 5.42%, 11/15/48(d) |
USD | 7,500 | $ | 7,394,231 | ||||||||
Element Solutions, Inc., 3.88%, 09/01/28(b) |
3,039 | 2,651,151 | ||||||||||
GC Treasury Center Co. Ltd., 2.98%, 03/18/31(e) |
200 | 165,364 | ||||||||||
Herens Holdco SARL, 4.75%, 05/15/28(b) |
490 | 379,750 | ||||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(b)(d) |
445 | 387,755 | ||||||||||
Ingevity Corp., 3.88%, 11/01/28(b) |
100 | 85,377 | ||||||||||
LG Chem Ltd., 2.38%, 07/07/31(e) |
200 | 162,960 | ||||||||||
LYB Finance Co. BV, 8.10%, 03/15/27(b) |
6,000 | 6,472,366 | ||||||||||
NOVA Chemicals Corp., 4.88%, 06/01/24(b) |
240 | 234,475 | ||||||||||
Olympus Water U.S. Holding Corp., 9.75%, 11/15/28(b) |
796 | 776,339 | ||||||||||
SCIL IV LLC/SCIL USA Holdings LLC, 5.38%, 11/01/26(b)(d) |
480 | 437,588 | ||||||||||
Scotts Miracle-Gro Co., 4.00%, 04/01/31 |
250 | 195,499 | ||||||||||
SK Invictus Intermediate II SARL, 5.00%, 10/30/29(b) |
877 | 696,891 | ||||||||||
UPL Corp. Ltd., (5-year CMT + 3.87%), 5.25%(a)(e)(f) |
500 | 407,055 | ||||||||||
WESCO Distribution, Inc.(b) |
||||||||||||
7.13%, 06/15/25 |
1,485 | 1,500,644 | ||||||||||
7.25%, 06/15/28(d) |
1,384 | 1,411,757 | ||||||||||
WR Grace Holdings LLC(b) |
||||||||||||
4.88%, 06/15/27 |
224 | 207,745 | ||||||||||
5.63%, 08/15/29(d) |
2,101 | 1,721,349 | ||||||||||
7.38%, 03/01/31 |
345 | 338,093 | ||||||||||
|
|
|||||||||||
27,922,733 | ||||||||||||
Commercial Services & Supplies(b) — 1.4% |
||||||||||||
ADT Security Corp. |
||||||||||||
4.13%, 08/01/29 |
91 | 78,601 | ||||||||||
4.88%, 07/15/32 |
77 | 65,835 | ||||||||||
AerCap Global Aviation Trust, (3-mo. CME Term SOFR + 4.56%), 6.50%, 06/15/45(a) |
5,000 | 4,832,893 | ||||||||||
APX Group, Inc., 5.75%, 07/15/29 |
555 | 481,686 | ||||||||||
Cablevision Lightpath LLC, 3.88%, 09/15/27 |
368 | 308,200 | ||||||||||
Fortress Transportation and Infrastructure Investors LLC |
||||||||||||
6.50%, 10/01/25 |
966 | 951,668 | ||||||||||
9.75%, 08/01/27 |
298 | 307,766 | ||||||||||
5.50%, 05/01/28(d) |
1,180 | 1,079,704 | ||||||||||
Garda World Security Corp., 9.50%, 11/01/27 |
84 | 81,152 | ||||||||||
Herc Holdings, Inc., 5.50%, 07/15/27(d) |
1,117 | 1,070,250 | ||||||||||
Hertz Corp., 5.00%, 12/01/29(d) |
439 | 362,893 | ||||||||||
LABL, Inc., 9.50%, 11/01/28 |
710 | 722,344 | ||||||||||
Metis Merger Sub LLC, 6.50%, 05/15/29 |
310 | 267,407 | ||||||||||
NESCO Holdings II, Inc., 5.50%, 04/15/29 |
356 | 318,620 | ||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc. |
||||||||||||
5.75%, 04/15/26 |
637 | 625,297 | ||||||||||
6.25%, 01/15/28(d) |
804 | 753,188 | ||||||||||
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29(d) |
882 | 685,755 | ||||||||||
Williams Scotsman International, Inc. |
||||||||||||
6.13%, 06/15/25 |
823 | 816,894 | ||||||||||
4.63%, 08/15/28 |
541 | 494,511 | ||||||||||
|
|
|||||||||||
14,304,664 | ||||||||||||
Communications Equipment(b) — 0.4% |
||||||||||||
CommScope Technologies LLC, 6.00%, 06/15/25(d) |
942 | 878,009 | ||||||||||
CommScope, Inc. |
||||||||||||
8.25%, 03/01/27 |
506 | 404,791 | ||||||||||
4.75%, 09/01/29(d) |
1,098 | 865,664 |
S C H E D U L E O F I N V E S T M E N T S |
81 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Communications Equipment (continued) |
|
|||||||||||
Viasat, Inc. |
||||||||||||
5.63%, 09/15/25 |
USD | 1,078 | $ | 1,044,571 | ||||||||
5.63%, 04/15/27 |
243 | 226,880 | ||||||||||
Viavi Solutions, Inc., 3.75%, 10/01/29 |
561 | 476,684 | ||||||||||
|
|
|||||||||||
3,896,599 | ||||||||||||
Construction Materials(b) — 0.1% |
||||||||||||
American Builders & Contractors Supply Co., Inc., 3.88%, 11/15/29 |
24 | 20,488 | ||||||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27 |
568 | 528,242 | ||||||||||
H&E Equipment Services, Inc., 3.88%, 12/15/28 |
132 | 114,283 | ||||||||||
Resideo Funding, Inc., 4.00%, 09/01/29 |
97 | 80,471 | ||||||||||
Ritchie Bros Holdings, Inc., 6.75%, 03/15/28 |
117 | 117,927 | ||||||||||
|
|
|||||||||||
861,411 | ||||||||||||
Consumer Discretionary(b) — 1.4% |
||||||||||||
Carnival Corp. |
||||||||||||
10.50%, 02/01/26 |
733 | 770,539 | ||||||||||
7.63%, 03/01/26(d) |
273 | 267,376 | ||||||||||
5.75%, 03/01/27 |
1,311 | 1,206,893 | ||||||||||
9.88%, 08/01/27 |
957 | 996,844 | ||||||||||
4.00%, 08/01/28 |
434 | 384,750 | ||||||||||
6.00%, 05/01/29(d) |
936 | 835,693 | ||||||||||
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/28 |
3,281 | 3,588,524 | ||||||||||
CoreLogic, Inc., 4.50%, 05/01/28(d) |
1,155 | 931,219 | ||||||||||
Life Time, Inc. |
||||||||||||
5.75%, 01/15/26 |
256 | 249,480 | ||||||||||
8.00%, 04/15/26 |
254 | 250,795 | ||||||||||
Lindblad Expeditions LLC, 6.75%, 02/15/27 |
480 | 457,200 | ||||||||||
NCL Corp. Ltd. |
||||||||||||
5.88%, 03/15/26 |
244 | 228,278 | ||||||||||
8.38%, 02/01/28 |
206 | 215,258 | ||||||||||
7.75%, 02/15/29 |
78 | 74,085 | ||||||||||
NCL Finance Ltd., 6.13%, 03/15/28(d) |
530 | 477,010 | ||||||||||
Neptune Bidco U.S., Inc., 9.29%, 04/15/29 |
128 | 117,506 | ||||||||||
Royal Caribbean Cruises Ltd. |
||||||||||||
4.25%, 07/01/26 |
200 | 183,590 | ||||||||||
5.50%, 08/31/26 |
313 | 296,759 | ||||||||||
5.38%, 07/15/27 |
378 | 353,450 | ||||||||||
11.63%, 08/15/27 |
284 | 308,833 | ||||||||||
5.50%, 04/01/28 |
162 | 151,071 | ||||||||||
8.25%, 01/15/29 |
302 | 317,100 | ||||||||||
9.25%, 01/15/29 |
566 | 603,023 | ||||||||||
7.25%, 01/15/30 |
415 | 420,330 | ||||||||||
Viking Cruises Ltd. |
||||||||||||
5.88%, 09/15/27 |
350 | 321,692 | ||||||||||
9.13%, 07/15/31 |
896 | 904,960 | ||||||||||
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29 |
283 | 258,945 | ||||||||||
|
|
|||||||||||
15,171,203 | ||||||||||||
Consumer Finance — 2.4% |
||||||||||||
Block, Inc.(d) |
||||||||||||
2.75%, 06/01/26 |
1,181 | 1,075,292 | ||||||||||
3.50%, 06/01/31 |
2,228 | 1,845,278 | ||||||||||
Capital One Financial Corp., (1-day SOFR + 2.64%), 6.31%, 06/08/29(a)(d) |
6,980 | 6,932,979 | ||||||||||
Ford Motor Credit Co. LLC, 7.20%, 06/10/30 |
1,209 | 1,220,135 | ||||||||||
Global Payments, Inc., 5.95%, 08/15/52(d) |
4,850 | 4,640,717 | ||||||||||
KB Kookmin Card Co. Ltd., 4.00%, 06/09/25(e) |
200 | 192,548 | ||||||||||
Navient Corp. |
||||||||||||
7.25%, 09/25/23 |
299 | 299,000 | ||||||||||
5.50%, 03/15/29 |
480 | 409,233 |
Security | Par (000) |
Value | ||||||||||
Consumer Finance (continued) |
|
|||||||||||
Navient Corp. (continued) |
||||||||||||
9.38%, 07/25/30 |
USD | 228 | $ | 226,780 | ||||||||
OneMain Finance Corp. |
||||||||||||
6.88%, 03/15/25 |
112 | 110,895 | ||||||||||
7.13%, 03/15/26(d) |
781 | 767,326 | ||||||||||
6.63%, 01/15/28 |
295 | 278,265 | ||||||||||
5.38%, 11/15/29(d) |
1,233 | 1,048,232 | ||||||||||
Sabre Global, Inc., 7.38%, 09/01/25(b)(d) |
483 | 428,716 | ||||||||||
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26(b)(d) |
788 | 738,963 | ||||||||||
Shinhan Card Co. Ltd., 1.38%, 10/19/25(e) |
200 | 180,026 | ||||||||||
Shriram Finance Ltd., 4.40%, 03/13/24 |
500 | 489,360 | ||||||||||
SLM Corp., 3.13%, 11/02/26 |
347 | 300,155 | ||||||||||
Verscend Escrow Corp., 9.75%, 08/15/26(b) |
3,791 | 3,802,722 | ||||||||||
|
|
|||||||||||
24,986,622 | ||||||||||||
Consumer Staples Distribution & Retail — 2.3% |
| |||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(b) |
||||||||||||
3.25%, 03/15/26 |
1,389 | 1,282,838 | ||||||||||
4.63%, 01/15/27 |
1,961 | 1,858,056 | ||||||||||
5.88%, 02/15/28 |
928 | 901,775 | ||||||||||
6.50%, 02/15/28 |
237 | 237,393 | ||||||||||
4.88%, 02/15/30(d) |
387 | 357,286 | ||||||||||
CK Hutchison International 21 Ltd., 2.50%, 04/15/31(d)(e) |
200 | 169,314 | ||||||||||
CK Hutchison International 23 Ltd.(e) |
||||||||||||
4.75%, 04/21/28(d) |
400 | 395,576 | ||||||||||
4.88%, 04/21/33 |
400 | 396,096 | ||||||||||
Darling Ingredients, Inc., 6.00%, 06/15/30(b) |
714 | 697,331 | ||||||||||
General Mills, Inc.(d) |
||||||||||||
5.24%, 11/18/25 |
935 | 935,112 | ||||||||||
4.20%, 04/17/28 |
620 | 601,730 | ||||||||||
Kraft Heinz Foods Co. |
||||||||||||
4.25%, 03/01/31 |
68 | 64,686 | ||||||||||
5.00%, 07/15/35 |
214 | 210,794 | ||||||||||
7.13%, 08/01/39(b)(d) |
4,415 | 4,916,226 | ||||||||||
4.63%, 10/01/39 |
100 | 90,358 | ||||||||||
5.00%, 06/04/42 |
12 | 11,230 | ||||||||||
4.38%, 06/01/46 |
158 | 134,277 | ||||||||||
5.50%, 06/01/50(d) |
2,825 | 2,801,757 | ||||||||||
Lamb Weston Holdings, Inc.(b) |
||||||||||||
4.88%, 05/15/28 |
460 | 440,558 | ||||||||||
4.13%, 01/31/30(d) |
515 | 460,263 | ||||||||||
4.38%, 01/31/32(d) |
266 | 237,611 | ||||||||||
Performance Food Group, Inc., 4.25%, 08/01/29(b) |
700 | 623,217 | ||||||||||
Post Holdings, Inc.(b) |
||||||||||||
4.63%, 04/15/30(d) |
434 | 380,340 | ||||||||||
4.50%, 09/15/31 |
19 | 16,227 | ||||||||||
U.S. Foods, Inc.(b) |
||||||||||||
4.75%, 02/15/29 |
595 | 544,752 | ||||||||||
4.63%, 06/01/30 |
67 | 60,048 | ||||||||||
United Natural Foods, Inc., 6.75%, 10/15/28(b) |
53 | 43,931 | ||||||||||
Walmart, Inc., 5.25%, 09/01/35(d) |
5,150 | 5,491,075 | ||||||||||
|
|
|||||||||||
24,359,857 | ||||||||||||
Containers & Packaging — 1.9% |
||||||||||||
Clydesdale Acquisition Holdings, Inc.(b) |
||||||||||||
6.63%, 04/15/29 |
988 | 942,254 | ||||||||||
8.75%, 04/15/30 |
633 | 558,764 | ||||||||||
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 |
224 | 212,126 |
82 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Containers & Packaging (continued) |
|
|||||||||||
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 |
USD | 355 | $ | 344,054 | ||||||||
International Paper Co.(d) |
||||||||||||
8.70%, 06/15/38 |
4,000 | 5,084,000 | ||||||||||
7.30%, 11/15/39 |
10,000 | 11,328,677 | ||||||||||
LABL, Inc., 5.88%, 11/01/28(b) |
418 | 380,163 | ||||||||||
OI European Group BV, 6.25%, 05/15/28 |
EUR | 175 | 194,977 | |||||||||
Owens-Brockway Glass Container, Inc., 7.25%, 05/15/31 |
USD | 353 | 357,413 | |||||||||
Sealed Air Corp., 4.00%, 12/01/27(b) |
109 | 99,489 | ||||||||||
Sealed Air Corp./Sealed Air Corp. U.S., 6.13%, 02/01/28(b) |
229 | 227,312 | ||||||||||
|
|
|||||||||||
19,729,229 | ||||||||||||
Diversified Consumer Services — 1.5% |
||||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp.(b) |
||||||||||||
6.63%, 07/15/26(d) |
5,356 | 5,082,541 | ||||||||||
9.75%, 07/15/27(d) |
3,786 | 3,346,647 | ||||||||||
6.00%, 06/01/29 |
200 | 147,581 | ||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL(b) |
||||||||||||
4.63%, 06/01/28(d) |
1,226 | 1,031,373 | ||||||||||
4.63%, 06/01/28 |
1,128 | 954,818 | ||||||||||
Clarivate Science Holdings Corp.(b) |
||||||||||||
3.88%, 07/01/28 |
1,602 | 1,420,086 | ||||||||||
4.88%, 07/01/29(d) |
771 | 683,959 | ||||||||||
Garda World Security Corp.(b) |
||||||||||||
4.63%, 02/15/27 |
194 | 177,510 | ||||||||||
7.75%, 02/15/28 |
804 | 798,067 | ||||||||||
Kodit Global Co. Ltd., 4.95%, 05/25/26 |
200 | 196,802 | ||||||||||
Service Corp. International |
||||||||||||
5.13%, 06/01/29 |
468 | 440,959 | ||||||||||
3.38%, 08/15/30(d) |
1,318 | 1,102,243 | ||||||||||
|
|
|||||||||||
15,382,586 | ||||||||||||
Diversified REITs — 1.3% |
||||||||||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(b) |
328 | 276,224 | ||||||||||
Crown Castle, Inc.(d) |
||||||||||||
1.05%, 07/15/26 |
925 | 809,794 | ||||||||||
3.65%, 09/01/27 |
8,000 | 7,477,308 | ||||||||||
Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27(b) |
197 | 144,519 | ||||||||||
Iron Mountain, Inc.(b) |
||||||||||||
4.88%, 09/15/27 |
606 | 572,431 | ||||||||||
5.63%, 07/15/32 |
493 | 441,028 | ||||||||||
MPT Operating Partnership LP/MPT Finance Corp. |
||||||||||||
2.55%, 12/05/23 |
GBP | 158 | 192,859 | |||||||||
4.63%, 08/01/29(d) |
USD | 449 | 339,426 | |||||||||
3.50%, 03/15/31 |
2,043 | 1,407,663 | ||||||||||
RHP Hotel Properties LP/RHP Finance Corp. |
||||||||||||
4.75%, 10/15/27 |
146 | 135,926 | ||||||||||
7.25%, 07/15/28 |
485 | 489,962 | ||||||||||
4.50%, 02/15/29(b) |
1,704 | 1,508,040 | ||||||||||
RLJ Lodging Trust LP, 4.00%, 09/15/29(b) |
199 | 166,660 | ||||||||||
Service Properties Trust, 7.50%, 09/15/25 |
142 | 139,444 | ||||||||||
|
|
|||||||||||
14,101,284 |
Security | Par (000) |
Value | ||||||||||
Diversified Telecommunication Services — 6.3% |
|
|||||||||||
AT&T, Inc. |
||||||||||||
4.65%, 06/01/44 |
USD | 28 | $ | 24,393 | ||||||||
4.35%, 06/15/45 |
95 | 79,612 | ||||||||||
3.50%, 09/15/53(d) |
15,960 | 11,298,334 | ||||||||||
Level 3 Financing, Inc.(b) |
||||||||||||
3.40%, 03/01/27 |
1,197 | 1,015,654 | ||||||||||
10.50%, 05/15/30(d) |
2,436 | 2,471,646 | ||||||||||
Lumen Technologies, Inc., 4.00%, 02/15/27(b) |
2,133 | 1,589,533 | ||||||||||
Sprint Capital Corp. |
||||||||||||
6.88%, 11/15/28(d) |
3,063 | 3,246,760 | ||||||||||
8.75%, 03/15/32 |
2,041 | 2,466,767 | ||||||||||
Telecom Italia Capital SA |
||||||||||||
6.38%, 11/15/33 |
393 | 333,386 | ||||||||||
6.00%, 09/30/34 |
763 | 615,324 | ||||||||||
7.20%, 07/18/36 |
115 | 98,847 | ||||||||||
7.72%, 06/04/38 |
195 | 172,421 | ||||||||||
Telecom Italia SpA, 5.30%, 05/30/24(b) |
1,062 | 1,032,219 | ||||||||||
Telefonica Emisiones SA, 5.21%, 03/08/47(d) |
5,000 | 4,348,694 | ||||||||||
Verizon Communications, Inc.(d) |
||||||||||||
6.40%, 09/15/33 |
9,475 | 10,149,903 | ||||||||||
6.55%, 09/15/43 |
13,225 | 14,604,080 | ||||||||||
5.01%, 04/15/49 |
6,998 | 6,570,989 | ||||||||||
Zayo Group Holdings, Inc.(b)(d) |
||||||||||||
4.00%, 03/01/27 |
7,103 | 5,016,523 | ||||||||||
6.13%, 03/01/28 |
1,734 | 1,083,522 | ||||||||||
|
|
|||||||||||
66,218,607 | ||||||||||||
Electric Utilities — 4.8% |
||||||||||||
China Huaneng Group Hong Kong Treasury Management Holding Ltd., 1.60%, 01/20/26(e) |
200 | 181,882 | ||||||||||
Dominion Energy, Inc., Series C, (5-year CMT + 3.20%), 4.35%(a)(f) |
2,020 | 1,697,046 | ||||||||||
Edison International, Series A, (5-year CMT + 4.70%), 5.38%(a)(f) |
6,851 | 5,987,089 | ||||||||||
Emera, Inc., Series 16-A, (3-mo. LIBOR US + 5.44%), 6.75%, 06/15/76(a) |
7,500 | 7,252,350 | ||||||||||
FirstEnergy Transmission LLC, 5.45%, 07/15/44(b) |
699 | 646,367 | ||||||||||
Korea Western Power Co. Ltd., 4.13%, 06/28/25(e) |
200 | 193,674 | ||||||||||
Minejesa Capital BV, 4.63%, 08/10/30(e) |
200 | 178,848 | ||||||||||
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(e) |
605 | 529,895 | ||||||||||
NextEra Energy Capital Holdings, Inc., (3-mo. LIBOR US + 2.41%), 4.80%, 12/01/77(a)(d) |
5,000 | 4,375,228 | ||||||||||
NextEra Energy Operating Partners LP(b) |
||||||||||||
4.25%, 07/15/24 |
712 | 696,360 | ||||||||||
4.25%, 09/15/24 |
26 | 24,830 | ||||||||||
Oncor Electric Delivery Co. LLC, 5.30%, 06/01/42(d) |
2,750 | 2,816,188 | ||||||||||
Pacific Gas and Electric Co., 4.20%, 06/01/41(d) |
2,310 | 1,720,268 | ||||||||||
Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28(b) |
566 | 516,946 | ||||||||||
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 3.00%, 06/30/30(e) |
350 | 299,212 | ||||||||||
PG&E Corp., 5.25%, 07/01/30 |
226 | 202,562 | ||||||||||
Progress Energy, Inc., 7.00%, 10/30/31(d) |
12,000 | 13,151,619 | ||||||||||
Sempra Energy, (5-year CMT + 4.55%), 4.88%(a)(f) |
4,375 | 4,069,049 | ||||||||||
Southern California Edison Co., 5.88%, 12/01/53(d) |
4,000 | 4,079,459 | ||||||||||
Star Energy Geothermal Darajat II/Star Energy Geothermal Salak, 4.85%, 10/14/38(e) |
200 | 180,400 | ||||||||||
State Grid Overseas Investment BVI Ltd.(e) 1.00%, 08/05/25 |
200 | 182,550 |
S C H E D U L E O F I N V E S T M E N T S |
83 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Electric Utilities (continued) | ||||||||
State Grid Overseas Investment BVI Ltd.(e) (continued) |
||||||||
3.50%, 05/04/27 |
USD | 200 | $ | 190,912 | ||||
Three Gorges Finance I Cayman Islands Ltd., 3.15%, 06/02/26(e) |
200 | 188,410 | ||||||
Vistra Operations Co. LLC(b) |
||||||||
5.50%, 09/01/26 |
23 | 22,132 | ||||||
5.63%, 02/15/27(d) |
812 | 778,283 | ||||||
5.00%, 07/31/27 |
23 | 21,528 | ||||||
|
|
|||||||
50,183,087 | ||||||||
Electrical Equipment(b) — 0.3% | ||||||||
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 |
714 | 702,579 | ||||||
GrafTech Finance, Inc., 4.63%, 12/15/28 |
99 | 80,440 | ||||||
Regal Rexnord Corp. |
||||||||
6.05%, 02/15/26 |
155 | 155,197 | ||||||
6.05%, 04/15/28 |
940 | 933,145 | ||||||
6.30%, 02/15/30 |
350 | 348,964 | ||||||
6.40%, 04/15/33 |
510 | 509,570 | ||||||
|
|
|||||||
2,729,895 | ||||||||
Electronic Equipment, Instruments & Components(b) — 0.2% | ||||||||
BWX Technologies, Inc. |
||||||||
4.13%, 06/30/28 |
70 | 63,864 | ||||||
4.13%, 04/15/29 |
248 | 223,820 | ||||||
Imola Merger Corp., 4.75%, 05/15/29 |
784 | 681,849 | ||||||
Vertiv Group Corp., 4.13%, 11/15/28 |
1,191 | 1,073,060 | ||||||
|
|
|||||||
2,042,593 | ||||||||
Energy Equipment & Services — 0.5% | ||||||||
Archrock Partners LP/Archrock Partners Finance Corp.(b) |
||||||||
6.88%, 04/01/27 |
1,295 | 1,243,200 | ||||||
6.25%, 04/01/28 |
98 | 92,008 | ||||||
Noble Finance II LLC, 8.00%, 04/15/30 |
525 | 533,757 | ||||||
USA Compression Partners LP/USA Compression Finance Corp. |
||||||||
6.88%, 04/01/26 |
927 | 908,084 | ||||||
6.88%, 09/01/27 |
621 | 592,990 | ||||||
Valaris Ltd., 8.38%, 04/30/30 |
820 | 822,755 | ||||||
Weatherford International Ltd.(b) |
||||||||
6.50%, 09/15/28 |
111 | 111,477 | ||||||
8.63%, 04/30/30(d) |
505 | 512,697 | ||||||
|
|
|||||||
4,816,968 | ||||||||
Environmental, Maintenance & Security Service — 0.7% | ||||||||
Clean Harbors, Inc.(b) |
||||||||
5.13%, 07/15/29 |
1,142 | 1,080,450 | ||||||
6.38%, 02/01/31 |
168 | 169,052 | ||||||
Covanta Holding Corp. |
||||||||
4.88%, 12/01/29(b) |
142 | 122,830 | ||||||
5.00%, 09/01/30 |
282 | 239,171 | ||||||
GFL Environmental, Inc.(b) |
||||||||
4.25%, 06/01/25 |
26 | 25,090 | ||||||
3.75%, 08/01/25 |
443 | 421,456 | ||||||
5.13%, 12/15/26(d) |
2,367 | 2,283,653 | ||||||
4.00%, 08/01/28 |
36 | 32,186 | ||||||
3.50%, 09/01/28 |
376 | 334,634 | ||||||
4.75%, 06/15/29 |
558 | 509,795 | ||||||
4.38%, 08/15/29 |
508 | 452,297 |
Security | Par (000) |
Value | ||||||
Environmental, Maintenance & Security Service (continued) | ||||||||
Tervita Corp., 11.00%, 12/01/25(b) |
USD | 182 | $ | 193,076 | ||||
Waste Pro USA, Inc., 5.50%, 02/15/26(b) |
1,749 | 1,621,319 | ||||||
|
|
|||||||
7,485,009 | ||||||||
Financial Services — 6.0% | ||||||||
Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28(b) |
724 | 560,366 | ||||||
Ally Financial, Inc., Series B, (5-year CMT + 3.87%), 4.70%(a)(d)(f) |
3,375 | 2,379,375 | ||||||
Bank of America Corp.(a)(d) |
||||||||
(1-day SOFR + 1.83%), 4.57%, 04/27/33 |
9,380 | 8,819,486 | ||||||
(1-day SOFR + 1.99%), 6.20%, 11/10/28 |
3,090 | 3,176,053 | ||||||
Barclays PLC, (3-mo. LIBOR US + 1.90%), 4.97%, 05/16/29(a)(d) |
3,220 | 3,042,981 | ||||||
BNP Paribas SA, (5-year CMT + 3.34%), 4.63%(a)(b)(f) |
13,999 | 9,991,786 | ||||||
BOC Aviation Ltd., 1.75%, 01/21/26(d)(e) |
200 | 181,008 | ||||||
China Cinda 2020 I Management Ltd.(e) |
||||||||
3.25%, 01/28/27 |
200 | 183,590 | ||||||
3.00%, 03/18/27 |
200 | 181,938 | ||||||
CITIC Ltd., 3.70%, 06/14/26(e) |
200 | 189,516 | ||||||
Citigroup, Inc., 6.68%, 09/13/43(d) |
4,125 | 4,443,090 | ||||||
CMB International Leasing Management Ltd., 1.88%, 08/12/25(e) |
200 | 184,180 | ||||||
Deutsche Bank AG, (1-day SOFR + 1.87%), 2.13%, 11/24/26(a)(d) |
3,260 | 2,900,491 | ||||||
GGAM Finance Ltd.(b) |
||||||||
7.75%, 05/15/26 |
66 | 66,247 | ||||||
8.00%, 06/15/28 |
66 | 66,034 | ||||||
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24(b)(g) |
338 | 308,250 | ||||||
Goldman Sachs Group, Inc., (1-day SOFR + 1.85%), 3.62%, 03/15/28(a)(d) |
1,830 | 1,717,038 | ||||||
Home Point Capital, Inc., 5.00%, 02/01/26(b) |
1,511 | 1,354,739 | ||||||
ICBCIL Finance Co. Ltd., 1.75%, 08/25/25(e) |
200 | 183,548 | ||||||
ION Trading Technologies SARL, 5.75%, 05/15/28(b) |
200 | 172,642 | ||||||
Jefferies Finance LLC/JFIN Co.-Issuer Corp., 5.00%, 08/15/28(b) |
475 | 389,412 | ||||||
JIC Zhixin Ltd., 3.50%, 11/24/27(e) |
200 | 187,776 | ||||||
JPMorgan Chase & Co., (1-day SOFR + 2.58%), 5.72%, 09/14/33(a)(d) |
11,000 | 11,159,425 | ||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.(b) |
||||||||
5.25%, 10/01/25 |
67 | 63,267 | ||||||
4.75%, 06/15/29 |
398 | 323,907 | ||||||
MGIC Investment Corp., 5.25%, 08/15/28 |
337 | 317,879 | ||||||
Nationstar Mortgage Holdings, Inc.(b) |
||||||||
6.00%, 01/15/27(d) |
524 | 487,469 | ||||||
5.75%, 11/15/31 |
380 | 312,149 | ||||||
Power Finance Corp. Ltd., 3.75%, 12/06/27(e) |
200 | 184,058 | ||||||
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.88%, 10/15/26(b) |
1,056 | 934,560 | ||||||
Spectrum Brands, Inc. |
||||||||
5.75%, 07/15/25 |
1,002 | 1,001,379 | ||||||
5.00%, 10/01/29(b) |
34 | 30,348 | ||||||
Sumitomo Mitsui Finance & Leasing Co. Ltd., 5.35%, 04/25/28 |
200 | 198,486 |
84 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Financial Services (continued) | ||||||||
UBS Group AG, (1-year CMT + 1.55%), 4.49%, 05/12/26(a)(b) |
USD | 2,585 | $ | 2,499,096 | ||||
UniCredit SpA, (5-year CMT + 4.75%), 5.46%, 06/30/35(a)(b) |
6,135 | 5,206,465 | ||||||
|
|
|||||||
63,398,034 | ||||||||
Food Products — 0.6% | ||||||||
Aramark International Finance SARL, 3.13%, 04/01/25(e) |
EUR | 200 | 209,260 | |||||
Aramark Services, Inc.(b) |
||||||||
5.00%, 04/01/25 |
USD | 1,049 | 1,033,632 | |||||
6.38%, 05/01/25 |
1,567 | 1,565,555 | ||||||
5.00%, 02/01/28(d) |
686 | 646,582 | ||||||
China Modern Dairy Holdings Ltd., 2.13%, 07/14/26(e) |
200 | 170,754 | ||||||
Chobani LLC/Chobani Finance Corp., Inc.(b) |
||||||||
7.50%, 04/15/25 |
1,562 | 1,554,208 | ||||||
4.63%, 11/15/28 |
675 | 614,250 | ||||||
Darling Global Finance BV, 3.63%, 05/15/26(e) |
EUR | 100 | 106,392 | |||||
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/29(b) |
USD | 275 | 220,334 | |||||
Tingyi Cayman Islands Holding Corp., 1.63%, 09/24/25(e) |
200 | 181,624 | ||||||
|
|
|||||||
6,302,591 | ||||||||
Gas Utilities — 0.1% | ||||||||
Howard Midstream Energy Partners LLC, 8.88%, 07/15/28 |
390 | 391,950 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31(b) |
237 | 198,404 | ||||||
|
|
|||||||
590,354 | ||||||||
Ground Transportation — 1.8% | ||||||||
BNSF Funding Trust I, (3-mo. LIBOR US + 2.35%), 6.61%, 12/15/55(a)(d) |
6,125 | 5,909,948 | ||||||
CMHI Finance BVI Co. Ltd., (5-year CMT + 6.62%), 3.88%(a)(e)(f) |
200 | 190,750 | ||||||
CSX Corp., 3.80%, 04/15/50(d) |
770 | 614,081 | ||||||
Norfolk Southern Corp., 6.00%, 03/15/2105 |
12,700 | 12,198,342 | ||||||
|
|
|||||||
18,913,121 | ||||||||
Health Care Equipment & Supplies — 0.4% | ||||||||
Avantor Funding, Inc. |
||||||||
2.63%, 11/01/25(e) |
EUR | 300 | 313,631 | |||||
4.63%, 07/15/28(b)(d) |
USD | 2,191 | 2,030,888 | |||||
3.88%, 11/01/29(b) |
395 | 345,834 | ||||||
Embecta Corp., 6.75%, 02/15/30(b) |
129 | 115,605 | ||||||
Garden Spinco Corp., 8.63%, 07/20/30(b) |
328 | 352,518 | ||||||
Medtronic, Inc., 4.63%, 03/15/45(d) |
647 | 629,504 | ||||||
|
|
|||||||
3,787,980 | ||||||||
Health Care Providers & Services — 4.4% | ||||||||
Acadia Healthcare Co., Inc., 5.00%, 04/15/29(b) |
52 | 47,949 | ||||||
AdaptHealth LLC, 5.13%, 03/01/30(b) |
55 | 44,550 | ||||||
Aetna, Inc., 3.88%, 08/15/47(d) |
3,500 | 2,727,926 | ||||||
AHP Health Partners, Inc., 5.75%, 07/15/29(b) |
580 | 500,093 | ||||||
Centene Corp. |
||||||||
2.45%, 07/15/28(d) |
640 | 547,044 | ||||||
3.00%, 10/15/30(d) |
1,673 | 1,394,106 | ||||||
2.50%, 03/01/31(d) |
1,345 | 1,072,597 | ||||||
2.63%, 08/01/31 |
363 | 289,268 |
Security | Par (000) |
Value | ||||||
Health Care Providers & Services (continued) | ||||||||
CHS/Community Health Systems, Inc.(b) |
||||||||
6.00%, 01/15/29(d) |
USD | 1,376 | $ | 1,157,560 | ||||
5.25%, 05/15/30(d) |
588 | 463,184 | ||||||
4.75%, 02/15/31 |
174 | 131,506 | ||||||
Elevance Health, Inc., 4.55%, 03/01/48(d) |
5,000 | 4,388,307 | ||||||
Encompass Health Corp. |
||||||||
4.50%, 02/01/28 |
35 | 32,562 | ||||||
4.75%, 02/01/30(d) |
928 | 844,945 | ||||||
4.63%, 04/01/31 |
354 | 313,807 | ||||||
HCA, Inc. |
||||||||
5.38%, 09/01/26 |
359 | 356,179 | ||||||
5.63%, 09/01/28(d) |
833 | 833,637 | ||||||
5.25%, 06/15/49(d) |
3,500 | 3,158,157 | ||||||
HealthEquity, Inc., 4.50%, 10/01/29(b) |
1,134 | 999,430 | ||||||
IQVIA, Inc., 6.50%, 05/15/30(b) |
314 | 317,100 | ||||||
Legacy LifePoint Health LLC(b) |
||||||||
6.75%, 04/15/25(d) |
622 | 577,726 | ||||||
4.38%, 02/15/27 |
509 | 393,846 | ||||||
Medline Borrower LP(b) |
||||||||
3.88%, 04/01/29 |
362 | 314,601 | ||||||
5.25%, 10/01/29(d) |
2,815 | 2,442,573 | ||||||
ModivCare, Inc., 5.88%, 11/15/25(b) |
266 | 246,354 | ||||||
Molina Healthcare, Inc.(b) |
||||||||
4.38%, 06/15/28(d) |
659 | 607,500 | ||||||
3.88%, 11/15/30 |
491 | 421,847 | ||||||
3.88%, 05/15/32(d) |
198 | 165,993 | ||||||
Surgery Center Holdings, Inc.(b)(d) |
||||||||
6.75%, 07/01/25 |
188 | 187,330 | ||||||
10.00%, 04/15/27 |
524 | 535,790 | ||||||
Teleflex, Inc. |
||||||||
4.63%, 11/15/27 |
70 | 65,975 | ||||||
4.25%, 06/01/28(b)(d) |
637 | 582,055 | ||||||
Tenet Healthcare Corp. |
||||||||
4.88%, 01/01/26 |
4,122 | 4,014,784 | ||||||
6.25%, 02/01/27 |
171 | 169,250 | ||||||
5.13%, 11/01/27(d) |
427 | 407,647 | ||||||
6.13%, 06/15/30 |
243 | 239,525 | ||||||
6.75%, 05/15/31(d) |
3,342 | 3,350,141 | ||||||
UnitedHealth Group, Inc., 6.88%, 02/15/38(d) |
10,000 | 11,902,295 | ||||||
|
|
|||||||
46,245,139 | ||||||||
Health Care Technology(b) — 0.4% | ||||||||
AthenaHealth Group, Inc., 6.50%, 02/15/30(d) |
2,565 | 2,158,807 | ||||||
Catalent Pharma Solutions, Inc., 5.00%, 07/15/27(d) |
733 | 672,445 | ||||||
Charles River Laboratories International, Inc. |
||||||||
4.25%, 05/01/28 |
324 | 296,646 | ||||||
4.00%, 03/15/31 |
68 | 59,062 | ||||||
Fortrea Holdings, Inc., 7.50%, 07/01/30 |
289 | 295,927 | ||||||
IQVIA, Inc. |
||||||||
5.00%, 10/15/26 |
554 | 534,927 | ||||||
5.00%, 05/15/27(d) |
592 | 569,424 | ||||||
|
|
|||||||
4,587,238 | ||||||||
Hotels, Restaurants & Leisure — 3.7% | ||||||||
Boyd Gaming Corp. |
||||||||
4.75%, 12/01/27 |
254 | 240,659 | ||||||
4.75%, 06/15/31(b)(d) |
643 | 574,427 | ||||||
Boyne USA, Inc., 4.75%, 05/15/29(b) |
584 | 526,277 | ||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc.(b) |
||||||||
5.75%, 04/15/25 |
552 | 551,167 | ||||||
3.88%, 01/15/28 |
1,128 | 1,031,188 |
S C H E D U L E O F I N V E S T M E N T S |
85 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc.(b) (continued) |
||||||||
4.38%, 01/15/28(d) |
USD | 2,509 | $ | 2,316,243 | ||||
4.00%, 10/15/30 |
110 | 94,142 | ||||||
Caesars Entertainment, Inc.(b) |
||||||||
6.25%, 07/01/25 |
3,282 | 3,266,802 | ||||||
8.13%, 07/01/27(d) |
2,244 | 2,296,664 | ||||||
4.63%, 10/15/29(d) |
1,619 | 1,413,728 | ||||||
7.00%, 02/15/30 |
2,151 | 2,160,120 | ||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25(b) |
1,048 | 1,060,392 | ||||||
CDI Escrow Issuer, Inc., 5.75%, 04/01/30(b) |
1,346 | 1,252,881 | ||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25(b) |
408 | 404,923 | ||||||
Champion Path Holdings Ltd.(e) |
||||||||
4.50%, 01/27/26 |
500 | 438,165 | ||||||
4.85%, 01/27/28 |
500 | 405,100 | ||||||
Churchill Downs, Inc. |
||||||||
5.50%, 04/01/27(b) |
1,730 | 1,663,276 | ||||||
4.75%, 01/15/28(b) |
730 | 677,003 | ||||||
6.75%, 05/01/31 |
634 | 626,867 | ||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.(b) |
||||||||
4.63%, 01/15/29 |
807 | 708,142 | ||||||
6.75%, 01/15/30 |
133 | 113,188 | ||||||
Fortune Star BVI Ltd.(e) |
||||||||
6.75%, 07/02/23 |
200 | 199,880 | ||||||
5.95%, 10/19/25(d) |
269 | 213,825 | ||||||
5.00%, 05/18/26(d) |
344 | 251,364 | ||||||
Hilton Domestic Operating Co., Inc. |
||||||||
5.38%, 05/01/25(b) |
319 | 314,926 | ||||||
5.75%, 05/01/28(b) |
638 | 628,247 | ||||||
3.75%, 05/01/29(b) |
356 | 315,990 | ||||||
4.88%, 01/15/30(d) |
833 | 776,706 | ||||||
4.00%, 05/01/31(b) |
248 | 215,383 | ||||||
3.63%, 02/15/32(b) |
51 | 42,521 | ||||||
Las Vegas Sands Corp. |
||||||||
3.50%, 08/18/26 |
96 | 89,417 | ||||||
3.90%, 08/08/29 |
88 | 78,519 | ||||||
Lindblad Expeditions Holdings, Inc., 9.00%, 05/15/28 |
371 | 376,427 | ||||||
Marriott International, Inc., Series EE, 5.75%, 05/01/25(d) |
1,295 | 1,297,439 | ||||||
McDonald’s Corp., 4.20%, 04/01/50 |
480 | 415,179 | ||||||
Melco Resorts Finance Ltd. |
||||||||
4.88%, 06/06/25(b) |
200 | 188,790 | ||||||
5.25%, 04/26/26(e) |
300 | 278,412 | ||||||
5.75%, 07/21/28(e) |
300 | 262,313 | ||||||
5.38%, 12/04/29(b) |
1,000 | 823,750 | ||||||
5.38%, 12/04/29(d)(e) |
383 | 315,496 | ||||||
Merlin Entertainments Ltd., 5.75%, 06/15/26(b) |
440 | 424,047 | ||||||
MGM China Holdings Ltd. |
||||||||
5.88%, 05/15/26(b) |
200 | 190,432 | ||||||
5.88%, 05/15/26(d)(e) |
200 | 190,432 | ||||||
4.75%, 02/01/27(b) |
200 | 180,250 | ||||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29(b) |
487 | 430,044 | ||||||
Motion Bondco DAC, 6.63%, 11/15/27(b) |
200 | 183,083 |
Security | Par (000) |
Value | ||||||
Hotels, Restaurants & Leisure (continued) | ||||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.(b) |
||||||||
5.63%, 09/01/29 |
USD | 242 | $ | 183,303 | ||||
5.88%, 09/01/31 |
242 | 178,536 | ||||||
Scientific Games Holdings LP/Scientific Games US FinCo, Inc., 6.63%, 03/01/30(b) |
109 | 95,920 | ||||||
Scientific Games International, Inc.(b) |
||||||||
8.63%, 07/01/25 |
442 | 451,392 | ||||||
7.00%, 05/15/28(d) |
451 | 448,592 | ||||||
7.25%, 11/15/29(d) |
218 | 218,273 | ||||||
Six Flags Entertainment Corp., 7.25%, 05/15/31(b) |
609 | 593,136 | ||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25(b) |
591 | 593,953 | ||||||
Station Casinos LLC, 4.63%, 12/01/31(b) |
611 | 514,768 | ||||||
Studio City Finance Ltd.(e) |
||||||||
6.50%, 01/15/28 |
300 | 250,338 | ||||||
5.00%, 01/15/29 |
530 | 393,361 | ||||||
Sunny Express Enterprises Corp., 2.95%, 03/01/27(e) |
200 | 186,542 | ||||||
Vail Resorts, Inc., 6.25%, 05/15/25(b) |
341 | 341,408 | ||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27(b)(d) |
602 | 570,246 | ||||||
Wynn Macau Ltd. |
||||||||
4.88%, 10/01/24(e) |
200 | 194,208 | ||||||
5.50%, 01/15/26(e) |
230 | 213,181 | ||||||
5.63%, 08/26/28(b)(d) |
1,267 | 1,092,787 | ||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.(b)(d) |
||||||||
5.13%, 10/01/29 |
1,337 | 1,198,210 | ||||||
7.13%, 02/15/31 |
559 | 555,613 | ||||||
Yum! Brands, Inc., 3.63%, 03/15/31 |
134 | 115,766 | ||||||
|
|
|||||||
38,893,759 | ||||||||
Household Durables — 0.4% | ||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 4.88%, 02/15/30(b) |
699 | 548,357 | ||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25(b) |
507 | 469,323 | ||||||
Lennar Corp., 5.25%, 06/01/26(d) |
890 | 881,279 | ||||||
Mattamy Group Corp., 4.63%, 03/01/30(b)(d) |
427 | 369,139 | ||||||
NCR Corp.(b) |
||||||||
5.00%, 10/01/28 |
241 | 215,076 | ||||||
5.13%, 04/15/29 |
913 | 808,243 | ||||||
PulteGroup, Inc. |
||||||||
5.00%, 01/15/27 |
55 | 54,186 | ||||||
7.88%, 06/15/32 |
56 | 63,456 | ||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29(b)(d) |
684 | 410,419 | ||||||
Taylor Morrison Communities, Inc., 5.88%, 06/15/27(b) |
15 | 14,733 | ||||||
Tempur Sealy International, Inc.(b) |
||||||||
4.00%, 04/15/29 |
429 | 371,384 | ||||||
3.88%, 10/15/31 |
70 | 57,026 | ||||||
Toll Brothers Finance Corp., 4.35%, 02/15/28 |
35 | 32,866 | ||||||
|
|
|||||||
4,295,487 | ||||||||
Household Products — 0.0% | ||||||||
Central Garden & Pet Co. |
||||||||
5.13%, 02/01/28 |
80 | 75,155 | ||||||
4.13%, 10/15/30(d) |
246 | 206,073 | ||||||
|
|
|||||||
281,228 | ||||||||
Independent Power and Renewable Electricity Producers — 0.7% | ||||||||
Calpine Corp.(b) |
||||||||
5.25%, 06/01/26 |
379 | 366,000 | ||||||
5.13%, 03/15/28(d) |
2,807 | 2,504,972 |
86 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Independent Power and Renewable Electricity Producers (continued) | ||||||||
Calpine Corp.(b) (continued) |
||||||||
5.00%, 02/01/31 |
USD | 3 | $ | 2,481 | ||||
Clearway Energy Operating LLC(b) |
||||||||
4.75%, 03/15/28 |
747 | 689,197 | ||||||
3.75%, 01/15/32 |
307 | 249,870 | ||||||
Greenko Dutch BV, 3.85%, 03/29/26(d)(e) |
758 | 679,065 | ||||||
India Green Energy Holdings, 5.38%, 04/29/24(e) |
250 | 244,375 | ||||||
India Green Power Holdings, 4.00%, 02/22/27(e) |
700 | 611,100 | ||||||
JERA Co., Inc., 3.67%, 04/14/27(e) |
200 | 185,555 | ||||||
NRG Energy, Inc. |
||||||||
6.63%, 01/15/27 |
618 | 613,476 | ||||||
5.75%, 01/15/28 |
52 | 49,278 | ||||||
3.88%, 02/15/32(b) |
317 | 244,244 | ||||||
ReNew Power Pvt Ltd., 5.88%, 03/05/27(e) |
200 | 186,602 | ||||||
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries, 4.50%, 07/14/28(d)(e) |
550 | 464,657 | ||||||
Talen Energy Supply LLC, 8.63%, 06/01/30 |
202 | 209,070 | ||||||
TerraForm Power Operating LLC(b) |
||||||||
5.00%, 01/31/28 |
231 | 212,672 | ||||||
4.75%, 01/15/30 |
127 | 112,078 | ||||||
TransAlta Corp., 7.75%, 11/15/29 |
165 | 169,868 | ||||||
|
|
|||||||
7,794,560 | ||||||||
Industrial Conglomerates — 0.0% | ||||||||
Emerald Debt Merger Sub LLC, 6.38%, 12/15/30 |
EUR | 240 | 260,906 | |||||
Shanghai Port Group BVI Development 2 Co. Ltd., 1.50%, 07/13/25(e) |
USD | 200 | 183,762 | |||||
|
|
|||||||
444,668 | ||||||||
Insurance — 4.1% | ||||||||
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29(b) |
280 | 242,429 | ||||||
AIA Group Ltd., (5-year CMT + 1.76%), 2.70%(a)(e)(f) |
200 | 177,044 | ||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer(b) |
||||||||
4.25%, 10/15/27 |
41 | 36,793 | ||||||
6.75%, 10/15/27(d) |
2,839 | 2,668,660 | ||||||
6.75%, 04/15/28 |
871 | 863,804 | ||||||
5.88%, 11/01/29 |
66 | 57,415 | ||||||
Allstate Corp., Series B, (3-mo. LIBOR US + 2.94%), 5.75%, 08/15/53(a) |
5,000 | 4,920,347 | ||||||
AmWINS Group, Inc., 4.88%, 06/30/29(b) |
551 | 497,544 | ||||||
Aon Global Ltd., 4.25%, 12/12/42(d) |
6,500 | 5,168,560 | ||||||
Farmers Exchange Capital II, (3-mo. LIBOR US + 3.74%), 6.15%, 11/01/53(a)(b)(d) |
4,890 | 4,749,608 | ||||||
GTCR AP Finance, Inc., 8.00%, 05/15/27(b) |
80 | 78,419 | ||||||
Guoren Property & Casualty Insurance Co. Ltd., 3.35%, 06/01/26(e) |
200 | 171,982 | ||||||
HUB International Ltd.(b) |
||||||||
7.00%, 05/01/26 |
1,900 | 1,894,974 | ||||||
7.25%, 06/15/30 |
2,246 | 2,319,220 | ||||||
Jones Deslauriers Insurance Management, Inc.(b) |
||||||||
8.50%, 03/15/30 |
764 | 779,440 | ||||||
10.50%, 12/15/30 |
400 | 401,231 | ||||||
Northwestern Mutual Life Insurance Co., 6.06%, 03/30/40(b)(d) |
12,000 | 12,432,246 | ||||||
Progressive Corp., Series B, (3-mo. LIBOR US + 2.54%), 8.09%(a)(f) |
5,000 | 4,922,100 | ||||||
Ryan Specialty Group LLC, 4.38%, 02/01/30(b) |
308 | 272,642 | ||||||
|
|
|||||||
42,654,458 |
Security | Par (000) |
Value | ||||||
Interactive Media & Services — 0.6% | ||||||||
Baidu, Inc., 1.63%, 02/23/27 |
USD | 200 | $ | 175,524 | ||||
Cablevision Lightpath LLC, 5.63%, 09/15/28(b) |
540 | 400,033 | ||||||
Netflix, Inc. |
||||||||
3.63%, 06/15/25(b) |
210 | 202,305 | ||||||
5.88%, 11/15/28(d) |
1,698 | 1,753,698 | ||||||
5.38%, 11/15/29(b) |
2,007 | 2,014,434 | ||||||
4.88%, 06/15/30(b) |
461 | 453,667 | ||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc., 4.75%, 04/30/27(b) |
552 | 487,527 | ||||||
Tencent Holdings Ltd.(e) |
||||||||
1.81%, 01/26/26 |
200 | 182,478 | ||||||
3.60%, 01/19/28 |
200 | 185,679 | ||||||
3.68%, 04/22/41 |
200 | 154,636 | ||||||
Weibo Corp., 3.50%, 07/05/24 |
200 | 194,228 | ||||||
|
|
|||||||
6,204,209 | ||||||||
Internet Software & Services — 1.1% | ||||||||
ANGI Group LLC, 3.88%, 08/15/28(b) |
432 | 352,731 | ||||||
Booking Holdings, Inc., 3.55%, 03/15/28(d) |
3,375 | 3,170,733 | ||||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc., 3.50%, 03/01/29(b) |
777 | 665,767 | ||||||
Match Group Holdings II LLC(b) |
||||||||
4.13%, 08/01/30 |
383 | 328,040 | ||||||
3.63%, 10/01/31(d) |
217 | 178,361 | ||||||
Uber Technologies, Inc.(b) |
||||||||
7.50%, 05/15/25 |
1,590 | 1,609,016 | ||||||
8.00%, 11/01/26 |
645 | 657,327 | ||||||
7.50%, 09/15/27(d) |
1,443 | 1,475,977 | ||||||
6.25%, 01/15/28 |
2,220 | 2,209,033 | ||||||
4.50%, 08/15/29(d) |
926 | 852,289 | ||||||
|
|
|||||||
11,499,274 | ||||||||
IT Services — 0.8% | ||||||||
Booz Allen Hamilton, Inc.(b) |
||||||||
3.88%, 09/01/28 |
561 | 507,402 | ||||||
4.00%, 07/01/29 |
945 | 846,481 | ||||||
CA Magnum Holdings |
||||||||
5.38%, 10/31/26(b) |
964 | 861,006 | ||||||
5.38%, 10/31/26(e) |
700 | 625,212 | ||||||
Camelot Finance SA, 4.50%, 11/01/26(b) |
1,348 | 1,269,870 | ||||||
Dun & Bradstreet Corp., 5.00%, 12/15/29(b) |
592 | 521,984 | ||||||
Fair Isaac Corp., 4.00%, 06/15/28(b) |
393 | 360,541 | ||||||
Gartner, Inc., 4.50%, 07/01/28(b) |
545 | 509,145 | ||||||
KBR, Inc., 4.75%, 09/30/28(b) |
15 | 13,613 | ||||||
McAfee Corp., 7.38%, 02/15/30(b)(d) |
1,273 | 1,106,902 | ||||||
Presidio Holdings, Inc., 4.88%, 02/01/27(b) |
73 | 68,482 | ||||||
Twilio, Inc. |
||||||||
3.63%, 03/15/29 |
259 | 220,344 | ||||||
3.88%, 03/15/31(d) |
558 | 464,599 | ||||||
Wipro IT Services LLC, 1.50%, 06/23/26(e) |
200 | 177,808 | ||||||
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29(b) |
989 | 850,630 | ||||||
|
|
|||||||
8,404,019 | ||||||||
Leisure Products — 0.1% | ||||||||
Mattel, Inc. |
||||||||
3.75%, 04/01/29(b) |
