Name of Fund: | (BGT) |
Fund Address: | 100 Bellevue Parkway, Wilmington, DE 19809 |
|
JUNE 30, 2022 |
2022 Semi-Annual Report (Unaudited) |
Not FDIC Insured • May Lose Value • No Bank Guarantee |
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Total Cumulative Distributions for the Fiscal Period |
% Breakdown of the Total Cumulative Distributions for the Fiscal Period |
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Trust Name |
Net Income |
Net Realized Capital Gains Short-Term |
Net Realized Capital Gains Long-Term |
Return of Capital |
(a) |
Total Per Common Share |
Net Income |
Net Realized Capital Gains Short-Term |
Net Realized Capital Gains Long-Term |
Return of Capital |
Total Per Common Share |
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BHK |
$ | 0.343768 | $ — | $ — | $ | 0.029232 | $ | 0.373000 | 92 | % | — | % | — | % | 8 | % | 100% | |||||||||||||||||||||||||||||
|
HYT |
0.342518 | — | — | 0.046982 | 0.389500 | 88 | — | — | 12 | 100 | |||||||||||||||||||||||||||||||||||
BTZ |
0.398786 | — | — | 0.020714 | 0.419500 | 95 | — | — | 5 | 100 | ||||||||||||||||||||||||||||||||||||
BGT |
0.306504 | — | — | 0.016996 | 0.323500 | 95 | — | — | 5 | 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. |
Exchange Symbol |
Amount Per Common Share |
|||
BHK |
$ | 0.0746 | ||
HYT |
0.0779 | |||
BTZ |
0.0839 | |||
BGT |
0.0647 |
2 |
2 0 2 2 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, 2022 | ||||
6-Month |
12-Month | |||
U.S. large cap equities (S&P 500 ® Index) |
(19.96)% | (10.62)% | ||
U.S. small cap equities (Russell 2000 ® Index) |
(23.43) | (25.20) | ||
International equities (MSCI Europe, Australasia, Far East Index) |
(19.57) | (17.77) | ||
Emerging market equities (MSCI Emerging Markets Index) |
(17.63) | (25.28) | ||
3-month Treasury bills(ICE BofA 3-Month U.S. Treasury Bill Index) |
0.15 | 0.18 | ||
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) |
(11.34) | (10.94) | ||
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) |
(10.35) | (10.29) | ||
Tax-exempt municipal bonds(Bloomberg Municipal Bond Index) |
(8.98) | (8.57) | ||
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) |
(14.19) | (12.82) | ||
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
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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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, 2022 |
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, 2022 ($11.32) (a) |
7.91% | |
Current Monthly Distribution per Common Share (b) |
$0.0746 | |
Current Annualized Distribution per Common Share (b) |
$0.8952 | |
Leverage as of June 30, 2022 (c) |
40% |
(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. |
06/30/22 |
12/31/21 |
Change |
High |
Low |
||||||||||||||||
Closing Market Price |
$ | 11.32 | $ | 16.51 | (31.44 | )% | $ | 16.51 | $ | 10.52 | ||||||||||
Net Asset Value |
11.86 | 15.47 | (23.34 | ) | 15.47 | 11.66 |
Average Annual Total Returns | ||||||||||||||||
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|
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6-month |
1 Year |
5 Years |
10 Years |
|||||||||||||
Trust at NAV (a)(b) |
(20.99 | )% | (21.05 | )% | 1.58 | % | 4.25 | % | ||||||||
Trust at Market Price (a)(b) |
(29.34 | ) | (26.28 | ) | 1.90 | 3.93 | ||||||||||
Bloomberg U.S. Credit Index (c) |
(13.81 | ) | (13.64 | ) | 1.24 | 2.45 | ||||||||||
Reference Benchmark (d) |
(14.74 | ) | (13.93 | ) | 1.41 | 2.72 | ||||||||||
Bloomberg U.S. Long Government/Credit Index (e) |
(21.88 | ) | (20.14 | ) | 1.03 | 2.63 | ||||||||||
Bloomberg Intermediate Credit Index (f) |
(8.52 | ) | (8.96 | ) | 1.43 | 2.21 | ||||||||||
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index (g) |
(14.19 | ) | (12.82 | ) | 2.09 | 4.47 | ||||||||||
Bloomberg CMBS, Eligible for U.S. Aggregate Index (h) |
(8.28 | ) | (8.89 | ) | 1.58 | 2.35 | ||||||||||
Bloomberg MBS Index (i) |
(8.78 | ) | (9.03 | ) | 0.36 | 1.18 | ||||||||||
Bloomberg ABS Index (j) |
(3.77 | ) | (4.27 | ) | 1.38 | 1.43 |
(a) |
All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage. |
(b) |
The Trust moved from a premium to NAV to a discount during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) |
Bloomberg U.S. Credit Index, an index that measures the investment grade, US dollar-denominated ,fixed-rate, taxable corporate and government related bond markets. It is composed of the US 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) |
Bloomberg U.S. Long Government/Credit Index, this unmanaged index 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) |
Bloomberg Intermediate Credit Index, this unmanaged index 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) |
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index, an unmanaged index comprised of issues 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) |
Bloomberg CMBS, Eligible for U.S. Aggregate Index, this unmanaged index is the CMBS component of the Bloomberg U.S. Aggregate Index. |
6 |
2 0 2 2 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, 2022 (continued) |
BlackRock Core Bond Trust (BHK) |
(i) |
Bloomberg MBS Index, this unmanaged index 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) |
Bloomberg ABS Index, an unmanaged index that is the asset-backed securities component of the Bloomberg U.S. Aggregate Index. |
T R U S T S U M M A R Y |
7 |
Trust Summary as of June 30, 2022 (continued) |
BlackRock Core Bond Trust (BHK) |
PORTFOLIO COMPOSITION |
| |||
Asset Type (a) |
06/30/22 |
|||
Corporate Bonds |
41.7 | % | ||
U.S. Government Sponsored Agency Securities |
18.5 | |||
U.S. Treasury Obligations |
17.7 | |||
Asset-Backed Securities |
6.1 | |||
Non-Agency Mortgage-Backed Securities |
5.8 | |||
Preferred Securities |
4.3 | |||
Floating Rate Loan Interests |
2.2 | |||
Municipal Bonds |
2.1 | |||
Foreign Agency Obligations |
1.6 |
CREDIT QUALITY ALLOCATION |
| |||
Credit Rating (a)(b) |
06/30/22 |
|||
AAA/Aaa (c) |
38.8 | % | ||
AA/Aa |
4.1 | |||
A |
9.5 | |||
BBB/Baa |
21.2 | |||
BB/Ba |
11.4 | |||
B |
7.9 | |||
CCC/Caa |
2.8 | |||
CC |
0.2 | |||
C |
— | (d) | ||
N/R (e) |
4.1 |
(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, 2022, 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 2 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, 2022 |
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, 2022 ($9.53) (a) |
9.81% | |
Current Monthly Distribution per Common Share (b) |
$0.0779 | |
Current Annualized Distribution per Common Share (b) |
$0.9348 | |
Leverage as of June 30, 2022 (c) |
30% |
(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 Fund (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. |
06/30/22 |
12/31/21 |
Change |
High |
Low |
||||||||||||||||
Closing Market Price |
$ | 9.53 | $ | 12.34 | (22.77 | )% | $ | 12.34 | $ | 9.30 | ||||||||||
Net Asset Value |
9.45 | 11.99 | (21.18 | ) | 11.99 | 9.45 |
Average Annual Total Returns | ||||||||||||||||
|
|
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6-month |
1 Year |
5 Years |
10 Years |
|||||||||||||
Trust at NAV (a)(b) |
(18.17 | )% | (16.49 | )% | 3.21 | % | 6.33 | % | ||||||||
Trust at Market Price (a)(b) |
(19.82 | ) | (15.99 | ) | 5.59 | 6.04 | ||||||||||
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index (c) |
(14.19 | ) | (12.82 | ) | 2.09 | 4.47 |
(a) |
All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage. |
(b) |
The Trust’s premium to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) |
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index (formerly Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index), an unmanaged index (the “Reference Benchmark”) comprised of issues 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, 2022 (continued) |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
PORTFOLIO COMPOSITION |
| |||
Asset Type (a) |
06/30/22 |
|||
Corporate Bonds |
81.0 | % | ||
Floating Rate Loan Interests |
15.2 | |||
Preferred Securities |
2.2 | |||
Common Stocks |
1.4 | |||
Other* |
0.2 |
CREDIT QUALITY ALLOCATION |
| |||
Credit Rating (a)(b) |
06/30/22 |
|||
A |
0.2 | % | ||
BBB/Baa |
6.5 | |||
BB/Ba |
39.3 | |||
B |
38.4 | |||
CCC/Caa |
11.7 | |||
CC |
0.1 | |||
N/R |
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. |
* | 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 2 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, 2022 |
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, 2022 ($10.89) (a) |
9.25% | |
Current Monthly Distribution per Common Share (b) |
$0.0839 | |
Current Annualized Distribution per Common Share (b) |
$1.0068 | |
Leverage as of June 30, 2022 (c) |
33% |
(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. |
06/30/22 |
12/31/21 |
Change |
High |
Low |
||||||||||||||||
Closing Market Price |
$ | 10.89 | $ | 15.05 | (27.64 | )% | $ | 15.05 | $ | 10.30 | ||||||||||
Net Asset Value |
11.63 | 15.10 | (22.98 | ) | 15.10 | 11.63 |
Average Annual Total Returns | ||||||||||||||||
|
|
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6-month |
1 Year |
5 Years |
10 Years |
|||||||||||||
Trust at NAV (a)(b) |
(20.22 | )% | (20.08 | )% | 2.05 | % | 5.00 | % | ||||||||
Trust at Market Price (a)(b) |
(25.05 | ) | (24.78 | ) | 2.63 | 5.14 | ||||||||||
Reference Benchmark (c) |
(13.68 | ) | (13.11 | ) | 1.73 | 3.50 | ||||||||||
Bloomberg U.S. Credit Index (d) |
(13.81 | ) | (13.64 | ) | 1.24 | 2.45 | ||||||||||
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index (e) |
(14.19 | ) | (12.82 | ) | 2.09 | 4.47 | ||||||||||
Bloomberg USD Capital Securities Index (f) |
(12.70 | ) | (12.37 | ) | 2.26 | 4.59 |
(a) |
All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage. |
(b) |
The Trust’s discount to NAV widened 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) |
Bloomberg U.S. Credit Index, an index that measures the investment grade, US dollar-denominated ,fixed-rate, taxable corporate and government related bond markets. It is composed of the US Corporate Index and a non-corporate component that includes foreign agencies, sovereigns, supranationals and local authorities. |
(e) |
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index, an unmanaged index comprised of issues 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) |
Bloomberg USD Capital Securities Index, 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, 2022 (continued) |
BlackRock Credit Allocation Income Trust (BTZ) |
PORTFOLIO COMPOSITION | ||
Asset Type (a) |
06/30/22 | |
Corporate Bonds |
77.9% | |
Preferred Securities |
11.2 | |
Asset-Backed Securities |
4.4 | |
Floating Rate Loan Interests |
4.4 | |
Foreign Agency Obligations |
1.4 | |
Municipal Bonds |
0.7 |
CREDIT QUALITY ALLOCATION |
||||
Credit Rating (a)(b) |
06/30/22 |
|||
AAA/Aaa |
0.6% | |||
AA/Aa |
2.0 | |||
A |
11.5 | |||
BBB/Baa |
43.8 | |||
BB/Ba |
22.7 | |||
B |
14.5 | |||
CCC/Caa |
4.1 | |||
C |
— (c) |
|||
N/R (d) |
0.8 | |||
(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, 2022, 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. |
12 |
2 0 2 2 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, 2022 |
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, 2022 ($11.02) (a) |
7.05% | |
Current Monthly Distribution per Common Share (b) |
$0.0647 | |
Current Annualized Distribution per Common Share (b) |
$0.7764 | |
Leverage as of June 30, 2022 (c) |
32% |
(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 Fund (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. |
06/30/22 |
12/31/21 |
Change |
High |
Low |
||||||||||||||||
Closing Market Price |
$ | $ | (21.23 | )% | $ | $ | ||||||||||||||
Net Asset Value |
(9.97 | ) |
Average Annual Total Returns | ||||||||||||||||
6-month |
1 Year |
5 Years |
10 Years |
|||||||||||||
Trust at NAV (a)(b) |
(7.50 | )% | (5.45 | )% | 2.87 | % | 4.82 | % | ||||||||
Trust at Market Price (a)(b) |
(19.07 | ) | (8.93 | ) | 1.64 | 3.71 | ||||||||||
S&P/LSTA Leveraged Loan Index (c) |
(4.55 | ) | (2.78 | ) | 2.91 | 3.74 |
(a) |
All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Trust’s use of leverage. |
(b) |
The Trust moved from a premium to NAV to a discount 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 (the “Reference Benchmark”) 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, 2022 (continued) |
BlackRock Floating Rate Income Trust (BGT) |
PORTFOLIO COMPOSITION |
||||
Asset Type (a) |
06/30/22 |
|||
Floating Rate Loan Interests |
98.2% | |||
Corporate Bonds |
1.5 | |||
Other* |
0.3 | |||
CREDIT QUALITY ALLOCATION |
||||
Credit Rating (a)(b) |
06/30/22 |
|||
BBB/Baa |
4.3% | |||
BB/Ba |
25.4 | |||
B |
62.0 | |||
CCC/Caa |
6.4 | |||
N/R |
1.9 | |||
(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. |
* | 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 2 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, 2022 |
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%), 3.46%, 04/20/30 |
USD | 500 | $ | 479,102 | ||||||
Series 2019-4A, Class DR, (3 mo. LIBOR US + 3.65%), 4.71%, 04/20/30 |
600 | 576,098 | ||||||||
AGL CLO 3 Ltd., Series 2020-3A, Class D,(3 mo. LIBOR US + 3.30%), 4.34%, 01/15/33 (a)(b) |
250 | 238,781 | ||||||||
ALM Ltd., Series 2020-1A, Class D, (3 mo. LIBOR US + 6.00%), 7.04%, 10/15/29(a)(b) |
285 | 250,868 | ||||||||
AMMC CLO 20 Ltd., Series 2017-20A, Class AR, (3 mo. LIBOR US + 0.87%), 1.91%, 04/17/29(a)(b) |
528 | 520,191 | ||||||||
Anchorage Capital CLO Ltd. (a)(b) |
||||||||||
Series 2013-1A, Class A2R, (3 mo. LIBOR US + 1.65%), 2.67%, 10/13/30 |
380 | 368,056 | ||||||||
Series 2013-1A, Class CR, (3 mo. LIBOR US + 3.20%), 4.22%, 10/13/30 |
720 | 690,895 | ||||||||
Apidos CLO XXII, 2015-22A, Class CR,(3 mo. LIBOR US + 2.95%), 4.01%, 04/20/31 (a)(b) |
250 | 231,597 | ||||||||
Assurant CLO I Ltd., Series 2017-1A, Class CR, (3 mo. LIBOR US + 2.15%), 3.21%, 10/20/34(a)(b) |
500 | 464,533 | ||||||||
Bain Capital Credit CLO 2021-5 Ltd., Class B, 2.83%, 10/23/34(b) |
500 | 467,647 | ||||||||
Bain Capital Credit CLO Ltd., Series 2021-3A, Class D, (3 mo. LIBOR US + 3.10%), 4.28%, 07/24/34(a)(b) |
250 | 230,740 | ||||||||
Ballyrock CLO Ltd., Series 2016-1A, Class DR2, (3 mo. LIBOR US + 3.15%), 4.19%, 10/15/28(a)(b) |
250 | 244,998 | ||||||||
Birch Grove CLO 3 Ltd., Series 2021-3A, Class D1, (3 mo. LIBOR US + 3.20%), 3.40%, 01/19/35(a)(b) |
250 | 236,190 | ||||||||
Birch Grove CLO Ltd., Series 19A, Class DR, (3 mo. LIBOR US + 3.35%), 5.18%, 06/15/31 (a)(b) |
1,000 | 944,247 | ||||||||
Canyon Capital CLO Ltd. (a)(b) |
||||||||||
Series 2016-1A, Class CR, (3 mo. LIBOR US + 1.90%), 2.94%, 07/15/31 |
250 | 235,740 | ||||||||
Series 2021-2A, Class D, (3 mo. LIBOR US + 3.35%), 4.39%, 04/15/34 |
500 | 470,587 | ||||||||
Carlyle Global Market Strategies CLO Ltd., Series 2013-1A, Class CR, (3 mo. LIBOR US + 3.35%), 4.76%, 08/14/30(a)(b) |
1,000 | 929,014 | ||||||||
CarVal CLO I Ltd., Series 2018-1A, Class E, (3 mo. LIBOR US + 5.77%), 6.81%, 07/16/31(a)(b) |
500 | 443,068 | ||||||||
CarVal CLO II Ltd., Series 2019-1A, Class DR, (3 mo. LIBOR US + 3.20%), 4.26%, 04/20/32(a)(b) |
500 | 443,751 | ||||||||
CarVal CLO III Ltd., Series 2019-2A, Class E, (3 mo. LIBOR US + 6.44%), 7.50%, 07/20/32(a)(b) |
500 | 443,027 | ||||||||
CarVal CLO VC Ltd., Series 2021-2A, Class D, (3 mo. LIBOR US + 3.25%), 3.41%, 10/15/34(a)(b) |
250 | 235,627 | ||||||||
CBAM Ltd., Series 2017-1A, Class C, (3 mo. LIBOR US + 2.40%), 3.46%, 07/20/30(a)(b) |
350 | 335,874 | ||||||||
Cedar Funding IX CLO Ltd., Series 2018-9A, Class D, (3 mo. LIBOR US + 2.60%), 3.66%, 04/20/31(a)(b) |
250 | 229,192 | ||||||||
Cedar Funding XIV CLO Ltd., Series 2021-14A, Class B, (3 mo. LIBOR US + 1.60%), 2.64%, 07/15/33(a)(b) |
500 | 476,181 | ||||||||
CIFC Funding Ltd. (a)(b) |
||||||||||
Series 2013-1A, Class CR, (3 mo. LIBOR US + 3.55%), 4.59%, 07/16/30 |
500 | 474,583 | ||||||||
Series 2014-2RA, Class B1, (3 mo. LIBOR US + 2.80%), 3.98%, 04/24/30 |
750 | 705,982 |
Security |
Par (000) |
Value |
||||||||
Asset-Backed Securities (continued) |
||||||||||
CIFC Funding Ltd. (a)(b) (continued) |
||||||||||
Series 2014-3A, Class BR2, (3 mo. LIBOR US + 1.80%), 2.94%, 10/22/31 |
USD | 250 | $ | 243,635 | ||||||
Series 2015-1A, Class ARR, (3 mo. LIBOR US + 1.11%), 2.25%, 01/22/31 |
1,000 | 982,023 | ||||||||
Series 2020-1A, Class DR, (3 mo. LIBOR US + 3.10%), 4.14%, 07/15/36 |
500 | 467,008 | ||||||||
Credit Acceptance Auto Loan Trust, Series 2020-1A, Class A, 2.01%, 02/15/29(b) |
958 | 954,536 | ||||||||
CWHEQ Revolving Home Equity Loan Trust, Series 2006-I, Class 1A, (1 mo. LIBOR US + 0.14%), 1.46%, 01/15/37(a) |
1,315 | 1,204,625 | ||||||||
Dryden 50 Senior Loan Fund, Series 2017-50A, Class B, (3 mo. LIBOR US + 1.65%), 2.69%, 07/15/30(a)(b) |
250 | 240,423 | ||||||||
Dryden 53 CLO Ltd., Series 2017-53A, Class B, (3 mo. LIBOR US + 1.40%), 2.44%, 01/15/31(a)(b) |
1,320 | 1,247,400 | ||||||||
Dryden 64 CLO Ltd., Series 2018-64A, Class D, (3 mo. LIBOR US + 2.65%), 3.69%, 04/18/31(a)(b) |
1,250 | 1,142,934 | ||||||||
Dryden 78 CLO Ltd., Series 2020-78A, Class D, (3 mo. LIBOR US + 3.00%), 4.04%, 04/17/33(a)(b) |
250 | 229,350 | ||||||||
Dryden XXVIII Senior Loan Fund, Series 2013-28A, Class B1LR, (3 mo. LIBOR US + 3.15%), 4.56%, 08/15/30(a)(b) |
1,000 | 936,952 | ||||||||
Eaton Vance CLO Ltd., Series 2015-1A, Class A2R, (3 mo. LIBOR US + 1.25%), 2.31%, 01/20/30(a)(b) |
1,000 | 971,475 | ||||||||
EDvestinU Private Education Loan Issue No. 3 LLC, Series 2021-A, Class B, 3.50%, 11/25/50(b) |
110 | 93,060 | ||||||||
Elevation CLO Ltd., Series 2021-12A, Class E, (3 mo. LIBOR US + 7.27%), 8.33%, 04/20/32(a)(b) |
500 | 445,622 | ||||||||
Elmwood CLO IV Ltd., Series 2020-1A, Class B, (3 mo. LIBOR US + 1.70%), 2.74%, 04/15/33(a)(b) |
250 | 237,782 | ||||||||
Elmwood CLO V Ltd., Series 2020-2A, Class CR, (3 mo. LIBOR US + 2.00%), 3.06%, 10/20/34(a)(b) |
436 | 406,058 | ||||||||
Elmwood CLO VI Ltd., Series 2020-3A, Class BR, 2.71%, 10/20/34(b) |
250 | 235,379 | ||||||||
Fairstone Financial Issuance Trust I, Series 2020- 1A, Class C, 5.16%, 10/20/39 (b) |
CAD | 170 | 127,923 | |||||||
Galaxy XX CLO Ltd., Series 2015-20A, Class CR, (3 mo. LIBOR US + 1.75%), 2.81%, 04/20/31(a)(b) . |
USD | 250 | 236,666 | |||||||
Generate CLO 3 Ltd., Series 2016-1A, Class DR, (3 mo. LIBOR US + 3.60%), 4.66%, 10/20/29(a)(b) |
1,750 | 1,691,789 | ||||||||
Generate CLO 4 Ltd., Series 2016-2A, Class DR, (3 mo. LIBOR US + 3.15%), 4.21%, 04/20/32(a)(b) |
1,500 | 1,386,585 | ||||||||
Generate CLO 6 Ltd., Series 6A, Class DR, (3 mo. LIBOR US + 3.50%), 4.64%, 01/22/35 (a)(b) |
750 | 698,444 | ||||||||
GoldenTree Loan Management US CLO 3, Ltd., Series 2018-3A, Class B1, (3 mo. LIBOR US + 1.55%), 2.61%, 04/20/30(a)(b) |
250 | 237,751 | ||||||||
GoldenTree Loan Management US CLO 4, Ltd., Class BR, 2.78%, 04/24/31 (b) |
500 | 479,245 | ||||||||
GoldenTree Loan Opportunities IX Ltd., Series 2014- 9A, Class BR2, (3 mo. LIBOR US + 1.60%), 2.84%, 10/29/29 (a)(b) |
1,500 | 1,452,548 | ||||||||
GoldenTree Loan Opportunities X Ltd., Series 2015- 10A, Class DR, (3 mo. LIBOR US + 3.05%), 4.11%, 07/20/31 (a)(b) |
250 | 231,813 | ||||||||
Golub Capital Partners CLO 55B Ltd., Series 2021- 55A, Class E, (3 mo. LIBOR US + 6.56%), 7.62%, 07/20/34 (a)(b) |
250 | 232,038 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Asset-Backed Securities (continued) |
| |||||||||
Grippen Park CLO Ltd., Series 2017-1A, Class D, (3 mo. LIBOR US + 3.30%), 4.36%, 01/20/30(a)(b) |
USD | 250 | $ | 236,532 | ||||||
Gulf Stream Meridian 1 Ltd., Series 2020-IA, Class E, (3 mo. LIBOR US + 6.45%), 7.49%, 04/15/33(a)(b) |
500 | 463,155 | ||||||||
Highbridge Loan Management, Series 3A-2014, Class CR, (3 mo. LIBOR US + 3.60%), 4.64%, 07/18/29(a)(b) |
1,000 | 890,086 | ||||||||
Lending Funding Trust, Series 2020-2A, Class C, 4.30%, 04/21/31(b) |
240 | 227,764 | ||||||||
Litigation Fee Residual Funding Trust, 4.00%, 10/30/27 (c) |
1,278 | 1,222,052 | ||||||||
Long Beach Mortgage Loan Trust, Series 2006-8, Class 2A4, (1 mo. LIBOR US + 0.48%), 2.10%, 09/25/36(a) |
6,276 | 2,012,219 | ||||||||
Madison Park Funding LVII Ltd., Series 2018-1A, Class D, (3 mo. LIBOR US + 3.10%), 4.14%, 10/15/31(a)(b) |
250 | 230,173 | ||||||||
Madison Park Funding XXIII Ltd., Series 2017-23A, Class CR, (3 mo. LIBOR US + 2.00%), 3.22%, 07/27/31(a)(b) |
600 | 575,598 | ||||||||
Madison Park Funding XXV Ltd., Series 2017-25A, Class A2R, (3 mo. LIBOR US + 1.65%), 2.83%, 04/25/29(a)(b) |
250 | 242,016 | ||||||||
Madison Park Funding XXXIV Ltd., Series 2019-34A, Class DR, (3 mo. LIBOR US + 3.35%), 4.53%, 04/25/32 (a)(b) |
250 | 235,495 | ||||||||
Madison Park Funding XXXVIII Ltd., Series 2021-38A, Class C, (3 mo. LIBOR US + 1.90%), 2.94%, 07/17/34 (a)(b) |
250 | 229,806 | ||||||||
Marble Point CLO XVII Ltd., Series 2020-1A, Class D, (3 mo. LIBOR US + 3.75%), 4.81%, 04/20/33(a)(b) |
250 | 239,074 | ||||||||
Marble Point CLO XXIII Ltd., Series 2021-4A, Class D1, (3 mo. LIBOR US + 3.65%), 4.79%, 01/22/35(a)(b) |
250 | 242,135 | ||||||||
Mariner Finance Issuance Trust (b) |
||||||||||
Series 2021-AA, Class C,2.96%, 03/20/36 |
190 | 164,076 | ||||||||
Series 2021-AA, Class D,3.83%, 03/20/36 |
180 | 157,938 | ||||||||
Navient Private Education Refi Loan Trust (b) |
||||||||||
Series 2021-DA, Class C,3.48%, 04/15/60 |
770 | 690,333 | ||||||||
Series 2021-DA, Class D,4.00%, 04/15/60 |
440 | 394,737 | ||||||||
Nelnet Student Loan Trust (b) |
||||||||||
Series 2021-A, Class D,4.93%, 04/20/62 |
460 | 414,507 | ||||||||
Series 2021-BA, Class B,2.68%, 04/20/62 |
1,983 | 1,681,599 | ||||||||
Neuberger Berman CLO XXII Ltd., Series 2016-22A, Class BR, (3 mo. LIBOR US + 1.65%), 2.69%, 10/17/30(a)(b) |
250 | 239,804 | ||||||||
Neuberger Berman Loan Advisers CLO 37 Ltd., Series 2020-37A, Class CR, (3 mo. LIBOR US + 1.80%),2.86%, 07/20/31 (a)(b) |
1,162 | 1,097,410 | ||||||||
OCP CLO Ltd. (a)(b) |
||||||||||
Series 2015-9A, Class BR2, (SOFR + 1.75%), 2.02%, 01/15/33 |
250 | 235,659 | ||||||||
Series 2017-13A, Class A1AR, (3 mo. LIBOR US + 0.96%), 2.00%, 07/15/30 |
1,000 | 982,528 | ||||||||
Series 2017-14A, Class A2, (3 mo. LIBOR US + 1.50%), 2.98%, 11/20/30 |
1,320 | 1,253,966 |
Security |
Par (000) |
Value |
||||||||
Asset-Backed Securities (continued) |
| |||||||||
Octagon 54 Ltd., Series 2021-1A, Class D, (3 mo. LIBOR US + 3.05%),4.09%, 07/15/34 (a)(b) |
USD | 250 | $ | 233,054 | ||||||
Octagon Investment Partners XVII Ltd., Series 2013-1A, Class BR2, (3 mo. LIBOR US + 1.40%), 2.58%, 01/25/31 (a)(b) |
500 | 474,131 | ||||||||
Octagon Investment Partners XXII Ltd., Series 2014-1A, Class DRR, (3 mo. LIBOR US + 2.75%), 3.89%, 01/22/30 (a)(b) |
500 | 459,336 | ||||||||
OneMain Financial Issuance Trust, Series 2020-1A, Class A, 3.84%, 05/14/32(b) |
1,747 | 1,742,024 | ||||||||
OZLM VIII Ltd., Series 2014-8A, Class CRR, (3 mo. LIBOR US + 3.15%),4.19%, 10/17/29 (a)(b) |
875 | 822,940 | ||||||||
OZLM XXI Ltd., Series 2017-21A, Class C, (3 mo. LIBOR US + 2.67%),3.73%, 01/20/31 (a)(b) |
1,000 | 901,057 | ||||||||
Palmer Square CLO 2013-2 Ltd., Series 2013-2A, Class A2R3, (3 mo. LIBOR US + 1.50%), 2.54%, 10/17/31(a)(b) |
250 | 236,522 | ||||||||
Palmer Square CLO 2020-3 Ltd., Class A2R, 3.01%, 11/15/31(b) |
250 | 240,082 | ||||||||
Palmer Square CLO Ltd., Series 2015-2A, Class CR2, (3 mo. LIBOR US + 2.75%), 3.81%, 07/20/30(a)(b) |
250 | 232,740 | ||||||||
Palmer Square Loan Funding Ltd. (a)(b) |
||||||||||
Series 2019-3A, Class B, (3 mo. LIBOR US + 2.10%), 3.58%, 08/20/27 |
1,750 | 1,715,580 | ||||||||
Series 2019-3A, Class C, (3 mo. LIBOR US + 3.40%), 4.88%, 08/20/27 |
750 | 740,328 | ||||||||
Series 2019-4A, Class C, (3 mo. LIBOR US + 3.25%), 4.43%, 10/24/27 |
250 | 245,532 | ||||||||
Series 2020-1A, Class C, (3 mo. LIBOR US + 2.50%), 3.98%, 02/20/28 |
250 | 237,552 | ||||||||
Park Avenue Institutional Advisers CLO Ltd., Series 2017-1A, Class DR, (3 mo. LIBOR US + 6.81%), 8.22%, 02/14/34(a)(b) |
1,300 | 1,165,093 | ||||||||
PPM CLO 2 Ltd., Series 2019-2A, Class DR, (3 mo. LIBOR US + 3.40%),4.44%, 04/16/32 (a)(b) |
250 | 234,316 | ||||||||
Prodigy Finance DAC, Series 2021-1A, Class C, (1 mo. LIBOR US + 3.75%), 5.37%, 07/25/51(a)(b) |
250 | 246,755 | ||||||||
Rad CLO 3 Ltd., Series 2019-3A, Class DR, (3 mo. LIBOR US + 2.75%),3.79%, 04/15/32 (a)(b) |
400 | 372,292 | ||||||||
Regatta XI Funding Ltd., Series 2018-1A, Class D, (3 mo. LIBOR US + 2.85%), 3.89%, 07/17/31(a)(b) |
370 | 346,808 | ||||||||
Republic Finance Issuance Trust, Series 2020-A, Class C, 4.05%, 11/20/30(b) |
240 | 224,562 | ||||||||
Romark CLO Ltd., Series 2017-1A, Class B, (3 mo. LIBOR US + 2.15%),3.33%, 10/23/30 (a)(b) |
500 | 481,962 | ||||||||
Shackleton CLO Ltd., Series 2015-7RA, Class C, (3 mo. LIBOR US + 2.35%), 3.39%, 07/15/31(a)(b) |
250 | 237,994 | ||||||||
SMB Private Education Loan Trust (b) |
||||||||||
Series 2021-C, Class C, 3.00%, 01/15/53 |
190 | 178,978 | ||||||||
Series 2021-C, Class D, 3.93%, 01/15/53 |
160 | 146,048 | ||||||||
Sterling Coofs Trust (b)(c) |
||||||||||
Series 2004-1, Class A, 2.00%, 04/15/29 |
863 | 8,633 | ||||||||
Series 2004-2, Class Note,2.08%, 03/30/30 |
805 | 8,047 | ||||||||
Structured Asset Securities Corp. Pass-Through Certificates, Series 2002-AL1, Class A2, 3.45%, 02/25/32 |
95 | 86,196 | ||||||||
TCW CLO Ltd., Series 2020-1A, Class DRR, (3 mo. LIBOR US + 3.40%),4.46%, 04/20/34 (a)(b) |
250 | 234,396 |
16 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Asset-Backed Securities (continued) |
| |||||||||
TICP CLO I-2 Ltd., Series 2018-IA, Class C, (3 mo. LIBOR US + 3.04%), 4.25%, 04/26/28(a)(b) |
USD | 500 | $ | 487,700 | ||||||
TICP CLO IX Ltd., Series 2017-9A, Class D, (3 mo. LIBOR US + 2.90%), 3.96%, 01/20/31(a)(b) |
500 | 471,569 | ||||||||
TICP CLO XV Ltd., Series 2020-15A, Class D, (3 mo. LIBOR US + 3.15%), 4.21%, 04/20/33(a)(b) |
250 | 231,145 | ||||||||
Trestles CLO Ltd. (a)(b) |
||||||||||
Series 2017-1A, Class B1R, (3 mo. LIBOR US + 1.75%),2.93%, 04/25/32 |
1,750 | 1,629,413 | ||||||||
Series 2017-1A, Class CR, (3 mo. LIBOR US + 2.90%),4.08%, 04/25/32 |
250 | 233,982 | ||||||||
Trimaran Cavu Ltd., Series 2021-2A, Class D1, (3 mo. LIBOR US + 3.25%), 4.43%, 10/25/34(a)(b) |
500 | 467,707 | ||||||||
Trimaran CAVU Ltd., Series 2019-2A, Class C, (3 mo. LIBOR US + 4.72%), 5.76%, 11/26/32(a)(b) |
500 | 494,703 | ||||||||
Unique Pub Finance Co. PLC (d) |
||||||||||
Series A4, 5.66%, 06/30/27 |
GBP | 636 | 810,524 | |||||||
Series M, 7.40%, 03/28/24 |
1,829 | 2,269,046 | ||||||||
Series N, 6.46%, 03/30/32 |
100 | 139,397 | ||||||||
Voya CLO 2017-2, Class AR,2.69%, 06/07/30 (b) |
USD | 250 | 241,110 | |||||||
Voya CLO Ltd. (a)(b) |
||||||||||
Series 2017-4A, Class A1, (3 mo. LIBOR US + 1.13%), 2.17%, 10/15/30 |
250 | 246,257 | ||||||||
Series 2018-2A, Class A2, (3 mo. LIBOR US + 1.25%), 2.29%, 07/15/31 |
1,000 | 966,737 | ||||||||
Whitebox CLO I Ltd., Series 2019-1A, Class CR, (3 mo. LIBOR US + 3.05%), 4.23%, 07/24/32(a)(b) |
500 | 448,110 | ||||||||
Whitebox CLO II Ltd., Series 2020-2A, Class DR, (3 mo. LIBOR US + 3.35%), 4.53%, 10/24/34(a)(b) |
500 | 470,916 | ||||||||
Whitebox CLO III Ltd. (a)(b) |
||||||||||
Series 2021-3A, Class D, (3 mo. LIBOR US + 3.35%),4.39%, 10/15/34 |
250 | 235,505 | ||||||||
Series 2021-3A, Class E, (3 mo. LIBOR US + 6.85%),7.89%, 10/15/34 |
250 | 232,502 | ||||||||
York CLO 1 Ltd., Series 2014-1A, Class CRR, (3 mo. LIBOR US + 2.10%), 3.24%, 10/22/29(a)(b) |
250 | 242,491 | ||||||||
|
|
|||||||||
Total Asset-Backed Securities — 10.2% (Cost: $69,577,848) |
|
65,110,067 | ||||||||
|
|
|||||||||
Corporate Bonds |
||||||||||
Advertising Agencies — 0.1% |
||||||||||
Interpublic Group of Cos., Inc., 5.40%, 10/01/48 |
500 | 487,214 | ||||||||
|
|
|||||||||
Aerospace & Defense — 2.1% |
||||||||||
Amsted Industries, Inc., 5.63%, 07/01/27 (b) |
30 | 28,200 | ||||||||
Boeing Co., 3.20%, 03/01/29 (e) |
1,175 | 1,016,709 | ||||||||
Bombardier, Inc. (b) 7.50%, 03/15/25 |
35 | 31,631 | ||||||||
7.13%, 06/15/26 |
612 | 504,582 | ||||||||
7.88%, 04/15/27 |
395 | 328,802 | ||||||||
6.00%, 02/15/28 |
415 | 311,001 | ||||||||
7.45%, 05/01/34 |
100 | 74,995 | ||||||||
Eaton Corp., 4.15%, 11/02/42 |
500 | 448,706 | ||||||||
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26 (b) |
200 | 159,296 | ||||||||
General Electric Co., 6.15%, 08/07/37 |
2,150 | 2,219,561 | ||||||||
Lockheed Martin Corp., 4.09%, 09/15/52 |
1,410 | 1,312,690 | ||||||||
Northrop Grumman Corp., 3.85%, 04/15/45 |
350 | 294,632 | ||||||||
Raytheon Technologies Corp., 2.25%, 07/01/30 (e) |
2,000 | 1,724,163 |
Security |
Par (000) |
Value |
||||||||
Aerospace & Defense (continued) |
| |||||||||
Rolls-Royce PLC, 5.75%, 10/15/27 (b) |
USD | 1,000 | $ | 901,300 | ||||||
Spirit AeroSystems, Inc. (b) |
||||||||||
5.50%, 01/15/25 |
105 | 97,125 | ||||||||
7.50%, 04/15/25 |
22 | 20,433 | ||||||||
TransDigm, Inc. |
||||||||||
8.00%, 12/15/25 (b) |
130 | 131,461 | ||||||||
6.25%, 03/15/26 (b) |
3,103 | 2,990,516 | ||||||||
6.38%, 06/15/26 |
31 | 28,985 | ||||||||
7.50%, 03/15/27 |
71 | 66,982 | ||||||||
4.63%, 01/15/29 |
318 | 255,996 | ||||||||
4.88%, 05/01/29 |
203 | 165,250 | ||||||||
Triumph Group, Inc., 8.88%, 06/01/24 (b) |
527 | 530,884 | ||||||||
|
|
|||||||||
13,643,900 | ||||||||||
Airlines — 1.4% |
||||||||||
Air Canada, 3.88%, 08/15/26 (b) |
255 | 215,702 | ||||||||
American Airlines Pass-Through Trust |
||||||||||
Series 2013-2, Class A,4.95%, 07/15/24 (e) |
810 | 794,536 | ||||||||
Series 2015-2, Class A,4.00%, 03/22/29 |
1,074 | 950,538 | ||||||||
Series 2015-2, Class AA,3.60%, 03/22/29 |
1,074 | 994,136 | ||||||||
American Airlines, Inc., 11.75%, 07/15/25 (b) |
303 | 313,575 | ||||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd. (b) |
||||||||||
5.50%, 04/20/26 |
744 | 683,493 | ||||||||
5.75%, 04/20/29 |
701 | 598,767 | ||||||||
Avianca Midco 2 Ltd., 9.00%, 12/01/28 (b) |
150 | 129,868 | ||||||||
Delta Air Lines, Inc./SkyMiles IP Ltd., 4.75%, 10/20/28 (b) |
49 | 46,105 | ||||||||
Deutsche Lufthansa AG, 2.88%, 05/16/27 (d) |
EUR | 100 | 82,694 | |||||||
Gol Finance SA, 7.00%, 01/31/25 (b) |
USD | 200 | 124,288 | |||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (b) |
168 | 150,562 | ||||||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27 (b) |
465 | 457,493 | ||||||||
United Airlines Pass-Through Trust |
||||||||||
Series 2020-1, Class A,5.88%, 04/15/29 |
406 | 399,366 | ||||||||
Series 2020-1, Class B,4.88%, 07/15/27 |
29 | 27,586 | ||||||||
Series A, Class A, 4.30%, 02/15/27 |
2,512 | 2,401,272 | ||||||||
United Airlines, Inc. (b) |
||||||||||
4.38%, 04/15/26 |
310 | 273,163 | ||||||||
4.63%, 04/15/29 |
606 | 514,052 | ||||||||
|
|
|||||||||
9,157,196 | ||||||||||
Auto Components — 0.6% |
||||||||||
Aptiv PLC, 4.40%, 10/01/46 |
465 | 369,351 | ||||||||
Clarios Global LP, 6.75%, 05/15/25 (b) |
154 | 152,529 | ||||||||
Clarios Global LP/Clarios U.S. Finance Co. |
||||||||||
4.38%, 05/15/26 (d) |
EUR | 100 | 91,242 | |||||||
6.25%, 05/15/26 (b) |
USD | 743 | 715,137 | |||||||
8.50%, 05/15/27 (b) |
1,815 | 1,754,152 | ||||||||
Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28 (b) |
211 | 182,283 | ||||||||
Dornoch Debt Merger Sub, Inc., 6.63%, 10/15/29 (b) |
75 | 55,388 | ||||||||
Goodyear Tire & Rubber Co. |
||||||||||
5.00%, 07/15/29 |
109 | 90,269 | ||||||||
5.63%, 04/30/33 |
162 | 129,743 | ||||||||
ZF Finance GmbH, 3.75%, 09/21/28 (d) |
EUR | 100 | 82,220 | |||||||
|
|
|||||||||
3,622,314 | ||||||||||
Automobiles — 1.4% |
||||||||||
Allison Transmission, Inc., 5.88%, 06/01/29 (b) |
USD | 129 | 119,970 | |||||||
Asbury Automotive Group, Inc. |
||||||||||
4.50%, 03/01/28 |
18 | 15,615 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Automobiles (continued) |
||||||||||
Asbury Automotive Group, Inc. (continued) |
||||||||||
4.75%, 03/01/30 |
USD | 84 | $ | 69,069 | ||||||
5.00%, 02/15/32 (b) |
106 | 86,655 | ||||||||
Carvana Co. (b)(e) |
||||||||||
5.50%, 04/15/27 |
173 | 111,643 | ||||||||
4.88%, 09/01/29 |
151 | 85,859 | ||||||||
Constellation Automotive Financing PLC, 4.88%, 07/15/27 (d) |
GBP | 100 | 95,558 | |||||||
Ford Motor Co. |
||||||||||
0.00%, 03/15/26(f)(g) |
USD | 150 | 136,800 | |||||||
4.35%, 12/08/26 |
7 | 6,488 | ||||||||
3.25%, 02/12/32 |
420 | 314,118 | ||||||||
4.75%, 01/15/43 |
2,000 | 1,424,669 | ||||||||
5.29%, 12/08/46 |
19 | 14,571 | ||||||||
Ford Motor Credit Co. LLC |
||||||||||
4.69%, 06/09/25 |
200 | 189,002 | ||||||||
4.13%, 08/04/25 |
279 | 264,265 | ||||||||
4.39%, 01/08/26 |
200 | 184,212 | ||||||||
2.70%, 08/10/26 |
200 | 170,430 | ||||||||
4.95%, 05/28/27 |
401 | 372,429 | ||||||||
4.13%, 08/17/27 |
200 | 176,100 | ||||||||
3.82%, 11/02/27 |
400 | 340,000 | ||||||||
2.90%, 02/16/28 |
200 | 161,152 | ||||||||
5.11%, 05/03/29 |
200 | 179,295 | ||||||||
3.63%, 06/17/31 |
500 | 387,500 | ||||||||
General Motors Co., 6.25%, 10/02/43 |
2,506 | 2,387,433 | ||||||||
General Motors Financial Co., Inc., 4.25%, 05/15/23 |
807 | 809,749 | ||||||||
Group 1 Automotive, Inc., 4.00%, 08/15/28 (b) |
30 | 25,074 | ||||||||
Ken Garff Automotive LLC, 4.88%, 09/15/28 (b) |
82 | 66,854 | ||||||||
LCM Investments Holdings II LLC, 4.88%, 05/01/29 (b) |
182 | 138,520 | ||||||||
Lithia Motors, Inc., 3.88%, 06/01/29 (b) |
89 | 75,595 | ||||||||
MajorDrive Holdings IV LLC, 6.38%, 06/01/29 (b) |
120 | 82,200 | ||||||||
Penske Automotive Group, Inc. |
||||||||||
3.50%, 09/01/25 |
29 | 27,188 | ||||||||
3.75%, 06/15/29 |
46 | 38,302 | ||||||||
RCI Banque SA, (5 year EUR Swap + 2.85%), 2.63%, 02/18/30 (a)(d) |
EUR | 100 | 90,827 | |||||||
Sonic Automotive, Inc., 4.63%, 11/15/29 (b) |
USD | 40 | 30,992 | |||||||
Wabash National Corp., 4.50%, 10/15/28 (b) |
149 | 113,985 | ||||||||
|
|
|||||||||
8,792,119 | ||||||||||
Banks — 1.5% |
||||||||||
Banca Monte dei Paschi di Siena SpA, 2.63%, 04/28/25 (d) |
EUR | 100 | 92,518 | |||||||
Banco Bilbao Vizcaya Argentaria SA, (5 year USD Swap + 3.87%), 6.13% (a)(h) |
USD | 2,000 | 1,683,322 | |||||||
Bangkok Bank PCL, (5 year CMT + 4.73%), 5.00% (a) |
200 | 182,100 | ||||||||
Bank Negara Indonesia Persero Tbk PT, 3.75%, 03/30/26 (d) |
252 | 227,458 | ||||||||
Bank of Communications Co. Ltd., (5 year CMT + 3.35%), 3.80% (a)(d)(h) |
518 | 506,993 | ||||||||
Grupo Aval Ltd., 4.38%, 02/04/30 (b) |
200 | 155,788 | ||||||||
Intesa Sanpaolo SpA, 5.02%, 06/26/24 (b) |
3,151 | 3,006,472 | ||||||||
Krung Thai Bank PCL, (5 year CMT + 3.53%), 4.40% (a)(d)(h) |
252 | 217,980 | ||||||||
NBK Tier 1 Ltd., 3.63% (a)(b)(h) |
209 | 187,486 | ||||||||
Standard Chartered PLC, (5 year USD ICE Swap + 1.97%), 4.87%, 03/15/33 (a)(b) |
500 | 471,230 |
Security |
Par (000) |
Value |
||||||||
Banks (continued) |
||||||||||
SVB Financial Group, Series D, (5 year CMT + 3.07%), 4.25% (a)(h) |
USD | 1,275 | $ | 962,027 | ||||||
Wells Fargo & Co. |
||||||||||
3.90%, 05/01/45 |
2,250 | 1,891,446 | ||||||||
Series BB, (5 year CMT + 3.45%), 3.90% (a)(h) |
245 | 211,006 | ||||||||
|
|
|||||||||
9,795,826 | ||||||||||
Beverages — 1.2% |
||||||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46 (e) |
4,600 | 4,323,493 | ||||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27 (b)(i) |
301 | 223,270 | ||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.00%, 09/01/29 (b) |
1,466 | 1,176,465 | ||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 5.25%, 08/15/27 (b) |
242 | 172,560 | ||||||||
Ball Corp. |
||||||||||
5.25%, 07/01/25 |
12 | 12,008 | ||||||||
2.88%, 08/15/30 |
25 | 20,123 | ||||||||
3.13%, 09/15/31 |
254 | 204,887 | ||||||||
Crown Cork & Seal Co., Inc., 7.38%, 12/15/26 |
23 | 23,495 | ||||||||
Mauser Packaging Solutions Holding Co., 5.50%, 04/15/24 (b) |
431 | 411,605 | ||||||||
Silgan Holdings, Inc., 4.13%, 02/01/28 |
25 | 22,418 | ||||||||
Trivium Packaging Finance BV (b) |
||||||||||
5.50%, 08/15/26 |
205 | 193,666 | ||||||||
8.50%, 08/15/27 |
738 | 691,951 | ||||||||
|
|
|||||||||
7,475,941 | ||||||||||
Biotechnology — 0.2% |
||||||||||
Baxalta, Inc., 5.25%, 06/23/45 |
500 | 498,957 | ||||||||
Cidron Aida Finco SARL, 5.00%, 04/01/28 (d) |
EUR | 100 | 87,049 | |||||||
Gilead Sciences, Inc., 4.80%, 04/01/44 |
USD | 1,000 | 967,467 | |||||||
|
|
|||||||||
1,553,473 | ||||||||||
Building Materials (b) — 0.2% |
||||||||||
Cornerstone Building Brands, Inc., 6.13%, 01/15/29 |
171 | 109,858 | ||||||||
CP Atlas Buyer, Inc., 7.00%, 12/01/28 |
41 | 29,609 | ||||||||
Jeld-Wen, Inc. |
||||||||||
6.25%, 05/15/25 |
98 | 94,080 | ||||||||
4.63%, 12/15/25 |
12 | 10,200 | ||||||||
Masonite International Corp. |
||||||||||
Class C, 5.38%, 02/01/28 |
17 | 15,385 | ||||||||
Class C, 3.50%, 02/15/30 |
145 | 115,416 | ||||||||
New Enterprise Stone & Lime Co., Inc. |
||||||||||
5.25%, 07/15/28 |
55 | 45,212 | ||||||||
9.75%, 07/15/28 |
26 | 22,230 | ||||||||
SRM Escrow Issuer LLC, 6.00%, 11/01/28 |
408 | 344,854 | ||||||||
Standard Industries, Inc. |
||||||||||
4.75%, 01/15/28 |
54 | 46,170 | ||||||||
4.38%, 07/15/30 |
501 | 395,164 | ||||||||
3.38%, 01/15/31 |
64 | 47,207 | ||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 |
117 | 102,082 | ||||||||
|
|
|||||||||
1,377,467 | ||||||||||
Building Products — 0.8% |
||||||||||
Advanced Drainage Systems, Inc. |
||||||||||
5.00%, 09/30/27 (b) |
191 | 176,106 | ||||||||
6.38%, 06/15/30 |
290 | 283,205 | ||||||||
Beacon Roofing Supply, Inc., 4.13%, 05/15/29 (b) |
68 | 55,299 |
18 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Building Products (continued) |
||||||||||||
Foundation Building Materials, Inc., 6.00%, 03/01/29 (b) |
USD | 103 | $ | 75,448 | ||||||||
GYP Holdings III Corp., 4.63%, 05/01/29 (b) |
159 | 123,977 | ||||||||||
Home Depot, Inc., 5.88%, 12/16/36 |
1,660 | 1,908,636 | ||||||||||
LBM Acquisition LLC, 6.25%, 01/15/29 (b) |
148 | 95,285 | ||||||||||
Lowe’s Cos., Inc., 4.38%, 09/15/45 |
1,000 | 866,615 | ||||||||||
Patrick Industries, Inc., 4.75%, 05/01/29 (b) |
43 | 32,002 | ||||||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26 (b) |
157 | 127,643 | ||||||||||
SRS Distribution, Inc. (b) 4.63%, 07/01/28 |
362 | 316,750 | ||||||||||
6.13%, 07/01/29 |
265 | 209,078 | ||||||||||
6.00%, 12/01/29 |
371 | 291,320 | ||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28 (b) |
291 | 232,800 | ||||||||||
White Cap Parent LLC, (8.25% PIK), 8.25%, 03/15/26 (b)(i) |
142 | 118,215 | ||||||||||
|
|
|||||||||||
4,912,379 | ||||||||||||
Capital Markets — 2.6% |
||||||||||||
Charles Schwab Corp., Series H, (10 year CMT + 3.08%), 4.00% (a)(e)(h) |
5,195 | 3,998,851 | ||||||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (b) |
129 | 106,425 | ||||||||||
FMR LLC, 4.95%, 02/01/33 (b) |
2,300 | 2,301,028 | ||||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
||||||||||||
4.75%, 09/15/24 |
112 | 104,530 | ||||||||||
6.25%, 05/15/26 |
57 | 53,361 | ||||||||||
5.25%, 05/15/27 |
309 | 273,725 | ||||||||||
4.38%, 02/01/29 |
207 | 167,289 | ||||||||||
Kane Bidco Ltd., 6.50%, 02/15/27 (d) |
GBP | 100 | 106,295 | |||||||||
NFP Corp. (b) 4.88%, 08/15/28 |
USD | 358 | 306,616 | |||||||||
6.88%, 08/15/28 |
1,008 | 831,640 | ||||||||||
Northern Trust Corp., 3.95%, 10/30/25 (e) |
8,000 | 8,032,617 | ||||||||||
Raymond James Financial, Inc., 4.95%, 07/15/46 |
400 | 389,811 | ||||||||||
|
|
|||||||||||
16,672,188 | ||||||||||||
Chemicals — 0.9% |
||||||||||||
Air Liquide Finance SA, 3.50%, 09/27/46 (b) |
360 | 303,623 | ||||||||||
Ashland LLC, 3.38%, 09/01/31 (b) |
186 | 151,288 | ||||||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29 (b) |
498 | 406,552 | ||||||||||
Braskem Netherlands Finance BV, (5 year CMT + 8.22%), 8.50%, 01/23/81 (a)(b) |
219 | 219,246 | ||||||||||
Diamond BC BV, 4.63%, 10/01/29 (b) |
419 | 335,074 | ||||||||||
Element Solutions, Inc., 3.88%, 09/01/28 (b) |
807 | 665,880 | ||||||||||
EverArc Escrow SARL, 5.00%, 10/30/29 (b) |
372 | 313,118 | ||||||||||
GCP Applied Technologies, Inc., 5.50%, 04/15/26 (b) |
101 | 100,495 | ||||||||||
HB Fuller Co., 4.25%, 10/15/28 |
74 | 62,091 | ||||||||||
Herens Holdco SARL, 4.75%, 05/15/28 (b) |
400 | 332,320 | ||||||||||
Herens Midco SARL, 5.25%, 05/15/29 (d) |
EUR | 100 | 68,377 | |||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28 (b) |
USD | 230 | 181,700 | |||||||||
Ingevity Corp., 3.88%, 11/01/28 (b) |
57 | 47,738 | ||||||||||
Kobe U.S. Midco 2, Inc., (9.25% Cash or 10.00% PIK), 9.25%, 11/01/26 (b)(i) |
155 | 141,769 | ||||||||||
LSF11 A5 HoldCo LLC, 6.63%, 10/15/29 (b) |
76 | 64,030 | ||||||||||
Lune Holdings SARL, 5.63%, 11/15/28 (d) |
EUR | 100 | 84,142 | |||||||||
Minerals Technologies, Inc., 5.00%, 07/01/28 (b) |
USD | 114 | 99,214 | |||||||||
Monitchem HoldCo 3 SA, 5.25%, 03/15/25 (d) |
EUR | 100 | 96,018 | |||||||||
NOVA Chemicals Corp., 4.88%, 06/01/24 (b) |
USD | 41 | 38,970 | |||||||||
Sasol Financing USA LLC, 6.50%, 09/27/28 |
200 | 181,663 |
Security |
Par (000) |
Value |
||||||||||
Chemicals (continued) |
||||||||||||
SCIL IV LLC/SCIL USA Holdings LLC, 5.38%, 11/01/26 (b) |
USD | 200 | $ | 160,000 | ||||||||
Scotts Miracle-Gro Co. 4.00%, 04/01/31 |
122 | 91,195 | ||||||||||
4.38%, 02/01/32 |
18 | 13,684 | ||||||||||
Sherwin-Williams Co., 4.50%, 06/01/47 |
350 | 310,161 | ||||||||||
WESCO Distribution, Inc. (b) 7.13%, 06/15/25 |
117 | 116,746 | ||||||||||
7.25%, 06/15/28 |
252 | 249,228 | ||||||||||
WR Grace Holdings LLC (b) 5.63%, 10/01/24 |
21 | 20,345 | ||||||||||
5.63%, 08/15/29 |
1,144 | 842,270 | ||||||||||
|
|
|||||||||||
5,696,937 | ||||||||||||
Commercial Services & Supplies — 0.3% |
||||||||||||
ADT Security Corp. (b) 4.13%, 08/01/29 |
19 | 15,420 | ||||||||||
4.88%, 07/15/32 |
25 | 19,901 | ||||||||||
Albion Financing 1 SARL/Aggreko Holdings, Inc., 6.13%, 10/15/26 (b) |
200 | 171,165 | ||||||||||
APX Group, Inc. (b) 6.75%, 02/15/27 |
123 | 114,070 | ||||||||||
5.75%, 07/15/29 |
181 | 140,129 | ||||||||||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.38%, 03/01/29 (b)(e) |
26 | 21,627 | ||||||||||
BCP V Modular Services Finance II PLC, 4.75%, 11/30/28 (d) |
EUR | 100 | 83,155 | |||||||||
EC Finance PLC, 3.00%, 10/15/26 (d) |
100 | 91,409 | ||||||||||
Fortress Transportation & Infrastructure Investors LLC (b) |
||||||||||||
6.50%, 10/01/25 |
USD | 50 | 47,175 | |||||||||
5.50%, 05/01/28 |
194 | 160,130 | ||||||||||
Herc Holdings, Inc., 5.50%, 07/15/27 (b) |
164 | 149,716 | ||||||||||
Hertz Corp. (b) 4.63%, 12/01/26 |
85 | 71,067 | ||||||||||
5.00%, 12/01/29 |
70 | 53,900 | ||||||||||
Metis Merger Sub LLC, 6.50%, 05/15/29 (b) |
145 | 115,224 | ||||||||||
NESCO Holdings II, Inc., 5.50%, 04/15/29 (b) |
146 | 122,275 | ||||||||||
PECF USS Intermediate Holding III Corp., 8.00%, 11/15/29 (b) |
7 | 5,548 | ||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc. (b) |
||||||||||||
5.75%, 04/15/26 |
103 | 96,047 | ||||||||||
6.25%, 01/15/28 |
177 | 148,077 | ||||||||||
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29 (b) |
400 | 343,328 | ||||||||||
United Rentals North America, Inc., 5.25%, 01/15/30 |
40 | 37,100 | ||||||||||
Williams Scotsman International, Inc., 4.63%, 08/15/28 (b) |
146 | 124,465 | ||||||||||
|
|
|||||||||||
2,130,928 | ||||||||||||
Communications Equipment — 0.2% |
||||||||||||
Avaya, Inc., 6.13%, 09/15/28 (b) |
398 | 259,695 | ||||||||||
Ciena Corp., 4.00%, 01/31/30 (b) |
71 | 61,282 | ||||||||||
CommScope Technologies LLC, 6.00%, 06/15/25 (b) |
143 | 123,695 | ||||||||||