122 | 107,340 | ||||||
6.20%, 10/01/40 |
513 | 458,650 | ||||||
5.45%, 11/01/41 |
753 | 624,258 | ||||||
|
|
|||||||
1,190,248 |
S C H E D U L E O F I N V E S T M E N T S |
87 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
Machinery — 0.7% | ||||||||
Chart Industries, Inc.(b) |
||||||||
7.50%, 01/01/30 |
USD | 946 | $ | 965,161 | ||||
9.50%, 01/01/31 |
143 | 151,725 | ||||||
GrafTech Global Enterprises, Inc., 9.88%, 12/15/28 |
418 | 414,865 | ||||||
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25(b)(g) |
166 | 151,060 | ||||||
Madison IAQ LLC, 5.88%, 06/30/29(b)(d) |
658 | 532,920 | ||||||
Terex Corp., 5.00%, 05/15/29(b)(d) |
688 | 639,619 | ||||||
Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26(b) |
1,550 | 1,406,625 | ||||||
TK Elevator Holdco GmbH, 7.63%, 07/15/28(b)(d) |
596 | 540,623 | ||||||
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(b)(d) |
2,602 | 2,403,917 | ||||||
|
|
|||||||
7,206,515 | ||||||||
Media — 8.2% | ||||||||
Altice Financing SA, 5.75%, 08/15/29(b)(d) |
2,677 | 2,073,767 | ||||||
AMC Networks, Inc., 4.25%, 02/15/29 |
263 | 141,380 | ||||||
Cable One, Inc. |
||||||||
0.00%, 03/15/26(h)(i) |
136 | 111,180 | ||||||
4.00%, 11/15/30(b) |
493 | 385,156 | ||||||
CCO Holdings LLC/CCO Holdings Capital Corp.(b) |
||||||||
5.00%, 02/01/28 |
7 | 6,378 | ||||||
6.38%, 09/01/29(d) |
7,984 | 7,522,195 | ||||||
4.75%, 03/01/30(d) |
229 | 195,814 | ||||||
4.50%, 08/15/30(d) |
113 | 94,094 | ||||||
4.25%, 02/01/31 |
1,749 | 1,414,888 | ||||||
7.38%, 03/01/31(d) |
2,503 | 2,439,001 | ||||||
4.75%, 02/01/32 |
229 | 186,745 | ||||||
4.25%, 01/15/34 |
1,579 | 1,193,357 | ||||||
Charter Communications Operating LLC/Charter Communications Operating Capital |
||||||||
6.38%, 10/23/35 |
479 | 466,874 | ||||||
6.48%, 10/23/45 |
9,584 | 9,010,091 | ||||||
5.38%, 05/01/47 |
1,500 | 1,239,833 | ||||||
6.83%, 10/23/55 |
3,540 | 3,337,255 | ||||||
Clear Channel Outdoor Holdings, Inc.(b)(d) |
||||||||
5.13%, 08/15/27 |
6,338 | 5,754,225 | ||||||
7.75%, 04/15/28 |
1,309 | 1,027,565 | ||||||
Comcast Corp., 3.75%, 04/01/40(d) |
545 | 459,183 | ||||||
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26(b) |
4,099 | 3,981,426 | ||||||
Cox Communications, Inc., 8.38%, 03/01/39(b)(d) |
5,000 | 6,042,793 | ||||||
CSC Holdings LLC |
||||||||
5.25%, 06/01/24 |
1,125 | 1,046,298 | ||||||
5.38%, 02/01/28(b) |
336 | 269,990 | ||||||
11.25%, 05/15/28(b) |
2,282 | 2,212,924 | ||||||
4.13%, 12/01/30(b)(d) |
272 | 190,271 | ||||||
4.50%, 11/15/31(b) |
1,651 | 1,151,104 | ||||||
Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.88%, 08/15/27(b)(d) |
807 | 730,848 | ||||||
Discovery Communications LLC, 4.88%, 04/01/43(d) |
4,000 | 3,244,273 | ||||||
DISH DBS Corp. |
||||||||
7.75%, 07/01/26(d) |
1,110 | 680,391 | ||||||
5.25%, 12/01/26(b) |
1,142 | 916,081 | ||||||
5.75%, 12/01/28(b) |
189 | 140,575 | ||||||
DISH Network Corp., 11.75%, 11/15/27(b) |
276 | 269,351 | ||||||
Frontier Communications Holdings LLC(b) |
||||||||
5.00%, 05/01/28 |
640 | 552,199 | ||||||
8.75%, 05/15/30 |
2,693 | 2,632,068 | ||||||
GCI LLC, 4.75%, 10/15/28(b) |
160 | 136,416 | ||||||
Globe Telecom, Inc., (5-year CMT + 5.53%), 4.20%(a)(d)(e)(f) |
700 | 648,970 |
Security | Par (000) |
Value | ||||||
Media (continued) | ||||||||
HKT Capital No. 4 Ltd., 3.00%, 07/14/26(e) |
USD | 200 | $ | 184,656 | ||||
Iliad Holding SASU(b) |
||||||||
6.50%, 10/15/26(d) |
1,020 | 962,699 | ||||||
7.00%, 10/15/28 |
1,735 | 1,599,053 | ||||||
Interpublic Group of Cos., Inc., 5.40%, 10/01/48 |
2,215 | 2,061,507 | ||||||
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27(b) |
860 | 806,037 | ||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(b)(g) |
539 | 190,460 | ||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29(b) |
388 | 280,990 | ||||||
Live Nation Entertainment, Inc.(b) |
||||||||
4.88%, 11/01/24 |
136 | 133,888 | ||||||
5.63%, 03/15/26 |
25 | 24,420 | ||||||
6.50%, 05/15/27(d) |
2,865 | 2,880,250 | ||||||
4.75%, 10/15/27(d) |
711 | 663,007 | ||||||
3.75%, 01/15/28 |
155 | 138,338 | ||||||
Network i2i Ltd., (5-year CMT + 4.27%), 5.65%(a)(e)(f) |
695 | 673,219 | ||||||
Outfront Media Capital LLC/Outfront Media Capital Corp.(b) |
||||||||
5.00%, 08/15/27(d) |
998 | 905,885 | ||||||
4.25%, 01/15/29(d) |
461 | 387,406 | ||||||
4.63%, 03/15/30 |
151 | 125,799 | ||||||
Paramount Global, 5.85%, 09/01/43(d) |
1,300 | 1,107,845 | ||||||
Radiate Holdco LLC/Radiate Finance, Inc.(b) |
||||||||
4.50%, 09/15/26(d) |
1,066 | 849,885 | ||||||
6.50%, 09/15/28 |
2,175 | 1,269,254 | ||||||
Sinclair Television Group, Inc., 4.13%, 12/01/30(b)(d) |
735 | 481,425 | ||||||
Sirius XM Radio, Inc., 5.00%, 08/01/27(b) |
651 | 603,991 | ||||||
Stagwell Global LLC, 5.63%, 08/15/29(b) |
209 | 178,848 | ||||||
TEGNA, Inc., 4.75%, 03/15/26(b) |
64 | 61,108 | ||||||
Telenet Finance Luxembourg Notes SARL, 5.50%, 03/01/28(b) |
1,000 | 917,000 | ||||||
Time Warner Cable LLC, 6.55%, 05/01/37 |
3,519 | 3,373,574 | ||||||
Univision Communications, Inc.(b) |
||||||||
6.63%, 06/01/27 |
60 | 57,993 | ||||||
7.38%, 06/30/30(d) |
242 | 230,412 | ||||||
UPC Broadband Finco BV, 4.88%, 07/15/31(b) |
534 | 439,530 | ||||||
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28(b) |
1,452 | 1,270,112 | ||||||
Ziggo Bond Co. BV, 6.00%, 01/15/27(b)(d) |
955 | 876,518 | ||||||
Ziggo BV, 4.88%, 01/15/30(b) |
605 | 502,107 | ||||||
|
|
|||||||
86,142,175 | ||||||||
Metals & Mining — 2.0% | ||||||||
ABJA Investment Co. Pte. Ltd.(e) |
||||||||
4.45%, 07/24/23 |
200 | 199,500 | ||||||
5.45%, 01/24/28 |
306 | 303,010 | ||||||
Arconic Corp.(b) |
||||||||
6.00%, 05/15/25 |
705 | 710,607 | ||||||
6.13%, 02/15/28(d) |
607 | 614,529 | ||||||
ATI, Inc. |
||||||||
5.88%, 12/01/27 |
374 | 361,945 | ||||||
5.13%, 10/01/31 |
656 | 584,437 | ||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29(b) |
2,606 | 2,574,243 | ||||||
Carpenter Technology Corp. |
||||||||
6.38%, 07/15/28 |
58 | 56,840 | ||||||
7.63%, 03/15/30(d) |
108 | 109,221 | ||||||
Chinalco Capital Holdings Ltd., 2.13%, 06/03/26(e) |
200 | 181,398 | ||||||
Constellium SE(b) |
||||||||
5.88%, 02/15/26(j) |
830 | 813,177 | ||||||
3.75%, 04/15/29 |
1,731 | 1,472,660 |
88 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Metals & Mining (continued) | ||||||||||||
First Quantum Minerals Ltd., 8.63%, 06/01/31(b) |
USD | 495 | $ | 504,900 | ||||||||
JSW Steel Ltd., 3.95%, 04/05/27(d)(e) |
500 | 442,735 | ||||||||||
Kaiser Aluminum Corp.(b) |
||||||||||||
4.63%, 03/01/28(d) |
944 | 825,585 | ||||||||||
4.50%, 06/01/31 |
700 | 558,026 | ||||||||||
New Gold, Inc., 7.50%, 07/15/27(b) |
1,357 | 1,267,139 | ||||||||||
Novelis Corp.(b) |
||||||||||||
3.25%, 11/15/26 |
538 | 486,980 | ||||||||||
4.75%, 01/30/30(d) |
3,326 | 2,955,839 | ||||||||||
3.88%, 08/15/31 |
932 | 766,674 | ||||||||||
Periama Holdings LLC, 5.95%, 04/19/26(e) |
200 | 191,890 | ||||||||||
Roller Bearing Co. of America, Inc., 4.38%, 10/15/29(b) |
249 | 223,081 | ||||||||||
Southern Copper Corp., 5.88%, 04/23/45(d) |
3,870 | 3,938,209 | ||||||||||
Steel Dynamics, Inc., 3.25%, 10/15/50(d) |
1,145 | 752,442 | ||||||||||
Vedanta Resources Finance II PLC(e) |
||||||||||||
13.88%, 01/21/24 |
400 | 364,148 | ||||||||||
8.95%, 03/11/25 |
200 | 150,938 | ||||||||||
|
|
|||||||||||
21,410,153 | ||||||||||||
Multi-Utilities — 0.1% | ||||||||||||
Abu Dhabi National Energy Co. PJSC, 4.38%, 04/23/25(e) |
200 | 197,044 | ||||||||||
AmeriGas Partners LP/AmeriGas Finance Corp., 9.38%, 06/01/28(b) |
416 | 422,498 | ||||||||||
|
|
|||||||||||
619,542 | ||||||||||||
Offshore Drilling & Other Services — 0.1% | ||||||||||||
Entegris Escrow Corp., 4.75%, 04/15/29(b) |
258 | 239,508 | ||||||||||
Entegris, Inc., 4.38%, 04/15/28(b) |
120 | 108,598 | ||||||||||
Lam Research Corp., 4.88%, 03/15/49(d) |
875 | 847,042 | ||||||||||
|
|
|||||||||||
1,195,148 | ||||||||||||
Oil, Gas & Consumable Fuels — 14.2% | ||||||||||||
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26(b) |
557 | 547,252 | ||||||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp.(b) |
||||||||||||
5.75%, 03/01/27 |
95 | 91,621 | ||||||||||
5.75%, 01/15/28 |
127 | 121,068 | ||||||||||
5.38%, 06/15/29(d) |
1,095 | 1,017,453 | ||||||||||
Apache Corp. |
||||||||||||
4.25%, 01/15/30(d) |
131 | 116,682 | ||||||||||
5.10%, 09/01/40 |
6 | 4,875 | ||||||||||
5.35%, 07/01/49 |
198 | 153,945 | ||||||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp.(b) |
||||||||||||
9.00%, 11/01/27 |
680 | 845,390 | ||||||||||
8.25%, 12/31/28 |
1,334 | 1,311,861 | ||||||||||
Baytex Energy Corp., 8.50%, 04/30/30 |
110 | 107,423 | ||||||||||
Buckeye Partners LP |
||||||||||||
4.13%, 03/01/25(b) |
594 | 564,300 | ||||||||||
5.85%, 11/15/43 |
383 | 283,420 | ||||||||||
5.60%, 10/15/44 |
191 | 137,520 | ||||||||||
Callon Petroleum Co. |
||||||||||||
8.25%, 07/15/25 |
69 | 68,483 | ||||||||||
6.38%, 07/01/26 |
245 | 238,481 | ||||||||||
8.00%, 08/01/28(b)(d) |
1,054 | 1,042,310 | ||||||||||
7.50%, 06/15/30(b)(d) |
859 | 810,786 | ||||||||||
Cheniere Energy Partners LP |
||||||||||||
4.50%, 10/01/29 |
1,312 | 1,204,096 |
Security | Par (000) |
Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Cheniere Energy Partners LP (continued) |
||||||||||||
3.25%, 01/31/32(d) |
USD | 786 | $ | 646,603 | ||||||||
Chesapeake Energy Corp.(b) |
||||||||||||
5.88%, 02/01/29 |
80 | 75,990 | ||||||||||
6.75%, 04/15/29(d) |
705 | 699,526 | ||||||||||
Civitas Resources, Inc.(b) |
||||||||||||
8.38%, 07/01/28 |
1,141 | 1,153,893 | ||||||||||
8.75%, 07/01/31 |
945 | 958,041 | ||||||||||
CNOOC Finance 2014 ULC, Series 2014, 4.88%, 04/30/44 |
250 | 239,372 | ||||||||||
CNOOC Finance 2015 USA LLC, Series 2015, 3.50%, 05/05/25 |
250 | 240,630 | ||||||||||
CNOOC Petroleum North America ULC, 6.40%, 05/15/37 |
2,000 | 2,215,920 | ||||||||||
CNX Resources Corp., 7.38%, 01/15/31(b) |
166 | 161,508 | ||||||||||
Comstock Resources, Inc.(b) |
||||||||||||
6.75%, 03/01/29(d) |
490 | 448,324 | ||||||||||
5.88%, 01/15/30 |
738 | 640,710 | ||||||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31(b) |
2,468 | 2,201,240 | ||||||||||
Crescent Energy Finance LLC(b) |
||||||||||||
7.25%, 05/01/26 |
1,096 | 1,028,607 | ||||||||||
9.25%, 02/15/28(d) |
403 | 391,007 | ||||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.(b) |
||||||||||||
6.00%, 02/01/29 |
510 | 476,212 | ||||||||||
8.00%, 04/01/29 |
142 | 143,762 | ||||||||||
7.38%, 02/01/31 |
417 | 411,017 | ||||||||||
CrownRock LP/CrownRock Finance, Inc.(b) |
|
|||||||||||
5.63%, 10/15/25 |
1,369 | 1,348,739 | ||||||||||
5.00%, 05/01/29 |
86 | 80,518 | ||||||||||
DCP Midstream Operating LP(b) |
||||||||||||
6.45%, 11/03/36 |
177 | 181,752 | ||||||||||
6.75%, 09/15/37 |
1,218 | 1,292,639 | ||||||||||
Devon Energy Corp. |
||||||||||||
8.25%, 08/01/23(d) |
811 | 811,422 | ||||||||||
5.25%, 09/15/24 |
100 | 99,195 | ||||||||||
5.25%, 10/15/27 |
130 | 128,038 | ||||||||||
5.88%, 06/15/28 |
204 | 203,303 | ||||||||||
4.50%, 01/15/30 |
117 | 110,135 | ||||||||||
Diamondback Energy, Inc.(d) |
||||||||||||
3.50%, 12/01/29 |
692 | 622,884 | ||||||||||
6.25%, 03/15/33 |
2,880 | 2,979,268 | ||||||||||
DT Midstream, Inc.(b) |
||||||||||||
4.13%, 06/15/29(d) |
591 | 518,647 | ||||||||||
4.38%, 06/15/31 |
568 | 489,192 | ||||||||||
Dycom Industries, Inc., 4.50%, 04/15/29(b) |
26 | 23,613 | ||||||||||
Earthstone Energy Holdings LLC |
||||||||||||
8.00%, 04/15/27(b)(d) |
444 | 428,820 | ||||||||||
9.88%, 07/15/31 |
489 | 483,352 | ||||||||||
eG Global Finance PLC(b) |
||||||||||||
6.75%, 02/07/25(d) |
503 | 488,539 | ||||||||||
8.50%, 10/30/25 |
787 | 763,600 | ||||||||||
Enbridge, Inc.(a) |
||||||||||||
(3-mo. LIBOR US + 3.64%), 6.25%, 03/01/78 |
5,000 | 4,600,670 | ||||||||||
Series 16-A, (3-mo. LIBOR US + 3.89%), 6.00%, 01/15/77 |
5,880 | 5,454,222 | ||||||||||
Endeavor Energy Resources LP/EER Finance, Inc., 5.75%, 01/30/28(b) |
518 | 506,697 |
S C H E D U L E O F I N V E S T M E N T S |
89 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Energy Transfer LP |
||||||||||||
5.50%, 06/01/27 |
USD | 406 | $ | 403,799 | ||||||||
6.13%, 12/15/45(d) |
3,579 | 3,400,258 | ||||||||||
Series B, (3-mo. LIBOR US + 4.16%), 6.63%(a)(f) |
5,000 | 3,825,346 | ||||||||||
Series H, (5-year CMT + 5.69%), 6.50%(a)(f) |
121 | 109,907 | ||||||||||
EnLink Midstream LLC |
||||||||||||
5.63%, 01/15/28(b) |
594 | 574,804 | ||||||||||
5.38%, 06/01/29 |
423 | 402,997 | ||||||||||
6.50%, 09/01/30(b) |
347 | 346,577 | ||||||||||
EnLink Midstream Partners LP |
||||||||||||
4.15%, 06/01/25 |
20 | 19,402 | ||||||||||
4.85%, 07/15/26 |
64 | 61,760 | ||||||||||
5.60%, 04/01/44 |
626 | 524,103 | ||||||||||
5.45%, 06/01/47 |
215 | 176,731 | ||||||||||
Enterprise Products Operating LLC |
||||||||||||
4.90%, 05/15/46(d) |
5,375 | 4,953,546 | ||||||||||
Series E, (3-mo. CME Term SOFR + 3.29%), 5.25%, 08/16/77(a) |
4,800 | 4,197,398 | ||||||||||
EQM Midstream Partners LP |
||||||||||||
6.00%, 07/01/25(b) |
50 | 49,448 | ||||||||||
4.13%, 12/01/26 |
226 | 210,188 | ||||||||||
7.50%, 06/01/30(b) |
141 | 142,684 | ||||||||||
4.75%, 01/15/31(b)(d) |
802 | 702,539 | ||||||||||
Exxon Mobil Corp., 3.45%, 04/15/51(d) |
3,890 | 3,022,502 | ||||||||||
Genesis Energy LP/Genesis Energy Finance Corp. |
||||||||||||
6.50%, 10/01/25 |
99 | 97,495 | ||||||||||
7.75%, 02/01/28 |
368 | 350,016 | ||||||||||
8.88%, 04/15/30 |
232 | 226,663 | ||||||||||
Gulfport Energy Corp., 8.00%, 05/17/26(b) |
53 | 52,747 | ||||||||||
Harbour Energy PLC, 5.50%, 10/15/26(b) |
200 | 183,263 | ||||||||||
Harvest Midstream I LP, 7.50%, 09/01/28(b) |
115 | 114,016 | ||||||||||
Hess Corp., 5.80%, 04/01/47(d) |
5,000 | 4,857,645 | ||||||||||
Hess Midstream Operations LP, 4.25%, 02/15/30(b) |
497 | 433,632 | ||||||||||
Hilcorp Energy I LP/Hilcorp Finance Co.(b) |
||||||||||||
6.25%, 11/01/28 |
238 | 224,030 | ||||||||||
5.75%, 02/01/29 |
234 | 211,884 | ||||||||||
6.00%, 04/15/30 |
32 | 29,138 | ||||||||||
ITT Holdings LLC, 6.50%, 08/01/29(b)(d) |
711 | 599,003 | ||||||||||
Kinder Morgan, Inc. 7.80%, 08/01/31 |
197 | 221,553 | ||||||||||
7.75%, 01/15/32(d) |
4,586 | 5,177,738 | ||||||||||
Kinetik Holdings LP, 5.88%, 06/15/30(b)(d) |
807 | 767,045 | ||||||||||
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26(b) |
58 | 56,095 | ||||||||||
Marathon Petroleum Corp., 5.13%, 12/15/26(d) |
937 | 927,760 | ||||||||||
Matador Resources Co. 5.88%, 09/15/26 |
415 | 402,154 | ||||||||||
6.88%, 04/15/28 |
412 | 407,795 | ||||||||||
Medco Bell Pte. Ltd., 6.38%, 01/30/27(e) |
300 | 281,841 | ||||||||||
Medco Laurel Tree Pte. Ltd., 6.95%, 11/12/28(d)(e) |
400 | 366,044 | ||||||||||
Medco Oak Tree Pte. Ltd., 7.38%, 05/14/26(e) |
200 | 196,562 | ||||||||||
MPLX LP 5.20%, 03/01/47(d) |
3,500 | 3,069,632 | ||||||||||
4.70%, 04/15/48(d) |
5,000 | 4,103,844 | ||||||||||
5.50%, 02/15/49(d) |
2,640 | 2,392,356 | ||||||||||
5.65%, 03/01/53 |
885 | 826,830 | ||||||||||
Murphy Oil Corp. 5.75%, 08/15/25 |
2 | 1,974 | ||||||||||
5.88%, 12/01/27 |
46 | 44,688 | ||||||||||
5.88%, 12/01/42 |
47 | 39,058 | ||||||||||
Murphy Oil USA, Inc., 4.75%, 09/15/29 |
323 | 296,537 |
Security | Par (000) |
Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Nabors Industries Ltd.(b) |
||||||||||||
7.25%, 01/15/26 |
USD | 260 | $ | 242,715 | ||||||||
7.50%, 01/15/28 |
794 | 694,798 | ||||||||||
Nabors Industries, Inc. |
||||||||||||
5.75%, 02/01/25(d) |
1,318 | 1,275,455 | ||||||||||
7.38%, 05/15/27(b) |
692 | 658,459 | ||||||||||
New Fortress Energy, Inc.(b) |
||||||||||||
6.75%, 09/15/25 |
1,625 | 1,524,307 | ||||||||||
6.50%, 09/30/26 |
1,605 | 1,435,988 | ||||||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26(b)(d) |
470 | 462,890 | ||||||||||
NGPL PipeCo LLC, 7.77%, 12/15/37(b) |
1,117 | 1,190,750 | ||||||||||
Northern Oil and Gas, Inc. 8.13%, 03/01/28(b) |
1,220 | 1,195,600 | ||||||||||
8.75%, 06/15/31 |
486 | 477,495 | ||||||||||
NuStar Logistics LP |
||||||||||||
6.00%, 06/01/26 |
373 | 363,342 | ||||||||||
6.38%, 10/01/30 |
45 | 42,932 | ||||||||||
Occidental Petroleum Corp. |
||||||||||||
6.45%, 09/15/36 |
202 | 207,313 | ||||||||||
6.20%, 03/15/40 |
669 | 659,360 | ||||||||||
PDC Energy, Inc., 5.75%, 05/15/26(d) |
759 | 755,961 | ||||||||||
Permian Resources Operating LLC(b) |
||||||||||||
5.38%, 01/15/26 |
64 | 60,846 | ||||||||||
7.75%, 02/15/26 |
635 | 637,701 | ||||||||||
6.88%, 04/01/27 |
208 | 204,880 | ||||||||||
5.88%, 07/01/29(d) |
571 | 537,888 | ||||||||||
Pertamina Persero PT(e) |
||||||||||||
1.40%, 02/09/26 |
250 | 225,188 | ||||||||||
2.30%, 02/09/31 |
200 | 162,706 | ||||||||||
Petroleos Mexicanos |
||||||||||||
4.63%, 09/21/23(d) |
3,965 | 3,924,755 | ||||||||||
6.70%, 02/16/32 |
695 | 527,470 | ||||||||||
Petronas Capital Ltd.(e) |
||||||||||||
2.48%, 01/28/32 |
200 | 167,950 | ||||||||||
4.50%, 03/18/45 |
200 | 185,744 | ||||||||||
Plains All American Pipeline LP, Series B, (3-mo. LIBOR US + 4.11%), 9.43%(a)(f) |
2,215 | 1,971,635 | ||||||||||
Precision Drilling Corp., 6.88%, 01/15/29(b) |
18 | 16,263 | ||||||||||
Reliance Industries Ltd., 3.67%, 11/30/27(e) |
300 | 281,322 | ||||||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29(b) |
191 | 176,189 | ||||||||||
Rockies Express Pipeline LLC, 6.88%, 04/15/40(b) |
580 | 523,456 | ||||||||||
Sabine Pass Liquefaction LLC(d) |
||||||||||||
5.75%, 05/15/24 |
2,575 | 2,570,569 | ||||||||||
5.88%, 06/30/26 |
1,481 | 1,493,124 | ||||||||||
Sinopec Group Overseas Development 2017 Ltd., |
||||||||||||
3.63%, 04/12/27(e) |
200 | 191,916 | ||||||||||
Sinopec Group Overseas Development 2018 Ltd., |
||||||||||||
2.30%, 01/08/31(d)(e) |
500 | 431,555 | ||||||||||
SM Energy Co. |
||||||||||||
5.63%, 06/01/25 |
196 | 191,529 | ||||||||||
6.75%, 09/15/26 |
327 | 318,730 | ||||||||||
6.63%, 01/15/27 |
75 | 72,844 | ||||||||||
6.50%, 07/15/28 |
173 | 166,080 | ||||||||||
Southwestern Energy Co. 5.70%, 01/23/25 |
29 | 28,847 | ||||||||||
5.38%, 02/01/29(d) |
308 | 290,032 | ||||||||||
4.75%, 02/01/32 |
8 | 7,051 | ||||||||||
Summit Digitel Infrastructure Ltd., 2.88%, 08/12/31(e) |
200 | 158,850 | ||||||||||
Sunoco LP/Sunoco Finance Corp. 6.00%, 04/15/27 |
141 | 138,919 |
90 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) |
| |||||||||||
Sunoco LP/Sunoco Finance Corp. (continued) |
| |||||||||||
5.88%, 03/15/28 |
USD | 317 | $ | 304,835 | ||||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.(b) |
||||||||||||
7.50%, 10/01/25 |
41 | 40,921 | ||||||||||
6.00%, 03/01/27 |
150 | 140,761 | ||||||||||
5.50%, 01/15/28 |
52 | 47,527 | ||||||||||
6.00%, 12/31/30 |
102 | 89,862 | ||||||||||
6.00%, 09/01/31 |
239 | 205,644 | ||||||||||
Tap Rock Resources LLC, 7.00%, 10/01/26(b) |
1,355 | 1,395,650 | ||||||||||
TransCanada PipeLines Ltd., 4.88%, 05/15/48(d) |
4,000 | 3,581,970 | ||||||||||
Transcanada Trust, (3-mo. LIBOR US + 3.53%), 5.63%, 05/20/75(a)(d) |
2,755 | 2,630,336 | ||||||||||
Transocean Titan Financing Ltd., 8.38%, 02/01/28(b) |
269 | 274,716 | ||||||||||
Transocean, Inc.(b) |
||||||||||||
7.50%, 01/15/26 |
700 | 665,000 | ||||||||||
11.50%, 01/30/27 |
53 | 54,921 | ||||||||||
8.75%, 02/15/30 |
1,606 | 1,630,090 | ||||||||||
Venture Global Calcasieu Pass LLC(b) |
||||||||||||
3.88%, 08/15/29 |
1,575 | 1,375,905 | ||||||||||
4.13%, 08/15/31 |
910 | 782,569 | ||||||||||
3.88%, 11/01/33(d) |
1,141 | 934,349 | ||||||||||
Venture Global LNG, Inc.(b) |
||||||||||||
8.13%, 06/01/28 |
1,960 | 1,990,644 | ||||||||||
8.38%, 06/01/31 |
3,132 | 3,157,580 | ||||||||||
Vermilion Energy, Inc., 6.88%, 05/01/30(b) |
270 | 248,856 | ||||||||||
Western Midstream Operating LP |
||||||||||||
5.45%, 04/01/44 |
12 | 10,137 | ||||||||||
5.30%, 03/01/48(d) |
945 | 788,815 | ||||||||||
5.50%, 08/15/48 |
117 | 97,843 | ||||||||||
5.50%, 02/01/50 |
1,039 | 851,014 | ||||||||||
Williams Cos., Inc. |
||||||||||||
4.55%, 06/24/24(d) |
527 | 519,864 | ||||||||||
8.75%, 03/15/32(d) |
2,478 | 2,941,740 | ||||||||||
5.10%, 09/15/45 |
5,075 | 4,564,213 | ||||||||||
Woodside Finance Ltd., 3.70%, 09/15/26(e) |
200 | 188,135 | ||||||||||
|
|
|||||||||||
148,862,901 | ||||||||||||
Passenger Airlines — 1.5% | ||||||||||||
Air Canada, 3.88%, 08/15/26(b) |
549 | 508,842 | ||||||||||
Allegiant Travel Co., 7.25%, 08/15/27(b) |
183 | 182,325 | ||||||||||
American Airlines, Inc. |
||||||||||||
5.18%, 10/15/23(c) |
588 | 583,401 | ||||||||||
11.75%, 07/15/25(b) |
1,475 | 1,617,379 | ||||||||||
7.25%, 02/15/28(b) |
137 | 136,184 | ||||||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(b) |
||||||||||||
5.50%, 04/20/26 |
403 | 399,634 | ||||||||||
5.75%, 04/20/29 |
1,764 | 1,713,058 | ||||||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26(b)(d) |
396 | 374,829 | ||||||||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(b)(d) |
1,793 | 1,797,333 | ||||||||||
Singapore Airlines Ltd., 3.00%, 07/20/26(e) |
200 | 186,406 | ||||||||||
Turkish Airlines Pass-Through Trust, Series 2015-1, Class A, 4.20%, 09/15/28(b) |
1,548 | 1,399,027 | ||||||||||
United Airlines Pass-Through Trust, Series 2020-1, Class A, 5.88%, 04/15/29(d) |
4,879 | 4,837,241 |
Security | Par (000) |
Value | ||||||||||
Passenger Airlines (continued) |
| |||||||||||
United Airlines, Inc.(b) |
||||||||||||
4.38%, 04/15/26 |
USD | 1,097 | $ | 1,042,266 | ||||||||
4.63%, 04/15/29(d) |
1,362 | 1,241,011 | ||||||||||
VistaJet Malta Finance PLC/Vista Management Holding, Inc., 7.88%, 05/01/27(b) |
192 | 172,502 | ||||||||||
|
|
|||||||||||
16,191,438 | ||||||||||||
Pharmaceuticals — 4.2% | ||||||||||||
AbbVie, Inc.(d) |
||||||||||||
4.75%, 03/15/45 |
5,485 | 5,015,243 | ||||||||||
4.70%, 05/14/45 |
3,255 | 2,973,877 | ||||||||||
CVS Health Corp.(d) |
||||||||||||
5.13%, 07/20/45 |
3,879 | 3,588,585 | ||||||||||
5.05%, 03/25/48 |
8,205 | 7,562,899 | ||||||||||
Jazz Securities DAC, 4.38%, 01/15/29(b) |
853 | 761,038 | ||||||||||
Merck & Co., Inc., 6.50%, 12/01/33(d) |
6,420 | 7,364,073 | ||||||||||
Option Care Health, Inc., 4.38%, 10/31/29(b)(d) |
461 | 405,753 | ||||||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV(b) |
||||||||||||
4.13%, 04/30/28 |
1,633 | 1,449,338 | ||||||||||
5.13%, 04/30/31(d) |
1,599 | 1,319,214 | ||||||||||
Pfizer Investment Enterprises Pte. Ltd., 5.30%, 05/19/53 |
3,070 | 3,191,822 | ||||||||||
PRA Health Sciences, Inc., 2.88%, 07/15/26(b) |
1,021 | 924,448 | ||||||||||
Prestige Brands, Inc., 3.75%, 04/01/31(b) |
233 | 192,899 | ||||||||||
Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30 |
8,270 | 6,872,789 | ||||||||||
Teva Pharmaceutical Finance Netherlands III BV |
||||||||||||
3.15%, 10/01/26 |
1,174 | 1,045,594 | ||||||||||
4.75%, 05/09/27 |
200 | 183,777 | ||||||||||
7.88%, 09/15/29(d) |
451 | 462,767 | ||||||||||
8.13%, 09/15/31 |
200 | 208,350 | ||||||||||
|
|
|||||||||||
43,522,466 | ||||||||||||
Real Estate — 0.0% | ||||||||||||
VICI Properties LP/VICI Note Co., Inc., 4.50%, 01/15/28(b) |
430 | 395,082 | ||||||||||
|
|
|||||||||||
Real Estate Management & Development — 1.1% | ||||||||||||
Agile Group Holdings Ltd.(e) |
||||||||||||
5.75%, 01/02/25 |
200 | 60,102 | ||||||||||
6.05%, 10/13/25 |
200 | 43,106 | ||||||||||
AYC Finance Ltd., 3.90%(e)(f) |
300 | 189,000 | ||||||||||
China Overseas Finance Cayman VII Ltd., 4.75%, 04/26/28(d)(e) |
200 | 194,590 | ||||||||||
China Resources Land Ltd., 3.75%, 08/26/24(e) |
200 | 194,394 | ||||||||||
Fantasia Holdings Group Co. Ltd., 7.95%, 07/05/22(k)(l) |
1,050 | 67,851 | ||||||||||
Global Prime Capital Pte. Ltd., 5.95%, 01/23/25(e) |
200 | 190,442 | ||||||||||
Greystar Real Estate Partners LLC, 5.75%, 12/01/25(b) |
360 | 351,546 | ||||||||||
Howard Hughes Corp.(b) |
||||||||||||
5.38%, 08/01/28 |
399 | 355,140 | ||||||||||
4.13%, 02/01/29 |
176 | 145,594 | ||||||||||
Modern Land China Co. Ltd.(e)(g)(k)(l) |
||||||||||||
(8.00% Cash or 8.00% PIK), 8.00%, 12/30/24 |
219 | 12,050 | ||||||||||
(9.00% Cash or 9.00% PIK), 9.00%, 12/30/25 |
253 | 13,717 | ||||||||||
(9.00% Cash or 9.00% PIK), 9.00%, 12/30/26 |
337 | 16,854 | ||||||||||
(9.00% Cash or 9.00% PIK), 9.00%, 12/30/27 |
492 | 27,057 | ||||||||||
New Metro Global Ltd., 4.50%, 05/02/26(e) |
349 | 137,855 | ||||||||||
Northwest Florida Timber Finance LLC, 4.75%, 03/04/29(b)(d) |
4,485 | 4,135,473 |
S C H E D U L E O F I N V E S T M E N T S |
91 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Real Estate Management & Development (continued) |
| |||||||||||
Pakuwon Jati Tbk PT, 4.88%, 04/29/28(e) |
USD | 500 | $ | 447,485 | ||||||||
Realogy Group LLC/Realogy Co.-Issuer Corp.(b) |
||||||||||||
5.75%, 01/15/29 |
362 | 270,853 | ||||||||||
5.25%, 04/15/30 |
263 | 186,910 | ||||||||||
RKPF Overseas Ltd.(e) |
||||||||||||
Series 2019-A, 5.90%, 03/05/25(d) |
200 | 125,584 | ||||||||||
Series 2020-A, 5.20%, 01/12/26 |
306 | 159,503 | ||||||||||
Shimao Group Holdings Ltd., 3.45%, 01/11/31(e)(k)(l) |
200 | 17,000 | ||||||||||
Shui On Development Holding Ltd.(e) |
||||||||||||
5.75%, 11/12/23 |
225 | 217,217 | ||||||||||
5.50%, 03/03/25(d) |
230 | 188,292 | ||||||||||
Sinochem Offshore Capital Co. Ltd., 1.50%, 09/23/26(e) |
200 | 174,572 | ||||||||||
Starwood Property Trust, Inc., 4.38%, 01/15/27(b) |
123 | 105,934 | ||||||||||
Sunac China Holdings Ltd., 7.00%, 07/09/25(e)(k)(l) |
200 | 32,000 | ||||||||||
Theta Capital Pte. Ltd., 8.13%, 01/22/25(e) |
200 | 166,246 | ||||||||||
VICI Properties LP, 5.13%, 05/15/32(d) |
3,155 | 2,951,957 | ||||||||||
Wanda Properties International Co. Ltd., 7.25%, 01/29/24(e) |
285 | 177,056 | ||||||||||
Wharf REIC Finance BVI Ltd., 2.88%, 05/07/30(e) |
200 | 174,950 | ||||||||||
Yango Justice International Ltd.(e)(k)(l) |
||||||||||||
8.25%, 11/25/23 |
200 | 2,000 | ||||||||||
7.50%, 04/15/24 |
200 | 2,000 | ||||||||||
Yanlord Land HK Co. Ltd.(e) |
||||||||||||
6.80%, 02/27/24(d) |
200 | 194,000 | ||||||||||
5.13%, 05/20/26 |
200 | 161,000 | ||||||||||
Yuzhou Group Holdings Co. Ltd., 7.38%, 01/13/26(e)(k)(l) |
550 | 30,250 | ||||||||||
|
|
|||||||||||
11,919,580 | ||||||||||||
Semiconductors & Semiconductor Equipment — 2.5% | ||||||||||||
Broadcom, Inc., 5.00%, 04/15/30(d) |
10,970 | 10,769,816 | ||||||||||
NVIDIA Corp.(d) |
||||||||||||
3.50%, 04/01/50 |
2,785 | 2,263,180 | ||||||||||
3.70%, 04/01/60 |
1,760 | 1,451,015 | ||||||||||
NXP BV/NXP Funding LLC/NXP USA, Inc. |
||||||||||||
4.40%, 06/01/27 |
750 | 723,262 | ||||||||||
3.40%, 05/01/30(d) |
1,755 | 1,552,192 | ||||||||||
QUALCOMM, Inc.(d) |
||||||||||||
4.30%, 05/20/47 |
3,500 | 3,173,114 | ||||||||||
6.00%, 05/20/53 |
1,993 | 2,230,760 | ||||||||||
Sensata Technologies BV(b) |
||||||||||||
5.63%, 11/01/24 |
695 | 689,756 | ||||||||||
5.00%, 10/01/25 |
572 | 560,003 | ||||||||||
4.00%, 04/15/29 |
207 | 184,289 | ||||||||||
Sensata Technologies, Inc., 4.38%, 02/15/30(b) |
2,150 | 1,922,632 | ||||||||||
SK Hynix, Inc., 1.50%, 01/19/26(e) |
200 | 176,872 | ||||||||||
Synaptics, Inc., 4.00%, 06/15/29(b) |
16 | 13,414 | ||||||||||
TSMC Global Ltd., 2.25%, 04/23/31(e) |
250 | 206,015 | ||||||||||
|
|
|||||||||||
25,916,320 | ||||||||||||
Software — 2.3% | ||||||||||||
Alteryx, Inc., 8.75%, 03/15/28(b)(d) |
372 | 365,410 | ||||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28(b) |
859 | 768,805 | ||||||||||
Boxer Parent Co., Inc.(b) |
||||||||||||
7.13%, 10/02/25 |
764 | 764,676 | ||||||||||
9.13%, 03/01/26 |
392 | 390,040 | ||||||||||
Capstone Borrower, Inc., 8.00%, 06/15/30 |
453 | 447,342 | ||||||||||
Central Parent, Inc./CDK Global, Inc., 7.25%, 06/15/29(b)(d) |
819 | 809,820 |
Security | Par (000) |
Value | ||||||||||
Software (continued) |
| |||||||||||
Cloud Software Group, Inc. |
||||||||||||
6.50%, 03/31/29(b) |
USD | 4,570 | $ | 4,069,040 | ||||||||
9.00%, 09/30/29 |
2,247 | 1,962,607 | ||||||||||
Consensus Cloud Solutions, Inc., 6.50%, 10/15/28(b) |
286 | 244,530 | ||||||||||
Crowdstrike Holdings, Inc., 3.00%, 02/15/29 |
61 | 52,603 | ||||||||||
Elastic NV, 4.13%, 07/15/29(b) |
718 | 619,400 | ||||||||||
Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 4.63%, 05/01/28(b) |
205 | 174,250 | ||||||||||
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32(b) |
201 | 173,508 | ||||||||||
MicroStrategy, Inc., 6.13%, 06/15/28(b)(d) |
180 | 161,387 | ||||||||||
MSCI, Inc.(b) |
||||||||||||
3.63%, 09/01/30 |
81 | 69,853 | ||||||||||
3.88%, 02/15/31 |
707 | 612,634 | ||||||||||
3.25%, 08/15/33 |
173 | 139,327 | ||||||||||
Open Text Corp., 6.90%, 12/01/27(b) |
898 | 914,191 | ||||||||||
Oracle Corp.(d) |
||||||||||||
6.15%, 11/09/29 |
2,385 | 2,484,139 | ||||||||||
3.95%, 03/25/51 |
4,425 | 3,345,841 | ||||||||||
5.55%, 02/06/53 |
1,280 | 1,239,479 | ||||||||||
PTC, Inc.(b) |
||||||||||||
3.63%, 02/15/25 |
166 | 160,296 | ||||||||||
4.00%, 02/15/28 |
365 | 336,022 | ||||||||||
SS&C Technologies, Inc., 5.50%, 09/30/27(b) |
3,719 | 3,560,302 | ||||||||||
Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25(b)(d) |
955 | 774,902 | ||||||||||
|
|
|||||||||||
24,640,404 | ||||||||||||
Specialized REITs — 0.1% | ||||||||||||
Iron Mountain, Inc., 7.00%, 02/15/29 |
794 | 795,336 | ||||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 10.50%, 02/15/28(b) |
754 | 748,016 | ||||||||||
|
|
|||||||||||
1,543,352 | ||||||||||||
Specialty Retail(b) — 0.2% | ||||||||||||
PetSmart, Inc./PetSmart Finance Corp. |
||||||||||||
4.75%, 02/15/28 |
481 | 444,499 | ||||||||||
7.75%, 02/15/29(d) |
1,317 | 1,308,542 | ||||||||||
Staples, Inc., 7.50%, 04/15/26 |
276 | 227,952 | ||||||||||
|
|
|||||||||||
1,980,993 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.7% | ||||||||||||
Coherent Corp., 5.00%, 12/15/29(b)(d) |
886 | 799,712 | ||||||||||
Dell International LLC/EMC Corp.(d) |
||||||||||||
5.85%, 07/15/25 |
2,395 | 2,403,746 | ||||||||||
8.35%, 07/15/46 |
2,355 | 2,887,959 | ||||||||||
Seagate HDD Cayman(b) |
||||||||||||
8.25%, 12/15/29 |
532 | 555,658 | ||||||||||
8.50%, 07/15/31 |
675 | 707,866 | ||||||||||
|
|
|||||||||||
7,354,941 | ||||||||||||
Textiles, Apparel & Luxury Goods(b) — 0.1% | ||||||||||||
Crocs, Inc., 4.13%, 08/15/31 |
244 | 197,030 | ||||||||||
Hanesbrands, Inc. |
||||||||||||
4.88%, 05/15/26 |
145 | 135,363 | ||||||||||
9.00%, 02/15/31(d) |
440 | 443,461 | ||||||||||
Levi Strauss & Co., 3.50%, 03/01/31 |
523 | 432,782 | ||||||||||
William Carter Co., 5.63%, 03/15/27 |
365 | 354,170 | ||||||||||
|
|
|||||||||||
1,562,806 | ||||||||||||
Tobacco — 2.5% | ||||||||||||
Altria Group, Inc., 10.20%, 02/06/39 |
13,392 | 18,103,699 |
92 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Tobacco (continued) | ||||||||||||
BAT Capital Corp., 4.54%, 08/15/47(d) |
USD | 3,000 | $ | 2,207,607 | ||||||||
BAT International Finance PLC, 1.67%, 03/25/26(d) |
4,350 | 3,910,951 | ||||||||||
Reynolds American, Inc., 5.85%, 08/15/45(d) |
2,335 | 2,076,526 | ||||||||||
|
|
|||||||||||
26,298,783 | ||||||||||||
Transportation Infrastructure — 0.6% | ||||||||||||
FedEx Corp., 5.25%, 05/15/50(d) |
6,000 | 5,766,006 | ||||||||||
SF Holding Investment 2021 Ltd., 2.38%, 11/17/26(e) |
200 | 179,784 | ||||||||||
Signature Aviation U.S. Holdings, Inc., 4.00%, 03/01/28(b) |
541 | 486,927 | ||||||||||
XPO Escrow Sub LLC, 7.50%, 11/15/27(b) |
105 | 107,292 | ||||||||||
|
|
|||||||||||
6,540,009 | ||||||||||||
Wireless Telecommunication Services — 1.5% | ||||||||||||
Altice France SA/France(b) |
||||||||||||
5.13%, 01/15/29 |
1,346 | 959,559 | ||||||||||
5.13%, 07/15/29 |
796 | 565,059 | ||||||||||
American Tower Corp., 3.60%, 01/15/28(d) |
4,000 | 3,682,756 | ||||||||||
Crown Castle, Inc., 4.15%, 07/01/50(d) |
820 | 650,566 | ||||||||||
Digicel International Finance Ltd./Digicel International Holdings Ltd., 8.75%, 05/25/24(b) |
635 | 580,790 | ||||||||||
SBA Communications Corp. |
||||||||||||
3.13%, 02/01/29(d) |
3,072 | 2,603,997 | ||||||||||
3.88%, 02/15/27 |
30 | 27,636 | ||||||||||
Sprint LLC, 7.63%, 03/01/26 |
1,096 | 1,138,496 | ||||||||||
T-Mobile U.S., Inc. |
||||||||||||
4.75%, 02/01/28(d) |
1,013 | 984,101 | ||||||||||
2.63%, 02/15/29 |
438 | 380,415 | ||||||||||
3.38%, 04/15/29(d) |
676 | 610,461 | ||||||||||
2.88%, 02/15/31 |
235 | 198,636 | ||||||||||
3.50%, 04/15/31(d) |
990 | 873,574 | ||||||||||
5.05%, 07/15/33(d) |
2,000 | 1,963,797 | ||||||||||
Vmed O2 U.K. Financing I PLC, 4.75%, 07/15/31(b) |
934 | 776,620 | ||||||||||
|
|
|||||||||||
15,996,463 | ||||||||||||
|
|
|||||||||||
Total Corporate Bonds — 114.3% (Cost: $1,260,986,714) |
|
1,198,833,603 | ||||||||||
|
|
|||||||||||
Floating Rate Loan Interests(a) |
| |||||||||||
Aerospace & Defense — 0.2% | ||||||||||||
Atlas CC Acquisition Corp. |
||||||||||||
Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.78%, 05/25/28 |
354 | 306,844 | ||||||||||
Term Loan C, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.78%, 05/25/28 |
47 | 40,654 | ||||||||||
Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-mo. LIBOR US at 0.50% Floor + 3.50%), 8.56%, 08/03/29 |
99 | 97,298 | ||||||||||
Dynasty Acquisition Co., Inc. |
||||||||||||
2020 CAD Term Loan B2, (1-mo. CME Term SOFR + 3.50%), 8.70%, 04/06/26 |
69 | 68,404 | ||||||||||
2020 Term Loan B1, (1-mo. CME Term SOFR + 3.50%), 8.70%, 04/06/26 |
129 | 127,244 | ||||||||||
Peraton Corp. |
||||||||||||
2nd Lien Term Loan B1, (3-mo. CME Term SOFR at 0.75% Floor + 7.75%), 12.98%, 02/01/29 |
113 | 109,250 |
Security | Par (000) |
Value | ||||||||||
Aerospace & Defense (continued) | ||||||||||||
Peraton Corp. (continued) |
||||||||||||
Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.95%, 02/01/28 |
USD | 602 | $ | 590,584 | ||||||||
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3-mo. LIBOR US + 2.00%), 7.54%, 11/05/28 |
150 | 149,839 | ||||||||||
TransDigm, Inc., 2023 Term Loan I, (3-mo. CME Term SOFR + 3.25%), 8.49%, 08/24/28 |
314 | 313,798 | ||||||||||
|
|
|||||||||||
1,803,915 | ||||||||||||
Automobile Components — 0.0% | ||||||||||||
Clarios Global LP, 2023 Incremental Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.85%, 05/06/30 |
298 | 296,975 | ||||||||||
|
|
|||||||||||
Automobiles — 0.0% | ||||||||||||
Dealer Tire Financial LLC, Term Loan B2, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.60%, 12/14/27 |
222 | 221,051 | ||||||||||
|
|
|||||||||||
Beverages — 0.1% | ||||||||||||
Naked Juice LLC |
||||||||||||
2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.34%, 01/24/30 |
213 | 167,739 | ||||||||||
Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.59%, 01/24/29 |
536 | 497,288 | ||||||||||
|
|
|||||||||||
665,027 | ||||||||||||
Broadline Retail — 0.1% | ||||||||||||
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.61%, 11/24/28 |
179 | 178,346 | ||||||||||
Midas Intermediate Holdco II LLC, 2022 PIK Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.85%, 1.50% PIK), 5.96%, 06/30/27(g) |
307 | 267,546 | ||||||||||
PUG LLC, USD Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.72%, 02/12/27 |
459 | 406,688 | ||||||||||
Sally Holdings LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.60%, 02/28/30(c) |
73 | 72,726 | ||||||||||
|
|
|||||||||||
925,306 | ||||||||||||
Building Products — 0.1% | ||||||||||||
AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.41%, 05/13/29 |
28 | 27,729 | ||||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 11/23/27 |
197 | 184,892 | ||||||||||
CPG International LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.70%, 04/28/29 |
88 | 87,854 | ||||||||||
Jeld-Wen, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.47%, 07/28/28 |
98 | 97,816 | ||||||||||
Wilsonart LLC, 2021 Term Loan E, (6-mo. LIBOR US at 1.00% Floor + 3.50%), 8.71%, 12/31/26 |
340 | 334,106 | ||||||||||
|
|
|||||||||||
732,397 | ||||||||||||
Capital Markets — 0.2% | ||||||||||||
Advisor Group, Inc., 2021 Term Loan, (1-mo. LIBOR US + 4.50%), 9.69%, 07/31/26 |
368 | 368,316 |
S C H E D U L E O F I N V E S T M E N T S |
93 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Capital Markets (continued) | ||||||||||||
Ascensus Holdings, Inc. |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 6.50%), 11.69%, 08/02/29 |
USD | 61 | $ | 54,728 | ||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 08/02/28 |
451 | 442,970 | ||||||||||
Axalta Coating Systems U.S. Holdings, Inc., 2022 USD Term Loan B4, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.24%, 12/20/29 |
132 | 132,082 | ||||||||||
Azalea Topco, Inc., Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.72%, 07/24/26 |
265 | 256,745 | ||||||||||
Castlelake Aviation Ltd., Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 2.75%), 8.30%, 10/22/26 |
187 | 186,078 | ||||||||||
Castlelake Aviation One DAC, 2023 Incremental Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.00%, 10/22/27 |
81 | 80,125 | ||||||||||
Focus Financial Partners LLC |
||||||||||||
2021 Term Loan B4, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.60%, 06/30/28 |
183 | 180,716 | ||||||||||
2023 Term Loan B6, 06/30/28(m) |
97 | 96,297 | ||||||||||
ION Trading Finance Ltd., 2021 USD Term Loan, (3-mo. LIBOR US + 4.75%), 10.09%, 04/03/28 |
74 | 72,313 | ||||||||||
|
|
|||||||||||
1,870,370 | ||||||||||||
Chemicals — 0.2% | ||||||||||||
Arc Falcon I, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 09/30/28 |
215 | 200,316 | ||||||||||