CommScope, Inc. (b) |
||||||||||||
8.25%, 03/01/27 |
44 | 34,782 | ||||||||||
7.13%, 07/01/28 (e) |
171 | 129,974 | ||||||||||
4.75%, 09/01/29 |
213 | 171,826 | ||||||||||
Nokia OYJ 4.38%, 06/12/27 |
31 | 29,285 | ||||||||||
6.63%, 05/15/39 |
88 | 87,010 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Communications Equipment (continued) |
||||||||||||
Viasat, Inc. (b) 5.63%, 09/15/25 |
USD | 169 | $ | 136,693 | ||||||||
6.50%, 07/15/28 |
35 | 24,109 | ||||||||||
Viavi Solutions, Inc., 3.75%, 10/01/29 (b) |
202 | 169,178 | ||||||||||
|
|
|||||||||||
1,227,529 | ||||||||||||
Construction & Engineering — 0.6% |
||||||||||||
ITR Concession Co. LLC, 4.20%, 07/15/25 (b) |
4,000 | 3,984,403 | ||||||||||
|
|
|||||||||||
Construction Materials (b) — 0.1% |
||||||||||||
American Builders & Contractors Supply Co., Inc. 4.00%, 01/15/28 |
158 | 135,329 | ||||||||||
3.88%, 11/15/29 |
46 | 36,777 | ||||||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27 |
74 | 60,242 | ||||||||||
H&E Equipment Services, Inc., 3.88%, 12/15/28 |
37 | 29,924 | ||||||||||
IAA, Inc., 5.50%, 06/15/27 |
12 | 11,177 | ||||||||||
Picasso Finance Sub, Inc., 6.13%, 06/15/25 |
175 | 170,625 | ||||||||||
Thor Industries, Inc., 4.00%, 10/15/29 |
114 | 90,288 | ||||||||||
Winnebago Industries, Inc., 6.25%, 07/15/28 |
77 | 70,512 | ||||||||||
|
|
|||||||||||
604,874 | ||||||||||||
Consumer Discretionary — 0.6% |
||||||||||||
APi Escrow Corp., 4.75%, 10/15/29 (b) |
68 | 54,910 | ||||||||||
APi Group DE, Inc., 4.13%, 07/15/29 (b) |
89 | 70,684 | ||||||||||
Carnival Corp. (b) 10.50%, 02/01/26 |
605 | 602,259 | ||||||||||
5.75%, 03/01/27 |
649 | 468,760 | ||||||||||
9.88%, 08/01/27 |
258 | 251,550 | ||||||||||
4.00%, 08/01/28 |
811 | 665,020 | ||||||||||
6.00%, 05/01/29 |
216 | 151,764 | ||||||||||
CoreLogic, Inc., 4.50%, 05/01/28 (b) |
350 | 269,500 | ||||||||||
Legends Hospitality Holding Co. LLC/Legends Hospitality Co-Issuer, Inc., 5.00%, 02/01/26(b) |
60 | 50,280 | ||||||||||
Life Time, Inc. (b) 5.75%, 01/15/26 |
174 | 155,986 | ||||||||||
8.00%, 04/15/26 |
146 | 130,122 | ||||||||||
NCL Corp. Ltd., 5.88%, 03/15/26 (b) |
156 | 122,443 | ||||||||||
NCL Finance Ltd., 6.13%, 03/15/28 (b) |
177 | 128,767 | ||||||||||
Nielsen Finance LLC/Nielsen Finance Co. (b) 5.63%, 10/01/28 |
208 | 193,170 | ||||||||||
5.88%, 10/01/30 |
125 | 114,770 | ||||||||||
Royal Caribbean Cruises Ltd. (b) 10.88%, 06/01/23 |
45 | 45,150 | ||||||||||
9.13%, 06/15/23 |
103 | 101,863 | ||||||||||
11.50%, 06/01/25 |
82 | 84,255 | ||||||||||
5.50%, 08/31/26 |
61 | 45,292 | ||||||||||
5.50%, 04/01/28 |
340 | 236,300 | ||||||||||
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 07/30/26 (d) |
EUR | 88 | 77,789 | |||||||||
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29 (b) |
USD | 124 | 97,775 | |||||||||
|
|
|||||||||||
4,118,409 | ||||||||||||
Consumer Finance — 0.7% |
||||||||||||
American Express Co., (5 year CMT + 2.85%), 3.55% (a)(h) |
500 | 406,805 | ||||||||||
Block, Inc., 3.50%, 06/01/31 (b) |
821 | 654,222 | ||||||||||
HealthEquity, Inc., 4.50%, 10/01/29 (b) |
397 | 347,375 | ||||||||||
MPH Acquisition Holdings LLC, 5.50%, 09/01/28 (b) |
139 | 123,710 | ||||||||||
Navient Corp. 7.25%, 09/25/23 |
28 | 27,703 | ||||||||||
6.13%, 03/25/24 |
51 | 48,355 | ||||||||||
5.88%, 10/25/24 |
39 | 35,848 |
Security |
Par (000) |
Value |
||||||||||
Consumer Finance (continued) |
||||||||||||
Navient Corp. (continued) 5.50%, 03/15/29 |
USD | 193 | $ | 148,786 | ||||||||
OneMain Finance Corp. 7.13%, 03/15/26 |
150 | 138,635 | ||||||||||
3.50%, 01/15/27 |
206 | 164,800 | ||||||||||
6.63%, 01/15/28 |
165 | 147,470 | ||||||||||
5.38%, 11/15/29 |
59 | 47,811 | ||||||||||
4.00%, 09/15/30 |
91 | 67,454 | ||||||||||
Sabre Global, Inc. (b) 9.25%, 04/15/25 |
99 | 95,391 | ||||||||||
7.38%, 09/01/25 |
64 | 59,360 | ||||||||||
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26 (b) |
258 | 228,327 | ||||||||||
Shift4 Payments, Inc., 0.00%, 12/15/25 (f)(g) |
236 | 189,154 | ||||||||||
SLM Corp., 3.13%, 11/02/26 |
117 | 94,473 | ||||||||||
Verscend Escrow Corp., 9.75%, 08/15/26 (b) |
1,355 | 1,317,738 | ||||||||||
|
|
|||||||||||
4,343,417 | ||||||||||||
Containers & Packaging — 0.4% |
||||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC (b) |
||||||||||||
6.00%, 06/15/27 |
400 | 395,892 | ||||||||||
3.25%, 09/01/28 |
200 | 170,714 | ||||||||||
Clydesdale Acquisition Holdings, Inc. (b) 6.63%, 04/15/29 |
481 | 451,962 | ||||||||||
8.75%, 04/15/30 |
256 | 220,818 | ||||||||||
Crown Americas LLC, 5.25%, 04/01/30 (b) |
91 | 85,313 | ||||||||||
Graphic Packaging International LLC (b) 4.75%, 07/15/27 |
53 | 50,042 | ||||||||||
3.50%, 03/15/28 |
11 | 9,460 | ||||||||||
International Paper Co., 6.00%, 11/15/41 |
870 | 903,092 | ||||||||||
Klabin Austria GmbH, 3.20%, 01/12/31 (b) |
200 | 152,250 | ||||||||||
LABL, Inc., 5.88%, 11/01/28 (b) |
176 | 142,107 | ||||||||||
Sealed Air Corp., 4.00%, 12/01/27 (b) |
49 | 44,174 | ||||||||||
Suzano Austria GmbH, 3.75%, 01/15/31 |
80 | 64,616 | ||||||||||
|
|
|||||||||||
2,690,440 | ||||||||||||
Diversified Consumer Services — 0.6% |
||||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp. (b) 6.63%, 07/15/26 |
748 | 686,387 | ||||||||||
9.75%, 07/15/27 |
200 | 169,268 | ||||||||||
6.00%, 06/01/29 |
939 | 681,875 | ||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28 (b) |
1,241 | 1,013,077 | ||||||||||
Clarivate Science Holdings Corp. (b) 3.88%, 07/01/28 |
406 | 339,216 | ||||||||||
4.88%, 07/01/29 |
297 | 243,837 | ||||||||||
Garda World Security Corp., 4.63%, 02/15/27 (b) |
81 | 69,660 | ||||||||||
Graham Holdings Co., 5.75%, 06/01/26 (b) |
27 | 26,730 | ||||||||||
Rekeep SpA, 7.25%, 02/01/26 (d) |
EUR | 100 | 90,293 | |||||||||
Service Corp. International, 4.00%, 05/15/31 |
USD | 394 | 336,378 | |||||||||
Sotheby’s, 7.38%, 10/15/27 (b) |
465 | 430,950 | ||||||||||
|
|
|||||||||||
4,087,671 | ||||||||||||
Diversified Financial Services — 4.8% |
||||||||||||
Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28 (b) |
272 | 225,711 | ||||||||||
ASG Finance Designated Activity Co., 7.88%, 12/03/24 (b) |
200 | 187,500 | ||||||||||
Bank of America Corp., 3.25%, 10/21/27 (e) |
4,000 | 3,759,667 | ||||||||||
Barclays PLC, 3.65%, 03/16/25 (e) |
4,320 | 4,224,511 |
20 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Diversified Financial Services (continued) |
| |||||||||
BNP Paribas S.A., (5 year CMT + 3.34%), 4.63% (a)(b)(h) |
USD | 2,000 | $ | 1,475,996 | ||||||
Castlelake Aviation Finance DAC, 5.00%, 04/15/27 (b) |
50 | 41,508 | ||||||||
Central Garden & Pet Co. |
||||||||||
4.13%, 10/15/30 |
116 | 95,179 | ||||||||
4.13%, 04/30/31 (b) |
119 | 95,529 | ||||||||
Citigroup, Inc. (a)(h) |
||||||||||
(5 year CMT + 3.42%), 3.88% |
3,160 | 2,622,800 | ||||||||
Series W, (5 year CMT + 3.60%), 4.00% |
105 | 90,825 | ||||||||
Series Y, (5 year CMT + 3.00%), 4.15% |
335 | 268,837 | ||||||||
Credit Agricole SA, (5 year USD Swap + 4.90%), 7.88% (a)(b)(h) |
1,000 | 986,230 | ||||||||
Garfunkelux Holdco 3 SA, 7.75%, 11/01/25 (d) |
GBP | 100 | 108,948 | |||||||
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24 (b)(i) |
USD | 217 | 164,309 | |||||||
Goldman Sachs Group, Inc. |
||||||||||
3.75%, 05/22/25 (e) |
8,965 | 8,857,815 | ||||||||
Series R, (5 year CMT + 3.22%), 4.95% (a)(h) |
465 | 418,654 | ||||||||
HSBC Holdings PLC |
||||||||||
6.10%, 01/14/42 |
610 | 670,054 | ||||||||
(5 year CMT + 3.25%), 4.70% (a)(h) |
275 | 206,802 | ||||||||
(5 year USD ICE Swap + 4.37%), 6.38% (a)(h) |
1,750 | 1,692,161 | ||||||||
Intrum AB, 3.00%, 09/15/27 (d) |
EUR | 100 | 80,550 | |||||||
ION Trading Technologies SARL, 5.75%, 05/15/28 (b) |
USD | 200 | 159,958 | |||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (b) |
220 | 180,950 | ||||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. (b) |
||||||||||
4.25%, 02/01/27 |
42 | 33,908 | ||||||||
4.75%, 06/15/29 |
46 | 35,394 | ||||||||
Lloyds Banking Group PLC, (5 year CMT + 4.82%), 6.75% (a)(h) |
595 | 560,085 | ||||||||
Morgan Stanley |
||||||||||
4.00%, 07/23/25 |
905 | 904,237 | ||||||||
3.13%, 07/27/26 |
2,000 | 1,907,891 | ||||||||
Operadora de Servicios Mega SA de CV Sofom ER, 8.25%, 02/11/25 (b) |
200 | 129,787 | ||||||||
Shriram Transport Finance Co. Ltd. (d) |
||||||||||
5.95%, 10/24/22 |
200 | 197,440 | ||||||||
5.10%, 07/16/23 |
200 | 192,000 | ||||||||
Spectrum Brands, Inc. (b) |
||||||||||
5.00%, 10/01/29 |
53 | 45,831 | ||||||||
5.50%, 07/15/30 |
104 | 93,596 | ||||||||
UBS Group AG, (5 year CMT + 3.31%), 4.38% (a)(b)(h) |
200 | 146,320 | ||||||||
|
|
|||||||||
30,860,983 | ||||||||||
Diversified Telecommunication Services — 3.2% |
||||||||||
AT&T, Inc. |
||||||||||
6.38%, 03/01/41 |
520 | 581,531 | ||||||||
5.15%, 03/15/42 |
1,200 | 1,151,343 | ||||||||
4.75%, 05/15/46 |
2,710 | 2,508,283 | ||||||||
3.65%, 06/01/51 |
350 | 273,745 | ||||||||
Consolidated Communications, Inc., 6.50%, 10/01/28 (b) |
229 | 194,783 | ||||||||
Frontier Communications Holdings LLC, 8.75%, 05/15/30 (b) |
201 | 203,209 | ||||||||
Level 3 Financing, Inc. (b) |
||||||||||
3.40%, 03/01/27 |
61 | 52,541 | ||||||||
4.25%, 07/01/28 |
403 | 322,904 |
Security |
Par (000) |
Value |
||||||||||
Diversified Telecommunication Services (continued) |
| |||||||||||
Level 3 Financing, Inc. (b) (continued) |
||||||||||||
3.63%, 01/15/29 |
USD | 108 | $ | 83,274 | ||||||||
3.75%, 07/15/29 |
243 | 187,889 | ||||||||||
Lumen Technologies, Inc. |
||||||||||||
5.13%, 12/15/26 (b) |
300 | 252,546 | ||||||||||
4.00%, 02/15/27 (b) |
228 | 192,831 | ||||||||||
4.50%, 01/15/29 (b) |
240 | 178,655 | ||||||||||
5.38%, 06/15/29 (b) |
412 | 326,211 | ||||||||||
Series U, 7.65%, 03/15/42 |
157 | 120,497 | ||||||||||
Series W, 6.75%, 12/01/23 |
74 | 73,307 | ||||||||||
Oi SA, (10.00% Cash or 8.00% Cash + 4.00% PIK), 10.00%, 07/27/25 (i) |
148 | 68,080 | ||||||||||
SoftBank Group Corp., 5.00%, 04/15/28 (d) |
EUR | 100 | 83,123 | |||||||||
Sprint Capital Corp. |
||||||||||||
6.88%, 11/15/28 |
USD | 977 | 1,027,335 | |||||||||
8.75%, 03/15/32 |
743 | 894,186 | ||||||||||
Switch Ltd. (b) |
||||||||||||
3.75%, 09/15/28 |
210 | 207,721 | ||||||||||
4.13%, 06/15/29 |
430 | 425,631 | ||||||||||
Telecom Italia Capital SA |
||||||||||||
6.38%, 11/15/33 |
131 | 101,158 | ||||||||||
6.00%, 09/30/34 |
337 | 254,189 | ||||||||||
7.20%, 07/18/36 |
60 | 45,555 | ||||||||||
7.72%, 06/04/38 |
79 | 60,949 | ||||||||||
Telecom Italia SpA (d) |
||||||||||||
3.00%, 09/30/25 |
EUR | 100 | 96,935 | |||||||||
1.63%, 01/18/29 |
200 | 151,345 | ||||||||||
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 01/15/30 (b) |
USD | 104 | 71,947 | |||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 4.75%, 04/15/28 (b) |
184 | 151,320 | ||||||||||
Verizon Communications, Inc., 6.55%, 09/15/43 (e) |
6,751 | 8,133,030 | ||||||||||
Zayo Group Holdings, Inc. (b) |
||||||||||||
4.00%, 03/01/27 |
1,080 | 895,957 | ||||||||||
6.13%, 03/01/28 |
1,192 | 860,755 | ||||||||||
|
|
|||||||||||
20,232,765 | ||||||||||||
Education — 0.1% |
||||||||||||
Grand Canyon University, 5.13%, 10/01/28 |
702 | 655,170 | ||||||||||
|
|
|||||||||||
Electric Utilities — 3.6% |
||||||||||||
Cleveland Electric Illuminating Co., 5.95%, 12/15/36 |
434 | 458,530 | ||||||||||
Duke Energy Carolinas LLC |
||||||||||||
6.10%, 06/01/37 |
640 | 703,802 | ||||||||||
6.00%, 01/15/38 (e) |
1,675 | 1,861,975 | ||||||||||
Duke Energy Florida LLC (e) |
||||||||||||
6.35%, 09/15/37 |
2,775 | 3,179,784 | ||||||||||
6.40%, 06/15/38 |
770 | 900,352 | ||||||||||
E.ON International Finance BV, 6.65%, 04/30/38 (b) |
3,100 | 3,386,366 | ||||||||||
Empresas Publicas de Medellin ESP, 4.25%, 07/18/29 (b) |
201 | 157,195 | ||||||||||
FirstEnergy Corp. |
||||||||||||
2.65%, 03/01/30 |
180 | 148,500 | ||||||||||
Series B, 2.25%, 09/01/30 |
14 | 11,095 | ||||||||||
Series C, 3.40%, 03/01/50 |
488 | 330,815 | ||||||||||
FirstEnergy Transmission LLC (b) |
||||||||||||
5.45%, 07/15/44 |
391 | 365,472 | ||||||||||
4.55%, 04/01/49 |
109 | 87,704 | ||||||||||
NextEra Energy Operating Partners LP, 4.25%, 09/15/24 (b) |
3 | 2,858 | ||||||||||
Ohio Power Co., Series D, 6.60%, 03/01/33 |
3,000 | 3,498,962 | ||||||||||
Oncor Electric Delivery Co. LLC, 2.75%, 05/15/30 (e) |
1,150 | 1,046,703 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Electric Utilities (continued) |
||||||||||||
PacifiCorp., 6.25%, 10/15/37 |
USD | 1,225 | $ | 1,380,105 | ||||||||
Public Power Corp. SA, 3.88%, 03/30/26 (d) |
EUR | 100 | 91,329 | |||||||||
Southern California Edison Co., 5.63%, 02/01/36 |
USD | 1,300 | 1,309,448 | |||||||||
Virginia Electric & Power Co., Series A, 6.00%, 05/15/37 (e) |
3,920 | 4,347,693 | ||||||||||
|
|
|||||||||||
23,268,688 | ||||||||||||
Electrical Equipment (b) — 0.0% |
||||||||||||
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 |
256 | 237,440 | ||||||||||
GrafTech Finance, Inc., 4.63%, 12/15/28 |
91 | 73,664 | ||||||||||
|
|
|||||||||||
311,104 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.4% |
||||||||||||
BWX Technologies, Inc. (b) |
||||||||||||
4.13%, 06/30/28 |
181 | 161,090 | ||||||||||
4.13%, 04/15/29 |
24 | 21,060 | ||||||||||
Corning, Inc., 4.38%, 11/15/57 |
2,000 | 1,636,257 | ||||||||||
Energizer Holdings, Inc. (b) |
||||||||||||
4.75%, 06/15/28 |
31 | 24,605 | ||||||||||
4.38%, 03/31/29 |
13 | 9,981 | ||||||||||
Imola Merger Corp., 4.75%, 05/15/29 (b) |
203 | 169,842 | ||||||||||
Vertiv Group Corp., 4.13%, 11/15/28 (b) |
462 | 375,107 | ||||||||||
Xerox Corp., 4.80%, 03/01/35 |
34 | 26,090 | ||||||||||
|
|
|||||||||||
2,424,032 | ||||||||||||
Energy Equipment & Services — 0.3% |
||||||||||||
Archrock Partners LP/Archrock Partners Finance Corp. (b) |
||||||||||||
6.88%, 04/01/27 |
227 | 206,995 | ||||||||||
6.25%, 04/01/28 |
447 | 395,729 | ||||||||||
Halliburton Co., 5.00%, 11/15/45 |
500 | 458,503 | ||||||||||
Petroleos Mexicanos |
||||||||||||
8.75%, 06/02/29 (b) |
156 | 139,552 | ||||||||||
6.70%, 02/16/32 |
130 | 98,475 | ||||||||||
USA Compression Partners LP/USA Compression Finance Corp. |
||||||||||||
6.88%, 04/01/26 |
188 | 171,024 | ||||||||||
6.88%, 09/01/27 |
259 | 229,862 | ||||||||||
Vallourec SA, 8.50%, 06/30/26 (d) |
EUR | 17 | 16,452 | |||||||||
Weatherford International Ltd. (b) |
||||||||||||
6.50%, 09/15/28 |
USD | 9 | 8,077 | |||||||||
8.63%, 04/30/30 |
140 | 116,170 | ||||||||||
|
|
|||||||||||
1,840,839 | ||||||||||||
Entertainment (b) — 0.0% |
||||||||||||
AMC Entertainment Holdings, Inc., 7.50%, 02/15/29 |
86 | 72,670 | ||||||||||
Lindblad Expeditions LLC, 6.75%, 02/15/27 |
178 | 152,635 | ||||||||||
NCL Corp. Ltd., 7.75%, 02/15/29 |
74 | 56,610 | ||||||||||
|
|
|||||||||||
281,915 | ||||||||||||
Environmental, Maintenance & Security Service — 0.3% |
||||||||||||
Clean Harbors, Inc., 5.13%, 07/15/29(b) |
109 | 98,918 | ||||||||||
Covanta Holding Corp. |
||||||||||||
4.88%, 12/01/29 (b) |
167 | 135,891 | ||||||||||
5.00%, 09/01/30 |
30 | 24,489 | ||||||||||
GFL Environmental, Inc. (b) |
||||||||||||
4.25%, 06/01/25 |
98 | 92,485 | ||||||||||
3.75%, 08/01/25 |
8 | 7,420 | ||||||||||
5.13%, 12/15/26 |
135 | 129,100 | ||||||||||
4.00%, 08/01/28 |
294 | 242,550 | ||||||||||
3.50%, 09/01/28 |
131 | 112,333 | ||||||||||
4.75%, 06/15/29 |
287 | 237,492 | ||||||||||
4.38%, 08/15/29 |
211 | 169,855 |
Security |
Par (000) |
Value |
||||||||
Environmental, Maintenance & Security Service (continued) |
| |||||||||
Stericycle, Inc., 3.88%, 01/15/29 (b) |
USD | 92 | $ | 75,210 | ||||||
Tervita Corp., 11.00%, 12/01/25 (b) |
77 | 83,738 | ||||||||
Waste Pro USA, Inc., 5.50%, 02/15/26 (b) |
358 | 318,011 | ||||||||
|
|
|||||||||
1,727,492 | ||||||||||
Equity Real Estate Investment Trusts (REITs) — 1.5% |
||||||||||
Alexandria Real Estate Equities, Inc., 4.00%, 02/01/50 |
550 | 453,626 | ||||||||
American Tower Corp., 2.10%, 06/15/30 (e) |
1,700 | 1,361,448 | ||||||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 4.50%, 04/01/27 (b) |
120 | 99,508 | ||||||||
Crown Castle International Corp., 2.90%, 04/01/41 |
350 | 252,265 | ||||||||
CTR Partnership LP/CareTrust Capital Corp., 3.88%, 06/30/28 (b) |
110 | 93,940 | ||||||||
ERP Operating LP, 4.50%, 06/01/45 |
1,155 | 1,073,868 | ||||||||
Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27 (b) |
95 | 79,391 | ||||||||
Healthpeak Properties, Inc., 4.00%, 06/01/25 |
2,000 | 1,994,155 | ||||||||
Iron Mountain, Inc. (b) |
||||||||||
5.25%, 07/15/30 |
66 | 57,380 | ||||||||
5.63%, 07/15/32 |
236 | 199,556 | ||||||||
LMIRT Capital Pte. Ltd., 7.25%, 06/19/24 (d) |
250 | 217,500 | ||||||||
MPT Operating Partnership LP/MPT Finance Corp. |
||||||||||
5.00%, 10/15/27 |
28 | 25,611 | ||||||||
4.63%, 08/01/29 |
400 | 351,000 | ||||||||
3.50%, 03/15/31 |
988 | 778,702 | ||||||||
RHP Hotel Properties LP/RHP Finance Corp. |
||||||||||
4.75%, 10/15/27 |
446 | 395,651 | ||||||||
4.50%, 02/15/29 (b) |
4 | 3,392 | ||||||||
RLJ Lodging Trust LP (b) |
||||||||||
3.75%, 07/01/26 |
76 | 65,859 | ||||||||
4.00%, 09/15/29 |
66 | 54,213 | ||||||||
Simon Property Group LP, 4.75%, 03/15/42 |
1,670 | 1,527,219 | ||||||||
Ventas Realty LP, 4.13%, 01/15/26 |
870 | 860,662 | ||||||||
|
|
|||||||||
9,944,946 | ||||||||||
Food & Staples Retailing — 0.5% |
||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC (b) |
||||||||||
3.25%, 03/15/26 |
94 | 81,869 | ||||||||
7.50%, 03/15/26 |
65 | 64,657 | ||||||||
4.63%, 01/15/27 |
104 | 92,905 | ||||||||
5.88%, 02/15/28 |
219 | 204,684 | ||||||||
4.88%, 02/15/30 |
95 | 81,495 | ||||||||
Bellis Acquisition Co. PLC, 3.25%, 02/16/26 (d) |
GBP | 100 | 94,341 | |||||||
Darling Ingredients, Inc., 6.00%, 06/15/30 (b) |
USD | 212 | 211,290 | |||||||
Kraft Heinz Foods Co. |
||||||||||
6.50%, 02/09/40 |
110 | 118,865 | ||||||||
4.88%, 10/01/49 |
266 | 234,945 | ||||||||
5.50%, 06/01/50 |
565 | 542,351 | ||||||||
Lamb Weston Holdings, Inc. (b) |
||||||||||
4.88%, 05/15/28 |
95 | 89,406 | ||||||||
4.13%, 01/31/30 |
172 | 148,876 | ||||||||
4.38%, 01/31/32 |
317 | 275,790 | ||||||||
Market Bidco Finco PLC, 5.50%, 11/04/27 (d) |
GBP | 100 | 92,515 | |||||||
Ocado Group PLC, 3.88%, 10/08/26 (d) |
100 | 97,624 | ||||||||
Performance Food Group, Inc. (b) |
||||||||||
5.50%, 10/15/27 |
USD | 28 | 25,921 | |||||||
4.25%, 08/01/29 |
349 | 291,415 | ||||||||
Post Holdings, Inc. (b) |
||||||||||
5.50%, 12/15/29 |
22 | 19,668 |
22 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Food & Staples Retailing (continued) |
||||||||||||
Post Holdings, Inc. (b) (continued) |
||||||||||||
4.63%, 04/15/30 |
USD | 47 | $ | 39,657 | ||||||||
4.50%, 09/15/31 |
28 | 22,900 | ||||||||||
U.S. Foods, Inc., 4.75%, 02/15/29 (b) |
218 | 190,573 | ||||||||||
|
|
|||||||||||
3,021,747 | ||||||||||||
Food Products — 0.3% |
||||||||||||
Aramark Services, Inc. (b) |
||||||||||||
5.00%, 04/01/25 |
46 | 44,075 | ||||||||||
5.00%, 02/01/28 |
323 | 292,706 | ||||||||||
BRF SA, 4.88%, 01/24/30 (d) |
200 | 158,600 | ||||||||||
Chobani LLC/Chobani Finance Corp., Inc. (b) |
||||||||||||
7.50%, 04/15/25 |
501 | 460,103 | ||||||||||
4.63%, 11/15/28 |
248 | 209,560 | ||||||||||
Grupo Bimbo SAB de CV, (5 year CMT + 3.28%), 5.95% (a)(b)(h) |
200 | 195,500 | ||||||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 3.75%, 12/01/31 (b) |
233 | 191,150 | ||||||||||
Pilgrim’s Pride Corp., 3.50%, 03/01/32 (b) |
117 | 91,406 | ||||||||||
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/29 (b) |
177 | 149,636 | ||||||||||
|
|
|||||||||||
1,792,736 | ||||||||||||
Gas Utilities — 0.0% |
||||||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31 (b) |
62 | 52,723 | ||||||||||
|
|
|||||||||||
Health Care Equipment & Supplies — 0.3% |
||||||||||||
Avantor Funding, Inc. (b) |
||||||||||||
4.63%, 07/15/28 |
442 | 405,182 | ||||||||||
3.88%, 11/01/29 |
196 | 171,431 | ||||||||||
Embecta Corp., 6.75%, 02/15/30 (b) |
104 | 93,634 | ||||||||||
Hologic, Inc., 3.25%, 02/15/29 (b) |
10 | 8,547 | ||||||||||
Thermo Fisher Scientific, Inc., 5.30%, 02/01/44 |
1,000 | 1,072,298 | ||||||||||
|
|
|||||||||||
1,751,092 | ||||||||||||
Health Care Providers & Services — 2.1% |
||||||||||||
Acadia Healthcare Co., Inc. (b) |
||||||||||||
5.50%, 07/01/28 |
37 | 34,569 | ||||||||||
5.00%, 04/15/29 |
36 | 32,318 | ||||||||||
AdaptHealth LLC (b) |
||||||||||||
6.13%, 08/01/28 |
49 | 43,342 | ||||||||||
5.13%, 03/01/30 |
18 | 15,172 | ||||||||||
Aetna, Inc., 4.50%, 05/15/42 |
575 | 514,041 | ||||||||||
AHP Health Partners, Inc., 5.75%, 07/15/29 (b) |
219 | 160,899 | ||||||||||
Cano Health LLC, 6.25%, 10/01/28 (b) |
85 | 69,513 | ||||||||||
Centene Corp. |
||||||||||||
2.45%, 07/15/28 |
695 | 579,658 | ||||||||||
4.63%, 12/15/29 |
155 | 144,538 | ||||||||||
3.00%, 10/15/30 |
621 | 514,654 | ||||||||||
2.50%, 03/01/31 |
704 | 558,807 | ||||||||||
2.63%, 08/01/31 |
570 | 453,435 | ||||||||||
CHS/Community Health Systems, Inc. (b) |
||||||||||||
8.00%, 03/15/26 |
838 | 763,158 | ||||||||||
5.63%, 03/15/27 |
374 | 316,542 | ||||||||||
6.00%, 01/15/29 |
332 | 275,035 | ||||||||||
6.13%, 04/01/30 |
203 | 123,830 | ||||||||||
Elevance Health, Inc. |
||||||||||||
2.75%, 10/15/42 (f) |
39 | 267,556 | ||||||||||
4.38%, 12/01/47 |
1,000 | 920,371 | ||||||||||
3.60%, 03/15/51 |
600 | 486,881 |
Security |
Par (000) |
Value |
||||||||||
Health Care Providers & Services (continued) |
||||||||||||
Encompass Health Corp. |
||||||||||||
4.50%, 02/01/28 |
USD | 31 | $ | 26,539 | ||||||||
4.75%, 02/01/30 |
285 | 238,841 | ||||||||||
4.63%, 04/01/31 |
141 | 114,171 | ||||||||||
HCA, Inc., 5.50%, 06/15/47 |
1,090 | 972,316 | ||||||||||
Legacy LifePoint Health LLC (b) |
||||||||||||
6.75%, 04/15/25 |
130 | 125,659 | ||||||||||
4.38%, 02/15/27 |
65 | 55,693 | ||||||||||
LifePoint Health, Inc., 5.38%, 01/15/29 (b) |
243 | 178,605 | ||||||||||
Medline Borrower LP (b) |
||||||||||||
3.88%, 04/01/29 |
322 | 274,251 | ||||||||||
5.25%, 10/01/29 |
919 | 754,775 | ||||||||||
ModivCare, Inc., 5.88%, 11/15/25 (b) |
48 | 44,160 | ||||||||||
Molina Healthcare, Inc. (b) |
||||||||||||
4.38%, 06/15/28 |
123 | 109,872 | ||||||||||
3.88%, 11/15/30 |
275 | 235,065 | ||||||||||
3.88%, 05/15/32 |
161 | 135,012 | ||||||||||
Northwell Healthcare, Inc., 4.26%, 11/01/47 |
725 | 664,513 | ||||||||||
Owens & Minor, Inc., 6.63%, 04/01/30 (b) |
96 | 87,693 | ||||||||||
Prime Healthcare Services, Inc., 7.25%, 11/01/25 (b) |
195 | 166,433 | ||||||||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/26 (b) |
68 | 66,130 | ||||||||||
Surgery Center Holdings, Inc. (b) |
||||||||||||
6.75%, 07/01/25 |
378 | 346,452 | ||||||||||
10.00%, 04/15/27 |
435 | 421,361 | ||||||||||
Teleflex, Inc., 4.63%, 11/15/27 |
14 | 12,915 | ||||||||||
Tenet Healthcare Corp. (b) |
||||||||||||
4.63%, 09/01/24 |
98 | 94,080 | ||||||||||
4.88%, 01/01/26 |
330 | 303,600 | ||||||||||
6.25%, 02/01/27 |
65 | 59,827 | ||||||||||
5.13%, 11/01/27 |
363 | 326,700 | ||||||||||
4.63%, 06/15/28 |
55 | 47,893 | ||||||||||
6.13%, 10/01/28 |
122 | 104,405 | ||||||||||
4.25%, 06/01/29 |
34 | 28,635 | ||||||||||
6.13%, 06/15/30 |
193 | 178,058 | ||||||||||
UnitedHealth Group, Inc., 2.75%, 05/15/40 |
1,000 | 778,855 | ||||||||||
|
|
|||||||||||
13,226,828 | ||||||||||||
Health Care Technology — 0.4% |
||||||||||||
Catalent Pharma Solutions, Inc. (b) |
||||||||||||
3.13%, 02/15/29 |
106 | 86,966 | ||||||||||
3.50%, 04/01/30 |
373 | 304,342 | ||||||||||
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25 (b) |
479 | 466,397 | ||||||||||
Charles River Laboratories International, Inc. (b) |
||||||||||||
4.25%, 05/01/28 |
67 | 60,187 | ||||||||||
3.75%, 03/15/29 |
23 | 19,960 | ||||||||||
4.00%, 03/15/31 |
66 | 56,261 | ||||||||||
Chrome Bidco SASU, 3.50%, 05/31/28 (d) |
EUR | 100 | 85,755 | |||||||||
IQVIA, Inc. (b) |
||||||||||||
5.00%, 10/15/26 |
USD | 280 | 266,652 | |||||||||
5.00%, 05/15/27 |
266 | 251,663 | ||||||||||
Minerva Merger Sub, Inc., 6.50%, 02/15/30 (b) |
552 | 459,038 | ||||||||||
Syneos Health, Inc., 3.63%, 01/15/29 (b) |
577 | 488,620 | ||||||||||
|
|
|||||||||||
2,545,841 | ||||||||||||
Hotels, Restaurants & Leisure — 2.2% |
||||||||||||
1011778 BC ULC/New Red Finance, Inc. (b) |
||||||||||||
3.88%, 01/15/28 |
317 | 275,131 | ||||||||||
4.38%, 01/15/28 |
138 | 120,653 | ||||||||||
4.00%, 10/15/30 |
122 | 97,905 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Hotels, Restaurants & Leisure (continued) |
||||||||||
Accor SA, (5 year EUR Swap + 4.56%), 4.38% (a)(d)(h) |
EUR | 100 | $ | 91,174 | ||||||
Affinity Gaming, 6.88%, 12/15/27 (b) |
USD | 4 | 3,360 | |||||||
Airbnb, Inc., 0.00%, 03/15/26 (f)(g) |
383 | 318,273 | ||||||||
Boyd Gaming Corp. |
||||||||||
4.75%, 12/01/27 |
121 | 109,505 | ||||||||
4.75%, 06/15/31 (b) |
219 | 185,059 | ||||||||
Boyne USA, Inc., 4.75%, 05/15/29 (b) |
200 | 173,188 | ||||||||
Caesars Entertainment, Inc. (b) |
||||||||||
6.25%, 07/01/25 |
840 | 809,533 | ||||||||
8.13%, 07/01/27 |
876 | 846,435 | ||||||||
4.63%, 10/15/29 |
697 | 541,917 | ||||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25 (b) |
103 | 98,500 | ||||||||
Carnival Corp., 7.63%, 03/01/26 (b) |
48 | 37,178 | ||||||||
CDI Escrow Issuer, Inc., 5.75%, 04/01/30 (b) |
868 | 789,880 | ||||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25 (b) |
213 | 206,610 | ||||||||
Churchill Downs, Inc., 4.75%, 01/15/28 (b) |
202 | 179,780 | ||||||||
Corvias Campus Living, 5.30%, 07/01/50 (c) |
5,620 | 3,427,098 | ||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc. (b) |
||||||||||
4.63%, 01/15/29 |
156 | 132,990 | ||||||||
6.75%, 01/15/30 |
199 | 152,733 | ||||||||
Food Service Project SA, 5.50%, 01/21/27 (d) |
EUR | 100 | 89,862 | |||||||
Fortune Star BVI Ltd., 6.75%, 07/02/23 (d) |
USD | 200 | 157,175 | |||||||
Hilton Domestic Operating Co., Inc. |
||||||||||
5.38%, 05/01/25 (b) |
39 | 38,220 | ||||||||
3.75%, 05/01/29 (b) |
75 | 63,611 | ||||||||
4.88%, 01/15/30 |
219 | 197,921 | ||||||||
4.00%, 05/01/31 (b) |
289 | 240,159 | ||||||||
3.63%, 02/15/32 (b) |
77 | 61,167 | ||||||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 |
44 | 41,454 | ||||||||
McDonald’s Corp., 3.70%, 02/15/42 |
1,750 | 1,463,404 | ||||||||
Melco Resorts Finance Ltd., 5.25%, 04/26/26 (d) |
250 | 175,000 | ||||||||
Merlin Entertainments Ltd., 5.75%, 06/15/26 (b) |
200 | 182,501 | ||||||||
MGM China Holdings Ltd., 5.88%, 05/15/26 (d) |
450 | 341,663 | ||||||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29 (b) |
144 | 117,360 | ||||||||
Powdr Corp., 6.00%, 08/01/25 (b) |
240 | 238,200 | ||||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. (b) |
||||||||||
5.63%, 09/01/29 |
63 | 44,853 | ||||||||
5.88%, 09/01/31 |
79 | 54,827 | ||||||||
Raptor Acquisition Corp./Raptor Co-Issuer LLC, 4.88%, 11/01/26 (b) |
121 | 105,875 | ||||||||
Royal Caribbean Cruises Ltd., 5.38%, 07/15/27 (b) |
191 | 138,832 | ||||||||
Scientific Games International, Inc. (b) |
||||||||||
8.63%, 07/01/25 |
136 | 139,414 | ||||||||
7.00%, 05/15/28 |
100 | 93,843 | ||||||||
7.25%, 11/15/29 |
96 | 90,030 | ||||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25 (b)(j) |
135 | 136,665 | ||||||||
Station Casinos LLC (b) |
||||||||||
4.50%, 02/15/28 |
123 | 103,887 | ||||||||
4.63%, 12/01/31 |
187 | 145,860 | ||||||||
Stonegate Pub Co. Financing PLC, 8.25%, 07/31/25 (d) |
GBP | 100 | 111,170 |
Security |
Par (000) |
Value |
||||||||||
Hotels, Restaurants & Leisure (continued) |
||||||||||||
Vail Resorts, Inc., 6.25%, 05/15/25 (b) |
USD | 105 | $ | 104,871 | ||||||||
Wyndham Hotels & Resorts, Inc., 4.38%, 08/15/28 (b) |
104 | 90,965 | ||||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27 (b)(e) |
125 | 107,061 | ||||||||||
Wynn Macau Ltd. (d) |
||||||||||||
4.88%, 10/01/24 |
200 | 145,124 | ||||||||||
5.50%, 10/01/27 |
200 | 128,000 | ||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. (b) |
||||||||||||
7.75%, 04/15/25 |
163 | 158,641 | ||||||||||
5.13%, 10/01/29 |
393 | 309,527 | ||||||||||
Yum! Brands, Inc. |
||||||||||||
4.75%, 01/15/30 (b) |
2 | 1,815 | ||||||||||
3.63%, 03/15/31 |
62 | 52,080 | ||||||||||
5.35%, 11/01/43 |
44 | 36,465 | ||||||||||
|
|
|||||||||||
14,304,404 | ||||||||||||
Household Durables — 0.3% |
||||||||||||
Ashton Woods USA LLC/Ashton Woods Finance Co. (b) |
||||||||||||
4.63%, 08/01/29 |
68 | 51,000 | ||||||||||
4.63%, 04/01/30 |
98 | 71,966 | ||||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC (b) |
||||||||||||
5.00%, 06/15/29 |
141 | 106,606 | ||||||||||
4.88%, 02/15/30 |
178 | 129,317 | ||||||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25 (b) |
173 | 152,946 | ||||||||||
Controladora Mabe SA de CV, 5.60%, 10/23/28 (b) |
215 | 218,333 | ||||||||||
K Hovnanian Enterprises, Inc., 7.75%, 02/15/26 (b) |
147 | 144,060 | ||||||||||
Mattamy Group Corp., 4.63%, 03/01/30 (b) |
135 | 98,660 | ||||||||||
Meritage Homes Corp., 5.13%, 06/06/27 |
35 | 32,037 | ||||||||||
NCR Corp. (b) |
||||||||||||
5.00%, 10/01/28 |
73 | 61,896 | ||||||||||
5.13%, 04/15/29 |
91 | 76,962 | ||||||||||
6.13%, 09/01/29 |
57 | 49,297 | ||||||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29 (b) |
223 | 149,968 | ||||||||||
Taylor Morrison Communities, Inc. (b) |
||||||||||||
5.88%, 06/15/27 |
119 | 109,683 | ||||||||||
5.13%, 08/01/30 |
37 | 30,728 | ||||||||||
Tempur Sealy International, Inc. (b) |
||||||||||||
4.00%, 04/15/29 |
151 | 121,637 | ||||||||||
3.88%, 10/15/31 |
164 | 123,000 | ||||||||||
Tri Pointe Homes, Inc., 5.25%, 06/01/27 |
28 | 24,476 | ||||||||||
|
|
|||||||||||
1,752,572 | ||||||||||||
Household Products — 0.0% |
||||||||||||
Energizer Holdings, Inc., 6.50%, 12/31/27 (b) |
80 | 70,100 | ||||||||||
|
|
|||||||||||
Independent Power and Renewable Electricity Producers — 0.5% |
||||||||||||
Adani Green Energy UP Ltd./Prayatna Developers Pvt Ltd./Parampujya Solar Energy, 6.25%, 12/10/24 (d) |
200 | 190,725 | ||||||||||
Azure Power Solar Energy Pvt Ltd., 5.65%, 12/24/24 (d) |
200 | 188,662 | ||||||||||
Calpine Corp. (b) |
||||||||||||
4.50%, 02/15/28 |
20 | 18,158 | ||||||||||
5.13%, 03/15/28 |
539 | 474,482 | ||||||||||
4.63%, 02/01/29 |
46 | 38,284 | ||||||||||
5.00%, 02/01/31 |
41 | 33,146 |
24 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Independent Power and Renewable Electricity Producers (continued) |
||||||||||||
Calpine Corp. (b) (continued) |
||||||||||||
3.75%, 03/01/31 |
USD | 4 | $ | 3,254 | ||||||||
Clearway Energy Operating LLC (b) |
||||||||||||
4.75%, 03/15/28 |
100 | 89,968 | ||||||||||
3.75%, 01/15/32 |
203 | 160,878 | ||||||||||
Continuum Energy Levanter Pte. Ltd., 4.50%, 02/09/27 (b) |
197 | 153,855 | ||||||||||
Greenko Dutch BV, 3.85%, 03/29/26 (d) |
194 | 164,415 | ||||||||||
Greenko Solar Mauritius Ltd., 5.95%, 07/29/26 (d) |
200 | 176,500 | ||||||||||
India Cleantech Energy, 4.70%, 08/10/26 (b) |
243 | 193,483 | ||||||||||
India Green Energy Holdings |
||||||||||||
5.38%, 04/29/24 (b) |
250 | 233,750 | ||||||||||
5.38%, 04/29/24 (d) |
250 | 233,750 | ||||||||||
Investment Energy Resources Ltd., 6.25%, 04/26/29 (b) |
200 | 169,600 | ||||||||||
NRG Energy, Inc. (b) |
||||||||||||
5.25%, 06/15/29 |
47 | 41,948 | ||||||||||
3.63%, 02/15/31 |
183 | 143,470 | ||||||||||
3.88%, 02/15/32 |
164 | 130,262 | ||||||||||
SCC Power PLC (b)(i) |
||||||||||||
(4% PIK), 4.00%, 05/17/32 |
130 | 15,379 | ||||||||||
(8.00% Cash or 4.00% Cash + 4.00% PIK), 8.00%, 12/31/28 |
239 | 103,336 | ||||||||||
TerraForm Power Operating LLC, 4.75%, 01/15/30 (b) |
121 | 103,635 | ||||||||||
|
|
|||||||||||
3,060,940 | ||||||||||||
Insurance — 3.5% |
||||||||||||
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29 (b) |
140 | 109,591 | ||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer (b) |
||||||||||||
4.25%, 10/15/27 |
786 | 680,338 | ||||||||||
6.75%, 10/15/27 |
1,136 | 1,008,064 | ||||||||||
5.88%, 11/01/29 |
845 | 701,189 | ||||||||||
Allied World Assurance Co. Holdings Ltd., 4.35%, 10/29/25 |
1,495 | 1,474,712 | ||||||||||
Allstate Corp. (a) |
||||||||||||
(3 mo. LIBOR US + 2.12%), 6.50%, 05/15/67 |
1,750 | 1,769,814 | ||||||||||
Series B, (3 mo. LIBOR US + 2.94%), 5.75%, 08/15/53 |
2,000 | 1,752,500 | ||||||||||
AmWINS Group, Inc., 4.88%, 06/30/29 (b) |
164 | 134,303 | ||||||||||
Aon Global Ltd. |
||||||||||||
3.88%, 12/15/25 |
1,445 | 1,429,064 | ||||||||||
4.60%, 06/14/44 |
500 | 450,255 | ||||||||||
Berkshire Hathaway Finance Corp., 4.40%, 05/15/42 |
500 | 470,732 | ||||||||||
Five Corners Funding Trust, 4.42%, 11/15/23 (b)(e) |
2,050 | 2,061,278 | ||||||||||
Galaxy Bidco Ltd., 6.50%, 07/31/26 (d) |
GBP | 100 | 111,383 | |||||||||
GTCR AP Finance, Inc., 8.00%, 05/15/27 (b) |
USD | 161 | 150,720 | |||||||||
HUB International Ltd. (b) |
||||||||||||
7.00%, 05/01/26 |
900 | 846,360 | ||||||||||
5.63%, 12/01/29 |
35 | 28,912 | ||||||||||
Liberty Mutual Group, Inc., 6.50%, 05/01/42 (b) |
2,000 | 2,228,170 | ||||||||||
Prudential Financial, Inc. (e) |
||||||||||||
5.90%, 03/17/36 |
500 | 538,387 | ||||||||||
5.70%, 12/14/36 |
1,625 | 1,765,648 |
Security |
Par (000) |
Value |
||||||||||
Insurance (continued) |
||||||||||||
Ryan Specialty Group LLC, 4.38%, 02/01/30 (b) |
USD | 92 | $ | 80,040 | ||||||||
Teachers Insurance & Annuity Association of America, 4.27%, 05/15/47 (b) |
700 | 623,064 | ||||||||||
Voya Financial, Inc., (3 mo. LIBOR US + 3.58%), 5.65%, 05/15/53 (a)(e) |
4,500 | 4,219,110 | ||||||||||
|
|
|||||||||||
22,633,634 | ||||||||||||
Interactive Media & Services (b) — 0.2% |
||||||||||||
Arches Buyer, Inc., 4.25%, 06/01/28 |
73 | 59,437 | ||||||||||
Cablevision Lightpath LLC |
||||||||||||
3.88%, 09/15/27 |
420 | 347,550 | ||||||||||
5.63%, 09/15/28 |
400 | 312,904 | ||||||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc. |
||||||||||||
4.75%, 04/30/27 |
328 | 270,125 | ||||||||||
6.00%, 02/15/28 |
147 | 105,636 | ||||||||||
Twitter, Inc. |
||||||||||||
3.88%, 12/15/27 |
206 | 194,208 | ||||||||||
5.00%, 03/01/30 |
122 | 115,747 | ||||||||||
|
|
|||||||||||
1,405,607 | ||||||||||||
Internet Software & Services — 0.4% |
||||||||||||
ANGI Group LLC, 3.88%, 08/15/28 (b) |
174 | 132,483 | ||||||||||
Booking Holdings, Inc., 0.75%, 05/01/25 (f) |
256 | 306,893 | ||||||||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc. (b) |
||||||||||||
5.25%, 12/01/27 |
27 | 24,705 | ||||||||||
3.50%, 03/01/29 |
111 | 93,583 | ||||||||||
Match Group Holdings II LLC (b) |
||||||||||||
5.63%, 02/15/29 |
6 | 5,610 | ||||||||||
4.13%, 08/01/30 |
20 | 16,702 | ||||||||||
3.63%, 10/01/31 |
357 | 281,137 | ||||||||||
Uber Technologies, Inc. |
||||||||||||
0.00%, 12/15/25 (f)(g) |
1,068 | 851,962 | ||||||||||
8.00%, 11/01/26 (b) |
132 | 131,406 | ||||||||||
7.50%, 09/15/27 (b) |
456 | 441,764 | ||||||||||
6.25%, 01/15/28 (b) |
190 | 175,720 | ||||||||||
4.50%, 08/15/29 (b) |
518 | 426,055 | ||||||||||
Zillow Group, Inc., 1.38%, 09/01/26 (f) |
37 | 36,963 | ||||||||||
|
|
|||||||||||
2,924,983 | ||||||||||||
IT Services — 1.0% |
||||||||||||
Ahead DB Holdings LLC, 6.63%, 05/01/28 (b) |
99 | 82,071 | ||||||||||
Booz Allen Hamilton, Inc. (b) |
||||||||||||
3.88%, 09/01/28 |
137 | 121,245 | ||||||||||
4.00%, 07/01/29 |
242 | 211,007 | ||||||||||
CA Magnum Holdings, 5.38%, 10/31/26 (b) |
258 | 223,170 | ||||||||||
Camelot Finance SA, 4.50%, 11/01/26 (b) |
81 | 73,880 | ||||||||||
Condor Merger Sub, Inc., 7.38%, 02/15/30 (b) |
605 | 491,726 | ||||||||||
Dun & Bradstreet Corp., 5.00%, 12/15/29 (b) |
458 | 395,598 | ||||||||||
Fair Isaac Corp., 4.00%, 06/15/28 (b) |
240 | 212,602 | ||||||||||
Fidelity National Information Services, Inc., 4.50%, 08/15/46 |
1,000 | 881,391 | ||||||||||
Fiserv, Inc., 4.40%, 07/01/49 |
500 | 429,706 | ||||||||||
Gartner, Inc. (b) |
||||||||||||
4.50%, 07/01/28 |
218 | 200,169 | ||||||||||
3.63%, 06/15/29 |
155 | 134,287 | ||||||||||
3.75%, 10/01/30 |
93 | 79,166 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
IT Services (continued) |
||||||||||||
International Business Machines Corp., 1.95%, 05/15/30 (e) |
USD | 2,000 | $ | 1,676,074 | ||||||||
KBR, Inc., 4.75%, 09/30/28 (b) |
134 | 118,099 | ||||||||||
Science Applications International Corp., 4.88%, 04/01/28 (b) |
73 | 68,073 | ||||||||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 5.75%, 06/01/25 (b) |
168 | 158,043 | ||||||||||
Twilio, Inc., 3.88%, 03/15/31 |
342 | 281,387 | ||||||||||
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29 (b) |
646 | 541,117 | ||||||||||
|
|
|||||||||||
6,378,811 | ||||||||||||
Leisure Products — 0.1% |
||||||||||||
Mattel, Inc. |
||||||||||||
3.75%, 04/01/29 (b) |
69 | 62,003 | ||||||||||
6.20%, 10/01/40 |
218 | 208,190 | ||||||||||
5.45%, 11/01/41 |
149 | 130,785 | ||||||||||
|
|
|||||||||||
400,978 | ||||||||||||
Machinery — 0.4% |
||||||||||||
ATS Automation Tooling Systems, Inc., 4.13%, 12/15/28 (b) |
71 | 59,285 | ||||||||||
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25 (b)(i) |
241 | 233,770 | ||||||||||
Madison IAQ LLC, 5.88%, 06/30/29 (b) |
201 | 154,030 | ||||||||||
Mueller Water Products, Inc., 4.00%, 06/15/29 (b) |
94 | 82,000 | ||||||||||
OT Merger Corp., 7.88%, 10/15/29 (b) |
78 | 44,799 | ||||||||||
Schenck Process Holding GmbH/Darmstadt, 5.38%, 06/15/23 (d) |
EUR | 100 | 100,819 | |||||||||
Stevens Holding Co., Inc., 6.13%, 10/01/26 (b) |
USD | 90 | 86,625 | |||||||||
Terex Corp., 5.00%, 05/15/29 (b) |
205 | 174,250 | ||||||||||
Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26 (b) |
514 | 472,469 | ||||||||||
TK Elevator Holdco GmbH, 7.63%, 07/15/28 (b) |
200 | 179,500 | ||||||||||
TK Elevator Midco GmbH, 4.38%, 07/15/27 (d) |
EUR | 100 | 90,280 | |||||||||
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27 (b) |
USD | 768 | 684,722 | |||||||||
|
|
|||||||||||
2,362,549 | ||||||||||||
Media — 6.4% |
||||||||||||
Altice Financing SA |
||||||||||||
3.00%, 01/15/28 (d) |
EUR | 100 | 78,054 | |||||||||
5.75%, 08/15/29 (b) |
USD | 930 | 746,325 | |||||||||
Altice France Holding SA, 10.50%, 05/15/27 (b) |
1,288 | 1,080,812 | ||||||||||
AMC Networks, Inc. |
||||||||||||
5.00%, 04/01/24 |
2 | 1,937 | ||||||||||
4.75%, 08/01/25 |
135 | 125,758 | ||||||||||
4.25%, 02/15/29 |
83 | 67,246 | ||||||||||
Bell Telephone Co. of Canada or Bell Canada, 3.65%, 03/17/51 |
335 | 267,192 | ||||||||||
Block Communications, Inc., 4.88%, 03/01/28 (b) |
87 | 73,515 | ||||||||||
Cable One, Inc. |
||||||||||||
1.13%, 03/15/28 (f) |
694 | 581,572 | ||||||||||
4.00%, 11/15/30 (b) |
174 | 142,937 | ||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. |
||||||||||||
5.00%, 02/01/28 (b) |
270 | 249,129 | ||||||||||
5.38%, 06/01/29 (b) |
49 | 43,798 | ||||||||||
4.75%, 03/01/30 (b) |
180 | 153,945 | ||||||||||
4.50%, 08/15/30 (b) |
340 | 282,295 | ||||||||||
4.25%, 02/01/31 (b) |
431 | 351,265 | ||||||||||
4.75%, 02/01/32 (b) |
414 | 338,983 | ||||||||||
4.50%, 05/01/32 |
180 | 145,746 | ||||||||||
4.50%, 06/01/33 (b) |
227 | 178,880 |
Security |
Par (000) |
Value |
||||||||
Media (continued) |
||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. (continued) |
| |||||||||
4.25%, 01/15/34 (b) |
USD | 936 | $ | 723,060 | ||||||
Charter Communications Operating LLC/Charter Communications Operating Capital |
||||||||||
4.91%, 07/23/25 (e) |
4,700 | 4,710,904 | ||||||||
5.38%, 05/01/47 |
1,100 | 936,608 | ||||||||
4.80%, 03/01/50 |
1,000 | 792,360 | ||||||||
Clear Channel International BV, 6.63%, 08/01/25 (b) |
256 | 238,080 | ||||||||
Clear Channel Outdoor Holdings, Inc. (b) |
||||||||||
5.13%, 08/15/27 |
760 | 641,691 | ||||||||
7.75%, 04/15/28 |
819 | 595,880 | ||||||||
7.50%, 06/01/29 |
566 | 406,988 | ||||||||
CMG Media Corp., 8.88%, 12/15/27 (b) |
563 | 444,776 | ||||||||
Comcast Cable Communications Holdings, Inc., 9.46%, 11/15/22 |
2,600 | 2,659,564 | ||||||||
Comcast Corp. |
||||||||||
6.45%, 03/15/37 |
790 | 925,105 | ||||||||
4.60%, 08/15/45 |
2,000 | 1,882,054 | ||||||||
4.70%, 10/15/48 |
3,000 | 2,904,380 | ||||||||
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26 (b) |
1,493 | 1,341,655 | ||||||||
CSC Holdings LLC |
||||||||||
5.25%, 06/01/24 |
247 | 230,945 | ||||||||
5.75%, 01/15/30 (b) |
443 | 322,296 | ||||||||
4.13%, 12/01/30 (b) |
400 | 312,000 | ||||||||
4.50%, 11/15/31 (b) |
570 | 439,555 | ||||||||
Directv Financing LLC/Directv Financing Co.-Obligor, Inc., 5.88%, 08/15/27 (b) |
299 | 255,068 | ||||||||
Discovery Communications LLC |
||||||||||
3.25%, 04/01/23 |
1,850 | 1,844,655 | ||||||||
3.45%, 03/15/25 |
210 | 203,327 | ||||||||
DISH DBS Corp. |
||||||||||
7.75%, 07/01/26 |
343 | 267,368 | ||||||||
5.25%, 12/01/26 (b) |
739 | 579,258 | ||||||||
5.75%, 12/01/28 (b) |
763 | 564,933 | ||||||||
5.13%, 06/01/29 |
79 | 48,004 | ||||||||
DISH Network Corp., 3.38%, 08/15/26 (f) |
176 | 118,888 | ||||||||
Frontier Communications Holdings LLC (b) |
||||||||||
5.88%, 10/15/27 |
247 | 222,078 | ||||||||
5.00%, 05/01/28 |
394 | 334,900 | ||||||||
6.75%, 05/01/29 |
249 | 204,802 | ||||||||
6.00%, 01/15/30 |
213 | 163,893 | ||||||||
GCI LLC, 4.75%, 10/15/28 (b) |
135 | 116,971 | ||||||||
iHeartCommunications, Inc. |
||||||||||
6.38%, 05/01/26 |
91 | 84,629 | ||||||||
5.25%, 08/15/27 (b) |
66 | 56,485 | ||||||||
4.75%, 01/15/28 (b) |
50 | 41,204 | ||||||||
Iliad Holding SASU (b) |
||||||||||
6.50%, 10/15/26 |
529 | 476,084 | ||||||||
7.00%, 10/15/28 |
402 | 349,714 | ||||||||
Kaixo Bondsco Telecom SA, 5.13%, 09/30/29 (d) |
EUR | 100 | 79,382 | |||||||
LCPR Senior Secured Financing DAC, 5.13%, 07/15/29 (b) |
USD | 673 | 561,955 | |||||||
Liberty Broadband Corp. (b)(f) |
||||||||||
1.25%, 09/30/50 |
279 | 260,586 | ||||||||
2.75%, 09/30/50 |
537 | 510,784 | ||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23 (b)(i) |
182 | 93,035 |
26 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Media (continued) |
||||||||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29 (b) |
USD | 510 | $ | 397,800 | ||||||||
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26 (b) |
200 | 175,000 | ||||||||||
Live Nation Entertainment, Inc. (b) |
||||||||||||
4.88%, 11/01/24 |
21 | 20,055 | ||||||||||
6.50%, 05/15/27 |
465 | 457,290 | ||||||||||
4.75%, 10/15/27 |
169 | 149,822 | ||||||||||
3.75%, 01/15/28 |
130 | 112,125 | ||||||||||
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (d) |
EUR | 100 | 87,474 | |||||||||
Midcontinent Communications/Midcontinent Finance Corp., 5.38%, 08/15/27 (b) |
USD | 108 | 99,360 | |||||||||
Network i2i Ltd., (5 year CMT + 4.27%), 5.65% (a)(d)(h) |
400 | 370,200 | ||||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp. (b) |
||||||||||||
5.00%, 08/15/27 |
123 | 107,471 | ||||||||||
4.25%, 01/15/29 |
80 | 63,730 | ||||||||||
4.63%, 03/15/30 |
10 | 7,879 | ||||||||||
Paramount Global, 5.85%, 09/01/43 |
645 | 602,605 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc. (b) |
||||||||||||
4.50%, 09/15/26 |
464 | 400,098 | ||||||||||
6.50%, 09/15/28 |
1,131 | 874,122 | ||||||||||
Sable International Finance Ltd. |
||||||||||||
5.75%, 09/07/27 (b) |
200 | 183,320 | ||||||||||
5.75%, 09/07/27 (d) |
200 | 183,320 | ||||||||||
Scripps Escrow II, Inc., 3.88%, 01/15/29 (b) |
11 | 9,218 | ||||||||||
Sinclair Television Group, Inc., 4.13%, 12/01/30 (b) |
666 | 528,248 | ||||||||||
Sirius XM Radio, Inc. (b) |
||||||||||||
3.13%, 09/01/26 |
331 | 295,328 | ||||||||||
5.00%, 08/01/27 |
112 | 103,882 | ||||||||||
4.00%, 07/15/28 |
96 | 83,040 | ||||||||||
4.13%, 07/01/30 |
57 | 47,606 | ||||||||||
3.88%, 09/01/31 |
302 | 240,467 | ||||||||||
Stagwell Global LLC, 5.63%, 08/15/29 (b) |
69 | 55,444 | ||||||||||
Summer BC Holdco B SARL, 5.75%, 10/31/26 (d) |
EUR | 100 | 91,292 | |||||||||
TCI Communications, Inc., 7.88%, 02/15/26 |
USD | 610 | 684,526 | |||||||||
Tele Columbus AG, 3.88%, 05/02/25 (d) |
EUR | 100 | 87,787 | |||||||||
United Group BV, 5.25%, 02/01/30 (d) |
100 | 77,275 | ||||||||||
Univision Communications, Inc. (b) |
||||||||||||
5.13%, 02/15/25 |
USD | 52 | 48,932 | |||||||||
6.63%, 06/01/27 |
70 | 66,648 | ||||||||||
7.38%, 06/30/30 |
88 | 86,020 | ||||||||||
UPC Broadband Finco BV, 4.88%, 07/15/31 (b) |
303 | 246,945 | ||||||||||
Videotron Ltd., 3.63%, 06/15/29 (b) |
178 | 144,493 | ||||||||||
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (b) |
307 | 254,033 | ||||||||||
VTR Comunicaciones SpA, 4.38%, 04/15/29 (b) |
200 | 135,500 | ||||||||||
VZ Secured Financing BV, 3.50%, 01/15/32 (d) |
EUR | 100 | 78,639 | |||||||||
Walt Disney Co., 7.63%, 11/30/28 |
USD | 385 | 453,233 | |||||||||
WMG Acquisition Corp., 3.88%, 07/15/30 (b) |
37 | 30,767 | ||||||||||
Ziggo Bonds Co. BV, 6.00%, 01/15/27 (b) |
150 | 132,750 | ||||||||||
|
|
|||||||||||
41,129,037 | ||||||||||||
Metals & Mining — 1.1% |
||||||||||||
ABJA Investment Co. Pte Ltd . (d) |
||||||||||||
5.95%, 07/31/24 |
250 | 249,375 | ||||||||||
5.45%, 01/24/28 |
200 | 188,000 | ||||||||||
Allegheny Technologies, Inc. |
||||||||||||
4.88%, 10/01/29 |
68 | 54,229 |
Security |
Par (000) |
Value |
||||||||||
Metals & Mining (continued) |
||||||||||||
Allegheny Technologies, Inc. (continued) |
||||||||||||
5.13%, 10/01/31 |
USD | 187 | $ | 143,250 | ||||||||
Arconic Corp. (b) |
||||||||||||
6.00%, 05/15/25 |
87 | 84,851 | ||||||||||
6.13%, 02/15/28 |
244 | 227,842 | ||||||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29 (b) |
682 | 632,859 | ||||||||||
Carpenter Technology Corp. |
||||||||||||
6.38%, 07/15/28 |
154 | 137,462 | ||||||||||
7.63%, 03/15/30 |
134 | 123,052 | ||||||||||
Commercial Metals Co. |
||||||||||||
4.13%, 01/15/30 |
48 | 40,416 | ||||||||||
4.38%, 03/15/32 |
51 | 41,773 | ||||||||||
Constellium SE (b) |
||||||||||||
5.63%, 06/15/28 |
250 | 223,686 | ||||||||||
3.75%, 04/15/29 |
841 | 666,974 | ||||||||||
FMG Resources August 2006 Pty. Ltd., 6.13%, 04/15/32 (b) |
276 | 248,400 | ||||||||||
JSW Steel Ltd., 5.95%, 04/18/24 (d) |
200 | 197,500 | ||||||||||
Kaiser Aluminum Corp. (b) |
||||||||||||
4.63%, 03/01/28 |
119 | 99,070 | ||||||||||
4.50%, 06/01/31 |
535 | 404,931 | ||||||||||
Mineral Resources Ltd. (b) |
||||||||||||
8.00%, 11/01/27 |
86 | 83,850 | ||||||||||
8.50%, 05/01/30 |
88 | 86,680 | ||||||||||
Mongolian Mining Corp./Energy Resources LLC, 9.25%, 04/15/24 (b) |
200 | 134,600 | ||||||||||
New Gold, Inc., 7.50%, 07/15/27 (b) |
470 | 408,900 | ||||||||||
Nexa Resources SA, 5.38%, 05/04/27 (b) |
299 | 276,257 | ||||||||||
Novelis Corp. (b) |
||||||||||||
3.25%, 11/15/26 |
342 | 289,084 | ||||||||||
4.75%, 01/30/30 |
534 | 443,850 | ||||||||||
3.88%, 08/15/31 |
473 | 364,300 | ||||||||||
Rio Tinto Finance USA PLC, 4.75%, 03/22/42 |
400 | 397,759 | ||||||||||
Roller Bearing Co. of America, Inc., 4.38%, 10/15/29 (b) |
82 | 69,775 | ||||||||||
thyssenkrupp AG, 2.88%, 02/22/24 (d) |
EUR | 51 | 51,263 | |||||||||
U.S. Steel Corp., 6.88%, 03/01/29 |
USD | 231 | 201,568 | |||||||||
Vedanta Resources Finance II PLC, 13.88%, 01/21/24 ( d) |
400 | 356,000 | ||||||||||
|
|
|||||||||||
6,927,556 | ||||||||||||
Multiline Retail — 0.1% |
||||||||||||
Bath & Body Works, Inc. |
||||||||||||
6.88%, 11/01/35 |
141 | 114,563 | ||||||||||
6.75%, 07/01/36 |
49 | 39,195 | ||||||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 (b) |
252 | 232,238 | ||||||||||
|
|
|||||||||||
385,996 | ||||||||||||
Multi-Utilities — 0.2% |
||||||||||||
KeySpan Gas East Corp., 5.82%, 04/01/41 (b) |
1,010 | 1,014,174 | ||||||||||
|
|
|||||||||||
Offshore Drilling & Other Services — 0.1% |
||||||||||||
Entegris, Inc. (b) |
||||||||||||
4.38%, 04/15/28 |
168 | 148,260 | ||||||||||
3.63%, 05/01/29 |
30 | 25,087 | ||||||||||
KLA Corp., 3.30%, 03/01/50 |
500 | 395,998 | ||||||||||
|
|
|||||||||||
569,345 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Oil, Gas & Consumable Fuels — 7.9% |
| |||||||||||
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26 (b) |
USD | 557 | $ | 541,265 | ||||||||
Antero Midstream Partners LP/Antero Midstream |
|
|||||||||||
Finance Corp. (b) |
||||||||||||
5.75%, 03/01/27 |
184 | 171,120 | ||||||||||
5.75%, 01/15/28 |
39 | 35,506 | ||||||||||
5.38%, 06/15/29 |
140 | 125,378 | ||||||||||
Antero Resources Corp., 7.63%, 02/01/29 (b) |
142 | 144,452 | ||||||||||
Apache Corp. |
||||||||||||
4.25%, 01/15/30 |
133 | 117,871 | ||||||||||
5.10%, 09/01/40 |
321 | 271,046 | ||||||||||
5.25%, 02/01/42 |
25 | 20,912 | ||||||||||
5.35%, 07/01/49 |
97 | 76,644 | ||||||||||
Arcosa, Inc., 4.38%, 04/15/29 (b) |
238 | 201,956 | ||||||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp. (b) |
||||||||||||
9.00%, 11/01/27 |
625 | 784,490 | ||||||||||
5.88%, 06/30/29 |
152 | 133,760 | ||||||||||
Buckeye Partners LP |
||||||||||||
4.13%, 03/01/25 (b) |
179 | 165,724 | ||||||||||
5.85%, 11/15/43 |
94 | 66,740 | ||||||||||
5.60%, 10/15/44 |
59 | 41,086 | ||||||||||
Burlington Resources LLC, 5.95%, 10/15/36 |
685 | 745,521 | ||||||||||
Callon Petroleum Co. |
||||||||||||
6.13%, 10/01/24 |
85 | 86,309 | ||||||||||
9.00%, 04/01/25 (b) |
706 | 748,360 | ||||||||||
6.38%, 07/01/26 |
80 | 73,800 | ||||||||||
8.00%, 08/01/28 (b)(e) |
407 | 390,964 | ||||||||||
7.50%, 06/15/30 |
375 | 345,052 | ||||||||||
Cellnex Telecom SA, Series CLNX, 0.75%, 11/20/31 (d)(f) |
EUR | 100 | 71,367 | |||||||||
Cenovus Energy, Inc., 4.25%, 04/15/27 |
USD | 400 | 392,058 | |||||||||
Centennial Resource Production LLC |
||||||||||||
6.88%, 04/01/27 (b) |
31 | 29,439 | ||||||||||
3.25%, 04/01/28 (f) |
322 | 400,487 | ||||||||||
Central Parent, Inc./Central Merger Sub, Inc., 7.25%, 06/15/29 |
383 | 368,637 | ||||||||||
Cheniere Energy Partners LP |
||||||||||||
4.50%, 10/01/29 |
463 | 413,320 | ||||||||||
4.00%, 03/01/31 |
308 | 261,892 | ||||||||||
3.25%, 01/31/32 (b) |
421 | 331,538 | ||||||||||
Cheniere Energy, Inc., 4.63%, 10/15/28 |
1,466 | 1,320,236 | ||||||||||
Chesapeake Energy Corp. (b) |
||||||||||||
5.88%, 02/01/29 |
28 | 26,404 | ||||||||||
6.75%, 04/15/29 |
350 | 338,460 | ||||||||||
Citgo Holding, Inc., 9.25%, 08/01/24 (b) |
298 | 288,315 | ||||||||||
Civitas Resources, Inc., 5.00%, 10/15/26 (b) |
60 | 53,850 | ||||||||||
CNX Midstream Partners LP, 4.75%, 04/15/30 (b) |
63 | 52,920 | ||||||||||
CNX Resources Corp. |
||||||||||||
2.25%, 05/01/26 (f) |
337 | 492,525 | ||||||||||
6.00%, 01/15/29 (b) |
74 | 69,131 | ||||||||||
Colgate Energy Partners III LLC (b) |
||||||||||||
7.75%, 02/15/26 |
181 | 172,065 | ||||||||||
5.88%, 07/01/29 |
238 | 208,548 | ||||||||||
Comstock Resources, Inc. (b) |
||||||||||||
6.75%, 03/01/29 |
472 | 422,643 | ||||||||||
5.88%, 01/15/30 |
537 | 461,820 | ||||||||||
ConocoPhillips, 6.50%, 02/01/39 |
600 | 704,132 | ||||||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31 (b) |
1,000 | 851,540 |
Security |
Par (000) |
Value |
||||||||||
Oil, Gas & Consumable Fuels (continued) |
| |||||||||||
Crescent Energy Finance LLC, 7.25%, 05/01/26 (b) |
USD | 496 | $ | 451,360 | ||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. (b) |
||||||||||||
5.63%, 05/01/27 |
34 | 30,260 | ||||||||||
6.00%, 02/01/29 |
121 | 105,582 | ||||||||||
8.00%, 04/01/29 |
59 | 54,797 | ||||||||||
CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25 (b) |
570 | 535,800 | ||||||||||
DCP Midstream Operating LP |
||||||||||||
6.45%, 11/03/36 (b) |
106 | 103,880 | ||||||||||
6.75%, 09/15/37 (b) |
172 | 163,615 | ||||||||||
5.60%, 04/01/44 |
2 | 1,616 | ||||||||||
Devon Energy Corp. |
||||||||||||
5.85%, 12/15/25 |
1,000 | 1,040,866 | ||||||||||
4.75%, 05/15/42 |
300 | 272,066 | ||||||||||
DT Midstream, Inc. (b) |
||||||||||||
4.13%, 06/15/29 |
276 | 233,910 | ||||||||||
4.38%, 06/15/31 |
409 | 342,537 | ||||||||||
Dycom Industries, Inc., 4.50%, 04/15/29 (b) |
69 | 60,245 | ||||||||||
Earthstone Energy Holdings LLC, 8.00%, 04/15/27 (b) |
198 | 187,358 | ||||||||||
Ecopetrol SA, 4.63%, 11/02/31 |
130 | 98,150 | ||||||||||
eG Global Finance PLC |
||||||||||||
6.75%, 02/07/25 (b) |
441 | 415,812 | ||||||||||
6.25%, 10/30/25 (d) |
EUR | 142 | 133,360 | |||||||||
8.50%, 10/30/25 (b) |
USD | 200 | 193,750 | |||||||||
Enbridge, Inc. (a) |
||||||||||||
(3 mo. LIBOR US + 3.64%), 6.25%, 03/01/78 |
1,935 | 1,722,418 | ||||||||||
Series 20-A, (5 year CMT + 5.31%), 5.75%, 07/15/80 |
950 | 868,604 | ||||||||||
Endeavor Energy Resources LP/EER Finance, Inc. (b) |
||||||||||||
6.63%, 07/15/25 |
128 | 128,627 | ||||||||||
5.75%, 01/30/28 |
239 | 227,683 | ||||||||||
Energy Transfer LP |
||||||||||||
4.05%, 03/15/25 |
500 | 492,468 | ||||||||||
4.75%, 01/15/26 |
1,250 | 1,245,319 | ||||||||||
3.90%, 07/15/26 |
310 | 297,872 | ||||||||||
5.30%, 04/15/47 |
540 | 467,588 | ||||||||||
Series H, (5 year CMT + 5.69%), 6.50% (a)(h) |
433 | 382,736 | ||||||||||
EnLink Midstream LLC |
||||||||||||
5.63%, 01/15/28 (b) |
165 | 151,349 | ||||||||||
5.38%, 06/01/29 |
328 | 287,068 | ||||||||||
EnLink Midstream Partners LP |
||||||||||||
4.40%, 04/01/24 |
144 | 140,565 | ||||||||||
4.15%, 06/01/25 |
10 | 9,309 | ||||||||||
4.85%, 07/15/26 |
67 | 61,808 | ||||||||||
5.60%, 04/01/44 |
155 | 109,773 | ||||||||||
5.05%, 04/01/45 |
33 | 22,316 | ||||||||||
5.45%, 06/01/47 |
42 | 29,725 | ||||||||||
Enterprise Products Operating LLC, 6.13%, 10/15/39 |
1,400 | 1,479,615 | ||||||||||
EOG Resources, Inc., 5.10%, 01/15/36 |
200 | 197,820 | ||||||||||
EQM Midstream Partners LP |
||||||||||||
6.00%, 07/01/25 (b) |
65 | 62,314 | ||||||||||
4.13%, 12/01/26 |
68 | 58,735 | ||||||||||
6.50%, 07/01/27 (b) |
245 | 227,801 | ||||||||||
4.50%, 01/15/29 (b) |
13 | 10,554 | ||||||||||
7.50%, 06/01/30 |
57 | 54,757 | ||||||||||
4.75%, 01/15/31 (b) |
456 | 363,660 |
28 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Oil, Gas & Consumable Fuels (continued) |
| |||||||||||
EQT Corp., 1.75%, 05/01/26 (f) |
USD | 132 | $ | 310,926 | ||||||||
Genesis Energy LP/Genesis Energy Finance Corp. |
||||||||||||
6.50%, 10/01/25 |
29 | 26,753 | ||||||||||
7.75%, 02/01/28 |
75 | 64,879 | ||||||||||
Gulfport Energy Corp., 8.00%, 05/17/26 (b) |
25 | 24,593 | ||||||||||
Harvest Midstream I LP, 7.50%, 09/01/28 (b) |
40 | 37,569 | ||||||||||
Hess Corp., 4.30%, 04/01/27 |
1,100 | 1,072,267 | ||||||||||
Hess Midstream Operations LP, 4.25%, 02/15/30 (b) |
162 | 135,669 | ||||||||||
Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 11/01/28 (b) |
22 | 20,735 | ||||||||||
Hilong Holding Ltd., 9.75%, 11/18/24 (d) |
207 | 112,466 | ||||||||||
HPCL-Mittal Energy Ltd., 5.45%, 10/22/26 (d) |
200 | 187,000 | ||||||||||
HTA Group Ltd., 7.00%, 12/18/25 (b) |
200 | 166,788 | ||||||||||
IHS Holding Ltd., 6.25%, 11/29/28 (b) |
200 | 159,500 | ||||||||||
Impulsora Pipeline LLC, 6.05%, 12/31/42 (c) |
1,658 | 1,467,997 | ||||||||||
ITT Holdings LLC, 6.50%, 08/01/29 (b) |
232 | 185,600 | ||||||||||
Kinder Morgan, Inc., 5.05%, 02/15/46 |
1,400 | 1,252,710 | ||||||||||
Kinetik Holdings LP, 5.88%, 06/15/30 |
378 | 360,088 | ||||||||||
Marathon Petroleum Corp., 6.50%, 03/01/41 |
1,150 | 1,255,217 | ||||||||||
Matador Resources Co., 5.88%, 09/15/26 |
875 | 841,120 | ||||||||||
Medco Oak Tree Pte. Ltd., 7.38%, 05/14/26 (d) |
288 | 261,360 | ||||||||||
MPLX LP, 4.25%, 12/01/27 |
250 | 241,244 | ||||||||||
Murphy Oil Corp. |
||||||||||||
5.75%, 08/15/25 |
42 | 41,559 | ||||||||||
5.88%, 12/01/27 |
40 | 37,330 | ||||||||||
6.13%, 12/01/42 |
18 | 13,455 | ||||||||||
Murphy Oil USA, Inc., 4.75%, 09/15/29 |
95 | 85,506 | ||||||||||
Nabors Industries Ltd. (b) |
||||||||||||
7.25%, 01/15/26 |
58 | 51,437 | ||||||||||
7.50%, 01/15/28 |
94 | 80,840 | ||||||||||
Nabors Industries, Inc., 7.38%, 05/15/27 (b) |
226 | 214,700 | ||||||||||
New Fortress Energy, Inc. (b) |
||||||||||||
6.75%, 09/15/25 |
585 | 552,825 | ||||||||||
6.50%, 09/30/26 |
758 | 686,567 | ||||||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (b) |
115 | 103,500 | ||||||||||
NGPL PipeCo LLC, 7.77%, 12/15/37 (b) |
138 | 150,177 | ||||||||||
Northern Oil & Gas, Inc., 8.13%, 03/01/28 (b) |
620 | 584,350 | ||||||||||
NuStar Logistics LP |
||||||||||||
6.00%, 06/01/26 |
99 | 92,565 | ||||||||||
6.38%, 10/01/30 |
17 | 14,770 | ||||||||||
Occidental Petroleum Corp. |
||||||||||||
6.95%, 07/01/24 |
43 | 44,290 | ||||||||||
8.00%, 07/15/25 |
25 | 26,313 | ||||||||||
5.88%, 09/01/25 |
79 | 78,656 | ||||||||||
5.50%, 12/01/25 |
101 | 99,485 | ||||||||||
8.88%, 07/15/30 |
67 | 76,921 | ||||||||||
6.63%, 09/01/30 |
442 | 455,260 | ||||||||||
6.13%, 01/01/31 |
53 | 53,712 | ||||||||||
7.50%, 05/01/31 |
58 | 62,350 | ||||||||||
6.45%, 09/15/36 |
68 | 69,700 | ||||||||||
6.20%, 03/15/40 |
637 | 627,445 | ||||||||||
6.60%, 03/15/46 |
44 | 46,728 | ||||||||||
Oil & Gas Holding Co., 7.63%, 11/07/24 (d) |
200 | 205,725 | ||||||||||
OQ SAOC, 5.13%, 05/06/28 (b) |
200 | 188,350 | ||||||||||
PDC Energy, Inc. |
||||||||||||
6.13%, 09/15/24 |
58 | 57,605 | ||||||||||
5.75%, 05/15/26 |
164 | 152,984 | ||||||||||
Pertamina Persero PT, 3.65%, 07/30/29 (d) |
239 | 218,386 |
Security |
Par (000) |
Value |
||||||||||
Oil, Gas & Consumable Fuels (continued) |
| |||||||||||
Petroleos Mexicanos |
||||||||||||
6.50%, 03/13/27 |
USD | 212 | $ | 183,009 | ||||||||
5.95%, 01/28/31 |
181 | 132,058 | ||||||||||
6.38%, 01/23/45 |
98 | 58,923 | ||||||||||
6.75%, 09/21/47 |
67 | 41,038 | ||||||||||
7.69%, 01/23/50 |
79 | 52,733 | ||||||||||
Pioneer Natural Resources Co., 0.25%, 05/15/25 (f) |
191 | 412,942 | ||||||||||
Puma International Financing SA, 5.13%, 10/06/24 (b) |
200 | 181,000 | ||||||||||
Range Resources Corp. |
||||||||||||
5.00%, 03/15/23 |
122 | 121,085 | ||||||||||
4.88%, 05/15/25 |
10 | 9,754 | ||||||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29 (b) |
257 | 233,862 | ||||||||||
Sabine Pass Liquefaction LLC, 5.88%, 06/30/26 |
1,750 | 1,808,154 | ||||||||||
SM Energy Co. |
||||||||||||
5.63%, 06/01/25 |
38 | 35,910 | ||||||||||
6.75%, 09/15/26 |
85 | 80,186 | ||||||||||
6.63%, 01/15/27 |
22 | 20,570 | ||||||||||
6.50%, 07/15/28 |
122 | 112,204 | ||||||||||
Southwestern Energy Co. |
||||||||||||
5.38%, 02/01/29 |
232 | 215,203 | ||||||||||
4.75%, 02/01/32 |
109 | 93,143 | ||||||||||
Suncor Energy, Inc., 6.50%, 06/15/38 |
1,000 | 1,105,583 | ||||||||||
Sunoco LP/Sunoco Finance Corp. |
||||||||||||
6.00%, 04/15/27 |
38 | 36,228 | ||||||||||
5.88%, 03/15/28 |
4 | 3,647 | ||||||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. (b) |
||||||||||||
6.00%, 03/01/27 |
29 | 25,883 | ||||||||||
6.00%, 12/31/30 |
20 | 16,600 | ||||||||||
6.00%, 09/01/31 |
88 | 72,600 | ||||||||||
Tap Rock Resources LLC, 7.00%, 10/01/26 (b) |
519 | 490,049 | ||||||||||
TransCanada PipeLines Ltd., 4.63%, 03/01/34 |
500 | 479,762 | ||||||||||
Transocean, Inc., 11.50%, 01/30/27 (b) |
81 | 76,029 | ||||||||||
Venture Global Calcasieu Pass LLC (b) |
||||||||||||
3.88%, 08/15/29 |
559 | 488,971 | ||||||||||
4.13%, 08/15/31 |
476 | 406,752 | ||||||||||
3.88%, 11/01/33 |
1,070 | 882,750 | ||||||||||
Vermilion Energy, Inc., 6.88%, 05/01/30 (b) |
108 | 96,660 | ||||||||||
Vivo Energy Investments BV, 5.13%, 09/24/27 (b) |
200 | 188,500 | ||||||||||
Western Midstream Operating LP |
||||||||||||
4.75%, 08/15/28 |
25 | 22,841 | ||||||||||
5.45%, 04/01/44 |
229 | 190,331 | ||||||||||
5.30%, 03/01/48 |
75 | 60,461 | ||||||||||
5.50%, 08/15/48 |
69 | 56,235 | ||||||||||
5.75%, 02/01/50 |
678 | 544,474 | ||||||||||
Williams Cos., Inc. |
||||||||||||
3.90%, 01/15/25 |
1,150 | 1,136,070 | ||||||||||
4.00%, 09/15/25 |
750 | 738,291 | ||||||||||
|
|
|||||||||||
50,813,194 | ||||||||||||
Pharmaceuticals — 2.3% |
||||||||||||
AbbVie, Inc. |
||||||||||||
3.80%, 03/15/25 (e) |
3,250 | 3,223,983 | ||||||||||
3.60%, 05/14/25 |
870 | 855,852 | ||||||||||
3.20%, 05/14/26 |
500 | 481,639 | ||||||||||
4.55%, 03/15/35 |
2,140 | 2,081,573 | ||||||||||
4.45%, 05/14/46 |
2,095 | 1,900,394 | ||||||||||
Bausch Health Cos., Inc. (b) |
||||||||||||
9.00%, 12/15/25 |
23 | 16,994 | ||||||||||
6.13%, 02/01/27 |
43 | 36,550 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Pharmaceuticals (continued) |
||||||||||||
Bausch Health Cos., Inc. (b) (continued) |
||||||||||||
5.00%, 02/15/29 |
USD | 83 | $ | 43,160 | ||||||||
6.25%, 02/15/29 |
8 | 4,258 | ||||||||||
7.25%, 05/30/29 |
27 | 14,648 | ||||||||||
Cheplapharm Arzneimittel GmbH, 3.50%, 02/11/27 (d) |
EUR | 100 | 89,128 | |||||||||
CVS Health Corp. |
||||||||||||
5.13%, 07/20/45 |
USD | 700 | 674,256 | |||||||||
5.05%, 03/25/48 |
1,821 | 1,743,149 | ||||||||||
Elanco Animal Health, Inc., 6.40%, 08/28/28 |
6 | 5,711 | ||||||||||
Gruenenthal GmbH, 4.13%, 05/15/28 (d) |
EUR | 100 | 89,600 | |||||||||
Jazz Securities DAC, 4.38%, 01/15/29 (b) |
USD | 500 | 444,758 | |||||||||
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24 (d) |
EUR | 100 | 92,587 | |||||||||
Option Care Health, Inc., 4.38%, 10/31/29 (b) |
USD | 142 | 121,765 | |||||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV (b) |
||||||||||||
4.13%, 04/30/28 |
598 | 529,230 | ||||||||||
5.13%, 04/30/31 |
587 | 506,481 | ||||||||||
P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (b) |
164 | 114,808 | ||||||||||
PRA Health Sciences, Inc., 2.88%, 07/15/26 (b) |
400 | 356,000 | ||||||||||
Prestige Brands, Inc., 3.75%, 04/01/31 (b) |
101 | 83,749 | ||||||||||
Teva Pharmaceutical Finance Netherlands II BV, 6.00%, 01/31/25 |
EUR | 100 | 102,064 | |||||||||
Teva Pharmaceutical Finance Netherlands III BV, 7.13%, 01/31/25 |
USD | 200 | 194,162 | |||||||||
Utah Acquisition Sub, Inc., 3.95%, 06/15/26 |
750 | 706,570 | ||||||||||
|
|
|||||||||||
14,513,069 | ||||||||||||
Real Estate Management & Development — 0.5% |
| |||||||||||
Adler Group SA, 2.75%, 11/13/26 (d) |
EUR | 100 | 52,502 | |||||||||
China Aoyuan Group Ltd. (d)(k)(l) |
||||||||||||
5.98%, 08/18/25 |
USD | 489 | 46,394 | |||||||||
6.20%, 03/24/26 |
450 | 36,000 | ||||||||||
China SCE Group Holdings Ltd., 7.38%, 04/09/24 (d) |
200 | 66,000 | ||||||||||
CIFI Holdings Group Co. Ltd., 6.45%, 11/07/24 (d) |
200 | 128,000 | ||||||||||
Country Garden Holdings Co. Ltd., 6.50%, 04/08/24 (d) |
200 | 124,000 | ||||||||||
DIC Asset AG, 2.25%, 09/22/26 (d) |
EUR | 100 | 69,689 | |||||||||
Easy Tactic Ltd., 11.75%, 08/02/23 (d) |
USD | 200 | 43,600 | |||||||||
Fantasia Holdings Group Co. Ltd. (d)(k)(l) |
||||||||||||
11.75%, 04/17/22 |
200 | 16,500 | ||||||||||
10.88%, 01/09/23 |
307 | 25,328 | ||||||||||
11.88%, 06/01/23 |
400 | 33,000 | ||||||||||
9.25%, 07/28/23 |
300 | 24,750 | ||||||||||
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25 (b) |
35 | 29,356 | ||||||||||
Global Prime Capital Pte. Ltd. (d) |
||||||||||||
5.50%, 10/18/23 |
200 | 197,037 | ||||||||||
5.95%, 01/23/25 |
200 | 187,000 | ||||||||||
Howard Hughes Corp. (b) |
||||||||||||
5.38%, 08/01/28 |
19 | 15,913 | ||||||||||
4.13%, 02/01/29 |
74 | 57,075 | ||||||||||
4.38%, 02/01/31 |
80 | 59,207 | ||||||||||
Kaisa Group Holdings Ltd., 11.95%, 11/12/23 (d)(k)(l) |
259 | 34,317 | ||||||||||
KWG Group Holdings Ltd., 5.88%, 11/10/24 (d) |
200 | 39,000 | ||||||||||
MAF Sukuk Ltd. (d) |
||||||||||||
4.64%, 05/14/29 |
200 | 200,100 | ||||||||||
3.93%, 02/28/30 |
200 | 191,287 |
Security |
Par (000) |
Value |
||||||||||
Real Estate Management & Development (continued) |
|
|||||||||||
Modern Land China Co. Ltd., 9.80%, 04/11/23 (c)(d)(k)(l) |
USD | 200 | $ | 32,000 | ||||||||
Realogy Group LLC/Realogy Co-Issuer Corp. (b) |
||||||||||||
5.75%, 01/15/29 |
180 | 136,498 | ||||||||||
5.25%, 04/15/30 |
91 | 67,340 | ||||||||||
Ronshine China Holdings Ltd., 7.35%, 12/15/23 (d) |
200 | 25,000 | ||||||||||
Shimao Group Holdings Ltd., 3.45%, 01/11/31 (d) |
200 | 21,000 | ||||||||||
Shui On Development Holding Ltd., 5.50%, 03/03/25 (d) |
282 | 212,910 | ||||||||||
Starwood Property Trust, Inc., 4.38%, 01/15/27 (b) |
52 | 45,139 | ||||||||||
Theta Capital Pte. Ltd., 8.13%, 01/22/25 (d) |
200 | 172,000 | ||||||||||
Times China Holdings Ltd., 6.20%, 03/22/26 (d) |
611 | 85,540 | ||||||||||
Wanda Properties Overseas Ltd., 6.88%, 07/23/23 (d) |
200 | 159,000 | ||||||||||
Yanlord Land HK Co. Ltd., 6.75%, 04/23/23 (d) |
250 | 234,950 | ||||||||||
Yuzhou Group Holdings Co. Ltd. (d)(k)(l) |
||||||||||||
8.38%, 10/30/24 |
200 | 14,000 | ||||||||||
7.70%, 02/20/25 |
263 | 17,095 | ||||||||||
7.38%, 01/13/26 |
200 | 13,000 | ||||||||||
6.35%, 01/13/27 |
200 | 13,000 | ||||||||||
Zhenro Properties Group Ltd., 7.88%, 04/14/24 (d)(k)(l) |
200 | 13,000 | ||||||||||
|
|
|||||||||||
2,937,527 | ||||||||||||
Road & Rail — 1.1% |
||||||||||||
Burlington Northern Santa Fe LLC, 5.75%, 05/01/40 |
1,890 | 2,073,383 | ||||||||||
CSX Corp., 4.75%, 05/30/42 |
350 | 333,383 | ||||||||||
Danaos Corp., 8.50%, 03/01/28 (b) |
100 | 99,002 | ||||||||||
Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34 (b) |
2,435 | 2,384,833 | ||||||||||
Norfolk Southern Corp. |
||||||||||||
4.15%, 02/28/48 |
1,300 | 1,157,728 | ||||||||||
3.16%, 05/15/55 |
400 | 290,693 | ||||||||||
Seaspan Corp., 5.50%, 08/01/29 (b) |
230 | 185,050 | ||||||||||
Union Pacific Corp., 3.84%, 03/20/60 |
800 | 667,769 | ||||||||||
|
|
|||||||||||
7,191,841 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.9% |
||||||||||||
Broadcom Corp./Broadcom Cayman Finance Ltd., 3.88%, 01/15/27 |
2,850 | 2,742,258 | ||||||||||
Broadcom, Inc., 3.46%, 09/15/26 |
735 | 704,177 | ||||||||||
Entegris Escrow Corp., 4.75%, 04/15/29 (b) |
1,033 | 961,959 | ||||||||||
Microchip Technology, Inc. (f) |
||||||||||||
0.13%, 11/15/24 |
220 | 218,900 | ||||||||||
1.63%, 02/15/25 |
53 | 131,854 | ||||||||||
Qualcomm, Inc., 4.65%, 05/20/35 |
250 | 256,023 | ||||||||||
Sensata Technologies BV (b) |
||||||||||||
5.00%, 10/01/25 |
70 | 67,200 | ||||||||||
4.00%, 04/15/29 |
159 | 134,845 | ||||||||||
Sensata Technologies, Inc. (b) |
||||||||||||
4.38%, 02/15/30 |
462 | 393,244 | ||||||||||
3.75%, 02/15/31 |
13 | 10,419 | ||||||||||
Synaptics, Inc., 4.00%, 06/15/29 (b) |
129 | 104,745 | ||||||||||
|
|
|||||||||||
5,725,624 | ||||||||||||
Software — 1.7% |
||||||||||||
ACI Worldwide, Inc., 5.75%, 08/15/26 (b) |
262 | 252,901 | ||||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28 (b) |
255 | 220,575 | ||||||||||
Boxer Parent Co., Inc. |
||||||||||||
6.50%, 10/02/25 (d) |
EUR | 100 | 98,130 | |||||||||
7.13%, 10/02/25 (b) |
USD | 187 | 179,064 | |||||||||
9.13%, 03/01/26 (b) |
467 | 436,277 | ||||||||||
Elastic NV, 4.13%, 07/15/29 (b) |
254 | 212,034 |
30 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Software (continued) |
||||||||||||
Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 4.63%, 05/01/28 (b) |
USD | 200 | $ | 158,728 | ||||||||
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32 (b) |
156 | 125,909 | ||||||||||
Microsoft Corp., 3.50%, 11/15/42 (e) |
4,000 | 3,541,294 | ||||||||||
MicroStrategy, Inc., 6.13%, 06/15/28 (b)(e) |
305 | 242,881 | ||||||||||
MSCI, Inc. (b) |
||||||||||||
4.00%, 11/15/29 |
51 | 45,203 | ||||||||||
3.63%, 09/01/30 |
81 | 67,528 | ||||||||||
3.88%, 02/15/31 |
14 | 11,970 | ||||||||||
3.63%, 11/01/31 |
96 | 79,022 | ||||||||||
3.25%, 08/15/33 |
124 | 98,839 | ||||||||||
Open Text Corp., 3.88%, 12/01/29 (b) |
133 | 111,939 | ||||||||||
Open Text Holdings, Inc., 4.13%, 02/15/30 (b) |
83 | 71,799 | ||||||||||
Oracle Corp. |
||||||||||||
5.38%, 07/15/40 (e) |
3,025 | 2,755,073 | ||||||||||
4.00%, 11/15/47 |
400 | 296,615 | ||||||||||
3.60%, 04/01/50 |
1,250 | 868,323 | ||||||||||
Playtika Holding Corp., 4.25%, 03/15/29 (b) |
354 | 292,050 | ||||||||||
PTC, Inc., 4.00%, 02/15/28 (b) |
35 | 31,628 | ||||||||||
SS&C Technologies, Inc., 5.50%, 09/30/27 (b) |
484 | 451,359 | ||||||||||
Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (b) |
269 | 201,870 | ||||||||||
|
|
|||||||||||
10,851,011 | ||||||||||||
Specialty Retail — 0.2% |
||||||||||||
Arko Corp., 5.13%, 11/15/29 (b) |
123 | 93,176 | ||||||||||
Bath & Body Works, Inc., 7.60%, 07/15/37 |
42 | 33,859 | ||||||||||
Carvana Co., 10.25%, 05/01/30 (b) |
113 | 92,660 | ||||||||||
National Vision Holdings, Inc., 2.50%, 05/15/25 (f) |
165 | 185,015 | ||||||||||
PetSmart, Inc./PetSmart Finance Corp., 7.75%, 02/15/29 (b) |
493 | 443,951 | ||||||||||
Staples, Inc., 7.50%, 04/15/26 (b) |
177 | 146,710 | ||||||||||
Tendam Brands SAU, (3 mo. EURIBOR + 5.25%), 5.25%, 09/15/24 (a)(d) |
EUR | 100 | 100,035 | |||||||||
|
|
|||||||||||
1,095,406 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.4% |
||||||||||||
Apple, Inc., 4.65%, 02/23/46 |
USD | 2,400 | 2,470,574 | |||||||||
II-VI, Inc., 5.00%, 12/15/29 (b) |
499 | 435,378 | ||||||||||
|
|
|||||||||||
2,905,952 | ||||||||||||
Textiles, Apparel & Luxury Goods (b) — 0.0% |
||||||||||||
Crocs, Inc. |
||||||||||||
4.25%, 03/15/29 |
15 | 11,095 | ||||||||||
4.13%, 08/15/31 |
99 | 70,068 | ||||||||||
Kontoor Brands, Inc., 4.13%, 11/15/29 |
67 | 53,206 | ||||||||||
Levi Strauss & Co., 3.50%, 03/01/31 |
110 | 89,925 | ||||||||||
|
|
|||||||||||
224,294 | ||||||||||||
Thrifts & Mortgage Finance (b) — 0.1% |
||||||||||||
Home Point Capital, Inc., 5.00%, 02/01/26 |
116 | 80,040 | ||||||||||
Nationstar Mortgage Holdings, Inc. |
||||||||||||
6.00%, 01/15/27 |
33 | 28,626 | ||||||||||
5.13%, 12/15/30 |
69 | 51,580 | ||||||||||
5.75%, 11/15/31 |
66 | 50,536 | ||||||||||
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.88%, 10/15/26 |
203 | 167,761 | ||||||||||
|
|
|||||||||||
378,543 | ||||||||||||
Tobacco — 0.8% |
||||||||||||
Altria Group, Inc. |
||||||||||||
5.38%, 01/31/44 |
2,000 | 1,700,251 |
Security |
Par (000) |
Value |
||||||||||
Tobacco (continued) |
||||||||||||
Altria Group, Inc. (continued) |
||||||||||||
3.88%, 09/16/46 |
USD | 1,250 | $ | 840,896 | ||||||||
Reynolds American, Inc. |
||||||||||||
4.45%, 06/12/25 |
635 | 631,177 | ||||||||||
7.00%, 08/04/41 |
1,000 | 1,020,820 | ||||||||||
5.85%, 08/15/45 |
1,500 | 1,258,639 | ||||||||||
|
|
|||||||||||
5,451,783 | ||||||||||||
Transportation — 0.0% |
||||||||||||
Autostrade per l’Italia SpA, 2.00%, 12/04/28 (d) |
EUR | 100 | 85,412 | |||||||||
|
|
|||||||||||
Transportation Infrastructure — 0.5% |
||||||||||||
Aeropuertos Dominicanos Siglo XXI SA, 6.75%, 03/30/29 (b) |
USD | 200 | 180,375 | |||||||||
DP World Salaam, (5 year CMT + 5.75%), 6.00% (a)(d)(h) |
200 | 200,563 | ||||||||||
FedEx Corp., 4.75%, 11/15/45 |
1,250 | 1,145,593 | ||||||||||
GMR Hyderabad International Airport Ltd., 4.25%, 10/27/27 (d) |
200 | 167,850 | ||||||||||
i-595 Express LLC, 3.31%, 12/31/31 (c) |
728 | 691,089 | ||||||||||
Transurban Finance Co. Pty. Ltd., 4.13%, 02/02/26 (b) |
580 | 573,984 | ||||||||||
|
|
|||||||||||
2,959,454 | ||||||||||||
Utilities — 1.3% |
||||||||||||
Consensus Cloud Solutions, Inc. (b) |
||||||||||||
6.00%, 10/15/26 |
48 | 41,294 | ||||||||||
6.50%, 10/15/28 |
45 | 37,134 | ||||||||||
Electricite de France SA (b) |
||||||||||||
5.60%, 01/27/40 |
2,800 | 2,678,813 | ||||||||||
(10 year USD Swap + 3.71%), 5.25% (a)(h) |
4,200 | 3,973,304 | ||||||||||
FEL Energy VI SARL, 5.75%, 12/01/40 |
188 | 136,904 | ||||||||||
Genneia SA, 8.75%, 09/02/27 (b) |
92 | 86,573 | ||||||||||
Inkia Energy Ltd., 5.88%, 11/09/27 (b) |
200 | 181,850 | ||||||||||
Mong Duong Finance Holdings BV, 5.13%, 05/07/29 (d) |
576 | 463,428 | ||||||||||
Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28 (b) |
86 | 74,820 | ||||||||||
Star Energy Geothermal Wayang Windu Ltd., 6.75%, 04/24/33 (d) |
214 | 200,306 | ||||||||||
Thames Water Kemble Finance PLC, 4.63%, 05/19/26 (d) |
GBP | 168 | 190,749 | |||||||||
Vistra Operations Co. LLC, 4.38%, 05/01/29 (b) |
USD | 172 | 143,900 | |||||||||
|
|
|||||||||||
8,209,075 | ||||||||||||
Wireless Telecommunication Services — 1.2% |
||||||||||||
Altice France SA (b) |
||||||||||||
5.13%, 07/15/29 |
744 | 561,720 | ||||||||||
5.50%, 10/15/29 |
321 | 245,215 | ||||||||||
Crown Castle International Corp., 3.10%, 11/15/29 |
1,000 | 882,789 | ||||||||||
Kenbourne Invest SA, 6.88%, 11/26/24 (b) |
210 | 191,008 | ||||||||||
Millicom International Cellular SA, 4.50%, 04/27/31 (b) |
200 | 148,000 | ||||||||||
Rogers Communications, Inc., 7.50%, 08/15/38 |
2,325 | 2,812,485 | ||||||||||
SBA Communications Corp. |
||||||||||||
3.13%, 02/01/29 |
17 | 13,915 | ||||||||||
3.88%, 02/15/27 |
333 | 303,959 | ||||||||||
Sprint Corp., 7.63%, 03/01/26 |
234 | 246,549 | ||||||||||
T-Mobile USA, Inc. |
||||||||||||
2.63%, 02/15/29 |
308 | 259,270 | ||||||||||
3.38%, 04/15/29 |
106 | 92,750 | ||||||||||
2.88%, 02/15/31 |
127 | 105,439 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Wireless Telecommunication Services (continued) |
| |||||||||||
T-Mobile USA, Inc. (continued) |
||||||||||||
3.50%, 04/15/31 |
USD | 253 | $ | 218,448 | ||||||||
4.50%, 04/15/50 |
500 | 443,652 | ||||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 02/15/29 (b) |
368 | 269,560 | ||||||||||
Vmed O2 U.K. Financing I PLC |
||||||||||||
4.50%, 07/15/31 (d) |
GBP | 100 | 95,862 | |||||||||
4.75%, 07/15/31 (b) |
USD | 452 | 365,148 | |||||||||
Vodafone Group PLC, 4.25%, 09/17/50 |
700 | 584,879 | ||||||||||
|
|
|||||||||||
7,840,648 | ||||||||||||
|
|
|||||||||||
Total Corporate Bonds — 69.7% (Cost: $496,414,702) |
446,817,045 | |||||||||||
|
|
|||||||||||
Floating Rate Loan Interests (a) |
| |||||||||||
Aerospace & Defense — 0.1% |
||||||||||||
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, 11/17/28 (m) |
52 | 49,357 | ||||||||||
Peraton Corp. |
||||||||||||
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 9.00%, 02/01/29 |
189 | 175,583 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 02/01/28 |
567 | 531,125 | ||||||||||
Spirit Aerosystems, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 01/15/25 |
136 | 132,320 | ||||||||||
|
|
|||||||||||
888,385 | ||||||||||||
Air Freight & Logistics — 0.1% |
||||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.72%, 04/06/28 |
77 | 69,034 | ||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 12/15/28 |
274 | 246,966 | ||||||||||
|
|
|||||||||||
316,000 | ||||||||||||
Airlines — 0.2% |
||||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.81%, 04/20/28 |
433 | 412,067 | ||||||||||
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28 (c) |
237 | 217,447 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 7.31%, 06/21/27 |
141 | 138,555 | ||||||||||
United Airlines, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.39%, 04/21/28 |
433 | 401,814 | ||||||||||
|
|
|||||||||||
1,169,883 | ||||||||||||
Auto Components — 0.0% |
||||||||||||
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 04/30/26 |
69 | 64,221 | ||||||||||
|
|
|||||||||||
Banks — 0.1% |
||||||||||||
Directv Financing LLC, Term Loan, (1 mo. LIBOR + 5.00%, 0.75% Floor), 6.67%, 08/02/27 |
661 | 606,997 | ||||||||||
|
|
Security |
Par (000) |
Value |
||||||||||
Beverages — 0.0% |
||||||||||||
Naked Juice LLC |
||||||||||||
2nd Lien Term Loan, (SOFR + 6.00%), 8.15%, 01/24/30 (c) |
USD | 20 | $ | 18,000 | ||||||||
Term Loan, (SOFR + 3.25%), 5.40%, 01/24/29 |
150 | 139,637 | ||||||||||
|
|
|||||||||||
157,637 | ||||||||||||
Capital Markets — 0.1% |
||||||||||||
AqGen Ascensus, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.50%), 7.50%, 08/02/29 (c) |
122 | 113,400 | ||||||||||
Deerfield Dakota Holding LLC |
||||||||||||
2020 USD Term Loan B, (SOFR + 3.75%, 1.00% Floor), 5.28%, 04/09/27 |
104 | 97,599 | ||||||||||
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 8.42%, 04/07/28 |
145 | 140,650 | ||||||||||
|
|
|||||||||||
351,649 | ||||||||||||
Chemicals — 0.1% |
||||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.00%, 08/27/26 |
250 | 243,106 | ||||||||||
Atotech BV, 2021 USD Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 03/18/28 |
309 | 294,465 | ||||||||||
New Arclin U.S. Holding Corp., 2021 Term Loan , (1 mo. LIBOR + 3.75%), 5.42%, 09/30/28 |
110 | 101,642 | ||||||||||
WR Grace Holdings LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.75%), 6.06%, 09/22/28 |
212 | 200,597 | ||||||||||
|
|
|||||||||||
839,810 | ||||||||||||
Commercial Services & Supplies — 0.1% |
| |||||||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (SOFR + 4.00%), 5.30%, 02/15/29 |
94 | 89,242 | ||||||||||
Asurion LLC, 2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 4.92%, 12/23/26 |
48 | 43,444 | ||||||||||
Propulsion BC Finco SARL, Term Loan, 02/10/29 (c)(m) |
138 | 130,410 | ||||||||||
Tempo Acquisition LLC, 2022 Term Loan B, (SOFR + 3.00%), 4.53%, 08/31/28 |
— | (n) |
1 | |||||||||
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 5.67%, 08/27/25 |
632 | 603,088 | ||||||||||
|
|
|||||||||||
866,185 | ||||||||||||
Communications Equipment — 0.0% |
| |||||||||||
ViaSat, Inc., Term Loan, (SOFR + 4.50%), 6.14%, 03/02/29 |
262 | 243,445 | ||||||||||
|
|
|||||||||||
Construction & Engineering — 0.2% |
||||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.40%, 06/21/24 |
1,337 | 1,152,102 | ||||||||||
|
|
|||||||||||
Construction Materials — 0.0% |
||||||||||||
BCPE Empire Holdings, Inc., 2022 Incremental Term Loan, (SOFR + 4.62%), 6.25%, 06/11/26 |
27 | 25,204 | ||||||||||
Smyrna Ready Mix Concrete LLC, (SOFR + 4.25%), 5.88%, 04/02/29 (c) |
66 | 60,885 | ||||||||||
|
|
|||||||||||
86,089 | ||||||||||||
Containers & Packaging — 0.1% |
||||||||||||
BWAY Holding Co., 2017 Term Loan B, (1 Week LIBOR + 3.25%), 4.31%, 04/03/24 |
206 | 193,112 |
32 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Containers & Packaging (continued) |
||||||||||||
Charter Next Generation, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 12/01/27 |
USD | 129 | $ | 121,466 | ||||||||
Clydesdale Acquisition Holdings, Inc., Term Loan B, (SOFR + 4.25%), 5.88%, 04/13/29 |
112 | 104,492 | ||||||||||
|
|
|||||||||||
419,070 | ||||||||||||
Diversified Consumer Services — 0.1% |
||||||||||||
Amentum Government Services Holdings LLC, Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 01/29/27 |
41 | 39,077 | ||||||||||
Ascend Learning LLC, 2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 7.42%, 12/10/29 (c) |
83 | 75,946 | ||||||||||
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%), 5.54%, 01/15/27 |
113 | 107,732 | ||||||||||
TruGreen LP, 2020 2nd Lien Term Loan, (1 mo. LIBOR + 8.50%, 0.75% Floor), 10.17%, 11/02/28 (c) |
106 | 101,230 | ||||||||||
|
|
|||||||||||
323,985 | ||||||||||||
Diversified Financial Services — 0.2% |
||||||||||||
Delta TopCo, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 5.84%, 12/01/27 |
114 | 103,337 | ||||||||||
EP Purchaser LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 5.75%, 11/06/28 |
102 | 96,688 | ||||||||||
Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.25%, 10/01/27 |
460 | 434,538 | ||||||||||
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (SOFR + 4.00%), 6.20%, 02/16/28 |
66 | 61,736 | ||||||||||
KKR Apple Bidco LLC |
||||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 7.42%, 09/21/29 |
18 | 17,167 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 09/23/28 |
111 | 104,048 | ||||||||||
LBM Acquisition LLC, Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 12/18/27 |
— | (n) |
1 | |||||||||
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 09/25/26 |
39 | 35,992 | ||||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.25%, 09/01/25 |
239 | 195,193 | ||||||||||
White Cap Buyer LLC, Term Loan B, (SOFR + 3.75%), 5.28%, 10/19/27 |
301 | 276,228 | ||||||||||
|
|
|||||||||||
1,324,928 | ||||||||||||
Diversified Telecommunication Services — 0.0% |
||||||||||||
Cincinnati Bell, Inc., 2021 Term Loan B2, (SOFR + 3.25%), 4.88%, 11/22/28 |
58 | 54,658 | ||||||||||
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.06%, 05/01/28 |
195 | 182,522 | ||||||||||
|
|
|||||||||||
237,180 | ||||||||||||
Food Products — 0.0% |
||||||||||||
Chobani LLC, 2020 Term Loan B, 10/25/27 (m) |
20 | 18,444 | ||||||||||
|
|
|||||||||||
Gas Utilities — 0.0% |
||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3 mo. LIBOR + 3.50%), 4.56%, 12/21/28 |
172 | 148,310 | ||||||||||
|
|
|||||||||||
Health Care Providers & Services — 0.1% |
| |||||||||||
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 6.25%, 01/08/27 |
119 | 112,344 |
Security |
Par (000) |
Value |
||||||||||
Health Care Providers & Services (continued) |
| |||||||||||
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/10/25 |
USD | 322 | $ | 105,801 | ||||||||
Quorum Health Corp., 2020 Term Loan, (3 mo. LIBOR + 6.50%, 1.00% Floor), 7.50%, 04/29/25 |
116 | 77,057 | ||||||||||
RegionalCare Hospital Partners Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 11/16/25 |
76 | 71,204 | ||||||||||
|
|
|||||||||||
366,406 | ||||||||||||
Health Care Services — 0.0% |
||||||||||||
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%), 9.88%, 11/01/29 |
78 | 71,760 | ||||||||||
|
|
|||||||||||
Health Care Technology — 0.2% |
||||||||||||
Athenahealth, Inc., 2022 Term Loan B, (SOFR + 3.50%), 5.01%, 02/15/29 |
1,156 | 1,061,527 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%), 5.67%, 06/02/28 |
259 | 238,693 | ||||||||||
|
|
|||||||||||
1,300,220 | ||||||||||||
Hotels, Restaurants & Leisure — 0.1% |
||||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (SOFR + 4.00%), 5.53%, 01/27/29 |
271 | 249,404 | ||||||||||
Great Canadian Gaming Corp., 2021 Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.10%, 11/01/26 |
38 | 35,663 | ||||||||||
IRB Holding Corp., 2022 Term Loan B, (SOFR + 3.15%, 0.75% Floor), 4.24%, 12/15/27 |
115 | 107,113 | ||||||||||
Scientific Games International, Inc., 2022 USD Term Loan, (SOFR + 3.00%), 4.36%, 04/14/29 |
95 | 90,012 | ||||||||||
|
|
|||||||||||
482,192 | ||||||||||||
Household Durables — 0.1% |
||||||||||||
Solis IV BV, USD Term Loan B1, (SOFR + 3.50%), 4.84%, 02/26/29. |
147 | 126,145 | ||||||||||
Springs Windows Fashions LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.60%, 10/06/28 |
284 | 232,760 | ||||||||||
|
|
|||||||||||
358,905 | ||||||||||||
Independent Power and Renewable Electricity Producers — 0.0% |
||||||||||||
Calpine Corp., 2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 3.67%, 08/12/26 |
27 | 25,099 | ||||||||||
|
|
|||||||||||
Industrial Conglomerates — 0.0% |
| |||||||||||
AVSC Holding Corp., 2018 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 1.00% Floor), 8.58%, 09/01/25 |
313 | 247,871 | ||||||||||
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 8.30%, 11/28/23 |
56 | 55,971 | ||||||||||
|
|
|||||||||||
303,842 | ||||||||||||
Insurance — 0.1% |
||||||||||||
Alliant Holdings Intermediate LLC, 2021 Term Loan B4, (1 mo. LIBOR + 3.50%), 5.01%, 11/06/27 |
94 | 87,216 | ||||||||||
Sedgwick Claims Management Services, Inc. |
||||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 12/31/25 |
92 | 86,207 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Insurance (continued) |
||||||||||||
Sedgwick Claims Management Services, Inc. (continued) |
||||||||||||
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 09/03/26 |
USD | 140 | $ | 132,521 | ||||||||
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.92%, 09/03/26 |
51 | 49,724 | ||||||||||
|
|
|||||||||||
355,668 | ||||||||||||
Interactive Media & Services — 0.0% |
||||||||||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.67%, 10/30/26. |
79 | 74,138 | ||||||||||
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26 |
79 | 72,104 | ||||||||||
|
|
|||||||||||
146,242 | ||||||||||||
IT Services — 0.1% |
||||||||||||
Banff Merger Sub, Inc. |
||||||||||||
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 5.50%), 7.17%, 02/27/26 |
279 | 261,390 | ||||||||||
2021 USD Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/02/25 |
45 | 42,363 | ||||||||||
Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 12/01/27 |
234 | 222,859 | ||||||||||
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 02/12/27 (c) |
110 | 98,886 | ||||||||||
|
|
|||||||||||
625,498 | ||||||||||||
Leisure Products — 0.0% |
||||||||||||
Peloton Interactive, Inc., Term Loan, (SOFR + 6.50%), 8.35%, 05/25/27 |
71 | 67,495 | ||||||||||
|
|
|||||||||||
Machinery — 0.2% |
||||||||||||
MHI Holdings LLC, Term Loan B, (1 mo. LIBOR + 5.00%), 7.25%, 09/21/26 (c) |
228 | 217,290 | ||||||||||
SPX Flow, Inc., (SOFR + 4.50%), 6.13%, 04/05/29 |
254 | 236,474 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (6 mo. LIBOR + 3.00%), 5.88%, 03/28/25 |
577 | 527,645 | ||||||||||
|
|
|||||||||||
981,409 | ||||||||||||
Media — 0.2% |
||||||||||||
Altice Financing SA, 2017 USD Term Loan B, (3 mo. LIBOR + 2.75%), 3.79%, 07/15/25 |
23 | 20,635 | ||||||||||
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 5.41%, 08/14/26 |
94 | 85,863 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 4.74%, 08/21/26 |
590 | 505,521 | ||||||||||
Intelsat Jackson Holdings SA, 2021 Exit Term Loan B, (SOFR + 4.25%), 4.92%, 02/01/29 |
238 | 218,208 | ||||||||||
MH Sub I LLC |
||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.42%, 09/13/24 |
90 | 84,287 | ||||||||||
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.42%, 09/13/24 |
207 | 194,420 | ||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 7.92%, 02/23/29 |
35 | 32,842 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 03/09/27 |
387 | 355,330 | ||||||||||
|
|
|||||||||||
1,497,106 |
Security |
Par (000) |
Value |
||||||||||
Metals & Mining — 0.0% |
||||||||||||
Grinding Media, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.80%, 10/12/28 (c) |
USD | 64 | $ | 57,798 | ||||||||
|
|
|||||||||||
Oil, Gas & Consumable Fuels — 0.3% |
||||||||||||
Ascent Resources Utica LLC, 2020 Fixed 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%, 1.00% Floor), 10.02%, 11/01/25 |
1,541 | 1,615,717 | ||||||||||
Lealand Finance Co. BV, 2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 06/28/24 |
9 | 5,013 | ||||||||||
|
|
|||||||||||
1,620,730 | ||||||||||||
Professional Services — 0.1% |
||||||||||||
Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 3.25%), 4.87%, 02/06/26 |
114 | 106,800 | ||||||||||
Element Materials Technology Group U.S. Holdings, Inc. (m) |
||||||||||||
2022 USD Delayed Draw Term Loan B, 04/12/29 |
. | 39 | 37,698 | |||||||||
2022 USD Delayed Draw Term Loan D, 04/12/29 |
|
85 | 81,678 | |||||||||
Galaxy U.S. Opco, Inc., Term Loan, (SOFR + 4.75%), 6.28%, 04/29/29 |
179 | 167,589 | ||||||||||
|
|
|||||||||||
393,765 | ||||||||||||
Real Estate Management & Development — 0.0% |
||||||||||||
Chamberlain Group, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 5.17%, 11/03/28 |
249 | 224,081 | ||||||||||
|
|
|||||||||||
Software — 0.7% |
||||||||||||
Barracuda Networks, Inc., 2020 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.99%, 10/30/28 |
91 | 90,742 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, 07/06/29 (m) |
119 | 112,173 | ||||||||||
Cloudera, Inc. |
||||||||||||
2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%), 7.67%, 10/08/29 (c) |
180 | 156,600 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/08/28 |
229 | 209,757 | ||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/28/24 (c) |
375 | 323,648 | ||||||||||