Aruba Investments Holdings LLC, 2020 USD Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.20%, 11/24/27 |
74 | 71,163 | ||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 9.99%, 08/27/26 |
257 | 251,409 | ||||||||||
Discovery Purchaser Corp., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.38%), 9.62%, 10/04/29 |
116 | 111,081 | ||||||||||
Element Solutions, Inc., 2019 Term Loan B1, (1-mo. CME Term SOFR + 2.00%), 7.10%, 01/31/26 |
110 | 110,178 | ||||||||||
HB Fuller Co., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.60%, 02/15/30 |
37 | 37,006 | ||||||||||
INEOS U.S. Finance LLC, 2023 USD Term Loan B, (3-mo. CME Term SOFR + 3.50%), 8.70%, 02/18/30 |
72 | 71,524 | ||||||||||
Lonza Group AG, USD Term Loan B, (3-mo. CME Term SOFR + 3.93%), 9.27%, 07/03/28 |
18 | 14,944 | ||||||||||
LSF11 A5 Holdco LLC, Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 10/15/28 |
216 | 212,668 | ||||||||||
Messer Industries GmbH, 2018 USD Term Loan, (3-mo. CME Term SOFR + 2.50%), 8.00%, 03/02/26 |
161 | 160,116 | ||||||||||
Momentive Performance Materials USA LLC, 2023 Term Loan, (1-mo. CME Term SOFR + 4.50%), 9.60%, 03/29/28 |
236 | 230,103 | ||||||||||
Nouryon USA LLC, 2023 USD Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.32%, 04/03/28 |
89 | 88,026 | ||||||||||
Olympus Water U.S. Holding Corp., 2023 Incremental Term Loan, 11/09/28(m) |
84 | 81,042 | ||||||||||
OQ Chemicals Corp., 2017 USD Term Loan B2, (1-mo. CME Term SOFR + 3.60%), 8.74%, 10/14/24 |
223 | 218,501 | ||||||||||
PQ Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.65%, 06/09/28 |
185 | 184,153 |
Security | Par (000) |
Value | ||||||||||
Chemicals (continued) | ||||||||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (1-mo. LIBOR US at 0.75% Floor + 4.00%), 9.19%, 03/16/27 |
USD | 75 | $ | 73,420 | ||||||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.54%, 08/02/28 |
219 | 217,138 | ||||||||||
W.R. Grace Holdings LLC, 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.75%), 9.31%, 09/22/28 |
109 | 108,546 | ||||||||||
|
|
|||||||||||
2,441,334 | ||||||||||||
Commercial Services & Supplies — 0.3% | ||||||||||||
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 05/12/28 |
381 | 370,034 | ||||||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.15%, 02/15/29(c) |
53 | 52,124 | ||||||||||
Aramark Services, Inc. |
||||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.72%, 04/06/28 |
113 | 112,718 | ||||||||||
2023 Term Loan B6, 06/22/30(c)(m) |
88 | 87,888 | ||||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 6.95%, 09/07/27 |
297 | 295,971 | ||||||||||
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1-mo. LIBOR US + 2.00%), 7.19%, 10/08/28 |
112 | 111,686 | ||||||||||
Covanta Holding Corp. |
||||||||||||
2021 Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.60%, 11/30/28 |
6 | 6,210 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.60%, 11/30/28 |
83 | 81,868 | ||||||||||
GFL Environmental, Inc., 2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.15%, 05/28/27 |
80 | 79,798 | ||||||||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.10%), 10.20%, 10/29/28 |
146 | 144,578 | ||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (3‑mo. LIBOR US at 0.50% Floor + 4.25%), 9.52%, 12/15/28 |
131 | 107,223 | ||||||||||
Prime Security Services Borrower LLC, 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 2.75%), 7.94%, 09/23/26 |
178 | 177,418 | ||||||||||
Tempo Acquisition LLC, 2022 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.10%, 08/31/28 |
585 | 584,866 | ||||||||||
TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.20%, 11/02/27 |
237 | 217,448 | ||||||||||
Viad Corp., Initial Term Loan, (1-mo. CME Term SOFR + 5.00%), 10.22%, 07/30/28 |
148 | 143,312 | ||||||||||
|
|
|||||||||||
2,573,142 | ||||||||||||
Communications Equipment — 0.0% | ||||||||||||
Ciena Corp., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.59%, 01/18/30 |
27 | 26,933 | ||||||||||
ViaSat, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.60%, 03/02/29 |
115 | 110,946 | ||||||||||
|
|
|||||||||||
137,879 |
94 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Construction & Engineering — 0.0% | ||||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (1-mo. LIBOR US at 1.00% Floor + 4.25%), 9.42%, 06/21/24 |
USD | 152 | $ | 149,857 | ||||||||
Pike Corp., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.22%, 01/21/28 |
75 | 74,611 | ||||||||||
USIC Holdings, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.50%), 8.69%, 05/12/28 |
148 | 139,618 | ||||||||||
|
|
|||||||||||
364,086 | ||||||||||||
Construction Materials — 0.1% | ||||||||||||
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1-mo. CME Term SOFR + 2.00%), 7.20%, 01/15/27 |
122 | 121,339 | ||||||||||
New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.10%, 03/08/29 |
97 | 81,363 | ||||||||||
Oscar AcquisitionCo. LLC, Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.84%, 04/29/29 |
122 | 119,127 | ||||||||||
Standard Industries, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.69%, 09/22/28 |
73 | 73,141 | ||||||||||
|
|
|||||||||||
394,970 | ||||||||||||
Consumer Staples Distribution & Retail — 0.0% | ||||||||||||
U.S. Foods, Inc. |
||||||||||||
2019 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.22%, 09/13/26 |
43 | 42,832 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.97%, 11/22/28 |
200 | 200,128 | ||||||||||
|
|
|||||||||||
242,960 | ||||||||||||
Containers & Packaging — 0.1% | ||||||||||||
Charter Next Generation, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.97%, 12/01/27 |
402 | 398,742 | ||||||||||
Mauser Packaging Solutions Holding Co., Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.16%, 08/14/26 |
125 | 124,496 | ||||||||||
Pregis TopCo Corp., 1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.97%, 07/31/26 |
75 | 73,855 | ||||||||||
|
|
|||||||||||
597,093 | ||||||||||||
Distributors — 0.0% | ||||||||||||
PAI Holdco, Inc., 2020 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.75%), 9.02%, 10/28/27 |
163 | 150,608 | ||||||||||
|
|
|||||||||||
Diversified Consumer Services — 0.2% | ||||||||||||
Ascend Learning LLC |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.75%), 10.95%, 12/10/29 |
100 | 84,583 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.70%, 12/11/28 |
148 | 138,419 | ||||||||||
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.47%, 11/24/28 |
189 | 187,593 | ||||||||||
KUEHG Corp., 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.24%, 06/12/30 |
167 | 165,121 | ||||||||||
Sotheby’s, 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 4.50%), 9.76%, 01/15/27 |
368 | 358,554 |
Security | Par (000) |
Value | ||||||||||
Diversified Consumer Services (continued) | ||||||||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3-mo. LIBOR US + 4.00%), 9.54%, 07/30/25 |
USD | 76 | $ | 75,716 | ||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (1-mo. LIBOR US at 1.00% Floor + 5.00%), 10.22%, 09/01/25 |
335 | 271,992 | ||||||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1-mo. LIBOR US + 2.75%), 7.40%, 02/05/26 |
337 | 334,120 | ||||||||||
WCG Intermediate Corp., 2019 Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.00%), 9.22%, 01/08/27 |
154 | 151,009 | ||||||||||
|
|
|||||||||||
1,767,107 | ||||||||||||
Diversified REITs — 0.0% | ||||||||||||
RHP Hotel Properties, LP, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.85%, 05/18/30 |
135 | 134,466 | ||||||||||
|
|
|||||||||||
Diversified Telecommunication Services — 0.3% | ||||||||||||
Altice Financing SA, USD 2017 1st Lien Term Loan, (3-mo. LIBOR US + 2.75%), 8.01%, 01/31/26 |
249 | 244,377 | ||||||||||
Connect Finco SARL, 2021 Term Loan B, (1-mo. LIBOR US + 3.50%), 8.70%, 12/11/26 |
744 | 742,918 | ||||||||||
Iridium Satellite LLC, 2021 Term Loan B2, (1-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.70%, 11/04/26 |
207 | 206,688 | ||||||||||
Level 3 Financing, Inc., 2019 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 6.97%, 03/01/27 |
215 | 199,817 | ||||||||||
Lumen Technologies, Inc., 2020 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.47%, 03/15/27 |
244 | 199,535 | ||||||||||
Orbcomm, Inc., Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 4.25%), 9.58%, 09/01/28 |
148 | 118,196 | ||||||||||
Radiate Holdco LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 09/25/26 |
352 | 292,667 | ||||||||||
Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1-mo. LIBOR US + 3.25%), 8.44%, 01/31/29 |
225 | 223,794 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.22%, 03/09/27 |
584 | 457,485 | ||||||||||
|
|
|||||||||||
2,685,477 | ||||||||||||
Electrical Equipment — 0.0% | ||||||||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.25%, 06/23/28(c) |
221 | 214,564 | ||||||||||
|
|
|||||||||||
Electronic Equipment, Instruments & Components — 0.0% | ||||||||||||
Coherent Corp., 2022 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.97%, 07/02/29 |
114 | 114,152 | ||||||||||
|
|
|||||||||||
Energy Equipment & Services — 0.0% | ||||||||||||
Oryx Midstream Services Permian Basin LLC, 2023 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.54%, 10/05/28 |
365 | 363,678 | ||||||||||
|
|
|||||||||||
Entertainment — 0.3% | ||||||||||||
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1-mo. LIBOR US + 3.00%), 8.22%, 04/22/26 |
162 | 126,457 | ||||||||||
Aristocrat Technologies, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.59%, 05/24/29 |
11 | 11,529 | ||||||||||
Cirque Du Soleil Holding USA Newco, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.49%, 03/08/30 |
118 | 116,602 |
S C H E D U L E O F I N V E S T M E N T S |
95 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Entertainment (continued) | ||||||||||||
City Football Group Ltd., Term Loan, (3-mo. LIBOR US at 0.50% Floor + 3.00%), 8.27%, 07/21/28 |
USD | 223 | $ | 218,158 | ||||||||
Creative Artists Agency LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.60%, 11/27/28 |
180 | 178,966 | ||||||||||
Delta 2 Lux SARL, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.10%, 01/15/30 |
151 | 150,925 | ||||||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3-mo. LIBOR US at 1.00% Floor + 3.00%), 8.73%, 03/08/24 |
538 | 497,975 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1-mo. CME Term SOFR + 1.75%), 6.93%, 10/17/26 |
452 | 450,540 | ||||||||||
Playtika Holding Corp., 2021 Term Loan, (1-mo. LIBOR US + 2.75%), 7.94%, 03/13/28 |
230 | 229,072 | ||||||||||
SMG U.S. Midco 2, Inc., 2020 Term Loan, (3-mo. LIBOR US + 2.50%), 7.77%, 01/23/25 |
152 | 151,138 | ||||||||||
UFC Holdings LLC, 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 2.75%), 8.05%, 04/29/26 |
146 | 145,836 | ||||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1-mo. LIBOR US + 2.75%), 7.95%, 05/18/25 |
470 | 468,643 | ||||||||||
WMG Acquisition Corp., 2021 Term Loan G, (1-mo. CME Term SOFR + 2.13%), 7.33%, 01/20/28 |
351 | 349,747 | ||||||||||
|
|
|||||||||||
3,095,588 | ||||||||||||
Financial Services — 0.3% | ||||||||||||
ABG Intermediate Holdings 2 LLC, 2021 Term Loan B1, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.70%, 12/21/28 |
90 | 89,257 | ||||||||||
Altice France SA, 2023 USD Term Loan B14, (3-mo. CME Term SOFR + 5.50%), 10.49%, 08/15/28 |
200 | 177,444 | ||||||||||
Belron Finance U.S. LLC, 2018 Term Loan B, (3-mo. LIBOR US + 2.25%), 7.63%, 11/13/25 |
370 | 370,030 | ||||||||||
Belron Luxembourg SARL, 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.83%, 04/18/29 |
54 | 53,967 | ||||||||||
Deerfield Dakota Holding LLC |
||||||||||||
2020 USD Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.75%), 8.99%, 04/09/27 |
753 | 729,824 | ||||||||||
2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 6.75%), 12.29%, 04/07/28 |
190 | 175,988 | ||||||||||
LBM Acquisition LLC, Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.94%, 12/17/27 |
96 | 92,384 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.45%, 03/24/25 |
257 | 255,447 | ||||||||||
Sotera Health Holdings LLC, 2021 Term Loan, (3-mo. LIBOR US at 0.50% Floor + 2.75%), 8.02%, 12/11/26 |
267 | 262,386 | ||||||||||
Travelport Finance SARL, 2023 Consented Term Loan, 05/29/26(c)(m) |
144 | 87,317 | ||||||||||
UPC Financing Partnership, 2021 USD Term Loan AX, (1-mo. LIBOR US + 2.93%), 8.12%, 01/31/29 |
45 | 44,076 | ||||||||||
WEX, Inc., 2021 Term Loan, (1-mo. CME Term SOFR + 2.25%), 7.47%, 03/31/28 |
123 | 122,899 | ||||||||||
White Cap Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.75%), 8.85%, 10/19/27 |
193 | 190,925 | ||||||||||
|
|
|||||||||||
2,651,944 |
Security | Par (000) |
Value | ||||||||||
Food Products — 0.2% | ||||||||||||
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.97%, 10/01/25 |
USD | 162 | $ | 148,462 | ||||||||
B&G Foods, Inc., 2019 Term Loan B4, (1-mo. LIBOR US + 2.50%), 7.65%, 10/10/26 |
92 | 89,756 | ||||||||||
Chobani LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.72%, 10/25/27 |
588 | 584,010 | ||||||||||
Froneri International Ltd., 2020 USD Term Loan, (3-mo. CME Term SOFR + 2.25%), 7.45%, 01/29/27 |
563 | 559,487 | ||||||||||
H-Food Holdings LLC, 2018 Term Loan B, (6-mo. LIBOR US + 3.69%), 9.27%, 05/23/25 |
55 | 47,972 | ||||||||||
Hostess Brands LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.75%, 06/21/30 |
185 | 185,214 | ||||||||||
Nomad Foods U.S. LLC, 2022 Term Loan B, (6-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.56%, 11/12/29 |
75 | 74,906 | ||||||||||
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3-mo. LIBOR US at 0.75% Floor + 3.50%), 8.77%, 06/08/28 |
261 | 257,748 | ||||||||||
Triton Water Holdings, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor), 5.24%, 03/31/28 |
273 | 262,985 | ||||||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.22%, 01/20/28 |
259 | 258,742 | ||||||||||
|
|
|||||||||||
2,469,282 | ||||||||||||
Ground Transportation — 0.1% | ||||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 4.75%), 9.93%, 04/06/28 |
98 | 95,197 | ||||||||||
Avis Budget Car Rental LLC, 2020 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 6.97%, 08/06/27 |
71 | 69,763 | ||||||||||
Genesee & Wyoming, Inc., Term Loan, (3-mo. CME Term SOFR + 2.00%), 7.34%, 12/30/26 |
186 | 185,312 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 5.50%), 10.76%, 08/04/25 |
78 | 69,967 | ||||||||||
Uber Technologies, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.01%, 03/03/30 |
198 | 198,344 | ||||||||||
|
|
|||||||||||
618,583 | ||||||||||||
Health Care Equipment & Supplies — 0.1% | ||||||||||||
Chariot Buyer LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 11/03/28 |
371 | 362,711 | ||||||||||
Femur Buyer, Inc., 1st Lien Term Loan, (3-mo. LIBOR US + 4.50%), 10.00%, 03/05/26 |
107 | 97,647 | ||||||||||
Insulet Corp., Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.47%, 05/04/28 |
110 | 110,174 | ||||||||||
Medline Borrower LP, USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.47%, 10/23/28 |
759 | 749,440 | ||||||||||
|
|
|||||||||||
1,319,972 | ||||||||||||
Health Care Providers & Services — 0.1% | ||||||||||||
CHG Healthcare Services, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.44%, 09/29/28 |
184 | 183,129 | ||||||||||
CNT Holdings I Corp., 2020 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.46%, 11/08/27 |
197 | 196,091 |
96 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Health Care Providers & Services (continued) | ||||||||||||
Electron BidCo, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.22%, 11/01/28 |
USD | 297 | $ | 295,626 | ||||||||
Envision Healthcare Corp. |
||||||||||||
2022 First Out Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 7.88%), 13.27%, 03/31/27 |
— | (n) | 86 | |||||||||
2022 Second Out Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 4.25%), 9.49%, 03/31/27 |
159 | 11,681 | ||||||||||
EyeCare Partners LLC, 2020 Term Loan, (3-mo. CME Term SOFR + 3.75%), 9.25%, 02/18/27 |
198 | 145,047 | ||||||||||
MED ParentCo LP, 1st Lien Term Loan, (1-mo. LIBOR US + 4.25%), 9.47%, 08/31/26 |
182 | 168,828 | ||||||||||
Option Care Health, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.94%, 10/27/28 |
109 | 108,416 | ||||||||||
Reverb Buyer, Inc., 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.61%, 11/01/28 |
152 | 142,729 | ||||||||||
Surgery Center Holdings, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.75%), 8.90%, 08/31/26 |
68 | 67,479 | ||||||||||
Vizient, Inc., 2022 Term Loan B7, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.44%, 05/16/29 |
32 | 31,632 | ||||||||||
|
|
|||||||||||
1,350,744 | ||||||||||||
Health Care Technology — 0.1% | ||||||||||||
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.59%, 02/15/29 |
399 | 384,019 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 4.00%), 9.54%, 06/02/28 |
529 | 485,545 | ||||||||||
Verscend Holding Corp., 2021 Term Loan B, (1-mo. LIBOR US + 4.00%), 9.22%, 08/27/25 |
331 | 330,423 | ||||||||||
|
|
|||||||||||
1,199,987 | ||||||||||||
Hotels, Restaurants & Leisure — 0.4% | ||||||||||||
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1-mo. LIBOR US + 3.75%), 8.94%, 02/02/26 |
211 | 204,359 | ||||||||||
Alterra Mountain Co., 2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 8.95%, 05/31/30(c) |
19 | 18,953 | ||||||||||
Bally’s Corp., 2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.40%, 10/02/28 |
74 | 72,103 | ||||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc., Term Loan B4, (1-mo. LIBOR US + 1.75%), 6.94%, 11/19/26 |
337 | 334,478 | ||||||||||
Caesars Entertainment, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 02/06/30 |
140 | 139,523 | ||||||||||
Carnival Corp., USD Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.22%, 06/30/25 |
255 | 254,212 | ||||||||||
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1-mo. CME Term SOFR + 2.00%), 7.20%, 03/17/28 |
184 | 181,858 | ||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.10%, 01/27/29 |
591 | 582,488 |
Security | Par (000) |
Value | ||||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||||||
Flutter Financing BV, 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.75%, 07/22/28 |
USD | 154 | $ | 153,942 | ||||||||
Four Seasons Hotels Ltd., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 11/30/29 |
302 | 302,591 | ||||||||||
Hilton Worldwide Finance LLC, 2019 Term Loan B2, (1-mo. CME Term SOFR + 1.75%), 6.94%, 06/22/26 |
261 | 260,914 | ||||||||||
IRB Holding Corp., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.20%, 12/15/27 |
543 | 538,842 | ||||||||||
Packers Holdings LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.44%, 03/09/28 |
126 | 86,983 | ||||||||||
Penn Entertainment, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.95%, 05/03/29 |
152 | 151,479 | ||||||||||
Playa Resorts Holding BV, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.34%, 01/05/29 |
57 | 56,508 | ||||||||||
Scientific Games International, Inc., 2022 USD Term Loan, (1‑mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.25%, 04/14/29 |
87 | 86,888 | ||||||||||
SeaWorld Parks & Entertainment, Inc., 2021 Term Loan B, (1‑mo. LIBOR US at 0.50% Floor + 3.00%), 8.25%, 08/25/28 |
69 | 69,363 | ||||||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3-mo. CME Term SOFR + 2.25%), 7.75%, 07/21/26 |
148 | 148,167 | ||||||||||
Station Casinos LLC, 2020 Term Loan B, (1-mo. LIBOR US at 0.25% Floor + 2.25%), 7.45%, 02/08/27 |
298 | 296,582 | ||||||||||
Whatabrands LLC, 2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.47%, 08/03/28 |
309 | 306,458 | ||||||||||
Wyndham Hotels & Resorts, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.45%, 05/24/30 |
19 | 18,941 | ||||||||||
|
|
|||||||||||
4,265,632 | ||||||||||||
Household Durables — 0.1% | ||||||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.75%, 05/17/28 |
171 | 143,026 | ||||||||||
Hunter Douglas, Inc., USD Term Loan B1, (3-mo. CME Term SOFR + 3.50%), 8.67%, 02/26/29 |
329 | 311,135 | ||||||||||
Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.22%, 10/06/28 |
110 | 88,543 | ||||||||||
Weber-Stephen Products LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 10/30/27 |
350 | 306,762 | ||||||||||
|
|
|||||||||||
849,466 | ||||||||||||
Household Products — 0.0% | ||||||||||||
Diamond BC BV, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.06%, 09/29/28 |
338 | 337,279 |
S C H E D U L E O F I N V E S T M E N T S |
97 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Independent Power and Renewable Electricity Producers — 0.0% | ||||||||||||
Constellation Renewables LLC, 2020 Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 2.50%), 8.03%, 12/15/27 |
USD | 233 | $ | 231,455 | ||||||||
|
|
|||||||||||
Insurance — 0.2% | ||||||||||||
Alliant Holdings Intermediate LLC |
||||||||||||
2021 Term Loan B4, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.65%, 11/06/27 |
118 | 117,393 | ||||||||||
2023 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.65%, 11/05/27 |
524 | 519,949 | ||||||||||
AmWINS Group, Inc. |
||||||||||||
2021 Term Loan B, (1-mo. LIBOR US at 0.75% Floor + 2.25%), 7.44%, 02/19/28 |
173 | 171,581 | ||||||||||
2023 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 2.75%), 7.83%, 02/19/28 |
55 | 54,531 | ||||||||||
AssuredPartners, Inc., 2020 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.72%, 02/12/27 |
260 | 257,575 | ||||||||||
HUB International Ltd. |
||||||||||||
2022 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.07%, 11/10/29 |
74 | 74,510 | ||||||||||
2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.34%, 06/20/30 |
466 | 466,516 | ||||||||||
Ryan Specialty Group LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.20%, 09/01/27 |
161 | 160,363 | ||||||||||
USI, Inc., 2022 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.99%, 11/22/29 |
325 | 324,644 | ||||||||||
|
|
|||||||||||
2,147,062 | ||||||||||||
Interactive Media & Services — 0.1% | ||||||||||||
Acuris Finance U.S., Inc., 2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.39%, 02/16/28 |
50 | 49,304 | ||||||||||
Adevinta ASA, USD Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 2.75%), 8.29%, 06/26/28 |
139 | 138,707 | ||||||||||
Camelot Finance SA, Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.22%, 10/30/26 |
250 | 249,282 | ||||||||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.00%), 8.22%, 10/30/26 |
281 | 280,940 | ||||||||||
GoodRx, Inc., 1st Lien Term Loan, (1-mo. LIBOR US + 2.75%), 7.94%, 10/10/25 |
76 | 75,827 | ||||||||||
Grab Holdings, Inc., Term Loan B, (1-mo. LIBOR US at 1.00% Floor + 4.50%), 9.70%, 01/29/26 |
120 | 119,711 | ||||||||||
|
|
|||||||||||
913,771 | ||||||||||||
IT Services — 0.2% | ||||||||||||
Asurion LLC |
||||||||||||
2020 Term Loan B8, (3-mo. LIBOR US + 3.25%), 8.79%, 12/23/26 |
283 | 272,183 | ||||||||||
2021 2nd Lien Term Loan B3, (1-mo. CME Term SOFR + 5.25%), 10.51%, 01/31/28 |
255 | 216,273 | ||||||||||
2023 Term Loan B11, (1-mo. CME Term SOFR + 4.25%), 9.45%, 08/19/28 |
23 | 21,781 | ||||||||||
Epicor Software Corp., 2020 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 07/30/27 |
111 | 109,407 |
Security | Par (000) |
Value | ||||||||||
IT Services (continued) | ||||||||||||
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.34%, 10/01/27 |
USD | 366 | $ | 360,321 | ||||||||
Go Daddy Operating Co. LLC |
||||||||||||
2021 Term Loan B4, (1-mo. LIBOR US + 2.00%), 7.19%, 08/10/27 |
124 | 123,842 | ||||||||||
2022 Term Loan B5, (1-mo. CME Term SOFR + 3.00%), 8.10%, 11/09/29 |
161 | 161,407 | ||||||||||
Sedgwick Claims Management Services, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 8.85%, 02/17/28 |
382 | 379,052 | ||||||||||
|
|
|||||||||||
|
1,644,266 |
| ||||||||||
Leisure Products — 0.0% | ||||||||||||
Fender Musical Instruments Corp., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.19%, 12/01/28(c) |
99 | 94,131 | ||||||||||
Peloton Interactive, Inc., Term Loan, (6-mo. CME Term SOFR at 0.50% Floor + 6.50%), 12.26%, 05/25/27 |
40 | 40,387 | ||||||||||
Topgolf Callaway Brands Corp., Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.70%, 03/15/30 |
130 | 129,459 | ||||||||||
|
|
|||||||||||
263,977 | ||||||||||||
Life Sciences Tools & Services — 0.2% | ||||||||||||
Avantor Funding, Inc., 2021 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.45%, 11/08/27 |
229 | 228,417 | ||||||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1-mo. LIBOR US at 0.50% Floor + 2.00%), 7.19%, 02/22/28 |
188 | 183,217 | ||||||||||
Curia Global, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.90%, 08/30/26 |
23 | 19,784 | ||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.50%), 9.72%, 02/04/27 |
156 | 149,493 | ||||||||||
Fortrea Holdings, Inc., Term Loan B, 06/12/30(m) |
51 | 50,975 | ||||||||||
ICON Luxembourg SARL, LUX Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.75%, 07/03/28 |
229 | 229,375 | ||||||||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.03%, 10/19/27 |
239 | 238,344 | ||||||||||
Parexel International Corp., 2021 1st Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.35%, 11/15/28 |
368 | 364,892 | ||||||||||
PRA Health Sciences, Inc., US Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.75%, 07/03/28 |
57 | 57,149 | ||||||||||
|
|
|||||||||||
1,521,646 | ||||||||||||
Machinery — 0.3% | ||||||||||||
Albion Financing 3 SARL, USD Term Loan, (3-mo. LIBOR US at 0.50% Floor + 5.25%), 10.52%, 08/17/26(c) |
222 | 219,963 | ||||||||||
Clark Equipment Co., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.84%, 04/20/29 |
42 | 41,449 | ||||||||||
Columbus McKinnon Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.23%, 05/14/28 |
66 | 66,176 |
98 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Machinery (continued) |
| |||||||||||
Filtration Group Corp., 2023 USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.33%, 10/21/28 |
USD | 297 | $ | 296,681 | ||||||||
Gardner Denver, Inc., 2020 USD Term Loan B2, (1-mo. CME Term SOFR + 1.75%), 6.95%, 03/01/27 |
142 | 141,761 | ||||||||||
Gates Global LLC, 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.70%, 03/31/27 |
300 | 298,376 | ||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1-mo. CME Term SOFR + 1.75%), 6.95%, 03/01/27 |
157 | 156,815 | ||||||||||
Madison IAQ LLC, Term Loan, (6-mo. LIBOR US at 0.50% Floor + 3.25%), 8.30%, 06/21/28 |
452 | 441,778 | ||||||||||
Roper Industrial Products Investment Co., USD Term Loan, (3-mo. CME Term SOFR + 4.50%), 9.74%, 11/22/29 |
259 | 258,053 | ||||||||||
SPX Flow, Inc., 2022 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.70%, 04/05/29 |
230 | 226,574 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (3-mo. LIBOR US + 3.00%), 8.73%, 03/28/25 |
446 | 434,799 | ||||||||||
Vertical U.S. Newco, Inc., Term Loan B, (6-mo. LIBOR US at 0.50% Floor + 3.50%), 8.60%, 07/30/27 |
327 | 324,629 | ||||||||||
Vertiv Group Corp., 2021 Term Loan B, (1-mo. LIBOR US + 2.75%), 7.94%, 03/02/27 |
302 | 300,460 | ||||||||||
Zurn LLC, 2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 2.00%), 7.19%, 10/04/28 |
109 | 108,622 | ||||||||||
|
|
|||||||||||
3,316,136 | ||||||||||||
Media — 0.2% | ||||||||||||
AVSC Holding Corp., 2020 Term Loan B1, (1‑mo. LIBOR US at 1.00% Floor + 3.25%, 0.25% PIK), 8.68%, 03/03/25(g) |
184 | 179,200 | ||||||||||
Charter Communications Operating LLC, Class A, 2019 Term Loan B1, (3-mo. CME Term SOFR + 1.75%), 6.80%, 04/30/25 |
123 | 122,907 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3-mo. LIBOR US + 3.50%), 8.81%, 08/21/26 |
390 | 371,914 | ||||||||||
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.72%, 09/01/28 |
166 | 164,302 | ||||||||||
CSC Holdings LLC |
||||||||||||
2017 Term Loan B1, (1-mo. LIBOR US + 2.25%), 7.44%, 07/17/25 |
115 | 110,315 | ||||||||||
2019 Term Loan B5, (1-mo. LIBOR US + 2.50%), 7.69%, 04/15/27 |
315 | 274,335 | ||||||||||
DirecTV Financing LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.22%, 08/02/27 |
336 | 328,737 | ||||||||||
Learfield Communications LLC, 2016 1st Lien Term Loan, (3-mo. LIBOR US at 1.00% Floor + 3.25%), 8.77%, 12/01/23 |
91 | 70,477 | ||||||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (1-mo. CME Term SOFR + 3.75%), 8.95%, 04/21/29(c) |
199 | 149,740 |
Security | Par (000) |
Value | ||||||||||
Media (continued) |
| |||||||||||
Voyage Digital Ltd., USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.36%, 05/11/29(c) |
USD | 106 | $ | 105,400 | ||||||||
Ziggo Financing Partnership, USD Term Loan I, (1-mo. LIBOR US + 2.50%), 7.69%, 04/30/28 |
126 | 123,930 | ||||||||||
|
|
|||||||||||
2,001,257 | ||||||||||||
Oil, Gas & Consumable Fuels — 0.1% | ||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 8.75%, 12/21/28 |
441 | 431,228 | ||||||||||
M6 ETX Holdings II Midco LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.68%, 09/19/29 |
26 | 25,563 | ||||||||||
Medallion Midland Acquisition LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.25%, 10/18/28 |
221 | 219,147 | ||||||||||
|
|
|||||||||||
675,938 | ||||||||||||
Passenger Airlines — 0.2% | ||||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.00%, 04/20/28 |
436 | 444,558 | ||||||||||
Air Canada, 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.50%), 8.84%, 08/11/28 |
370 | 369,731 | ||||||||||
American Airlines, Inc. |
||||||||||||
2017 1st Lien Term Loan, (6-mo. LIBOR US + 3.50%), 7.00%, 01/29/27 |
302 | 294,041 | ||||||||||
2023 Term Loan B, (6-mo. CME Term SOFR + 2.75%), 8.15%, 02/15/28 |
280 | 274,593 | ||||||||||
Kestrel Bidco, Inc., Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.00%), 8.25%, 12/11/26 |
108 | 103,960 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3-mo. LIBOR US at 1.00% Floor + 5.25%), 10.76%, 06/21/27 |
299 | 310,464 | ||||||||||
United Airlines, Inc., 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.75%), 9.29%, 04/21/28 |
351 | 350,501 | ||||||||||
|
|
|||||||||||
2,147,848 | ||||||||||||
Personal Care Products — 0.1% | ||||||||||||
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.09%, 10/01/26 |
771 | 766,322 | ||||||||||
|
|
|||||||||||
Pharmaceuticals — 0.1% | ||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.72%, 05/04/25 |
124 | 119,276 | ||||||||||
Amynta Agency Borrower, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 5.00%), 10.20%, 02/28/28 |
99 | 96,092 | ||||||||||
Bausch Health Cos., Inc., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.43%, 02/01/27 |
143 | 107,479 | ||||||||||
Elanco Animal Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.01%, 08/01/27 |
298 | 292,019 | ||||||||||
Jazz Financing Lux SARL, USD Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.69%, 05/05/28 |
265 | 264,984 |
S C H E D U L E O F I N V E S T M E N T S |
99 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Pharmaceuticals (continued) |
| |||||||||||
Organon & Co., USD Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.00%), 8.25%, 06/02/28 |
USD | 197 | $ | 196,588 | ||||||||
Precision Medicine Group LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.34%, 11/18/27(c) |
153 | 146,443 | ||||||||||
|
|
|||||||||||
1,222,881 | ||||||||||||
Professional Services — 0.3% | ||||||||||||
AlixPartners LLP, 2021 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.72%, 02/04/28 |
185 | 184,603 | ||||||||||
CoreLogic, Inc. |
||||||||||||
2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 6.50%), 11.75%, 06/04/29 |
100 | 80,250 | ||||||||||
Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.75%, 06/02/28 |
476 | 429,453 | ||||||||||
Dun & Bradstreet Corp. |
||||||||||||
2022 Incremental Term Loan B2, (1-mo. CME Term SOFR + 3.25%), 8.33%, 01/18/29 |
75 | 74,156 | ||||||||||
Term Loan, (1-mo. CME Term SOFR + 3.25%), 8.43%, 02/06/26 |
480 | 480,027 | ||||||||||
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%), 9.59%, 07/06/29 |
76 | 74,623 | ||||||||||
2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.59%, 07/06/29 |
165 | 161,682 | ||||||||||
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1-mo. CME Term SOFR + 1.75%), 6.95%, 04/28/28 |
224 | 221,625 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 9.85%, 04/29/29(c) |
268 | 251,227 | ||||||||||
Trans Union LLC |
||||||||||||
2019 Term Loan B5, (1-mo. CME Term SOFR + 1.75%), 6.95%, 11/16/26 |
111 | 110,952 | ||||||||||
2021 Term Loan B6, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.47%, 12/01/28 |
385 | 383,307 | ||||||||||
VS Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.52%, 02/28/27 |
259 | 254,992 | ||||||||||
|
|
|||||||||||
2,706,897 | ||||||||||||
Real Estate Management & Development — 0.0% | ||||||||||||
Cushman & Wakefield U.S. Borrower LLC |
||||||||||||
2020 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.97%, 08/21/25 |
95 | 94,002 | ||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 01/31/30(c) |
238 | 230,156 | ||||||||||
|
|
|||||||||||
324,158 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.0% | ||||||||||||
MKS Instruments, Inc., 2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.94%, 08/17/29 |
179 | 178,812 | ||||||||||
Synaptics, Inc., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.74%, 12/02/28 |
110 | 108,716 | ||||||||||
|
|
|||||||||||
287,528 |
Security | Par (000) |
Value | ||||||||||
Software — 0.6% |
| |||||||||||
Applied Systems, Inc., 2022 Extended 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.74%, 09/18/26 |
USD | 74 | $ | 74,345 | ||||||||
Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.55%, 08/15/29 |
83 | 79,550 | ||||||||||
Boxer Parent Co., Inc., 2021 USD Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.97%, 10/02/25 |
222 | 220,069 | ||||||||||
CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.33%, 09/21/28 |
185 | 184,486 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.49%, 07/06/29 |
297 | 295,484 | ||||||||||
Cloud Software Group, Inc., 2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.84%, 03/30/29 |
667 | 623,117 | ||||||||||
Cloudera, Inc. |
||||||||||||
2021 Second Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.08%, 10/08/29(c) |
113 | 101,700 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 10/08/28 |
89 | 86,960 | ||||||||||
Cornerstone OnDemand, Inc., 2021 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.25%, 10/16/28 |
185 | 171,852 | ||||||||||
Delta TopCo, Inc. |
||||||||||||
2020 2nd Lien Term Loan, (6-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.57%, 12/01/28 |
45 | 40,913 | ||||||||||
2020 Term Loan B, (6-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.07%, 12/01/27 |
— | (n) | 2 | |||||||||
Genesys Cloud Services Holdings II LLC, 2020 USD Term Loan B4, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.19%, 12/01/27 |
383 | 381,136 | ||||||||||
Informatica LLC, 2021 USD Term Loan B, (1-mo. LIBOR US + 2.75%), 8.00%, 10/27/28 |
422 | 420,407 | ||||||||||
Instructure Holdings, Inc., 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 2.75%), 7.85%, 10/30/28 |
99 | 98,689 | ||||||||||
Magenta Buyer LLC |
||||||||||||
2021 USD 1st Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.03%, 07/27/28 |
250 | 187,733 | ||||||||||
2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 8.25%), 13.53%, 07/27/29 |
193 | 124,762 | ||||||||||
McAfee Corp., 2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.01%, 03/01/29 |
372 | 355,333 | ||||||||||
MH Sub I LLC |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 6.25%), 11.35%, 02/23/29 |
247 | 213,832 | ||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.35%, 05/03/28 |
812 | 778,235 | ||||||||||
NortonLifeLock, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.20%, 09/12/29 |
185 | 183,480 | ||||||||||
Proofpoint, Inc., 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.47%, 08/31/28 |
445 | 435,202 |
100 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Software (continued) |
| |||||||||||
RealPage, Inc., 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.22%, 04/24/28 |
USD | 809 | $ | 790,518 | ||||||||
Severin Acquisition LLC, 2018 Term Loan B, (3‑mo. CME Term SOFR + 3.00%), 8.05%, 08/01/25 |
148 | 147,884 | ||||||||||
Sophia LP, 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 9.04%, 10/07/27 |
290 | 286,303 | ||||||||||
UKG, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.27%, 05/03/27 |
112 | 108,744 | ||||||||||
Ultimate Software Group, Inc., 2021 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.27%, 05/04/26 |
280 | 274,730 | ||||||||||
|
|
|||||||||||
6,665,466 | ||||||||||||
Specialty Retail — 0.1% | ||||||||||||
EG Group Ltd., 2021 Term Loan, (1-mo. CME Term SOFR + 4.25%), 9.41%, 03/31/26 |
320 | 317,947 | ||||||||||
Mavis Tire Express Services Corp., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.22%, 05/04/28 |
312 | 308,632 | ||||||||||
PetSmart, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.95%, 02/11/28 |
398 | 396,383 | ||||||||||
Pilot Travel Centers LLC, 2021 Term Loan B, (1‑mo. CME Term SOFR + 2.00%), 7.20%, 08/04/28 |
177 | 176,742 | ||||||||||
Restoration Hardware, Inc. |
||||||||||||
2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 10/20/28 |
89 | 86,087 | ||||||||||
Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.69%, 10/20/28 |
91 | 87,711 | ||||||||||
RVR Dealership Holdings LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.97%, 02/08/28 |
22 | 20,312 | ||||||||||
|
|
|||||||||||
1,393,814 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.0% | ||||||||||||
Electronics for Imaging, Inc., Term Loan, (1-mo. LIBOR US + 5.00%), 10.21%, 07/23/26 |
66 | 44,725 | ||||||||||
|
|
|||||||||||
Textiles, Apparel & Luxury Goods — 0.0% | ||||||||||||
Crocs, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.70%, 02/20/29 |
113 | 113,447 | ||||||||||
Hanesbrands, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.85%, 03/08/30(c) |
58 | 57,999 | ||||||||||
|
|
|||||||||||
171,446 | ||||||||||||
Trading Companies & Distributors — 0.1% | ||||||||||||
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1-mo. LIBOR US + 2.25%), 7.44%, 05/19/28 |
185 | 184,472 | ||||||||||
Core & Main LP, 2021 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.61%, 07/27/28 |
556 | 552,150 | ||||||||||
SRS Distribution, Inc. |
||||||||||||
2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.69%, 06/02/28 |
448 | 433,979 |
Security | Par (000) |
Value | ||||||||||
Trading Companies & Distributors (continued) |
| |||||||||||
SRS Distribution, Inc. (continued) |
||||||||||||
2022 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.70%, 06/02/28 |
USD | 67 | $ | 65,500 | ||||||||
TMK Hawk Parent Corp., 2020 Super Priority Second Out Term Loan B, (3-mo. LIBOR US at 1.00% Floor + 3.50%), 9.00%, 08/28/24(c) |
120 | 72,887 | ||||||||||
|
|
|||||||||||
1,308,988 | ||||||||||||
Transportation Infrastructure — 0.0% | ||||||||||||
Apple Bidco LLC, 2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.10%, 09/22/28 |
94 | 93,179 | ||||||||||
KKR Apple Bidco LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.97%, 09/23/28 |
39 | 39,020 | ||||||||||
OLA Netherlands BV, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.25%), 11.43%, 12/15/26 . |
122 | 114,146 | ||||||||||
Rand Parent LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.49%, 03/17/30 |
39 | 36,471 | ||||||||||
|
|
|||||||||||
282,816 | ||||||||||||
Wireless Telecommunication Services — 0.0% | ||||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1-mo. LIBOR US + 3.25%), 8.98%, 05/28/24 |
101 | 92,612 | ||||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.97%, 04/30/28 |
64 | 63,314 | ||||||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1-mo. LIBOR US + 1.75%), 6.95%, 04/11/25 |
186 | 185,978 | ||||||||||
|
|
|||||||||||
341,904 | ||||||||||||
|
|
|||||||||||
Total Floating Rate Loan Interests — 6.4% (Cost: $68,896,288) |
67,235,335 | |||||||||||
|
|
|||||||||||
Foreign Agency Obligations |
||||||||||||
Brazil — 0.5% | ||||||||||||
Brazilian Government International Bond, 5.00%, 01/27/45(d) |
6,525 | 5,085,585 | ||||||||||
|
|
|||||||||||
China — 0.0% | ||||||||||||
China Development Bank/Hong Kong, 2.00%, 02/16/27(e) |
200 | 183,092 | ||||||||||
Export-Import Bank of China, 3.38%, 03/14/27(e) |
200 | 191,514 | ||||||||||
|
|
|||||||||||
374,606 | ||||||||||||
Colombia — 0.3% | ||||||||||||
Colombia Government International Bond, 5.63%, 02/26/44(d) |
4,000 | 2,975,640 | ||||||||||
|
|
|||||||||||
Hong Kong — 0.0% | ||||||||||||
Airport Authority, 3.25%, 01/12/52(d) |
200 | 153,452 | ||||||||||
|
|
|||||||||||
India — 0.0% | ||||||||||||
Export-Import Bank of India, 3.88%, 02/01/28(e) |
200 | 188,068 | ||||||||||
|
|
|||||||||||
Indonesia — 0.6% | ||||||||||||
Indonesia Government International Bond |
||||||||||||
5.88%, 01/15/24(b)(d) |
4,400 | 4,411,704 | ||||||||||
4.65%, 09/20/32 |
250 | 244,978 | ||||||||||
4.85%, 01/11/33 |
200 | 199,438 | ||||||||||
5.25%, 01/17/42(e) |
200 | 199,970 | ||||||||||
4.75%, 07/18/47(e) |
200 | 188,490 | ||||||||||
3.70%, 10/30/49 |
200 | 158,058 |
S C H E D U L E O F I N V E S T M E N T S |
101 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Indonesia (continued) |
| |||||||||||
Indonesia Government International Bond (continued) |
| |||||||||||
3.50%, 02/14/50 |
USD | 200 | $ | 152,362 | ||||||||
Perusahaan Penerbit SBSN Indonesia III(e) |
||||||||||||
1.50%, 06/09/26 |
200 | 181,396 | ||||||||||
4.40%, 06/06/27 |
200 | 196,828 | ||||||||||
|
|
|||||||||||
5,933,224 | ||||||||||||
Mexico — 0.5% | ||||||||||||
Mexico Government International Bond, 4.75%, 03/08/44(d) |
5,800 | 4,971,876 | ||||||||||
|
|
|||||||||||
Pakistan — 0.0% | ||||||||||||
Pakistan Government International Bond(e) |
||||||||||||
6.00%, 04/08/26 |
450 | 216,468 | ||||||||||
7.38%, 04/08/31 |
200 | 90,660 | ||||||||||
|
|
|||||||||||
307,128 | ||||||||||||
Philippines — 0.0% | ||||||||||||
Philippines Government International Bond |
||||||||||||
3.70%, 03/01/41 |
300 | 247,560 | ||||||||||
2.65%, 12/10/45 |
200 | 134,144 | ||||||||||
|
|
|||||||||||
381,704 | ||||||||||||
Qatar — 0.0% | ||||||||||||
Qatar Government International Bond, 5.10%, 04/23/48(e) |
200 | 198,922 | ||||||||||
|
|
|||||||||||
Saudi Arabia — 0.1% | ||||||||||||
Saudi Government International Bond(e) |
||||||||||||
4.00%, 04/17/25 |
200 | 195,412 | ||||||||||
4.75%, 01/18/28 |
250 | 247,450 | ||||||||||
4.50%, 10/26/46 |
200 | 174,820 | ||||||||||
|
|
|||||||||||
617,682 | ||||||||||||
South Korea — 0.2% | ||||||||||||
Export-Import Bank of Korea |
||||||||||||
0.63%, 06/29/24 |
250 | 237,815 | ||||||||||
1.63%, 01/18/27 |
200 | 179,144 | ||||||||||
Korea Development Bank |
||||||||||||
3.75%, 01/22/24 |
200 | 197,660 | ||||||||||
2.00%, 02/24/25 |
200 | 189,186 | ||||||||||
4.38%, 02/15/33 |
200 | 193,938 | ||||||||||
Korea Electric Power Corp., 3.63%, 06/14/25(e) |
300 | 288,754 | ||||||||||
Korea Expressway Corp., 1.13%, 05/17/26(e) |
200 | 177,332 | ||||||||||
|
|
|||||||||||
1,463,829 | ||||||||||||
Uruguay — 0.3% | ||||||||||||
Uruguay Government International Bond, 5.10%, 06/18/50 |
3,500 | 3,493,315 | ||||||||||
|
|
|||||||||||
Total Foreign Agency Obligations — 2.5% (Cost: $29,310,372) |
26,145,031 | |||||||||||
|
|
Security | Shares |
Value | ||||||||||
Investment Companies |
||||||||||||
Fixed Income Funds — 0.1% | ||||||||||||
Invesco Senior Loan ETF(o) |
45,000 | $ | 946,800 | |||||||||
|
|
|||||||||||
Total Investment Companies — 0.1% (Cost: $925,698) |
946,800 | |||||||||||
|
|
|||||||||||
Par (000) |
||||||||||||
Municipal Bonds |
||||||||||||
New York — 1.0% | ||||||||||||
Metropolitan Transportation Authority, RB, BAB, 6.55%, 11/15/31 |
USD | 10,000 | 10,472,880 | |||||||||
|
|
|||||||||||
Total Municipal Bonds — 1.0% (Cost: $9,833,900) |
10,472,880 | |||||||||||
|
|
|||||||||||
Preferred Securities |
||||||||||||
Capital Trusts — 10.1% | ||||||||||||
Automobiles — 0.2% | ||||||||||||
General Motors Financial Co., Inc., Series C, 5.70%(a)(d)(f) |
2,565 | 2,251,669 | ||||||||||
|
|
|||||||||||
Banks(a)(f) — 2.9% | ||||||||||||
HSBC Capital Funding Dollar 1 LP, 10.18%(b) |
11,835 | 14,605,987 | ||||||||||
Industrial & Commercial Bank of China Ltd., 3.20%(e) . |
300 | 279,231 | ||||||||||
ING Groep NV, 3.88% |
2,284 | 1,625,722 | ||||||||||
Macquarie Bank Ltd., 6.13%(b) |
1,885 | 1,697,949 | ||||||||||
Nordea Bank Abp, 6.13%(b) |
5,540 | 5,229,883 | ||||||||||
PNC Financial Services Group, Inc., Series V, 6.20%(d) |
5,529 | 5,153,857 | ||||||||||
Rizal Commercial Banking Corp., 6.50%(e) |
700 | 618,492 | ||||||||||
TMBThanachart Bank PCL, 4.90%(e) |
700 | 658,000 | ||||||||||
Wells Fargo & Co., Series S, 5.90% |
281 | 277,136 | ||||||||||
|
|
|||||||||||
30,146,257 | ||||||||||||
Capital Markets — 0.1% | ||||||||||||
State Street Corp., Series F, 9.15%(a)(f) |
618 | 616,467 | ||||||||||
|
|
|||||||||||
Electric Utilities — 0.7% | ||||||||||||
PPL Capital Funding, Inc., Series A, 8.20%, 03/30/67(a) |
8,300 | 7,324,754 | ||||||||||
|
|
|||||||||||
Financial Services — 3.7% | ||||||||||||
Bank of America Corp., Series U, 8.63%(a)(f) |
5,785 | 5,784,838 | ||||||||||
Barclays PLC(a)(f) |
||||||||||||
4.38% |
1,630 | 1,107,422 | ||||||||||
8.00% |
4,500 | 4,252,050 | ||||||||||
BNP Paribas SA, 7.38%(a)(b)(f) |
4,535 | 4,397,015 | ||||||||||
Credit Agricole SA, 8.13%(a)(b)(f) |
5,000 | 5,006,250 | ||||||||||
JPMorgan Chase & Co., 8.75%, 09/01/30 |
2,000 | 2,427,744 | ||||||||||
Lloyds Banking Group PLC, 7.50%(a)(f) |
8,285 | 7,747,718 | ||||||||||
NatWest Group PLC, 8.00%(a)(f) |
970 | 944,227 | ||||||||||
UBS Group AG, 7.00%(a)(b)(f) |
7,500 | 7,242,364 | ||||||||||
|
|
|||||||||||
38,909,628 | ||||||||||||
Independent Power and Renewable Electricity Producers — 0.1% | ||||||||||||
Vistra Corp., 7.00%(a)(b)(f) |
481 | 419,672 | ||||||||||
|
|
102 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||
|
||||||||
Insurance — 1.7% | ||||||||
ACE Capital Trust II, 9.70%, 04/01/30(d) |
USD | 7,000 | $ | 8,312,500 | ||||
Equitable of Iowa Cos Capital Trust II, Series B, 8.42%, 04/01/27 |
5,000 | 4,732,805 | ||||||
Kyobo Life Insurance Co. Ltd., 5.90%, 06/15/52(a)(e) |
200 | 195,454 | ||||||
MetLife, Inc., 6.40%, 12/15/66(d) |
5,000 | 4,990,232 | ||||||
|
|
|||||||
18,230,991 | ||||||||
Oil, Gas & Consumable Fuels — 0.2% | ||||||||
Enterprise Products Operating LLC, 8.27%, 06/01/67(a) |
2,500 | 2,349,897 | ||||||
|
|
|||||||
Real Estate Management & Development — 0.0% | ||||||||
NWD Finance BVI Ltd., 4.13%(a)(e)(f) |
409 | 272,954 | ||||||
|
|
|||||||
Wireless Telecommunication Services — 0.5% | ||||||||
Vodafone Group PLC, 7.00%, 04/04/79(a) |
4,745 | 4,865,286 | ||||||
|
|
|||||||
105,387,575 | ||||||||
|
|
|||||||
Shares | ||||||||
|
||||||||
Preferred Stocks — 3.9% | ||||||||
Banks(a)(f) — 2.5% | ||||||||
Citigroup, Inc., Series K |
488,320 | 12,369,146 | ||||||
Wells Fargo & Co., Series Q |
550,500 | 13,768,005 | ||||||
|
|
|||||||
26,137,151 | ||||||||
Capital Markets(a)(f) — 0.9% | ||||||||
Goldman Sachs Group, Inc., Series J, 5.50% |
162,450 | 4,144,099 | ||||||
State Street Corp., Series D |
220,495 | 5,609,393 | ||||||
|
|
|||||||
9,753,492 | ||||||||
IT Services — 0.5% | ||||||||
ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: $3,403,593)(c)(p) |
31,062 | 5,460,826 | ||||||
|
|
|||||||
41,351,469 | ||||||||
Total Preferred Securities — 14.0% (Cost: $151,735,796) |
146,739,044 | |||||||
|
|
|||||||
Par (000) |
||||||||
|
||||||||
U.S. Government Sponsored Agency Securities |
| |||||||
Mortgage-Backed Securities — 14.7% | ||||||||
Uniform Mortgage-Backed Securities, 4.50%, 07/13/53(q) |
USD | 160,000 | 153,825,000 | |||||
|
|
|||||||
Total U.S. Government Sponsored Agency Securities — 14.7% (Cost: $154,150,000) |
|
153,825,000 | ||||||
|
|
|||||||
Shares | ||||||||
|
||||||||
Warrants |
| |||||||
Consumer Discretionary — 0.0% | ||||||||
Service King (Carnelian Point), (Expires 06/30/27, Strike Price USD 10.00)(l) |
450 | — | ||||||
|
|
|||||||
Total Warrants — 0.0% (Cost: $ — ) |
|
— | ||||||
|
|
|||||||
Total Long-Term Investments — 168.7% (Cost: $1,841,051,173) |
|
1,768,694,248 | ||||||
|
|
Security | Shares |
Value | ||||||
|
||||||||
Short-Term Securities |
||||||||
Money Market Funds — 0.7% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 4.98%(o)(r) |
7,466,683 | $ | 7,466,683 | |||||
|
|
|||||||
Total Short-Term Securities — 0.7% (Cost: $7,466,683) |
7,466,683 | |||||||
|
|
|||||||
Options Purchased — 0.1% (Cost: $2,089,125) |
1,442,631 | |||||||
|
|
|||||||
Total Investments Before TBA Sale Commitments and Options Written — 169.5% (Cost: $1,850,606,981) |
|
1,777,603,562 | ||||||
|
|
|||||||
Par (000) |
||||||||
|
||||||||
TBA Sale Commitments |
||||||||
Mortgage-Backed Securities — (7.4)% | ||||||||
Uniform Mortgage-Backed Securities, 4.50%, 07/13/53(q) |
USD | (80,740 | ) | (77,623,941 | ) | |||
|
|
|||||||
Total TBA Sale Commitments — (7.4)% (Proceeds: $(78,109,642)) |
|
(77,623,941 | ) | |||||
|
|
|||||||
Options Written — (0.0)% (Premiums Received: $(755,964)) |
(280,459 | ) | ||||||
|
|
|||||||
Total Investments, Net of TBA Sale Commitments and Options Written — 162.1% (Cost: $1,771,741,375) |
|
1,699,699,162 | ||||||
Liabilities in Excess of Other Assets — (62.1)% |
|
(651,185,982 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 1,048,513,180 | ||||||
|
|
(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) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) | All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements. |
(e) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(f) | Perpetual security with no stated maturity date. |
(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) | Convertible security. |
(i) | Zero-coupon bond. |
(j) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(k) | Issuer filed for bankruptcy and/or is in default. |
(l) | Non-income producing security. |
(m) | 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. |
(n) | Rounds to less than 1,000. |
(o) | Affiliate of the Trust. |
(p) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $5,460,826, representing 0.5% of its net assets as of period end, and an original cost of $3,403,593. |
(q) | Represents or includes a TBA transaction. |
(r) | Annualized 7-day yield as of period end. |
S C H E D U L E O F I N V E S T M E N T S |
103 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 12/31/22 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 06/30/23 |
Shares Held at 06/30/23 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class |
$ | 8,145,069 | $ | — | $ | (678,386) | (a) | $ | — | $ | — | $ | 7,466,683 | 7,466,683 | $ | 173,043 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
|
||||||||||||||||||||||||||
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
|
Face Value |
|
|
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements(a) |
| |||||||
|
||||||||||||||||||||||||||
BNP Paribas SA |
5.24 | %(b) | 04/17/23 | Open | $ | 249,948 | $ | 252,511 | Corporate Bonds | Open/Demand | ||||||||||||||||
BNP Paribas SA |
5.24 | (b) | 04/17/23 | Open | 1,271,480 | 1,284,522 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/17/23 | Open | 269,625 | 272,385 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.07 | (b) | 04/19/23 | Open | 1,826,000 | 1,843,603 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.19 | (b) | 04/19/23 | Open | 1,877,500 | 1,896,050 | Capital Trusts | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 04/19/23 | Open | 1,520,625 | 1,535,679 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 04/19/23 | Open | 4,903,125 | 4,951,666 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.24 | (b) | 04/19/23 | Open | 338,520 | 341,898 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.24 | (b) | 04/19/23 | Open | 5,059,035 | 5,108,310 | Capital Trusts | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.25 | (b) | 04/19/23 | Open | 2,598,750 | 2,623,802 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
4.25 | (b) | 04/19/23 | Open | 5,625,000 | 5,679,563 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.10 | (b) | 04/19/23 | Open | 387,495 | 391,254 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 163,103 | 164,727 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 224,350 | 226,585 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 558,606 | 564,170 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 1,283,992 | 1,296,781 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 1,792,500 | 1,810,353 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 369,380 | 373,059 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 867,818 | 876,461 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 1,186,827 | 1,198,648 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 416,250 | 420,396 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc |
5.23 | (b) | 04/19/23 | Open | 756,175 | 763,707 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.20 | (b) | 04/19/23 | Open | 6,597,156 | 6,648,760 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 04/19/23 | Open | 4,651,612 | 4,698,129 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 4,095,162 | 4,136,032 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 1,107,225 | 1,118,275 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 813,750 | 821,871 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 3,861,562 | 3,900,101 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 5,130,587 | 5,181,791 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 2,182,335 | 2,204,115 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 3,925,000 | 3,964,172 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 442,131 | 446,544 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 2,965,219 | 2,994,812 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 779,313 | 787,090 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 4,326,094 | 4,369,268 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 606,563 | 612,616 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 5,662,500 | 5,719,012 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 3,790,000 | 3,827,824 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 3,075,469 | 3,106,162 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 5,950,042 | 6,009,424 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 909,287 | 918,362 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 04/19/23 | Open | 3,000,131 | 3,030,073 | Corporate Bonds | Open/Demand |
104 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||||||||||||
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements(a) |
| |||||||||
|
||||||||||||||||||||||||||
TD Securities (USA) LLC |
5.24 | %(b) | 04/19/23 | Open | $ | 2,625,000 | $ | 2,651,198 | Corporate Bonds | Open/Demand | ||||||||||||||||
BNP Paribas SA |
5.21 | (b) | 04/26/23 | Open | 1,889,919 | 1,906,844 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.11 | (b) | 05/01/23 | Open | 1,113,600 | 1,122,620 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 05/01/23 | Open | 291,360 | 293,764 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/01/23 | Open | 389,118 | 392,347 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/01/23 | Open | 357,880 | 360,850 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/01/23 | Open | 389,903 | 393,139 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 05/01/23 | Open | 7,318,800 | 7,379,668 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/03/23 | Open | 626,835 | 631,864 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/03/23 | Open | 184,860 | 186,343 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.12 | (b) | 05/05/23 | Open | 202,070 | 203,622 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.05 | (b) | 05/10/23 | Open | 627,323 | 631,810 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.12 | (b) | 05/10/23 | Open | 956,250 | 963,186 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/10/23 | Open | 189,040 | 190,441 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/10/23 | Open | 167,904 | 169,148 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.23 | (b) | 05/10/23 | Open | 5,680,937 | 5,723,029 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 05/22/23 | Open | 4,710,244 | 4,737,668 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
4.25 | (b) | 05/30/23 | Open | 312,945 | 314,090 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
4.90 | (b) | 05/30/23 | Open | 336,870 | 338,291 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.10 | (b) | 05/30/23 | Open | 281,186 | 282,421 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.17 | (b) | 05/30/23 | Open | 1,939,406 | 1,948,040 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.19 | (b) | 05/30/23 | Open | 500,000 | 502,235 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 05/30/23 | Open | 672,636 | 675,648 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 05/30/23 | Open | 326,000 | 327,460 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.25 | (b) | 05/30/23 | Open | 4,500,000 | 4,520,344 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.25 | (b) | 05/30/23 | Open | 3,039,787 | 3,053,137 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.25 | (b) | 05/30/23 | Open | 3,956,250 | 3,974,136 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.25 | (b) | 05/30/23 | Open | 3,053,250 | 3,066,790 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 198,338 | 199,231 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 444,188 | 446,188 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 1,698,375 | 1,706,024 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 114,250 | 114,765 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 1,760,120 | 1,768,047 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 834,480 | 838,238 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 05/30/23 | Open | 356,875 | 358,482 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 05/30/23 | Open | 1,668,975 | 1,676,520 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 05/30/23 | Open | 11,425,000 | 11,476,651 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 05/30/23 | Open | 12,255,692 | 12,311,098 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 05/30/23 | Open | 3,585,000 | 3,601,176 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 05/30/23 | Open | 1,975,994 | 1,984,910 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 05/30/23 | Open | 4,568,750 | 4,589,365 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 05/30/23 | Open | 3,730,125 | 3,746,956 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 05/30/23 | Open | 3,927,206 | 3,944,927 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.25 | (b) | 05/30/23 | Open | 6,166,987 | 6,194,867 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.15 | (b) | 06/01/23 | Open | 975,125 | 979,170 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
(0.25 | ) | 06/06/23 | 07/19/23 | 802,358 | 802,224 | Corporate Bonds | Up to 30 Days | ||||||||||||||||||
BofA Securities, Inc. |
2.25 | 06/06/23 | 07/19/23 | 688,921 | 689,955 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
3.25 | 06/06/23 | 07/19/23 | 573,793 | 575,036 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
3.90 | 06/06/23 | 07/19/23 | 428,925 | 430,040 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
4.25 | 06/06/23 | 07/19/23 | 247,126 | 247,826 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
4.75 | 06/06/23 | 07/19/23 | 1,893,750 | 1,899,747 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
4.90 | 06/06/23 | 07/19/23 | 509,824 | 511,489 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
4.95 | 06/06/23 | 07/19/23 | 498,589 | 500,234 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/06/23 | 07/19/23 | 7,031,250 | 7,054,688 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/06/23 | 07/19/23 | 624,630 | 626,712 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/06/23 | 07/19/23 | 1,291,150 | 1,295,454 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.05 | 06/06/23 | 07/19/23 | 427,625 | 429,065 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.08 | 06/06/23 | 07/19/23 | 831,469 | 834,285 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 936,375 | 939,559 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 1,778,370 | 1,784,416 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 1,238,186 | 1,242,396 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/06/23 | 07/19/23 | 338,250 | 339,400 | Corporate Bonds | Up to 30 Days |
S C H E D U L E O F I N V E S T M E N T S |
105 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||||||||||||
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements(a) |
| |||||||||
|
||||||||||||||||||||||||||
BofA Securities, Inc. |
5.15 | % | 06/06/23 | 07/19/23 | $ | 282,645 | $ | 283,615 | Corporate Bonds | Up to 30 Days | ||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 182,210 | 182,836 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 411,090 | 412,501 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 226,125 | 226,901 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 273,910 | 274,850 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 400,403 | 401,777 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 991,042 | 994,445 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 1,115,625 | 1,119,455 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 282,500 | 283,470 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 756,250 | 758,846 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 163,800 | 164,362 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 485,625 | 487,292 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 310,399 | 311,464 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 1,013,617 | 1,017,098 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 463,125 | 464,715 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 1,098,550 | 1,102,322 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 550,778 | 552,669 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 396,210 | 397,570 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 787,031 | 789,733 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 574,000 | 575,971 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 1,248,446 | 1,252,733 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 1,743,755 | 1,749,742 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 264,749 | 265,658 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 1,134,559 | 1,138,454 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/06/23 | 07/19/23 | 1,704,965 | 1,710,819 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 1,868,696 | 1,875,174 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 1,258,425 | 1,262,788 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 847,880 | 850,819 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 107,749 | 108,122 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 320,000 | 321,109 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 499,444 | 501,175 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 1,291,174 | 1,295,650 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 1,037,351 | 1,040,947 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/06/23 | 07/19/23 | 1,468,416 | 1,473,507 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.22 | 06/06/23 | 07/19/23 | 4,448,814 | 4,464,296 | Foreign Agency Obligations | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.23 | 06/06/23 | 07/19/23 | 2,898,750 | 2,908,857 | Capital Trusts | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.23 | 06/06/23 | 07/19/23 | 2,703,750 | 2,713,177 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.24 | 06/06/23 | 07/19/23 | 5,446,125 | 5,465,150 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 4,995,000 | 5,012,483 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 722,925 | 725,455 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 343,069 | 344,269 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 215,175 | 215,928 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 301,350 | 302,405 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 887,110 | 890,215 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 3,381,581 | 3,393,417 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 383,169 | 384,510 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 9,925,000 | 9,959,738 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 281,286 | 282,271 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 775,249 | 777,962 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 505,750 | 507,520 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 7,199,887 | 7,225,087 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 1,728,486 | 1,734,535 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 624,488 | 626,673 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 3,513,656 | 3,525,954 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 558,495 | 560,450 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 4,796,316 | 4,813,103 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 5,056,250 | 5,073,947 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 515,849 | 517,654 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/06/23 | 07/19/23 | 9,782,937 | 9,817,178 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BNP Paribas SA |
5.20 | (b) | 06/07/23 | Open | 441,955 | 443,423 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 1,600,000 | 1,605,316 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 837,500 | 840,282 | Corporate Bonds | Open/Demand |
106 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||||||||||||
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements(a) |
| |||||||||
|
||||||||||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | %(b) | 06/07/23 | Open | $ | 390,625 | $ | 391,923 | Corporate Bonds | Open/Demand | ||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 1,311,211 | 1,315,567 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 4,164,290 | 4,178,125 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/07/23 | Open | 2,762,681 | 2,771,860 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/07/23 | Open | 386,088 | 387,378 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 06/07/23 | Open | 4,200,000 | 4,214,700 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/07/23 | Open | 6,604,825 | 6,626,937 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/08/23 | 07/19/23 | 355,726 | 356,813 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.10 | 06/08/23 | 07/19/23 | 1,492,329 | 1,496,980 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/08/23 | 07/19/23 | 1,347,266 | 1,351,506 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
4.25 | 06/08/23 | 07/21/23 | 513,765 | 515,099 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 320,591 | 321,600 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 407,410 | 408,692 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 1,170,000 | 1,173,682 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 157,188 | 157,682 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 240,923 | 241,681 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 310,000 | 310,976 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 449,750 | 451,165 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 596,250 | 598,127 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 547,751 | 549,475 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/08/23 | 07/21/23 | 710,000 | 712,235 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 237,545 | 238,300 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 642,375 | 644,416 | Capital Trusts | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 675,978 | 678,126 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 705,994 | 708,237 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/08/23 | 07/21/23 | 877,500 | 880,289 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/08/23 | 07/21/23 | 352,800 | 353,932 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/08/23 | 07/21/23 | 553,900 | 555,677 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/08/23 | 07/21/23 | 83,565 | 83,833 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/08/23 | 07/21/23 | 272,496 | 273,371 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/08/23 | 07/21/23 | 627,608 | 629,621 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/08/23 | Open | 2,637,250 | 2,645,695 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/08/23 | Open | 8,867,775 | 8,896,172 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/08/23 | Open | 2,905,000 | 2,914,302 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/08/23 | Open | 2,930,200 | 2,939,583 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/12/23 | Open | 2,440,350 | 2,446,744 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/15/23 | 07/19/23 | 76,300 | 76,467 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BNP Paribas SA |
5.19 | (b) | 06/15/23 | Open | 685,946 | 687,430 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.19 | (b) | 06/15/23 | Open | 326,519 | 327,225 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/15/23 | Open | 840,000 | 841,820 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Goldman Sachs & Co. LLC |
5.20 | (b) | 06/15/23 | Open | 8,112,500 | 8,130,077 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
3.00 | 06/16/23 | 07/19/23 | 679,770 | 680,393 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.00 | 06/16/23 | 07/19/23 | 143,089 | 143,307 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/16/23 | 07/19/23 | 173,700 | 173,973 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.15 | 06/16/23 | 07/19/23 | 2,854,800 | 2,859,292 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/16/23 | 07/19/23 | 164,590 | 164,854 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/16/23 | 07/19/23 | 362,388 | 362,969 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/16/23 | 07/19/23 | 416,116 | 416,784 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/16/23 | 07/19/23 | 930,520 | 932,013 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/16/23 | 07/19/23 | 371,385 | 371,981 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/16/23 | 07/19/23 | 366,561 | 367,149 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/16/23 | 07/19/23 | 3,525,384 | 3,531,039 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/16/23 | 07/19/23 | 1,762,459 | 1,765,286 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
(3.75 | ) | 06/21/23 | 07/18/23 | 128,250 | 128,317 | Corporate Bonds | Up to 30 Days | ||||||||||||||||||
Barclays Capital, Inc. |
4.50 | 06/21/23 | 07/18/23 | 118,455 | 118,588 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
4.50 | 06/21/23 | 07/18/23 | 461,900 | 462,420 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.15 | 06/21/23 | 07/18/23 | 2,710,000 | 2,713,489 | Foreign Agency Obligations | Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 4,031,250 | 4,036,491 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 5,599,275 | 5,606,554 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.20 | 06/21/23 | 07/18/23 | 2,462,281 | 2,465,482 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.25 | 06/21/23 | 07/18/23 | 4,158,000 | 4,163,457 | Foreign Agency Obligations | Up to 30 Days | |||||||||||||||||||
Barclays Capital, Inc. |
5.25 | 06/21/23 | 07/18/23 | 3,284,587 | 3,288,898 | Foreign Agency Obligations | Up to 30 Days |
S C H E D U L E O F I N V E S T M E N T S |
107 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||||||||||||
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements(a) |
| |||||||||
|
||||||||||||||||||||||||||
BofA Securities, Inc. |
5.20 | % | 06/21/23 | 07/19/23 | $ | 582,049 | $ | 582,805 | Corporate Bonds | Up to 30 Days | ||||||||||||||||
Barclays Capital, Inc. |
1.00 | (b) | 06/21/23 | Open | 154,865 | 154,904 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
5.12 | (b) | 06/21/23 | Open | 3,502,350 | 3,506,833 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
5.25 | (b) | 06/21/23 | Open | 162,000 | 162,213 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.14 | (b) | 06/21/23 | Open | 167,100 | 167,315 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.14 | (b) | 06/21/23 | Open | 640,181 | 641,004 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.15 | (b) | 06/21/23 | Open | 982,520 | 983,785 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.17 | (b) | 06/21/23 | Open | 2,660,625 | 2,664,064 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.23 | (b) | 06/21/23 | Open | 515,780 | 516,454 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.24 | (b) | 06/21/23 | Open | 525,525 | 526,213 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.25 | (b) | 06/21/23 | Open | 8,430,275 | 8,441,340 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.25 | (b) | 06/21/23 | Open | 701,313 | 702,233 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 166,250 | 166,467 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 215,078 | 215,359 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 1,088,370 | 1,089,793 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 618,984 | 619,793 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 488,250 | 488,888 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 995,835 | 997,137 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/21/23 | Open | 812,000 | 813,062 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 06/21/23 | Open | 3,974,831 | 3,980,048 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 06/21/23 | Open | 13,902,781 | 13,921,029 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 06/21/23 | Open | 5,291,625 | 5,298,570 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets, LLC |