Epicor Software Corp. |
||||||||||||
2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 9.42%, 07/31/28 |
62 | 60,016 | ||||||||||
2020 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 07/30/27 |
90 | 84,791 | ||||||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 3.75%), 5.95%, 03/11/28 |
|
80 | 73,701 | |||||||||
Magenta Buyer LLC |
||||||||||||
2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 6.23%, 07/27/28 |
569 | 509,591 | ||||||||||
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor), 9.48%, 07/27/29 |
280 | 254,800 | ||||||||||
McAfee LLC, 2022 USD Term Loan B, (SOFR + 4.00%), 5.15%, 03/01/29 |
744 | 675,180 | ||||||||||
Planview Parent, Inc., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.92%, 12/18/28 (c) |
103 | 97,850 | ||||||||||
Proofpoint, Inc. |
||||||||||||
1st Lien Term Loan, (3 mo. LIBOR + 3.25%), 4.82%, 08/31/28 |
19 | 17,812 | ||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 7.82%, 08/31/29 |
242 | 231,110 |
34 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Software (continued) |
||||||||||||
RealPage, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 04/24/28 |
USD | 218 | $ | 201,336 | ||||||||
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.92%, 05/30/25 |
9 | 8,878 | ||||||||||
Sabre Global, Inc. |
||||||||||||
2021 Term Loan B1, (1 mo. LIBOR + 3.50%), 5.17%, 12/17/27 |
68 | 63,010 | ||||||||||
2021 Term Loan B2, (1 mo. LIBOR + 3.50%), 5.17%, 12/17/27 |
108 | 100,442 | ||||||||||
Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 5.50%, 10/07/27 |
516 | 479,937 | ||||||||||
Sovos Compliance LLC |
||||||||||||
2021 Delayed Draw Term Loan, (1 mo. LIBOR + 4.50%), 6.15%, 08/11/28 |
17 | 16,430 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 4.50%), 6.17%, 08/11/28 |
101 | 94,664 | ||||||||||
Tibco Software, Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.25%, 03/03/28 |
189 | 184,936 | ||||||||||
Ultimate Software Group, Inc. |
||||||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%), 6.21%, 05/03/27 |
280 | 257,272 | ||||||||||
2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.21%, 05/04/26 |
187 | 174,985 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 05/04/26 |
145 | 136,356 | ||||||||||
|
|
|||||||||||
4,616,017 | ||||||||||||
Specialty Retail — 0.0% |
||||||||||||
PetSmart, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28 |
27 | 24,933 | ||||||||||
Staples, Inc., 7 Year Term Loan, (3 mo. LIBOR + 5.00%), 6.29%, 04/16/26 |
74 | 64,589 | ||||||||||
|
|
|||||||||||
89,522 | ||||||||||||
Textiles, Apparel & Luxury Goods — 0.1% |
||||||||||||
Crocs, Inc., Term Loan B, (SOFR + 3.50%), 4.45%, 02/17/29 |
606 | 549,857 | ||||||||||
|
|
|||||||||||
Trading Companies & Distributors — 0.0% |
| |||||||||||
Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.49%, 01/31/28 (c) |
68 | 59,459 | ||||||||||
SRS Distribution, Inc., 2022 Incremental Term Loan, (SOFR + 3.50%), 4.00%, 06/02/28 |
177 | 162,223 | ||||||||||
|
|
|||||||||||
221,682 | ||||||||||||
Transportation — 0.0% |
||||||||||||
Brown Group Holding, LLC, 2022 Term Loan B2, 07/02/29 (m) |
175 | 167,708 | ||||||||||
|
|
|||||||||||
Wireless Telecommunication Services — 0.0% |
| |||||||||||
MetroNet Systems Holdings LLC, 2021 1st Lien Term Loan, (SOFR + 3.75%), 5.05%, 06/02/28 |
14 | 12,862 | ||||||||||
|
|
|||||||||||
Total Floating Rate Loan Interests — 3.7% (Cost: $25,742,255) |
|
23,750,184 | ||||||||||
|
|
Security |
Par (000) |
Value |
||||||||||
Foreign Agency Obligations |
||||||||||||
Argentina — 0.0% |
||||||||||||
Argentine Republic Government International Bond, 2.50%, 07/09/41 (o) |
USD | 245 | $ | 63,019 | ||||||||
|
|
|||||||||||
Bahrain — 0.0% |
||||||||||||
Bahrain Government International Bond, 6.75%, 09/20/29 (d) |
200 | 190,975 | ||||||||||
|
|
|||||||||||
Canada — 1.1% |
||||||||||||
CDP Financial, Inc., 5.60%, 11/25/39 (b)(e) |
5,890 | 6,825,753 | ||||||||||
|
|
|||||||||||
Chile — 0.0% |
||||||||||||
Chile Government International Bond, 4.34%, 03/07/42 |
200 | 178,500 | ||||||||||
|
|
|||||||||||
Colombia — 0.1% |
||||||||||||
Colombia Government International Bond |
||||||||||||
4.50%, 01/28/26 |
300 | 281,212 | ||||||||||
3.88%, 04/25/27 |
200 | 176,475 | ||||||||||
3.13%, 04/15/31 |
200 | 148,350 | ||||||||||
|
|
|||||||||||
606,037 | ||||||||||||
Dominican Republic — 0.1% |
||||||||||||
Dominican Republic International Bond |
||||||||||||
5.95%, 01/25/27 (d) |
228 | 217,711 | ||||||||||
5.50%, 02/22/29 (b) |
160 | 139,030 | ||||||||||
4.50%, 01/30/30 (b) |
226 | 180,348 | ||||||||||
4.88%, 09/23/32 (b) |
150 | 115,294 | ||||||||||
6.40%, 06/05/49 (d) |
150 | 111,544 | ||||||||||
|
|
|||||||||||
763,927 | ||||||||||||
Egypt — 0.0% |
||||||||||||
Egypt Government International Bond, 7.50%, 02/16/61 (b) |
219 | 120,998 | ||||||||||
|
|
|||||||||||
Guatemala — 0.1% |
||||||||||||
Guatemala Government Bond |
||||||||||||
4.50%, 05/03/26 (d) |
200 | 192,162 | ||||||||||
5.38%, 04/24/32 (b) |
200 | 184,163 | ||||||||||
|
|
|||||||||||
376,325 | ||||||||||||
Hungary — 0.0% |
||||||||||||
Hungary Government International Bond, 5.25%, 06/16/29 (b) |
200 | 199,271 | ||||||||||
|
|
|||||||||||
Indonesia — 0.1% |
||||||||||||
Indonesia Government International Bond, 4.10%, 04/24/28 |
300 | 294,712 | ||||||||||
|
|
|||||||||||
Italy — 0.5% |
||||||||||||
Republic of Italy Government International Bond, 5.38%, 06/15/33 |
2,925 | 3,021,151 | ||||||||||
|
|
|||||||||||
Ivory Coast — 0.0% |
||||||||||||
Ivory Coast Government International Bond, 6.38%, 03/03/28 (d) |
200 | 176,788 | ||||||||||
|
|
|||||||||||
Mexico — 0.1% |
||||||||||||
Mexico Government International Bond |
||||||||||||
3.75%, 01/11/28 |
200 | 191,900 | ||||||||||
2.66%, 05/24/31 |
269 | 221,387 | ||||||||||
|
|
|||||||||||
413,287 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Mongolia — 0.0% |
||||||||||||
Mongolia Government International Bond, 5.13%, 04/07/26 (d) |
USD | 250 | $ | 222,527 | ||||||||
|
|
|||||||||||
Morocco — 0.0% |
||||||||||||
Morocco Government International Bond, 3.00%, 12/15/32 (b) |
221 | 156,910 | ||||||||||
|
|
|||||||||||
Nigeria — 0.0% |
||||||||||||
Nigeria Government International Bond, 7.88%, 02/16/32 (d) |
200 | 138,500 | ||||||||||
|
|
|||||||||||
Oman — 0.1% |
||||||||||||
Oman Government International Bond (d) |
||||||||||||
6.50%, 03/08/47 |
228 | 191,235 | ||||||||||
6.75%, 01/17/48 |
200 | 172,000 | ||||||||||
|
|
|||||||||||
363,235 | ||||||||||||
Pakistan — 0.0% |
||||||||||||
Pakistan Government International Bond, 6.00%, 04/08/26 (d) |
200 | 134,022 | ||||||||||
|
|
|||||||||||
Panama — 0.1% |
||||||||||||
Panama Government International Bond |
||||||||||||
3.88%, 03/17/28 |
200 | 190,912 | ||||||||||
3.16%, 01/23/30 |
253 | 225,376 | ||||||||||
|
|
|||||||||||
416,288 | ||||||||||||
Paraguay — 0.1% |
||||||||||||
Paraguay Government International Bond (b) |
||||||||||||
4.95%, 04/28/31 |
200 | 184,537 | ||||||||||
5.40%, 03/30/50 |
200 | 154,663 | ||||||||||
|
|
|||||||||||
339,200 | ||||||||||||
Peru — 0.0% |
||||||||||||
Peruvian Government International Bond |
||||||||||||
2.78%, 01/23/31 |
126 | 107,242 | ||||||||||
1.86%, 12/01/32 |
171 | 130,045 | ||||||||||
|
|
|||||||||||
237,287 | ||||||||||||
Qatar — 0.0% |
||||||||||||
Qatar Government International Bond, 4.00%, 03/14/29 (b) |
240 | 242,400 | ||||||||||
|
|
|||||||||||
Romania — 0.1% |
||||||||||||
Romanian Government International Bond (b) |
||||||||||||
5.25%, 11/25/27 |
154 | 146,685 | ||||||||||
3.00%, 02/14/31 |
108 | 83,079 | ||||||||||
3.63%, 03/27/32 |
156 | 121,807 | ||||||||||
|
|
|||||||||||
351,571 | ||||||||||||
Saudi Arabia — 0.1% |
||||||||||||
Saudi Government International Bond (d) |
||||||||||||
4.50%, 04/17/30 |
278 | 283,560 | ||||||||||
2.25%, 02/02/33 |
222 | 184,260 | ||||||||||
|
|
|||||||||||
467,820 | ||||||||||||
South Africa — 0.1% |
||||||||||||
Republic of South Africa Government International Bond |
||||||||||||
4.85%, 09/30/29 |
200 | 170,725 | ||||||||||
5.88%, 04/20/32 |
200 | 169,000 | ||||||||||
|
|
|||||||||||
339,725 |
Security |
Par (000) |
Value |
||||||||||
Sri Lanka — 0.0% |
||||||||||||
Sri Lanka Government International Bond (d)(k)(l) |
||||||||||||
6.85%, 03/14/24 |
USD | 432 | $ | 121,008 | ||||||||
7.85%, 03/14/29 |
200 | 56,022 | ||||||||||
|
|
|||||||||||
177,030 | ||||||||||||
Ukraine — 0.0% |
||||||||||||
Ukraine Government International Bond |
||||||||||||
7.75%, 09/01/25 (d) |
385 | 95,288 | ||||||||||
7.25%, 03/15/33 (b) |
200 | 49,000 | ||||||||||
|
|
|||||||||||
144,288 | ||||||||||||
Uruguay — 0.0% |
||||||||||||
Uruguay Government International Bond, 4.38%, 10/27/27 |
90 | 91,029 | ||||||||||
|
|
|||||||||||
Total Foreign Agency Obligations — 2.7% (Cost: $18,207,650) |
|
17,052,575 | ||||||||||
|
|
|||||||||||
Municipal Bonds |
||||||||||||
California — 0.9% |
||||||||||||
East Bay Municipal Utility District Water System Revenue, RB, BAB, 5.87%, 06/01/40 |
1,900 | 2,250,740 | ||||||||||
State of California, GO, BAB |
||||||||||||
7.55%, 04/01/39 |
280 | 380,623 | ||||||||||
7.63%, 03/01/40 |
1,720 | 2,322,471 | ||||||||||
University of California, RB, BAB, 5.95%, 05/15/45 |
885 | 1,017,250 | ||||||||||
|
|
|||||||||||
5,971,084 | ||||||||||||
Georgia — 0.3% |
||||||||||||
Municipal Electric Authority of Georgia, Refunding RB, BAB, 7.06%, 04/01/57 |
1,929 | 2,195,891 | ||||||||||
|
|
|||||||||||
Illinois — 0.3% |
||||||||||||
State of Illinois, GO, 5.10%, 06/01/33 |
2,000 | 2,008,682 | ||||||||||
|
|
|||||||||||
Indiana — 0.5% |
||||||||||||
Indianapolis Local Public Improvement Bond Bank, RB, BAB, Series B-2, 6.12%, 01/15/40 |
2,535 | 2,958,782 | ||||||||||
|
|
|||||||||||
New Jersey — 0.1% |
||||||||||||
State of New Jersey, GO |
||||||||||||
Series A, 4.00%, 06/01/30 |
250 | 265,672 | ||||||||||
Series A, 4.00%, 06/01/31 |
190 | 200,082 | ||||||||||
Series A, 4.00%, 06/01/32 |
180 | 189,203 | ||||||||||
|
|
|||||||||||
654,957 | ||||||||||||
New York — 1.4% |
||||||||||||
Metropolitan Transportation Authority, RB, BAB, 7.34%, 11/15/39 |
1,295 | 1,745,657 | ||||||||||
New York City Industrial Development Agency, Refunding RB |
||||||||||||
(AGM), 3.19%, 03/01/40 |
165 | 135,239 | ||||||||||
Class A, (AGM), 3.00%, 01/01/46 |
50 | 38,530 | ||||||||||
New York City Municipal Water Finance Authority, Refunding RB, BAB, 5.72%, 06/15/42 |
1,390 | 1,621,062 | ||||||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Series E-1, 4.00%, 02/01/41 |
1,000 | 976,032 | ||||||||||
New York State Dormitory Authority, RB, BAB Series D, 5.60%, 03/15/40 |
1,900 | 2,117,723 |
36 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
New York (continued) |
||||||||||||
New York State Dormitory Authority, RB, BAB (continued) |
||||||||||||
Series F, 5.63%, 03/15/39 |
USD | 1,100 | $ | 1,200,950 | ||||||||
Port Authority of New York & New Jersey, RB, 159th Series, 6.04%, 12/01/29 |
780 | 876,338 | ||||||||||
|
|
|||||||||||
8,711,531 | ||||||||||||
|
|
|||||||||||
Total Municipal Bonds — 3.5% (Cost: $20,708,226) |
22,500,927 | |||||||||||
|
|
|||||||||||
Non-Agency Mortgage-Backed Securities |
| |||||||||||
Collateralized Mortgage Obligations — 4.8% |
| |||||||||||
Alternative Loan Trust |
||||||||||||
Series 2005-64CB, Class 1A15, 5.50%, 12/25/35 |
463 | 427,804 | ||||||||||
Series 2006-OA21, Class A1, (1 mo. LIBOR US + 0.19%), 1.80%, 03/20/47 (a) |
419 | 337,352 | ||||||||||
Series 2007-OA10, Class 2A1, (1 mo. LIBOR US + 0.50%), 2.12%, 09/25/47 (a) |
4,297 | 3,443,637 | ||||||||||
Banc of America Funding Trust, Series 2007-2, Class 1A2, 6.00%, 03/25/37 |
241 | 209,233 | ||||||||||
BRAVO Residential Funding Trust, Series 2021- NQM1, Class A1, 0.94%, 02/25/49 (a)(b) |
1,025 | 957,551 | ||||||||||
Chase Home Lending Mortgage Trust, Class A12, 6.50%, 04/25/49 (a)(b) |
672 | 670,717 | ||||||||||
COLT Mortgage Loan Trust (a)(b) |
||||||||||||
Series 2020-2, Class M1, 5.25%, 03/25/65 |
3,050 | 2,969,894 | ||||||||||
Series 2020-3, Class M1, 3.36%, 04/27/65 |
3,820 | 3,580,396 | ||||||||||
Series 2022-1, Class A1, 4.55%, 04/25/67 |
1,788 | 1,765,279 | ||||||||||
Deephaven Residential Mortgage Trust, Series 2022-2, Class A1, 4.30%, 03/25/67 (a)(b) |
315 | 306,073 | ||||||||||
Ellington Financial Mortgage Trust, Series 2020-1, Class M1, 5.24%, 05/25/65 (a)(b) |
1,500 | 1,473,097 | ||||||||||
GMACM Mortgage Loan Trust, Series 2005-AR3, Class 5A1, 3.23%, 06/19/35 (a) |
110 | 103,937 | ||||||||||
GS Mortgage-Backed Securities Corp. Trust, Series 2022-PJ2, Class A4, 2.50%, 06/25/52 (a)(b) |
1,150 | 979,825 | ||||||||||
GS Mortgage-Backed Securities Trust (a)(b) |
||||||||||||
2.50%, 11/25/51 |
989 | 848,145 | ||||||||||
Series 2021-PJ7, Class A2, 2.50%, 01/25/52 |
2,589 | 2,207,420 | ||||||||||
GSR Mortgage Loan Trust, Series 2007-4F, Class 3A1, 6.00%, 07/25/37 |
84 | 62,321 | ||||||||||
JP Morgan Mortgage Trust |
||||||||||||
Series 2006-S3, Class 1A12, 6.50%, 08/25/36 |
42 | 19,765 | ||||||||||
Series 2022-INV3, Class A3B, 3.00%, 09/25/52 (a)(b) |
818 | 726,520 | ||||||||||
Mello Mortgage Capital Acceptance, Series 2022- INV2, Class A3, 3.00%, 04/25/52 (a)(b) |
841 | 746,377 | ||||||||||
Merrill Lynch Mortgage Investors Trust, Series 2006- A3, Class 3A1, 2.79%, 05/25/36 (a) |
170 | 133,619 | ||||||||||
MFA Trust, Series 2021-NQM1, Class M1, 2.31%, 04/25/65 (a)(b) |
2,750 | 2,492,863 | ||||||||||
OBX Trust, Series 2022-INC3, Class A1, 3.00%, 02/25/52 (a)(b) |
750 | 663,110 | ||||||||||
RCKT Mortgage Trust, Series 2022-2, Class A1, 3.00%, 02/25/52 (a)(b) |
1,128 | 998,697 |
Security |
Par (000) |
Value |
||||||||||
Collateralized Mortgage Obligations (continued) |
| |||||||||||
STAR Trust, Series 2021-1, Class M1, 2.36%, 05/25/65 (a)(b) |
USD | 2,050 | $ | 1,922,994 | ||||||||
Starwood Mortgage Residential Trust, Series 2020-3, Class M1, 3.54%, 04/25/65 (a)(b) |
2,000 | 1,926,736 | ||||||||||
Verus Securitization Trust, Series 2022-3, Class A1, 4.13%, 02/25/67 (b) |
947 | 927,986 | ||||||||||
|
|
|||||||||||
30,901,348 | ||||||||||||
Commercial Mortgage-Backed Securities (a) — 4.9% |
||||||||||||
BAMLL Commercial Mortgage Securities Trust, Series 2015-200P, Class C, 3.72%, 04/14/33 (b) |
4,170 | 3,919,664 | ||||||||||
Bayview Commercial Asset Trust, Series 2007-2A, Class A1, (1 mo. LIBOR US + 0.27%), 1.89%, 07/25/37 (b) |
761 | 671,041 | ||||||||||
Citigroup Commercial Mortgage Trust |
||||||||||||
Series 2013-GC15, Class B, 5.35%, 09/10/46 |
7,183 | 7,153,583 | ||||||||||
Series 2020-420K, Class D, 3.42%, 11/10/42 (b) |
270 | 209,400 | ||||||||||
COMM Mortgage Trust |
||||||||||||
Series 2015-CR22, Class C, 4.21%, 03/10/48 |
5,000 | 4,726,726 | ||||||||||
Series 2015-LC19, Class C, 4.37%, 02/10/48 |
3,500 | 3,361,730 | ||||||||||
Commercial Mortgage Trust, Series 2013-CR11, Class B, 5.28%, 08/10/50 |
7,000 | 7,007,237 | ||||||||||
Credit Suisse Mortgage Capital Certificates Trust, Series 2020-FACT, Class D, (1 mo. LIBOR US + 3.71%), 5.03%, 10/15/37 (b) |
900 | 856,359 | ||||||||||
Extended Stay America Trust, Series 2021-ESH, Class D, (1 mo. LIBOR US + 2.25%), 3.58%, 07/15/38 (b) |
825 | 795,922 | ||||||||||
GS Mortgage Securities Corp. Trust, Series 2020- TWN3, Class D, (1 mo. LIBOR US + 3.70%), 5.02%, 11/15/37 (b) |
1,500 | 1,467,240 | ||||||||||
Lehman Brothers Small Balance Commercial Mortgage Trust, Series 2006-1A, Class B, (1 mo. LIBOR US + 1.00%), 2.62%, 04/25/31 (b) |
1,366 | 1,338,162 | ||||||||||
|
|
|||||||||||
31,507,064 | ||||||||||||
|
|
|||||||||||
Total Non-Agency Mortgage-Backed Securities — 9.7% |
| |||||||||||
(Cost: $65,355,196) |
|
62,408,412 | ||||||||||
|
|
|||||||||||
Preferred Securities |
||||||||||||
Capital Trusts — 6.5% |
||||||||||||
Automobiles — 0.0% |
||||||||||||
Volkswagen International Finance NV, 4.38% (a)(d)(h) |
EUR | 100 | 84,083 | |||||||||
|
|
|||||||||||
Banks (a)(h) — 1.9% |
||||||||||||
Banco Mercantil del Norte SA, 6.75% (b) |
USD | 200 | 187,750 | |||||||||
Bank of East Asia Ltd., 5.88% (d) |
250 | 246,062 | ||||||||||
Credit Agricole SA, 4.75% (b) |
200 | 155,433 | ||||||||||
Industrial & Commercial Bank of China Ltd., 3.20% (d) |
250 | 236,250 | ||||||||||
ING Groep NV, 3.88% |
2,000 | 1,448,429 | ||||||||||
Kasikornbank PCL, 5.28% (d) |
300 | 274,931 | ||||||||||
Nordea Bank Abp, 6.13% (b) |
2,960 | 2,851,321 | ||||||||||
Rizal Commercial Banking Corp., 6.50% (d) |
200 | 191,163 | ||||||||||
SVB Financial Group, Series C, 4.00% |
2,000 | 1,523,960 | ||||||||||
TMBThanachart Bank PCL, 4.90% (d) |
250 | 228,016 |
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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Banks (continued) |
||||||||||||
U.S. Bancorp, 3.70% |
USD | 1,900 | $ | 1,458,250 | ||||||||
Wells Fargo & Co., Series S, 5.90% (e) |
3,390 | 3,065,238 | ||||||||||
|
|
|||||||||||
11,866,803 | ||||||||||||
Capital Markets — 0.4% |
||||||||||||
Bank of New York Mellon Corp., Series I, 3.75% (a)(e)(h) |
2,845 | 2,322,457 | ||||||||||
|
|
|||||||||||
Diversified Financial Services (a)(h) — 3.4% |
||||||||||||
Bank of America Corp. |
||||||||||||
Series FF, 5.88% (e) |
3,500 | 3,073,110 | ||||||||||
Series X, 6.25% |
1,050 | 1,020,600 | ||||||||||
Barclays PLC, 4.38% |
310 | 237,728 | ||||||||||
Credit Suisse Group AG, 6.38% (b) |
300 | 247,874 | ||||||||||
HSBC Holdings PLC |
||||||||||||
6.50% |
1,090 | 987,089 | ||||||||||
6.00% |
435 | 389,869 | ||||||||||
JPMorgan Chase & Co. |
||||||||||||
Series FF, 5.00% |
3,027 | 2,671,328 | ||||||||||
Series HH, 4.60% |
165 | 139,346 | ||||||||||
Series I, 4.71% (e) |
3,581 | 3,394,788 | ||||||||||
Series V, 5.60% (e) |
3,640 | 3,403,400 | ||||||||||
Lloyds Banking Group PLC, 7.50% |
1,750 | 1,705,676 | ||||||||||
NatWest Group PLC, 6.00% |
1,575 | 1,457,517 | ||||||||||
Societe Generale SA, 7.88% (b) |
1,000 | 979,810 | ||||||||||
UBS Group AG, 3.88% (b) |
2,000 | 1,627,943 | ||||||||||
Woori Bank, 4.25% (d) |
250 | 239,656 | ||||||||||
|
|
|||||||||||
21,575,734 | ||||||||||||
Electric Utilities (a) — 0.4% |
||||||||||||
Edison International, Series B, 5.00% (h) |
115 | 91,497 | ||||||||||
NextEra Energy Capital Holdings, Inc., 5.65%, 05/01/79 |
2,750 | 2,416,429 | ||||||||||
|
|
|||||||||||
2,507,926 | ||||||||||||
Independent Power and Renewable Electricity Producers — 0.0% |
||||||||||||
Vistra Corp., 7.00% (a)(b)(h) |
162 | 147,015 | ||||||||||
|
|
|||||||||||
Insurance — 0.4% |
||||||||||||
Heungkuk Life Insurance Co. Ltd., 4.48% (a)(d)(h) |
200 | 194,850 | ||||||||||
MetLife, Inc., 6.40%, 12/15/66 |
2,554 | 2,567,434 | ||||||||||
|
|
|||||||||||
2,762,284 | ||||||||||||
Real Estate Management & Development — 0.0% |
||||||||||||
Aroundtown SA, 3.38% (a)(d)(h) |
EUR | 100 | 77,278 | |||||||||
|
|
|||||||||||
Utilities — 0.0% |
||||||||||||
Electricite de France SA, 3.38% (a)(d)(h) |
200 | 136,225 | ||||||||||
|
|
|||||||||||
Wireless Telecommunication Services — 0.0% |
||||||||||||
Vodafone Group PLC, 3.10%, 01/03/79 (a)(d) |
100 | 100,066 | ||||||||||
|
|
|||||||||||
41,579,871 | ||||||||||||
|
|
|||||||||||
Shares |
||||||||||||
Preferred Stocks — 0.6% (a)(h) |
||||||||||||
Capital Markets — 0.6% |
||||||||||||
Goldman Sachs Group, Inc., Series J, 5.50% |
92,000 | 2,248,480 | ||||||||||
Morgan Stanley, Series K, 5.85% |
66,567 | 1,646,202 | ||||||||||
|
|
|||||||||||
3,894,682 |
Security |
Shares |
Value |
||||||||||
Thrifts & Mortgage Finance — 0.0% |
||||||||||||
Fannie Mae, Series S |
10,000 | $ | 34,800 | |||||||||
|
|
|||||||||||
3,929,482 | ||||||||||||
|
|
|||||||||||
Trust Preferred — 0.1% |
||||||||||||
Banks — 0.1% |
||||||||||||
Citigroup Capital XIII, 7.61%, 10/30/40 (a) |
29,583 | 792,824 | ||||||||||
|
|
|||||||||||
792,824 | ||||||||||||
|
|
|||||||||||
Total Preferred Securities — 7.2% (Cost: $52,636,215) |
|
46,302,177 | ||||||||||
|
|
|||||||||||
Par (000) |
||||||||||||
U.S. Government Sponsored Agency Securities |
| |||||||||||
Agency Obligations — 1.0% |
||||||||||||
Fannie Mae, 5.63%, 07/15/37 (e) |
USD | 1,600 | 1,951,327 | |||||||||
Resolution Funding Corp. Principal Strip, 0.00%, 04/15/30 (g) |
6,055 | 4,617,177 | ||||||||||
|
|
|||||||||||
6,568,504 | ||||||||||||
Collateralized Mortgage Obligations — 4.9% |
||||||||||||
Fannie Mae REMICS |
||||||||||||
Series 2015-47, Class GL, 3.50%, 07/25/45 |
1,636 | 1,573,829 | ||||||||||
Series 2022-25, Class KL, 4.00%, 05/25/52 |
14,500 | 14,194,179 | ||||||||||
Freddie Mac REMICS |
||||||||||||
Series 4350, Class DY, 4.00%, 06/15/44 |
1,996 | 2,023,648 | ||||||||||
Series 4398, Class ZX, 4.00%, 09/15/54 |
10,458 | 10,305,393 | ||||||||||
Series 4549, Class TZ, 4.00%, 11/15/45 |
3,187 | 3,214,126 | ||||||||||
|
|
|||||||||||
31,311,175 | ||||||||||||
Interest Only Collateralized Mortgage Obligations — 0.1% |
||||||||||||
Fannie Mae REMICS |
||||||||||||
Series 1997-50, Class SI, (1 mo. LIBOR US + 9.20%), 1.20%, 04/25/23 (a) |
1 | 3 | ||||||||||
Series 2012-47, Class NI, 4.50%, 04/25/42 |
1,039 | 215,188 | ||||||||||
Ginnie Mae (a) |
||||||||||||
Series 2009-116, Class KS, (1 mo. LIBOR US + 6.47%), 4.96%, 12/16/39 |
713 | 76,716 | ||||||||||
Series 2011-52, Class NS, (1 mo. LIBOR US + 6.67%), 5.16%, 04/16/41 |
6,124 | 636,582 | ||||||||||
|
|
|||||||||||
928,489 | ||||||||||||
Mortgage-Backed Securities — 24.8% |
||||||||||||
Fannie Mae Mortgage-Backed Securities (e) |
||||||||||||
3.00%, 07/14/22 |
7,306 | 6,865,806 | ||||||||||
4.00%, 07/14/22 |
3,364 | 3,363,808 | ||||||||||
4.50%, 07/14/22 |
3,312 | 3,435,671 | ||||||||||
Freddie Mac Mortgage-Backed Securities (e) |
||||||||||||
3.00%, 07/14/22 |
1,998 | 1,975,848 | ||||||||||
4.50%, 07/14/22 |
663 | 684,310 | ||||||||||
Ginnie Mae Mortgage-Backed Securities, 5.50%, 08/15/33 |
27 | 27,817 | ||||||||||
Uniform Mortgage-Backed Securities (e) |
||||||||||||
2.00%, 07/14/22 - 01/03/51 |
19,715 | 17,190,614 | ||||||||||
3.00%, 07/14/22 |
5,266 | 5,031,272 | ||||||||||
3.50%, 07/14/22 - 04/01/52 |
15,000 | 14,683,269 | ||||||||||
4.00%, 07/14/22 - 04/25/52 (p) |
62,689 | 61,976,058 | ||||||||||
4.50%, 07/14/22 |
3,409 | 3,515,441 | ||||||||||
5.50%, 07/14/22 |
309 | 331,508 | ||||||||||
6.00%, 07/14/22 |
259 | 283,360 |
38 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Mortgage-Backed Securities (continued) |
||||||||||||
Uniform Mortgage-Backed Securities (e) (continued) |
| |||||||||||
5.00%, 08/01/34 |
USD | 634 | $ | 666,780 | ||||||||
2.50%, 10/01/51 - 01/01/52 |
42,608 | 38,624,750 | ||||||||||
|
|
|||||||||||
158,656,312 | ||||||||||||
Principal Only Collateralized Mortgage Obligations (q) — 0.0% |
||||||||||||
Fannie Mae Interest Strip |
||||||||||||
Series 203, Class 1, 0.00%, 02/25/23 |
— | (n) |
64 | |||||||||
Series 228, Class 1, 0.00%, 06/25/23 |
— | (n) |
53 | |||||||||
Fannie Mae REMICS |
||||||||||||
Series 1993-51, Class E, 0.00%, 02/25/23 |
— | (n) |
213 | |||||||||
Series 1993-70, Class A, 0.00%, 05/25/23 |
— | (n) |
68 | |||||||||
|
|
|||||||||||
398 | ||||||||||||
|
|
|||||||||||
Total U.S. Government Sponsored Agency Securities — 30.8% |
|
|||||||||||
(Cost: $206,676,043) |
|
197,464,878 | ||||||||||
|
|
|||||||||||
U.S. Treasury Obligations |
||||||||||||
U.S. Treasury Bonds (e) |
||||||||||||
1.88%, 02/15/41 - 02/15/51 |
29,800 | 22,490,055 | ||||||||||
3.00%, 11/15/44 |
61,400 | 56,898,133 | ||||||||||
2.50%, 02/15/46 |
66,500 | 56,387,324 | ||||||||||
2.75%, 11/15/47 |
2,000 | 1,791,719 | ||||||||||
U.S. Treasury Notes (e) |
||||||||||||
2.75%, 04/30/23 - 08/31/25 |
29,300 | 29,134,949 | ||||||||||
3.00%, 09/30/25 |
2,400 | 2,396,531 | ||||||||||
2.88%, 08/15/28 |
1,000 | 987,813 | ||||||||||
3.13%, 11/15/28 |
3,000 | 3,006,211 | ||||||||||
1.13%, 02/15/31 |
19,000 | 16,326,641 | ||||||||||
|
|
|||||||||||
Total U.S. Treasury Obligations — 29.6% (Cost: $212,164,260) |
|
189,419,376 | ||||||||||
|
|
|||||||||||
Total Long-Term Investments — 167.1% (Cost: $1,167,482,395) |
|
1,070,825,641 | ||||||||||
|
|
|||||||||||
Shares |
||||||||||||
Short-Term Securities |
||||||||||||
Money Market Funds — 2.8% |
||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33%(r)(s) |
18,146,817 | 18,146,817 | ||||||||||
|
|
|||||||||||
Total Short-Term Securities — 2.8% (Cost: $18,146,817) |
|
18,146,817 | ||||||||||
|
|
|||||||||||
Total Investments Before TBA Sale Commitments — 169.9% |
|
|||||||||||
(Cost: $1,185,629,212) |
|
1,088,972,458 | ||||||||||
|
|
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
TBA Sale Commitments |
||||||||||||
Mortgage-Backed Securities — (3.9)% |
| |||||||||||
Uniform Mortgage-Backed Securities, 4.00%, 07/14/52 (p) |
USD | (25,500 | ) | $ | (25,144,893 | ) | ||||||
|
|
|||||||||||
Total TBA Sale Commitments — (3.9)% (Proceeds: $(24,956,602)) |
|
(25,144,893 | ) | |||||||||
|
|
|||||||||||
Total Investments, Net of TBA Sale Commitments — 166.0% |
|
|||||||||||
(Cost: $1,160,672,610) |
|
1,063,827,565 | ||||||||||
Liabilities in Excess of Other Assets — (66.0)% |
|
(423,142,943 | ) | |||||||||
|
|
|||||||||||
Net Assets — 100.0% |
|
$ | 640,684,622 | |||||||||
|
|
(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) |
Convertible security. |
(g) |
Zero-coupon bond. |
(h) |
Perpetual security with no stated maturity date. |
(i) |
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. |
(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) |
Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step- down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
(p) |
Represents or includes a TBA transaction. |
(q) |
Rates are discount rates or a range of discount rates as of period end. |
(r) |
Affiliate of the Trust. |
(s) |
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 |
39 |
Schedule of Investments (unaudited) (continued) June 30, 2022 |
BlackRock Core Bond Trust (BHK) |
Affiliated Issuer |
Value at 12/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 06/30/22 |
Shares Held at 06/30/22 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class |
$ | 25,976,159 | $ | — | $ | (7,829,342 | ) (a) |
$ | — | $ | — | $ | 18,146,817 | 18,146,817 | $ | 28,783 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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) | |||||||||||||||
|
||||||||||||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.50 | % (b) |
10/06/21 | Open | $ | 3,925,000 | $ | 3,931,665 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.50 | (b) |
10/06/21 | Open | 2,910,000 | 2,914,312 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.50 | (b) |
10/06/21 | Open | 777,562 | 778,883 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.50 | (b) |
10/06/21 | Open | 2,396,875 | 2,400,945 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Barclays Capital, Inc. |
(1.75 | ) (b) |
01/10/22 | Open | 182,823 | 181,303 | Corporate Bonds |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.79 | (b) |
02/14/22 | Open | 8,130,000 | 8,147,771 | Corporate Bonds |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.79 | (b) |
02/14/22 | Open | 9,265,747 | 9,286,001 | Corporate Bonds |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.78 | (b) |
02/22/22 | Open | 3,478,125 | 3,486,156 | Capital Trusts |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.78 | (b) |
02/22/22 | Open | 4,846,100 | 4,857,289 | Corporate Bonds |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.78 | (b) |
02/22/22 | Open | 4,067,212 | 4,076,603 | Corporate Bonds |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.78 | (b) |
02/22/22 | Open | 3,212,402 | 3,219,820 | Capital Trusts |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.95 | (b) |
02/22/22 | Open | 3,038,287 | 3,047,153 | Capital Trusts |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.50 | (b) |
03/14/22 | Open | 2,870,000 | 2,873,691 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.50 | (b) |
03/14/22 | Open | 24,687,500 | 24,719,251 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.50 | (b) |
03/14/22 | Open | 66,235,250 | 66,320,826 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.50 | (b) |
03/14/22 | Open | 14,740,000 | 14,759,023 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.60 | (b) |
03/14/22 | Open | 2,280,000 | 2,282,106 | U.S. Government Sponsored Agency Securities |
Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.79 | (b) |
03/14/22 | Open | 2,876,194 | 2,881,832 | Capital Trusts |
Open/Demand | ||||||||||||||||
HSBC Securities (USA), Inc. |
1.75 | (b) |
03/14/22 | Open | 1,752,500 | 1,755,725 | Corporate Bonds |
Open/Demand | ||||||||||||||||
HSBC Securities (USA), Inc. |
1.75 | (b) |
03/14/22 | Open | 1,411,000 | 1,413,597 | Corporate Bonds |
Open/Demand | ||||||||||||||||
HSBC Securities (USA), Inc. |
1.75 | (b) |
03/14/22 | Open | 1,069,500 | 1,071,468 | Corporate Bonds |
Open/Demand | ||||||||||||||||
RBC Capital Markets LLC |
1.88 | (b) |
03/14/22 | Open | 783,344 | 785,091 | Corporate Bonds |
Open/Demand | ||||||||||||||||
RBC Capital Markets LLC |
1.92 | (b) |
03/14/22 | Open | 3,912,750 | 3,921,946 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.69 | (b) |
03/17/22 | Open | 3,865,000 | 3,871,705 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.75 | (b) |
03/17/22 | Open | 4,870,250 | 4,879,551 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.75 | (b) |
03/17/22 | Open | 4,109,400 | 4,117,248 | Corporate Bonds |
Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
1.75 | (b) |
03/17/22 | Open | 1,752,500 | 1,755,847 | Corporate Bonds |
Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
1.75 | (b) |
03/17/22 | Open | 7,384,587 | 7,398,690 | Foreign Agency Obligations |
Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
1.75 | (b) |
03/17/22 | Open | 1,064,844 | 1,066,877 | Corporate Bonds |
Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
1.75 | (b) |
03/17/22 | Open | 4,359,375 | 4,367,700 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.25 | (b) |
04/12/22 | Open | 111,150 | 110,955 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Barclays Capital, Inc. |
(1.25 | ) (b) |
04/28/22 | Open | 93,620 | 93,412 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Credit Suisse Securities (USA) LLC |
(0.75 | ) (b) |
04/28/22 | Open | 108,341 | 108,055 | Corporate Bonds |
Open/Demand | ||||||||||||||||
HSBC Securities (USA), Inc. |
1.75 | (b) |
04/29/22 | Open | 3,580,000 | 3,584,748 | Corporate Bonds |
Open/Demand | ||||||||||||||||
HSBC Securities (USA), Inc. |
1.75 | (b) |
04/29/22 | Open | 8,628,812 | 8,640,258 | Corporate Bonds |
Open/Demand | ||||||||||||||||
HSBC Securities (USA), Inc. |
1.75 | (b) |
05/04/22 | Open | 2,404,025 | 2,407,047 | Capital Trusts |
Open/Demand | ||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
05/04/22 | Open | 2,760,312 | 2,763,782 | Corporate Bonds |
Open/Demand | ||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
05/04/22 | Open | 3,103,750 | 3,107,651 | Corporate Bonds |
Open/Demand |
40 |
2 0 2 2 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, 2022 |
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) | |||||||||||||||
|
||||||||||||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.75 | % (b) |
05/10/22 | Open | $ | 523,750 | $ | 524,517 | Corporate Bonds |
Open/Demand | ||||||||||||||
Credit Agricole Corporate and Investment Bank |
1.75 | (b) |
05/10/22 | Open | 875,875 | 877,158 | Corporate Bonds |
Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
1.74 | (b) |
05/10/22 | Open | 2,016,687 | 2,019,613 | Corporate Bonds |
Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
1.74 | (b) |
05/10/22 | Open | 1,840,406 | 1,843,076 | Corporate Bonds |
Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
1.74 | (b) |
05/10/22 | Open | 1,750,937 | 1,753,478 | Corporate Bonds |
Open/Demand | ||||||||||||||||
TD Securities (USA) LLC |
1.74 | (b) |
05/10/22 | Open | 3,076,781 | 3,081,245 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
1.56 | (b) |
05/23/22 | Open | 1,005,000 | 1,005,870 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
1.56 | (b) |
05/23/22 | Open | 2,424,000 | 2,426,098 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
1.56 | (b) |
05/23/22 | Open | 1,832,500 | 1,834,086 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
1.56 | (b) |
05/23/22 | Open | 3,037,500 | 3,040,129 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
1.56 | (b) |
05/23/22 | Open | 14,855,500 | 14,868,358 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
1.56 | (b) |
05/23/22 | Open | 11,831,625 | 11,841,866 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
1.56 | (b) |
05/23/22 | Open | 35,635,894 | 35,666,739 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Nomura Securities International, Inc. |
1.56 | (b) |
05/23/22 | Open | 17,911,875 | 17,927,379 | U.S. Treasury Obligations |
Open/Demand | ||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 501,510 | 501,838 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 274,298 | 274,477 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 929,474 | 930,082 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,035,612 | 1,036,290 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 884,372 | 884,952 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 820,368 | 820,905 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 386,940 | 387,194 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 776,652 | 777,161 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 818,267 | 818,803 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 657,628 | 658,058 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 603,403 | 603,798 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 520,932 | 521,273 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,079,464 | 1,080,171 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 715,356 | 715,825 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 646,320 | 646,743 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,262,244 | 1,263,070 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,637,753 | 1,638,826 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,969,394 | 1,970,683 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,303,628 | 1,304,481 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 831,858 | 832,403 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 470,683 | 470,991 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 693,237 | 693,691 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 320,625 | 320,835 | 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 |
41 |
Schedule of Investments (unaudited) (continued) June 30, 2022 |
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) | |||||||||||||||
|
||||||||||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | % | 06/10/22 | 07/14/22 | $ | 1,049,909 | $ | 1,050,597 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | ||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 662,781 | 663,215 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,138,956 | 1,139,702 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,008,149 | 1,008,809 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,226,486 | 1,227,289 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 536,222 | 536,574 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 510,357 | 510,692 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 700,036 | 700,494 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,910,991 | 1,912,242 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,061,554 | 1,062,250 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 687,176 | 687,626 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 1,299,595 | 1,300,446 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Cantor Fitzgerald & Company |
1.31 | 06/10/22 | 07/14/22 | 594,043 | 594,432 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 2,584,281 | 2,585,961 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 10,070,016 | 10,076,562 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 2,665,649 | 2,667,381 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 1,004,032 | 1,004,685 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 10,321,823 | 10,328,532 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 6,612,724 | 6,617,022 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 4,880,021 | 4,883,193 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 3,330,407 | 3,332,571 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 3,403,442 | 3,405,655 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 3,543,156 | 3,545,459 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 2,300,249 | 2,301,745 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 2,288,864 | 2,290,352 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 2,183,234 | 2,184,653 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 2,118,207 | 2,119,584 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 2,188,130 | 2,189,552 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 7,595,210 | 7,600,147 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
HSBC Securities (USA), Inc. |
1.30 | 06/10/22 | 07/14/22 | 6,686,029 | 6,690,375 | U.S. Government Sponsored Agency Securities |
Up to 30 Days | |||||||||||||||||
Barclays Capital, Inc. |
(1.00 | ) (b) |
06/14/22 | Open | 360,704 | 360,543 | Corporate Bonds |
Open/Demand | ||||||||||||||||
Barclays Capital, Inc. |
(3.00 | ) (b) |
06/17/22 | Open | 19,175 | 19,159 | Corporate Bonds |
Open/Demand |
42 |
2 0 2 2 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, 2022 |
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) | |||||||||||||||||||
|
||||||||||||||||||||||||||||
Credit Suisse Securities (USA) LLC |
(0.50 | )% (b) |
06/22/22 | Open | $ | 80,313 | $ | 80,304 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
(5.00 | ) (b) |
06/24/22 | Open | 53,240 | 53,188 | Corporate Bonds | Open/Demand | ||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||||
$ | 421,477,646 | $ | 421,979,136 | |||||||||||||||||||||||||
|
|
|
|
(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 |
510 | 09/21/22 | $ | 64,802 | $ | (1,194,485 | ) | |||||||||
Ultra U.S. Treasury Bond |
202 | 09/21/22 | 31,177 | (321,567 | ) | |||||||||||
|
|
|||||||||||||||
(1,516,052 | ) | |||||||||||||||
|
|
|||||||||||||||
Short Contracts |
||||||||||||||||
10-Year Japanese Government Treasury Bonds |
8 | 09/12/22 | 8,762 | (8,569 | ) | |||||||||||
10-Year U.S. Treasury Note |
861 | 09/21/22 | 101,907 | (498,627 | ) | |||||||||||
U.S. Long Bond |
86 | 09/21/22 | 11,876 | 253,119 | ||||||||||||
2-Year U.S. Treasury Note |
98 | 09/30/22 | 20,565 | 83,174 | ||||||||||||
5-Year U.S. Treasury Note |
418 | 09/30/22 | 46,868 | (668,942 | ) | |||||||||||
|
|
|||||||||||||||
(839,845 | ) | |||||||||||||||
|
|
|||||||||||||||
$ | (2,355,897 | ) | ||||||||||||||
|
|
Currency Purchased |
Currency Sold |
Counterparty |
Settlement Date |
Unrealized Appreciation (Depreciation) |
||||||||||||||||||||||
USD |
129,803 | CAD | 166,000 | JPMorgan Chase Bank N.A. | 09/21/22 | $ | 822 | |||||||||||||||||||
USD |
4,612,856 | EUR | 4,296,000 | Natwest Markets PLC | 09/21/22 | 85,808 | ||||||||||||||||||||
USD |
3,534,696 | GBP | 2,848,000 | HSBC Bank USA N.A. | 09/21/22 | 62,638 | ||||||||||||||||||||
USD |
1,371,984 | GBP | 1,094,000 | Natwest Markets PLC | 09/21/22 | 38,265 | ||||||||||||||||||||
|
|
|||||||||||||||||||||||||
187,533 | ||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||
EUR |
259,164 | USD | 274,485 | Morgan Stanley & Co. International PLC | 09/21/22 | (1,383 | ) | |||||||||||||||||||
GBP |
39,726 | USD | 48,595 | Standard Chartered Bank | 09/21/22 | (164 | ) | |||||||||||||||||||
USD |
2,103 | EUR | 2,000 | State Street Bank and Trust Co. | 09/21/22 | (4 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||||||||
(1,551 | ) | |||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||
$ | 185,982 | |||||||||||||||||||||||||
|
|
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.38.V2 |
5.00 | % | Quarterly | 06/20/27 | USD | 4,836 | $ | 134,860 | $ | (152,992 | ) | $ | 287,852 | |||||||||||||||
CDX.NA.IG.38.V1 |
1.00 | Quarterly | 06/20/27 | USD | 21,660 | 249 | (192,636 | ) | 192,885 | |||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||
$ | 135,109 | $ | (345,628 | ) | $ | 480,737 | ||||||||||||||||||||||
|
|
|
|
|
|
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, 2022 |
BlackRock Core Bond Trust (BHK) |
Upfront Premium Paid (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||||||||||||||||
Paid by the Trust | Received by the Trust | Effective Date |
Termination Date |
Notional Amount (000) |
Value |
|||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||
Rate |
Frequency |
Rate |
Frequency | |||||||||||||||||||||||||||||
1-Day SOFR, 0.82% |
Annual | 3.01% | Annual | 10/05/22 | (a) |
06/30/24 | USD | 14,905 | $ | (31,070 | ) | $ | 64 | $ | (31,134 | ) | ||||||||||||||||
|
2.86% |
Annual | 1-Day SOFR, 0.82% |
Annual | 10/05/22 | (a) |
11/30/26 | USD | 14,905 | (21,474 | ) | 136 | (21,610 | ) | ||||||||||||||||||
3-Month LIBOR, 2.29% |
Quarterly | 1.59% | Semi-Annual |
N/A | 10/14/31 | USD | 26,700 | (3,166,547 | ) | (1,167,130 | ) | (1,999,417 | ) | |||||||||||||||||||
1.61% |
Semi-Annual |
3-Month LIBOR, 2.29% |
Quarterly | N/A | 03/30/32 | USD | 26,000 | 3,134,114 | 1,193,244 | 1,940,870 | ||||||||||||||||||||||
1.66% |
Semi-Annual | 3-Month LIBOR, 2.29% |
Quarterly | N/A | 04/26/32 | USD | 25,400 | 3,047,567 | 1,096,166 | 1,951,401 | ||||||||||||||||||||||
1.86% |
Semi-Annual | 3-Month LIBOR, 2.29% |
Quarterly | N/A | 10/15/41 | USD | 14,800 | 2,775,140 | 833,343 | 1,941,797 | ||||||||||||||||||||||
3-Month LIBOR, 2.29% |
Quarterly | 1.93% | Semi-Annual | N/A | 10/23/51 | USD | 3,550 | (711,966 | ) | (156,824 | ) | (555,142 | ) | |||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 5,025,764 | $ | 1,798,999 | $ | 3,226,765 | |||||||||||||||||||||||||||
|
|
|
|
|
|
(a) |
Forward Swap. |
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. | 06/20/23 | B | EUR | 10 | $ | (1,501 | ) | $ | (867 | ) | $ | (634 | ) | |||||||||||||||||||
Novafives S.A.S |
5.00 | Quarterly | Citibank N.A. | 06/20/23 | B- | EUR | 10 | (1,161 | ) | (668 | ) | (493 | ) | |||||||||||||||||||||||
|
Faurecia SE |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/25 | BB | EUR | 10 | 100 | 461 | (361 | ) | ||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Morgan Stanley & Co. International PLC | 12/20/25 | CCC | EUR | 10 | (3,225 | ) | 1,223 | (4,448 | ) | ||||||||||||||||||||||||
Virgin Media Finance PLC |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/25 | B | EUR | 10 | 257 | 948 | (691 | ) | |||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/26 | NR | EUR | 10 | (3,280 | ) | 836 | (4,116 | ) | ||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/26 | NR | EUR | 10 | (3,280 | ) | 939 | (4,219 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/26 | BB+ | EUR | 10 | (295 | ) | 397 | (692 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Bank of America N.A. | 12/20/26 | B+ | EUR | 10 | (1,625 | ) | (391 | ) | (1,234 | ) | |||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Barclays Bank PLC | 12/20/26 | B+ | EUR | 5 | (825 | ) | 199 | (1,024 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Credit Suisse International | 12/20/26 | B+ | EUR | 5 | (802 | ) | 204 | (1,006 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Credit Suisse International | 12/20/26 | B+ | EUR | 25 | (4,064 | ) | 961 | (5,025 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Morgan Stanley & Co. International PLC | 12/20/26 | B+ | EUR | 25 | (4,064 | ) | 1,139 | (5,203 | ) | ||||||||||||||||||||||||