5.25 | (b) | 06/21/23 | Open | 2,455,906 | 2,459,130 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 3,110,000 | 3,114,074 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 594,255 | 595,033 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,393,944 | 2,397,080 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 1,388,200 | 1,390,019 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 581,360 | 582,122 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 884,294 | 885,452 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 3,657,312 | 3,662,104 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 3,238,995 | 3,243,238 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,494,794 | 2,498,062 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,817,169 | 2,820,859 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 795,794 | 796,836 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 806,969 | 808,026 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,846,602 | 2,850,332 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 1,248,056 | 1,249,691 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 505,261 | 505,923 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 4,956,250 | 4,962,743 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 8,058,750 | 8,069,307 | Capital Trusts | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 888,300 | 889,464 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,137,500 | 2,140,300 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 5,887,856 | 5,895,569 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,343,000 | 2,346,069 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 1,464,339 | 1,466,257 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 1,074,125 | 1,075,532 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 835,313 | 836,407 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 3,005,625 | 3,009,562 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,667,500 | 2,670,994 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 4,498,375 | 4,504,268 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 4,795,794 | 4,802,076 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 632,425 | 633,253 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 1,649,287 | 1,651,448 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,750,625 | 2,754,228 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,186,225 | 2,189,089 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 3,118,137 | 3,122,222 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 843,275 | 844,380 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 956,019 | 957,271 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 3,495,949 | 3,500,528 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 1,971,000 | 1,973,582 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 4,675,000 | 4,681,124 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,350,094 | 2,353,172 | Corporate Bonds | Open/Demand |
108 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||||||||||||
Counterparty | |
Interest Rate |
|
|
Trade Date |
|
|
Maturity Date |
(a) |
Face Value | |
Face Value Including Accrued Interest |
|
Type of Non‑Cash Underlying Collateral |
|
Remaining Contractual Maturity of the Agreements(a) |
| |||||||||
|
||||||||||||||||||||||||||
TD Securities (USA) LLC |
5.24 | %(b) | 06/21/23 | Open | $ | 578,150 | $ | 578,907 | Corporate Bonds | Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 2,979,025 | 2,982,928 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/21/23 | Open | 587,125 | 587,894 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.25 | (b) | 06/21/23 | Open | 5,052,512 | 5,059,144 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.25 | (b) | 06/21/23 | Open | 10,133,537 | 10,146,838 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.16 | (b) | 06/22/23 | Open | 563,751 | 564,398 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas SA |
5.16 | (b) | 06/22/23 | Open | 627,450 | 628,169 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
5.24 | (b) | 06/23/23 | Open | 10,812,500 | 10,825,091 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/26/23 | Open | 906,250 | 906,777 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/26/23 | Open | 340,100 | 340,396 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
4.45 | 06/27/23 | 07/19/23 | 273,181 | 273,283 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.07 | 06/27/23 | 07/19/23 | 1,105,972 | 1,106,440 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/27/23 | 07/19/23 | 70,908 | 70,939 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.00 | 06/27/23 | 07/21/23 | 560,170 | 560,403 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.05 | 06/27/23 | 07/21/23 | 163,750 | 163,819 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.05 | 06/27/23 | 07/21/23 | 157,500 | 157,566 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.15 | 06/27/23 | 07/21/23 | 1,237,472 | 1,238,003 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/27/23 | 07/21/23 | 368,500 | 368,660 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.20 | 06/27/23 | 07/21/23 | 157,250 | 157,318 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 177,204 | 177,281 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 168,000 | 168,074 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 153,500 | 153,567 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 179,250 | 179,328 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 208,550 | 208,641 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 342,696 | 342,846 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 172,750 | 172,826 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 152,750 | 152,817 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 158,125 | 158,194 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 110,250 | 110,298 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 537,250 | 537,485 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 259,004 | 259,117 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 303,000 | 303,133 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 366,250 | 366,410 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 139,500 | 139,561 | Foreign Agency Obligations | Up to 30 Days | |||||||||||||||||||
J.P. Morgan Securities LLC |
5.25 | 06/27/23 | 07/21/23 | 388,438 | 388,607 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
Nomura Securities International, Inc. |
5.23 | (b) | 06/27/23 | Open | 185,490 | 185,571 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BofA Securities, Inc. |
3.00 | 06/28/23 | 07/19/23 | 426,109 | 426,180 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
3.50 | 06/28/23 | 07/19/23 | 344,300 | 344,367 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/28/23 | 07/19/23 | 809,775 | 810,009 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/28/23 | 07/19/23 | 3,885,000 | 3,886,122 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/28/23 | 07/19/23 | 2,725,131 | 2,725,919 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.20 | 06/28/23 | 07/19/23 | 948,750 | 949,024 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/28/23 | 07/19/23 | 1,867,864 | 1,868,409 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
BofA Securities, Inc. |
5.25 | 06/28/23 | 07/19/23 | 2,531,565 | 2,532,303 | Corporate Bonds | Up to 30 Days | |||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||
$ | 616,162,047 | $ | 618,555,134 | |||||||||||||||||||||||
|
|
|
|
(a) | Certain agreements have no stated maturity and can be terminated by either party at any time. |
(b) | Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
|
||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
||||||||||||||||
Long Contracts |
||||||||||||||||
10-Year U.S. Treasury Note |
471 | 09/20/23 | $ | 52,899 | $ | (310,224 | ) |
S C H E D U L E O F I N V E S T M E N T S |
109 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
||||||||||||||||
Long Contracts (continued) |
||||||||||||||||
2-Year U.S. Treasury Note |
860 | 09/29/23 | $ | 174,916 | $ | (2,381,332 | ) | |||||||||
5-Year U.S. Treasury Note |
1,168 | 09/29/23 | 125,140 | (2,774,505 | ) | |||||||||||
|
|
|||||||||||||||
(5,466,061 | ) | |||||||||||||||
|
|
|||||||||||||||
Short Contracts |
||||||||||||||||
Russell 2000 E-Mini Index |
325 | 09/15/23 | 30,935 | 198,521 | ||||||||||||
S&P 500 E-Mini Index |
94 | 09/15/23 | 21,095 | (340,783 | ) | |||||||||||
10-Year U.S. Ultra Long Treasury Note |
367 | 09/20/23 | 43,501 | 495,340 | ||||||||||||
U.S. Long Bond |
1,064 | 09/20/23 | 135,261 | 1,173,165 | ||||||||||||
Ultra U.S. Treasury Bond |
52 | 09/20/23 | 7,083 | (49,075 | ) | |||||||||||
|
|
|||||||||||||||
1,477,168 | ||||||||||||||||
|
|
|||||||||||||||
$ | (3,988,893 | ) | ||||||||||||||
|
|
|
||||||||||||||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) |
||||||||||||||||||
|
||||||||||||||||||||||
USD | 1,112,415 | EUR | 1,013,703 | BNP Paribas SA | 09/20/23 | $ | 2,033 | |||||||||||||||
USD | 631,399 | EUR | 575,297 | Toronto-Dominion Bank | 09/20/23 | 1,234 | ||||||||||||||||
USD | 196,263 | GBP | 154,000 | Toronto-Dominion Bank | 09/20/23 | 641 | ||||||||||||||||
|
|
|||||||||||||||||||||
$ | 3,908 | |||||||||||||||||||||
|
|
|
||||||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Exercise Price | Notional Amount (000) |
Value | |||||||||||||||
|
||||||||||||||||||||
Call |
||||||||||||||||||||
SPDR S&P 500 ETF Trust |
2,011 | 08/18/23 | USD | 455.00 | USD | 89,144 | $ | 643,520 | ||||||||||||
3-Month SOFR Future |
910 | 03/15/24 | USD | 95.50 | USD | 215,886 | 665,437 | |||||||||||||
|
|
|||||||||||||||||||
1,308,957 | ||||||||||||||||||||
|
|
|||||||||||||||||||
Put |
||||||||||||||||||||
Euro Stoxx 50 Index |
915 | 07/21/23 | EUR | 4,225.00 | EUR | 40,252 | 90,859 | |||||||||||||
SPDR S&P 500 ETF Trust |
1,241 | 07/21/23 | USD | 410.00 | USD | 55,011 | 42,815 | |||||||||||||
|
|
|||||||||||||||||||
133,674 | ||||||||||||||||||||
|
|
|||||||||||||||||||
$ | 1,442,631 | |||||||||||||||||||
|
|
|
||||||||||||||||||||
Description | Number of Contracts |
Expiration Date |
Exercise Price | Notional Amount (000) |
Value | |||||||||||||||
|
||||||||||||||||||||
Call |
||||||||||||||||||||
3-Month SOFR Future |
910 | 03/15/24 | USD | 97.00 | USD | 215,886 | $ | (221,813 | ) | |||||||||||
|
|
|||||||||||||||||||
Put |
||||||||||||||||||||
Euro Stoxx 50 Index |
915 | 07/21/23 | EUR | 4,050.00 | EUR | 40,252 | (34,446 | ) | ||||||||||||
SPDR S&P 500 ETF Trust |
1,241 | 07/21/23 | USD | 390.00 | USD | 55,011 | (24,200 | ) | ||||||||||||
|
|
|||||||||||||||||||
(58,646 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||
$ | (280,459 | ) | ||||||||||||||||||
|
|
110 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||||||||||||||
Reference Obligation/Index | Financing Rate Paid by the Trust |
Payment Frequency |
Termination Date |
Notional Amount (000) |
Value | Upfront Premium Paid (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||||||
|
||||||||||||||||||||||||||||
CDX.NA.HY.40.V1 |
5.00 | % | Quarterly | 06/20/28 | USD 108,600 | $ | (3,229,318 | ) | $ | (662,111 | ) | $ | (2,567,207 | ) | ||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||
Description | Swap Premiums Paid |
Swap Premiums Received |
Unrealized Appreciation |
Unrealized Depreciation |
Value | |||||||||||||||
|
||||||||||||||||||||
Centrally Cleared Swaps(a) |
$ | — | $ | (662,111 | ) | $ | — | $ | (2,567,207 | ) | $ | — | ||||||||
Options Written |
N/A | N/A | 475,505 | — | (280,459 | ) | ||||||||||||||
|
(a) | Includes cumulative appreciation (depreciation) on centrally cleared swaps, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities and is net of any previously paid (received) swap premium amounts. |
|
||||||||||||||||||||||||||||
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Assets — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on futures contracts(a) |
$ | — | $ | — | $ | 198,521 | $ | — | $ | 1,668,505 | $ | — | $ | 1,867,026 | ||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on forward foreign currency exchange contracts |
— | — | — | 3,908 | — | — | 3,908 | |||||||||||||||||||||
Options purchased |
||||||||||||||||||||||||||||
Investments at value — unaffiliated(b) |
— | — | 777,194 | — | 665,437 | — | 1,442,631 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | — | $ | 975,715 | $ | 3,908 | $ | 2,333,942 | $ | — | $ | 3,313,565 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on futures contracts(a) |
$ | — | $ | — | $ | 340,783 | $ | — | $ | 5,515,136 | $ | — | $ | 5,855,919 | ||||||||||||||
Options written |
||||||||||||||||||||||||||||
Options written at value |
— | — | 58,646 | — | 221,813 | — | 280,459 | |||||||||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized depreciation on centrally cleared swaps(a) |
— | 2,567,207 | — | — | — | — | 2,567,207 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 2,567,207 | $ | 399,429 | $ | — | $ | 5,736,949 | $ | — | $ | 8,703,585 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
(b) | Includes options purchased at value as reported in the Schedule of Investments. |
|
||||||||||||||||||||||||||||
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Net Realized Gain (Loss) from: |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | (2,124,200 | ) | $ | — | $ | (301,444 | ) | $ | — | $ | (2,425,644 | ) | |||||||||||
Forward foreign currency exchange contracts |
— | — | — | (11,025 | ) | — | — | (11,025 | ) | |||||||||||||||||||
Options purchased(a) |
— | — | (2,639,337 | ) | — | — | — | (2,639,337 | ) | |||||||||||||||||||
Options written |
— | — | 1,158,037 | — | — | — | 1,158,037 | |||||||||||||||||||||
Swaps |
— | (2,598,677 | ) | — | — | (2,818,506 | ) | — | (5,417,183 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | (2,598,677 | ) | $ | (3,605,500 | ) | $ | (11,025 | ) | $ | (3,119,950 | ) | $ | — | $ | (9,335,152 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
S C H E D U L E O F I N V E S T M E N T S |
111 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||||||||||||||
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | (142,262 | ) | $ | — | $ | (4,986,967 | ) | $ | — | $ | (5,129,229 | ) | |||||||||||
Forward foreign currency exchange contracts |
— | — | — | 3,908 | — | — | 3,908 | |||||||||||||||||||||
Options purchased(b) |
— | — | (448,928 | ) | — | (87,251 | ) | — | (536,179 | ) | ||||||||||||||||||
Options written |
— | — | 393,524 | — | 26,499 | — | 420,023 | |||||||||||||||||||||
Swaps |
— | (1,984,334 | ) | — | — | 5,074,148 | — | 3,089,814 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | (1,984,334 | ) | $ | (197,666 | ) | $ | 3,908 | $ | 26,429 | $ | — | $ | (2,151,663 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Options purchased are included in net realized gain (loss) from investments — unaffiliated. |
(b) | Options purchased are included in net change in unrealized appreciation (depreciation) on investments — unaffiliated. |
|
||||
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 301,064,816 | ||
Average notional value of contracts — short |
$ | 249,296,524 | ||
Forward foreign currency exchange contracts: |
||||
Average amounts purchased — in USD |
$ | 1,317,721 | ||
Options: |
||||
Average value of option contracts purchased |
$ | 721,315 | ||
Average value of option contracts written |
$ | 140,229 | ||
Credit default swaps: |
||||
Average notional value — buy protection |
$ | 108,600,000 | ||
Interest rate swaps: |
||||
Average notional value — receives fixed rate |
$ | — | (a) | |
|
(a) | Derivative not held at any quarter-end. The risk exposure table serves as an indicator of activity during the period. |
|
||||||||
Assets | Liabilities | |||||||
|
||||||||
Derivative Financial Instruments |
||||||||
Futures contracts |
$ | 156,499 | $ | 1,575,034 | ||||
Forward foreign currency exchange contracts |
3,908 | — | ||||||
Options |
1,442,631 | (a) | 280,459 | |||||
Swaps — centrally cleared |
— | 812,546 | ||||||
|
|
|
|
|||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities |
1,603,038 | 2,668,039 | ||||||
|
|
|
|
|||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) |
(1,599,130 | ) | (2,668,039 | ) | ||||
|
|
|
|
|||||
Total derivative assets and liabilities subject to an MNA |
$ | 3,908 | $ | — | ||||
|
|
|
|
(a) | Includes options purchased at value which is included in Investments at value — unaffiliated in the Statements of Assets and Liabilities and reported in the Schedule of Investments. |
|
||||||||||||||||||||
Counterparty | |
Derivative Assets Subject to an MNA by Counterparty |
|
|
Derivatives Available for Offset |
|
|
Non-Cash Collateral Received |
|
|
Cash Collateral Received |
|
|
Net Amount of Derivative Assets |
(a)(b) | |||||
|
||||||||||||||||||||
BNP Paribas SA |
$ | 2,033 | $ | — | $ | — | $ | — | $ | 2,033 | ||||||||||
Toronto-Dominion Bank |
1,875 | — | — | — | 1,875 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 3,908 | $ | — | $ | — | $ | — | $ | 3,908 | |||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized. |
(b) | Net amount represents the net amount receivable from the counterparty in the event of default. |
112 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Credit Allocation Income Trust (BTZ) |
|
||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
||||||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Asset-Backed Securities |
$ | — | $ | 163,975,595 | $ | 520,960 | $ | 164,496,555 | ||||||||
Corporate Bonds |
— | 1,198,250,202 | 583,401 | 1,198,833,603 | ||||||||||||
Floating Rate Loan Interests |
— | 65,272,117 | 1,963,218 | 67,235,335 | ||||||||||||
Foreign Agency Obligations |
— | 26,145,031 | — | 26,145,031 | ||||||||||||
Investment Companies |
946,800 | — | — | 946,800 | ||||||||||||
Municipal Bonds |
— | 10,472,880 | — | 10,472,880 | ||||||||||||
Preferred Securities |
||||||||||||||||
Capital Trusts |
— | 105,387,575 | — | 105,387,575 | ||||||||||||
Preferred Stocks |
35,890,643 | — | 5,460,826 | 41,351,469 | ||||||||||||
U.S. Government Sponsored Agency Securities |
— | 153,825,000 | — | 153,825,000 | ||||||||||||
Warrants |
— | — | — | — | ||||||||||||
Short-Term Securities |
||||||||||||||||
Money Market Funds |
7,466,683 | — | — | 7,466,683 | ||||||||||||
Options Purchased |
||||||||||||||||
Equity Contracts |
777,194 | — | — | 777,194 | ||||||||||||
Interest Rate Contracts |
665,437 | — | — | 665,437 | ||||||||||||
Liabilities |
||||||||||||||||
Investments |
||||||||||||||||
TBA Sale Commitments |
— | (77,623,941 | ) | — | (77,623,941 | ) | ||||||||||
Unfunded Floating Rate Loan Interests(a) |
— | (3,468 | ) | — | (3,468 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 45,746,757 | $ | 1,645,700,991 | $ | 8,528,405 | $ | 1,699,976,153 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative Financial Instruments(b) |
||||||||||||||||
Assets |
||||||||||||||||
Equity Contracts |
$ | 198,521 | $ | — | $ | — | $ | 198,521 | ||||||||
Foreign Currency Exchange Contracts |
— | 3,908 | — | 3,908 | ||||||||||||
Interest Rate Contracts |
1,668,505 | — | — | 1,668,505 | ||||||||||||
Liabilities |
||||||||||||||||
Credit Contracts |
— | (2,567,207 | ) | — | (2,567,207 | ) | ||||||||||
Equity Contracts |
(399,429 | ) | — | — | (399,429 | ) | ||||||||||
Interest Rate Contracts |
(5,736,949 | ) | — | — | (5,736,949 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | (4,269,352 | ) | $ | (2,563,299 | ) | $ | — | $ | (6,832,651 | ) | ||||||
|
|
|
|
|
|
|
|
(a) | Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment. |
(b) | Derivative financial instruments are swaps, futures contracts, forward foreign currency exchange contracts and options written. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value. |
S C H E D U L E O F I N V E S T M E N T S |
113 |
Schedule of Investments (unaudited) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Asset-Backed Securities |
||||||||||||
Golub Capital Partners CLO 66B Ltd., Series 2023-66, Class D, (3-mo. CME Term SOFR + 5.50%), 10.48%, 04/25/36(a)(b) |
USD | 1,000 | $ | 998,106 | ||||||||
Palmer Square CLO Ltd., (3-mo. Term SOFR + 5.00%), 6.80%, 04/20/36 |
1,000 | 1,000,645 | ||||||||||
Pikes Peak CLO Ltd., Series 2023-14, Class D, (3-mo. CME Term SOFR + 5.45%), 10.51%, 04/20/36(a)(b) |
1,000 | 1,000,956 | ||||||||||
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 | 1,000,292 | ||||||||||
|
|
|||||||||||
Total Asset-Backed Securities — 1.4% (Cost: $4,000,000) |
3,999,999 | |||||||||||
|
|
|||||||||||
Shares | ||||||||||||
Common Stocks |
||||||||||||
Automobile Components — 0.0% | ||||||||||||
Lear Corp |
178 | 25,552 | ||||||||||
|
|
|||||||||||
Construction & Engineering — 0.0% |
||||||||||||
McDermott International Ltd.(c) |
76,644 | 13,796 | ||||||||||
|
|
|||||||||||
Energy Equipment & Services — 0.0% |
||||||||||||
Project Investor Holdings LLC, (Acquired 02/12/19, Cost: $0)(d)(e) |
3,738 | — | ||||||||||
|
|
|||||||||||
Financial Services — 0.1% |
||||||||||||
NMG Parent LLC |
2,218 | 273,553 | ||||||||||
|
|
|||||||||||
Household Products — 0.0% |
||||||||||||
Berkline Benchcraft Equity LLC(d) |
6,155 | — | ||||||||||
|
|
|||||||||||
Industrial Conglomerates — 0.0% |
||||||||||||
Ameriforge Group, Inc. |
832 | 8 | ||||||||||
|
|
|||||||||||
Total Common Stocks — 0.1% (Cost: $1,246,954) |
312,909 | |||||||||||
|
|
|||||||||||
Par (000) |
||||||||||||
Corporate Bonds |
||||||||||||
Automobile Components — 0.1% | ||||||||||||
Clarios Global LP, 6.75%, 05/15/25(b) |
USD | 275 | 275,168 | |||||||||
|
|
|||||||||||
Building Materials — 0.0% |
||||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(b) |
73 | 68,968 | ||||||||||
|
|
|||||||||||
Building Products — 0.1% |
||||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28(b) |
155 | 140,469 | ||||||||||
|
|
|||||||||||
Capital Markets — 0.0% |
||||||||||||
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27(b) |
74 | 75,847 | ||||||||||
|
|
|||||||||||
Chemicals(b) — 0.1% |
||||||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28 |
32 | 27,883 | ||||||||||
WR Grace Holdings LLC, 5.63%, 08/15/29 |
409 | 335,094 | ||||||||||
|
|
|||||||||||
362,977 |
Security | Par (000) |
Value | ||||||||||
Commercial Services & Supplies — 0.1% | ||||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 01/15/28(b) |
USD | 127 | $ | 118,974 | ||||||||
|
|
|||||||||||
Construction Materials — 0.0% |
||||||||||||
Wesco Aircraft Holdings, Inc., 9.00%, 11/15/26(b) |
926 | 87,970 | ||||||||||
|
|
|||||||||||
Diversified Telecommunication Services — 0.0% |
|
|||||||||||
Zayo Group Holdings, Inc., 6.13%, 03/01/28(b) |
155 | 96,855 | ||||||||||
|
|
|||||||||||
Electric Utilities — 0.0% | ||||||||||||
Texas Competitive Electric Holdings, 1.00%, 10/10/19(d) |
1,050 | — | ||||||||||
|
|
|||||||||||
Electronic Equipment, Instruments & Components — 0.2% |
| |||||||||||
Vertiv Group Corp., 4.13%, 11/15/28(b) |
556 | 500,941 | ||||||||||
|
|
|||||||||||
Health Care Providers & Services — 0.1% |
|
|||||||||||
Medline Borrower LP, 5.25%, 10/01/29(b) |
237 | 205,645 | ||||||||||
|
|
|||||||||||
Hotels, Restaurants & Leisure(b) — 0.2% |
|
|||||||||||
Caesars Entertainment, Inc., 4.63%, 10/15/29 |
240 | 209,570 | ||||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 01/15/30 |
395 | 336,160 | ||||||||||
|
|
|||||||||||
545,730 | ||||||||||||
Household Durables — 0.0% | ||||||||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29(b) |
194 | 116,405 | ||||||||||
|
|
|||||||||||
Household Products — 0.0% |
||||||||||||
Berkline Benchcraft LLC, 4.50%, 05/03/12(a)(c)(d)(f) |
400 | — | ||||||||||
|
|
|||||||||||
Insurance — 0.1% | ||||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co- Issuer, 6.75%, 10/15/27(b) |
220 | 206,800 | ||||||||||
|
|
|||||||||||
Internet Software & Services(b) — 0.1% |
|
|||||||||||
Uber Technologies, Inc. |
||||||||||||
6.25%, 01/15/28 |
137 | 136,323 | ||||||||||
4.50%, 08/15/29 |
235 | 216,294 | ||||||||||
|
|
|||||||||||
352,617 | ||||||||||||
Machinery — 0.2% | ||||||||||||
Madison IAQ LLC, 5.88%, 06/30/29(b) |
742 | 600,952 | ||||||||||
|
|
|||||||||||
Media(b) — 0.3% |
||||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(g) |
163 | 57,511 | ||||||||||
Odeon Finco PLC, 12.75%, 11/01/27 |
374 | 366,438 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 09/15/26 |
353 | 281,435 | ||||||||||
|
|
|||||||||||
705,384 | ||||||||||||
Passenger Airlines — 0.3% |
||||||||||||
Allegiant Travel Co., 8.50%, 02/05/24(b) |
740 | 738,150 | ||||||||||
|
|
|||||||||||
Real Estate Management & Development — 0.1% |
| |||||||||||
Realogy Group LLC/Realogy Co.-Issuer Corp., 5.75%, 01/15/29(b) |
315 | 235,687 | ||||||||||
|
|
|||||||||||
Software — 0.1% |
||||||||||||
Cloud Software Group, Inc., 9.00%, 09/30/29 |
379 | 331,032 | ||||||||||
|
|
|||||||||||
Wireless Telecommunication Services — 0.0% |
|
|||||||||||
VICI Properties LP/VICI Note Co., Inc., 4.63%, 06/15/25(b) |
85 | 82,131 | ||||||||||
|
|
|||||||||||
Total Corporate Bonds — 2.1% (Cost: $7,008,824) |
5,848,702 | |||||||||||
|
|
114 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Floating Rate Loan Interests(a) |
||||||||||||
Aerospace & Defense — 4.4% | ||||||||||||
Atlas CC Acquisition Corp. |
||||||||||||
Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.78%, 05/25/28 |
USD | 1,813 | $ | 1,569,299 | ||||||||
Term Loan C, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.78%, 05/25/28 |
369 | 319,198 | ||||||||||
Bleriot U.S. Bidco, Inc., 2021 Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.50%, 10/31/26 |
436 | 435,732 | ||||||||||
Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-mo. LIBOR US at 0.50% Floor + 3.50%), 8.56%, 08/03/29 |
228 | 223,784 | ||||||||||
Dynasty Acquisition Co., Inc. |
||||||||||||
2020 CAD Term Loan B2, (1-mo. CME Term SOFR + 3.50%), 8.70%, 04/06/26 |
837 | 829,299 | ||||||||||
2020 Term Loan B1, (1-mo. CME Term SOFR + 3.50%), 8.70%, 04/06/26 |
1,558 | 1,542,679 | ||||||||||
NORDAM Group, Inc., Term Loan B, (1-mo. CME Term SOFR + 5.60%), 10.70%, 04/09/26 |
452 | 384,149 | ||||||||||
Peraton Corp. |
||||||||||||
2nd Lien Term Loan B1, (3-mo. CME Term SOFR at 0.75% Floor + 7.75%), 12.98%, 02/01/29 |
1,049 | 1,014,462 | ||||||||||
Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.95%, 02/01/28 |
3,492 | 3,424,233 | ||||||||||
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3-mo. LIBOR US + 2.00%), 7.54%, 11/05/28 |
826 | 825,116 | ||||||||||
TransDigm, Inc., 2023 Term Loan I, (3-mo. CME Term SOFR + 3.25%), 8.49%, 08/24/28 |
1,846 | 1,844,332 | ||||||||||
|
|
|||||||||||
12,412,283 | ||||||||||||
Automobile Components — 0.6% | ||||||||||||
Adient U.S. LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.47%, 04/10/28 |
322 | 321,507 | ||||||||||
Clarios Global LP, 2023 Incremental Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.85%, 05/06/30 |
1,390 | 1,385,218 | ||||||||||
|
|
|||||||||||
1,706,725 | ||||||||||||
Automobiles — 0.5% | ||||||||||||
Dealer Tire Financial LLC, Term Loan B2, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.60%, 12/14/27 |
1,560 | 1,552,519 | ||||||||||
|
|
|||||||||||
Beverages — 1.1% |
||||||||||||
Naked Juice LLC |
||||||||||||
2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.34%, 01/24/30 |
1,111 | 875,130 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.59%, 01/24/29 |
2,384 | 2,212,866 | ||||||||||
|
|
|||||||||||
3,087,996 | ||||||||||||
Broadline Retail — 1.9% | ||||||||||||
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.61%, 11/24/28 |
990 | 986,133 | ||||||||||
Midas Intermediate Holdco II LLC, 2022 PIK Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.85%, 1.50% PIK), 5.96%, 06/30/27(g) |
1,699 | 1,476,837 |
Security | Par (000) |
Value | ||||||||||
Broadline Retail (continued) | ||||||||||||
PUG LLC |
||||||||||||
2021 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.45%, 02/12/27(d) |
USD | 226 | $ | 203,377 | ||||||||
USD Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.72%, 02/12/27 |
2,319 | 2,055,496 | ||||||||||
Sally Holdings LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.60%, 02/28/30(d) |
391 | 390,531 | ||||||||||
Woof Holdings, Inc., 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.95%, 12/21/27(d) |
333 | 325,828 | ||||||||||
|
|
|||||||||||
5,438,202 | ||||||||||||
Building Products — 1.7% | ||||||||||||
AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.41%, 05/13/29 |
161 | 160,828 | ||||||||||
Cornerstone Building Brands, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.50%, 04/12/28 |
157 | 150,106 | ||||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 11/23/27 |
900 | 845,307 | ||||||||||
CPG International LLC, 2022 Term Loan B, (1‑mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.70%, 04/28/29 |
479 | 476,779 | ||||||||||
IPS Corp. |
||||||||||||
2021 2nd Lien Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 7.00%), 12.20%, 10/01/29(d) |
645 | 503,100 | ||||||||||
2021 Delayed Draw Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.00%, 10/02/28 |
64 | 1,923 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 10/02/28 |
368 | 338,618 | ||||||||||
Jeld-Wen, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.47%, 07/28/28 |
502 | 499,101 | ||||||||||
Wilsonart LLC, 2021 Term Loan E, (6-mo. LIBOR US at 1.00% Floor + 3.50%), 8.71%, 12/31/26 |
1,946 | 1,914,798 | ||||||||||
|
|
|||||||||||
4,890,560 | ||||||||||||
Capital Markets — 3.6% | ||||||||||||
Advisor Group, Inc., 2021 Term Loan, (1-mo. LIBOR US + 4.50%), 9.69%, 07/31/26 |
624 | 623,812 | ||||||||||
Ascensus Holdings, Inc. |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 6.50%), 11.69%, 08/02/29 |
1,778 | 1,582,450 | ||||||||||
Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 08/02/28 |
1,742 | 1,710,728 | ||||||||||
Axalta Coating Systems U.S. Holdings, Inc., 2022 USD Term Loan B4, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.24%, 12/20/29 |
725 | 713,984 | ||||||||||
Azalea Topco, Inc., Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.72%, 07/24/26 |
594 | 576,267 | ||||||||||
Castlelake Aviation Ltd., Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 2.75%), 8.30%, 10/22/26 |
980 | 974,425 | ||||||||||
Castlelake Aviation One DAC, 2023 Incremental Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.00%, 10/22/27 |
444 | 441,183 | ||||||||||
Focus Financial Partners LLC |
||||||||||||
2021 Term Loan B4, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.60%, 06/30/28 |
902 | 889,707 |
S C H E D U L E O F I N V E S T M E N T S |
115 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Capital Markets (continued) | ||||||||||||
Focus Financial Partners LLC (continued) 2023 Term Loan B6, 06/30/28(h) |
USD | 483 | $ | 479,498 | ||||||||
Greenhill & Co., Inc., Term Loan B, (3-mo. LIBOR US + 3.25%), 8.73%, 04/12/24 |
716 | 715,477 | ||||||||||
ION Trading Finance Ltd., 2021 USD Term Loan, (3-mo. LIBOR US + 4.75%), 10.09%, 04/03/28 |
413 | 404,846 | ||||||||||
Press Ganey Holdings, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.97%, 07/24/26 |
1,028 | 992,466 | ||||||||||
|
|
|||||||||||
10,104,843 | ||||||||||||
Chemicals — 5.7% | ||||||||||||
Arc Falcon I, Inc., 2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 7.00%), 12.20%, 09/30/29 |
572 | 489,060 | ||||||||||
Aruba Investments Holdings LLC |
||||||||||||
2020 2nd Lien Term Loan, (1-mo. LIBOR US at 0.75% Floor + 7.75%), 12.94%, 11/24/28 |
885 | 778,800 | ||||||||||
2020 USD Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.20%, 11/24/27 |
468 | 451,093 | ||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 9.99%, 08/27/26 |
1,551 | 1,516,909 | ||||||||||
CPC Acquisition Corp., Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.25%, 12/29/27 |
397 | 299,760 | ||||||||||
Discovery Purchaser Corp., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.38%), 9.62%, 10/04/29 |
591 | 564,665 | ||||||||||
Element Solutions, Inc., 2019 Term Loan B1, (1-mo. CME Term SOFR + 2.00%), 7.10%, 01/31/26 |
1,218 | 1,214,833 | ||||||||||
HB Fuller Co., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.60%, 02/15/30 |
180 | 180,031 | ||||||||||
Illuminate Buyer LLC, 2021 Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.72%, 06/30/27 |
853 | 844,805 | ||||||||||
INEOS U.S. Finance LLC, 2023 USD Term Loan B, (3-mo. CME Term SOFR + 3.50%), 8.70%, 02/18/30 |
416 | 413,250 | ||||||||||
Lonza Group AG, USD Term Loan B, (3-mo. CME Term SOFR + 3.93%), 9.27%, 07/03/28 |
659 | 555,237 | ||||||||||
LSF11 A5 Holdco LLC, Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 10/15/28 |
1,116 | 1,099,602 | ||||||||||
Messer Industries GmbH, 2018 USD Term Loan, (3-mo. CME Term SOFR + 2.50%), 8.00%, 03/02/26 |
1,286 | 1,284,236 | ||||||||||
Momentive Performance Materials USA LLC, 2023 Term Loan, (1-mo. CME Term SOFR + 4.50%), 9.60%, 03/29/28 |
1,252 | 1,218,475 | ||||||||||
Nouryon USA LLC, 2023 USD Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.32%, 04/03/28 |
453 | 448,044 | ||||||||||
Olympus Water U.S. Holding Corp., 2023 Incremental Term Loan, 11/09/28(h) |
416 | 401,353 | ||||||||||
OQ Chemicals Corp., 2017 USD Term Loan B2, (1-mo. CME Term SOFR + 3.60%), 8.74%, 10/14/24 |
1,054 | 1,033,264 | ||||||||||
PQ Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.65%, 06/09/28 |
1,061 | 1,055,535 | ||||||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (1-mo. LIBOR US at 0.75% Floor + 4.00%), 9.19%, 03/16/27 |
645 | 634,851 | ||||||||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.54%, 08/02/28 |
1,012 | 1,002,855 |
Security | Par (000) |
Value | ||||||||||
Chemicals (continued) | ||||||||||||
Starfruit Finco BV, 2018 USD Term Loan B, (3-mo. CME Term SOFR + 2.75%), 8.07%, 10/01/25 |
USD | 97 | $ | 97,373 | ||||||||
W.R. Grace Holdings LLC, 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.75%), 9.31%, 09/22/28 |
568 | 563,116 | ||||||||||
|
|
|||||||||||
16,147,147 | ||||||||||||
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%), 8.95%, 05/12/28 |
1,605 | 1,557,605 | ||||||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.15%, 02/15/29(d) |
483 | 471,042 | ||||||||||
Aramark Services, Inc., 2023 Term Loan B6, (1-mo. CME Term SOFR + 2.50%), 7.72%, 06/22/30(d) |
469 | 468,138 | ||||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 6.95%, 09/07/27 |
1,204 | 1,200,199 | ||||||||||
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1-mo. LIBOR US + 2.00%), 7.19%, 10/08/28 |
427 | 426,849 | ||||||||||
Covanta Holding Corp. |
||||||||||||
2021 Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.60%, 11/30/28 |
53 | 52,279 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.60%, 11/30/28 |
696 | 689,197 | ||||||||||
EnergySolutions LLC, 2018 Term Loan B, (3-mo. LIBOR US at 1.00% Floor + 3.75%), 9.29%, 05/09/25 |
293 | 295,448 | ||||||||||
GFL Environmental, Inc., 2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.15%, 05/28/27 |
448 | 447,471 | ||||||||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.10%), 10.20%, 10/29/28 |
985 | 974,027 | ||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 4.25%), 9.52%, 12/15/28 |
495 | 403,078 | ||||||||||
Prime Security Services Borrower LLC, 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 2.75%), 7.94%, 09/23/26 |
1,205 | 1,204,021 | ||||||||||
Tempo Acquisition LLC, 2022 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.10%, 08/31/28 |
2,947 | 2,947,265 | ||||||||||
TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.20%, 11/02/27 |
1,012 | 929,283 | ||||||||||
Viad Corp., Initial Term Loan, (1-mo. CME Term SOFR + 5.00%), 10.22%, 07/30/28 |
480 | 466,029 | ||||||||||
|
|
|||||||||||
12,531,931 | ||||||||||||
Communications Equipment — 0.2% | ||||||||||||
Ciena Corp., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.59%, 01/18/30 |
131 | 130,672 | ||||||||||
ViaSat, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.60%, 03/02/29 |
588 | 567,903 | ||||||||||
|
|
|||||||||||
698,575 | ||||||||||||
Construction & Engineering — 0.8% | ||||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (1-mo. LIBOR US at 1.00% Floor + 4.25%), 9.41%, 06/21/24 |
601 | 594,288 | ||||||||||
Pike Corp., 2021 Incremental Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.22%, 01/21/28 |
644 | 640,842 | ||||||||||
USIC Holdings, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.50%), 8.69%, 05/12/28 |
1,075 | 1,015,379 | ||||||||||
|
|
|||||||||||
2,250,509 |
116 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Construction Materials — 1.0% | ||||||||||||
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1-mo. CME Term SOFR + 2.00%), 7.20%, 01/15/27 |
USD | 729 | $ | 725,862 | ||||||||
New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.10%, 03/08/29 |
520 | 436,528 | ||||||||||
Oscar AcquisitionCo. LLC, Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.84%, 04/29/29 |
678 | 661,493 | ||||||||||
Standard Industries, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.69%, 09/22/28 |
986 | 984,649 | ||||||||||
|
|
|||||||||||
2,808,532 | ||||||||||||