K&S AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/26 | BB | EUR | 10 | 825 | 805 | 20 | ||||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Barclays Bank PLC | 06/20/27 | BB+ | EUR | 2 | (70 | ) | 50 | (120 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Credit Suisse International | 06/20/27 | BB+ | EUR | 40 | (1,736 | ) | 1,826 | (3,562 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Credit Suisse International | 06/20/27 | BB+ | EUR | 9 | (383 | ) | 297 | (680 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB+ | EUR | 9 | (385 | ) | 323 | (708 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB+ | EUR | 8 | (362 | ) | 304 | (666 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB+ | EUR | 2 | (102 | ) | 86 | (188 | ) | ||||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB | EUR | 30 | (5,009 | ) | (5,308 | ) | 299 | ||||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB | EUR | 10 | (1,670 | ) | (1,109 | ) | (561 | ) | |||||||||||||||||||||||
CMBX.NA.8 |
3.00 | Monthly | Barclays Bank PLC | 10/17/57 | N/R | USD | 5,000 | (861,017 | ) | (483,158 | ) | (377,859 | ) | |||||||||||||||||||||||
CMBX.NA.8 |
3.00 | Monthly | Credit Suisse International | 10/17/57 | N/R | USD | 2,500 | (430,508 | ) | (239,040 | ) | (191,468 | ) | |||||||||||||||||||||||
CMBX.NA.8 |
3.00 | Monthly | Morgan Stanley & Co. International PLC | 10/17/57 | N/R | USD | 5,550 | (955,729 | ) | (702,621 | ) | (253,108 | ) | |||||||||||||||||||||||
CMBX.NA.9 |
3.00 | Monthly | Credit Suisse International | 09/17/58 | N/R | USD | 5,000 | (854,607 | ) | (518,760 | ) | (335,847 | ) | |||||||||||||||||||||||
CMBX.NA.9 |
3.00 | Monthly | Credit Suisse International | 09/17/58 | N/R | USD | 2,500 | (427,304 | ) | (259,381 | ) | (167,923 | ) | |||||||||||||||||||||||
CMBX.NA.9 |
3.00 | Monthly | Credit Suisse International | 09/17/58 | N/R | USD | 5,000 | (854,607 | ) | (518,711 | ) | (335,896 | ) | |||||||||||||||||||||||
Morgan Stanley & Co. | ||||||||||||||||||||||||||||||||||||
CMBX.NA.9 |
3.00 | Monthly | International PLC | 09/17/58 | N/R | USD | 2,153 | (367,993 | ) | (233,803 | ) | (134,190 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
$ | (4,784,422 | ) | $ | (2,952,819 | ) | $ | (1,831,603 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
(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. |
44 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) |
Description |
Swap Premiums Paid |
Swap Premiums Received |
Unrealized Appreciation |
Unrealized Depreciation |
||||||||||||
Centrally Cleared Swaps (a) |
$ | 3,122,953 | $ | (1,669,582 | ) | $ | 6,314,805 | $ | (2,607,303 | ) | ||||||
OTC Swaps |
10,998 | (2,963,817 | ) | 319 | (1,831,922 | ) |
(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) |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
336,293 |
$ |
— |
$ |
336,293 |
||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on forward foreign currency exchange contracts |
— |
— |
— |
187,533 |
— |
— |
187,533 |
|||||||||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized appreciation on centrally cleared swaps (a) |
— |
480,737 |
— |
— |
5,834,068 |
— |
6,314,805 |
|||||||||||||||||||||
Swaps — OTC |
||||||||||||||||||||||||||||
Unrealized appreciation on OTC swaps; Swap premiums paid |
— |
11,317 |
— |
— |
— |
— |
11,317 |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ |
— |
$ |
492,054 |
$ |
— |
$ |
187,533 |
$ |
6,170,361 |
$ |
— |
$ |
6,849,948 |
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on futures contracts (a) |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
2,692,190 |
$ |
— |
$ |
2,692,190 |
||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on forward foreign currency exchange contracts |
— |
— |
— |
1,551 |
— |
— |
1,551 |
|||||||||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized depreciation on centrally cleared swaps (a) |
— |
— |
— |
— |
2,607,303 |
— |
2,607,303 |
|||||||||||||||||||||
Swaps — OTC |
||||||||||||||||||||||||||||
Unrealized depreciation on OTC swaps; Swap premiums received |
— |
4,795,739 |
— |
— |
— |
— |
4,795,739 |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ |
— |
$ |
4,795,739 |
$ |
— |
$ |
1,551 |
$ |
5,299,493 |
$ |
— |
$ |
10,096,783 |
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
(5,093,903 |
) |
$ |
— |
$ |
(5,093,903 |
) | ||||||||||||
Forward foreign currency exchange contracts |
— |
— |
— |
561,113 |
— |
— |
561,113 |
|||||||||||||||||||||
Options purchased (a) |
— |
— |
— |
— |
1,415,046 |
— |
1,415,046 |
|||||||||||||||||||||
Options written |
— |
— |
— |
— |
(4,116,630 |
) |
— |
(4,116,630 |
) | |||||||||||||||||||
Swaps |
— |
1,053,924 |
— |
— |
4,392,609 |
— |
5,446,533 |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ |
— |
$ |
1,053,924 |
$ |
— |
$ |
561,113 |
$ |
(3,402,878 |
) |
$ |
— |
$ |
(1,787,841 |
) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||||||||||||||||||||||||||
Futures contracts |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
(3,573,400 |
) |
$ |
— |
$ |
(3,573,400 |
) | ||||||||||||
Forward foreign currency exchange contracts |
— |
— |
— |
338,746 |
— |
— |
338,746 |
|||||||||||||||||||||
Options purchased (b) |
— |
— |
— |
— |
688,971 |
— |
688,971 |
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, 2022 |
BlackRock Core Bond Trust (BHK) |
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total |
||||||||||||||||||||||
Options written |
$ | — | $ | — | $ | — | $ | — | $ | (88,306 | ) | $ | — | $ | (88,306 | ) | ||||||||||||
Swaps |
— | (1,005,449 | ) | — | — | 2,061,194 | — | 1,055,745 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | (1,005,449 | ) | $ | — | $ | 338,746 | $ | (911,541 | ) | $ | — | $ | (1,578,244 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
$ | 98,401,751 | ||
Average notional value of contracts — short |
$ | 185,025,796 | ||
Forward foreign currency exchange contracts: |
||||
Average amounts purchased — in USD |
$ | 10,855,734 | ||
Average amounts sold — in USD |
$ | 527,856 | ||
Options: |
||||
Average value of option contracts purchased |
$ | 6,313 | ||
Average value of option contracts written |
$ | 1,008 | ||
Average notional value of swaption contracts purchased |
$ | 38,171,250 | ||
Average notional value of swaption contracts written |
$ | 190,790,000 | ||
Credit default swaps: |
||||
Average notional value — buy protection |
$ | 27,808,075 | ||
Average notional value — sell protection |
$ | 27,916,390 | ||
Interest rate swaps: |
||||
Average notional value — pays fixed rate |
$ | 322,728,000 | ||
Average notional value — receives fixed rate |
$ | 260,598,750 |
Assets |
Liabilities |
|||||||
Derivative Financial Instruments |
||||||||
Futures contracts |
$ | 992,585 | $ | 1,082,239 | ||||
Forward foreign currency exchange contracts |
187,533 | 1,551 | ||||||
Swaps — centrally cleared |
— | 824,758 | ||||||
Swaps — OTC (a) |
11,317 | 4,795,739 | ||||||
|
|
|
|
|||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities |
1,191,435 | 6,704,287 | ||||||
|
|
|
|
|||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) |
(992,585 | ) | (1,906,997 | ) | ||||
|
|
|
|
|||||
Total derivative assets and liabilities subject to an MNA |
$ | 198,850 | $ | 4,797,290 | ||||
|
|
|
|
(a) |
Includes unrealized appreciation (depreciation) on OTC swaps and swap premiums (paid/received) in the Statements of Assets and Liabilities. |
46 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) |
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) | |||||||||||||
Barclays Bank PLC |
$ | 249 | $ | (249 | ) | $ | — | $ | — | $ | — | |||||||||
Credit Suisse International |
3,288 | (3,288 | ) | — | — | — | ||||||||||||||
HSBC Bank USA N.A. |
62,638 | — | — | — | 62,638 | |||||||||||||||
JPMorgan Chase Bank N.A. |
6,240 | (6,240 | ) | — | — | — | ||||||||||||||
Morgan Stanley & Co. International PLC |
2,362 | (2,362 | ) | — | — | — | ||||||||||||||
Natwest Markets PLC |
124,073 | — | — | — | 124,073 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 198,850 | $ | (12,139 | ) | $ | — | $ | — | $ | 186,711 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Counterparty |
Derivative Liabilities Subject to an MNA by Counterparty |
Derivatives Available for Offset |
(a) |
Non-Cash Collateral Pledged |
Cash Collateral Pledged |
Net Amount of Derivative Liabilities |
(b)(d) | |||||||||||||
Bank of America N.A. |
$ | 1,625 | $ | — | $ | — | $ | — | $ | 1,625 | ||||||||||
Barclays Bank PLC |
862,161 | (249 | ) | — | (655,000 | ) | 206,912 | |||||||||||||
Citibank N.A. |
1,161 | — | — | — | 1,161 | |||||||||||||||
Credit Suisse International |
2,577,299 | (3,288 | ) | — | (2,550,000 | ) | 24,011 | |||||||||||||
JPMorgan Chase Bank N.A. |
20,120 | (6,240 | ) | — | — | 13,880 | ||||||||||||||
Morgan Stanley & Co. International PLC |
1,334,756 | (2,362 | ) | — | (1,254,000 | ) | 78,394 | |||||||||||||
Standard Chartered Bank |
164 | — | — | — | 164 | |||||||||||||||
State Street Bank and Trust Co. |
4 | — | — | — | 4 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 4,797,290 | $ | (12,139 | ) | $ | — | $ | (4,459,000) | $ | 326,151 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(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) |
Net amount represents the net amount payable due to counterparty in the event of default. |
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Asset-Backed Securities |
$ | — | $ | 63,871,335 | $ | 1,238,732 | $ | 65,110,067 | ||||||||
Corporate Bonds |
||||||||||||||||
Advertising Agencies |
— | 487,214 | — | 487,214 | ||||||||||||
Aerospace & Defense |
— | 13,643,900 | — | 13,643,900 | ||||||||||||
Airlines |
— | 9,157,196 | — | 9,157,196 | ||||||||||||
Auto Components |
— | 3,622,314 | — | 3,622,314 | ||||||||||||
Automobiles |
— | 8,792,119 | — | 8,792,119 | ||||||||||||
Banks |
— | 9,795,826 | — | 9,795,826 | ||||||||||||
Beverages |
— | 7,475,941 | — | 7,475,941 | ||||||||||||
Biotechnology |
— | 1,553,473 | — | 1,553,473 | ||||||||||||
Building Materials |
— | 1,377,467 | — | 1,377,467 | ||||||||||||
Building Products |
— | 4,912,379 | — | 4,912,379 | ||||||||||||
Capital Markets |
— | 16,672,188 | — | 16,672,188 | ||||||||||||
Chemicals |
— | 5,696,937 | — | 5,696,937 | ||||||||||||
Commercial Services & Supplies |
— | 2,130,928 | — | 2,130,928 |
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, 2022 |
BlackRock Core Bond Trust (BHK) |
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Corporate Bonds (continued) |
||||||||||||||||
Communications Equipment |
$ | — | $ | 1,227,529 | $ | — | $ | 1,227,529 | ||||||||
Construction & Engineering |
— | 3,984,403 | — | 3,984,403 | ||||||||||||
Construction Materials |
— | 604,874 | — | 604,874 | ||||||||||||
Consumer Discretionary |
— | 4,118,409 | — | 4,118,409 | ||||||||||||
Consumer Finance |
— | 4,343,417 | — | 4,343,417 | ||||||||||||
Containers & Packaging |
— | 2,690,440 | — | 2,690,440 | ||||||||||||
Diversified Consumer Services |
— | 4,087,671 | — | 4,087,671 | ||||||||||||
Diversified Financial Services |
— | 30,860,983 | — | 30,860,983 | ||||||||||||
Diversified Telecommunication Services |
— | 20,232,765 | — | 20,232,765 | ||||||||||||
Education |
— | 655,170 | — | 655,170 | ||||||||||||
Electric Utilities |
— | 23,268,688 | — | 23,268,688 | ||||||||||||
Electrical Equipment |
— | 311,104 | — | 311,104 | ||||||||||||
Electronic Equipment, Instruments & Components |
— | 2,424,032 | — | 2,424,032 | ||||||||||||
Energy Equipment & Services |
— | 1,840,839 | — | 1,840,839 | ||||||||||||
Entertainment |
— | 281,915 | — | 281,915 | ||||||||||||
Environmental, Maintenance & Security Service |
— | 1,727,492 | — | 1,727,492 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) |
— | 9,944,946 | — | 9,944,946 | ||||||||||||
Food & Staples Retailing |
— | 3,021,747 | — | 3,021,747 | ||||||||||||
Food Products |
— | 1,792,736 | — | 1,792,736 | ||||||||||||
Gas Utilities |
— | 52,723 | — | 52,723 | ||||||||||||
Health Care Equipment & Supplies |
— | 1,751,092 | — | 1,751,092 | ||||||||||||
Health Care Providers & Services |
— | 13,226,828 | — | 13,226,828 | ||||||||||||
Health Care Technology |
— | 2,545,841 | — | 2,545,841 | ||||||||||||
Hotels, Restaurants & Leisure |
— | 10,877,306 | 3,427,098 | 14,304,404 | ||||||||||||
Household Durables |
— | 1,752,572 | — | 1,752,572 | ||||||||||||
Household Products |
— | 70,100 | — | 70,100 | ||||||||||||
Independent Power and Renewable Electricity Producers |
— | 3,060,940 | — | 3,060,940 | ||||||||||||
Insurance |
— | 22,633,634 | — | 22,633,634 | ||||||||||||
Interactive Media & Services |
— | 1,405,607 | — | 1,405,607 | ||||||||||||
Internet Software & Services |
— | 2,924,983 | — | 2,924,983 | ||||||||||||
IT Services |
— | 6,378,811 | — | 6,378,811 | ||||||||||||
Leisure Products |
— | 400,978 | — | 400,978 | ||||||||||||
Machinery |
— | 2,362,549 | — | 2,362,549 | ||||||||||||
Media |
— | 41,129,037 | — | 41,129,037 | ||||||||||||
Metals & Mining |
— | 6,927,556 | — | 6,927,556 | ||||||||||||
Multiline Retail |
— | 385,996 | — | 385,996 | ||||||||||||
Multi-Utilities |
— | 1,014,174 | — | 1,014,174 | ||||||||||||
Offshore Drilling & Other Services |
— | 569,345 | — | 569,345 | ||||||||||||
Oil, Gas & Consumable Fuels |
71,367 | 49,273,830 | 1,467,997 | 50,813,194 | ||||||||||||
Pharmaceuticals |
— | 14,513,069 | — | 14,513,069 | ||||||||||||
Real Estate Management & Development |
— | 2,905,527 | 32,000 | 2,937,527 | ||||||||||||
Road & Rail |
— | 7,191,841 | — | 7,191,841 | ||||||||||||
Semiconductors & Semiconductor Equipment |
— | 5,725,624 | — | 5,725,624 | ||||||||||||
Software |
— | 10,851,011 | — | 10,851,011 | ||||||||||||
Specialty Retail |
— | 1,095,406 | — | 1,095,406 | ||||||||||||
Technology Hardware, Storage & Peripherals |
— | 2,905,952 | — | 2,905,952 | ||||||||||||
Textiles, Apparel & Luxury Goods |
— | 224,294 | — | 224,294 | ||||||||||||
Thrifts & Mortgage Finance |
— | 378,543 | — | 378,543 | ||||||||||||
Tobacco |
— | 5,451,783 | — | 5,451,783 | ||||||||||||
Transportation |
— | 85,412 | — | 85,412 | ||||||||||||
Transportation Infrastructure |
— | 2,268,365 | 691,089 | 2,959,454 | ||||||||||||
Utilities |
— | 8,209,075 | — | 8,209,075 | ||||||||||||
Wireless Telecommunication Services |
— | 7,840,648 | — | 7,840,648 | ||||||||||||
Floating Rate Loan Interests |
— | 22,021,335 | 1,728,849 | 23,750,184 | ||||||||||||
Foreign Agency Obligations |
— | 17,052,575 | — | 17,052,575 | ||||||||||||
Municipal Bonds |
— | 22,500,927 | — | 22,500,927 | ||||||||||||
Non-Agency Mortgage-Backed Securities |
— | 62,408,412 | — | 62,408,412 | ||||||||||||
Preferred Securities |
||||||||||||||||
Capital Trusts |
— | 41,579,871 | — | 41,579,871 | ||||||||||||
Preferred Stocks |
||||||||||||||||
Capital Markets |
3,894,682 | — | — | 3,894,682 | ||||||||||||
Thrifts & Mortgage Finance |
— | 34,800 | — | 34,800 | ||||||||||||
Trust Preferred |
792,824 | — | — | 792,824 |
48 |
2 0 2 2 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, 2022 |
BlackRock Core Bond Trust (BHK) |
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
U.S. Government Sponsored Agency Securities |
$ | — | $ | 197,464,878 | $ | — | $ | 197,464,878 | ||||||||
U.S. Treasury Obligations |
— | 189,419,376 | — | 189,419,376 | ||||||||||||
Short-Term Securities |
||||||||||||||||
Money Market Funds |
18,146,817 | — | — | 18,146,817 | ||||||||||||
Liabilities |
||||||||||||||||
Investments |
||||||||||||||||
TBA Sale Commitments |
— | (25,144,893 | ) | — | (25,144,893 | ) | ||||||||||
Unfunded Floating Rate Loan Interests (a) |
— | (17,250 | ) | — | (17,250 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 22,905,690 | $ | 1,032,318,860 | $ | 8,585,765 | $ | 1,063,810,315 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative Financial Instruments (b) |
||||||||||||||||
Assets |
||||||||||||||||
Credit Contracts |
$ | — | $ | 481,056 | $ | — | $ | 481,056 | ||||||||
Foreign Currency Exchange Contracts |
— | 187,533 | — | 187,533 | ||||||||||||
Interest Rate Contracts |
336,293 | 5,834,068 | — | 6,170,361 | ||||||||||||
Liabilities |
||||||||||||||||
Credit Contracts |
— | (1,831,922 | ) | — | (1,831,922 | ) | ||||||||||
Foreign Currency Exchange Contracts |
— | (1,551 | ) | — | (1,551 | ) | ||||||||||
Interest Rate Contracts |
(2,692,190 | ) | (2,607,303 | ) | — | (5,299,493 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | (2,355,897 | ) | $ | 2,061,881 | $ | — | $ | (294,016 | ) | |||||||
|
|
|
|
|
|
|
|
(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 |
Total |
|||||||||||||||||
|
||||||||||||||||||||
Assets |
||||||||||||||||||||
Opening balance, as of December 31, 2021 |
$ | 2,843,303 | $ | 6,314,241 | $ | 580,932 | $ | 9,738,476 | ||||||||||||
Transfers into Level 3 |
— | 35,938 | 1,194,425 | 1,230,363 | ||||||||||||||||
Transfers out of Level 3 |
(1,539,188 | ) | — | (4,762 | ) | (1,543,950 | ) | |||||||||||||
Accrued discounts/premiums |
(42,355 | ) | — | 2,848 | (39,507 | ) | ||||||||||||||
Net realized gain (loss) |
402 | — | 5,819 | 6,221 | ||||||||||||||||
Net change in unrealized appreciation (depreciation) (a)(b) |
6,229 | (680,141 | ) | (167,434 | ) | (841,346 | ) | |||||||||||||
Purchases |
— | — | 448,795 | 448,795 | ||||||||||||||||
Sales |
(29,659 | ) | (51,854 | ) | (331,774 | ) | (413,287 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Closing balance, as of June 30, 2022 |
$ | 1,238,732 | $ | 5,618,184 | $ | 1,728,849 | $ | 8,585,765 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (b) |
$ | 6,229 | $ | (680,141 | ) | $ | (156,791 | ) | $ | (830,703 | ) | |||||||||
|
|
|
|
|
|
|
|
(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, 2022 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 |
Schedule of Investments (unaudited) (continued) June 30, 2022 |
BlackRock Core Bond Trust (BHK) |
|
||||||||||||||||||||||||||||||||
Value |
Valuation Approach |
Unobservable Inputs |
Range of Unobservable Inputs Utilized |
(a) |
Weighted Average of Unobservable Inputs Based on Fair Value |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
Assets |
||||||||||||||||||||||||||||||||
Asset Backed Securities |
$ | 1,222,052 | Income | Discount Rate | 8 | % | — | |||||||||||||||||||||||||
Corporate Bonds |
5,586,184 | Income | Credit Spread | 123 - 698 | 557 | |||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||
$ | 6,808,236 | |||||||||||||||||||||||||||||||
|
|
(a) |
A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value. |
50 |
2 0 2 2 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) June 30, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Asset-Backed Securities |
| |||||||||
AlbaCore EURO CLO I DAC, Series 1X, Class ER, (3 mo. EURIBOR + 5.96%), 5.96%, 10/18/34 (a)(b) |
EUR | 100 | $ | 85,012 | ||||||
Anchorage Capital Europe CLO 2 DAC, Series 2X, Class ER, (3 mo. EURIBOR + 6.45%), 6.45%, 04/15/34 (a)(b) |
203 | 177,154 | ||||||||
Ares XXXIIR CLO Ltd., Series 2014-32RA, Class B, (3 mo. LIBOR US + 1.80%), 3.21%, 05/15/30 (b)(c) |
USD | 500 | 469,720 | |||||||
Aurium CLO II DAC, Series 2X, Class ERR, (3 mo. EURIBOR + 6.08%), 6.08%, 06/22/34 (a)(b) |
EUR | 100 | 85,623 | |||||||
BBAM European CLO I DAC, Series 1X, Class ER, (3 mo. EURIBOR + 5.91%), 5.91%, 07/22/34 (a)(b) |
100 | 85,886 | ||||||||
Bilbao CLO II DAC, Series 2X, Class DR, (3 mo. EURIBOR + 5.97%), 5.97%, 08/20/35 (a)(b) |
100 | 84,038 | ||||||||
BlueMountain Fuji Eur CLO IV DAC, Series 4X, Class ER, (3 mo. EURIBOR + 6.21%), 6.21%, 02/25/34 (a)(b) |
100 | 86,652 | ||||||||
Contego CLO IX DAC, Series 9X, Class E, (3 mo. EURIBOR + 6.01%), 6.01%, 01/24/34 (a)(b) |
100 | 86,005 | ||||||||
Contego CLO VIII DAC, Series 8X, Class ER, (3 mo. EURIBOR + 6.06%), 6.06%, 01/25/34 (a)(b) |
100 | 86,959 | ||||||||
CVC Cordatus Loan Fund XX DAC, Series 20X, Class E, (3 mo. EURIBOR + 5.61%), 5.61%, 06/22/34 (a)(b) |
100 | 83,511 | ||||||||
Galaxy XVIII CLO Ltd., Series 2018-28A, Class C, (3 mo. LIBOR US + 1.95%), 2.99%, 07/15/31 (b)(c) |
USD | 250 | 235,018 | |||||||
Greene King Finance PLC (b) |
||||||||||
Series B1, (3 mo. LIBOR GBP + 1.92%), 2.86%, 12/15/34 |
GBP | 100 | 99,673 | |||||||
Series B2, (3 mo. LIBOR GBP + 2.20%), 3.29%, 03/15/36 (a) |
100 | 98,601 | ||||||||
Invesco Euro CLO, Series 6X, Class E, (3 mo. EURIBOR + 5.99%), 5.99%, 07/15/34 (a)(b) |
EUR | 100 | 86,599 | |||||||
Neuberger Berman Loan Advisers Euro CLO 2 DAC, Series 2021-2X, Class E, (3 mo. EURIBOR + 6.06%), 6.06%, 04/15/34 (a)(b) |
100 | 86,207 | ||||||||
Northwoods Capital 21 Euro DAC, Series 2020- 21X, Class ER, (3 mo. EURIBOR + 6.06%), 6.06%, 07/22/34 (a)(b) |
100 | 85,681 | ||||||||
Northwoods Capital 23 Euro DAC, Series 2021- 23X, Class E, (3 mo. EURIBOR + 6.21%), 6.21%, 03/15/34 (a)(b) |
100 | 84,981 | ||||||||
OCP Euro CLO DAC, Series 2019-3X, Class ER, (3 mo. EURIBOR + 6.02%), 6.02%, 04/20/33 (a)(b) |
100 | 86,872 | ||||||||
Providus CLO III DAC, Series 3X, Class ER, (3 mo. EURIBOR + 6.26%), 6.26%, 07/18/34 (a)(b) |
100 | 87,112 | ||||||||
Rockfield Park CLO DAC, Class D, (3 mo. EURIBOR + 5.95%), 5.95%, 07/16/34 (a)(b) |
100 | 86,467 |
Security |
Par (000) |
Value |
||||||||||
Asset-Backed Securities (continued) |
| |||||||||||
Unique Pub Finance Co. PLC, Series N, 6.46%, 03/30/32 (a) |
GBP | 300 | $ | 418,190 | ||||||||
Voya Euro CLO II DAC, Class ER, (3 mo. EURIBOR + 6.02%), 6.02%, 07/15/35 (a)(b) |
EUR | 100 | 85,806 | |||||||||
|
|
|||||||||||
Total Asset-Backed Securities — 0.3% (Cost: $3,526,878) |
|
2,871,767 | ||||||||||
|
|
|||||||||||
Shares |
||||||||||||
Common Stocks |
||||||||||||
Building Products — 0.0% |
||||||||||||
AZEK Co., Inc. (d) |
1,120 | 18,749 | ||||||||||
|
|
|||||||||||
Chemicals — 0.2% |
||||||||||||
Diversey Holdings Ltd. (d) |
180,731 | 1,192,825 | ||||||||||
Element Solutions, Inc. |
82,998 | 1,477,364 | ||||||||||
|
|
|||||||||||
2,670,189 | ||||||||||||
Communications Equipment — 0.0% |
||||||||||||
CommScope Holding Co., Inc. (d) |
47,956 | 293,491 | ||||||||||
|
|
|||||||||||
Consumer Finance — 0.0% |
||||||||||||
Ally Financial, Inc. |
1 | (e) |
33 | |||||||||
|
|
|||||||||||
Containers & Packaging — 0.1% |
||||||||||||
Ardagh Metal Packaging S.A., (Acquired 08/02/21, Cost: $1,599,352) (f) |
162,646 | 992,141 | ||||||||||
|
|
|||||||||||
Diversified Financial Services (g) — 0.0% |
||||||||||||
Kcad Holdings I Ltd. |
2,223,465,984 | 22,235 | ||||||||||
UCI International LLC (d) |
109,729 | 1 | ||||||||||
|
|
|||||||||||
22,236 | ||||||||||||
Diversified Telecommunication Services — 0.0% |
||||||||||||
Liberty Global PLC, Class A (d) |
1,859 | 39,132 | ||||||||||
|
|
|||||||||||
Electrical Equipment — 0.1% |
||||||||||||
Sensata Technologies Holding PLC |
|
22,226 | 918,156 | |||||||||
|
|
|||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.1% |
||||||||||||
Gaming & Leisure Properties, Inc. |
|
15,227 | 698,310 | |||||||||
|
|
|||||||||||
IT Services (d) — 0.0% |
||||||||||||
Block, Inc. |
4,614 | 283,576 | ||||||||||
Twilio, Inc., Class A |
2,522 | 211,369 | ||||||||||
|
|
|||||||||||
494,945 | ||||||||||||
Life Sciences Tools & Services (d) — 0.3% |
||||||||||||
Avantor, Inc. |
42,131 | 1,272,673 | ||||||||||
Syneos Health, Inc. |
25,747 | 1,845,545 | ||||||||||
|
|
|||||||||||
3,118,218 | ||||||||||||
Media — 0.0% |
||||||||||||
Clear Channel Outdoor Holdings, Inc. (d) |
|
482,919 | 516,723 | |||||||||
|
|
|||||||||||
Metals & Mining — 0.2% |
||||||||||||
Constellium SE (d) |
138,993 | 1,836,098 | ||||||||||
|
|
|||||||||||
Oil, Gas & Consumable Fuels — 0.7% |
||||||||||||
Cheniere Energy, Inc. |
10,284 | 1,368,081 | ||||||||||
Chesapeake Energy Corp. (h) |
36,373 | 2,949,850 | ||||||||||
Energy Transfer LP |
299,594 | 2,989,948 | ||||||||||
Targa Resources Corp. |
18,383 | 1,096,914 | ||||||||||
Western Midstream Partners LP |
8,811 | 214,195 | ||||||||||
|
|
|||||||||||
8,618,988 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Shares |
Value |
||||||||||
Road & Rail — 0.1% |
||||||||||||
Uber Technologies, Inc. (d) |
46,373 | $ | 948,792 | |||||||||
|
|
|||||||||||
Semiconductors & Semiconductor Equipment (d) — 0.0% |
||||||||||||
Maxeon Solar Technologies Ltd. |
128 | 1,701 | ||||||||||
SunPower Corp. |
1,025 | 16,205 | ||||||||||
|
|
|||||||||||
17,906 | ||||||||||||
Software — 0.2% |
||||||||||||
Informatica, Inc., Class A (d) |
84,308 | 1,751,077 | ||||||||||
|
|
|||||||||||
Total Common Stocks — 2.0% (Cost: $49,107,717) |
22,955,184 | |||||||||||
|
|
|||||||||||
Par (000) |
||||||||||||
Corporate Bonds |
||||||||||||
Aerospace & Defense — 4.6% |
||||||||||||
Amsted Industries, Inc., 5.63%, 07/01/27 (c) |
USD | 890 | 836,600 | |||||||||
Bombardier, Inc. (c) |
||||||||||||
7.50%, 03/15/25 |
385 | 347,944 | ||||||||||
7.13%, 06/15/26 |
3,386 | 2,791,689 | ||||||||||
7.88%, 04/15/27 |
4,116 | 3,426,200 | ||||||||||
6.00%, 02/15/28 |
2,483 | 1,860,760 | ||||||||||
7.45%, 05/01/34 |
234 | 175,488 | ||||||||||
EnPro Industries, Inc., 5.75%, 10/15/26 |
2,192 | 2,115,280 | ||||||||||
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26 (c) |
2,295 | 1,827,922 | ||||||||||
Howmet Aerospace, Inc., 5.13%, 10/01/24 |
44 | 43,615 | ||||||||||
Rolls-Royce PLC, 5.75%, 10/15/27 (c) |
4,093 | 3,689,021 | ||||||||||
Spirit AeroSystems, Inc. (c) |
||||||||||||
5.50%, 01/15/25 |
866 | 801,050 | ||||||||||
7.50%, 04/15/25 |
126 | 117,022 | ||||||||||
TransDigm, Inc. |
||||||||||||
8.00%, 12/15/25 (c) |
1,221 | 1,234,724 | ||||||||||
6.25%, 03/15/26 (c) |
28,132 | 27,112,215 | ||||||||||
6.38%, 06/15/26 |
328 | 306,680 | ||||||||||
7.50%, 03/15/27 |
445 | 419,817 | ||||||||||
4.63%, 01/15/29 |
2,156 | 1,735,623 | ||||||||||
4.88%, 05/01/29 |
1,665 | 1,355,377 | ||||||||||
Triumph Group, Inc., 8.88%, 06/01/24 (c) |
3,523 | 3,548,965 | ||||||||||
|
|
|||||||||||
53,745,992 | ||||||||||||
Airlines — 2.7% |
||||||||||||
Air Canada, 3.88%, 08/15/26 (c) |
1,881 | 1,591,119 | ||||||||||
Air France-KLM, 3.88%, 07/01/26 (a) |
EUR | 200 | 169,768 | |||||||||
American Airlines, Inc., 11.75%, 07/15/25 (c) |
USD | 4,476 | 4,632,212 | |||||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd. (c) |
||||||||||||
5.50%, 04/20/26 |
2,908 | 2,671,574 | ||||||||||
5.75%, 04/20/29 |
4,767 | 4,070,040 | ||||||||||
Delta Air Lines, Inc., 7.00%, 05/01/25 (c) |
751 | 760,154 | ||||||||||
Delta Air Lines, Inc./SkyMiles IP Ltd., 4.75%, 10/20/28 (c) |
1,897 | 1,791,780 | ||||||||||
Deutsche Lufthansa AG (a) |
||||||||||||
2.88%, 02/11/25 |
EUR | 100 | 93,284 | |||||||||
2.88%, 05/16/27 |
100 | 82,693 | ||||||||||
3.75%, 02/11/28 |
200 | 168,196 | ||||||||||
3.50%, 07/14/29 |
300 | 235,919 | ||||||||||
Finnair OYJ, 4.25%, 05/19/25 (a) |
200 | 172,329 |
Security |
Par (000) |
Value |
||||||||
Airlines (continued) |
||||||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (c) |
USD | 1,377 | $ | 1,234,067 | ||||||
International Consolidated Airlines Group SA (a) |
||||||||||
2.75%, 03/25/25 |
EUR | 200 | 177,235 | |||||||
3.75%, 03/25/29 |
100 | 73,985 | ||||||||
Series IAG, 1.13%, 05/18/28 |
200 | 140,807 | ||||||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27 (c) |
USD | 4,424 | 4,347,416 | |||||||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25 (c) |
216 | 221,656 | ||||||||
United Airlines Pass-Through Trust |
||||||||||
Series 2020-1, Class A, 5.88%, 04/15/29 |
2,853 | 2,803,052 | ||||||||
Series 2020-1, Class B, 4.88%, 07/15/27 |
232 | 220,689 | ||||||||
United Airlines, Inc. (c) |
||||||||||
4.38%, 04/15/26 |
2,515 | 2,216,143 | ||||||||
4.63%, 04/15/29 |
3,374 | 2,862,063 | ||||||||
|
|
|||||||||
30,736,181 | ||||||||||
Auto Components — 2.2% |
||||||||||
Adient U.S. LLC, 9.00%, 04/15/25 (c) |
1,088 | 1,131,520 | ||||||||
Clarios Global LP, 6.75%, 05/15/25 (c) |
1,189 | 1,177,645 | ||||||||
Clarios Global LP/Clarios U.S. Finance Co. |
||||||||||
4.38%, 05/15/26 (a) |
EUR | 301 | 274,637 | |||||||
6.25%, 05/15/26 (c) |
USD | 5,408 | 5,205,200 | |||||||
8.50%, 05/15/27 (c) |
12,095 | 11,689,515 | ||||||||
Dana Financing Luxembourg SARL, 3.00%, 07/15/29 (a) |
EUR | 100 | 74,666 | |||||||
Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28 (c) |
USD | 1,960 | 1,693,244 | |||||||
Dornoch Debt Merger Sub, Inc., 6.63%, 10/15/29 (c) |
601 | 443,839 | ||||||||
Faurecia SE (a) |
||||||||||
2.75%, 02/15/27 |
EUR | 356 | 290,062 | |||||||
3.75%, 06/15/28 |
100 | 80,809 | ||||||||
Goodyear Tire & Rubber Co. |
||||||||||
9.50%, 05/31/25 |
USD | 1,085 | 1,122,077 | |||||||
5.00%, 07/15/29 |
724 | 599,586 | ||||||||
5.63%, 04/30/33 |
1,072 | 858,543 | ||||||||
Grupo Antolin-Irausa SA, 3.50%, 04/30/28 (a) |
EUR | 146 | 101,839 | |||||||
IHO Verwaltungs GmbH, (4.63% PIK), 3.88%, 05/15/27 (a)(i) |
100 | 81,487 | ||||||||
Meritor, Inc., 4.50%, 12/15/28 (c) |
USD | 383 | 368,760 | |||||||
Titan International, Inc., 7.00%, 04/30/28 |
348 | 326,911 | ||||||||
ZF Europe Finance BV, 2.00%, 02/23/26 (a) |
EUR | 100 | 86,583 | |||||||
ZF Finance GmbH (a) |
||||||||||
2.00%, 05/06/27 |
200 | 161,301 | ||||||||
2.75%, 05/25/27 |
100 | 82,547 | ||||||||
|
|
|||||||||
25,850,771 | ||||||||||
Automobiles — 2.4% |
||||||||||
Allison Transmission, Inc., 5.88%, 06/01/29 (c) |
USD | 1,230 | 1,143,900 | |||||||
Asbury Automotive Group, Inc. |
||||||||||
4.50%, 03/01/28 |
751 | 651,493 | ||||||||
4.75%, 03/01/30 |
147 | 120,871 | ||||||||
5.00%, 02/15/32 (c) |
953 | 779,077 | ||||||||
Carvana Co. (c) |
||||||||||
5.50%, 04/15/27 |
1,524 | 983,494 | ||||||||
4.88%, 09/01/29 |
1,222 | 694,836 | ||||||||
Constellation Automotive Financing PLC, 4.88%, 07/15/27 (a) |
GBP | 100 | 95,558 |
52 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Automobiles (continued) |
||||||||||
Ford Motor Co. |
||||||||||
3.25%, 02/12/32 |
USD | 3,346 | $ | 2,502,473 | ||||||
4.75%, 01/15/43 |
426 | 303,454 | ||||||||
5.29%, 12/08/46 |
532 | 407,993 | ||||||||
Ford Motor Credit Co. LLC |
||||||||||
3.81%, 01/09/24 |
713 | 691,751 | ||||||||
4.69%, 06/09/25 |
200 | 189,002 | ||||||||
5.13%, 06/16/25 |
2,014 | 1,923,209 | ||||||||
4.13%, 08/04/25 |
2,166 | 2,051,603 | ||||||||
3.38%, 11/13/25 |
489 | 440,330 | ||||||||
4.39%, 01/08/26 |
507 | 466,977 | ||||||||
2.70%, 08/10/26 |
1,611 | 1,372,814 | ||||||||
4.95%, 05/28/27 |
969 | 899,959 | ||||||||
4.13%, 08/17/27 |
644 | 567,042 | ||||||||
3.82%, 11/02/27 |
200 | 170,000 | ||||||||
2.90%, 02/16/28 |
1,644 | 1,324,669 | ||||||||
5.11%, 05/03/29 |
1,248 | 1,118,800 | ||||||||
4.00%, 11/13/30 |
1,424 | 1,153,803 | ||||||||
3.63%, 06/17/31 |
1,200 | 930,000 | ||||||||
Group 1 Automotive, Inc., 4.00%, 08/15/28 (c) |
243 | 203,095 | ||||||||
Jaguar Land Rover Automotive PLC (a) |
||||||||||
6.88%, 11/15/26 |
EUR | 100 | 91,757 | |||||||
4.50%, 07/15/28 |
138 | 103,238 | ||||||||
Ken Garff Automotive LLC, 4.88%, 09/15/28 (c) |
USD | 680 | 554,401 | |||||||
LCM Investments Holdings II LLC, 4.88%, 05/01/29 (c) |
1,552 | 1,181,227 | ||||||||
Lithia Motors, Inc., 3.88%, 06/01/29 (c) |
721 | 612,403 | ||||||||
MajorDrive Holdings IV LLC, 6.38%, 06/01/29 (c) |
975 | 667,875 | ||||||||
Penske Automotive Group, Inc. |
||||||||||
3.50%, 09/01/25 |
1,040 | 975,000 | ||||||||
3.75%, 06/15/29 |
377 | 313,913 | ||||||||
RCI Banque SA, (5 year EUR Swap + 2.85%), 2.63%, 02/18/30 (a)(b) |
EUR | 400 | 363,308 | |||||||
Renault SA, 2.38%, 05/25/26 (a) |
100 | 89,690 | ||||||||
Sonic Automotive, Inc., 4.63%, 11/15/29 (c) |
USD | 362 | 280,481 | |||||||
Volvo Car AB, 2.50%, 10/07/27 (a) |
EUR | 100 | 90,791 | |||||||
Wabash National Corp., 4.50%, 10/15/28 (c) |
USD | 1,072 | 820,080 | |||||||
|
|
|||||||||
27,330,367 | ||||||||||
Banks — 0.7% |
||||||||||
Banca Monte dei Paschi di Siena SpA (a) |
||||||||||
2.63%, 04/28/25 |
EUR | 125 | 115,648 | |||||||
1.88%, 01/09/26 |
100 | 87,207 | ||||||||
Banco BPM SpA (a)(b) |
||||||||||
(5 year EUR Swap + 3.17%), 2.88%, 06/29/31 |
275 | 244,238 | ||||||||
(5 year EUR Swap + 5.42%), 5.00%, 09/14/30 |
100 | 99,689 | ||||||||
Banco de Sabadell SA, (5 year EUR Swap + 2.20%), 2.00%, 01/17/30 (a)(b) |
200 | 182,343 | ||||||||
Banco Espirito Santo SA (j) |
||||||||||
4.75%, 01/15/22 (b) |
1,900 | 288,710 | ||||||||
4.00%, 01/21/22 (g) |
1,100 | 167,148 | ||||||||
BPER Banca, (5 year EUR Swap + 3.73%), 3.88%, 07/25/32 (a)(b) |
200 | 177,646 | ||||||||
Commerzbank AG, (5 year EUR Swap + 6.36%), 6.13% (a)(b)(k) |
400 | 378,310 | ||||||||
First-Citizens Bank & Trust Co., 6.00%, 04/01/36 |
USD | 3,261 | 3,446,379 | |||||||
HSBC Bank PLC, Series 1M, (6 mo. LIBOR US + 0.25%), 3.12% (b)(k) |
170 | 129,710 | ||||||||
Intesa Sanpaolo SpA 5.15%, 06/10/30 (a) |
GBP | 125 | 131,417 |
Security |
Par (000) |
Value |
||||||||||
Banks (continued) |
||||||||||||
Intesa Sanpaolo SpA (continued) |
||||||||||||
(1 year CMT + 2.60%), 4.20%, 06/01/32 (b)(c) |
USD | 855 | $ | 626,250 | ||||||||
(1 year CMT + 2.75%), 4.95%, 06/01/42 (b)(c) |
630 | 425,652 | ||||||||||
Wells Fargo & Co., Series BB, (5 year CMT + 3.45%), 3.90% (b)(k) |
2,130 | 1,834,463 | ||||||||||
|
|
|||||||||||
8,334,810 | ||||||||||||
Beverages — 2.0% |
||||||||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27 (c)(i) |
3,279 | 2,432,445 | ||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC |
||||||||||||
2.00%, 09/01/28 (a) |
EUR | 148 | 122,354 | |||||||||
3.00%, 09/01/29 (a) |
507 | 395,244 | ||||||||||
4.00%, 09/01/29 (c) |
USD | 6,731 | 5,401,628 | |||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. (c) |
||||||||||||
5.25%, 04/30/25 |
200 | 184,999 | ||||||||||
4.13%, 08/15/26 |
938 | 794,683 | ||||||||||
4.75%, 07/15/27 |
GBP | 427 | 372,857 | |||||||||
5.25%, 08/15/27 |
USD | 355 | 253,136 | |||||||||
Ball Corp. |
||||||||||||
2.88%, 08/15/30 |
151 | 121,541 | ||||||||||
3.13%, 09/15/31 |
2,110 | 1,702,010 | ||||||||||
Canpack SA/Canpack U.S. LLC, 3.13%, 11/01/25 (c) |
584 | 521,585 | ||||||||||
Crown Cork & Seal Co., Inc., 7.38%, 12/15/26 |
155 | 158,334 | ||||||||||
Mauser Packaging Solutions Holding Co., 5.50%, 04/15/24 (c) |
2,321 | 2,216,555 | ||||||||||
OI European Group BV, 2.88%, 02/15/25 (a) |
EUR | 100 | 94,901 | |||||||||
Silgan Holdings, Inc., 4.13%, 02/01/28 |
USD | 150 | 134,510 | |||||||||
Trivium Packaging Finance BV (c) |
||||||||||||
5.50%, 08/15/26 |
2,693 | 2,544,104 | ||||||||||
8.50%, 08/15/27 |
5,584 | 5,235,579 | ||||||||||
|
|
|||||||||||
22,686,465 | ||||||||||||
Biotechnology (a) — 0.0% |
||||||||||||
Cidron Aida Finco SARL |
||||||||||||
5.00%, 04/01/28 |
EUR | 269 | 234,162 | |||||||||
6.25%, 04/01/28 |
GBP | 133 | 132,354 | |||||||||
Grifols Escrow Issuer SA, 3.88%, 10/15/28 |
EUR | 100 | 86,327 | |||||||||
|
|
|||||||||||
452,843 | ||||||||||||
Building Materials — 0.9% |
||||||||||||
Cornerstone Building Brands, Inc., 6.13%, 01/15/29 (c) |
USD | 956 | 614,175 | |||||||||
CP Atlas Buyer, Inc., 7.00%, 12/01/28 (c) |
354 | 255,652 | ||||||||||
HT Troplast GmbH, 9.25%, 07/15/25 (a) |
EUR | 128 | 118,712 | |||||||||
James Hardie International Finance DAC, 5.00%, 01/15/28 (c) |
USD | 458 | 407,620 | |||||||||
Jeld-Wen, Inc. (c) |
||||||||||||
6.25%, 05/15/25 |
852 | 817,920 | ||||||||||
4.63%, 12/15/25 |
101 | 85,850 | ||||||||||
Masonite International Corp. (c) |
||||||||||||
Class C, 5.38%, 02/01/28 |
239 | 216,295 | ||||||||||
Class C, 3.50%, 02/15/30 |
1,179 | 938,449 | ||||||||||
New Enterprise Stone & Lime Co., Inc. (c) |
||||||||||||
5.25%, 07/15/28 |
435 | 357,585 | ||||||||||
9.75%, 07/15/28 |
640 | 547,200 | ||||||||||
PCF GmbH, 4.75%, 04/15/26 (a) |
EUR | 100 | 82,526 | |||||||||
SRM Escrow Issuer LLC, 6.00%, 11/01/28 (c) |
USD | 2,731 | 2,308,323 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Building Materials (continued) |
||||||||||||
Standard Industries, Inc. |
||||||||||||
2.25%, 11/21/26 (a) |
EUR | 134 | $ | 109,616 | ||||||||
5.00%, 02/15/27 (c) |
USD | 576 | 514,113 | |||||||||
4.38%, 07/15/30 (c) |
2,148 | 1,694,235 | ||||||||||
3.38%, 01/15/31 (c) |
819 | 604,109 | ||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 (c) |
923 | 805,317 | ||||||||||
|
|
|||||||||||
10,477,697 | ||||||||||||
Building Products — 1.4% |
||||||||||||
Advanced Drainage Systems, Inc. |
||||||||||||
5.00%, 09/30/27 (c) |
1,128 | 1,040,039 | ||||||||||
6.38%, 06/15/30 |
2,037 | 1,989,273 | ||||||||||
Beacon Roofing Supply, Inc., 4.13%, 05/15/29 (c) |
552 | 448,897 | ||||||||||
Foundation Building Materials, Inc., 6.00%, 03/01/29 (c) |
931 | 681,958 | ||||||||||
GYP Holdings III Corp., 4.63%, 05/01/29 (c) |
1,296 | 1,010,530 | ||||||||||
LBM Acquisition LLC, 6.25%, 01/15/29 (c) |
1,243 | 800,261 | ||||||||||
Patrick Industries, Inc., 4.75%, 05/01/29 (c) |
354 | 263,457 | ||||||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26 (c) |
1,130 | 918,707 | ||||||||||
SRS Distribution, Inc. (c) |
||||||||||||
4.63%, 07/01/28 |
2,495 | 2,183,125 | ||||||||||
6.13%, 07/01/29 |
2,261 | 1,783,873 | ||||||||||
6.00%, 12/01/29 |
2,431 | 1,908,894 | ||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28 (c) |
2,782 | 2,225,600 | ||||||||||
White Cap Parent LLC, (8.25% PIK), 8.25%, 03/15/26 (c)(i) |
1,165 | 969,862 | ||||||||||
|
|
|||||||||||
16,224,476 | ||||||||||||
Capital Markets — 1.6% |
||||||||||||
Aretec Escrow Issuer, Inc., 7.50%, 04/01/29 (c) |
613 | 522,399 | ||||||||||
Charles Schwab Corp., Series H, (10 year CMT + 3.08%), 4.00% (b)(k) |
4,775 | 3,675,556 | ||||||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (c) |
1,129 | 931,425 | ||||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
||||||||||||
4.75%, 09/15/24 |
591 | 551,584 | ||||||||||
6.25%, 05/15/26 |
696 | 651,567 | ||||||||||
5.25%, 05/15/27 |
1,899 | 1,682,210 | ||||||||||
4.38%, 02/01/29 |
1,324 | 1,070,004 | ||||||||||
Kane Bidco Ltd., 6.50%, 02/15/27 (a) |
GBP | 165 | 175,386 | |||||||||
Lehman Brothers Holding Escrow, 1.00% (d)(g)(j)(k) |
USD | 430 | 1,720 | |||||||||
Lehman Brothers Holdings, Inc. (d)(g)(j) |
||||||||||||
5.38%, 10/17/12 |
EUR | 350 | 2,017 | |||||||||
1.00%, 05/17/13 |
USD | 1,535 | 6,140 | |||||||||
1.00%, 02/05/22 |
EUR | 3,950 | 22,767 | |||||||||
4.75%, 01/16/49 |
1,890 | 10,894 | ||||||||||
NFP Corp. (c) |
||||||||||||
4.88%, 08/15/28 |
USD | 2,374 | 2,033,260 | |||||||||
6.88%, 08/15/28 |
7,250 | 5,981,540 | ||||||||||
OWL Rock Core Income Corp., 5.50%, 03/21/25 (c) |
873 | 838,107 | ||||||||||
Sherwood Financing PLC, 6.00%, 11/15/26 (a) |
GBP | 100 | 97,450 | |||||||||
|
|
|||||||||||
18,254,026 | ||||||||||||
Chemicals — 3.1% |
||||||||||||
Ashland LLC, 3.38%, 09/01/31 (c) |
USD | 1,561 | 1,269,677 | |||||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29 (c) |
2,201 | 1,796,830 |
Security |
Par (000) |
Value |
||||||||
Chemicals (continued) |
||||||||||
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (c) |
USD | 998 | $ | 896,803 | ||||||
Chemours Co. |
||||||||||
4.00%, 05/15/26 |
EUR | 200 | 185,487 | |||||||
5.75%, 11/15/28 (c) |
USD | 609 | 519,008 | |||||||
Diamond BC BV, 4.63%, 10/01/29 (c) |
2,340 | 1,871,298 | ||||||||
Element Solutions, Inc., 3.88%, 09/01/28 (c) |
6,899 | 5,692,572 | ||||||||
EverArc Escrow SARL, 5.00%, 10/30/29 (c) |
3,027 | 2,547,871 | ||||||||
FIS Fabbrica Italiana Sintetici SpA, 5.63%, 08/01/27 (a) |
EUR | 100 | 88,253 | |||||||
GCP Applied Technologies, Inc., 5.50%, 04/15/26 (c) |
USD | 791 | 787,045 | |||||||
HB Fuller Co., 4.25%, 10/15/28 |
606 | 508,470 | ||||||||
Herens Holdco SARL, 4.75%, 05/15/28 (c) |
2,396 | 1,990,597 | ||||||||
Herens Midco SARL, 5.25%, 05/15/29 (a) |
EUR | 202 | 138,121 | |||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28 (c) |
USD | 1,619 | 1,279,010 | |||||||
Ingevity Corp., 3.88%, 11/01/28 (c) |
494 | 413,725 | ||||||||
Kobe U.S. Midco 2, Inc., (9.25% Cash or 10.00% PIK), 9.25%, 11/01/26 (c)(i) |
1,238 | 1,132,324 | ||||||||
LSF11 A5 HoldCo LLC, 6.63%, 10/15/29 (c) |
610 | 513,925 | ||||||||
Lune Holdings SARL, 5.63%, 11/15/28 (a) |
EUR | 150 | 126,213 | |||||||
Minerals Technologies, Inc., 5.00%, 07/01/28 (c) |
USD | 878 | 764,123 | |||||||
Monitchem HoldCo 2 SA, 9.50%, 09/15/26 (a) |
EUR | 100 | 98,769 | |||||||
Monitchem HoldCo 3 SA, 5.25%, 03/15/25 (a) |
222 | 213,161 | ||||||||
NOVA Chemicals Corp., 4.88%, 06/01/24 (c) |
USD | 456 | 433,427 | |||||||
Olympus Water U.S. Holding Corp. (a) |
||||||||||
3.88%, 10/01/28 |
EUR | 100 | 84,708 | |||||||
5.38%, 10/01/29 |
100 | 75,087 | ||||||||
SCIL IV LLC/SCIL USA Holdings LLC |
||||||||||
4.38%, 11/01/26 (a) |
100 | 84,811 | ||||||||
5.38%, 11/01/26 (c) |
USD | 1,284 | 1,027,200 | |||||||
Scotts Miracle-Gro Co. |
||||||||||
4.00%, 04/01/31 |
843 | 630,143 | ||||||||
4.38%, 02/01/32 |
146 | 110,994 | ||||||||
SPCM SA, 3.13%, 03/15/27 (c) |
512 | 431,278 | ||||||||
WESCO Distribution, Inc. (c) |
||||||||||
7.13%, 06/15/25 |
1,940 | 1,935,790 | ||||||||
7.25%, 06/15/28 |
2,744 | 2,713,816 | ||||||||
WR Grace Holdings LLC, 5.63%, 08/15/29 (c) |
7,039 | 5,182,464 | ||||||||
|
|
|||||||||
35,543,000 | ||||||||||
Commercial Services & Supplies — 1.6% |
||||||||||
ADT Security Corp. (c) |
||||||||||
4.13%, 08/01/29 |
104 | 84,403 | ||||||||
4.88%, 07/15/32 |
143 | 113,831 | ||||||||
Albion Financing 1 SARL/Aggreko Holdings, Inc., 6.13%, 10/15/26 (c) |
940 | 804,478 | ||||||||
AMN Healthcare, Inc., 4.00%, 04/15/29 (c) |
502 | 424,190 | ||||||||
APX Group, Inc. (c) |
||||||||||
6.75%, 02/15/27 |
1,620 | 1,502,390 | ||||||||
5.75%, 07/15/29 |
1,478 | 1,144,255 | ||||||||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.38%, 03/01/29 (c) |
198 | 164,699 | ||||||||
BCP V Modular Services Finance II PLC (a) |
||||||||||
4.75%, 11/30/28 |
EUR | 300 | 249,465 | |||||||
6.13%, 11/30/28 |
GBP | 100 | 94,889 | |||||||
EC Finance PLC, 3.00%, 10/15/26 (a) |
EUR | 209 | 191,045 |
54 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Commercial Services & Supplies (continued) |
||||||||||
Fortress Transportation & Infrastructure Investors LLC (c) |
||||||||||
6.50%, 10/01/25 |
USD | 386 | $ | 364,195 | ||||||
9.75%, 08/01/27 |
261 | 255,102 | ||||||||
5.50%, 05/01/28 |
1,713 | 1,413,935 | ||||||||
Herc Holdings, Inc., 5.50%, 07/15/27 (c) |
2,566 | 2,342,504 | ||||||||
Hertz Corp. (c) |
||||||||||
4.63%, 12/01/26 |
666 | 556,829 | ||||||||
5.00%, 12/01/29 |
476 | 366,520 | ||||||||
Inter Media & Communication SpA, 6.75%, 02/09/27 (a) |
EUR | 100 | 93,259 | |||||||
Loxam SAS (a) |
||||||||||
4.25%, 04/15/24 |
100 | 100,364 | ||||||||
3.25%, 01/14/25 |
268 | 252,750 | ||||||||
3.75%, 07/15/26 |
115 | 103,196 | ||||||||
4.50%, 02/15/27 |
101 | 90,733 | ||||||||
Metis Merger Sub LLC, 6.50%, 05/15/29 (c) |
USD | 1,185 | 941,657 | |||||||
NESCO Holdings II, Inc., 5.50%, 04/15/29 (c) |
1,353 | 1,133,137 | ||||||||
Paprec Holding SA, 3.50%, 07/01/28 (a) |
EUR | 100 | 81,300 | |||||||
PECF USS Intermediate Holding III Corp., 8.00%, 11/15/29 (c) |
USD | 25 | 19,813 | |||||||
Prime Security Services Borrower LLC/Prime Finance, Inc. (c) |
||||||||||