Consumer Staples Distribution & Retail — 0.4% | ||||||||||||
U.S. Foods, Inc. |
||||||||||||
2019 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.22%, 09/13/26 |
613 | 611,916 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.97%, 11/22/28 |
373 | 372,227 | ||||||||||
|
|
|||||||||||
984,143 | ||||||||||||
Containers & Packaging — 1.9% | ||||||||||||
Charter Next Generation, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.97%, 12/01/27 |
2,140 | 2,121,173 | ||||||||||
Mauser Packaging Solutions Holding Co., Term Loan B, (3-mo. CME Term SOFR + 4.00%), 9.16%, 08/14/26 |
775 | 771,877 | ||||||||||
Pregis TopCo Corp. |
||||||||||||
1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.97%, 07/31/26 |
377 | 374,133 | ||||||||||
2021 Incremental Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.75%), 8.94%, 07/31/26 |
430 | 425,060 | ||||||||||
Reynolds Consumer Products LLC, Term Loan, (1-mo. CME Term SOFR + 1.75%), 6.95%, 02/04/27 |
919 | 917,819 | ||||||||||
Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1-mo. CME Term SOFR + 3.25%), 8.47%, 02/05/26 |
188 | 188,035 | ||||||||||
Trident TPI Holdings, Inc., 2021 Incremental Term Loan, (3-mo. LIBOR US at 0.50% Floor + 4.00%), 9.54%, 09/15/28 |
704 | 691,065 | ||||||||||
|
|
|||||||||||
5,489,162 | ||||||||||||
Distributors — 0.2% | ||||||||||||
PAI Holdco, Inc., 2020 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.75%), 9.02%, 10/28/27 |
627 | 579,228 | ||||||||||
|
|
|||||||||||
Diversified Consumer Services — 3.2% | ||||||||||||
2U, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 6.50%), 11.32%, 12/28/26 |
587 | 562,374 | ||||||||||
Ascend Learning LLC |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 5.75%), 10.95%, 12/10/29 |
482 | 407,690 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.70%, 12/11/28 |
1,179 | 1,105,909 | ||||||||||
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.47%, 11/24/28 |
569 | 566,723 | ||||||||||
KUEHG Corp., 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.00%), 10.24%, 06/12/30 |
863 | 853,291 | ||||||||||
Sotheby’s |
||||||||||||
2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 4.50%), 9.76%, 01/15/27 |
1,089 | 1,060,179 | ||||||||||
2023 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.76%, 01/15/27 |
245 | 238,263 |
Security | Par (000) |
Value | ||||||||||
Diversified Consumer Services (continued) | ||||||||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3-mo. LIBOR US + 4.00%), 9.54%, 07/30/25 |
USD | 614 | $ | 608,399 | ||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (1-mo. LIBOR US at 1.00% Floor + 5.00%), 10.22%, 09/01/25 |
1,821 | 1,532,499 | ||||||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1-mo. LIBOR US + 2.75%), 7.41%, 02/05/26 |
1,572 | 1,557,098 | ||||||||||
WCG Intermediate Corp., 2019 Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.00%), 9.22%, 01/08/27 |
752 | 736,792 | ||||||||||
|
|
|||||||||||
9,229,217 | ||||||||||||
Diversified REITs — 0.2% | ||||||||||||
RHP Hotel Properties, LP, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.85%, 05/18/30 |
512 | 510,970 | ||||||||||
|
|
|||||||||||
Diversified Telecommunication Services — 5.1% | ||||||||||||
Altice Financing SA |
||||||||||||
2017 USD Term Loan B, (3-mo. LIBOR US + 2.75%), 8.01%, 07/15/25(d) |
684 | 670,555 | ||||||||||
USD 2017 1st Lien Term Loan, (3-mo. LIBOR US + 2.75%), 8.01%, 01/31/26 |
945 | 927,561 | ||||||||||
Cablevision Lightpath LLC, Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.44%, 11/30/27 |
143 | 137,555 | ||||||||||
Connect Finco SARL, 2021 Term Loan B, (1-mo. LIBOR US + 3.50%), 8.70%, 12/11/26 |
3,443 | 3,438,137 | ||||||||||
Consolidated Communications, Inc., 2021 Term Loan B, (1‑mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.72%, 10/02/27 |
497 | 437,492 | ||||||||||
Iridium Satellite LLC, 2021 Term Loan B2, (1-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.70%, 11/04/26 |
1,106 | 1,105,548 | ||||||||||
Level 3 Financing, Inc., 2019 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 6.97%, 03/01/27 |
1,082 | 1,005,264 | ||||||||||
Lumen Technologies, Inc., 2020 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.47%, 03/15/27 |
1,099 | 843,326 | ||||||||||
Orbcomm, Inc., Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 4.25%), 9.58%, 09/01/28 |
535 | 427,900 | ||||||||||
Radiate Holdco LLC, 2021 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 09/25/26 |
1,620 | 1,347,400 | ||||||||||
Virgin Media Bristol LLC |
||||||||||||
2020 USD Term Loan Q, (1-mo. LIBOR US + 3.25%), 8.44%, 01/31/29 |
278 | 276,510 | ||||||||||
USD Term Loan N, (1-mo. LIBOR US + 2.50%), 7.69%, 01/31/28 |
609 | 603,193 | ||||||||||
Virgin Media SFA Finance Ltd., GBP Term Loan L, (1-mo. SONIA + 3.25%), 7.68%, 01/15/27 |
GBP | 600 | 726,856 | |||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1-mo. CME Term SOFR + 3.00%), 8.22%, 03/09/27 |
USD | 3,114 | 2,436,853 | |||||||||
|
|
|||||||||||
14,384,150 | ||||||||||||
Electric Utilities — 0.1% | ||||||||||||
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1-mo. LIBOR US + 2.00%), 7.19%, 01/15/25 |
308 | 307,942 | ||||||||||
|
|
|||||||||||
Electrical Equipment — 0.3% | ||||||||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.25%, 06/23/28(d) |
937 | 911,529 | ||||||||||
|
|
|||||||||||
Electronic Equipment, Instruments & Components — 0.3% | ||||||||||||
Coherent Corp., 2022 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.97%, 07/02/29 |
981 | 977,139 | ||||||||||
|
|
S C H E D U L E O F I N V E S T M E N T S |
117 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Energy Equipment & Services — 0.7% | ||||||||||||
Lealand Finance Co. BV |
||||||||||||
2020 Make Whole Term Loan, (3-mo. CME Term SOFR + 3.00%), 8.22%, 06/28/24 |
USD | 25 | $ | 18,689 | ||||||||
2020 Take Back Term Loan, (1-mo. LIBOR US + 1.00%, 3.00% PIK), 6.19%, 06/30/25(g) |
188 | 104,722 | ||||||||||
Oryx Midstream Services Permian Basin LLC, 2023 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.54%, 10/05/28 |
1,899 | 1,892,866 | ||||||||||
|
|
|||||||||||
2,016,277 | ||||||||||||
Entertainment — 4.8% | ||||||||||||
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1-mo. LIBOR US + 3.00%), 8.22%, 04/22/26 |
924 | 719,687 | ||||||||||
Aristocrat Technologies, Inc., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.59%, 05/24/29 |
62 | 62,155 | ||||||||||
Cirque Du Soleil Holding USA Newco, Inc., 2023 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.49%, 03/08/30 |
557 | 551,390 | ||||||||||
City Football Group Ltd., Term Loan, (3-mo. LIBOR US at 0.50% Floor + 3.00%), 8.27%, 07/21/28 |
1,031 | 1,010,141 | ||||||||||
Creative Artists Agency LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.60%, 11/27/28 |
961 | 957,471 | ||||||||||
Delta 2 Lux SARL, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.10%, 01/15/30 |
796 | 795,602 | ||||||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3-mo. LIBOR US at 1.00% Floor + 3.00%), 8.73%, 03/08/24 |
2,395 | 2,218,358 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1‑mo. CME Term SOFR + 1.75%), 6.93%, 10/17/26 |
1,547 | 1,541,423 | ||||||||||
Playtika Holding Corp., 2021 Term Loan, (1‑mo. LIBOR US + 2.75%), 7.94%, 03/13/28 |
1,050 | 1,045,240 | ||||||||||
SMG U.S. Midco 2, Inc., 2020 Term Loan, (3‑mo. LIBOR US + 2.50%), 7.77%, 01/23/25 |
934 | 931,343 | ||||||||||
UFC Holdings LLC, 2021 Term Loan B, (3‑mo. LIBOR US at 0.75% Floor + 2.75%), 8.05%, 04/29/26 |
550 | 549,315 | ||||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1-mo. LIBOR US + 2.75%), 7.95%, 05/18/25 |
1,656 | 1,650,206 | ||||||||||
WMG Acquisition Corp., 2021 Term Loan G, (1-mo. CME Term SOFR + 2.13%), 7.33%, 01/20/28 |
1,662 | 1,655,538 | ||||||||||
|
|
|||||||||||
13,687,869 | ||||||||||||
Financial Services — 5.1% | ||||||||||||
ABG Intermediate Holdings 2 LLC |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.20%, 12/20/29 |
123 | 113,775 | ||||||||||
2021 Term Loan B1, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.70%, 12/21/28 |
486 | 482,980 | ||||||||||
Altice France SA, 2023 USD Term Loan B14, (3-mo. CME Term SOFR + 5.50%), 10.49%, 08/15/28 |
1,171 | 1,038,046 | ||||||||||
Belron Finance U.S. LLC |
||||||||||||
2018 Term Loan B, (3-mo. LIBOR US + 2.25%), 7.63%, 11/13/25 |
266 | 266,333 | ||||||||||
2019 USD Term Loan B3, (3-mo. LIBOR US + 2.25%), 7.56%, 10/30/26 |
651 | 650,287 | ||||||||||
2021 USD Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 2.43%), 7.80%, 04/13/28 |
1,693 | 1,689,149 | ||||||||||
Belron Luxembourg SARL, 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.83%, 04/18/29 |
289 | 288,821 |
Security | Par (000) |
Value | ||||||||||
Financial Services (continued) | ||||||||||||
Deerfield Dakota Holding LLC |
||||||||||||
2020 USD Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.75%), 8.99%, 04/09/27 |
USD | 3,772 | $ | 3,653,770 | ||||||||
2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 6.75%), 12.29%, 04/07/28 |
1,114 | 1,031,843 | ||||||||||
FinCo I LLC, 2020 Term Loan B, (6-mo. LIBOR US + 2.50%), 8.08%, 06/27/25 |
381 | 380,623 | ||||||||||
LBM Acquisition LLC, Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.94%, 12/17/27 |
312 | 299,196 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.45%, 03/24/25 |
807 | 803,215 | ||||||||||
Sotera Health Holdings LLC, 2021 Term Loan, (3-mo. LIBOR US at 0.50% Floor + 2.75%), 8.02%, 12/11/26 |
1,564 | 1,537,615 | ||||||||||
Travelport Finance SARL, 2023 Consented Term Loan, 05/29/26(d)(h) |
931 | 569,306 | ||||||||||
UPC Financing Partnership, 2021 USD Term Loan AX, (1-mo. LIBOR US + 2.93%), 8.12%, 01/31/29 |
474 | 463,018 | ||||||||||
WEX, Inc., 2021 Term Loan, (1-mo. CME Term SOFR + 2.25%), 7.47%, 03/31/28 |
597 | 596,225 | ||||||||||
White Cap Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.75%), 8.85%, 10/19/27 |
751 | 743,151 | ||||||||||
|
|
|||||||||||
14,607,353 | ||||||||||||
Food Products — 3.5% | ||||||||||||
8th Avenue Food & Provisions, Inc. |
||||||||||||
2018 1st Lien Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.97%, 10/01/25 |
729 | 668,358 | ||||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 4.75%), 9.97%, 10/01/25 |
935 | 865,925 | ||||||||||
Chobani LLC, 2020 Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.50%), 8.72%, 10/25/27 |
1,973 | 1,959,683 | ||||||||||
Froneri International Ltd., 2020 USD Term Loan, (1-mo. CME Term SOFR + 2.25%), 7.45%, 01/29/27 |
2,168 | 2,153,239 | ||||||||||
H-Food Holdings LLC, 2018 Term Loan B, (6‑mo. LIBOR US + 3.69%), 9.27%, 05/23/25 |
308 | 270,388 | ||||||||||
Hostess Brands LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 2.50%), 7.75%, 06/21/30 |
622 | 619,897 | ||||||||||
Nomad Foods U.S. LLC, 2022 Term Loan B, (6‑mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.56%, 11/12/29 |
624 | 622,937 | ||||||||||
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3-mo. LIBOR US at 0.75% Floor + 3.50%), 8.77%, 06/08/28 |
1,153 | 1,138,993 | ||||||||||
Triton Water Holdings, Inc., Term Loan, (3-mo. CME Term SOFR at 0.50% Floor), 5.24%, 03/31/28 |
1,400 | 1,351,011 | ||||||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.22%, 01/20/28 |
419 | 418,345 | ||||||||||
|
|
|||||||||||
10,068,776 | ||||||||||||
Ground Transportation — 0.8% | ||||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 4.75%), 9.93%, 04/06/28 |
355 | 342,801 | ||||||||||
Avis Budget Car Rental LLC, 2020 Term Loan B, (1-mo. CME Term SOFR + 1.75%), 6.97%, 08/06/27 |
404 | 398,543 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3‑mo. LIBOR US + 5.50%), 10.76%, 08/04/25 |
711 | 638,114 | ||||||||||
Uber Technologies, Inc., 2023 Term Loan B, (3‑mo. CME Term SOFR + 2.75%), 8.01%, 03/03/30 |
985 | 986,735 | ||||||||||
|
|
|||||||||||
2,366,193 | ||||||||||||
Health Care Equipment & Supplies — 1.7% | ||||||||||||
Chariot Buyer LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 11/03/28 |
1,508 | 1,472,219 |
118 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Health Care Equipment & Supplies (continued) | ||||||||||||
Femur Buyer, Inc., 1st Lien Term Loan, (3-mo. LIBOR US + 4.50%), 10.00%, 03/05/26 |
USD | 422 | $ | 386,245 | ||||||||
Insulet Corp., Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.47%, 05/04/28 |
469 | 468,833 | ||||||||||
Medline Borrower LP, USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.47%, 10/23/28 |
2,668 | 2,635,776 | ||||||||||
|
|
|||||||||||
4,963,073 | ||||||||||||
Health Care Providers & Services — 2.9% | ||||||||||||
CHG Healthcare Services, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.44%, 09/29/28 |
628 | 624,208 | ||||||||||
CNT Holdings I Corp., 2020 Term Loan, (3‑mo. CME Term SOFR at 0.75% Floor + 3.50%), 8.46%, 11/08/27 |
1,127 | 1,121,881 | ||||||||||
Electron BidCo, Inc., 2021 Term Loan, (1‑mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.22%, 11/01/28 |
1,344 | 1,337,069 | ||||||||||
Envision Healthcare Corp. |
||||||||||||
2022 First Out Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 7.88%), 13.27%, 03/31/27 |
1 | (i) | 345 | |||||||||
2022 Second Out Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 4.25%), 9.49%, 03/31/27 |
969 | 204,778 | ||||||||||
EyeCare Partners LLC |
||||||||||||
2020 Term Loan, (3-mo. CME Term SOFR + 3.75%), 9.25%, 02/18/27 |
1,029 | 754,109 | ||||||||||
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.75%), 12.25%, 11/15/29 |
358 | 237,912 | ||||||||||
2021 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.25%, 11/15/28 |
329 | 234,573 | ||||||||||
Ingenovis Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 3.75%), 8.97%, 03/06/28 |
995 | 955,038 | ||||||||||
MED ParentCo LP, 1st Lien Term Loan, (1‑mo. LIBOR US + 4.25%), 9.47%, 08/31/26 |
819 | 758,063 | ||||||||||
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 7.00%), 12.36%, 11/01/29 |
377 | 333,174 | ||||||||||
Option Care Health, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.94%, 10/27/28 |
430 | 429,254 | ||||||||||
PetVet Care Centers LLC, 2021 Term Loan B3, (1-mo. LIBOR US at 0.75% Floor + 3.50%), 8.69%, 02/14/25 |
32 | 31,433 | ||||||||||
Reverb Buyer, Inc., 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.61%, 11/01/28 |
681 | 638,357 | ||||||||||
Surgery Center Holdings, Inc., 2021 Term Loan, (1-mo. LIBOR US at 0.75% Floor + 3.75%), 8.90%, 08/31/26 |
365 | 364,384 | ||||||||||
Vizient, Inc., 2022 Term Loan B7, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.44%, 05/16/29 |
207 | 206,595 | ||||||||||
|
|
|||||||||||
8,231,173 | ||||||||||||
Health Care Technology — 2.9% | ||||||||||||
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.59%, 02/15/29 |
1,840 | 1,768,827 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (3‑mo. LIBOR US at 0.50% Floor + 4.00%), 9.54%, 06/02/28 |
2,848 | 2,615,580 | ||||||||||
Verscend Holding Corp. |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 7.00%), 12.22%, 04/02/29(d) |
1,902 | 1,902,000 | ||||||||||
2021 Term Loan B, (1-mo. LIBOR US + 4.00%), 9.22%, 08/27/25 |
1,909 | 1,905,930 | ||||||||||
|
|
|||||||||||
8,192,337 |
Security | Par (000) |
Value | ||||||||||
Hotels, Restaurants & Leisure — 6.2% | ||||||||||||
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1-mo. LIBOR US + 3.75%), 8.94%, 02/02/26 |
USD | 813 | $ | 785,522 | ||||||||
Alterra Mountain Co., 2023 Term Loan B, (1‑mo. CME Term SOFR + 3.75%), 8.95%, 05/31/30(d) |
95 | 94,763 | ||||||||||
Bally’s Corp., 2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.40%, 10/02/28 |
551 | 537,796 | ||||||||||
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc., Term Loan B4, (1-mo. LIBOR US + 1.75%), 6.94%, 11/19/26 |
993 | 985,026 | ||||||||||
Caesars Entertainment, Inc., Term Loan B, (1‑mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 02/06/30 |
765 | 764,386 | ||||||||||
Carnival Corp., USD Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.22%, 06/30/25 |
1,115 | 1,112,564 | ||||||||||
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1-mo. CME Term SOFR + 2.00%), 7.20%, 03/17/28 |
898 | 889,023 | ||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.10%, 01/27/29 |
2,324 | 2,291,045 | ||||||||||
Flutter Financing BV, 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.75%, 07/22/28 |
725 | 726,011 | ||||||||||
Four Seasons Hotels Ltd., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 11/30/29 |
1,885 | 1,887,396 | ||||||||||
IRB Holding Corp., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.20%, 12/15/27 |
1,471 | 1,459,298 | ||||||||||
Packers Holdings LLC, 2021 Term Loan, (1‑mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.44%, 03/09/28 |
557 | 384,284 | ||||||||||
Penn Entertainment, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.95%, 05/03/29 |
910 | 906,666 | ||||||||||
Playa Resorts Holding BV, 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.34%, 01/05/29 |
294 | 293,445 | ||||||||||
Scientific Games International, Inc., 2022 USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.25%, 04/14/29 |
500 | 498,620 | ||||||||||
SeaWorld Parks & Entertainment, Inc., 2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 3.00%), 8.25%, 08/25/28 |
423 | 421,131 | ||||||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3-mo. CME Term SOFR + 2.25%), 7.75%, 07/21/26 |
682 | 681,137 | ||||||||||
Station Casinos LLC, 2020 Term Loan B, (1‑mo. LIBOR US at 0.25% Floor + 2.25%), 7.45%, 02/08/27 |
1,253 | 1,248,099 | ||||||||||
Whatabrands LLC, 2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.47%, 08/03/28 |
1,388 | 1,377,886 | ||||||||||
Wyndham Hotels & Resorts, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 2.25%), 7.45%, 05/24/30 |
332 | 331,358 | ||||||||||
|
|
|||||||||||
17,675,456 | ||||||||||||
Household Durables — 1.5% | ||||||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.75%, 05/17/28 |
1,009 | 845,626 | ||||||||||
Hunter Douglas, Inc., USD Term Loan B1, (3‑mo. CME Term SOFR + 3.50%), 8.67%, 02/26/29 |
1,479 | 1,399,337 | ||||||||||
Serta Simmons Bedding LLC, 2023 Take Back Term Loan, 0.00%, 01/23/28 |
285 | 285,302 |
S C H E D U L E O F I N V E S T M E N T S |
119 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Household Durables (continued) | ||||||||||||
Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.22%, 10/06/28 |
USD | 506 | $ | 407,766 | ||||||||
Weber-Stephen Products LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.25%), 8.47%, 10/30/27 |
1,458 | 1,276,721 | ||||||||||
|
|
|||||||||||
4,214,752 | ||||||||||||
Household Products — 0.5% | ||||||||||||
Diamond BC BV, 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.06%, 09/29/28 |
1,062 | 1,059,741 | ||||||||||
Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 6.00%), 11.38%, 12/22/26 |
250 | 245,495 | ||||||||||
|
|
|||||||||||
1,305,236 | ||||||||||||
Independent Power and Renewable Electricity Producers — 0.7% | ||||||||||||
Calpine Corp. |
||||||||||||
2019 Term Loan B10, (1-mo. LIBOR US + 2.00%), 7.19%, 08/12/26 |
464 | 462,980 | ||||||||||
Term Loan B9, (1-mo. LIBOR US + 2.00%), 7.20%, 04/05/26 |
862 | 860,929 | ||||||||||
Constellation Renewables LLC, 2020 Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + 2.50%), 8.03%, 12/15/27 |
728 | 722,779 | ||||||||||
|
|
|||||||||||
2,046,688 | ||||||||||||
Industrial Conglomerates — 0.2% | ||||||||||||
Stitch Aquisition Corp., Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 6.75%), 12.29%, 07/28/28 |
666 | 492,940 | ||||||||||
|
|
|||||||||||
Insurance — 4.7% | ||||||||||||
Alliant Holdings Intermediate LLC |
||||||||||||
2021 Term Loan B4, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.65%, 11/06/27 |
2,328 | 2,311,783 | ||||||||||
2023 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.65%, 11/05/27 |
2,384 | 2,366,928 | ||||||||||
AmWINS Group, Inc. |
||||||||||||
2021 Term Loan B, (1-mo. LIBOR US at 0.75% Floor + 2.25%), 7.44%, 02/19/28 |
1,182 | 1,169,636 | ||||||||||
2023 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 2.75%), 7.83%, 02/19/28 |
304 | 303,392 | ||||||||||
AssuredPartners, Inc. |
||||||||||||
2020 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.72%, 02/12/27 |
621 | 614,838 | ||||||||||
2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.72%, 02/12/27 |
599 | 592,974 | ||||||||||
HUB International Ltd. |
||||||||||||
2022 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.07%, 11/10/29 |
286 | 285,125 | ||||||||||
2023 Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.25%), 9.34%, 06/20/30 |
3,390 | 2,840,880 | ||||||||||
Ryan Specialty Group LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.20%, 09/01/27 |
836 | 834,544 | ||||||||||
USI, Inc. |
||||||||||||
2019 Incremental Term Loan B, (3-mo. LIBOR US + 3.25%), 8.79%, 12/02/26 |
131 | 131,060 | ||||||||||
2022 Incremental Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.99%, 11/22/29 |
1,977 | 1,972,363 | ||||||||||
|
|
|||||||||||
13,423,523 |
Security | Par (000) |
Value | ||||||||||
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%), 9.39%, 02/16/28 |
USD | 263 | $ | 259,702 | ||||||||
Adevinta ASA, USD Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 2.75%), 8.29%, 06/26/28 |
797 | 796,312 | ||||||||||
Camelot Finance SA, Term Loan B, (1-mo. CME Term SOFR + 3.00%), 8.22%, 10/30/26 |
1,131 | 1,128,566 | ||||||||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1-mo. CME Term SOFR at 1.00% Floor + 3.00%), 8.22%, 10/30/26 |
1,240 | 1,237,440 | ||||||||||
GoodRx, Inc., 1st Lien Term Loan, (1-mo. LIBOR US + 2.75%), 7.94%, 10/10/25 |
441 | 440,295 | ||||||||||
Grab Holdings, Inc., Term Loan B, (1-mo. LIBOR US at 1.00% Floor + 4.50%), 9.70%, 01/29/26 |
646 | 644,749 | ||||||||||
|
|
|||||||||||
4,507,064 | ||||||||||||
IT Services — 3.4% | ||||||||||||
Asurion LLC |
||||||||||||
2020 Term Loan B8, (3-mo. LIBOR US + 3.25%), 8.79%, 12/23/26 |
182 | 174,845 | ||||||||||
2021 2nd Lien Term Loan B3, (1-mo. CME Term SOFR + 5.25%), 10.51%, 01/31/28 |
689 | 584,109 | ||||||||||
2021 Second Lien Term Loan B4, (1-mo. LIBOR US + 5.25%), 10.51%, 01/20/29 |
984 | 822,870 | ||||||||||
2023 Term Loan B11, (1-mo. CME Term SOFR + 4.25%), 9.45%, 08/19/28 |
817 | 776,039 | ||||||||||
Epicor Software Corp., 2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 7.75%), 12.95%, 07/31/28 |
1,316 | 1,312,986 | ||||||||||
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.34%, 10/01/27 |
1,899 | 1,868,156 | ||||||||||
Go Daddy Operating Co. LLC |
||||||||||||
2021 Term Loan B4, (1-mo. LIBOR US + 2.00%), 7.19%, 08/10/27 |
449 | 447,721 | ||||||||||
2022 Term Loan B5, (1-mo. CME Term SOFR + 3.00%), 8.10%, 11/09/29 |
912 | 913,647 | ||||||||||
Sedgwick Claims Management Services, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 3.75%), 8.85%, 02/17/28 |
2,461 | 2,444,162 | ||||||||||
Venga Finance SARL, 2021 USD Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor + 4.75%), 10.28%, 06/28/29 |
399 | 381,931 | ||||||||||
|
|
|||||||||||
9,726,466 | ||||||||||||
Leisure Products — 0.5% | ||||||||||||
Fender Musical Instruments Corp., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.19%, 12/01/28(d) |
599 | 570,037 | ||||||||||
Peloton Interactive, Inc., Term Loan, (6-mo. CME Term SOFR at 0.50% Floor + 6.50%), 12.26%, 05/25/27 |
211 | 209,816 | ||||||||||
Topgolf Callaway Brands Corp., Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.70%, 03/15/30 |
704 | 703,059 | ||||||||||
|
|
|||||||||||
1,482,912 | ||||||||||||
Life Sciences Tools & Services — 2.8% | ||||||||||||
Avantor Funding, Inc., 2021 Term Loan B5, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.45%, 11/08/27 |
938 | 936,744 | ||||||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1-mo. LIBOR US at 0.50% Floor + 2.00%), 7.19%, 02/22/28 |
978 | 955,221 | ||||||||||
Curia Global, Inc., 2021 Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.90%, 08/30/26 |
86 | 73,967 |
120 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Life Sciences Tools & Services (continued) |
| |||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 4.50%), 9.72%, 02/04/27 |
USD | 1,218 | $ | 1,169,358 | ||||||||
Fortrea Holdings, Inc., Term Loan B, 06/12/30(h) |
259 | 258,871 | ||||||||||
ICON Luxembourg SARL, LUX Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.75%, 07/03/28 |
1,415 | 1,414,249 | ||||||||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.03%, 10/19/27 |
916 | 914,617 | ||||||||||
Parexel International Corp., 2021 1st Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.25%), 8.35%, 11/15/28 |
1,883 | 1,866,021 | ||||||||||
PRA Health Sciences, Inc., US Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.75%, 07/03/28 |
353 | 352,362 | ||||||||||
|
|
|||||||||||
7,941,410 | ||||||||||||
Machinery — 5.8% |
||||||||||||
Albion Financing 3 SARL, USD Term Loan, (3-mo. LIBOR US at 0.50% Floor + 5.25%), 10.52%, 08/17/26(d) |
1,212 | 1,202,604 | ||||||||||
Clark Equipment Co., 2022 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.84%, 04/20/29 |
186 | 185,535 | ||||||||||
Columbus McKinnon Corp., 2021 Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), 8.23%, 05/14/28 |
229 | 228,691 | ||||||||||
Filtration Group Corp. |
||||||||||||
2021 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.72%, 10/21/28 |
720 | 716,831 | ||||||||||
2023 USD Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.33%, 10/21/28 |
1,455 | 1,453,234 | ||||||||||
Gates Global LLC, 2021 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 2.50%), 7.70%, 03/31/27 |
1,484 | 1,474,817 | ||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1-mo. CME Term SOFR + 1.75%), 6.95%, 03/01/27 |
1,371 | 1,368,384 | ||||||||||
Madison IAQ LLC, Term Loan, (6-mo. LIBOR US at 0.50% Floor + 3.25%), 8.30%, 06/21/28 |
2,276 | 2,226,648 | ||||||||||
Roper Industrial Products Investment Co., USD Term Loan, (3-mo. CME Term SOFR + 4.50%), 9.74%, 11/22/29 |
1,322 | 1,315,079 | ||||||||||
SPX Flow, Inc., 2022 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.70%, 04/05/29 |
1,197 | 1,180,766 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (3-mo. LIBOR US + 3.00%), 8.73%, 03/28/25 |
2,377 | 2,316,306 | ||||||||||
Vertical U.S. Newco, Inc., Term Loan B, (6-mo. LIBOR US at 0.50% Floor + 3.50%), 8.60%, 07/30/27 |
1,391 | 1,377,250 | ||||||||||
Vertiv Group Corp., 2021 Term Loan B, (1-mo. LIBOR US + 2.75%), 7.94%, 03/02/27 |
1,490 | 1,483,652 | ||||||||||
Zurn LLC, 2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 2.00%), 7.19%, 10/04/28 |
77 | 76,638 | ||||||||||
|
|
|||||||||||
16,606,435 | ||||||||||||
Media — 4.7% |
||||||||||||
AVSC Holding Corp. |
||||||||||||
2020 Term Loan B1, (1-mo. LIBOR US at 1.00% Floor + 3.25%), 8.68%, 03/03/25 |
617 | 600,360 | ||||||||||
2020 Term Loan B3, 10/15/26(h) |
580 | 602,355 | ||||||||||
Cable One, Inc., 2021 Term Loan B4, (1-mo. LIBOR US + 2.00%), 7.19%, 05/03/28 |
300 | 293,583 |
Security | Par (000) |
Value | ||||||||||
Media (continued) |
||||||||||||
Charter Communications Operating LLC, Class A, 2019 Term Loan B1, (3-mo. CME Term SOFR + 1.75%), 6.80%, 04/30/25 |
USD | 1,595 | $ | 1,593,623 | ||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3-mo. LIBOR US + 3.50%), 8.81%, 08/21/26 |
2,098 | 2,000,355 | ||||||||||
CMG Media Corp., 2021 Term Loan, (3-mo. CME Term SOFR + 3.50%), 8.84%, 12/17/26 |
— | (i) | 128 | |||||||||
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.72%, 09/01/28 |
980 | 971,412 | ||||||||||
CSC Holdings LLC |
||||||||||||
2017 Term Loan B1, (1-mo. LIBOR US + 2.25%), 7.44%, 07/17/25 |
936 | 900,114 | ||||||||||
2019 Term Loan B5, (1-mo. LIBOR US + 2.50%), 7.69%, 04/15/27 |
893 | 777,631 | ||||||||||
DirecTV Financing LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 5.00%), 10.22%, 08/02/27 |
1,390 | 1,357,073 | ||||||||||
E.W. Scripps Co., 2020 Term Loan B3, (1-mo. CME Term SOFR at 0.75% Floor + 2.75%), 7.97%, 01/07/28 |
336 | 325,831 | ||||||||||
ECL Entertainment LLC, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 7.50%), 12.72%, 05/01/28 |
561 | 562,944 | ||||||||||
Learfield Communications LLC, 2016 1st Lien Term Loan, (3-mo. LIBOR US at 1.00% Floor + 3.25%), 8.77%, 12/01/23 |
535 | 413,490 | ||||||||||
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1-mo. CME Term SOFR + 2.50%), 7.72%, 09/18/26 |
489 | 488,145 | ||||||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (1-mo. CME Term SOFR + 3.75%), 8.95%, 04/21/29(d) |
1,113 | 837,352 | ||||||||||
Voyage Digital Ltd., USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.36%, 05/11/29(d) |
622 | 618,611 | ||||||||||
Ziggo Financing Partnership, USD Term Loan I, (1-mo. LIBOR US + 2.50%), 7.69%, 04/30/28 |
1,003 | 986,521 | ||||||||||
|
|
|||||||||||
13,329,528 | ||||||||||||
Oil, Gas & Consumable Fuels — 1.4% |
||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 8.75%, 12/21/28 |
2,266 | 2,216,527 | ||||||||||
M6 ETX Holdings II Midco LLC, Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.68%, 09/19/29 |
164 | 162,228 | ||||||||||
Medallion Midland Acquisition LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.25%, 10/18/28 |
1,182 | 1,171,067 | ||||||||||
Murphy USA, Inc., Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 1.75%), 6.92%, 01/31/28 |
392 | 392,165 | ||||||||||
|
|
|||||||||||
3,941,987 | ||||||||||||
Passenger Airlines — 2.8% |
||||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.00%, 04/20/28 |
1,009 | 1,029,382 | ||||||||||
Air Canada, 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.50%), 8.84%, 08/11/28 |
1,249 | 1,246,704 | ||||||||||
American Airlines, Inc. |
||||||||||||
2017 1st Lien Term Loan, (3-mo. CME Term SOFR + 1.75%), 7.00%, 01/29/27 |
167 | 162,867 | ||||||||||
2023 Term Loan B, (6-mo. CME Term SOFR + 2.75%), 8.15%, 02/15/28 |
1,485 | 1,456,325 | ||||||||||
Kestrel Bidco, Inc., Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor + 3.00%), 8.25%, 12/11/26 |
505 | 489,041 |
S C H E D U L E O F I N V E S T M E N T S |
121 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Passenger Airlines (continued) |
||||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3-mo. LIBOR US at 1.00% Floor + 5.25%), 10.76%, 06/21/27 |
USD | 1,588 | $ | 1,647,865 | ||||||||
United Airlines, Inc., 2021 Term Loan B, (3-mo. LIBOR US at 0.75% Floor + 3.75%), 9.29%, 04/21/28 |
1,799 | 1,795,270 | ||||||||||
|
|
|||||||||||
7,827,454 | ||||||||||||
Personal Care Products — 1.3% |
||||||||||||
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3-mo. CME Term SOFR at 0.75% Floor + 3.75%), 9.09%, 10/01/26 |
3,719 | 3,694,843 | ||||||||||
|
|
|||||||||||
Pharmaceuticals — 2.0% |
||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1-mo. CME Term SOFR + 3.50%), 8.72%, 05/04/25 |
743 | 714,935 | ||||||||||
Amynta Agency Borrower, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR + 5.00%), 10.20%, 02/28/28 |
526 | 510,551 | ||||||||||
Bausch Health Cos., Inc., 2022 Term Loan B, (3‑mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.43%, 02/01/27 |
683 | 513,784 | ||||||||||
Elanco Animal Health, Inc., Term Loan B, (1-mo. CME Term SOFR + 1.75%), 7.01%, 08/01/27 |
931 | 912,902 | ||||||||||
Jazz Financing Lux SARL, USD Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.69%, 05/05/28 |
1,245 | 1,242,462 | ||||||||||
Organon & Co., USD Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.00%), 8.25%, 06/02/28 |
866 | 864,794 | ||||||||||
Precision Medicine Group LLC, 2021 Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 3.00%), 8.34%, 11/18/27(d) |
756 | 724,264 | ||||||||||
Prestige Brands, Inc., 2021 Term Loan B5, (1-mo. LIBOR US at 0.50% Floor + 2.00%), 7.19%, 07/03/28 |
95 | 94,951 | ||||||||||
|
|
|||||||||||
5,578,643 | ||||||||||||
Professional Services — 4.6% |
||||||||||||
AlixPartners LLP, 2021 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.50%), 7.72%, 02/04/28 |
1,062 | 1,058,912 | ||||||||||
CoreLogic, Inc. |
||||||||||||
2nd Lien Term Loan, (1-mo. LIBOR US at 0.50% Floor + 6.50%), 11.75%, 06/04/29 |
873 | 700,903 | ||||||||||
Term Loan, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.75%, 06/02/28 |
2,069 | 1,864,768 | ||||||||||
Dun & Bradstreet Corp. |
||||||||||||
2022 Incremental Term Loan B2, (1-mo. CME Term SOFR + 3.25%), 8.33%, 01/18/29 |
437 | 435,822 | ||||||||||
Term Loan, (1-mo. CME Term SOFR + 3.25%), 8.43%, 02/06/26 |
1,432 | 1,432,085 | ||||||||||
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%), 9.59%, 07/06/29 |
373 | 364,689 | ||||||||||
2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.59%, 07/06/29 |
808 | 790,160 | ||||||||||
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1-mo. CME Term SOFR + 1.75%), 6.95%, 04/28/28 |
1,245 | 1,234,133 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.75%), 9.85%, 04/29/29(d) |
1,235 | 1,157,503 | ||||||||||
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1-mo. LIBOR US + 3.75%), 8.94%, 07/11/25 |
627 | 625,887 | ||||||||||
Trans Union LLC |
||||||||||||
2019 Term Loan B5, (1-mo. CME Term SOFR + 1.75%), 6.95%, 11/16/26 |
1,137 | 1,132,471 |
Security | Par (000) |
Value | ||||||||||
Professional Services (continued) |
||||||||||||
Trans Union LLC (continued) |
||||||||||||
2021 Term Loan B6, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.47%, 12/01/28 |
USD | 1,383 | $ | 1,378,376 | ||||||||
VS Buyer LLC, Term Loan B, (1-mo. CME Term SOFR + 3.25%), 8.52%, 02/28/27 |
1,017 | 999,465 | ||||||||||
|
|
|||||||||||
13,175,174 | ||||||||||||
Real Estate Management & Development — 0.5% |
| |||||||||||
Cushman & Wakefield U.S. Borrower LLC |
||||||||||||
2020 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.97%, 08/21/25 |
460 | 455,154 | ||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 01/31/30(d) |
1,125 | 1,088,556 | ||||||||||
|
|
|||||||||||
1,543,710 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.4% |
| |||||||||||
MKS Instruments, Inc., 2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.94%, 08/17/29 |
710 | 709,638 | ||||||||||
Synaptics, Inc., Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.74%, 12/02/28 |
384 | 378,587 | ||||||||||
|
|
|||||||||||
1,088,225 | ||||||||||||
Software — 13.5% |
||||||||||||
Applied Systems, Inc. |
||||||||||||
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 6.75%), 11.99%, 09/17/27 |
439 | 438,728 | ||||||||||
2022 Extended 1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.74%, 09/18/26 |
469 | 469,829 | ||||||||||
Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.55%, 08/15/29 |
471 | 453,339 | ||||||||||
Boxer Parent Co., Inc., 2021 USD Term Loan, (1-mo. CME Term SOFR + 3.75%), 8.97%, 10/02/25 |
1,244 | 1,233,100 | ||||||||||
CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), 7.33%, 09/21/28 |
1,032 | 1,028,409 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.49%, 07/06/29 |
848 | 844,807 | ||||||||||
Cloud Software Group, Inc., 2022 USD Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), 9.84%, 03/30/29 |
2,826 | 2,638,700 | ||||||||||
Cloudera, Inc. |
||||||||||||
2021 Second Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 6.00%), 11.08%, 10/08/29(d) |
482 | 433,800 | ||||||||||
2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.95%, 10/08/28 |
527 | 513,113 | ||||||||||
Cornerstone OnDemand, Inc., 2021 Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.25%, 10/16/28 |
733 | 681,896 | ||||||||||
Delta TopCo, Inc., 2020 2nd Lien Term Loan, (6-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.57%, 12/01/28 |
237 | 215,473 | ||||||||||
E2open LLC, 2020 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 8.76%, 02/04/28 |
175 | 173,863 | ||||||||||
Genesys Cloud Services Holdings II LLC, 2020 USD Term Loan B4, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.19%, 12/01/27 |
2,015 | 2,007,561 | ||||||||||
Informatica LLC, 2021 USD Term Loan B, (1-mo. LIBOR US + 2.75%), 8.00%, 10/27/28 |
1,886 | 1,879,775 | ||||||||||
Instructure Holdings, Inc., 2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 2.75%), 7.85%, 10/30/28 |
447 | 447,060 |
122 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Software (continued) |
||||||||||||
Magenta Buyer LLC |
||||||||||||
2021 USD 1st Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 4.75%), 10.03%, 07/27/28 |
USD | 1,484 | $ | 1,112,680 | ||||||||
2021 USD 2nd Lien Term Loan, (3-mo. LIBOR US at 0.75% Floor + 8.25%), 13.53%, 07/27/29 |
1,359 | 876,218 | ||||||||||
McAfee Corp., 2022 USD Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 9.01%, 03/01/29 |
2,132 | 2,035,604 | ||||||||||
MH Sub I LLC |
||||||||||||
2021 2nd Lien Term Loan, (1-mo. CME Term SOFR + 6.25%), 11.35%, 02/23/29 |
1,249 | 1,082,559 | ||||||||||
2023 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.25%), 9.35%, 05/03/28 |
4,655 | 4,459,586 | ||||||||||
NortonLifeLock, Inc., 2022 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), 7.20%, 09/12/29 |
997 | 991,790 | ||||||||||
Planview Parent, Inc., 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + 7.25%), 12.59%, 12/18/28 |
572 | 503,360 | ||||||||||
Proofpoint, Inc. |
||||||||||||