5.75%, 04/15/26 |
859 | 801,017 | ||||||||
6.25%, 01/15/28 |
1,813 | 1,516,748 | ||||||||
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29 (c) |
1,872 | 1,606,773 | ||||||||
United Rentals North America, Inc., 5.25%, 01/15/30 |
496 | 460,040 | ||||||||
Verisure Holding AB, 3.88%, 07/15/26 (a) |
EUR | 140 | 128,271 | |||||||
Verisure Midholding AB, 5.25%, 02/15/29 (a) |
181 | 144,171 | ||||||||
Williams Scotsman International, Inc., 4.63%, 08/15/28 (c) |
USD | 1,196 | 1,019,590 | |||||||
|
|
|||||||||
18,565,549 | ||||||||||
Communications Equipment — 0.9% |
||||||||||
Avaya, Inc., 6.13%, 09/15/28 (c) |
2,743 | 1,789,807 | ||||||||
Ciena Corp., 4.00%, 01/31/30 (c) |
548 | 472,995 | ||||||||
CommScope Technologies LLC, 6.00%, 06/15/25 (c) |
2,145 | 1,855,425 | ||||||||
CommScope, Inc. (c) |
||||||||||
6.00%, 03/01/26 |
853 | 785,639 | ||||||||
8.25%, 03/01/27 |
115 | 90,907 | ||||||||
7.13%, 07/01/28 |
1,152 | 875,612 | ||||||||
4.75%, 09/01/29 |
1,197 | 965,614 | ||||||||
Nokia OYJ, 4.38%, 06/12/27 |
439 | 414,722 | ||||||||
Viasat, Inc. (c) |
||||||||||
5.63%, 09/15/25 |
1,109 | 896,997 | ||||||||
5.63%, 04/15/27 |
837 | 723,718 | ||||||||
6.50%, 07/15/28 |
1,011 | 696,397 | ||||||||
Viavi Solutions, Inc., 3.75%, 10/01/29 (c) |
1,546 | 1,294,800 | ||||||||
|
|
|||||||||
10,862,633 | ||||||||||
Construction Materials (c) — 0.5% |
||||||||||
American Builders & Contractors Supply Co., Inc. |
||||||||||
4.00%, 01/15/28 |
632 | 541,314 | ||||||||
3.88%, 11/15/29 |
299 | 239,048 | ||||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27 |
601 | 489,265 | ||||||||
H&E Equipment Services, Inc., 3.88%, 12/15/28 |
358 | 289,532 | ||||||||
IAA, Inc., 5.50%, 06/15/27 |
1,538 | 1,432,555 | ||||||||
Picasso Finance Sub, Inc., 6.13%, 06/15/25 |
1,652 | 1,610,700 |
Security |
Par (000) |
Value |
||||||||
Construction Materials (continued) |
||||||||||
Thor Industries, Inc., 4.00%, 10/15/29 |
USD | 909 | $ | 719,928 | ||||||
Winnebago Industries, Inc., 6.25%, 07/15/28 |
585 | 535,711 | ||||||||
|
|
|||||||||
5,858,053 | ||||||||||
Consumer Discretionary — 2.5% |
||||||||||
APi Escrow Corp., 4.75%, 10/15/29 (c) |
542 | 437,665 | ||||||||
APi Group DE, Inc., 4.13%, 07/15/29 (c) |
727 | 577,383 | ||||||||
Carnival Corp. |
||||||||||
10.13%, 02/01/26 (a) |
EUR | 201 | 208,058 | |||||||
10.50%, 02/01/26 (c) |
USD | 2,076 | 2,066,596 | |||||||
7.63%, 03/01/26 (a) |
EUR | 128 | 104,876 | |||||||
5.75%, 03/01/27 (c) |
USD | 5,177 | 3,739,244 | |||||||
9.88%, 08/01/27 (c) |
1,778 | 1,733,550 | ||||||||
4.00%, 08/01/28 (c) |
5,463 | 4,479,660 | ||||||||
6.00%, 05/01/29 (c) |
1,753 | 1,231,675 | ||||||||
CoreLogic, Inc., 4.50%, 05/01/28 (c) |
2,266 | 1,744,820 | ||||||||
Legends Hospitality Holding Co. LLC/Legends Hospitality Co-Issuer, Inc., 5.00%, 02/01/26 (c) |
561 | 470,118 | ||||||||
Life Time, Inc. (c) |
||||||||||
5.75%, 01/15/26 |
1,307 | 1,171,686 | ||||||||
8.00%, 04/15/26 |
1,019 | 908,184 | ||||||||
NCL Corp. Ltd., 5.88%, 03/15/26 (c) |
1,545 | 1,212,655 | ||||||||
NCL Finance Ltd., 6.13%, 03/15/28 (c) |
849 | 617,648 | ||||||||
Nielsen Finance LLC/Nielsen Finance Co. (c) |
||||||||||
5.63%, 10/01/28 |
1,905 | 1,769,173 | ||||||||
5.88%, 10/01/30 |
1,190 | 1,092,610 | ||||||||
Royal Caribbean Cruises Ltd. (c) |
||||||||||
10.88%, 06/01/23 |
505 | 506,687 | ||||||||
9.13%, 06/15/23 |
884 | 874,241 | ||||||||
11.50%, 06/01/25 |
725 | 744,937 | ||||||||
5.50%, 08/31/26 |
458 | 340,065 | ||||||||
5.50%, 04/01/28 |
2,176 | 1,512,320 | ||||||||
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 07/30/26 (a) |
EUR | 176 | 155,578 | |||||||
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29 (c) |
USD | 973 | 767,215 | |||||||
|
|
|||||||||
28,466,644 | ||||||||||
Consumer Finance — 2.9% |
||||||||||
American Express Co., (5 year CMT + 2.85%), 3.55% (b)(k) |
4,020 | 3,270,712 | ||||||||
Block, Inc., 3.50%, 06/01/31 (c) |
5,964 | 4,752,473 | ||||||||
Encore Capital Group, Inc. (a) |
||||||||||
4.88%, 10/15/25 |
EUR | 100 | 100,865 | |||||||
5.38%, 02/15/26 |
GBP | 100 | 113,970 | |||||||
4.25%, 06/01/28 |
159 | 159,292 | ||||||||
HealthEquity, Inc., 4.50%, 10/01/29 (c) |
USD | 2,604 | 2,278,500 | |||||||
Iron Mountain U.K. PLC, 3.88%, 11/15/25 (a) |
GBP | 200 | 217,577 | |||||||
MPH Acquisition Holdings LLC, 5.50%, 09/01/28 (c) |
USD | 1,144 | 1,018,159 | |||||||
Navient Corp. |
||||||||||
6.13%, 03/25/24 |
1,297 | 1,229,737 | ||||||||
5.88%, 10/25/24 |
665 | 611,263 | ||||||||
5.50%, 03/15/29 |
745 | 574,329 | ||||||||
Nexi SpA, 0.00%, 02/24/28 (a)(l) |
EUR | 100 | 68,217 | |||||||
OneMain Finance Corp. |
||||||||||
6.88%, 03/15/25 |
USD | 585 | 554,440 | |||||||
7.13%, 03/15/26 |
1,766 | 1,632,190 | ||||||||
3.50%, 01/15/27 |
1,527 | 1,221,600 | ||||||||
6.63%, 01/15/28 |
720 | 643,507 | ||||||||
5.38%, 11/15/29 |
188 | 152,348 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Consumer Finance (continued) |
||||||||||||
OneMain Finance Corp. (continued) |
||||||||||||
4.00%, 09/15/30. |
USD | 545 | $ | 403,981 | ||||||||
Sabre Global, Inc. (c) |
||||||||||||
9.25%, 04/15/25 |
1,250 | 1,204,437 | ||||||||||
7.38%, 09/01/25 |
1,322 | 1,226,155 | ||||||||||
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26 (c) |
2,212 | 1,957,598 | ||||||||||
SLM Corp., 3.13%, 11/02/26 |
930 | 750,938 | ||||||||||
Verscend Escrow Corp., 9.75%, 08/15/26 (c) |
9,470 | 9,209,575 | ||||||||||
|
|
|||||||||||
33,351,863 | ||||||||||||
Containers & Packaging — 0.9% |
||||||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC (c) |
||||||||||||
6.00%, 06/15/27 |
2,279 | 2,255,595 | ||||||||||
3.25%, 09/01/28 |
213 | 181,810 | ||||||||||
Clydesdale Acquisition Holdings, Inc. (c) |
||||||||||||
6.63%, 04/15/29 |
2,605 | 2,447,736 | ||||||||||
8.75%, 04/15/30 |
1,713 | 1,477,582 | ||||||||||
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 |
433 | 399,442 | ||||||||||
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 |
439 | 417,761 | ||||||||||
Graphic Packaging International LLC |
||||||||||||
4.75%, 07/15/27 (c) |
574 | 541,966 | ||||||||||
3.50%, 03/15/28 (c) |
67 | 57,621 | ||||||||||
2.63%, 02/01/29 (a) |
EUR | 342 | 290,804 | |||||||||
3.50%, 03/01/29 (c) |
USD | 156 | 130,993 | |||||||||
Kleopatra Finco SARL, 4.25%, 03/01/26 (a) |
EUR | 100 | 85,408 | |||||||||
LABL, Inc., 5.88%, 11/01/28 (c) |
USD | 1,415 | 1,142,509 | |||||||||
Sealed Air Corp. (c) |
||||||||||||
5.13%, 12/01/24 |
142 | 140,935 | ||||||||||
4.00%, 12/01/27 |
412 | 371,422 | ||||||||||
|
|
|||||||||||
9,941,584 | ||||||||||||
Diversified Consumer Services — 2.5% |
||||||||||||
Allied Universal Holdco LLC/Allied Universal |
||||||||||||
Finance Corp. (c) |
||||||||||||
6.63%, 07/15/26 |
5,900 | 5,414,017 | ||||||||||
9.75%, 07/15/27 |
3,116 | 2,637,195 | ||||||||||
6.00%, 06/01/29 |
3,451 | 2,506,018 | ||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL |
||||||||||||
3.63%, 06/01/28 (a) |
EUR | 117 | 92,259 | |||||||||
4.63%, 06/01/28 (c) |
USD | 6,945 | 5,679,599 | |||||||||
4.88%, 06/01/28 (a) |
GBP | 100 | 95,467 | |||||||||
Brink’s Co., 5.50%, 07/15/25 (c) |
USD | 281 | 270,384 | |||||||||
Clarivate Science Holdings Corp. (c) |
||||||||||||
3.88%, 07/01/28 |
3,464 | 2,894,201 | ||||||||||
4.88%, 07/01/29 |
2,498 | 2,050,858 | ||||||||||
Garda World Security Corp., 4.63%, 02/15/27 (c) |
807 | 694,020 | ||||||||||
Graham Holdings Co., 5.75%, 06/01/26 (c) |
705 | 697,950 | ||||||||||
Rekeep SpA, 7.25%, 02/01/26 (a) |
EUR | 200 | 180,586 | |||||||||
Service Corp. International |
||||||||||||
5.13%, 06/01/29 |
USD | 269 | 253,449 | |||||||||
3.38%, 08/15/30 |
270 | 221,063 | ||||||||||
4.00%, 05/15/31 |
2,401 | 2,049,854 | ||||||||||
Sotheby’s, 7.38%, 10/15/27 (c) |
2,888 | 2,676,521 | ||||||||||
|
|
|||||||||||
28,413,441 |
Security |
Par (000) |
Value |
||||||||
Diversified Financial Services — 1.5% |
||||||||||
Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28 (c) |
USD | 2,432 | $ | 2,018,122 | ||||||
Barclays PLC, 5.20%, 05/12/26 |
800 | 796,586 | ||||||||
Castlelake Aviation Finance DAC, 5.00%, 04/15/27 (c) |
403 | 334,551 | ||||||||
Central Garden & Pet Co. |
||||||||||
4.13%, 10/15/30 |
768 | 630,152 | ||||||||
4.13%, 04/30/31 (c) |
998 | 801,160 | ||||||||
Citigroup, Inc. (b)(k) |
||||||||||
Series W, (5 year CMT + 3.60%), 4.00% |
855 | 739,575 | ||||||||
Series Y, (5 year CMT + 3.00%), 4.15% |
10 | 8,025 | ||||||||
Deutsche Bank AG, (5 year EURIBOR ICE Swap Rate + 3.30%), 4.00%, 06/24/32 (a)(b) |
EUR | 100 | 95,835 | |||||||
Garfunkelux Holdco 3 SA (a) |
||||||||||
6.75%, 11/01/25 |
300 | 278,924 | ||||||||
7.75%, 11/01/25 |
GBP | 100 | 108,948 | |||||||
Global Aircraft Leasing Co. Ltd. (c)(i) |
||||||||||
(6.50% Cash or 7.25% PIK), 6.50%, 09/15/24 |
USD | 683 | 517,357 | |||||||
Series 2021, (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24 |
1,508 | 1,142,310 | ||||||||
Goldman Sachs Group, Inc., Series R, (5 year CMT + 3.22%), 4.95% (b)(k) |
3,780 | 3,403,249 | ||||||||
HSBC Holdings PLC, (5 year CMT + 3.65%), 4.60% (b)(k) |
445 | 342,051 | ||||||||
Intrum AB (a) |
||||||||||
4.88%, 08/15/25 |
EUR | 200 | 189,546 | |||||||
3.50%, 07/15/26 |
201 | 175,630 | ||||||||
ION Trading Technologies SARL, 5.75%, 05/15/28 (c) |
USD | 1,268 | 1,014,134 | |||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (c) |
1,779 | 1,463,228 | ||||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. (c) |
||||||||||
4.25%, 02/01/27 |
780 | 629,711 | ||||||||
4.75%, 06/15/29 |
370 | 284,688 | ||||||||
Lincoln Financing SARL, 3.63%, 04/01/24 (a) |
EUR | 100 | 101,263 | |||||||
Spectrum Brands, Inc. (c) |
||||||||||
5.00%, 10/01/29. |
USD | 424 | 366,650 | |||||||
5.50%, 07/15/30. |
292 | 262,788 | ||||||||
UBS Group AG, (5 year CMT + 3.31%), 4.38% (b)(c)(k) |
950 | 695,020 | ||||||||
UniCredit SpA, (5 year EUR Swap + 2.80%), 2.73%, 01/15/32 (a)(b) |
EUR | 200 | 177,337 | |||||||
VistaJet Malta Finance PLC/XO Management |
||||||||||
Holding, Inc., 6.38%, 02/01/30 (c) |
USD | 862 | 689,600 | |||||||
|
|
|||||||||
17,266,440 | ||||||||||
Diversified Telecommunication Services — 4.2% |
||||||||||
Consolidated Communications, Inc., 6.50%, 10/01/28 (c) |
2,164 | 1,840,655 | ||||||||
Frontier Communications Holdings LLC, 8.75%, 05/15/30 (c) |
1,470 | 1,486,155 | ||||||||
Level 3 Financing, Inc. (c) |
||||||||||
3.40%, 03/01/27 |
446 | 384,152 | ||||||||
4.63%, 09/15/27 |
489 | 416,873 | ||||||||
4.25%, 07/01/28 |
1,395 | 1,117,744 | ||||||||
3.63%, 01/15/29 |
826 | 636,889 | ||||||||
3.75%, 07/15/29 |
948 | 732,998 | ||||||||
Lumen Technologies, Inc. |
||||||||||
5.13%, 12/15/26 (c) |
1,288 | 1,084,264 | ||||||||
4.00%, 02/15/27 (c) |
2,353 | 1,990,050 |
56 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Diversified Telecommunication Services (continued) |
||||||||||||
Lumen Technologies, Inc. (continued) |
||||||||||||
4.50%, 01/15/29 (c) |
USD | 1,927 | $ | 1,434,449 | ||||||||
5.38%, 06/15/29 (c) |
2,647 | 2,095,828 | ||||||||||
Series U, 7.65%, 03/15/42 |
912 | 699,960 | ||||||||||
Series W, 6.75%, 12/01/23 |
1,228 | 1,216,499 | ||||||||||
Series Y, 7.50%, 04/01/24 |
646 | 637,118 | ||||||||||
SoftBank Group Corp. (a) |
||||||||||||
2.13%, 07/06/24 |
EUR | 149 | 139,749 | |||||||||
4.75%, 07/30/25 |
269 | 249,937 | ||||||||||
3.13%, 09/19/25 |
207 | 181,706 | ||||||||||
2.88%, 01/06/27 |
118 | 95,490 | ||||||||||
5.00%, 04/15/28 |
100 | 83,123 | ||||||||||
Sprint Capital Corp. |
||||||||||||
6.88%, 11/15/28 |
USD | 4,617 | 4,854,868 | |||||||||
8.75%, 03/15/32 |
6,823 | 8,211,344 | ||||||||||
Switch Ltd. (c) |
||||||||||||
3.75%, 09/15/28 |
1,853 | 1,832,895 | ||||||||||
4.13%, 06/15/29 |
3,064 | 3,032,871 | ||||||||||
Telecom Italia Capital SA |
||||||||||||
6.38%, 11/15/33 |
1,521 | 1,174,516 | ||||||||||
6.00%, 09/30/34 |
2,322 | 1,751,415 | ||||||||||
7.20%, 07/18/36 |
266 | 201,959 | ||||||||||
7.72%, 06/04/38 |
251 | 193,647 | ||||||||||
Telecom Italia Finance SA, 7.75%, 01/24/33 |
EUR | 83 | 89,693 | |||||||||
Telecom Italia SpA |
||||||||||||
4.00%, 04/11/24 (a) |
139 | 143,116 | ||||||||||
5.30%, 05/30/24 (c) |
USD | 322 | 309,394 | |||||||||
2.75%, 04/15/25 (a) |
EUR | 239 | 231,676 | |||||||||
3.00%, 09/30/25 (a) |
100 | 96,935 | ||||||||||
1.63%, 01/18/29 (a) |
410 | 310,257 | ||||||||||
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 01/15/30 (c) |
USD | 800 | 553,440 | |||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 4.75%, 04/15/28 (c) |
1,498 | 1,231,940 | ||||||||||
Zayo Group Holdings, Inc. (c) |
||||||||||||
4.00%, 03/01/27 |
2,345 | 1,945,389 | ||||||||||
6.13%, 03/01/28 |
7,530 | 5,437,488 | ||||||||||
|
|
|||||||||||
48,126,482 | ||||||||||||
Electric Utilities — 0.8% |
||||||||||||
Edison International, Series A, (5 year CMT + 4.70%), 5.38% (b)(k) |
2,200 | 1,787,500 | ||||||||||
FirstEnergy Corp. |
||||||||||||
2.65%, 03/01/30 |
1,399 | 1,154,175 | ||||||||||
Series B, 2.25%, 09/01/30 |
117 | 92,722 | ||||||||||
Series C, 3.40%, 03/01/50 |
4,094 | 2,775,323 | ||||||||||
FirstEnergy Transmission LLC (c) |
||||||||||||
5.45%, 07/15/44 |
2,074 | 1,938,591 | ||||||||||
4.55%, 04/01/49 |
814 | 654,964 | ||||||||||
NextEra Energy Operating Partners LP, 4.25%, 07/15/24 (c) |
337 | 322,374 | ||||||||||
Public Power Corp. SA, 3.38%, 07/31/28 (a) |
EUR | 110 | 90,721 | |||||||||
|
|
|||||||||||
8,816,370 | ||||||||||||
Electrical Equipment (c) — 0.2% |
||||||||||||
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 |
USD | 2,205 | 2,045,137 | |||||||||
GrafTech Finance, Inc., 4.63%, 12/15/28 |
717 | 580,406 | ||||||||||
|
|
|||||||||||
2,625,543 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.8% |
||||||||||||
Belden, Inc., 3.88%, 03/15/28 (a) |
EUR | 100 | 89,349 |
Security |
Par (000) |
Value |
||||||||||
Electronic Equipment, Instruments & Components (continued) |
||||||||||||
BWX Technologies, Inc. (c) |
||||||||||||
4.13%, 06/30/28 |
USD | 1,415 | $ | 1,259,350 | ||||||||
4.13%, 04/15/29 |
1,267 | 1,111,793 | ||||||||||
Energizer Gamma Acquisition BV, 3.50%, 06/30/29 (a) |
EUR | 118 | 87,779 | |||||||||
Energizer Holdings, Inc. (c) |
||||||||||||
4.75%, 06/15/28 |
USD | 388 | 307,963 | |||||||||
4.38%, 03/31/29 |
96 | 73,702 | ||||||||||
Imola Merger Corp., 4.75%, 05/15/29 (c) |
3,460 | 2,894,844 | ||||||||||
Vertiv Group Corp., 4.13%, 11/15/28 (c) |
3,744 | 3,039,828 | ||||||||||
Xerox Corp., 4.80%, 03/01/35 |
372 | 285,453 | ||||||||||
|
|
|||||||||||
9,150,061 | ||||||||||||
Energy Equipment & Services — 0.6% |
||||||||||||
Archrock Partners LP/Archrock Partners Finance Corp. (c) |
||||||||||||
6.88%, 04/01/27 |
799 | 728,584 | ||||||||||
6.25%, 04/01/28 |
2,258 | 1,999,007 | ||||||||||
CGG SA, 7.75%, 04/01/27 (a) |
EUR | 100 | 89,076 | |||||||||
Saipem Finance International BV (a) |
||||||||||||
2.63%, 01/07/25 |
100 | 86,988 | ||||||||||
3.38%, 07/15/26 |
100 | 82,534 | ||||||||||
USA Compression Partners LP/USA |
||||||||||||
Compression Finance Corp. |
||||||||||||
6.88%, 04/01/26 |
USD | 1,942 | 1,766,637 | |||||||||
6.88%, 09/01/27 |
1,063 | 943,413 | ||||||||||
Vallourec SA, 8.50%, 06/30/26 (a) |
EUR | 125 | 120,973 | |||||||||
Weatherford International Ltd. (c) |
||||||||||||
6.50%, 09/15/28 |
USD | 74 | 66,415 | |||||||||
8.63%, 04/30/30 |
1,439 | 1,194,063 | ||||||||||
|
|
|||||||||||
7,077,690 | ||||||||||||
Entertainment (c) — 0.2% |
||||||||||||
AMC Entertainment Holdings, Inc., 7.50%, 02/15/29 |
1,289 | 1,089,205 | ||||||||||
Lindblad Expeditions LLC, 6.75%, 02/15/27 |
1,331 | 1,141,333 | ||||||||||
NCL Corp. Ltd., 7.75%, 02/15/29 |
575 | 439,875 | ||||||||||
|
|
|||||||||||
2,670,413 | ||||||||||||
Environmental, Maintenance & Security Service — 1.1% |
||||||||||||
Clean Harbors, Inc. (c) |
||||||||||||
4.88%, 07/15/27 |
678 | 620,370 | ||||||||||
5.13%, 07/15/29 |
1,069 | 970,117 | ||||||||||
Covanta Holding Corp. |
||||||||||||
4.88%, 12/01/29 (c) |
1,174 | 955,307 | ||||||||||
5.00%, 09/01/30 |
413 | 337,132 | ||||||||||
GFL Environmental, Inc. (c) |
||||||||||||
4.25%, 06/01/25 |
487 | 459,592 | ||||||||||
3.75%, 08/01/25 |
427 | 396,043 | ||||||||||
5.13%, 12/15/26 |
1,241 | 1,186,768 | ||||||||||
4.00%, 08/01/28 |
2,291 | 1,890,075 | ||||||||||
3.50%, 09/01/28 |
408 | 349,860 | ||||||||||
4.75%, 06/15/29 |
1,067 | 882,942 | ||||||||||
4.38%, 08/15/29 |
1,294 | 1,041,670 | ||||||||||
Stericycle, Inc., 3.88%, 01/15/29 (c) |
768 | 627,840 | ||||||||||
Tervita Corp., 11.00%, 12/01/25 (c) |
415 | 451,313 | ||||||||||
Waste Pro USA, Inc., 5.50%, 02/15/26 (c) |
2,868 | 2,547,644 | ||||||||||
|
|
|||||||||||
12,716,673 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Equity Real Estate Investment Trusts (REITs) — 1.3% |
||||||||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 4.50%, 04/01/27 (c) |
USD | 962 | $ | 797,724 | ||||||
CTR Partnership LP/CareTrust Capital Corp., 3.88%, 06/30/28 (c) |
901 | 769,454 | ||||||||
Diversified Healthcare Trust, 9.75%, 06/15/25 |
374 | 368,858 | ||||||||
Global Net Lease, Inc./Global Net Lease |
||||||||||
Operating Partnership LP, 3.75%, 12/15/27 (c) |
774 | 646,825 | ||||||||
HAT Holdings I LLC/HAT Holdings II LLC, 3.38%, 06/15/26 (c) |
1,021 | 878,060 | ||||||||
Iron Mountain, Inc. (c) |
||||||||||
5.25%, 07/15/30 |
694 | 603,360 | ||||||||
5.63%, 07/15/32 |
697 | 589,367 | ||||||||
MPT Operating Partnership LP/MPT Finance Corp. |
||||||||||
5.00%, 10/15/27 |
187 | 171,043 | ||||||||
4.63%, 08/01/29 |
2,863 | 2,512,283 | ||||||||
3.50%, 03/15/31 |
4,369 | 3,443,471 | ||||||||
RHP Hotel Properties LP/RHP Finance Corp. |
||||||||||
4.75%, 10/15/27 |
1,892 | 1,678,412 | ||||||||
4.50%, 02/15/29 (c) |
997 | 845,355 | ||||||||
RLJ Lodging Trust LP (c) |
||||||||||
3.75%, 07/01/26 |
690 | 597,932 | ||||||||
4.00%, 09/15/29 |
530 | 435,349 | ||||||||
Service Properties Trust |
||||||||||
4.35%, 10/01/24 |
129 | 104,825 | ||||||||
7.50%, 09/15/25 |
477 | 437,051 | ||||||||
|
|
|||||||||
14,879,369 | ||||||||||
Food & Staples Retailing — 2.1% |
||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC (c) |
||||||||||
3.25%, 03/15/26 |
1,678 | 1,461,455 | ||||||||
4.63%, 01/15/27 |
1,668 | 1,490,058 | ||||||||
5.88%, 02/15/28 |
1,440 | 1,345,867 | ||||||||
4.88%, 02/15/30 |
349 | 299,386 | ||||||||
Bellis Acquisition Co. PLC (a) |
||||||||||
3.25%, 02/16/26 |
GBP | 200 | 188,682 | |||||||
4.50%, 02/16/26 |
225 | 219,114 | ||||||||
Casino Guichard Perrachon SA, 5.25%, 04/15/27 (a) |
EUR | 117 | 81,869 | |||||||
Darling Ingredients, Inc., 6.00%, 06/15/30 (c) |
USD | 1,628 | 1,622,546 | |||||||
Iceland Bondco PLC (a) |
||||||||||
4.63%, 03/15/25 |
GBP | 246 | 231,098 | |||||||
4.38%, 05/15/28 |
146 | 117,299 | ||||||||
Kraft Heinz Foods Co. |
||||||||||
6.50%, 02/09/40 |
USD | 980 | 1,058,976 | |||||||
4.88%, 10/01/49 |
2,035 | 1,797,416 | ||||||||
5.50%, 06/01/50 |
4,607 | 4,422,324 | ||||||||
Lamb Weston Holdings, Inc. (c) |
||||||||||
4.88%, 05/15/28 |
906 | 852,646 | ||||||||
4.13%, 01/31/30 |
1,483 | 1,283,625 | ||||||||
4.38%, 01/31/32 |
1,908 | 1,659,960 | ||||||||
Market Bidco Finco PLC, 5.50%, 11/04/27 (a) |
GBP | 187 | 173,003 | |||||||
Ocado Group PLC, 3.88%, 10/08/26 (a) |
120 | 117,149 | ||||||||
Performance Food Group, Inc., 4.25%, 08/01/29 (c) |
USD | 1,890 | 1,578,150 | |||||||
Picard Groupe SAS, 3.88%, 07/01/26 (a) |
EUR | 112 | 95,635 | |||||||
Post Holdings, Inc. (c) |
||||||||||
5.75%, 03/01/27 |
USD | 2 | 1,938 | |||||||
5.63%, 01/15/28 |
484 | 459,413 |
Security |
Par (000) |
Value |
||||||||||
Food & Staples Retailing (continued) |
||||||||||||
Post Holdings, Inc. (c) (continued) |
||||||||||||
5.50%, 12/15/29 |
USD | 243 | $ | 217,237 | ||||||||
4.50%, 09/15/31 |
194 | 158,663 | ||||||||||
Premier Foods Finance PLC, 3.50%, 10/15/26 (a) |
GBP | 100 | 105,601 | |||||||||
Quatrim SASU, 5.88%, 01/15/24 (a) |
EUR | 200 | 198,672 | |||||||||
U.S. Foods, Inc. (c) |
||||||||||||
6.25%, 04/15/25 |
USD | 841 | 838,898 | |||||||||
4.75%, 02/15/29 |
1,687 | 1,474,759 | ||||||||||
United Natural Foods, Inc., 6.75%, 10/15/28 (c) |
268 | 250,457 | ||||||||||
|
|
|||||||||||
23,801,896 | ||||||||||||
Food Products — 1.0% |
||||||||||||
Aramark Services, Inc. (c) |
||||||||||||
5.00%, 04/01/25 |
20 | 19,163 | ||||||||||
6.38%, 05/01/25 |
1,507 | 1,474,373 | ||||||||||
5.00%, 02/01/28 |
1,469 | 1,331,222 | ||||||||||
Chobani LLC/Chobani Finance Corp., Inc. (c) |
||||||||||||
7.50%, 04/15/25 |
3,601 | 3,307,046 | ||||||||||
4.63%, 11/15/28 |
1,712 | 1,446,640 | ||||||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 3.75%, 12/01/31 (c) |
1,672 | 1,371,688 | ||||||||||
Pilgrim’s Pride Corp., 3.50%, 03/01/32 (c) |
990 | 773,438 | ||||||||||
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/29 (c) |
1,392 | 1,176,797 | ||||||||||
Tereos Finance Groupe I SA, 7.50%, 10/30/25 (a) |
EUR | 100 | 102,855 | |||||||||
|
|
|||||||||||
11,003,222 | ||||||||||||
Gas Utilities — 0.0% |
||||||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31 (c) |
USD | 537 | 456,651 | |||||||||
|
|
|||||||||||
Health Care Equipment & Supplies (c) — 0.5% |
||||||||||||
Avantor Funding, Inc. |
||||||||||||
4.63%, 07/15/28 |
4,615 | 4,230,570 | ||||||||||
3.88%, 11/01/29 |
1,061 | 928,004 | ||||||||||
Embecta Corp., 6.75%, 02/15/30 |
782 | 704,058 | ||||||||||
Hologic, Inc., 3.25%, 02/15/29 |
316 | 270,085 | ||||||||||
|
|
|||||||||||
6,132,717 | ||||||||||||
Health Care Providers & Services — 5.0% |
||||||||||||
180 Medical, Inc., 3.88%, 10/15/29 (c) |
354 | 306,210 | ||||||||||
Acadia Healthcare Co., Inc. (c) |
||||||||||||
5.50%, 07/01/28 |
604 | 564,317 | ||||||||||
5.00%, 04/15/29 |
273 | 245,081 | ||||||||||
AdaptHealth LLC (c) |
||||||||||||
6.13%, 08/01/28 |
372 | 329,041 | ||||||||||
5.13%, 03/01/30 |
146 | 123,065 | ||||||||||
AHP Health Partners, Inc., 5.75%, 07/15/29 (c) |
1,951 | 1,433,400 | ||||||||||
Cano Health LLC, 6.25%, 10/01/28 (c) |
773 | 632,157 | ||||||||||
Centene Corp. |
||||||||||||
2.45%, 07/15/28 |
3,159 | 2,634,732 | ||||||||||
4.63%, 12/15/29 |
758 | 706,835 | ||||||||||
3.00%, 10/15/30 |
4,521 | 3,746,779 | ||||||||||
2.50%, 03/01/31 |
5,181 | 4,112,471 | ||||||||||
2.63%, 08/01/31 |
1,906 | 1,516,223 | ||||||||||
CHS/Community Health Systems, Inc. (c) |
||||||||||||
8.00%, 03/15/26 |
4,979 | 4,534,326 | ||||||||||
5.63%, 03/15/27 |
2,325 | 1,967,810 | ||||||||||
6.00%, 01/15/29 |
3,005 | 2,489,402 | ||||||||||
6.88%, 04/15/29 |
552 | 356,040 | ||||||||||
6.13%, 04/01/30 |
1,579 | 963,190 |
58 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Health Care Providers & Services (continued) |
||||||||||||
Encompass Health Corp. |
||||||||||||
4.50%, 02/01/28 |
USD | 348 | $ | 297,922 | ||||||||
4.75%, 02/01/30 |
1,972 | 1,652,615 | ||||||||||
4.63%, 04/01/31 |
1,035 | 838,065 | ||||||||||
HCA, Inc., 4.63%, 03/15/52 (c) |
1,545 | 1,236,096 | ||||||||||
Legacy LifePoint Health LLC (c) |
||||||||||||
6.75%, 04/15/25 |
1,050 | 1,014,940 | ||||||||||
4.38%, 02/15/27 |
420 | 359,864 | ||||||||||
LifePoint Health, Inc., 5.38%, 01/15/29 (c) |
887 | 651,945 | ||||||||||
Medline Borrower LP (c) |
||||||||||||
3.88%, 04/01/29 |
378 | 321,946 | ||||||||||
5.25%, 10/01/29 |
6,071 | 4,986,112 | ||||||||||
ModivCare, Inc., 5.88%, 11/15/25 (c) |
391 | 359,720 | ||||||||||
Molina Healthcare, Inc. (c) |
||||||||||||
4.38%, 06/15/28 |
1,756 | 1,568,584 | ||||||||||
3.88%, 11/15/30 |
1,259 | 1,076,168 | ||||||||||
3.88%, 05/15/32 |
1,191 | 998,756 | ||||||||||
Owens & Minor, Inc., 6.63%, 04/01/30 (c) |
727 | 664,093 | ||||||||||
Prime Healthcare Services, Inc., 7.25%, 11/01/25 (c) |
2,424 | 2,068,884 | ||||||||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/26 (c) |
433 | 421,093 | ||||||||||
Surgery Center Holdings, Inc. (c) |
||||||||||||
6.75%, 07/01/25 |
1,992 | 1,825,748 | ||||||||||
10.00%, 04/15/27 |
3,318 | 3,213,963 | ||||||||||
Teleflex, Inc., 4.63%, 11/15/27 |
294 | 271,215 | ||||||||||
Tenet Healthcare Corp. |
||||||||||||
4.63%, 07/15/24 |
567 | 544,167 | ||||||||||
4.63%, 09/01/24 (c) |
1,234 | 1,184,640 | ||||||||||
4.88%, 01/01/26 (c) |
2,046 | 1,882,320 | ||||||||||
6.25%, 02/01/27 (c) |
357 | 328,588 | ||||||||||
5.13%, 11/01/27 (c) |
677 | 609,300 | ||||||||||
4.63%, 06/15/28 (c) |
465 | 404,913 | ||||||||||
6.13%, 10/01/28 (c) |
596 | 510,045 | ||||||||||
4.25%, 06/01/29 (c) |
92 | 77,483 | ||||||||||
6.13%, 06/15/30 (c) |
1,412 | 1,302,683 | ||||||||||
|
|
|||||||||||
57,332,947 | ||||||||||||
Health Care Technology — 1.6% |
||||||||||||
CAB SELAS, 3.38%, 02/01/28 (a) |
EUR | 103 | 86,462 | |||||||||
Catalent Pharma Solutions, Inc. |
||||||||||||
5.00%, 07/15/27 (c) |
USD | 625 | 588,331 | |||||||||
2.38%, 03/01/28 (a) |
EUR | 332 | 283,568 | |||||||||
3.13%, 02/15/29 (c) |
USD | 931 | 763,823 | |||||||||
3.50%, 04/01/30 (c) |
2,168 | 1,768,935 | ||||||||||
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25 (c) |
5,723 | 5,572,428 | ||||||||||
Charles River Laboratories International, Inc. (c) |
||||||||||||
4.25%, 05/01/28 |
1,108 | 995,328 | ||||||||||
3.75%, 03/15/29 |
145 | 125,838 | ||||||||||
4.00%, 03/15/31 |
544 | 463,732 | ||||||||||
Chrome Bidco SASU, 3.50%, 05/31/28 (a) |
EUR | 232 | 198,951 | |||||||||
IQVIA, Inc. (c) |
||||||||||||
5.00%, 10/15/26 |
USD | 1,504 | 1,432,304 | |||||||||
5.00%, 05/15/27 |
1,011 | 956,507 | ||||||||||
Minerva Merger Sub, Inc., 6.50%, 02/15/30 (c) |
2,838 | 2,360,053 | ||||||||||
Syneos Health, Inc., 3.63%, 01/15/29 (c) |
3,097 | 2,622,628 | ||||||||||
|
|
|||||||||||
18,218,888 |
Security |
Par (000) |
Value |
||||||||||
Hotels, Restaurants & Leisure — 5.5% |
||||||||||||
1011778 BC ULC/New Red Finance, Inc. (c) |
||||||||||||
5.75%, 04/15/25 |
USD | 648 | $ | 651,775 | ||||||||
3.88%, 01/15/28 |
1,531 | 1,328,786 | ||||||||||
4.38%, 01/15/28 |
1,581 | 1,382,268 | ||||||||||
4.00%, 10/15/30 |
712 | 571,380 | ||||||||||
Accor SA, 0.70%, 12/07/27 (a) |
EUR | 158 | 67,982 | |||||||||
Affinity Gaming, 6.88%, 12/15/27 (c) |
USD | 108 | 90,724 | |||||||||
Boyd Gaming Corp. |
||||||||||||
4.75%, 12/01/27 |
931 | 842,555 | ||||||||||
4.75%, 06/15/31 (c) |
1,960 | 1,656,239 | ||||||||||
Boyne USA, Inc., 4.75%, 05/15/29 (c) |
1,576 | 1,364,721 | ||||||||||
Caesars Entertainment, Inc. (c) |
||||||||||||
6.25%, 07/01/25 |
6,083 | 5,862,370 | ||||||||||
8.13%, 07/01/27 |
6,466 | 6,247,773 | ||||||||||
4.63%, 10/15/29 |
3,366 | 2,617,065 | ||||||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25 (c) |
1,522 | 1,455,504 | ||||||||||
Carnival Corp., 7.63%, 03/01/26 (c) |
395 | 305,943 | ||||||||||
CCM Merger, Inc., 6.38%, 05/01/26 (c) |
915 | 833,041 | ||||||||||
CDI Escrow Issuer, Inc., 5.75%, 04/01/30 (c) |
3,368 | 3,064,880 | ||||||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op |
||||||||||||
5.50%, 05/01/25 (c) |
2,704 | 2,622,880 | ||||||||||
6.50%, 10/01/28 |
293 | 278,095 | ||||||||||
Churchill Downs, Inc. (c) |
||||||||||||
5.50%, 04/01/27 |
3,251 | 3,088,450 | ||||||||||
4.75%, 01/15/28 |
1,326 | 1,180,140 | ||||||||||
Cirsa Finance International SARL, 4.75%, 05/22/25 (a) |
EUR | 247 | 228,119 | |||||||||
Codere Finance 2 Luxembourg SA (a)(i) |
||||||||||||
(2% Cash or 10.75% PIK), 12.75%, 11/30/27 |
56 | 53,196 | ||||||||||
(8.00% Cash or 3.00% PIK), 11.00%, 09/30/26 |
137 | 148,976 | ||||||||||
CPUK Finance Ltd., 4.50%, 08/28/27 (a) |
GBP | 100 | 108,866 | |||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc. (c) |
||||||||||||
4.63%, 01/15/29 |
USD | 236 | 201,190 | |||||||||
6.75%, 01/15/30 |
1,341 | 1,029,218 | ||||||||||
Food Service Project SA, 5.50%, 01/21/27 (a) |
EUR | 163 | 146,475 | |||||||||
Gamma Bidco SpA, 6.25%, 07/15/25 (a) |
249 | 242,674 | ||||||||||
Hilton Domestic Operating Co., Inc. |
||||||||||||
5.38%, 05/01/25 (c) |
USD | 772 | 756,560 | |||||||||
5.75%, 05/01/28 (c) |
600 | 570,498 | ||||||||||
3.75%, 05/01/29 (c) |
411 | 348,589 | ||||||||||
4.88%, 01/15/30 |
1,528 | 1,380,930 | ||||||||||
4.00%, 05/01/31 (c) |
917 | 762,027 | ||||||||||
3.63%, 02/15/32 (c) |
426 | 338,404 | ||||||||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 |
240 | 226,112 | ||||||||||
IRB Holding Corp., 7.00%, 06/15/25 (c) |
794 | 777,207 | ||||||||||
Merlin Entertainments Ltd., 5.75%, 06/15/26 (c) |
484 | 441,652 | ||||||||||
MGM Resorts International |
||||||||||||
6.00%, 03/15/23 |
1,243 | 1,240,116 | ||||||||||
5.75%, 06/15/25 |
322 | 306,705 | ||||||||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29 (c) |
1,247 | 1,016,305 | ||||||||||
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance, Inc., 8.50%, 11/15/27 (c) |
1,332 | 1,398,067 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Hotels, Restaurants & Leisure (continued) |
||||||||||||
Powdr Corp., 6.00%, 08/01/25 (c) |
USD | 1,211 | $ | 1,201,918 | ||||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. (c) |
||||||||||||
5.63%, 09/01/29 |
576 | 410,089 | ||||||||||
5.88%, 09/01/31 |
636 | 441,392 | ||||||||||
Raptor Acquisition Corp./Raptor Co-Issuer LLC, 4.88%, 11/01/26 (c) |
973 | 851,375 | ||||||||||
Royal Caribbean Cruises Ltd., 5.38%, 07/15/27 (c) |
1,679 | 1,220,415 | ||||||||||
Scientific Games International, Inc. (c) |
||||||||||||
8.63%, 07/01/25 |
1,054 | 1,080,455 | ||||||||||
7.00%, 05/15/28 |
706 | 662,532 | ||||||||||
7.25%, 11/15/29 |
241 | 226,012 | ||||||||||
Sisal SpA, 7.00%, 07/31/23 (a) |
EUR | 69 | 71,486 | |||||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25 (c) |
USD | 1,518 | 1,536,717 | |||||||||
Station Casinos LLC (c) |
||||||||||||
4.50%, 02/15/28 |
1,147 | 968,768 | ||||||||||
4.63%, 12/01/31 |
1,433 | 1,117,740 | ||||||||||
Stonegate Pub Co. Financing PLC (a) |
||||||||||||
8.00%, 07/13/25 |
GBP | 136 | 151,481 | |||||||||
8.25%, 07/31/25 |
246 | 273,477 | ||||||||||
Vail Resorts, Inc., 6.25%, 05/15/25 (c) |
USD | 811 | 810,002 | |||||||||
Wyndham Hotels & Resorts, Inc., 4.38%, 08/15/28 (c) |
811 | 709,349 | ||||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27 (c) |
1,353 | 1,158,831 | ||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. (c) |
||||||||||||
7.75%, 04/15/25 |
1,164 | 1,132,875 | ||||||||||
5.13%, 10/01/29 |
2,617 | 2,061,149 | ||||||||||
Yum! Brands, Inc. |
||||||||||||
4.75%, 01/15/30 (c) |
238 | 215,985 | ||||||||||
5.35%, 11/01/43 |
30 | 24,863 | ||||||||||
|
|
|||||||||||
63,561,368 | ||||||||||||
Household Durables — 1.4% |
||||||||||||
Ashton Woods USA LLC/Ashton Woods Finance Co. (c) |
||||||||||||
6.63%, 01/15/28 |
406 | 345,100 | ||||||||||
4.63%, 08/01/29 |
547 | 410,250 | ||||||||||
4.63%, 04/01/30 |
777 | 570,590 | ||||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC (c) |
||||||||||||
5.00%, 06/15/29 |
1,154 | 872,505 | ||||||||||
4.88%, 02/15/30 |
1,693 | 1,229,964 | ||||||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25 (c) |
1,328 | 1,174,059 | ||||||||||
Installed Building Products, Inc., 5.75%, 02/01/28 (c) |
723 | 642,341 | ||||||||||
K Hovnanian Enterprises, Inc. (c) |
||||||||||||
10.00%, 11/15/25 |
359 | 380,604 | ||||||||||
7.75%, 02/15/26 |
1,893 | 1,855,140 | ||||||||||
KB Home, 7.25%, 07/15/30 |
328 | 310,792 | ||||||||||
Mattamy Group Corp. (c) |
||||||||||||
5.25%, 12/15/27 |
830 | 677,797 | ||||||||||
4.63%, 03/01/30 |
679 | 496,223 | ||||||||||
Meritage Homes Corp., 5.13%, 06/06/27 |
286 | 261,787 | ||||||||||
NCR Corp. (c) |
||||||||||||
5.75%, 09/01/27 |
234 | 207,682 | ||||||||||
5.00%, 10/01/28 |
563 | 477,366 | ||||||||||
5.13%, 04/15/29 |
739 | 625,002 | ||||||||||
6.13%, 09/01/29 |
815 | 704,859 | ||||||||||
Nobel Bidco BV, 3.13%, 06/15/28 (a) |
EUR | 100 | 70,213 |
Security |
Par (000) |
Value |
||||||||
Household Durables (continued) |
||||||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29 (c) |
USD | 1,738 | $ | 1,168,805 | ||||||
Taylor Morrison Communities, Inc. (c) |
||||||||||
5.88%, 06/15/27 |
1,377 | 1,269,195 | ||||||||
5.13%, 08/01/30 |
336 | 279,043 | ||||||||
Tempur Sealy International, Inc. (c) |
||||||||||
4.00%, 04/15/29 |
1,291 | 1,039,952 | ||||||||
3.88%, 10/15/31 |
504 | 378,000 | ||||||||
Tri Pointe Homes, Inc., 5.70%, 06/15/28 |
291 | 251,128 | ||||||||
|
|
|||||||||
15,698,397 | ||||||||||
Household Products — 0.0% |
||||||||||
Energizer Holdings, Inc., 6.50%, 12/31/27 (c) |
610 | 534,513 | ||||||||
|
|
|||||||||
Independent Power and Renewable Electricity Producers — 0.7% |
||||||||||
Calpine Corp. (c) |
||||||||||
5.25%, 06/01/26 |
136 | 129,200 | ||||||||
4.50%, 02/15/28 |
1,198 | 1,087,637 | ||||||||
5.13%, 03/15/28 |
2,597 | 2,286,139 | ||||||||
4.63%, 02/01/29 |
342 | 284,636 | ||||||||
5.00%, 02/01/31 |
311 | 251,422 | ||||||||
3.75%, 03/01/31 |
15 | 12,201 | ||||||||
Clearway Energy Operating LLC (c) |
||||||||||
4.75%, 03/15/28 |
690 | 620,780 | ||||||||
3.75%, 01/15/32 |
1,395 | 1,105,537 | ||||||||
Cullinan Holdco Scsp, 4.63%, 10/15/26 (a) |
EUR | 100 | 84,458 | |||||||
NRG Energy, Inc. |
||||||||||
5.75%, 01/15/28 |
USD | 14 | 12,725 | |||||||
5.25%, 06/15/29 (c) |
163 | 145,478 | ||||||||
3.63%, 02/15/31 (c) |
1,329 | 1,041,923 | ||||||||
3.88%, 02/15/32 (c) |
746 | 592,535 | ||||||||
TerraForm Power Operating LLC, 4.75%, 01/15/30 (c) |
1,053 | 901,884 | ||||||||
|
|
|||||||||
8,556,555 | ||||||||||
Insurance — 2.6% |
||||||||||
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29 (c) |
1,205 | 943,262 | ||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer (c) |
||||||||||
4.25%, 10/15/27 |
6,469 | 5,599,375 | ||||||||
6.75%, 10/15/27 |
8,981 | 7,969,560 | ||||||||
5.88%, 11/01/29 |
6,477 | 5,374,679 | ||||||||
AmWINS Group, Inc., 4.88%, 06/30/29 (c) |
1,494 | 1,223,471 | ||||||||
Ardonagh Midco 2 PLC, (11.50% Cash or 12.75% PIK), 11.50%, 01/15/27 (c)(i) |
455 | 474,111 | ||||||||
Galaxy Bidco Ltd., 6.50%, 07/31/26 (a) |
GBP | 200 | 222,766 | |||||||
GTCR AP Finance, Inc., 8.00%, 05/15/27 (c) |
USD | 1,723 | 1,612,987 | |||||||
HUB International Ltd., 7.00%, 05/01/26 (c) |
6,615 | 6,220,746 | ||||||||
Liberty Mutual Group, Inc., (5 year EUR Swap + 3.70%), 3.63%, 05/23/59 (a)(b) |
EUR | 100 | 94,182 | |||||||
Ryan Specialty Group LLC, 4.38%, 02/01/30 (c) |
USD | 711 | 618,570 | |||||||
|
|
|||||||||
30,353,709 | ||||||||||
Interactive Media & Services — 0.7% |
||||||||||
Arches Buyer, Inc., 4.25%, 06/01/28 (c) |
562 | 457,583 | ||||||||
Cablevision Lightpath LLC (c) |
||||||||||
3.88%, 09/15/27 |
1,066 | 882,115 | ||||||||
5.63%, 09/15/28 |
1,201 | 939,494 | ||||||||
Iliad SA, 2.38%, 06/17/26 (a) |
EUR | 100 | 91,696 | |||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc. (c) |
||||||||||
4.75%, 04/30/27 |
USD | 1,783 | 1,468,393 | |||||||
6.00%, 02/15/28 |
1,115 | 801,253 |
60 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Interactive Media & Services (continued) |
||||||||||||
Northwest Fiber LLC/Northwest Fiber Finance |
||||||||||||
Sub, Inc. (c) (continued) |
||||||||||||
10.75%, 06/01/28 |
USD | 485 | $ | 431,548 | ||||||||
Twitter, Inc. (c) |
||||||||||||
3.88%, 12/15/27 |
1,922 | 1,811,975 | ||||||||||
5.00%, 03/01/30 |
844 | 800,745 | ||||||||||
United Group BV (a) |
||||||||||||
4.88%, 07/01/24 |
EUR | 199 | 189,358 | |||||||||
4.00%, 11/15/27 |
324 | 257,151 | ||||||||||
4.63%, 08/15/28 |
124 | 99,215 | ||||||||||
|
|
|||||||||||
8,230,526 | ||||||||||||
Internet & Direct Marketing Retail — 0.0% |
||||||||||||
Very Group Funding PLC, 6.50%, 08/01/26 (a) |
GBP | 224 | 206,775 | |||||||||
|
|
|||||||||||
Internet Software & Services — 1.5% |
||||||||||||
ANGI Group LLC, 3.88%, 08/15/28 (c) |
USD | 1,361 | 1,036,263 | |||||||||
Endurance International Group Holdings, Inc., 6.00%, 02/15/29 (c) |
614 | 443,069 | ||||||||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc. (c) |
||||||||||||
5.25%, 12/01/27 |
1,113 | 1,018,395 | ||||||||||
3.50%, 03/01/29 |
849 | 715,783 | ||||||||||
Match Group Holdings II LLC (c) |
||||||||||||
4.63%, 06/01/28 |
813 | 737,066 | ||||||||||
5.63%, 02/15/29 |
318 | 297,330 | ||||||||||
4.13%, 08/01/30 |
181 | 151,154 | ||||||||||
3.63%, 10/01/31 |
870 | 685,125 | ||||||||||
Uber Technologies, Inc. |
||||||||||||
7.50%, 05/15/25 (c) |
2,820 | 2,793,126 | ||||||||||
0.00%, 12/15/25 (l) |
1,757 | 1,401,590 | ||||||||||
8.00%, 11/01/26 (c) |
1,878 | 1,869,549 | ||||||||||
7.50%, 09/15/27 (c) |
2,655 | 2,572,111 | ||||||||||
6.25%, 01/15/28 (c) |
1,356 | 1,254,083 | ||||||||||
4.50%, 08/15/29 (c) |
2,836 | 2,332,610 | ||||||||||
|
|
|||||||||||
17,307,254 | ||||||||||||
IT Services — 2.2% |
||||||||||||
Ahead DB Holdings LLC, 6.63%, 05/01/28 (c) |
886 | 734,496 | ||||||||||
Booz Allen Hamilton, Inc. (c) |
||||||||||||
3.88%, 09/01/28 |
1,374 | 1,215,990 | ||||||||||
4.00%, 07/01/29 |
2,334 | 2,035,084 | ||||||||||
CA Magnum Holdings, 5.38%, 10/31/26 (c) |
2,652 | 2,293,980 | ||||||||||
Camelot Finance SA, 4.50%, 11/01/26 (c) |
2,737 | 2,496,415 | ||||||||||
Condor Merger Sub, Inc., 7.38%, 02/15/30 (c) |
3,136 | 2,548,847 | ||||||||||
Dun & Bradstreet Corp., 5.00%, 12/15/29 (c) |
2,175 | 1,878,656 | ||||||||||
Fair Isaac Corp., 4.00%, 06/15/28 (c) |
1,959 | 1,735,361 | ||||||||||
Gartner, Inc. (c) |
||||||||||||
4.50%, 07/01/28 |
1,628 | 1,494,838 | ||||||||||
3.63%, 06/15/29 |
1,022 | 885,430 | ||||||||||
3.75%, 10/01/30 |
533 | 453,716 | ||||||||||
KBR, Inc., 4.75%, 09/30/28 (c) |
1,050 | 925,405 | ||||||||||
La Financiere Atalian SASU, 5.13%, 05/15/25 (a) |
EUR | 300 | 239,758 | |||||||||
Science Applications International Corp., 4.88%, 04/01/28 (c) |
USD | 1,024 | 954,880 | |||||||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 5.75%, 06/01/25 (c) |
1,117 | 1,050,801 |
Security |
Par (000) |
Value |
||||||||
IT Services (continued) |
||||||||||
Twilio, Inc., 3.88%, 03/15/31 |
USD | 1,829 | $ | 1,504,846 | ||||||
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29 (c) |
3,017 | 2,527,167 | ||||||||
|
|
|||||||||
24,975,670 | ||||||||||
Leisure Products — 0.3% |
||||||||||
Mattel, Inc. |
||||||||||
3.75%, 04/01/29 (c) |
569 | 511,300 | ||||||||
6.20%, 10/01/40 |
1,016 | 970,280 | ||||||||
5.45%, 11/01/41 |
1,827 | 1,603,654 | ||||||||
|
|
|||||||||
3,085,234 | ||||||||||
Machinery — 1.3% |
||||||||||
ATS Automation Tooling Systems, Inc., 4.13%, 12/15/28 (c) |
553 | 461,755 | ||||||||
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25 (c)(i) |
1,662 | 1,612,140 | ||||||||
IMA Industria Macchine Automatiche SPA, 3.75%, 01/15/28 (a) |
EUR | 123 | 103,153 | |||||||
Madison IAQ LLC, 5.88%, 06/30/29 (c) |
USD | 1,608 | 1,232,243 | |||||||
Mueller Water Products, Inc., 4.00%, 06/15/29 (c) |
565 | 492,872 | ||||||||
Novafives SAS, 5.00%, 06/15/25 (a) |
EUR | 100 | 68,117 | |||||||
OT Merger Corp., 7.88%, 10/15/29 (c) |
USD | 621 | 356,671 | |||||||
Renk AG/Frankfurt am Main, 5.75%, 07/15/25 (a) |
EUR | 229 | 218,382 | |||||||
Schenck Process Holding GmbH/Darmstadt, 5.38%, 06/15/23 (a) |
100 | 100,819 | ||||||||
Stevens Holding Co., Inc., 6.13%, 10/01/26 (c) |
USD | 813 | 782,512 | |||||||
Terex Corp., 5.00%, 05/15/29 (c) |
1,766 | 1,501,100 | ||||||||
Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26 (c) |
3,261 | 2,997,511 | ||||||||
TK Elevator Holdco GmbH |
||||||||||
6.63%, 07/15/28 (a) |
EUR | 90 | 80,442 | |||||||
7.63%, 07/15/28 (c) |
USD | 1,284 | 1,152,390 | |||||||
TK Elevator Midco GmbH, 4.38%, 07/15/27 (a) |
EUR | 273 | 246,465 | |||||||
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27 (c) |
USD | 4,038 | 3,600,139 | |||||||
|
|
|||||||||
15,006,711 | ||||||||||
Media — 13.4% |
||||||||||
Altice Financing SA |
||||||||||
2.25%, 01/15/25 (a) |
EUR | 170 | 155,900 | |||||||
5.00%, 01/15/28 (c) |
USD | 1,693 | 1,364,287 | |||||||
4.25%, 08/15/29 (a) |
EUR | 101 | 79,647 | |||||||
5.75%, 08/15/29 (c) |
USD | 5,301 | 4,254,052 | |||||||
Altice France Holding SA (c) |
||||||||||
8.00%, 05/15/27 |
EUR | 100 | 85,926 | |||||||
10.50%, 05/15/27 |
USD | 10,328 | 8,666,638 | |||||||
AMC Networks, Inc. |
||||||||||
4.75%, 08/01/25 |
1,216 | 1,132,753 | ||||||||
4.25%, 02/15/29 |
684 | 554,170 | ||||||||
Block Communications, Inc., 4.88%, 03/01/28 (c) |
791 | 668,395 | ||||||||
Cable One, Inc. |
||||||||||
1.13%, 03/15/28 |
1,164 | 975,432 | ||||||||
4.00%, 11/15/30 (c) |
1,040 | 854,339 | ||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. |
||||||||||
5.13%, 05/01/27 (c) |
621 | 586,069 | ||||||||
5.00%, 02/01/28 (c) |
670 | 618,209 | ||||||||
5.38%, 06/01/29 (c) |
2,119 | 1,894,047 | ||||||||
4.75%, 03/01/30 (c) |
1,542 | 1,318,796 | ||||||||
4.50%, 08/15/30 (c) |
2,162 | 1,795,061 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Media (continued) |
||||||||||
CCO Holdings LLC/CCO Holdings Capital Corp. (continued) |
||||||||||
4.25%, 02/01/31 (c) |
USD | 1,782 | $ | 1,452,330 | ||||||
4.75%, 02/01/32 (c) |
2,979 | 2,439,205 | ||||||||
4.50%, 05/01/32 |
1,367 | 1,106,860 | ||||||||
4.50%, 06/01/33 (c) |
1,587 | 1,250,588 | ||||||||
4.25%, 01/15/34 (c) |
5,012 | 3,871,770 | ||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital |
||||||||||
5.25%, 04/01/53 |
1,849 | 1,562,430 | ||||||||
5.50%, 04/01/63 |
1,227 | 1,042,212 | ||||||||
Clear Channel International BV, 6.63%, 08/01/25 (c) |
1,965 | 1,827,450 | ||||||||
Clear Channel Outdoor Holdings, Inc. (c) |
||||||||||
5.13%, 08/15/27 |
5,413 | 4,570,358 | ||||||||
7.75%, 04/15/28 |
4,659 | 3,389,749 | ||||||||
7.50%, 06/01/29 |
4,136 | 2,974,032 | ||||||||
CMG Media Corp., 8.88%, 12/15/27 (c) |
3,833 | 3,028,108 | ||||||||
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26 (c) |
8,561 | 7,693,171 | ||||||||
CSC Holdings LLC |
||||||||||
5.25%, 06/01/24 |
859 | 803,165 | ||||||||
5.75%, 01/15/30 (c) |
1,398 | 1,017,087 | ||||||||
4.13%, 12/01/30 (c) |
2,781 | 2,169,180 | ||||||||
4.63%, 12/01/30 (c) |
1,430 | 956,298 | ||||||||
3.38%, 02/15/31 (c) |
1,353 | 1,000,286 | ||||||||
4.50%, 11/15/31 (c) |
2,998 | 2,311,908 | ||||||||
Directv Financing LLC/Directv Financing Co.- Obligor, Inc., 5.88%, 08/15/27 (c) |
2,469 | 2,106,230 | ||||||||
DISH DBS Corp. |
||||||||||
5.88%, 07/15/22 |
1,734 | 1,724,168 | ||||||||
5.00%, 03/15/23 |
1,232 | 1,172,581 | ||||||||
5.25%, 12/01/26 (c) |
4,721 | 3,700,509 | ||||||||
5.75%, 12/01/28 (c) |
4,408 | 3,263,727 | ||||||||
5.13%, 06/01/29 |
2,490 | 1,513,024 | ||||||||
DISH Network Corp., 3.38%, 08/15/26 |
780 | 526,890 | ||||||||
Frontier Communications Holdings LLC (c) |
||||||||||
5.88%, 10/15/27 |
2,183 | 1,962,741 | ||||||||
5.00%, 05/01/28 |
1,786 | 1,518,100 | ||||||||
6.75%, 05/01/29 |
2,102 | 1,728,895 | ||||||||
6.00%, 01/15/30 |
1,437 | 1,105,700 | ||||||||
GCI LLC, 4.75%, 10/15/28 (c) |
874 | 757,276 | ||||||||
Iliad Holding SASU (c) |
||||||||||
6.50%, 10/15/26 |
2,836 | 2,552,315 | ||||||||
7.00%, 10/15/28 |
1,741 | 1,514,558 | ||||||||
Kaixo Bondsco Telecom SA, 5.13%, 09/30/29 (a) |
EUR | 131 | 103,991 | |||||||
LCPR Senior Secured Financing DAC (c) |
||||||||||
6.75%, 10/15/27 |
USD | 1,657 | 1,545,699 | |||||||
5.13%, 07/15/29 |
1,939 | 1,619,065 | ||||||||
Liberty Broadband Corp. (c) |
||||||||||
1.25%, 09/30/50 |
2,444 | 2,282,696 | ||||||||
2.75%, 09/30/50 |
4,421 | 4,205,173 | ||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23 (c)(i)(m) |
1,252 | 679,498 | ||||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29 (c) |
3,863 | 3,013,140 | ||||||||
Live Nation Entertainment, Inc. (c) |
||||||||||
4.88%, 11/01/24 |
134 | 127,970 | ||||||||
6.50%, 05/15/27 |
4,178 | 4,108,729 | ||||||||
4.75%, 10/15/27 |
1,012 | 897,158 |
Security |
Par (000) |
Value |
||||||||
Media (continued) |
||||||||||
Live Nation Entertainment, Inc. (c) (continued) 3.75%, 01/15/28 |
USD | 1,318 | $ | 1,136,775 | ||||||
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (a) |
EUR | 251 | 219,559 | |||||||
Magallanes, Inc. (c) |
||||||||||
5.14%, 03/15/52 |
USD | 6,425 | 5,392,824 | |||||||
5.39%, 03/15/62 |
3,278 | 2,742,042 | ||||||||
Midcontinent Communications/Midcontinent Finance Corp., 5.38%, 08/15/27 (c) |
972 | 894,240 | ||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp. (c) |
||||||||||
5.00%, 08/15/27 |
1,904 | 1,663,620 | ||||||||
4.25%, 01/15/29 |
698 | 556,041 | ||||||||
Radiate Holdco LLC/Radiate Finance, Inc. (c) |
||||||||||
4.50%, 09/15/26 |
2,818 | 2,429,905 | ||||||||
6.50%, 09/15/28 |
6,229 | 4,814,238 | ||||||||
Sable International Finance Ltd., 5.75%, 09/07/27 (c) |
539 | 494,047 | ||||||||
Scripps Escrow II, Inc., 3.88%, 01/15/29 (c) |
87 | 72,909 | ||||||||
Sinclair Television Group, Inc., 4.13%, 12/01/30 (c) |
2,814 | 2,231,966 | ||||||||
Sirius XM Radio, Inc. (c) |
||||||||||
3.13%, 09/01/26 |
2,692 | 2,401,883 | ||||||||
5.00%, 08/01/27 |
653 | 605,671 | ||||||||
4.00%, 07/15/28 |
927 | 801,855 | ||||||||
5.50%, 07/01/29 |
88 | 80,190 | ||||||||
4.13%, 07/01/30 |
257 | 214,644 | ||||||||
3.88%, 09/01/31 |
1,821 | 1,449,971 | ||||||||
Stagwell Global LLC, 5.63%, 08/15/29 (c) |
553 | 444,352 | ||||||||
Summer BC Holdco A SARL, 9.25%, 10/31/27 (a) |
EUR | 180 | 145,321 | |||||||
Summer BC Holdco B SARL, 5.75%, 10/31/26 (a) |
300 | 273,875 | ||||||||
Summer BidCo BV, (9.00% Cash or 9.75% PIK), 9.00%, 11/15/25 (a)(i) |
151 | 127,809 | ||||||||
Tele Columbus AG, 3.88%, 05/02/25 (a) |
285 | 250,192 | ||||||||
Telenet Finance Luxembourg Notes SARL, 5.50%, 03/01/28 (c) |
USD | 2,000 | 1,764,800 | |||||||
United Group BV, 5.25%, 02/01/30 (a) |
EUR | 100 | 77,275 | |||||||
Univision Communications, Inc. (c) |
||||||||||
5.13%, 02/15/25 |
USD | 800 | 752,800 | |||||||
6.63%, 06/01/27 |
1,018 | 969,248 | ||||||||
7.38%, 06/30/30 |
645 | 630,488 | ||||||||
UPC Broadband Finco BV, 4.88%, 07/15/31 (c) |
2,494 | 2,032,610 | ||||||||
Videotron Ltd., 3.63%, 06/15/29 (c) |
1,518 | 1,232,252 | ||||||||
Virgin Media Finance PLC, 3.75%, 07/15/30 (a) |
EUR | 142 | 110,654 | |||||||
Virgin Media Secured Finance PLC, 4.50%, 08/15/30 (c) |
USD | 550 | 451,941 | |||||||
Virgin Media Vendor Financing Notes III DAC, 4.88%, 07/15/28 (a) |
GBP | 100 | 97,384 | |||||||
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (c) |
USD | 2,360 | 1,952,826 | |||||||
VZ Secured Financing BV, 3.50%, 01/15/32 (a) |
EUR | 170 | 133,687 | |||||||
WMG Acquisition Corp. |
||||||||||
3.88%, 07/15/30 (c) |
USD | 655 | 544,665 | |||||||
2.25%, 08/15/31 (a) |
EUR | 141 | 112,188 | |||||||
Ziggo Bonds Co. BV (c) |
||||||||||
6.00%, 01/15/27 |
USD | 291 | 257,535 | |||||||
5.13%, 02/28/30 |
868 | 680,869 | ||||||||
Ziggo BV, 4.88%, 01/15/30 (c) |
1,165 | 987,852 | ||||||||
|
|
|||||||||
155,432,744 |
62 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Metals & Mining — 2.9% |
||||||||||||
Allegheny Technologies, Inc. |
||||||||||||
4.88%, 10/01/29 |
USD | 550 | $ | 438,620 | ||||||||
5.13%, 10/01/31 |
1,063 | 814,302 | ||||||||||
Arconic Corp. (c) |
||||||||||||
6.00%, 05/15/25 |
1,484 | 1,447,351 | ||||||||||
6.13%, 02/15/28 |
2,032 | 1,897,441 | ||||||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29 (c) |
4,781 | 4,436,507 | ||||||||||
Carpenter Technology Corp. |
||||||||||||
6.38%, 07/15/28 |
168 | 149,958 | ||||||||||
7.63%, 03/15/30 |
1,007 | 924,724 | ||||||||||
Commercial Metals Co. |
||||||||||||
4.13%, 01/15/30 |
372 | 313,225 | ||||||||||
4.38%, 03/15/32 |
398 | 325,991 | ||||||||||
Constellium SE (c) |
||||||||||||
5.88%, 02/15/26 |
1,569 | 1,464,897 | ||||||||||
5.63%, 06/15/28 |
1,851 | 1,656,168 | ||||||||||
3.75%, 04/15/29 |
2,891 | 2,292,773 | ||||||||||
ERO Copper Corp., 6.50%, 02/15/30 (c) |
829 | 665,272 | ||||||||||
FMG Resources August 2006 Pty. Ltd., 6.13%, 04/15/32 (c) |
2,088 | 1,879,200 | ||||||||||
Joseph T Ryerson & Son, Inc., 8.50%, 08/01/28 (c) |
121 | 124,945 | ||||||||||
Kaiser Aluminum Corp. (c) |
||||||||||||
4.63%, 03/01/28 |
1,190 | 990,699 | ||||||||||
4.50%, 06/01/31 |
1,624 | 1,229,172 | ||||||||||
Mineral Resources Ltd. (c) |
||||||||||||
8.00%, 11/01/27 |
640 | 624,000 | ||||||||||
8.50%, 05/01/30 |
651 | 641,235 | ||||||||||
New Gold, Inc., 7.50%, 07/15/27 (c) |
2,345 | 2,040,150 | ||||||||||
Novelis Corp. (c) |
||||||||||||
3.25%, 11/15/26 |
2,729 | 2,306,755 | ||||||||||
4.75%, 01/30/30 |
2,681 | 2,228,394 | ||||||||||
3.88%, 08/15/31 |
2,808 | 2,162,694 | ||||||||||
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (a) |
EUR | 100 | 82,400 | |||||||||
Roller Bearing Co. of America, Inc., 4.38%, 10/15/29 (c) |
USD | 659 | 560,754 | |||||||||
thyssenkrupp AG, 2.88%, 02/22/24 (a) |
EUR | 100 | 100,516 | |||||||||
U.S. Steel Corp., 6.88%, 03/01/29 |
USD | 1,799 | 1,569,789 | |||||||||
Vedanta Resources Finance II PLC, 8.95%, 03/11/25 (c) |
577 | 455,830 | ||||||||||
|
|
|||||||||||
33,823,762 | ||||||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.0% |
||||||||||||
Starwood Property Trust, Inc., 5.50%, 11/01/23 (c) |
157 | 155,234 | ||||||||||
|
|
|||||||||||
Multiline Retail — 0.4% |
||||||||||||
Bath & Body Works, Inc. |
||||||||||||
6.88%, 11/01/35 |
2,391 | 1,942,687 | ||||||||||
6.75%, 07/01/36 |
384 | 307,162 | ||||||||||
Dufry One BV, 2.50%, 10/15/24 (a) |
EUR | 100 | 94,700 | |||||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 (c) |
USD | 2,132 | 1,964,809 | |||||||||
|
|
|||||||||||
4,309,358 | ||||||||||||
Offshore Drilling & Other Services (c) — 0.1% |
||||||||||||
Entegris, Inc. |
||||||||||||
4.38%, 04/15/28 |
1,073 | 946,922 | ||||||||||
3.63%, 05/01/29 |
190 | 158,884 | ||||||||||
|
|
|||||||||||
1,105,806 |
Security |
Par (000) |
Value |
||||||||||
Oil, Gas & Consumable Fuels — 15.6% |
||||||||||||
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26 (c) |
USD | 2,715 | $ | 2,638,301 | ||||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp. (c) |
||||||||||||
5.75%, 03/01/27 |
545 | 506,850 | ||||||||||
5.38%, 06/15/29 |
1,137 | 1,018,252 | ||||||||||
Antero Resources Corp., 7.63%, 02/01/29 (c) |
701 | 713,106 | ||||||||||
Apache Corp. |
||||||||||||
4.25%, 01/15/30 |
1,185 | 1,050,206 | ||||||||||
5.10%, 09/01/40 |
1,697 | 1,432,913 | ||||||||||
5.25%, 02/01/42 |
359 | 300,297 | ||||||||||
5.35%, 07/01/49 |
604 | 477,244 | ||||||||||
Arcosa, Inc., 4.38%, 04/15/29 (c) |
1,988 | 1,686,926 | ||||||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp. (c) |
||||||||||||
9.00%, 11/01/27 |
3,527 | 4,427,031 | ||||||||||
5.88%, 06/30/29 |
1,004 | 883,520 | ||||||||||
Buckeye Partners LP |
||||||||||||
4.13%, 03/01/25 (c) |
34 | 31,478 | ||||||||||
5.85%, 11/15/43 |
816 | 579,360 | ||||||||||
5.60%, 10/15/44 |
553 | 385,092 | ||||||||||
Callon Petroleum Co. |
||||||||||||
6.13%, 10/01/24 |
534 | 542,224 | ||||||||||
9.00%, 04/01/25 (c) |
3,648 | 3,866,880 | ||||||||||
6.38%, 07/01/26 |
655 | 604,237 | ||||||||||
8.00%, 08/01/28 (c) |
3,400 | 3,266,040 | ||||||||||
7.50%, 06/15/30 |
2,743 | 2,523,944 | ||||||||||
Cellnex Telecom SA (a) |
||||||||||||
1.75%, 10/23/30 |
EUR | 100 | 74,568 | |||||||||
Series CLNX, 0.75%, 11/20/31 |
900 | 642,302 | ||||||||||
Centennial Resource Production LLC, 6.88%, 04/01/27 (c) |
USD | 1,222 | 1,160,454 | |||||||||
Central Parent, Inc./Central Merger Sub, Inc., 7.25%, 06/15/29. |
2,747 | 2,643,987 | ||||||||||
Cheniere Energy Partners LP |
||||||||||||
4.50%, 10/01/29 |
2,722 | 2,429,929 | ||||||||||
4.00%, 03/01/31 |
3,130 | 2,661,439 | ||||||||||
3.25%, 01/31/32 (c) |
3,011 | 2,371,162 | ||||||||||
Cheniere Energy, Inc., 4.63%, 10/15/28 |
9,106 | 8,200,590 | ||||||||||
Chesapeake Energy Corp. (c) |
||||||||||||
5.88%, 02/01/29 |
96 | 90,528 | ||||||||||
6.75%, 04/15/29 |
2,933 | 2,836,299 | ||||||||||
CITGO Petroleum Corp. (c) |
||||||||||||
7.00%, 06/15/25 |
1,453 | 1,405,777 | ||||||||||
6.38%, 06/15/26 |
1,302 | 1,201,967 | ||||||||||
Civitas Resources, Inc., 5.00%, 10/15/26 (c) |
477 | 428,108 | ||||||||||
CNX Midstream Partners LP, 4.75%, 04/15/30 (c) |
502 | 421,680 | ||||||||||
CNX Resources Corp., 6.00%, 01/15/29 (c) |
518 | 483,916 | ||||||||||
Colgate Energy Partners III LLC (c) |
||||||||||||
7.75%, 02/15/26 |
647 | 615,061 | ||||||||||
5.88%, 07/01/29 |
1,986 | 1,740,232 | ||||||||||
Comstock Resources, Inc. (c) |
||||||||||||
6.75%, 03/01/29 |
2,456 | 2,199,176 | ||||||||||
5.88%, 01/15/30 |
2,798 | 2,406,280 | ||||||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31 (c) |
4,645 | 3,955,403 | ||||||||||
Crescent Energy Finance LLC, 7.25%, 05/01/26 (c) |
3,339 | 3,038,490 | ||||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. (c) |
||||||||||||
5.63%, 05/01/27 |
423 | 376,470 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Oil, Gas & Consumable Fuels (continued) |
||||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. (c) (continued) |
||||||||||
6.00%, 02/01/29 |
USD | 334 | $ | 291,442 | ||||||
8.00%, 04/01/29 |
534 | 495,958 | ||||||||
CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25 (c) |
3,952 | 3,714,880 | ||||||||
DCP Midstream Operating LP |
||||||||||
6.45%, 11/03/36 (c) |
920 | 901,600 | ||||||||
6.75%, 09/15/37 (c) |
2,031 | 1,931,989 | ||||||||
5.60%, 04/01/44 |
22 | 17,779 | ||||||||
Diamondback Energy, Inc., 4.25%, 03/15/52 |
873 | 724,028 | ||||||||
DT Midstream, Inc. (c) |
||||||||||
4.13%, 06/15/29 |
2,325 | 1,970,437 | ||||||||
4.38%, 06/15/31 |
2,745 | 2,298,937 | ||||||||
Dycom Industries, Inc., 4.50%, 04/15/29 (c) |
564 | 492,434 | ||||||||
Earthstone Energy Holdings LLC, 8.00%, 04/15/27 (c) |
1,494 | 1,413,697 | ||||||||
eG Global Finance PLC |
||||||||||
6.75%, 02/07/25 (c) |
1,613 | 1,520,874 | ||||||||
6.25%, 10/30/25 (a) |
EUR | 463 | 434,828 | |||||||
8.50%, 10/30/25 (c) |
USD | 1,586 | 1,536,437 | |||||||
EG Global Finance PLC, 4.38%, 02/07/25 (a) |
EUR | 133 | 124,046 | |||||||
Energy Transfer LP, Series H, (5 year CMT + 5.69%), 6.50% (b)(k) |
USD | 3,372 | 2,980,570 | |||||||
EnLink Midstream LLC |
||||||||||
5.63%, 01/15/28 (c) |
1,302 | 1,194,282 | ||||||||
5.38%, 06/01/29 |
1,561 | 1,366,199 | ||||||||
EnLink Midstream Partners LP |
||||||||||
4.40%, 04/01/24 |
1,638 | 1,598,926 | ||||||||
4.15%, 06/01/25 |
108 | 100,534 | ||||||||
4.85%, 07/15/26 |
297 | 273,983 | ||||||||
5.60%, 04/01/44 |
1,433 | 1,014,870 | ||||||||
5.05%, 04/01/45 |
220 | 148,775 | ||||||||
5.45%, 06/01/47 |
246 | 174,104 | ||||||||
EQM Midstream Partners LP |
||||||||||
6.00%, 07/01/25 (c) |
492 | 471,671 | ||||||||
4.13%, 12/01/26 |
361 | 311,814 | ||||||||
6.50%, 07/01/27 (c) |
1,929 | 1,793,585 | ||||||||
4.50%, 01/15/29 (c) |
147 | 119,346 | ||||||||
7.50%, 06/01/30 |
421 | 404,432 | ||||||||
4.75%, 01/15/31 (c) |
1,748 | 1,394,030 | ||||||||
Genesis Energy LP/Genesis Energy Finance Corp. |
||||||||||
6.50%, 10/01/25 |
350 | 322,875 | ||||||||
7.75%, 02/01/28 |
188 | 162,629 | ||||||||
Gulfport Energy Corp., 8.00%, 05/17/26 (c) |
152 | 149,527 | ||||||||
Harbour Energy PLC, 5.50%, 10/15/26 (c) |
420 | 377,475 | ||||||||
Harvest Midstream I LP, 7.50%, 09/01/28 (c) |
315 | 295,858 | ||||||||
Hess Midstream Operations LP, 4.25%, 02/15/30 (c) |
1,313 | 1,099,592 | ||||||||
Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 11/01/28 (c) |
262 | 246,938 | ||||||||
ITT Holdings LLC, 6.50%, 08/01/29 (c) |
1,889 | 1,511,200 | ||||||||
Kinetik Holdings LP, 5.88%, 06/15/30 |
2,774 | 2,642,554 | ||||||||
MasTec, Inc., 4.50%, 08/15/28 (c) |
951 | 855,600 | ||||||||
Matador Resources Co., 5.88%, 09/15/26 |
5,186 | 4,985,198 | ||||||||
MPLX LP, 4.95%, 03/14/52 |
2,212 | 1,911,516 | ||||||||
Murphy Oil Corp. |
||||||||||
5.75%, 08/15/25 |
605 | 598,654 | ||||||||
5.88%, 12/01/27 |
228 | 212,781 | ||||||||
6.13%, 12/01/42 |
141 | 105,398 |
Security |
Par (000) |
Value |
||||||||
Oil, Gas & Consumable Fuels (continued) |
||||||||||
Murphy Oil USA, Inc., 4.75%, 09/15/29 |
USD | 928 | $ | 835,256 | ||||||
Nabors Industries Ltd. (c) |
||||||||||
7.25%, 01/15/26 |
375 | 332,569 | ||||||||
7.50%, 01/15/28 |
877 | 754,220 | ||||||||
Nabors Industries, Inc., 7.38%, 05/15/27 (c) |
1,461 | 1,387,950 | ||||||||
Neptune Energy Bondco PLC, 6.63%, 05/15/25 (c) |
200 | 192,000 | ||||||||
New Fortress Energy, Inc. (c) |
||||||||||
6.75%, 09/15/25 |
3,227 | 3,049,515 | ||||||||
6.50%, 09/30/26 |
4,988 | 4,517,938 | ||||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (c) |
948 | 853,200 | ||||||||
NGPL PipeCo LLC, 7.77%, 12/15/37 (c) |
1,640 | 1,784,708 | ||||||||
Northern Oil & Gas, Inc., 8.13%, 03/01/28 (c) |
3,877 | 3,654,072 | ||||||||
NuStar Logistics LP |
||||||||||
5.75%, 10/01/25 |
719 | 672,265 | ||||||||
6.00%, 06/01/26 |
908 | 848,980 | ||||||||
6.38%, 10/01/30 |
75 | 65,162 | ||||||||
Occidental Petroleum Corp. |
||||||||||
6.95%, 07/01/24 |
363 | 373,890 | ||||||||
8.00%, 07/15/25 |
138 | 145,245 | ||||||||
5.88%, 09/01/25 |
444 | 442,069 | ||||||||
5.50%, 12/01/25 |
641 | 631,385 | ||||||||
8.88%, 07/15/30 |
549 | 630,295 | ||||||||
6.63%, 09/01/30 |
3,013 | 3,103,390 | ||||||||
6.13%, 01/01/31 |
293 | 296,934 | ||||||||
7.50%, 05/01/31 |
533 | 572,975 | ||||||||
6.45%, 09/15/36 |
451 | 462,275 | ||||||||
6.20%, 03/15/40 |
3,936 | 3,876,960 | ||||||||
6.60%, 03/15/46 |
227 | 241,074 | ||||||||
Parkland Corp., 5.88%, 07/15/27 (c) |
1,223 | 1,109,872 | ||||||||
PDC Energy, Inc., 6.13%, 09/15/24 |
356 | 353,577 | ||||||||
Range Resources Corp., 4.88%, 05/15/25 |
464 | 452,586 | ||||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29 (c) |
1,911 | 1,738,953 | ||||||||
SM Energy Co. |
||||||||||
5.63%, 06/01/25 |
380 | 359,100 | ||||||||
6.75%, 09/15/26 |
724 | 682,994 | ||||||||
6.63%, 01/15/27 |
137 | 128,095 | ||||||||
6.50%, 07/15/28 |
970 | 892,114 | ||||||||
Southwestern Energy Co. |
||||||||||
5.95%, 01/23/25 |
11 | 10,867 | ||||||||
5.38%, 02/01/29 |
1,724 | 1,599,182 | ||||||||
4.75%, 02/01/32 |
856 | 731,473 | ||||||||
Sunoco LP/Sunoco Finance Corp. |
||||||||||
6.00%, 04/15/27 |
339 | 323,196 | ||||||||
5.88%, 03/15/28 |
808 | 736,700 | ||||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. (c) |
||||||||||
6.00%, 03/01/27 |
250 | 223,125 | ||||||||
6.00%, 12/31/30 |
171 | 141,930 | ||||||||
6.00%, 09/01/31 |
686 | 565,950 | ||||||||
Tap Rock Resources LLC, 7.00%, 10/01/26 (c) |
4,398 | 4,152,672 | ||||||||
Transocean, Inc., 11.50%, 01/30/27 (c) |
965 | 905,778 | ||||||||
UGI International LLC, 2.50%, 12/01/29 (a) |
EUR | 100 | 78,588 | |||||||
Venture Global Calcasieu Pass LLC (c) |
||||||||||
3.88%, 08/15/29 |
USD | 4,507 | 3,942,386 | |||||||
4.13%, 08/15/31 |
3,821 | 3,265,121 | ||||||||
3.88%, 11/01/33 |
7,004 | 5,778,300 | ||||||||
Vermilion Energy, Inc., 6.88%, 05/01/30 (c) |
807 | 722,265 | ||||||||
Western Midstream Operating LP 4.75%, 08/15/28 |
145 | 132,475 |
64 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Oil, Gas & Consumable Fuels (continued) |
||||||||||||
Western Midstream Operating LP (continued) |
||||||||||||
5.45%, 04/01/44 |
USD | 1,561 | $ | 1,297,410 | ||||||||
5.30%, 03/01/48 |
1,851 | 1,492,184 | ||||||||||
5.50%, 08/15/48 |
703 | 572,945 | ||||||||||
5.75%, 02/01/50 |
3,337 | 2,679,807 | ||||||||||
|
|
|||||||||||
179,805,973 | ||||||||||||
Personal Products — 0.0% |
||||||||||||
Coty, Inc. |
||||||||||||
3.88%, 04/15/26 (a) |
EUR | 206 | 190,382 | |||||||||
4.75%, 04/15/26 (a) |
100 | 89,862 | ||||||||||
6.50%, 04/15/26 (c) |
USD | 100 | 92,194 | |||||||||
|
|
|||||||||||
372,438 | ||||||||||||
Pharmaceuticals — 1.2% |
||||||||||||
Almirall SA, 2.13%, 09/30/26 (a) |
EUR | 100 | 93,008 | |||||||||
Bausch Health Cos., Inc. (c) |
||||||||||||
9.00%, 12/15/25 |
USD | 74 | 54,675 | |||||||||
6.13%, 02/01/27 |
334 | 283,900 | ||||||||||
7.00%, 01/15/28 |
402 | 230,145 | ||||||||||
5.00%, 02/15/29 |
1,091 | 567,320 | ||||||||||
6.25%, 02/15/29 |
55 | 29,271 | ||||||||||
7.25%, 05/30/29 |
325 | 176,313 | ||||||||||
Cheplapharm Arzneimittel GmbH |
||||||||||||
3.50%, 02/11/27 (a) |
EUR | 166 | 147,953 | |||||||||
4.38%, 01/15/28 (a) |
100 | 89,040 | ||||||||||
5.50%, 01/15/28 (c) |
USD | 1,643 | 1,372,715 | |||||||||
Elanco Animal Health, Inc., 6.40%, 08/28/28 |
241 | 229,408 | ||||||||||
Gruenenthal GmbH (a) |
||||||||||||
3.63%, 11/15/26 |
EUR | 100 | 94,572 | |||||||||
4.13%, 05/15/28 |
217 | 194,431 | ||||||||||
Jazz Securities DAC, 4.38%, 01/15/29 (c) |
USD | 1,994 | 1,773,696 | |||||||||
Nidda BondsCo GmbH, 5.00%, 09/30/25 (a) |
EUR | 100 | 84,360 | |||||||||
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24 (a) |
300 | 277,761 | ||||||||||
Option Care Health, Inc., 4.38%, 10/31/29 (c) |
USD | 914 | 783,755 | |||||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV |
||||||||||||
2.88%, 04/30/28 (a) |
EUR | 120 | 105,031 | |||||||||
4.13%, 04/30/28 (c) |
USD | 2,005 | 1,774,425 | |||||||||
5.13%, 04/30/31 (c) |
1,680 | 1,449,554 | ||||||||||
P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (c) |
1,480 | 1,036,074 | ||||||||||
PRA Health Sciences, Inc., 2.88%, 07/15/26 (c) |
2,163 | 1,925,070 | ||||||||||
Prestige Brands, Inc., 3.75%, 04/01/31 (c) |
834 | 691,553 | ||||||||||
Rossini SARL, 6.75%, 10/30/25 (a) |
EUR | 201 | 202,229 | |||||||||
Teva Pharmaceutical Finance Netherlands II BV |
||||||||||||
6.00%, 01/31/25 |
100 | 102,064 | ||||||||||
4.50%, 03/01/25 |
200 | 195,744 | ||||||||||
3.75%, 05/09/27 |
100 | 88,604 | ||||||||||
1.63%, 10/15/28 (a) |
100 | 73,671 | ||||||||||
Teva Pharmaceutical Finance Netherlands III BV, 7.13%, 01/31/25 |
USD | 200 | 194,162 | |||||||||
|
|
|||||||||||
14,320,504 | ||||||||||||
Real Estate — 0.1% |
||||||||||||
VICI Properties LP, 5.63%, 05/15/52 |
1,030 | 937,475 | ||||||||||
|
|
|||||||||||
Real Estate Management & Development — 0.6% |
||||||||||||
Adler Group SA (a) |
||||||||||||
3.25%, 08/05/25 |
EUR | 200 | 112,936 | |||||||||
2.75%, 11/13/26 |
200 | 105,005 |
Security |
Par (000) |
Value |
||||||||||
Real Estate Management & Development (continued) |
||||||||||||
Cushman & Wakefield U.S. Borrower LLC, 6.75%, 05/15/28 (c) |
USD | 1,451 | $ | 1,347,616 | ||||||||
DEMIRE Deutsche Mittelstand Real Estate AG, 1.88%, 10/15/24 (a) |
EUR | 100 | 86,519 | |||||||||
DIC Asset AG, 2.25%, 09/22/26 (a) |
200 | 139,377 | ||||||||||
Fastighets AB Balder, (5 year EUR Swap + 3.19%), 2.87%, 06/02/81 (a)(b) |
175 | 98,142 | ||||||||||
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25 (c) |
USD | 491 | 411,826 | |||||||||
Heimstaden Bostad AB (a)(b)(k) |
||||||||||||
(5 year EUR Swap + 3.15%), 2.63% |
EUR | 200 | 106,338 | |||||||||
(5 year EUR Swap + 3.91%), 3.38% |
100 | 61,435 | ||||||||||
Howard Hughes Corp. (c) |
||||||||||||
5.38%, 08/01/28 |
USD | 1,334 | 1,117,225 | |||||||||
4.13%, 02/01/29 |
943 | 727,324 | ||||||||||
4.38%, 02/01/31 |
660 | 488,454 | ||||||||||
Realogy Group LLC/Realogy Co-Issuer Corp. (c) |
|
|||||||||||
5.75%, 01/15/29 |
1,495 | 1,133,688 | ||||||||||
5.25%, 04/15/30 |
714 | 528,360 | ||||||||||
Starwood Property Trust, Inc., 4.38%, 01/15/27 (c) |
406 | 352,432 | ||||||||||
WeWork Cos. LLC/WW Co.-Obligor, Inc., 5.00%, 07/10/25 (c) |
1,057 | 682,663 | ||||||||||
|
|
|||||||||||
7,499,340 | ||||||||||||
Road & Rail — 0.2% |
||||||||||||
Autostrade per l’Italia SpA (a) |
||||||||||||
1.88%, 11/04/25 |
EUR | 100 | 96,844 | |||||||||
2.00%, 01/15/30 |
279 | 228,786 | ||||||||||
Danaos Corp., 8.50%, 03/01/28 (c) |
USD | 161 | 159,393 | |||||||||
Seaspan Corp., 5.50%, 08/01/29 (c) |
1,800 | 1,448,222 | ||||||||||
|
|
|||||||||||
1,933,245 | ||||||||||||
Semiconductors & Semiconductor Equipment — 1.2% |
||||||||||||
ams-OSRAM AG (a) |
||||||||||||
2.13%, 11/03/27 |
EUR | 100 | 75,040 | |||||||||
Series AMS, 0.00%, 03/05/25 (l) |
200 | 163,225 | ||||||||||
Entegris Escrow Corp., 4.75%, 04/15/29 (c) |
USD | 6,364 | 5,926,336 | |||||||||
Sensata Technologies BV (c) |
||||||||||||
5.63%, 11/01/24 |
1,400 | 1,382,024 | ||||||||||
5.00%, 10/01/25 |
2,021 | 1,940,160 | ||||||||||
4.00%, 04/15/29 |
1,041 | 882,851 | ||||||||||
Sensata Technologies, Inc. (c) |
||||||||||||
4.38%, 02/15/30 |
3,030 | 2,579,068 | ||||||||||
3.75%, 02/15/31 |
146 | 117,013 | ||||||||||
Synaptics, Inc., 4.00%, 06/15/29 (c) |
1,094 | 888,306 | ||||||||||
|
|
|||||||||||
13,954,023 | ||||||||||||
Software — 2.2% |
||||||||||||
ACI Worldwide, Inc., 5.75%, 08/15/26 (c) |
1,133 | 1,093,651 | ||||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28 (c) |
1,997 | 1,727,405 | ||||||||||
Boxer Parent Co., Inc. |
||||||||||||
6.50%, 10/02/25 (a) |
EUR | 373 | 366,024 | |||||||||
7.13%, 10/02/25 (c) |
USD | 1,099 | 1,052,358 | |||||||||
9.13%, 03/01/26 (c) |
3,346 | 3,125,872 | ||||||||||
Cedacri Mergeco SpA, (3 mo. EURIBOR + 4.63%), 4.63%, 05/15/28 (a)(b) |
EUR | 163 | 157,455 | |||||||||
Elastic NV, 4.13%, 07/15/29 (c) |
USD | 2,011 | 1,678,743 | |||||||||
Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 4.63%, 05/01/28 (c) |
959 | 761,101 | ||||||||||
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32 (c) |
1,386 | 1,118,658 | ||||||||||
Maxar Technologies, Inc., 7.75%, 06/15/27 |
421 | 417,009 | ||||||||||
MicroStrategy, Inc., 6.13%, 06/15/28 (c) |
2,441 | 1,943,842 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Software (continued) |
||||||||||||
MSCI, Inc. (c) |
||||||||||||
3.63%, 09/01/30 |
USD | 551 | $ | 459,357 | ||||||||
3.88%, 02/15/31 |
821 | 701,955 | ||||||||||
3.63%, 11/01/31 |
798 | 656,872 | ||||||||||
3.25%, 08/15/33 |
976 | 777,960 | ||||||||||
Open Text Corp. (c) |
||||||||||||
3.88%, 02/15/28 |
29 | 25,794 | ||||||||||
3.88%, 12/01/29 |
991 | 834,075 | ||||||||||
Open Text Holdings, Inc., 4.13%, 02/15/30 (c) |
1,365 | 1,180,793 | ||||||||||
Playtika Holding Corp., 4.25%, 03/15/29 (c) |
2,013 | 1,660,725 | ||||||||||
PTC, Inc., 4.00%, 02/15/28 (c) |
493 | 445,508 | ||||||||||
SS&C Technologies, Inc., 5.50%, 09/30/27 (c) |
4,790 | 4,466,962 | ||||||||||
Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (c) |
682 | 511,804 | ||||||||||
|
|
|||||||||||
25,163,923 | ||||||||||||
Specialty Retail — 0.7% |
||||||||||||
Arko Corp., 5.13%, 11/15/29 (c) |
981 | 743,134 | ||||||||||
Bath & Body Works, Inc., 7.60%, 07/15/37 |
246 | 198,319 | ||||||||||
Carvana Co., 10.25%, 05/01/30 (c) |
843 | 691,260 | ||||||||||
Douglas GmbH, 6.00%, 04/08/26 (a) |
EUR | 100 | 80,692 | |||||||||
Goldstory SASU, 5.38%, 03/01/26 (a) |
100 | 88,211 | ||||||||||
PetSmart, Inc./PetSmart Finance Corp. (c) 4.75%, 02/15/28 |
USD | 695 | 601,342 | |||||||||
7.75%, 02/15/29 |
3,886 | 3,499,382 | ||||||||||
Staples, Inc., 7.50%, 04/15/26 (c) |
2,925 | 2,424,445 | ||||||||||
Tendam Brands SAU, (3 mo. EURIBOR + 5.25%), 5.25%, 09/15/24 (a)(b) |
EUR | 100 | 100,035 | |||||||||
|
|
|||||||||||
8,426,820 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.1% |
||||||||||||
II-VI, Inc., 5.00%, 12/15/29 (c) |
USD | 1,896 | 1,654,260 | |||||||||
|
|
|||||||||||
Textiles, Apparel & Luxury Goods — 0.2% |
||||||||||||
BK LC Lux Finco1 SARL, 5.25%, 04/30/29 (a) |
EUR | 100 | 82,657 | |||||||||
Crocs, Inc. (c) |
||||||||||||
4.25%, 03/15/29 |
USD | 369 | 272,942 | |||||||||
4.13%, 08/15/31 |
971 | 687,231 | ||||||||||
European TopSoho SARL, Series SMCP, 4.00%, 09/21/21 (a)(j) |
EUR | 200 | 181,530 | |||||||||
Kontoor Brands, Inc., 4.13%, 11/15/29 (c) |
USD | 525 | 416,913 | |||||||||
Levi Strauss & Co., 3.50%, 03/01/31 (c) |
668 | 546,090 | ||||||||||
William Carter Co., 5.63%, 03/15/27 (c) |
543 | 508,470 | ||||||||||
|
|
|||||||||||
2,695,833 | ||||||||||||
Thrifts & Mortgage Finance — 0.5% |
||||||||||||
doValue SpA, 3.38%, 07/31/26 (a) |
EUR | 128 | 115,568 | |||||||||
Enact Holdings, Inc., 6.50%, 08/15/25 (c) |
USD | 2,158 | 2,035,253 | |||||||||
Home Point Capital, Inc., 5.00%, 02/01/26 (c) |
1,023 | 705,870 | ||||||||||
Jerrold Finco PLC (a) |
||||||||||||
4.88%, 01/15/26 |
GBP | 100 | 106,879 | |||||||||
5.25%, 01/15/27 |
140 | 150,270 | ||||||||||
MGIC Investment Corp., 5.25%, 08/15/28 |
USD | 857 | 767,401 | |||||||||
Nationstar Mortgage Holdings, Inc. (c) 6.00%, 01/15/27 |
85 | 73,732 | ||||||||||
5.13%, 12/15/30 |
569 | 425,344 | ||||||||||
5.75%, 11/15/31 |
527 | 403,524 | ||||||||||
Rocket Mortgage LLC/Rocket Mortgage Co- Issuer, Inc., 2.88%, 10/15/26 (c) |
1,110 | 917,315 | ||||||||||
|
|
|||||||||||
5,701,156 |
Security |
Par (000) |
Value |
||||||||
Transportation — 0.0% |
||||||||||
Autostrade per l’Italia SpA, 2.00%, 12/04/28 (a) |
EUR | 226 | $ | 193,031 | ||||||
|
|
|||||||||
Transportation Infrastructure (a) — 0.0% |
||||||||||
Autostrade per l’Italia SpA, 1.63%, 01/25/28 |
150 | 130,885 | ||||||||
Heathrow Finance PLC, 4.63%, 09/01/29 (n) |
GBP | 215 | 225,471 | |||||||
|
|
|||||||||
356,356 | ||||||||||
Utilities — 0.3% |
||||||||||
Consensus Cloud Solutions, Inc. (c) |
||||||||||
6.00%, 10/15/26 |
USD | 386 | 332,076 | |||||||
6.50%, 10/15/28 |
475 | 391,970 | ||||||||
Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28 (c) |
1,965 | 1,709,550 | ||||||||
Thames Water Kemble Finance PLC, 4.63%, 05/19/26 (a) |
GBP | 252 | 286,124 | |||||||
Vistra Operations Co. LLC, 4.38%, 05/01/29 (c) |
USD | 1,257 | 1,051,644 | |||||||
|
|
|||||||||
3,771,364 | ||||||||||
Wireless Telecommunication Services — 1.9% |
||||||||||
Altice France SA |
||||||||||
2.50%, 01/15/25 (a) |
EUR | 169 | 154,409 | |||||||
5.88%, 02/01/27 (a) |
100 | 90,805 | ||||||||
8.13%, 02/01/27 (c) |
USD | 2,712 | 2,496,098 | |||||||
5.50%, 01/15/28 (c) |
1,286 | 1,036,336 | ||||||||
4.13%, 01/15/29 (a) |
EUR | 200 | 157,818 | |||||||
5.13%, 01/15/29 (c) |
USD | 794 | 601,542 | |||||||
5.13%, 07/15/29 (c) |
1,641 | 1,238,955 | ||||||||
4.25%, 10/15/29 (a) |
EUR | 147 | 114,652 | |||||||
5.50%, 10/15/29 (c) |
USD | 2,390 | 1,825,745 | |||||||
SBA Communications Corp. |
||||||||||
3.13%, 02/01/29 |
96 | 78,576 | ||||||||
3.88%, 02/15/27 |
5,258 | 4,799,450 | ||||||||
T-Mobile USA, Inc. |
||||||||||
4.75%, 02/01/28 |
396 | 383,807 | ||||||||
2.63%, 02/15/29 |
1,928 | 1,622,965 | ||||||||
3.38%, 04/15/29 |
607 | 531,125 | ||||||||
2.88%, 02/15/31 |
1,184 | 982,992 | ||||||||
3.50%, 04/15/31 |
992 | 856,523 | ||||||||
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 7.88%, 02/15/25 (c) |
1,089 | 1,050,776 | ||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 02/15/29 (c) |
2,510 | 1,838,575 | ||||||||
Vmed O2 U.K. Financing I PLC 4.00%, 01/31/29 (a) |
GBP | 200 | 193,122 | |||||||
4.25%, 01/31/31 (c) |
USD | 257 | 206,564 | |||||||
4.50%, 07/15/31 (a) |
GBP | 201 | 192,683 | |||||||
4.75%, 07/15/31 (c) |
USD | 1,668 | 1,347,494 | |||||||
Vodafone Group PLC, (5 year EUR Swap + 3.23%), 3.00%, 08/27/80 (a)(b) |
EUR | 100 | 79,309 | |||||||
|
|
|||||||||
21,880,321 | ||||||||||
|
|
|||||||||
Total Corporate Bonds — 112.1% (Cost: $1,494,541,740) |
1,296,381,435 | |||||||||
|
|
|||||||||
Floating Rate Loan Interests (b) |
||||||||||
Aerospace & Defense — 0.7% |
||||||||||
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, 11/17/28 (o) |
USD | 412 | 391,058 |
66 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||
Aerospace & Defense (continued) |
||||||||||
Peraton Corp. |
||||||||||
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 9.00%, 02/01/29 |
USD | 1,564 | $ | 1,450,585 | ||||||
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 02/01/28 |
5,143 | 4,819,132 | ||||||||
Spirit Aerosystems, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 01/15/25 |
1,109 | 1,078,656 | ||||||||
WP CPP Holdings LLC, 2018 Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.99%, 04/30/25 |
318 | 262,113 | ||||||||
|
|
|||||||||
8,001,544 | ||||||||||
Air Freight & Logistics — 0.4% |
||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.72%, 04/06/28 |
609 | 550,485 | ||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 12/15/28 |
4,425 | 3,982,400 | ||||||||
|
|
|||||||||
4,532,885 | ||||||||||
Airlines — 1.0% |
||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.81%, 04/20/28 |
3,547 | 3,377,834 | ||||||||
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28 (g) |
1,924 | 1,765,270 | ||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 7.31%, 06/21/27 |
1,146 | 1,129,616 | ||||||||
SkyMiles IP Ltd., 2020 Skymiles Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.81%, 10/20/27 |
1,648 | 1,636,151 | ||||||||
United Airlines, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.39%, 04/21/28 |
3,568 | 3,306,957 | ||||||||
|
|
|||||||||
11,215,828 | ||||||||||
Auto Components — 0.1% |
||||||||||
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 04/30/26 |
1,242 | 1,156,338 | ||||||||
|
|
|||||||||
Banks — 0.4% |
||||||||||
Directv Financing LLC, Term Loan, (1 mo. LIBOR + 5.00%, 0.75% Floor), 6.67%, 08/02/27 |
4,573 | 4,197,770 | ||||||||
|
|
|||||||||
Beverages — 0.1% |
||||||||||
Naked Juice LLC |
||||||||||
2nd Lien Term Loan, (SOFR + 6.00%), 8.15%, 01/24/30 (g) |
156 | 140,400 | ||||||||
Term Loan, (SOFR + 3.25%), 5.40%, 01/24/29 |
733 | 680,709 | ||||||||
|
|
|||||||||
821,109 | ||||||||||
Building Products — 0.0% |
||||||||||
Standard Industries, Inc., 2021 Term Loan B, 09/22/28 (o) |
— | (e) |
1 | |||||||
|
|
Security |
Par (000) |
Value |
||||||||
Capital Markets — 0.2% |
||||||||||
AqGen Ascensus, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.50%), 7.50%, 08/02/29 (g) |
USD | 994 | $ | 924,486 | ||||||
Deerfield Dakota Holding LLC, 2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 8.42%, 04/07/28 |
1,206 | 1,169,820 | ||||||||
|
|
|||||||||
2,094,306 | ||||||||||
Chemicals — 0.7% |
||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.00%, 08/27/26 |
2,321 | 2,257,009 | ||||||||
Atotech BV, 2021 USD Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 03/18/28 |
2,540 | 2,421,782 | ||||||||
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/15/24 |
1,426 | 1,374,940 | ||||||||
New Arclin U.S. Holding Corp., 2021 Term Loan , (1 mo. LIBOR + 3.75%), 5.42%, 09/30/28 |
885 | 814,199 | ||||||||
WR Grace Holdings LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.75%), 6.06%, 09/22/28 |
1,514 | 1,432,900 | ||||||||
|
|
|||||||||
8,300,830 | ||||||||||
Commercial Services & Supplies — 0.7% |
||||||||||
Asurion LLC, 2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 4.92%, 12/23/26 |
2,216 | 2,004,332 | ||||||||
GFL Environmental, Inc., 2020 Term Loan, (3 mo. LIBOR + 3.00%), 4.24%, 05/30/25 |
— | (e) |
1 | |||||||
Propulsion BC Finco SARL, Term Loan, 02/10/29 (g)(o) |
887 | 838,302 | ||||||||
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 5.67%, 08/27/25 |
5,496 | 5,248,765 | ||||||||
|
|
|||||||||
8,091,400 | ||||||||||
Communications Equipment — 0.1% |
||||||||||
ViaSat, Inc., Term Loan, (SOFR + 4.50%), 6.14%, 03/02/29 |
1,767 | 1,641,010 | ||||||||
|
|
|||||||||
Construction & Engineering — 1.3% |
||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.40%, 06/21/24 |
14,367 | 12,357,887 | ||||||||
New Arclin U.S. Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 8.67%, 09/30/29 (g) |
2,814 | 2,652,195 | ||||||||
|
|
|||||||||
15,010,082 | ||||||||||
Construction Materials — 0.0% |
||||||||||
BCPE Empire Holdings, Inc., 2022 Incremental Term Loan, (SOFR + 4.62%), 6.25%, 06/11/26 |
191 | 179,230 | ||||||||
Smyrna Ready Mix Concrete LLC, (SOFR + 4.25%), 5.88%, 04/02/29 (g) |
344 | 317,218 | ||||||||
|
|
|||||||||
496,448 | ||||||||||
Containers & Packaging — 0.2% |
||||||||||
BWAY Holding Co., 2017 Term Loan B, (1 Week LIBOR + 3.25%), 4.31%, 04/03/24 |
1,951 | 1,835,506 | ||||||||
Charter Next Generation, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 12/01/27 |
1 | 1 | ||||||||
Clydesdale Acquisition Holdings, Inc., Term Loan B, (SOFR + 4.25%), 5.88%, 04/13/29 |
842 | 785,561 | ||||||||
|
|
|||||||||
2,621,068 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Diversified Consumer Services — 0.2% |
||||||||||||
Amentum Government Services Holdings LLC, Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 01/29/27 |
USD | 362 | $ | 343,315 | ||||||||
Ascend Learning LLC, 2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 7.42%, 12/10/29 (g) |
657 | 601,155 | ||||||||||
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%), 5.54%, 01/15/27 |
405 | 386,693 | ||||||||||
TruGreen LP, 2020 2nd Lien Term Loan, (1 mo. LIBOR + 8.50%, 0.75% Floor), 10.17%, 11/02/28 (g) |
868 | 828,940 | ||||||||||
|
|
|||||||||||
2,160,103 | ||||||||||||
Diversified Financial Services — 1.0% |
||||||||||||
AqGen Island Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 5.81%, 08/02/28 (g) |
250 | 232,846 | ||||||||||
Delta TopCo, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 5.84%, 12/01/27 |
2,101 | 1,897,901 | ||||||||||
EP Purchaser LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 5.75%, 11/06/28 |
369 | 350,217 | ||||||||||
Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.25%, 10/01/27 |
3,713 | 3,502,293 | ||||||||||
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (SOFR + 4.00%), 6.20%, 02/16/28 |
543 | 510,440 | ||||||||||
KKR Apple Bidco LLC |
||||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 7.42%, 09/21/29 |
144 | 137,340 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 09/23/28 |
889 | 837,071 | ||||||||||
LBM Acquisition LLC, Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 12/18/27 |
— | (e) |
5 | |||||||||
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 09/25/26 |
314 | 291,624 | ||||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.25%, 09/01/25 |
2,627 | 2,143,209 | ||||||||||
White Cap Buyer LLC, Term Loan B, (SOFR + 3.75%), 5.28%, 10/19/27 |
1,594 | 1,464,059 | ||||||||||
|
|
|||||||||||
11,367,005 | ||||||||||||
Diversified Telecommunication Services — 0.1% |
||||||||||||
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.06%, 05/01/28 |
1,124 | 1,048,957 | ||||||||||
Intelsat Jackson Holdings SA, 2017 Term Loan B3, (PRIME + 4.75%), 9.50%, 11/27/23 |
4 | 3,875 | ||||||||||
|
|
|||||||||||
1,052,832 | ||||||||||||
Electrical Equipment — 0.1% |
||||||||||||
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.50%, 0.75% Floor), 4.17%, 03/31/27 |
1,231 | 1,159,222 | ||||||||||
|
|
Security |
Par (000) |
Value |
||||||||||
Food Products — 0.0% |
||||||||||||
Chobani LLC, 2020 Term Loan B, 10/25/27 (o) |
USD | 168 | $ | 152,213 | ||||||||
|
|
|||||||||||
Gas Utilities — 0.1% |
||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3 mo. LIBOR + 3.50%), 4.56%, 12/21/28 |
1,353 | 1,165,600 | ||||||||||
|
|
|||||||||||
Health Care Providers & Services — 0.4% |
||||||||||||
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 6.25%, 01/08/27 |
1,235 | 1,166,938 | ||||||||||
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/10/25 |
3,034 | 998,346 | ||||||||||
EyeCare Partners LLC, 2020 Term Loan, (3 mo. LIBOR + 3.75%), 6.00%, 02/18/27 |
739 | 681,497 | ||||||||||
Quorum Health Corp., 2020 Term Loan, (3 mo. LIBOR + 6.50%, 1.00% Floor), 7.50%, 04/29/25 |
1,453 | 968,625 | ||||||||||
RegionalCare Hospital Partners Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 11/16/25 |
442 | 411,402 | ||||||||||
|
|
|||||||||||
4,226,808 | ||||||||||||
Health Care Services — 0.0% |
||||||||||||
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%), 9.88%, 11/01/29 |
631 | 580,520 | ||||||||||
|
|
|||||||||||
Health Care Technology — 1.4% |
||||||||||||
Athenahealth, Inc., 2022 Term Loan B, (SOFR + 3.50%), 5.01%, 02/15/29 |
7,574 | 6,953,667 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%), 5.67%, 06/02/28 |
1,255 | 1,156,338 | ||||||||||
Verscend Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 8.67%, 04/02/29 (g) |
8,084 | 7,598,960 | ||||||||||
|
|
|||||||||||
15,708,965 | ||||||||||||
Hotels, Restaurants & Leisure — 0.5% |
||||||||||||
Caesars Resort Collection LLC, 2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 12/23/24 |
1,477 | 1,419,268 | ||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (SOFR + 4.00%), 5.53%, 01/27/29 |
2,714 | 2,764,869 | ||||||||||
Great Canadian Gaming Corp., 2021 Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.10%, 11/01/26 |
303 | 284,366 | ||||||||||
IRB Holding Corp., 2022 Term Loan B, (SOFR + 3.15%, 0.75% Floor), 4.24%, 12/15/27 |
1,157 | 1,083,510 | ||||||||||
|
|
|||||||||||
5,552,013 | ||||||||||||
Household Durables — 0.2% |
||||||||||||
Solis IV BV, USD Term Loan B1, (SOFR + 3.50%), 4.84%, 02/26/29 |
1,135 | 973,977 | ||||||||||
Springs Windows Fashions LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.60%, 10/06/28 |
2,084 | 1,706,093 | ||||||||||
|
|
|||||||||||
2,680,070 |
68 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Independent Power and Renewable Electricity Producers — 0.0% |
||||||||||||
Calpine Corp., 2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 3.67%, 08/12/26 |
USD | 92 | $ | 87,304 | ||||||||
|
|
|||||||||||
Industrial Conglomerates — 0.2% |
||||||||||||
AVSC Holding Corp., 2018 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 1.00% Floor), 8.58%, 09/01/25 |
1,279 | 1,013,099 | ||||||||||
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 8.30%, 11/28/23 |
927 | 918,190 | ||||||||||
|
|
|||||||||||
1,931,289 | ||||||||||||
Insurance — 0.5% |
||||||||||||
Alliant Holdings Intermediate LLC |
||||||||||||
2021 Term Loan B4, (1 mo. LIBOR + 3.50%), 5.01%, 11/06/27 |
964 | 893,969 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/09/25 |
1,970 | 1,858,402 | ||||||||||
AssuredPartners, Inc., 2022 Term Loan, (SOFR + 3.50%), 5.03%, 02/12/27 |
1,087 | 1,011,166 | ||||||||||
Hub International Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 4.21%, 04/25/25 |
— | (e) |
1 | |||||||||
Ryan Specialty Group LLC, Term Loan, (SOFR + 3.00%, 0.75% Floor), 4.63%, 09/01/27 (g) |
543 | 521,279 | ||||||||||
Sedgwick Claims Management Services, Inc. 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 12/31/25 |
846 | 792,597 | ||||||||||
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 09/03/26 |
498 | 472,815 | ||||||||||
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.92%, 09/03/26 |
527 | 507,928 | ||||||||||
|
|
|||||||||||
6,058,157 | ||||||||||||
Interactive Media & Services — 0.2% |
||||||||||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.67%, 10/30/26 |
367 | 345,632 | ||||||||||
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26 |
2,807 | 2,553,808 | ||||||||||
|
|
|||||||||||
2,899,440 | ||||||||||||
IT Services — 1.7% |
||||||||||||
Banff Merger Sub, Inc. |
||||||||||||
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 5.50%), 7.17%, 02/27/26 |
2,250 | 2,107,980 | ||||||||||
2021 USD Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/02/25 |
1,294 | 1,202,488 | ||||||||||
CoreLogic, Inc., 2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 8.19%, 06/04/29 (g) |
1,285 | 925,057 | ||||||||||
Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 12/01/27 |
1,342 | 1,279,536 | ||||||||||
Optiv Security, Inc., 1st Lien Term Loan, (6 mo. LIBOR + 3.25%, 1.00% Floor), 5.33%, 02/01/24 |
1,219 | 1,163,820 | ||||||||||
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 02/12/27 (g) |
2,299 | 2,069,294 |
Security |
Par (000) |
Value |
||||||||||
IT Services (continued) |
||||||||||||
Sophia LP, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.00%, 1.00% Floor), 10.25%, 10/09/28 |
USD | 10,251 | $ | 10,174,118 | ||||||||
TierPoint LLC, 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 05/05/26 (g) |
343 | 319,734 | ||||||||||
|
|
|||||||||||
19,242,027 | ||||||||||||
Leisure Products — 0.0% |
||||||||||||
Peloton Interactive, Inc., Term Loan, (SOFR + 6.50%), 8.35%, 05/25/27 |
512 | 486,723 | ||||||||||
|
|
|||||||||||
Machinery — 1.1% |
||||||||||||
Filtration Group Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 10/21/28 |
1,216 | 1,133,745 | ||||||||||
Madison IAQ LLC, Term Loan, (6 mo. LIBOR + 3.25%), 4.52%, 06/21/28 |
— | (e) |
1 | |||||||||
MHI Holdings LLC, Term Loan B, (1 mo. LIBOR + 5.00%), 7.25%, 09/21/26 (g) |
1,986 | 1,892,090 | ||||||||||
SPX Flow, Inc., (SOFR + 4.50%), 6.13%, 04/05/29 |
1,918 | 1,782,793 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (6 mo. LIBOR + 3.00%), 5.88%, 03/28/25 |
8,501 | 7,776,709 | ||||||||||
|
|
|||||||||||
12,585,338 | ||||||||||||
Media — 1.5% |
||||||||||||
Altice Financing SA, 2017 USD Term Loan B, (3 mo. LIBOR + 2.75%), 3.79%, 07/15/25 |
238 | 214,196 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 4.74%, 08/21/26 |
6,513 | 5,576,924 | ||||||||||
Connect Finco SARL, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.17%, 12/12/26 |
502 | 460,185 | ||||||||||
Intelsat Jackson Holdings SA, 2021 Exit Term Loan B, (SOFR + 4.25%), 4.92%, 02/01/29 |
1,850 | 1,692,636 | ||||||||||
MH Sub I LLC |
||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.42%, 09/13/24 |
2,732 | 2,566,607 | ||||||||||
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.42%, 09/13/24 |
826 | 776,494 | ||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 7.92%, 02/23/29 |
288 | 270,239 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 03/09/27 |
6,160 | 5,661,542 | ||||||||||
|
|
|||||||||||
17,218,823 | ||||||||||||
Metals & Mining — 0.0% |
||||||||||||
Grinding Media, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.80%, 10/12/28 (g) |
149 | 136,662 | ||||||||||
|
|
|||||||||||
Oil, Gas & Consumable Fuels — 1.0% |
||||||||||||
Ascent Resources Utica LLC, 2020 Fixed 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%, 1.00% Floor), 10.02%, 11/01/25 |
11,117 | 11,654,006 | ||||||||||
Lealand Finance Co. BV, 2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 06/28/24 |
90 | 54,239 | ||||||||||
|
|
|||||||||||
11,708,245 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
Professional Services — 0.4% |
||||||||||||
Dun & Bradstreet Corp. |
||||||||||||
2022 Incremental Term Loan B2, (SOFR + 3.25%), 4.75%, 01/18/29 |
USD | 533 | $ | 496,530 | ||||||||
Term Loan, (1 mo. LIBOR + 3.25%), 4.87%, 02/06/26 |
1,831 | 1,724,023 | ||||||||||
Element Materials Technology Group U.S. Holdings, Inc. |
||||||||||||
2022 USD Delayed Draw Term Loan B, 0.00%, 04/12/29 |
297 | 283,932 | ||||||||||
2022 USD Delayed Draw Term Loan D, 04/12/29 (o) |
642 | 615,186 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (SOFR + 4.75%), 6.28%, 04/29/29 |
1,339 | 1,253,639 | ||||||||||
|
|
|||||||||||
4,373,310 | ||||||||||||
Real Estate Management & Development — 0.2% |
||||||||||||
Chamberlain Group, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 5.17%, 11/03/28 |
1,980 | 1,783,688 | ||||||||||
|
|
|||||||||||
Semiconductors & Semiconductor Equipment — 0.1% |
||||||||||||
MKS Instruments, Inc., 2022 Term Loan B, 04/08/29 (o) |
1,043 | 995,256 | ||||||||||
|
|
|||||||||||
Software — 3.7% |
||||||||||||
Barracuda Networks, Inc., 2020 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.99%, 10/30/28 |
722 | 719,819 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, 07/06/29 (o) |
869 | 819,145 | ||||||||||
Cloudera, Inc. |
||||||||||||
2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%), 7.67%, 10/08/29 (g) |
1,463 | 1,272,810 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/08/28 |
3,293 | 3,020,933 | ||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/28/24 (g) |
1,936 | 1,669,940 | ||||||||||