1st Lien Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.47%, 08/31/28 |
1,720 | 1,680,808 | ||||||||||
2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 6.25%), 11.47%, 08/31/29 |
895 | 865,913 | ||||||||||
RealPage, Inc. |
||||||||||||
1st Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), 8.22%, 04/24/28 |
3,851 | 3,763,649 | ||||||||||
2nd Lien Term Loan, (1-mo. LIBOR US at 0.75% Floor + 6.50%), 11.69%, 04/23/29 |
1,825 | 1,762,743 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (3‑mo. CME Term SOFR + 3.00%), 8.05%, 08/01/25 |
762 | 760,921 | ||||||||||
Sophia LP |
||||||||||||
2020 2nd Lien Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + 8.00%), 13.20%, 10/09/28 |
1,708 | 1,699,460 | ||||||||||
2021 Term Loan B, (3-mo. LIBOR US at 0.50% Floor + 3.50%), 9.04%, 10/07/27 |
1,341 | 1,324,799 | ||||||||||
UKG, Inc., 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at 0.50% Floor + 5.25%), 10.27%, 05/03/27 |
865 | 836,657 | ||||||||||
Ultimate Software Group, Inc., Term Loan B, (3-mo. CME Term SOFR + 3.75%), 8.90%, 05/04/26 |
1,001 | 986,292 | ||||||||||
Voyage Australia Pty. Ltd., USD Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.81%, 07/20/28 |
201 | 197,798 | ||||||||||
ZoomInfo LLC, 2023 Term Loan B, (1-mo. CME Term SOFR + 2.75%), 7.95%, 02/28/30 |
134 | 134,074 | ||||||||||
|
|
|||||||||||
38,534,364 | ||||||||||||
Specialty Retail — 2.8% |
||||||||||||
CD&R Firefly Bidco Ltd., 2023 GBP Term Loan B5, (1-day SONIA + 6.00%), 10.28%, 06/21/28 |
GBP | 1,000 | 1,226,667 | |||||||||
EG America LLC, 2018 USD Term Loan, (1-mo. CME Term SOFR + 4.00%), 9.16%, 02/07/25 |
USD | 882 | 866,104 | |||||||||
EG Group Ltd., 2021 Term Loan, (1-mo. CME Term SOFR + 4.25%), 9.41%, 03/31/26 |
349 | 346,332 |
Security | Par (000) |
Value | ||||||||||
Specialty Retail (continued) |
||||||||||||
Mavis Tire Express Services Corp., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 4.00%), 9.22%, 05/04/28 |
USD | 1,839 | $ | 1,820,095 | ||||||||
PetSmart, Inc., 2021 Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.95%, 02/11/28 |
2,261 | 2,253,255 | ||||||||||
Pilot Travel Centers LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + 2.00%), 7.20%, 08/04/28 |
698 | 696,116 | ||||||||||
Restoration Hardware, Inc., 2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 3.25%), 8.45%, 10/20/28 |
531 | 511,739 | ||||||||||
RVR Dealership Holdings LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.97%, 02/08/28 |
148 | 137,896 | ||||||||||
|
|
|||||||||||
7,858,204 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.1% |
| |||||||||||
Electronics for Imaging, Inc., Term Loan, (1-mo. LIBOR US + 5.00%), 10.21%, 07/23/26 |
492 | 332,081 | ||||||||||
|
|
|||||||||||
Textiles, Apparel & Luxury Goods — 0.3% |
| |||||||||||
Crocs, Inc., Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), 8.70%, 02/20/29 |
599 | 600,040 | ||||||||||
Hanesbrands, Inc., 2023 Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), 8.85%, 03/08/30(d) |
320 | 320,998 | ||||||||||
|
|
|||||||||||
921,038 | ||||||||||||
Trading Companies & Distributors — 2.6% |
||||||||||||
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1-mo. LIBOR US + 2.25%), 7.44%, 05/19/28 |
841 | 838,335 | ||||||||||
Core & Main LP, 2021 Term Loan B, (1-mo. CME Term SOFR + 2.50%), 7.69%, 07/27/28 |
2,515 | 2,498,213 | ||||||||||
SRS Distribution, Inc. |
||||||||||||
2021 Term Loan B, (1-mo. LIBOR US at 0.50% Floor + 3.50%), 8.69%, 06/02/28 |
1,702 | 1,650,826 | ||||||||||
2022 Incremental Term Loan, (1-mo. CME Term SOFR + 3.50%), 8.70%, 06/02/28 |
608 | 592,213 | ||||||||||
TMK Hawk Parent Corp.(d) |
||||||||||||
2020 Super Priority First Out Term Loan A, (3-mo. LIBOR US at 1.00% Floor + 9.50%), 15.00%, 05/30/24 |
597 | 587,898 | ||||||||||
2020 Super Priority Second Out Term Loan B, (3-mo. LIBOR US at 1.00% Floor + 3.50%), 9.00%, 08/28/24 |
1,881 | 1,137,956 | ||||||||||
|
|
|||||||||||
7,305,441 | ||||||||||||
Transportation Infrastructure — 0.6% |
||||||||||||
Apple Bidco LLC, 2022 Incremental Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 4.00%), 9.10%, 09/22/28 |
457 | 453,997 | ||||||||||
KKR Apple Bidco LLC, 2021 Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), 7.97%, 09/23/28 |
573 | 567,813 | ||||||||||
OLA Netherlands BV, Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + 6.25%), 11.43%, 12/15/26 |
521 | 487,143 | ||||||||||
Rand Parent LLC, 2023 Term Loan B, (3-mo. CME Term SOFR + 4.25%), 9.49%, 03/17/30 |
151 | 141,208 | ||||||||||
|
|
|||||||||||
1,650,161 |
S C H E D U L E O F I N V E S T M E N T S |
123 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security | Par (000) |
Value | ||||||||||
Wireless Telecommunication Services — 1.1% |
| |||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1-mo. LIBOR US + 3.25%), 8.98%, 05/28/24 |
USD 503 | $ | 459,992 | |||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor + 3.75%), 8.97%, 04/30/28 |
576 | 574,663 | ||||||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1-mo. LIBOR US + 1.75%), 6.95%, 04/11/25 |
2,042 | 2,041,801 | ||||||||||
|
|
|||||||||||
3,076,456 | ||||||||||||
|
|
|||||||||||
Total Floating Rate Loan Interests — 126.6% (Cost: $370,758,282) |
|
360,416,544 | ||||||||||
|
|
|||||||||||
Shares | ||||||||||||
Investment Companies |
| |||||||||||
Equity Funds — 0.1% |
|
|||||||||||
Janus Henderson AAA CLO ETF |
5,000 | 249,250 | ||||||||||
|
|
|||||||||||
Fixed Income Funds — 1.3% |
||||||||||||
Invesco Senior Loan ETF |
35,400 | 744,816 | ||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(j) |
40,000 | 3,002,800 | ||||||||||
|
|
|||||||||||
3,747,616 | ||||||||||||
|
|
|||||||||||
Total Investment Companies — 1.4% (Cost: $4,037,247) |
|
3,996,866 | ||||||||||
|
|
|||||||||||
Benefical Interest (000) |
||||||||||||
Other Interests |
|
|||||||||||
Capital Markets — 0.0% |
||||||||||||
Millennium Lender Claim Trust(d)(k) |
USD | 991 | — | |||||||||
|
|
|||||||||||
Industrial Conglomerates — 0.0% |
||||||||||||
Millennium Corp. Claim(d)(k) |
930 | — | ||||||||||
|
|
|||||||||||
Total Other Interests — 0.0% (Cost: $ — ) |
|
— | ||||||||||
|
|
Security | Shares |
Value | ||||||||||
Warrants |
||||||||||||
Consumer Discretionary — 0.0% |
||||||||||||
Service King (Carnelian Point), (Expires 06/30/27, Strike Price USD 10.00)(c) |
2,121 | $ | — | |||||||||
|
|
|||||||||||
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) |
617 | 7,318 | ||||||||||
|
|
|||||||||||
Total Warrants — 0.0% (Cost: $ — ) |
7,318 | |||||||||||
|
|
|||||||||||
Total Investments — 131.6% (Cost: $387,051,307) |
374,582,338 | |||||||||||
Liabilities in Excess of Other Assets — (31.6)% |
|
(89,977,830 | ) | |||||||||
|
|
|||||||||||
Net Assets — 100.0% |
$ | 284,604,508 | ||||||||||
|
|
(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 Trust held restricted securities with a current value of $0, representing 0.00% of its net assets as of period end, and an original cost of $0. |
(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 Trust. |
(k) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
Affiliated Issuer | Value at 12/31/22 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 06/30/23 |
Shares Held at 06/30/23 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds, T‑Fund, Institutional Class(a) |
$ | — | $ | 12,656,394 | $ | (12,656,394 | ) | $ | — | $ | — | $ | — | — | $ | 4,218 | $ | — | ||||||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF |
368,150 | 4,935,440 | (2,253,995 | ) | (24,805 | ) | (21,990 | ) | 3,002,800 | 40,000 | 76,203 | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (24,805 | ) | $ | (21,990 | ) | $ | 3,002,800 | $ | 80,421 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | As of period end, the entity is no longer held. |
124 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) |
||||||||||||||||||
USD | 1,904,201 | GBP | 1,485,000 | BNP Paribas SA | 09/20/23 | $ | 17,850 | |||||||||||||||
|
|
Reference Obligation/Index | |
Financing Rate Received by the Trust |
|
|
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 2,757 | $ | 92,759 | $ | (38,896 | ) | $ | 131,655 | |||||||||||||||||||
|
|
|
|
|
|
(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 Trust may pay should a negative credit event take place as defined under the terms of the agreement. |
Description | Swap Premiums Paid |
Swap Premiums Received |
Unrealized Appreciation |
Unrealized Depreciation |
||||||||||||
Centrally Cleared Swaps(a) |
$ | — | $ | (38,896 | ) | $ | 131,655 | $ | — |
(a) | Includes cumulative appreciation (depreciation) on centrally cleared swaps, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statements of Assets and Liabilities and is net of any previously paid (received) swap premium amounts. |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Assets — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on forward foreign currency exchange contracts |
$ | — | $ | — | $ | — | $ | 17,850 | $ | — | $ | — | $ | 17,850 | ||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized appreciation on centrally cleared swaps(a) |
— | 131,655 | — | — | — | — | 131,655 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 131,655 | $ | — | $ | 17,850 | $ | — | $ | — | $ | 149,505 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: |
||||||||||||||||||||||||||||
Forward foreign currency exchange contracts |
$ | — | $ | — | $ | — | $ | (78,608 | ) | $ | — | $ | — | $ | (78,608 | ) | ||||||||||||
Swaps |
— | 74,056 | — | — | — | — | 74,056 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 74,056 | $ | — | $ | (78,608 | ) | $ | — | $ | — | $ | (4,552 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: |
|
|||||||||||||||||||||||||||
Forward foreign currency exchange contracts |
$ | — | $ | — | $ | — | $ | 1,090 | $ | — | $ | — | $ | 1,090 | ||||||||||||||
Swaps |
— | 88,183 | — | — | — | — | 88,183 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 88,183 | $ | — | $ | 1,090 | $ | — | $ | — | $ | 89,273 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
S C H E D U L E O F I N V E S T M E N T S |
125 |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) |
Forward foreign currency exchange contracts: |
||||
Average amounts purchased — in USD |
$ | 1,889,579 | ||
Credit default swaps: |
||||
Average notional value — sell protection |
$ | 2,771,075 |
Assets | Liabilities | |||||||
Derivative Financial Instruments |
||||||||
Forward foreign currency exchange contracts |
$ | 17,850 | $ | — | ||||
Swaps — centrally cleared |
20,014 | — | ||||||
|
|
|
|
|||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities |
37,864 | — | ||||||
|
|
|
|
|||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) |
(20,014 | ) | — | |||||
|
|
|
|
|||||
Total derivative assets and liabilities subject to an MNA |
$ | 17,850 | $ | — | ||||
|
|
|
|
Counterparty | |
Derivative Assets Subject to an MNA by Counterparty |
|
|
Derivatives Available for Offset |
|
|
Non-Cash Collateral Received |
|
|
Cash Collateral Received |
|
|
Net Amount of Derivative Assets |
(a)(b) | |||||
BNP Paribas SA |
$ | 17,850 | $ | — | $ | — | $ | — | $ | 17,850 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized. |
(b) | Net amount represents the net amount receivable from the counterparty in the event of default. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Asset-Backed Securities |
$ | — | $ | 3,999,999 | $ | — | $ | 3,999,999 | ||||||||
Common Stocks |
||||||||||||||||
Automobile Components |
25,552 | — | — | 25,552 | ||||||||||||
Construction & Engineering |
— | 13,796 | — | 13,796 | ||||||||||||
Energy Equipment & Services |
— | — | — | — | ||||||||||||
Financial Services |
— | 273,553 | — | 273,553 | ||||||||||||
Household Products |
— | — | — | — | ||||||||||||
Industrial Conglomerates |
— | 8 | — | 8 | ||||||||||||
Corporate Bonds |
— | 5,848,702 | — | 5,848,702 | ||||||||||||
Floating Rate Loan Interests |
— | 345,226,796 | 15,189,748 | 360,416,544 | ||||||||||||
Investment Companies |
3,996,866 | — | — | 3,996,866 | ||||||||||||
Other Interests |
— | — | — | — | ||||||||||||
Warrants |
7,318 | — | — | 7,318 | ||||||||||||
Liabilities |
||||||||||||||||
Unfunded Floating Rate Loan Interests(a) |
— | (13,459 | ) | — | (13,459 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 4,029,736 | $ | 355,349,395 | $ | 15,189,748 | $ | 374,568,879 | |||||||||
|
|
|
|
|
|
|
|
126 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2023 |
BlackRock Floating Rate Income Trust (BGT) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative Financial Instruments(b) |
||||||||||||||||
Assets |
||||||||||||||||
Credit Contracts |
$ | — | $ | 131,655 | $ | — | $ | 131,655 | ||||||||
Foreign Currency Exchange Contracts |
— | 17,850 | — | 17,850 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | — | $ | 149,505 | $ | — | $ | 149,505 | |||||||||
|
|
|
|
|
|
|
|
(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. |
Common Stocks |
Corporate Bonds |
Floating Rate Loan Interests |
Other Interests |
Total | ||||||||||||||||
Assets |
||||||||||||||||||||
Opening balance, as of December 31, 2022 |
$ | 822 | $ | — | (a) | $ | 7,962,927 | $ | — | (a) | $ | 7,963,749 | ||||||||
Transfers into Level 3(b) |
— | — | 6,960,893 | — | 6,960,893 | |||||||||||||||
Transfers out of Level 3(c) |
— | — | (1,537,208 | ) | — | (1,537,208 | ) | |||||||||||||
Accrued discounts/premiums |
— | — | 141,598 | — | 141,598 | |||||||||||||||
Net realized gain (loss) |
(130,652 | ) | — | (15,721 | ) | — | (146,373 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation)(d)(e) |
130,334 | — | 206,067 | — | 336,401 | |||||||||||||||
Purchases |
— | — | 3,113,618 | — | 3,113,618 | |||||||||||||||
Sales |
(504 | ) | — | (1,642,426 | ) | — | (1,642,930 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Closing balance, as of June 30, 2023 |
$ | — | $ | — | (a) | $ | 15,189,748 | $ | — | (a) | $ | 15,189,748 | ||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2023(e) |
$ | — | $ | — | $ | 176,048 | $ | — | $ | 176,048 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Rounds to less than $1. |
(b) | As of December 31, 2022, the Trust used observable inputs in determining the value of certain investments. As of June 30, 2023, the Trust 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 Trust used significant unobservable inputs in determining the value of certain investments. As of June 30, 2023, the Trust 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) | Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations. |
(e) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2023 is generally due to investments no longer held or categorized as Level 3 at period end. |
S C H E D U L E O F I N V E S T M E N T S |
127 |
BHK | HYT(a) | BTZ | BGT | |||||||||||||
ASSETS |
||||||||||||||||
Investments, at value — unaffiliated(b) |
$ | 915,669,972 | $ | 1,881,519,130 | $ | 1,770,136,879 | $ | 371,579,538 | ||||||||
Investments, at value — affiliated(c) |
— | — | 7,466,683 | 3,002,800 | ||||||||||||
Cash |
— | 1,936,183 | — | 446,093 | ||||||||||||
Cash pledged: |
||||||||||||||||
Collateral — reverse repurchase agreements |
2,132,207 | — | 2,492,624 | — | ||||||||||||
Collateral — exchange-traded options written |
— | — | 7,820,000 | — | ||||||||||||
Collateral — OTC derivatives |
1,379,000 | — | — | — | ||||||||||||
Futures contracts |
3,915,000 | 216,000 | 7,043,000 | — | ||||||||||||
Centrally cleared swaps |
1,309,000 | 1,578,000 | 6,770,000 | 245,000 | ||||||||||||
Foreign currency, at value(d) |
61,065 | 132,125 | 553,256 | — | ||||||||||||
Receivables: |
||||||||||||||||
Investments sold |
2,307,109 | 3,471,669 | 1,748,713 | 2,392,428 | ||||||||||||
Reverse repurchase agreements |
9,026,623 | — | 3,468,847 | — | ||||||||||||
TBA sale commitments |
15,070,294 | — | 78,109,642 | — | ||||||||||||
Dividends — unaffiliated |
24,339 | — | — | — | ||||||||||||
Dividends — affiliated |
34,881 | 6,483 | 33,562 | 46 | ||||||||||||
Interest — unaffiliated |
10,131,591 | 29,299,767 | 23,414,704 | 2,426,461 | ||||||||||||
Variation margin on futures contracts |
816,484 | — | 156,499 | — | ||||||||||||
Variation margin on centrally cleared swaps |
— | 112,936 | — | 20,014 | ||||||||||||
Swap premiums paid |
3,340 | 32,903 | — | — | ||||||||||||
Unrealized appreciation on: |
||||||||||||||||
Forward foreign currency exchange contracts |
17,250 | 103,226 | 3,908 | 17,850 | ||||||||||||
OTC swaps |
7,692 | 337,356 | — | — | ||||||||||||
Unfunded floating rate loan interests |
719 | — | — | — | ||||||||||||
Deferred offering costs |
147,699 | 186,982 | — | 231,751 | ||||||||||||
Other assets |
— | 250,000 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
962,054,265 | 1,919,182,760 | 1,909,218,317 | 380,361,981 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
LIABILITIES |
||||||||||||||||
Bank overdraft |
2,500,395 | — | 184,112 | — | ||||||||||||
Foreign bank overdraft(e) |
— | — | — | 136,081 | ||||||||||||
Due to broker |
— | — | 552,038 | — | ||||||||||||
Cash received as collateral for reverse repurchase agreements |
69,000 | — | — | — | ||||||||||||
Options written, at value(f) |
— | 87,588 | 280,459 | — | ||||||||||||
TBA sale commitments, at value(g) |
14,995,820 | — | 77,623,941 | — | ||||||||||||
Reverse repurchase agreements, at value |
305,139,899 | — | 618,555,134 | — | ||||||||||||
Payables: |
||||||||||||||||
Investments purchased |
45,185,850 | 22,475,516 | 155,567,421 | 3,272,016 | ||||||||||||
Reverse repurchase agreements |
920,811 | — | 2,372,655 | — | ||||||||||||
Swaps |
— | 13,159 | — | — | ||||||||||||
Accounting services fees |
56,952 | 82,674 | 77,836 | 27,411 | ||||||||||||
Bank borrowings |
— | 551,000,000 | — | 91,000,000 | ||||||||||||
Custodian fees |
21,946 | 24,775 | 35,001 | 9,568 | ||||||||||||
Income dividend distributions |
73,079 | 609,216 | 355,664 | 35,166 | ||||||||||||
Interest expense |
— | 2,595,131 | — | 475,353 | ||||||||||||
Investment advisory fees |
758,343 | 1,850,922 | 1,701,519 | 462,904 | ||||||||||||
Offering costs |
— | — | — | 41,452 | ||||||||||||
Trustees’ and Officer’s fees |
217,548 | 583,553 | 754,630 | 197,408 | ||||||||||||
Other accrued expenses |
55,418 | 154,190 | 87,016 | 17,730 | ||||||||||||
Professional fees |
61,554 | 56,541 | 52,546 | 49,136 | ||||||||||||
Reorganization costs |
— | — | 67,446 | — | ||||||||||||
Transfer agent fees |
35,524 | 53,795 | 46,671 | 19,789 | ||||||||||||
Variation margin on futures contracts |
160,404 | 42,103 | 1,575,034 | — | ||||||||||||
Variation margin on centrally cleared swaps |
11,407 | — | 812,546 | — | ||||||||||||
Swap premiums received |
896,500 | 249,122 | — | — | ||||||||||||
Unrealized depreciation on: |
||||||||||||||||
Forward foreign currency exchange contracts |
12,404 | 11,995 | — | — | ||||||||||||
OTC swaps |
488,558 | 36,031 | — | — | ||||||||||||
Unfunded floating rate loan interests |
— | 20,170 | 3,468 | 13,459 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities |
371,661,412 | 579,946,481 | 860,705,137 | 95,757,473 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Commitments and contingent liabilities |
||||||||||||||||
NET ASSETS |
$ | 590,392,853 | $ | 1,339,236,279 | $ | 1,048,513,180 | $ | 284,604,508 | ||||||||
|
|
|
|
|
|
|
|
128 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
BHK | HYT(a) | BTZ | BGT | |||||||||||||
NET ASSETS CONSIST OF |
||||||||||||||||
Paid-in capital(h)(i)(j) |
$ | 754,580,785 | $ | 1,686,432,389 | $ | 1,232,128,209 | $ | 328,106,361 | ||||||||
Accumulated loss |
(164,187,932 | ) | (347,196,110 | ) | (183,615,029 | ) | (43,501,853 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS |
$ | 590,392,853 | $ | 1,339,236,279 | $ | 1,048,513,180 | $ | 284,604,508 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net asset value(h)(i)(j) |
$ | 10.93 | $ | 9.38 | $ | 11.21 | $ | 12.75 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
(a) Consolidated Statement of Assets and Liabilities. |
||||||||||||||||
(b) Investments, at cost — unaffiliated |
$ | 979,663,601 | $ | 1,968,472,303 | $ | 1,843,140,298 | $ | 384,034,898 | ||||||||
(c) Investments, at cost — affiliated |
$ | — | $ | — | $ | 7,466,683 | $ | 3,016,409 | ||||||||
(d) Foreign currency, at cost |
$ | 61,900 | $ | 132,124 | $ | 553,258 | $ | — | ||||||||
(e) Foreign bank overdraft, at cost |
$ | — | $ | — | $ | — | $ | 137,313 | ||||||||
(f) Premiums received |
$ | — | $ | 141,072 | $ | 755,964 | $ | — | ||||||||
(g) Proceeds from TBA sale commitments |
$ | 15,070,294 | $ | — | $ | 78,109,642 | $ | — | ||||||||
(h) Shares outstanding |
54,010,702 | 142,699,920 | 93,507,103 | |||||||||||||
(i) Shares authorized |
Unlimited | 200 million | Unlimited | Unlimited | ||||||||||||
(j) Par value |
$ | 0.001 | $ | 0.10 | $ | 0.001 | $ | 0.001 |
F I N A N C I A L S T A T E M E N T S |
129 |
BHK | HYT(a) | BTZ | BGT | |||||||||||||
|
||||||||||||||||
INVESTMENT INCOME |
||||||||||||||||
Dividends — unaffiliated |
$ | 89,037 | $ | 5,969 | $ | 1,119,866 | $ | 31,485 | ||||||||
Dividends — affiliated |
200,756 | 37,586 | 173,043 | 80,421 | ||||||||||||
Interest — unaffiliated |
25,349,379 | 67,139,088 | 49,732,746 | 16,870,234 | ||||||||||||
Other income — unaffiliated |
120,189 | 933,050 | 168,785 | 246,973 | ||||||||||||
Foreign taxes withheld |
(4,883 | ) | (7,525 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total investment income |
25,754,478 | 68,108,168 | 51,194,440 | 17,229,113 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
EXPENSES |
||||||||||||||||
Investment advisory |
2,330,974 | 5,534,088 | 5,082,904 | 1,375,215 | ||||||||||||
Accounting services |
64,508 | 98,839 | 88,931 | 32,336 | ||||||||||||
Professional |
54,236 | 57,066 | 41,081 | 55,388 | ||||||||||||
Transfer agent |
44,867 | 66,228 | 55,906 | 24,555 | ||||||||||||
Custodian |
41,138 | 29,033 | 46,037 | 11,254 | ||||||||||||
Trustees and Officer |
25,161 | 55,465 | 56,224 | 14,088 | ||||||||||||
Registration |
9,236 | 20,562 | 15,783 | 4,123 | ||||||||||||
Printing and postage |
6,340 | 7,428 | 1,403 | 4,708 | ||||||||||||
Miscellaneous |
68,525 | 40,308 | 35,185 | 7,185 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses excluding interest expense |
2,644,985 | 5,909,017 | 5,423,454 | 1,528,852 | ||||||||||||
Interest expense |
8,121,364 | 14,587,599 | 14,429,042 | 2,503,072 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses |
10,766,349 | 20,496,616 | 19,852,496 | 4,031,924 | ||||||||||||
Less: |
||||||||||||||||
Fees waived and/or reimbursed by the Manager |
(3,098 | ) | (671 | ) | (2,838 | ) | (10,241 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total expenses after fees waived and/or reimbursed |
10,763,251 | 20,495,945 | 19,849,658 | 4,021,683 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net investment income |
14,991,227 | 47,612,223 | 31,344,782 | 13,207,430 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||
Investments — unaffiliated |
(29,360,317 | ) | (68,254,219 | ) | (38,899,793 | ) | (1,478,692 | ) | ||||||||
Investments — affiliated |
— | — | — | (24,805 | ) | |||||||||||
Forward foreign currency exchange contracts |
(12,942 | ) | (305,526 | ) | (11,025 | ) | (78,608 | ) | ||||||||
Foreign currency transactions |
(24,917 | ) | (123,728 | ) | 5,336 | (37,124 | ) | |||||||||
Futures contracts |
(2,455,995 | ) | (2,170,873 | ) | (2,425,644 | ) | — | |||||||||
Options written |
— | 1,155,118 | 1,158,037 | — | ||||||||||||
Swaps |
4,730,198 | 360,485 | (5,417,183 | ) | 74,056 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
(27,123,973 | ) | (69,338,743 | ) | (45,590,272 | ) | (1,545,173 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
Investments — unaffiliated |
42,493,774 | 107,816,576 | 65,554,852 | 8,736,859 | ||||||||||||
Investments — affiliated |
— | — | — | (21,990 | ) | |||||||||||
Forward foreign currency exchange contracts |
16,441 | 157,845 | 3,908 | 1,090 | ||||||||||||
Foreign currency translations |
(3,542 | ) | (12,617 | ) | 180 | 26,670 | ||||||||||
Futures contracts |
1,483,328 | (683,800 | ) | (5,129,229 | ) | — | ||||||||||
Options written |
— | (85,337 | ) | 420,023 | — | |||||||||||
Swaps |
(5,375,263 | ) | 951,215 | 3,089,814 | 88,183 | |||||||||||
Unfunded floating rate loan interests |
14,735 | 73,248 | 4,558 | 33,364 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
38,629,473 | 108,217,130 | 63,944,106 | 8,864,176 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net realized and unrealized gain |
11,505,500 | 38,878,387 | 18,353,834 | 7,319,003 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | 26,496,727 | $ | 86,490,610 | $ | 49,698,616 | $ | 20,526,433 | ||||||||
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|
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(a) | Consolidated Statement of Operations. |
130 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
BHK | HYT(a) | |||||||||||||||
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|
|
|
|||||||||||||
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
|||||||||||||
|
||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||
OPERATIONS |
||||||||||||||||
Net investment income |
$ | 14,991,227 | $ | 34,621,610 | $ | 47,612,223 | $ | 85,310,028 | ||||||||
Net realized loss |
(27,123,973 | ) | (58,306,032 | ) | (69,338,743 | ) | (48,802,949 | ) | ||||||||
Net change in unrealized appreciation (depreciation) |
38,629,473 | (179,504,308 | ) | 108,217,130 | (243,082,240 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from operations |
26,496,727 | (203,188,730 | ) | 86,490,610 | (206,575,161 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
DISTRIBUTIONS TO SHAREHOLDERS(b) |
||||||||||||||||
From net investment income |
(24,175,190 | )(c) | (43,352,180 | ) | (66,697,943 | )(c) | (75,141,728 | ) | ||||||||
Return of capital |
— | (969,019 | ) | — | (32,825,998 | ) | ||||||||||
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|
|
|
|
|
|
|
|||||||||
Decrease in net assets resulting from distributions to shareholders |
(24,175,190 | ) | (44,321,199 | ) | (66,697,943 | ) | (107,967,726 | ) | ||||||||
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|
|||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
Proceeds from rights offering (Note 11) |
— | — | — | 167,749,786 | ||||||||||||
Reinvestment of distributions |
— | 267,474 | — | 1,065,866 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase in net assets derived from capital share transactions |
— | 267,474 | — | 168,815,652 | ||||||||||||
|
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|
|
|
|
|||||||||
NET ASSETS |
||||||||||||||||
Total increase (decrease) in net assets |
2,321,537 | (247,242,455 | ) | 19,792,667 | (145,727,235 | ) | ||||||||||
Beginning of period |
588,071,316 | 835,313,771 | 1,319,443,612 | 1,465,170,847 | ||||||||||||
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|
|
|
|||||||||
End of period |
$ | 590,392,853 | $ | 588,071,316 | $ | 1,339,236,279 | $ | 1,319,443,612 | ||||||||
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|
(a) | Consolidated Statement of Changes in Net Assets. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
F I N A N C I A L S T A T E M E N T S |
131 |
BTZ | BGT | |||||||||||||||
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|||||||||||||
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
|||||||||||||
|
||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||
OPERATIONS |
||||||||||||||||
Net investment income |
$ | 31,344,782 | $ | 72,207,568 | $ | 13,207,430 | $ | 18,263,413 | ||||||||
Net realized loss |
(45,590,272 | ) | (26,934,855 | ) | (1,545,173 | ) | (4,197,922 | ) | ||||||||
Net change in unrealized appreciation (depreciation) |
63,944,106 | (325,268,939 | ) | 8,864,176 | (20,011,741 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from operations |
49,698,616 | (279,996,226 | ) | 20,526,433 | (5,946,250 | ) | ||||||||||
|
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|
|||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||
From net investment income |
(47,071,475 | )(b) | (65,195,451 | ) | (13,274,960 | ) | (16,820,514 | ) | ||||||||
Return of capital |
— | (21,102,257 | ) | — | — | |||||||||||
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|
|
|
|
|
|
|||||||||
Decrease in net assets resulting from distributions to shareholders |
(47,071,475 | ) | (86,297,708 | ) | (13,274,960 | ) | (16,820,514 | ) | ||||||||
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|
|||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
Net proceeds from the issuance of shares |
— | 33,408 | — | — | ||||||||||||
Reinvestment of distributions |
— | — | — | 32,244 | ||||||||||||
Redemption of shares resulting from share repurchase program (including transaction costs) |
— | — | (624,592 | ) | — | |||||||||||
|
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|
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|
|||||||||
Net increase (decrease) in net assets derived from capital share transactions |
— | 33,408 | (624,592 | ) | 32,244 | |||||||||||
|
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|
|||||||||
NET ASSETS |
||||||||||||||||
Total increase (decrease) in net assets |
2,627,141 | (366,260,526 | ) | 6,626,881 | (22,734,520 | ) | ||||||||||
Beginning of period |
1,045,886,039 | 1,412,146,565 | 277,977,627 | 300,712,147 | ||||||||||||
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End of period |
$ | 1,048,513,180 | $ | 1,045,886,039 | $ | 284,604,508 | $ | 277,977,627 | ||||||||
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(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(b) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
132 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
BHK | HYT(a) | BTZ | BGT | |||||||||||||
|
||||||||||||||||
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES |
||||||||||||||||
Net increase in net assets resulting from operations |
$ | 26,496,727 | $ | 86,490,610 | $ | 49,698,616 | $ | 20,526,433 | ||||||||
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities: |
||||||||||||||||
Proceeds from sales of long-term investments and principal paydowns/payups |
755,522,190 | 727,781,121 | 1,571,845,892 | 54,361,930 | ||||||||||||
Purchases of long-term investments |
(630,657,766 | ) | (723,751,242 | ) | (1,564,197,824 | ) | (53,934,789 | ) | ||||||||
Net proceeds from sales (purchases) of short-term securities |
(31,110,079 | ) | (741,269 | ) | 659,284 | (11,708 | ) | |||||||||
Amortization of premium and accretion of discount on investments and other fees |
(785,996 | ) | (4,641,386 | ) | (205,332 | ) | (459,763 | ) | ||||||||
Paid-in-kind income |
— | — | — | (31,891 | ) | |||||||||||
Premiums paid on closing options written |
— | (576,565 | ) | (1,266,731 | ) | — | ||||||||||
Premiums received from options written |
— | 1,536,542 | 3,078,529 | — | ||||||||||||
Net realized loss on investments and options written |
29,371,016 | 67,099,101 | 37,741,756 | 1,503,497 | ||||||||||||
Net unrealized appreciation on investments, options written, swaps, foreign currency translations and unfunded floating rate loan interests |
(42,424,056 | ) | (108,406,740 | ) | (65,983,521 | ) | (8,775,993 | ) | ||||||||
(Increase) Decrease in Assets |
||||||||||||||||
Receivables |
||||||||||||||||
Dividends — affiliated |
(2,774 | ) | (522 | ) | 5,922 | 3,024 | ||||||||||
Interest — unaffiliated |
981,848 | (1,292,928 | ) | 279,430 | (641,148 | ) | ||||||||||
Variation margin on futures contracts |
(300,662 | ) | 351,742 | 919,985 | — | |||||||||||
Variation margin on centrally cleared swaps |
87,160 | (108,763 | ) | — | (20,014 | ) | ||||||||||
Swap premiums paid |
2,197 | 12,194 | — | — | ||||||||||||
Prepaid expenses |
4,538 | 11,128 | 8,629 | 2,324 | ||||||||||||
Other assets |
— | (250,000 | ) | — | — | |||||||||||
Deferred offering costs |
— | 1 | — | (118,383 | ) | |||||||||||
Increase (Decrease) in Liabilities |
||||||||||||||||
Due to broker |
(241,000 | ) | — | 133,553 | — | |||||||||||
Cash received |
||||||||||||||||
Collateral — reverse repurchase agreements |
(754,818 | ) | — | (15,478 | ) | — | ||||||||||
Payables |
||||||||||||||||
Swaps |
— | 13,159 | — | — | ||||||||||||
Accounting services fees |
9,703 | 19,760 | 15,379 | 5,661 | ||||||||||||
Custodian fees |
10,251 | 1,239 | 8,787 | (3,577 | ) | |||||||||||
Interest expense |
(410,126 | ) | 265,046 | 379,352 | 39,975 | |||||||||||
Investment advisory fees |
337,616 | 895,958 | 835,725 | 224,158 | ||||||||||||
Trustees’ and Officer’s fees |
7,570 | (24,257 | ) | (35,260 | ) | (11,748 | ) | |||||||||
Other accrued expenses |
(16,540 | ) | (2,759 | ) | (42,016 | ) | (2,985 | ) | ||||||||
Professional fees |
(51,372 | ) | (99,762 | ) | (39,644 | ) | (43,327 | ) | ||||||||
Reorganization costs |
— | — | 67,446 | — | ||||||||||||
Transfer agent fees |
3,673 | 7,402 | 2,945 | 6,058 | ||||||||||||
Variation margin on futures contracts |
(662,957 | ) | 42,103 | 1,056,617 | — | |||||||||||
Variation margin on centrally cleared swaps |
11,407 | — | (4,244,389 | ) | (26 | ) | ||||||||||
Swap premiums received |
(433,078 | ) | 8,648 | — | — | |||||||||||
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|
|
|
|
|
|
|
|||||||||
Net cash provided by operating activities |
104,994,672 | 44,639,561 | 30,707,652 | 12,617,708 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES |
||||||||||||||||
Cash dividends paid to shareholders |
(24,102,111 | ) | (66,088,727 | ) | (46,715,811 | ) | (13,239,794 | ) | ||||||||
Payments for offering costs |
— | — | — | 41,452 | ||||||||||||
Payments for bank borrowings |
— | (282,000,000 | ) | — | (41,000,000 | ) | ||||||||||
Net payments on redemption of capital shares |
— | — | — | (624,592 | ) | |||||||||||
Proceeds from bank borrowings |
— | 304,000,000 | — | 41,000,000 | ||||||||||||
Increase in bank overdraft |
2,500,395 | — | 184,112 | 76,215 | ||||||||||||
Net borrowing of reverse repurchase agreements |
(89,774,897 | ) | — | 23,042,036 | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net cash used for financing activities |
(111,376,613 | ) | (44,088,727 | ) | (23,489,663 | ) | (13,746,719 | ) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
CASH IMPACT FROM FOREIGN EXCHANGE FLUCTUATIONS |
||||||||||||||||
Cash impact from foreign exchange fluctuations |
(1,306 | ) | 8 | (2 | ) | — | ||||||||||
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|
|
F I N A N C I A L S T A T E M E N T S |
133 |
BHK | HYT(a) | BTZ | BGT | |||||||||||||
|
||||||||||||||||
CASH AND FOREIGN CURRENCY |
||||||||||||||||
Net increase (decrease) in restricted and unrestricted cash and foreign currency |
$ | (6,383,247 | ) | $ | 550,842 | $ | 7,217,987 | $ | (1,129,011 | ) | ||||||
Restricted and unrestricted cash and foreign currency at beginning of period |
15,179,519 | 3,311,466 | 17,460,893 | 1,820,104 | ||||||||||||
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|
|
|||||||||
Restricted and unrestricted cash and foreign currency at end of period |
$ | 8,796,272 | $ | 3,862,308 | $ | 24,678,880 | $ | 691,093 | ||||||||
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|
|||||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION |
||||||||||||||||
Cash paid during the period for interest expense |
$ | 8,531,490 | $ | 14,322,553 | $ | 14,049,690 | $ | 2,463,097 | ||||||||
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|
|||||||||
RECONCILIATION OF RESTRICTED AND UNRESTRICTED CASH AND FOREIGN CURRENCY AT THE END OF PERIOD TO THE STATEMENTS OF ASSETS AND LIABILITIES |
||||||||||||||||
Cash |
$ | — | $ | 1,936,183 | $ | — | $ | 446,093 | ||||||||
Cash pledged |
||||||||||||||||
Collateral — reverse repurchase agreements |
2,132,207 | — | 2,492,624 | — | ||||||||||||
Collateral — exchange-traded options written |
— | — | 7,820,000 | — | ||||||||||||
Collateral — OTC derivatives |
1,379,000 | — | — | — | ||||||||||||
Futures contracts |
3,915,000 | 216,000 | 7,043,000 | — | ||||||||||||
Centrally cleared swaps |
1,309,000 | 1,578,000 | 6,770,000 | 245,000 | ||||||||||||
Foreign currency at value |
61,065 | 132,125 | 553,256 | — | ||||||||||||
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|
|||||||||
$ | 8,796,272 | $ | 3,862,308 | $ | 24,678,880 | $ | 691,093 | |||||||||
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|
(a) | Consolidated Statement of Cash Flows. |
134 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
BHK | ||||||||||||||||||||||||||||||||
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Period from 09/01/19 to 12/31/19 |
Year Ended 08/31/19 |
Year Ended 08/31/18 |
||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 10.89 | $ | 15.47 | $ | 16.45 | $ | 15.32 | $ | 15.79 | $ | 14.08 | $ | 14.96 | ||||||||||||||||||
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|
|||||||||||||||||||
Net investment income(a) |
0.28 | 0.64 | 0.72 | 0.72 | 0.22 | 0.66 | 0.72 | |||||||||||||||||||||||||
Net realized and unrealized gain (loss) |
0.21 | (4.40 | ) | (0.65 | ) | 1.24 | (0.36 | ) | 1.82 | (0.82 | ) | |||||||||||||||||||||
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|
|||||||||||||||||||
Net increase (decrease) from investment operations |
0.49 | (3.76 | ) | 0.07 | 1.96 | (0.14 | ) | 2.48 | (0.10 | ) | ||||||||||||||||||||||
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|
|||||||||||||||||||
Distributions(b) |
||||||||||||||||||||||||||||||||
From net investment income |
(0.45 | )(c) | (0.69 | ) | (0.80 | ) | (0.64 | ) | (0.27 | ) | (0.73 | ) | (0.78 | ) | ||||||||||||||||||
From net realized gain |
— | (0.11 | ) | (0.25 | ) | (0.19 | ) | (0.04 | ) | (0.04 | ) | — | ||||||||||||||||||||
Return of capital |
— | (0.02 | ) | — | — | (0.02 | ) | — | — | |||||||||||||||||||||||
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|
|||||||||||||||||||
Total distributions |
(0.45 | ) | (0.82 | ) | (1.05 | ) | (0.83 | ) | (0.33 | ) | (0.77 | ) | (0.78 | ) | ||||||||||||||||||
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|||||||||||||||||||
Net asset value, end of period |
$ | 10.93 | $ | 10.89 | $ | 15.47 | $ | 16.45 | $ | 15.32 | $ | 15.79 | $ | 14.08 | ||||||||||||||||||
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|
|||||||||||||||||||
Market price, end of period |
$ | 10.64 | $ | 10.38 | $ | 16.51 | $ | 16.30 | $ | 14.58 | $ | 14.56 | $ | 12.85 | ||||||||||||||||||
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|||||||||||||||||||
Total Return(d) |
||||||||||||||||||||||||||||||||
Based on net asset value |
4.56 | %(e) | (24.44 | )% | 0.50 | %(f) | 13.24 | % | (0.75 | )%(e) | 18.86 | % | (0.24 | )% | ||||||||||||||||||
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|||||||||||||||||||
Based on market price |
6.79 | %(e) | (32.52 | )% | 8.25 | % | 17.90 | % | 2.43 | %(e) | 20.09 | % | (3.40 | )% | ||||||||||||||||||
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Ratios to Average Net Assets(g) |
||||||||||||||||||||||||||||||||
Total expenses |
3.61 | %(h) | 1.95 | % | 0.85 | % | 0.91 | % | 1.42 | %(h)(i) | 1.72 | % | 1.60 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed |
3.61 | %(h) | 1.95 | % | 0.85 | % | 0.90 | % | 1.42 | %(h) | 1.72 | % | 1.60 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed and excluding interest expense |
0.88 | %(h) | 0.90 | % | 0.81 | % | 0.75 | % | 0.79 | %(h) | 0.77 | % | 0.82 | % | ||||||||||||||||||
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|||||||||||||||||||
Net investment income |
5.02 | %(h) | 5.13 | % | 4.50 | % | 4.52 | % | 4.15 | %(h) | 4.63 | % | 4.99 | % | ||||||||||||||||||
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Supplemental Data |
||||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 590,393 | $ | 588,071 | $ | 835,314 | $ | 886,970 | $ | 826,349 | $ | 851,650 | $ | 759,385 | ||||||||||||||||||
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Borrowings outstanding, end of period (000) |
$ | 305,140 | $ | 387,219 | $ | 405,522 | $ | 296,921 | $ | 271,749 | $ | 273,621 | $ | 316,216 | ||||||||||||||||||
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Portfolio turnover rate(j) |
66 | % | 104 | % | 54 | % | 69 | % | 21 | % | 27 | % | 28 | % | ||||||||||||||||||
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|
|
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
(d) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(e) | Not annualized. |
(f) | Includes payment from an affiliate, which had no impact on the Fund’s total return. |
(g) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(h) | Annualized. |
(i) | Audit costs were not annualized in the calculation of the expense ratios. If these expenses were annualized, the total expenses would have been 1.45%. |
(j) | Includes mortgage dollar roll transactions (“MDRs”). Additional information regarding portfolio turnover rate is as follows: |
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Period from 09/01/19 to 12/31/19 |
Year Ended 08/31/19 |
Year Ended 08/31/18 |
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Portfolio turnover rate (excluding MDRs) |
41 | % | 76 | % | 34 | % | 55 | % | 11 | % | 27 | % | 28 | % | ||||||||||||||||||
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F I N A N C I A L H I G H L I G H T S |
135 |
HYT(a) | ||||||||||||||||||||||||||||||||
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Period from 09/01/19 to 12/31/19 |
Year Ended 08/31/19 |
Year Ended 08/31/18 |
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Net asset value, beginning of period |
$ | 9.25 | $ | 11.99 | $ | 11.95 | $ | 11.91 | $ | 11.82 | $ | 11.90 | $ | 12.22 | ||||||||||||||||||
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Net investment income(b) |
0.33 | 0.67 | 0.76 | 0.79 | 0.25 | 0.79 | 0.83 | |||||||||||||||||||||||||
Net realized and unrealized gain (loss) |
0.27 | (2.42 | ) | 0.21 | 0.18 | 0.22 | (0.01 | ) | (0.31 | ) | ||||||||||||||||||||||
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Net increase (decrease) from investment operations |
0.60 | (1.75 | ) | 0.97 | 0.97 | 0.47 | 0.78 | 0.52 | ||||||||||||||||||||||||
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Distributions(c) |
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From net investment income |
(0.47 | )(d) | (0.60 | ) | (0.80 | ) | (0.82 | ) | (0.35 | ) | (0.86 | ) | (0.84 | ) | ||||||||||||||||||
Return of capital |
— | (0.26 | ) | (0.13 | ) | (0.11 | ) | (0.03 | ) | — | — | |||||||||||||||||||||
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Total distributions |
(0.47 | ) | (0.86 | ) | (0.93 | ) | (0.93 | ) | (0.38 | ) | (0.86 | ) | (0.84 | ) | ||||||||||||||||||
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Dilutive effect of rights offer (Note 11) |
— | (0.13 | ) | — | — | — | — | — | ||||||||||||||||||||||||
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Net asset value, end of period |
$ | 9.38 | $ | 9.25 | $ | 11.99 | $ | 11.95 | $ | 11.91 | $ | 11.82 | $ | 11.90 | ||||||||||||||||||
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Market price, end of period |
$ | 8.92 | $ | 8.74 | $ | 12.34 | $ | 11.43 | $ | 11.20 | $ | 10.51 | $ | 10.70 | ||||||||||||||||||
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Total Return(e) |
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Based on net asset value |
6.88 | %(f) | (15.71 | )% | 8.42 | % | 9.57 | % | 4.28 | %(f) | 8.06 | % | 5.25 | % | ||||||||||||||||||
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Based on market price |
7.57 | %(f) | (22.62 | )% | 16.66 | % | 11.45 | % | 10.28 | %(f) | 6.86 | % | 3.91 | % | ||||||||||||||||||
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Ratios to Average Net Assets(g) |
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Total expenses |
3.08 | %(h) | 1.89 | % | 1.35 | % | 1.50 | % | 1.92 | %(h)(i) | 2.19 | % | 1.99 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed |
3.08 | %(h) | 1.89 | % | 1.34 | % | 1.49 | % | 1.92 | %(h) | 2.19 | % | 1.99 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed and excluding interest expense and fees |
0.89 | %(h) | 0.91 | % | 0.93 | % | 0.94 | % | 0.93 | %(h) | 0.92 | % | 0.94 | % | ||||||||||||||||||
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Net investment income |
7.15 | %(h) | 6.61 | % | 6.30 | % | 7.06 | % | 6.39 | %(h) | 6.87 | % | 6.88 | % | ||||||||||||||||||
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Supplemental Data |
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Net assets, end of period (000) |
$ | 1,339,236 | $ | 1,319,444 | $ | 1,465,171 | $ | 1,456,907 | $ | 1,451,868 | $ | 1,440,436 | $ | 1,482,422 | ||||||||||||||||||
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Borrowings outstanding, end of period (000) |
$ | 551,000 | $ | 529,000 | $ | 647,000 | $ | 685,000 | $ | 607,000 | $ | 486,000 | $ | 647,000 | ||||||||||||||||||
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Asset coverage, end of period per $1,000 of bank borrowings(j) |
$ | 3,431 | $ | 3,494 | $ | 3,265 | $ | 3,127 | $ | 3,392 | $ | 3,965 | $ | 3,292 | ||||||||||||||||||
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Portfolio turnover rate |
39 | % | 45 | % | 54 | % | 82 | % | 20 | % | 64 | % | 65 | % | ||||||||||||||||||
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(a) | Consolidated Financial Highlights. |
(b) | Based on average shares outstanding. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
(e) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(f) | Not annualized. |
(g) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(h) | Annualized. |
(i) | Audit costs were not annualized in the calculation of the expense ratios. If these expenses were annualized, the total expenses would have been 1.95%. |
(j) | Calculated by subtracting the Trust’s total liabilities (not including bank borrowings) from the Trust’s total assets and dividing this by the amount of bank borrowings, and by multiplying the results by 1,000. |
136 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
BTZ | ||||||||||||||||||||||||||||||||
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Period from 11/01/19 to 12/31/19 |
Year Ended 10/31/19 |
Year Ended 10/31/18 |
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Net asset value, beginning of period |
$ | 11.19 | $ | 15.10 | $ | 15.71 | $ | 14.97 | $ | 14.94 | $ | 13.72 | $ | 14.88 | ||||||||||||||||||
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Net investment income(a) |
0.34 | 0.77 | 0.85 | 0.84 | 0.13 | 0.79 | 0.81 | |||||||||||||||||||||||||
Net realized and unrealized gain (loss) |
0.18 | (3.76 | ) | (0.45 | ) | 0.91 | 0.15 | 1.25 | (1.17 | ) | ||||||||||||||||||||||
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Net increase (decrease) from investment operations |
0.52 | (2.99 | ) | 0.40 | 1.75 | 0.28 | 2.04 | (0.36 | ) | |||||||||||||||||||||||
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Distributions(b) |
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From net investment income |
(0.50 | )(c) | (0.70 | ) | (0.86 | ) | (0.85 | ) | (0.23 | ) | (0.79 | ) | (0.80 | ) | ||||||||||||||||||
Return of capital |
— | (0.22 | ) | (0.15 | ) | (0.16 | ) | (0.02 | ) | (0.03 | ) | — | ||||||||||||||||||||
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Total distributions |
(0.50 | ) | (0.92 | ) | (1.01 | ) | (1.01 | ) | (0.25 | ) | (0.82 | ) | (0.80 | ) | ||||||||||||||||||
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Net asset value, end of period |
$ | 11.21 | $ | 11.19 | $ | 15.10 | $ | 15.71 | $ | 14.97 | $ | 14.94 | $ | 13.72 | ||||||||||||||||||
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Market price, end of period |
$ | 10.15 | $ | 10.10 | $ | 15.05 | $ | 14.71 | $ | 13.98 | $ | 13.55 | $ | 11.72 | ||||||||||||||||||
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Total Return(d) |
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Based on net asset value |
5.08 | %(e) | (19.50 | )% | 2.73 | % | 12.78 | % | 2.02 | %(e) | 16.17 | % | (1.72 | )% | ||||||||||||||||||
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Based on market price |
5.41 | %(e) | (27.10 | )% | 9.36 | % | 13.07 | % | 5.05 | %(e) | 23.34 | % | (6.49 | )% | ||||||||||||||||||
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Ratios to Average Net Assets(f) |
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Total expenses |
3.76 | %(g) | 1.79 | % | 1.12 | % | 1.35 | % | 1.68 | %(g)(h) | 2.26 | % | 1.82 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed |
3.75 | %(g) | 1.79 | % | 1.12 | % | 1.35 | % | 1.68 | %(g) | 2.25 | % | 1.82 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed and excluding interest expense |
1.02 | %(g) | 0.94 | % | 0.94 | % | 0.94 | % | 0.92 | %(g) | 1.08 | % | 0.94 | % | ||||||||||||||||||
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Net investment income |
5.93 | %(g) | 6.22 | % | 5.49 | % | 5.69 | % | 5.29 | %(g) | 5.57 | % | 5.69 | % | ||||||||||||||||||
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Supplemental Data |
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Net assets, end of period (000) |
$ | 1,048,513 | $ | 1,045,886 | $ | 1,412,147 | $ | 1,468,153 | $ | 1,554,828 | $ | 1,551,243 | $ | 1,439,954 | ||||||||||||||||||
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Borrowings outstanding, end of period (000) |
$ | 618,555 | $ | 589,324 | $ | 587,017 | $ | 614,172 | $ | 577,231 | $ | 568,461 | $ | 707,102 | ||||||||||||||||||
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Portfolio turnover rate |
96 | % | 42 | % | 20 | % | 34 | % | 2 | % | 18 | % | 30 | % | ||||||||||||||||||
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(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
(d) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(e) | Not annualized. |
(f) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(g) | Annualized. |
(h) | Audit costs were not annualized in the calculation of the expense ratios. If these expenses were annualized, the total expenses would have been 1.70%. |
F I N A N C I A L H I G H L I G H T S |
137 |
BGT | ||||||||||||||||||||||||||||||||
Six Months Ended 06/30/23 (unaudited) |
Year Ended 12/31/22 |
Year Ended 12/31/21 |
Year Ended 12/31/20 |
Period from 11/01/19 to 12/31/19 |
Year Ended 10/31/19 |
Year Ended 10/31/18 |
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Net asset value, beginning of period |
$ | 12.43 | $ | 13.44 | $ | 13.40 | $ | 14.10 | $ | 13.95 | $ | 14.33 | $ | 14.49 | ||||||||||||||||||
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Net investment income(a) |
0.59 | 0.82 | 0.65 | 0.66 | 0.12 | 0.80 | 0.76 | |||||||||||||||||||||||||
Net realized and unrealized gain (loss) |
0.32 | (1.08 | ) | 0.17 | (0.47 | ) | 0.26 | (0.37 | ) | (0.21 | ) | |||||||||||||||||||||
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Net increase (decrease) from investment operations |
0.91 | (0.26 | ) | 0.82 | 0.19 | 0.38 | 0.43 | 0.55 | ||||||||||||||||||||||||
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Distributions(b) |
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From net investment income |
(0.59 | ) | (0.75 | ) | (0.66 | ) | (0.69 | ) | (0.23 | ) | (0.81 | ) | (0.71 | ) | ||||||||||||||||||
Return of capital |
— | — | (0.12 | ) | (0.20 | ) | — | — | — | |||||||||||||||||||||||
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Total distributions |
(0.59 | ) | (0.75 | ) | (0.78 | ) | (0.89 | ) | (0.23 | ) | (0.81 | ) | (0.71 | ) | ||||||||||||||||||
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Net asset value, end of period |
$ | 12.75 | $ | 12.43 | $ | 13.44 | $ | 13.40 | $ | 14.10 | $ | 13.95 | $ | 14.33 | ||||||||||||||||||
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Market price, end of period |
$ | 11.66 | $ | 10.94 | $ | 13.99 | $ | 11.79 | $ | 12.87 | $ | 12.42 | $ | 12.72 | ||||||||||||||||||
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Total Return(c) |
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Based on net asset value |
8.00 | %(d) | (1.32 | )% | 6.43 | % | 2.83 | % | 2.89 | %(d) | 4.00 | % | 4.25 | % | ||||||||||||||||||
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Based on market price |
12.22 | %(d) | (16.56 | )% | 25.91 | % | (0.88 | )% | 5.48 | %(d) | 4.31 | % | (6.30 | )% | ||||||||||||||||||
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Ratios to Average Net Assets(e) |
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Total expenses |
2.88 | %(f) | 2.20 | % | 1.61 | % | 1.72 | % | 2.11 | %(f) | 2.41 | % | 2.29 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed |
2.87 | %(f) | 2.20 | % | 1.60 | % | 1.70 | % | 2.11 | %(f) | 2.41 | % | 2.29 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed and excluding interest expense and fees |
1.08 | %(f) | 1.17 | % | 1.19 | % | 1.17 | % | 1.28 | %(f) | 1.16 | % | 1.21 | % | ||||||||||||||||||
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Net investment income |
9.44 | %(f) | 6.40 | % | 4.82 | % | 5.13 | % | 5.23 | %(f) | 5.68 | % | 5.27 | % | ||||||||||||||||||
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Supplemental Data |
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Net assets, end of period (000) |
$ | 284,605 | $ | 277,978 | $ | 300,712 | $ | 300,126 | $ | 323,708 | $ | 321,091 | $ | 339,096 | ||||||||||||||||||
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Borrowings outstanding, end of period (000) |
$ | 91,000 | $ | 91,000 | $ | 143,000 | $ | 129,000 | $ | 130,000 | $ | 123,000 | $ | 142,000 | ||||||||||||||||||
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Asset coverage, end of period per $1,000 of bank borrowings(g) |
$ | 4,128 | $ | 4,055 | $ | 3,103 | $ | 3,327 | $ | 3,490 | $ | 3,610 | $ | 3,389 | ||||||||||||||||||
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Portfolio turnover rate |
14 | % | 16 | % | 50 | % | 65 | % | 6 | % | 53 | % | 57 | % | ||||||||||||||||||
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(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(d) | Not annualized. |
(e) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(f) | Annualized. |
(g) | Calculated by subtracting the Trust’s total liabilities (not including bank borrowings) from the Trust’s total assets and dividing this by the amount of bank borrowings, and by multiplying the results by 1,000. |
138 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
1. | ORGANIZATION |
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Trust Name | Herein Referred To As | Organized | Diversification Classification |
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BlackRock Core Bond Trust |
BHK | Delaware | Diversified | |||||||||
BlackRock Corporate High Yield Fund, Inc. |
HYT | Maryland | Diversified | |||||||||
BlackRock Credit Allocation Income Trust |
BTZ | Delaware | Diversified | |||||||||
BlackRock Floating Rate Income Trust |
BGT | Delaware | Diversified | |||||||||
|
2. | SIGNIFICANT ACCOUNTING POLICIES |
N O T E S T O F I N A N C I A L S T A T E M E N T S |
139 |
3. | INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS |
• | Equity investments traded on a recognized securities exchange are valued at that day’s official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day may be valued at the last available bid (long positions) or ask (short positions) price. |
• | Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Floating rate loan interests are valued at the mean of the bid prices from one or more independent brokers or dealers as obtained from a third-party pricing service. Pricing services generally value fixed-income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless the Manager determines such method does not represent fair value. |
• | Exchange-traded funds (“ETFs”) and closed-end funds traded on a recognized securities exchange are valued at that day’s official closing price, as applicable, on the exchange where the stock is primarily traded. ETFs and closed-end funds traded on a recognized exchange for which there were no sales on that day may be valued at the last available bid (long positions) or ask (short positions) price. |
• | Investments in open-end U.S. mutual funds (including money market funds) are valued at that day’s published NAV. |
140 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
• | Futures contracts are valued based on that day’s last reported settlement or trade price on the exchange where the contract is traded. |
• | Forward foreign currency exchange contracts are valued at the mean between the bid and ask prices and are determined as of the close of trading on the NYSE based on that day’s prevailing forward exchange rate for the underlying currencies. |
• | Exchange-traded options are valued at the mean between the last bid and ask prices at the close of the options market in which the options trade. An exchange-traded option for which there is no mean price is valued at the last bid (long positions) or ask (short positions) price. If no bid or ask price is available, the prior day’s price will be used, unless it is determined that the prior day’s price no longer reflects the fair value of the option. Over-the-counter (“OTC”) options and options on swaps (“swaptions”) are valued by an independent pricing service using a mathematical model, which incorporates a number of market data factors, such as the trades and prices of the underlying instruments. |
• | Swap agreements are valued utilizing quotes received daily by independent pricing services or through brokers, which are derived using daily swap curves and models that incorporate a number of market data factors, such as discounted cash flows, trades and values of the underlying reference instruments. |
Standard Inputs Generally Considered By The Valuation Committee And Third-Party Pricing Services | ||
Market approach |
(i) recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; | |
(ii) recapitalizations and other transactions across the capital structure; and | ||
(iii) market multiples of comparable issuers. | ||
Income approach |
(i) future cash flows discounted to present and adjusted as appropriate for liquidity, credit, and/or market risks; | |
(ii) quoted prices for similar investments or assets in active markets; and | ||
(iii) other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts and/or default rates. | ||
Cost approach |
(i) audited or unaudited financial statements, investor communications and financial or operational metrics issued by the Private Company; | |
(ii) changes in the valuation of relevant indices or publicly traded companies comparable to the Private Company; | ||
(iii) relevant news and other public sources; and | ||
(iv) known secondary market transactions in the Private Company’s interests and merger or acquisition activity in companies comparable to the Private Company. |
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Trust 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 |
N O T E S T O F I N A N C I A L S T A T E M E N T S |
141 |
• | 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). |
4. | SECURITIES AND OTHER INVESTMENTS |
142 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Trust Name | Borrower | Par | Commitment Amount |
Value | Unrealized Appreciation (Depreciation) |
|||||||||||||||
BHK |
AthenaHealth Group, Inc. | $ | 140,006 | $ | 133,862 | $ | 134,581 | $ | 719 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 719 | |||||||||||||||||||
|
|
|||||||||||||||||||
HYT |
AthenaHealth Group, Inc. | $ | 1,113,494 | $ | 1,090,517 | $ | 1,070,347 | (20,170 | ) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | (20,170 | ) | ||||||||||||||||||
|
|
|||||||||||||||||||
BTZ |
AthenaHealth Group, Inc. | $ | 49,090 | $ | 50,656 | $ | 47,188 | (3,468 | ) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | (3,468 | ) | ||||||||||||||||||
|
|
N O T E S T O F I N A N C I A L S T A T E M E N T S |
143 |
Trust Name | Borrower | Par | Commitment Amount |
Value | Unrealized Appreciation (Depreciation) |
|||||||||||||||
BGT |
AthenaHealth Group, Inc. | $ | 226,591 | $ | 226,591 | $ | 217,811 | $ | (8,780 | ) | ||||||||||
IPS Corp. | 63,658 | 63,658 | 58,979 | (4,679 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | (13,459 | ) | ||||||||||||||||||
|
|
Trust Name | Average Amount Outstanding |
Weighted Average Interest Rate |
||||||
BHK |
$ | 338,118,944 | 4.84 | % | ||||
BTZ |
588,058,583 | 4.95 |
144 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Trust Name/Counterparty |
|
Reverse Repurchase Agreements |
|
|
Fair Value of Non‑Cash Collateral Pledged Including Accrued Interest |
(a) |
|
Cash Collateral Pledged/Received |
(a) |
Net Amount | ||||||
BHK |
||||||||||||||||
Barclays Capital, Inc. |
$ | (12,270,202 | ) | $ | 12,270,202 | $ | — | $ | — | |||||||
BNP Paribas SA |
(64,541,850 | ) | 64,541,850 | — | — | |||||||||||
BofA Securities, Inc. |
(24,955,271 | ) | 24,955,271 | — | — | |||||||||||
Cantor Fitzgerald & Co. |
(6,107,254 | ) | 6,107,254 | — | — | |||||||||||
Goldman Sachs & Co. LLC |
(7,119,566 | ) | 7,119,566 | — | — | |||||||||||
HSBC Securities (USA), Inc. |
(56,275,215 | ) | 56,275,215 | — | — | |||||||||||
J.P. Morgan Securities LLC |
(6,147,092 | ) | 6,147,092 | — | — | |||||||||||
Merrill Lynch International |
(335,242 | ) | 335,242 | — | — | |||||||||||
Nomura Securities International, Inc. |
(76,717,868 | ) | 76,717,868 | — | — | |||||||||||
Royal Bank of Canada |
(28,661,704 | ) | 28,661,704 | — | — | |||||||||||
TD Securities (USA) LLC |
(22,008,635 | ) | 22,008,635 | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | (305,139,899 | ) | $ | 305,139,899 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
(a) | Net collateral, including accrued interest, if any, with a value of $320,762,200 has been pledged/received in connection with open reverse repurchase agreements. Excess of net collateral pledged, if any, to the individual counterparty is not shown for financial reporting purposes. |
Trust Name/Counterparty |
|
Reverse Repurchase Agreements |
|
|
Fair Value of Non‑Cash Collateral Pledged Including Accrued Interest |
(a) |
|
Cash Collateral Pledged/Received |
(a) |
Net Amount | ||||||
BTZ |
||||||||||||||||
Barclays Capital, Inc. |
$ | (26,807,646 | ) | $ | 26,807,646 | $ | — | $ | — | |||||||
BNP Paribas SA |
(62,234,702 | ) | 62,234,702 | — | — | |||||||||||
BofA Securities, Inc. |
(148,719,955 | ) | 148,719,955 | — | — | |||||||||||
Goldman Sachs & Co. LLC |
(20,074,970 | ) | 20,074,970 | — | — | |||||||||||
J.P. Morgan Securities LLC |
(16,950,170 | ) | 16,950,170 | — | — | |||||||||||
Nomura Securities International, Inc. |
(28,003,817 | ) | 28,003,817 | — | — | |||||||||||
RBC Capital Markets, LLC |
(66,684,635 | ) | 66,684,635 | — | — | |||||||||||
TD Securities (USA) LLC |
(249,079,239 | ) | 249,079,239 | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | (618,555,134 | ) | $ | 618,555,134 | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
(a) | Collateral, if any, with a value of $682,555,601 has been pledged in connection with open reverse repurchase agreements. Excess of collateral pledged to the individual counterparty is not shown for financial reporting purposes. |
5. | DERIVATIVE FINANCIAL INSTRUMENTS |
N O T E S T O F I N A N C I A L S T A T E M E N T S |
145 |
• | Credit default swaps — Credit default swaps are entered into to manage exposure to the market or certain sectors of the market, to reduce risk exposure to defaults of corporate and/or sovereign issuers or to create exposure to corporate and/or sovereign issuers to which a fund is not otherwise exposed (credit risk). |
146 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
• | Total return swaps — Total return swaps are entered into to obtain exposure to a security or market without owning such security or investing directly in such market or to exchange the risk/return of one security or market (e.g., fixed-income) with another security or market (e.g., equity or commodity prices) (equity risk, commodity price risk and/or interest rate risk). |
• | Interest rate swaps — Interest rate swaps are entered into to gain or reduce exposure to interest rates or to manage duration, the yield curve or interest rate (interest rate risk). |
6. | INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
BHK | BTZ | BGT | ||||||||||
Investment advisory fees |
0.50 | % | 0.62 | % | 0.75 | % |
N O T E S T O F I N A N C I A L S T A T E M E N T S |
147 |
Trust Name | Fees Waived and/or Reimbursed by the Manager | |
BHK |
$ 3,098 | |
HYT |
671 | |
BTZ |
2,838 | |
BGT |
47 |
Trust Name | Fees Waived and/or Reimbursed by the Manager | |
BGT |
$ 10,194 |
7. | PURCHASES AND SALES |
| ||||||||||||||
U.S. Government Securities | Other Securities | |||||||||||||
|
| |||||||||||||
Trust Name | Purchases | Sales | Purchases | Sales | ||||||||||
| ||||||||||||||
BHK |
$ | 11,024,711 | $ | 106,694,040 | $ | 610,442,145 | $ 658,434,359 | |||||||
HYT |
— | — | 739,982,655 | 728,441,774 | ||||||||||
BTZ |
— | — | 1,643,797,462 | 1,641,811,506 | ||||||||||
BGT |
— | — | 55,353,011 | 52,851,366 | ||||||||||
|
Trust Name | Purchases | Sales | ||||
BHK |
$ | 236,696,295 | $ 236,678,461 | |||
BTZ |
598,988,164 | 598,713,615 |
148 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
8. | INCOME TAX INFORMATION |
Trust Name |
|
Non-Expiring Capital Loss Carryforwards |
(a) |
|
Qualified Late‑Year Losses |
(b) | ||
BHK |
$ (62,329,096 | ) | $ (1,380,292 | ) | ||||
HYT |
(153,261,725 | ) | (13,209,605 | ) | ||||
BTZ |
(37,655,037 | ) | — | |||||
BGT |
(29,377,882 | ) | — |
(a) | Amounts available to offset future realized capital gains. |
(b) | The Trust has elected to defer certain qualified late-year losses and recognize such losses in the next taxable year. |
Trust Name | Tax Cost | Gross Unrealized Appreciation |
Gross Unrealized Depreciation |
Net Unrealized Appreciation (Depreciation) | ||||||||||
BHK |
$ | 981,083,851 | $ | 11,541,696 | $ | (76,080,104 | ) | $ (64,538,408) | ||||||
HYT |
1,972,975,153 | 21,764,546 | (112,316,185 | ) | (90,551,639) | |||||||||
BTZ |
1,854,854,814 | 31,470,227 | (114,312,467 | ) | (82,842,240) | |||||||||
BGT |
387,208,173 | 1,484,152 | (13,960,482 | ) | (12,476,330) |
9. | BANK BORROWINGS |
Trust Name | Maximum Amount Borrowed |
Average Amount Outstanding |
Daily Weighted Average Interest Rate |
|||||||||
HYT |
$ | 551,000,000 | $ | 516,895,028 | 5.62 | % | ||||||
BGT |
94,000,000 | 87,640,884 | 5.63 |
N O T E S T O F I N A N C I A L S T A T E M E N T S |
149 |
10. | PRINCIPAL RISKS |
150 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
11. | CAPITAL SHARE TRANSACTIONS |
N O T E S T O F I N A N C I A L S T A T E M E N T S |
151 |
Trust Name | Six Months Ended 06/30/23 |
Year Ended 12/31/22 | ||||
BHK |
— | 17,666 | ||||
HYT |
— | 101,463 | ||||
BGT |
— | 2,386 |
BGT | ||||||
Shares | Amounts | |||||
Six Months Ended June 30, 2023 |
55,022 | $624,592 |
12. | SUBSEQUENT EVENTS |
Trust Name | Declaration Date |
Record Date |
Payable/ Paid Date |
Dividend Per Common Share | ||||||||||
BHK |
07/03/23 | 07/14/23 | 07/31/23 | $ 0.074600 | ||||||||||
08/01/23 | 08/15/23 | 08/31/23 | 0.074600 | |||||||||||
HYT |
07/03/23 | 07/14/23 | 07/31/23 | 0.077900 | ||||||||||
08/01/23 | 08/15/23 | 08/31/23 | 0.077900 | |||||||||||
BTZ |
07/03/23 | 07/14/23 | 07/31/23 | 0.083900 | ||||||||||
08/01/23 | 08/15/23 | 08/31/23 | 0.083900 | |||||||||||
BGT |
07/03/23 | 07/14/23 | 07/31/23 | 0.113580 | ||||||||||
08/01/23 | 08/15/23 | 08/31/23 | 0.113580 |
152 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
D I S C L O S U R E O F I N V E S T M E N T A D V I S O R Y A G R E E M E N T S A N D S U B ‑ A D V I S O R Y A G R E E M E N T S |
153 |
154 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
D I S C L O S U R E O F I N V E S T M E N T A D V I S O R Y A G R E E M E N T S A N D S U B ‑ A D V I S O R Y A G R E E M E N T S |
155 |
156 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
A D D I T I O N A L I N F O R M A T I O N |
157 |
158 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Trust and Service Providers | ||||
Investment Adviser BlackRock Advisors, LLC Wilmington, DE 19809 Sub-Adviser BlackRock International Limited Edinburgh, EH3 8BL United Kingdom BlackRock (Singapore) Limited(a) 079912 Singapore Accounting Agent and Custodian State Street Bank and Trust Company Boston, MA 02114 |
Transfer Agent Computershare Trust Company, N.A. Canton, MA 02021 Independent Registered Public Accounting Firm Deloitte & Touche LLP Boston, MA 02116 Legal Counsel Willkie Farr & Gallagher LLP New York, NY 10019 Address of the Trusts 100 Bellevue Parkway Wilmington, DE 19809 |
| ||
(a) For BHK, HYT and BGT. |
A D D I T I O N A L I N F O R M A T I O N |
159 |
Currency Abbreviation | ||||
CAD | Canadian Dollar | |||
EUR | Euro | |||
GBP | British Pound | |||
JPY | Japanese Yen | |||
USD | United States Dollar | |||
Portfolio Abbreviation | ||||
AGM | Assured Guaranty Municipal Corp. | |||
BAB | Build America Bond | |||
BAM | Build America Mutual Assurance Co. | |||
CDI | CREST Depository Interest | |||
CLO | Collateralized Loan Obligation | |||
CMT | Constant Maturity Treasury | |||
DAC | Designated Activity Company | |||
ETF | Exchange-Traded Fund | |||
EURIBOR | Euro Interbank Offered Rate | |||
GMTN | Global Medium-Term Note | |||
GO | General Obligation Bonds | |||
LIBOR | London Interbank Offered Rate | |||
PCL | Public Company Limited | |||
PIK | Payment-in-Kind | |||
PJSC | Public Joint Stock Company | |||
RB | Revenue Bond | |||
REIT | Real Estate Investment Trust | |||
S&P | Standard & Poor’s | |||
SG | Syncora Guarantee | |||
SOFR | Secured Overnight Financing Rate | |||
SONIA | Sterling Overnight Interbank Average Rate | |||
SPDR | Standard & Poor’s Depository Receipt | |||
TBA | To-Be-Announced |
160 | 2 0 2 3 B L A C K R O C K S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
(b) Not Applicable
Item 2 – | Code of Ethics – Not Applicable to this semi-annual report |
Item 3 – | Audit Committee Financial Expert – Not Applicable to this semi-annual report |
Item 4 – | Principal Accountant Fees and Services – Not Applicable to this semi-annual report |
Item 5 – | Audit Committee of Listed Registrants – Not Applicable to this semi-annual report |
Item 6 – | Investments |
(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1(a) of this Form.
(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.
Item 7 – | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not Applicable to this semi-annual report |
Item 8 – | Portfolio Managers of Closed-End Management Investment Companies |
(a) Not Applicable to this semi-annual report
(b) As of the date of this filing, Mr. Keenan is no longer a Portfolio Manager of the Fund.
Item 9 – | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers |
Period | (a) Total Number of Shares Purchased |
(b) Average Price Paid per Share |
(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs |
(d) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs1 | ||||
January 1-31, 2023 |
55,022 | $11.3388 | 55,022 | 1,063,511 | ||||
February 1-28, 2023 |
0 | $- | 0 | 1,063,511 | ||||
March 1-31, 2023 |
0 | $- | 0 | 1,063,511 | ||||
April 1-30, 2023 |
0 | $- | 0 | 1,063,511 | ||||
May 1-31, 2023 |
0 | $- | 0 | 1,063,511 | ||||
June 1-30, 2023 |
0 | $- | 0 | 1,063,511 | ||||
Total: |
55,022 | 11.33884026 | 55,022 | 1,063,511 |
1 On September 8, 2022, the Fund announced a continuation of its open market share repurchase program. Commencing on December 1, 2022, the Fund may repurchase through November 30, 2023, up to 5% of its common shares outstanding as of the close of business on November 30, 2022, subject to certain conditions.
Item 10 – | Submission of Matters to a Vote of Security Holders – There have been no material changes to these procedures. |
Item 11 – | Controls and Procedures |
(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12 – | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies – Not Applicable to this semi-annual report |
Item 13 – | Exhibits attached hereto |
(a)(1) Code of Ethics – Not Applicable to this semi-annual report
(a)(2) Section 302 Certifications are attached
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 – Not Applicable
(a)(4) Change in Registrant’s independent public accountant – Not Applicable
(b) Section 906 Certifications are attached
1 The Fund has received exemptive relief from the Securities and Exchange Commission permitting it to make periodic distributions of long-term capital gains with respect to its outstanding common stock as frequently as twelve times each year, and as frequently as distributions are specified by or in accordance with the terms of its outstanding preferred stock. This relief is conditioned, in part, on an undertaking by the Fund to make the disclosures to the holders of the Fund’s common shares, in addition to the information required by Section 19(a) of the 1940 Act and Rule 19a-1 thereunder. The Fund is likewise obligated to file with the SEC the information contained in any such notice to shareholders and, in that regard, has attached hereto copies of each such notice made during the period.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BlackRock Floating Rate Income Trust
By: |
/s/ John M. Perlowski | |||
John M. Perlowski | ||||
Chief Executive Officer (principal executive officer) of | ||||
BlackRock Floating Rate Income Trust |
Date: August 25, 2023
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: |
/s/ John M. Perlowski | |||
John M. Perlowski | ||||
Chief Executive Officer (principal executive officer) of | ||||
BlackRock Floating Rate Income Trust |
Date: August 25, 2023
By: |
/s/ Trent Walker | |||
Trent Walker | ||||
Chief Financial Officer (principal financial officer) of | ||||
BlackRock Floating Rate Income Trust |
Date: August 25, 2023