Epicor Software Corp. |
||||||||||||
2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 9.42%, 07/31/28 |
506 | 489,808 | ||||||||||
2020 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 07/30/27 |
894 | 842,401 | ||||||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 3.75%), 5.95%, 03/11/28 |
406 | 372,809 | ||||||||||
Magenta Buyer LLC |
||||||||||||
2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 6.23%, 07/27/28 |
4,526 | 4,055,693 | ||||||||||
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor), 9.48%, 07/27/29 |
2,293 | 2,086,630 | ||||||||||
McAfee LLC, 2022 USD Term Loan B, (SOFR + 4.00%), 5.15%, 03/01/29 |
5,121 | 4,647,386 | ||||||||||
Planview Parent, Inc., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.92%, 12/18/28 (g) |
850 | 807,500 | ||||||||||
Proofpoint, Inc., 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 7.82%, 08/31/29 |
2,006 | 1,915,730 | ||||||||||
RealPage, Inc. |
||||||||||||
1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 04/24/28 |
1,247 | 1,149,709 |
Security |
Par (000) |
Value |
||||||||||
Software (continued) |
||||||||||||
RealPage, Inc. (continued) |
||||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.75% Floor), 8.17%, 04/23/29 |
USD | 6,751 | $ | 6,402,502 | ||||||||
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.92%, 05/30/25 |
1,768 | 1,669,659 | ||||||||||
Sabre Global, Inc. |
||||||||||||
2021 Term Loan B1, (1 mo. LIBOR + 3.50%), 5.17%, 12/17/27 |
526 | 490,479 | ||||||||||
2021 Term Loan B2, (1 mo. LIBOR + 3.50%), 5.17%, 12/17/27 |
838 | 781,852 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 4.62%, 08/01/25 |
2,165 | 2,074,309 | ||||||||||
Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 5.50%, 10/07/27 |
2,803 | 2,608,849 | ||||||||||
Sovos Compliance LLC |
||||||||||||
2021 Delayed Draw Term Loan, (1 mo. LIBOR + 4.50%), 6.15%, 08/11/28 |
100 | 93,552 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 4.50%), 6.17%, 08/11/28 |
574 | 539,023 | ||||||||||
Tempo Acquisition LLC, Non-Extended Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 05/01/24 |
200 | 196,950 | ||||||||||
Tibco Software, Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.25%, 03/03/28 |
1,576 | 1,542,116 | ||||||||||
Ultimate Software Group, Inc. |
||||||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%), 6.21%, 05/03/27 |
2,065 | 1,899,944 | ||||||||||
2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.21%, 05/04/26 |
749 | 699,987 | ||||||||||
|
|
|||||||||||
42,869,535 | ||||||||||||
Specialty Retail — 0.0% |
||||||||||||
PetSmart, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28 |
66 | 61,456 | ||||||||||
Staples, Inc., 7 Year Term Loan, (3 mo. LIBOR + 5.00%), 6.29%, 04/16/26 |
648 | 562,120 | ||||||||||
|
|
|||||||||||
623,576 | ||||||||||||
Textiles, Apparel & Luxury Goods — 0.3% |
||||||||||||
Crocs, Inc., Term Loan B, (SOFR + 3.50%), 4.45%, 02/17/29 |
4,319 | 3,922,274 | ||||||||||
|
|
|||||||||||
Trading Companies & Distributors — 0.2% |
||||||||||||
Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.49%, 01/31/28 (g) |
564 | 490,538 | ||||||||||
SRS Distribution, Inc., 2022 Incremental Term Loan, (SOFR + 3.50%), 4.00%, 06/02/28 |
1,538 | 1,413,390 | ||||||||||
|
|
|||||||||||
1,903,928 | ||||||||||||
Transportation — 0.1% |
||||||||||||
Brown Group Holding, LLC, 2022 Term Loan B2, 07/02/29 (o) |
1,277 | 1,223,787 | ||||||||||
|
|
|||||||||||
Total Floating Rate Loan Interests — 21.1% |
||||||||||||
(Cost: $263,522,784) |
244,035,332 | |||||||||||
|
|
70 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Preferred Securities |
||||||||||||
Capital Trusts — 1.8% (b)(d) |
||||||||||||
Automobiles (k) — 0.1% |
||||||||||||
General Motors Financial Co., Inc., Series C, 5.70% |
USD | 655 | $ | 569,850 | ||||||||
Volkswagen International Finance NV (a) 3.75% |
EUR | 100 | 89,076 | |||||||||
4.38% |
100 | 84,083 | ||||||||||
|
|
|||||||||||
743,009 | ||||||||||||
Banks (k) — 0.1% |
||||||||||||
AIB Group PLC, 5.25% (a) |
200 | 190,465 | ||||||||||
CaixaBank SA, 6.38% (a) |
200 | 207,494 | ||||||||||
Credit Agricole SA, 4.75% (c) |
USD | 1,095 | 850,997 | |||||||||
|
|
|||||||||||
1,248,956 | ||||||||||||
Diversified Financial Services (k) — 1.2% |
||||||||||||
Barclays PLC, 4.38% |
2,490 | 1,909,490 | ||||||||||
Credit Suisse Group AG (c) 6.38% |
1,658 | 1,369,919 | ||||||||||
5.25% |
1,077 | 831,966 | ||||||||||
6.25% |
200 | 182,000 | ||||||||||
Deutsche Bank AG, 6.75% (a) |
EUR | 200 | 187,194 | |||||||||
HSBC Holdings PLC, 6.00% |
USD | 2,298 | 2,059,582 | |||||||||
JPMorgan Chase & Co. |
||||||||||||
Series FF, 5.00% |
5,918 | 5,222,635 | ||||||||||
Series HH, 4.60% |
1,416 | 1,195,842 | ||||||||||
Series Q, 5.15% |
850 | 804,313 | ||||||||||
|
|
|||||||||||
13,762,941 | ||||||||||||
Diversified Telecommunication Services — 0.0% |
||||||||||||
British Telecommunications PLC, 4.88%, 11/23/81 (c) |
200 | 170,000 | ||||||||||
|
|
|||||||||||
Electric Utilities (k) — 0.1% |
||||||||||||
Edison International, Series B, 5.00% |
940 | 747,893 | ||||||||||
Naturgy Finance BV, 2.37% (a) |
EUR | 200 | 161,908 | |||||||||
|
|
|||||||||||
909,801 | ||||||||||||
Food & Staples Retailing — 0.0% |
||||||||||||
Casino Guichard Perrachon SA, 3.99% (a)(k) |
100 | 39,979 | ||||||||||
|
|
|||||||||||
Health Care Providers & Services — 0.0% |
||||||||||||
Korian SA, 4.13% (a)(k) |
GBP | 200 | 191,139 | |||||||||
|
|
|||||||||||
Independent Power and Renewable Electricity Producers — 0.1% |
||||||||||||
Vistra Corp., 7.00% (c)(k) |
USD | 1,272 | 1,154,340 | |||||||||
|
|
|||||||||||
Internet & Direct Marketing Retail — 0.0% |
||||||||||||
Rakuten Group, Inc., 4.25% (a)(k) |
EUR | 225 | 162,722 | |||||||||
|
|
|||||||||||
Media — 0.0% |
||||||||||||
SES SA, 2.88% (a)(k) |
300 | 262,511 | ||||||||||
|
|
|||||||||||
Oil, Gas & Consumable Fuels (a)(k) — 0.0% |
||||||||||||
Abertis Infraestructuras Finance BV, 3.25% |
200 | 167,166 | ||||||||||
BP Capital Markets PLC, 4.25% |
GBP | 125 | 132,811 | |||||||||
Repsol International Finance BV 3.75% |
EUR | 100 | 94,347 | |||||||||
4.25% |
100 | 89,600 | ||||||||||
|
|
|||||||||||
483,924 | ||||||||||||
Transportation Infrastructure — 0.0% |
||||||||||||
Poste Italiane SpA, 2.63% (a)(k) |
200 | 145,665 | ||||||||||
|
|
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Utilities (a)(k) — 0.1% |
||||||||||||
Electricite de France SA 3.00% |
EUR | 200 | $ | 159,027 | ||||||||
2.88% |
200 | 162,432 | ||||||||||
3.38% |
400 | 272,450 | ||||||||||
6.00% |
GBP | 100 | 107,281 | |||||||||
|
|
|||||||||||
701,190 | ||||||||||||
Wireless Telecommunication Services (a) — 0.1% |
||||||||||||
Vodafone Group PLC 2.63%, 08/27/80 |
EUR | 400 | 361,753 | |||||||||
4.20%, 10/03/78 |
200 | 184,439 | ||||||||||
|
|
|||||||||||
546,192 | ||||||||||||
|
|
|||||||||||
20,522,369 | ||||||||||||
|
|
|||||||||||
Shares |
||||||||||||
|
||||||||||||
Preferred Stocks — 1.2% |
||||||||||||
Banks — 0.0% |
||||||||||||
CF-B L2 (D) LLC, (Acquired 04/08/15, Cost: $666,513) (f) |
680,898 | 12,581 | ||||||||||
|
|
|||||||||||
Commercial Services & Supplies — 0.1% |
||||||||||||
Verscend Intermediate Holding (g) |
790 | 914,362 | ||||||||||
|
|
|||||||||||
Insurance — 0.1% |
||||||||||||
Alliant Holdings, Inc. (g) |
1,431 | 1,296,704 | ||||||||||
|
|
|||||||||||
Interactive Media & Services — 0.9% |
||||||||||||
ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: $7,000,256) (f)(g) |
|
63,886 | 10,574,153 | |||||||||
|
|
|||||||||||
Wireless Telecommunication Services — 0.1% |
||||||||||||
Ligado Networks LLC |
32,168 | 1,351,073 | ||||||||||
|
|
|||||||||||
14,148,873 | ||||||||||||
|
|
|||||||||||
Total Preferred Securities — 3.0% (Cost: $39,376,732) |
|
34,671,242 | ||||||||||
|
|
|||||||||||
Total Long-Term Investments — 138.5% (Cost: $1,850,075,851) |
|
1,600,914,960 | ||||||||||
|
|
|||||||||||
Short-Term Securities |
||||||||||||
Money Market Funds — 0.2% |
||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (p)(q) |
2,647,274 | 2,647,274 | ||||||||||
|
|
|||||||||||
Total Short-Term Securities — 0.2% (Cost: $2,647,274) |
|
2,647,274 | ||||||||||
|
|
|||||||||||
Total Investments — 138.7% (Cost: $1,852,723,125) |
|
1,603,562,234 | ||||||||||
Liabilities in Excess of Other Assets — (38.7)% |
|
(447,530,893 | ) | |||||||||
|
|
|||||||||||
Net Assets — 100.0% |
$ | 1,156,031,341 | ||||||||||
|
|
(a) |
This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(b) |
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. |
(c) |
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. |
(d) |
Non-income producing security. |
(e) |
Rounds to less than 1,000. |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
(f) |
Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $11,578,875, representing 1.0% of its net assets as of period end, and an original cost of $9,266,121. |
(g) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(h) |
All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(i) |
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. |
(j) |
Issuer filed for bankruptcy and/or is in default. |
(k) |
Perpetual security with no stated maturity date. |
(l) |
Zero-coupon bond. |
(m) |
All or a portion of the security is held by a wholly-owned subsidiary. See Note 1 of the Notes to Financial Statements for details on the wholly-owned subsidiary. |
(n) |
Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
(o) |
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. |
(p) |
Affiliate of the Trust. |
(q) |
Annualized 7-day yield as of period end. |
Affiliated Issuer |
Value at 12/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 06/30/22 |
Shares Held at 06/30/22 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class |
$ | — | $ | 2,647,274 | (a) |
$ | — | $ | — | $ | — | $ | 2,647,274 | 2,647,274 | $ | 1,883 | $ | — | ||||||||||||||||||
iShares Preferred & Income Securities ETF (b) |
8,004,290 | — | (6,688,816 | ) | (738,522 | ) | (576,952 | ) | — | — | 100,053 | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (738,522 | ) | $ | (576,952 | ) | $ | 2,647,274 | $ | 101,936 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
As of period end, the entity is no longer held. |
Description |
Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
Short Contracts |
||||||||||||||||
Euro BTP |
3 | 09/08/22 | $ | 387 | $ | (10,786 | ) | |||||||||
10-Year U.S. Treasury Note |
55 | 09/21/22 | 6,510 | 62,915 | ||||||||||||
U.S. Long Bond |
4 | 09/21/22 | 552 | 4,544 | ||||||||||||
Ultra U.S. Treasury Bond |
68 | 09/21/22 | 10,495 | 173,848 | ||||||||||||
|
|
|||||||||||||||
$ | 230,521 | |||||||||||||||
|
|
Currency Purchased |
Currency Sold |
Counterparty |
Settlement Date |
Unrealized Appreciation (Depreciation) |
||||||||||||||||||||||
USD |
34,341,532 | EUR | 32,038,000 | BNP Paribas S.A. | 09/21/22 | $ | 580,460 | |||||||||||||||||||
USD |
47,540 | EUR | 45,000 | Morgan Stanley & Co. International PLC | 09/21/22 | 120 | ||||||||||||||||||||
USD |
98,403 | EUR | 93,000 | Natwest Markets PLC | 09/21/22 | 402 | ||||||||||||||||||||
USD |
195,062 | EUR | 185,000 | Natwest Markets PLC | 09/21/22 | 112 | ||||||||||||||||||||
USD |
32,976 | EUR | 31,000 | Toronto-Dominion Bank | 09/21/22 | 308 | ||||||||||||||||||||
USD |
7,140,606 | GBP | 5,694,000 | Natwest Markets PLC | 09/21/22 | 198,929 | ||||||||||||||||||||
|
|
|||||||||||||||||||||||||
780,331 | ||||||||||||||||||||||||||
|
|
72 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Currency Purchased |
Currency Sold |
Counterparty |
Settlement Date |
Unrealized Appreciation (Depreciation) |
||||||||||||||||||||||
USD |
35,758 | EUR | 34,000 | State Street Bank and Trust Co. | 09/21/22 | $ | (71 | ) | ||||||||||||||||||
USD |
9,638 | GBP | 8,000 | Commonwealth Bank of Australia | 09/21/22 | (115 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||||||||
(186 | ) | |||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||
$ | 780,145 | |||||||||||||||||||||||||
|
|
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. |
06/20/23 | B | EUR | 80 | $ | (12,008 | ) | $ | (6,938 | ) | $ | (5,070 | ) | |||||||||||||||||||
Novafives S.A.S. |
5.00 | Quarterly | Citibank N.A. |
06/20/23 | B- | EUR | 60 | (6,968 | ) | (4,009 | ) | (2,959 | ) | |||||||||||||||||||||||
Novafives S.A.S. |
5.00 | Quarterly | Goldman Sachs International |
06/20/23 | B- | EUR | 25 | (2,959 | ) | (1,679 | ) | (1,280 | ) | |||||||||||||||||||||||
Novafives S.A.S. |
5.00 | Quarterly | Goldman Sachs International |
06/20/23 | B- | EUR | 15 | (1,686 | ) | (1,025 | ) | (661 | ) | |||||||||||||||||||||||
CenturyLink, Inc. |
1.00 | Quarterly | Barclays Bank PLC |
12/20/23 | NR | USD | 856 | (24,612 | ) | (20,391 | ) | (4,221 | ) | |||||||||||||||||||||||
CenturyLink, Inc. |
1.00 | Quarterly | Barclays Bank PLC |
06/20/25 | NR | USD | 1,221 | (109,524 | ) | (101,832 | ) | (7,692 | ) | |||||||||||||||||||||||
Faurecia SE |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/25 | BB | EUR | 20 | 200 | 924 | (724 | ) | |||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Morgan Stanley & Co. International PLC |
12/20/25 | CCC | EUR 60 | (19,349 | ) | 7,341 | (26,690 | ) | |||||||||||||||||||||||||
Virgin Media Finance PLC |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/25 | B | EUR | 70 | 1,798 | 6,632 | (4,834 | ) | |||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/26 | NR | EUR | 50 | (16,400 | ) | 4,179 | (20,579 | ) | ||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/26 | NR | EUR | 50 | (16,400 | ) | 4,694 | (21,094 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Credit Suisse International |
06/20/26 | BB+ | EUR | 30 | (427 | ) | 1,254 | (1,681 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Goldman Sachs International |
06/20/26 | BB+ | EUR | 20 | (285 | ) | 1,508 | (1,793 | ) | ||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Citibank N.A. |
12/20/26 | CCC | EUR | 20 | (6,657 | ) | 441 | (7,098 | ) | ||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Goldman Sachs International |
12/20/26 | CCC | EUR | 10 | (3,329 | ) | (21 | ) | (3,308 | ) | |||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/26 | CCC | EUR | 40 | (13,314 | ) | — | (13,314 | ) | ||||||||||||||||||||||||
Adler Real Estate AG |
5.00 | Quarterly | Morgan Stanley & Co. International PLC |
12/20/26 | CCC | EUR 10 | (3,329 | ) | 42 | (3,371 | ) | |||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/26 | BB+ | EUR | 100 | (2,952 | ) | 3,973 | (6,925 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Bank of America N.A. |
12/20/26 | B+ | EUR | 50 | (8,127 | ) | (1,953 | ) | (6,174 | ) | |||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Barclays Bank PLC |
12/20/26 | B+ | EUR | 41 | (6,601 | ) | 1,588 | (8,189 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Credit Suisse International |
12/20/26 | B+ | EUR | 39 | (6,416 | ) | 1,633 | (8,049 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Credit Suisse International |
12/20/26 | B+ | EUR | 55 | (8,940 | ) | 2,115 | (11,055 | ) | ||||||||||||||||||||||||
Jaguar Land Rover Automotive PLC |
5.00 | Quarterly | Morgan Stanley & Co. International PLC |
12/20/26 | B+ | EUR 55 | (8,940 | ) | 2,507 | (11,447 | ) | |||||||||||||||||||||||||
K&S AG |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
12/20/26 | BB | EUR | 90 | 7,429 | 7,244 | 185 | ||||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Barclays Bank PLC |
06/20/27 | BB+ | EUR | 10 | (440 | ) | 317 | (757 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Credit Suisse International |
06/20/27 | BB+ | EUR | 180 | (7,814 | ) | 8,213 | (16,027 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | Credit Suisse International |
06/20/27 | BB+ | EUR | 56 | (2,428 | ) | 1,882 | (4,310 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB+ | EUR | 56 | (2,439 | ) | 2,048 | (4,487 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB+ | EUR | 53 | (2,293 | ) | 1,925 | (4,218 | ) | ||||||||||||||||||||||||
CMA CGM SA |
5.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB+ | EUR | 15 | (649 | ) | 539 | (1,188 | ) | ||||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB | EUR | 180 | (30,056 | ) | (31,846 | ) | 1,790 | ||||||||||||||||||||||||
Ladbrokes Coral Group Ltd. |
1.00 | Quarterly | JPMorgan Chase Bank N.A. |
06/20/27 | BB | EUR | 50 | (8,349 | ) | (5,545 | ) | (2,804 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
$ | (324,264 | ) | $ | (114,240 | ) | $ | (210,024 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
(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. |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Paid by the Trust |
Received by the Trust |
Effective Date |
Termination Date |
Notional Amount (000) |
|
Upfront Premium Paid (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||||||||||||||||||
Rate |
Frequency |
Reference |
Frequency |
Counterparty |
Value |
|||||||||||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 09/20/22 | USD | 6,125 | $ | (811,135 | ) | $ | (135 | ) | $ | (811,000 | ) | |||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 09/20/22 | USD | 3,546 | (464,913 | ) | (83 | ) | (464,830 | ) | ||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | JPMorgan Chase Bank N.A. | N/A | 12/20/22 | USD | 1,000 | (133,477 | ) | (23 | ) | (133,454 | ) | ||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 12/20/22 | USD | 3,084 | (413,076 | ) | (72 | ) | (413,004 | ) | ||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 12/20/22 | USD | 2,859 | (390,659 | ) | (67 | ) | (390,592 | ) | ||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 12/20/22 | USD | 1,513 | (186,975 | ) | (69 | ) | (186,906 | ) | ||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 12/20/22 | USD | 3,071 | (181,436 | ) | (1,074 | ) | (180,362 | ) | ||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | Morgan Stanley & Co. International PLC | N/A | 12/20/22 | USD | 9,430 | (391,442 | ) | (4,334 | ) | (387,108 | ) | ||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | BNP Paribas S.A. | N/A | 03/20/23 | USD | 3,507 | (146,441 | ) | (1,686 | ) | (144,755 | ) | ||||||||||||||||||||||||||
1-Day SOFR,0.82% |
Quarterly | Markit iBoxx $ Liquid High Yield Index |
Monthly | JPMorgan Chase Bank N.A. | N/A | 03/20/23 | USD | 2,048 | (138,869 | ) | (1,645 | ) | (137,224 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
$ | (3,258,423 | ) | $ | (9,188 | ) | $ | (3,249,235 | ) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
Description |
Swap Premiums Paid |
Swap Premiums Received |
Unrealized Appreciation |
Unrealized Depreciation |
||||||||||||
OTC Swaps |
$ | 60,999 | $ | (184,427 | ) | $ | 1,975 | $ | (3,461,234 | ) |
74 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
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) |
$ | — | $ | — | $ | — | $ | — | $ | 241,307 | $ | — | $ | 241,307 | ||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on forward foreign currency exchange contracts |
— | — | — | 780,331 | — | — | 780,331 | |||||||||||||||||||||
Swaps — OTC |
||||||||||||||||||||||||||||
Unrealized appreciation on OTC swaps; Swap premiums paid |
— | 62,974 | — | — | — | — | 62,974 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 62,974 | $ | — | $ | 780,331 | $ | 241,307 | $ | — | $ | 1,084,612 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on futures contracts (a) |
$ | — | $ | — | $ | — | $ | — | $ | 10,786 | $ | — | $ | 10,786 | ||||||||||||||
Forward foreign currency exchange contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on forward foreign currency exchange contracts |
— | — | — | 186 | — | — | 186 | |||||||||||||||||||||
Swaps — OTC |
||||||||||||||||||||||||||||
Unrealized depreciation on OTC swaps; Swap premiums received |
— | 387,238 | — | — | 3,258,423 | — | 3,645,661 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 387,238 | $ | — | $ | 186 | $ | 3,269,209 | $ | — | $ | 3,656,633 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
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 |
$ | — | $ | — | $ | 308,321 | $ | — | $ | 2,981,076 | $ | — | $ | 3,289,397 | ||||||||||||||
Forward foreign currency exchange contracts |
— | — | — | 2,932,157 | — | — | 2,932,157 | |||||||||||||||||||||
Options purchased (a) |
— | (101 | ) | 516,715 | — | (5,345 | ) | — | 511,269 | |||||||||||||||||||
Options written |
— | 4,028 | (27,735 | ) | — | — | — | (23,707 | ) | |||||||||||||||||||
Swaps |
— | 61,740 | — | — | (1,410,677 | ) | — | (1,348,937 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 65,667 | $ | 797,301 | $ | 2,932,157 | $ | 1,565,054 | $ | — | $ | 5,360,179 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | — | $ | — | $ | 229,035 | $ | — | $ | 229,035 | ||||||||||||||
Forward foreign currency exchange contracts |
— | — | — | 1,218,978 | — | — | 1,218,978 | |||||||||||||||||||||
Options purchased (b) |
— | — | 9,031 | — | — | — | 9,031 | |||||||||||||||||||||
Options written |
— | — | (7,688 | ) | — | — | — | (7,688 | ) | |||||||||||||||||||
Swaps |
— | (281,626 | ) | — | — | (3,680,602 | ) | — | (3,962,228 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | (281,626 | ) | $ | 1,343 | $ | 1,218,978 | $ | (3,451,567 | ) | $ | — | $ | (2,512,872 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
$ | 21,513,856 | ||
Forward foreign currency exchange contracts: |
||||
Average amounts purchased — in USD |
$ | 45,313,952 | ||
Average amounts sold — in USD |
$ | 111,538 | ||
Options: |
||||
Average value of option contracts purchased |
$ | 163,489 |
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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
||||
Average value of option contracts written |
$ | 55,193 | ||
Average notional value of swaption contracts purchased |
$ | — (a |
) | |
Average notional value of swaption contracts written |
$ | — (a |
) | |
Credit default swaps: |
||||
Average notional value — sell protection |
$ | 3,391,427 | ||
Total return swaps: |
||||
Average notional value |
$ | 36,183,000 | ||
|
(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 |
$ | — | $ | 213,568 | ||||
Forward foreign currency exchange contracts |
780,331 | 186 | ||||||
Swaps — OTC (a) |
62,974 | 3,645,661 | ||||||
|
|
|
|
|||||
Total derivative assets and liabilities in the Consolidated Statements of Assets and Liabilities |
843,305 | 3,859,415 | ||||||
|
|
|
|
|||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) |
— | (213,568 | ) | |||||
|
|
|
|
|||||
Total derivative assets and liabilities subject to an MNA |
$ | 843,305 | $ | 3,645,847 | ||||
|
|
|
|
(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) | |||||||||||||
Barclays Bank PLC |
$ | 1,905 | $ | (1,905 | ) | $ | — | $ | — | $ | — | |||||||||
BNP Paribas S.A. |
580,460 | (146,441 | ) | — | — | 434,019 | ||||||||||||||
Citibank N.A. |
441 | (441 | ) | — | — | — | ||||||||||||||
Credit Suisse International |
15,097 | (15,097 | ) | — | — | — | ||||||||||||||
Goldman Sachs International |
1,508 | (1,508 | ) | — | — | — | ||||||||||||||
JPMorgan Chase Bank N.A. |
34,133 | (34,133 | ) | — | — | — | ||||||||||||||
Morgan Stanley & Co. International PLC |
10,010 | (10,010 | ) | — | — | — | ||||||||||||||
Natwest Markets PLC |
199,443 | — | — | — | 199,443 | |||||||||||||||
Toronto-Dominion Bank |
308 | — | — | — | 308 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 843,305 | $ | (209,535 | ) | $ | — | $ | — | $ | 633,770 | ||||||||||
|
|
|
|
|
|
|
|
|
|
Counterparty |
Derivative Liabilities Subject to an MNA by Counterparty |
Derivatives Available for Offset |
(a) |
Non-Cash Collateral Pledged |
Cash Collateral Pledged |
Net Amount of Derivative Liabilities |
(c)(d) | |||||||||||||
Bank of America N.A. |
$ | 8,127 | $ | — | $ | — | $ | — | $ | 8,127 | ||||||||||
Barclays Bank PLC |
143,082 | (1,905 | ) | — | — | 141,177 | ||||||||||||||
BNP Paribas S.A. |
146,441 | (146,441 | ) | — | — | — | ||||||||||||||
Citibank N.A. |
14,066 | (441 | ) | — | — | 13,625 | ||||||||||||||
Commonwealth Bank of Australia |
115 | — | — | — | 115 | |||||||||||||||
Credit Suisse International |
41,122 | (15,097 | ) | — | — | 26,025 | ||||||||||||||
Goldman Sachs International |
9,767 | (1,508 | ) | — | — | 8,259 | ||||||||||||||
JPMorgan Chase Bank N.A. |
401,912 | (34,133 | ) | — | (270,000 | ) | 97,779 |
76 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Counterparty |
Derivative Liabilities Subject to an MNA by Counterparty |
Derivatives Available for Offset |
(a) |
Non-Cash Collateral Pledged |
Cash Collateral Pledged |
Net Amount of Derivative Liabilities |
(c)(d) | |||||||||||||
Morgan Stanley & Co. International PLC |
$ | 2,881,144 | $ | (10,010 | ) | $ | — | $ | (2,410,000 | ) | $ | 461,134 | ||||||||
State Street Bank and Trust Co |
71 | — | — | — | 71 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
$ | 3,645,847 | $ | (209,535 | ) | $ | — | $ | (2,680,000 | ) | $ | 756,312 | |||||||||
|
|
|
|
|
|
|
|
|
|
(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 represents the net amount receivable from the counterparty in the event of default. |
(c) |
Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized. |
(d) |
Net amount represents the net amount payable due to counterparty in the event of default. |
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Asset-Backed Securities |
$ |
— |
$ |
2,871,767 |
$ |
— |
$ |
2,871,767 |
||||||||
Common Stocks |
||||||||||||||||
Building Products |
18,749 |
— |
— |
18,749 |
||||||||||||
Chemicals |
2,670,189 |
— |
— |
2,670,189 |
||||||||||||
Communications Equipment |
293,491 |
— |
— |
293,491 |
||||||||||||
Consumer Finance |
33 |
— |
— |
33 |
||||||||||||
Containers & Packaging |
— |
992,141 |
— |
992,141 |
||||||||||||
Diversified Financial Services |
— |
— |
22,236 |
22,236 |
||||||||||||
Diversified Telecommunication Services |
39,132 |
— |
— |
39,132 |
||||||||||||
Electrical Equipment |
918,156 |
— |
— |
918,156 |
||||||||||||
Equity Real Estate Investment Trusts (REITs) |
698,310 |
— |
— |
698,310 |
||||||||||||
IT Services |
494,945 |
— |
— |
494,945 |
||||||||||||
Life Sciences Tools & Services |
3,118,218 |
— |
— |
3,118,218 |
||||||||||||
Media |
516,723 |
— |
— |
516,723 |
||||||||||||
Metals & Mining |
1,836,098 |
— |
— |
1,836,098 |
||||||||||||
Oil, Gas & Consumable Fuels |
8,618,988 |
— |
— |
8,618,988 |
||||||||||||
Road & Rail |
948,792 |
— |
— |
948,792 |
||||||||||||
Semiconductors & Semiconductor Equipment |
17,906 |
— |
— |
17,906 |
||||||||||||
Software |
1,751,077 |
— |
— |
1,751,077 |
||||||||||||
Corporate Bonds |
||||||||||||||||
Aerospace & Defense |
— |
53,745,992 |
— |
53,745,992 |
||||||||||||
Airlines |
140,807 |
30,595,374 |
— |
30,736,181 |
||||||||||||
Auto Components |
— |
25,850,771 |
— |
25,850,771 |
||||||||||||
Automobiles |
— |
27,330,367 |
— |
27,330,367 |
||||||||||||
Banks |
— |
8,167,662 |
167,148 |
8,334,810 |
||||||||||||
Beverages |
— |
22,686,465 |
— |
22,686,465 |
||||||||||||
Biotechnology |
— |
452,843 |
— |
452,843 |
||||||||||||
Building Materials |
— |
10,477,697 |
— |
10,477,697 |
||||||||||||
Building Products |
— |
16,224,476 |
— |
16,224,476 |
||||||||||||
Capital Markets |
— |
18,210,488 |
43,538 |
18,254,026 |
||||||||||||
Chemicals |
— |
35,543,000 |
— |
35,543,000 |
||||||||||||
Commercial Services & Supplies |
— |
18,565,549 |
— |
18,565,549 |
||||||||||||
Communications Equipment |
— |
10,862,633 |
— |
10,862,633 |
||||||||||||
Construction Materials |
— |
5,858,053 |
— |
5,858,053 |
||||||||||||
Consumer Discretionary |
— |
28,466,644 |
— |
28,466,644 |
||||||||||||
Consumer Finance |
68,217 |
33,283,646 |
— |
33,351,863 |
||||||||||||
Containers & Packaging |
— |
9,941,584 |
— |
9,941,584 |
||||||||||||
Diversified Consumer Services |
— |
28,413,441 |
— |
28,413,441 |
||||||||||||
Diversified Financial Services |
— |
17,266,440 |
— |
17,266,440 |
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 |
77 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Corporate Bonds (continued) |
||||||||||||||||
Diversified Telecommunication Services |
$ |
— |
$ |
48,126,482 |
$ |
— |
$ |
48,126,482 |
||||||||
Electric Utilities |
— |
8,816,370 |
— |
8,816,370 |
||||||||||||
Electrical Equipment |
— |
2,625,543 |
— |
2,625,543 |
||||||||||||
Electronic Equipment, Instruments & Components |
— |
9,150,061 |
— |
9,150,061 |
||||||||||||
Energy Equipment & Services |
— |
7,077,690 |
— |
7,077,690 |
||||||||||||
Entertainment |
— |
2,670,413 |
— |
2,670,413 |
||||||||||||
Environmental, Maintenance & Security Service |
— |
12,716,673 |
— |
12,716,673 |
||||||||||||
Equity Real Estate Investment Trusts (REITs) |
— |
14,879,369 |
— |
14,879,369 |
||||||||||||
Food & Staples Retailing |
— |
23,801,896 |
— |
23,801,896 |
||||||||||||
Food Products |
— |
11,003,222 |
— |
11,003,222 |
||||||||||||
Gas Utilities |
— |
456,651 |
— |
456,651 |
||||||||||||
Health Care Equipment & Supplies |
— |
6,132,717 |
— |
6,132,717 |
||||||||||||
Health Care Providers & Services |
— |
57,332,947 |
— |
57,332,947 |
||||||||||||
Health Care Technology |
— |
18,218,888 |
— |
18,218,888 |
||||||||||||
Hotels, Restaurants & Leisure |
67,982 |
63,493,386 |
— |
63,561,368 |
||||||||||||
Household Durables |
— |
15,698,397 |
— |
15,698,397 |
||||||||||||
Household Products |
— |
534,513 |
— |
534,513 |
||||||||||||
Independent Power and Renewable Electricity Producers |
— |
8,556,555 |
— |
8,556,555 |
||||||||||||
Insurance |
— |
30,353,709 |
— |
30,353,709 |
||||||||||||
Interactive Media & Services |
— |
8,230,526 |
— |
8,230,526 |
||||||||||||
Internet & Direct Marketing Retail |
— |
206,775 |
— |
206,775 |
||||||||||||
Internet Software & Services |
— |
17,307,254 |
— |
17,307,254 |
||||||||||||
IT Services |
— |
24,975,670 |
— |
24,975,670 |
||||||||||||
Leisure Products |
— |
3,085,234 |
— |
3,085,234 |
||||||||||||
Machinery |
— |
15,006,711 |
— |
15,006,711 |
||||||||||||
Media |
— |
155,432,744 |
— |
155,432,744 |
||||||||||||
Metals & Mining |
— |
33,823,762 |
— |
33,823,762 |
||||||||||||
Mortgage Real Estate Investment Trusts (REITs) |
— |
155,234 |
— |
155,234 |
||||||||||||
Multiline Retail |
— |
4,309,358 |
— |
4,309,358 |
||||||||||||
Offshore Drilling & Other Services |
— |
1,105,806 |
— |
1,105,806 |
||||||||||||
Oil, Gas & Consumable Fuels |
642,302 |
179,163,671 |
— |
179,805,973 |
||||||||||||
Personal Products |
— |
372,438 |
— |
372,438 |
||||||||||||
Pharmaceuticals |
— |
14,320,504 |
— |
14,320,504 |
||||||||||||
Real Estate |
— |
937,475 |
— |
937,475 |
||||||||||||
Real Estate Management & Development |
— |
7,499,340 |
— |
7,499,340 |
||||||||||||
Road & Rail |
— |
1,933,245 |
— |
1,933,245 |
||||||||||||
Semiconductors & Semiconductor Equipment |
238,265 |
13,715,758 |
— |
13,954,023 |
||||||||||||
Software |
— |
25,163,923 |
— |
25,163,923 |
||||||||||||
Specialty Retail |
— |
8,426,820 |
— |
8,426,820 |
||||||||||||
Technology Hardware, Storage & Peripherals |
— |
1,654,260 |
— |
1,654,260 |
||||||||||||
Textiles, Apparel & Luxury Goods |
181,530 |
2,514,303 |
— |
2,695,833 |
||||||||||||
Thrifts & Mortgage Finance |
— |
5,701,156 |
— |
5,701,156 |
||||||||||||
Transportation |
— |
193,031 |
— |
193,031 |
||||||||||||
Transportation Infrastructure |
— |
356,356 |
— |
356,356 |
||||||||||||
Utilities |
— |
3,771,364 |
— |
3,771,364 |
||||||||||||
Wireless Telecommunication Services |
— |
21,880,321 |
— |
21,880,321 |
||||||||||||
Floating Rate Loan Interests |
— |
218,030,656 |
26,004,676 |
244,035,332 |
||||||||||||
Preferred Securities |
||||||||||||||||
Capital Trusts |
— |
20,522,369 |
— |
20,522,369 |
||||||||||||
Preferred Stocks |
1,351,073 |
— |
12,785,219 |
14,136,292 |
||||||||||||
Short-Term Securities |
||||||||||||||||
Money Market Funds |
2,647,274 |
— |
— |
2,647,274 |
||||||||||||
Liabilities |
||||||||||||||||
Unfunded Floating Rate Loan Interests (a) |
— |
(114,763 |
) |
— |
(114,763 |
) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ |
27,278,257 |
$ |
1,537,133,816 |
$ |
39,022,817 |
1,603,434,890 |
||||||||||
|
|
|
|
|
|
|
|
|||||||||
Investments Valued at NAV (b) |
12,581 |
|||||||||||||||
|
|
|||||||||||||||
$ |
1,603,447,471 |
|||||||||||||||
|
|
|||||||||||||||
Derivative Financial Instruments (c) |
||||||||||||||||
Assets |
||||||||||||||||
Credit Contracts |
$ |
— |
$ |
1,975 |
$ |
— |
$ |
1,975 |
78 |
2 0 2 2 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, 2022 |
BlackRock Corporate High Yield Fund, Inc. (HYT) |
|
||||||||||||||||
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
|
||||||||||||||||
Assets (continued) |
||||||||||||||||
Foreign Currency Exchange Contracts |
$ | — | $ | 780,331 | $ | — | $ | 780,331 | ||||||||
Interest Rate Contracts |
241,307 | — | — | 241,307 | ||||||||||||
Liabilities |
||||||||||||||||
Credit Contracts |
— | (211,999 | ) | — | (211,999 | ) | ||||||||||
Foreign Currency Exchange Contracts |
— | (186 | ) | — | (186 | ) | ||||||||||
Interest Rate Contracts |
(10,786 | ) | (3,249,235 | ) | — | (3,260,021 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 230,521 | $ | (2,679,114) | $ | — | $ | (2,448,593) | |||||||||
|
|
|
|
|
|
|
|
(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 per share 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 |
Corporate Bonds |
Floating Rate Loan Interests |
Preferred Stocks |
Total |
||||||||||||||||
|
||||||||||||||||||||
Assets |
||||||||||||||||||||
Opening balance, as of December 31, 2021 |
$ | 22,236 | $ | — | $ | 15,655,042 | $ | 12,823,367 | $ | 28,500,645 | ||||||||||
Transfers into Level 3 (a) |
— | 238,206 | 16,125,707 | — | 16,363,913 | |||||||||||||||
Transfers out of Level 3 (b) |
— | — | (51,527 | ) | — | (51,527 | ) | |||||||||||||
Accrued discounts/premiums |
— | — | 37,568 | — | 37,568 | |||||||||||||||
Net realized gain (loss) |
2,023 | (60,565 | ) | — | (58,542 | ) | ||||||||||||||
Net change in unrealized appreciation (depreciation) (c)(d) |
— | (27,520 | ) | (2,378,214 | ) | (38,148 | ) | (2,443,882 | ) | |||||||||||
Purchases |
— | — | 1,798,450 | — | 1,798,450 | |||||||||||||||
Sales |
— | (2,023 | ) | (5,121,785 | ) | — | (5,123,808 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Closing balance, as of June 30, 2022 |
$ | 22,236 | $ | 210,686 | $ | 26,004,676 | $ | 12,785,219 | $ | 39,022,817 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (d) |
$ | — | $ | (27,520 | ) | $ | (2,268,210 | ) | $ | (38,148 | ) | $ | (2,333,878 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
(a) |
As of December 31, 2021, the Trust used observable inputs in determining the value of certain investments. As of June 30, 2022, 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. |
(b) |
As of December 31, 2021, the Trust used significant unobservable inputs in determining the value of certain investments. As of June 30, 2022, 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. |
(c) |
Included in the related net change in unrealized appreciation (depreciation) in the Consolidated Statements of Operations. |
(d) |
Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 is generally due to investments no longer held or categorized as Level 3 at period end. |
Value |
Valuation Approach |
Unobservable Inputs |
Range of Unobservable Inputs Utilized |
(a) |
Weighted Average of Unobservable Inputs Based on Fair Value |
|||||||||||||||
Assets |
||||||||||||||||||||
Preferred Stocks |
$ | 12,785,219 | Income | Discount Rate | 13% | |||||||||||||||
Market | Revenue Multiple | 3.35x - 4.10x | 3.73x | |||||||||||||||||
|
|
|||||||||||||||||||
$ | 12,785,219 | |||||||||||||||||||
|
|
(a) |
A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value. |
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 |
79 |
Schedule of Investments (unaudited) June 30, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Asset-Backed Securities |
| |||||||
Allegro CLO II-S Ltd., Series 2014-1RA, Class B, (3 mo. LIBOR US + 2.15%), 3.25%, 10/21/28 (a)(b) |
$ | 500 | $ | 484,275 | ||||
Allegro CLO VI Ltd. (a)(b) |
||||||||
Series 2017-2A, Class B, (3 mo. LIBOR US + 1.50%), 2.54%, 01/17/31 |
360 | 340,260 | ||||||
Series 2017-2A, Class C, (3 mo. LIBOR US + 1.80%), 2.84%, 01/17/31 |
2,400 | 2,257,394 | ||||||
American Airlines, Inc., 5.18%, 08/15/23 (c) |
1,059 | 1,057,838 | ||||||
Anchorage Capital CLO 3-R Ltd. (a)(b) |
||||||||
Series 2014-3RA, Class C, (3 mo. LIBOR US + 1.85%), 3.09%, 01/28/31 |
1,000 | 949,663 | ||||||
Series 2014-3RA, Class D, (3 mo. LIBOR US + 2.60%), 3.84%, 01/28/31 |
1,000 | 898,640 | ||||||
Anchorage Capital CLO Ltd., Series 2013-1A, Class BR, (3 mo. LIBOR US + 2.15%), 3.17%, 10/13/30 (a)(b) |
1,000 | 967,533 | ||||||
Apidos CLO XV, Series 2013-15A, Class DRR, (3 mo. LIBOR US + 2.70%), 3.76%, 04/20/31 (a)(b) |
1,000 | 899,094 | ||||||
Apidos CLO XX, Series 2015-20A, Class BRR, (3 mo. LIBOR US + 1.95%), 2.99%, 07/16/31 (a)(b) |
1,000 | 948,405 | ||||||
Ares XLIX CLO Ltd., Series 2018-49A, Class D, (3 mo. LIBOR US + 3.00%), 4.14%, 07/22/30 (a)(b) |
1,000 | 928,472 | ||||||
Ares XLVII CLO Ltd., Series 2018-47A, Class D, (3 mo. LIBOR US + 2.70%), 3.74%, 04/15/30 (a)(b) |
1,500 | 1,308,550 | ||||||
Ares XLVIII CLO Ltd., Series 2018-48A, Class C, (3 mo. LIBOR US + 1.80%), 2.86%, 07/20/30 (a)(b) |
500 | 470,158 | ||||||
Ares XXXVII CLO Ltd. (a)(b) |
||||||||
Series 2015-4A, Class A3R, (3 mo. LIBOR US + 1.50%), 2.54%, 10/15/30 |
1,000 | 943,305 | ||||||
Series 2015-4A, Class BR, (3 mo. LIBOR US + 1.80%), 2.84%, 10/15/30 |
1,750 | 1,658,312 | ||||||
Atlas Senior Loan Fund XII Ltd., Series 2018-12A, Class A1, (3 mo. LIBOR US + 1.18%), 2.36%, 10/24/31 (a)(b) |
400 | 391,195 | ||||||
Atrium XV, Series 15A, Class C, (3 mo. LIBOR US + 2.20%), 3.38%, 01/23/31 (a)(b) |
250 | 238,264 | ||||||
Benefit Street Partners CLO XII Ltd., Series 2017-12A, Class B, (3 mo. LIBOR US + 2.00%), 3.04%, 10/15/30 (a)(b) |
1,000 | 950,791 | ||||||
Canyon CLO Ltd., Series 2020-3A, Class C, (3 mo. LIBOR US + 2.50%), 3.54%, 01/15/34 (a)(b) |
500 | 468,901 | ||||||
Carlyle C17 CLO Ltd., Series C17A, Class BR, (3 mo. LIBOR US + 1.85%), 3.14%, 04/30/31 (a)(b) |
1,000 | 942,176 | ||||||
CarVal CLO I Ltd., Series 2018-1A, Class D, (3 mo. LIBOR US + 2.89%), 3.93%, 07/16/31 (a)(b) |
500 | 471,117 | ||||||
CIFC Funding Ltd. (a)(b) |
||||||||
Series 2013-2A, Class A3LR, (3 mo. LIBOR US + 1.95%), 2.99%, 10/18/30 |
1,000 | 952,849 | ||||||
Series 2013-2A, Class B1LR, (3 mo. LIBOR US + 3.05%), 4.09%, 10/18/30 |
1,000 | 920,632 | ||||||
Series 2018-1A, Class C, (3 mo. LIBOR US + 1.75%), 2.79%, 04/18/31 |
1,000 | 943,755 | ||||||
Series 2018-1A, Class D, (3 mo. LIBOR US + 2.65%), 3.69%, 04/18/31 |
1,200 | 1,105,198 | ||||||
Galaxy XX CLO Ltd., Series 2015-20A, Class D1R, (3 mo. LIBOR US + 2.60%), 3.66%, 04/20/31 (a)(b) |
1,000 | 931,926 | ||||||
Generate CLO 2 Ltd. (a)(b) |
||||||||
Series 2015-1A, Class CR, (3 mo. LIBOR US + 1.85%), 2.99%, 01/22/31 |
1,500 | 1,414,435 |
Security |
Par (000) |
Value |
||||||
Asset-Backed Securities (continued) |
| |||||||
Generate CLO 2 Ltd. (a)(b) (continued) |
||||||||
Series 2015-1A, Class DR, (3 mo. LIBOR US + 2.60%), 3.74%, 01/22/31 |
$ | 1,800 | $ | 1,668,667 | ||||
Greenwood Park CLO Ltd., Series 2018-1A, Class D, (3 mo. LIBOR US + 2.50%), 3.54%, 04/15/31 (a)(b) |
1,000 | 894,575 | ||||||
Highbridge Loan Management Ltd. (a)(b) |
||||||||
Series 12A-18, Class B, (3 mo. LIBOR US + 1.85%), 2.89%, 07/18/31 |
1,250 | 1,178,707 | ||||||
Series 4A-2014, Class A2R, (3 mo. LIBOR US + 1.50%), 2.74%, 01/28/30 |
650 | 619,122 | ||||||
HPS Loan Management Ltd., Series 6A-2015, Class BR, (3 mo. LIBOR US + 1.75%), 3.11%, 02/05/31 (a)(b) |
1,500 | 1,414,076 | ||||||
Long Point Park CLO Ltd., Series 2017-1A, Class B, (3 mo. LIBOR US + 1.70%), 2.74%, 01/17/30 (a)(b) |
1,000 | 938,611 | ||||||
Madison Park Funding XIII Ltd., Series 2014-13A, Class CR2, (3 mo. LIBOR US + 1.90%), 2.94%, 04/19/30 (a)(b) |
1,000 | 965,077 | ||||||
Madison Park Funding XXVII Ltd. (a)(b) |
||||||||
Series 2018-27A, Class B, (3 mo. LIBOR US + 1.80%), 2.86%, 04/20/30 |
1,000 | 943,576 | ||||||
Series 2018-27A, Class C, (3 mo. LIBOR US + 2.60%), 3.66%, 04/20/30 |
1,000 | 911,648 | ||||||
Marble Point CLO XI Ltd., Series 2017-2A, Class B, (3 mo. LIBOR US + 1.50%), 2.54%, 12/18/30 (a)(b) |
1,000 | 942,002 | ||||||
MP CLO III Ltd., Series 2013-1A, Class CR, (3 mo. LIBOR US + 2.00%), 3.06%, 10/20/30 (a)(b) |
1,000 | 950,980 | ||||||
Neuberger Berman CLO XVIII Ltd., Series 2014-18A, Class CR2, (3 mo. LIBOR US + 3.00%), 4.10%, 10/21/30 (a)(b) |
2,700 | 2,489,150 | ||||||
Neuberger Berman CLO XXII Ltd. (a)(b) |
||||||||
Series 2016-22A, Class BR, (3 mo. LIBOR US + 1.65%), 2.69%, 10/17/30 |
400 | 383,686 | ||||||
Series 2016-22A, Class CR, (3 mo. LIBOR US + 2.20%), 3.24%, 10/17/30 |
1,000 | 953,025 | ||||||
Neuberger Berman Loan Advisers CLO 26 Ltd., Series 2017-26A, Class C, (3 mo. LIBOR US + 1.75%), 2.79%, 10/18/30 (a)(b) |
1,500 | 1,421,514 | ||||||
Neuberger Berman Loan Advisers CLO 27 Ltd., Series 2018-27A, Class D, (3 mo. LIBOR US + 2.60%), 3.64%, 01/15/30 (a)(b) |
1,000 | 922,093 | ||||||
OCP CLO Ltd. (a)(b) |
||||||||
Series 2014-6A, Class BR, (3 mo. LIBOR US + 2.15%), 3.19%, 10/17/30 |
500 | 478,257 | ||||||
Series 2016-11A, Class BR, (3 mo. LIBOR US + 2.45%), 3.66%, 10/26/30 |
1,500 | 1,443,157 | ||||||
Series 2017-14A, Class B, (3 mo. LIBOR US + 1.95%), 3.43%, 11/20/30 |
1,000 | 950,664 | ||||||
Octagon Investment Partners 26 Ltd., Series 2016-1A, Class DR, (3 mo. LIBOR US + 2.85%), 3.89%, 07/15/30 (a)(b) |
500 | 447,803 | ||||||
Octagon Investment Partners 33 Ltd., Series 2017-1A, Class C, (3 mo. LIBOR US + 2.75%), 3.81%, 01/20/31 (a)(b) |
1,000 | 915,391 | ||||||
Octagon Investment Partners 34 Ltd., Series 2017-1A, Class B1, (3 mo. LIBOR US + 1.40%), 2.46%, 01/20/30 (a)(b) |
1,000 | 952,003 |
80 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Asset-Backed Securities (continued) |
| |||||||
Octagon Investment Partners XVII Ltd. (a)(b) |
||||||||
Series 2013-1A, Class BR2, (3 mo. LIBOR US + 1.40%), 2.58%, 01/25/31 |
$ | 1,000 | $ | 948,262 | ||||
Series 2013-1A, Class CR2, (3 mo. LIBOR US + 1.70%), 2.88%, 01/25/31 |
1,000 | 937,577 | ||||||
Octagon Investment Partners XXII Ltd., Series 2014-1A, Class CRR, (3 mo. LIBOR US + 1.90%), 3.04%, 01/22/30 (a)(b) |
900 | 837,952 | ||||||
OHA Credit Partners XII Ltd., Series 2015-12A, Class DR, (3 mo. LIBOR US + 2.90%), 4.08%, 07/23/30 (a)(b) |
600 | 550,339 | ||||||
OZLM XXI Ltd., Series 2017-21A, Class B, (3 mo. LIBOR US + 1.90%), 2.96%, 01/20/31 (a)(b) |
1,800 | 1,698,452 | ||||||
Palmer Square CLO Ltd. (a)(b) |
||||||||
Series 2018-1A, Class A2, (3 mo. LIBOR US + 1.45%), 2.49%, 04/18/31 |
1,500 | 1,430,237 | ||||||
Series 2019-1A, Class CR, (3 mo. LIBOR US + 3.05%), 4.46%, 11/14/34 |
1,000 | 927,055 | ||||||
Park Avenue Institutional Advisers CLO Ltd., Series 2019-1A, Class C, (3 mo. LIBOR US + 3.85%), 5.26%, 05/15/32 (a)(b) |
1,500 | 1,402,735 | ||||||
Regatta VII Funding Ltd., Series 2016-1A, Class DR2, (3 mo. LIBOR US + 3.05%), 5.15%, 06/20/34 (a)(b) |
500 | 465,555 | ||||||
Regatta XVI Funding Ltd. (a)(b) |
||||||||
Series 2019-2A, Class C, (3 mo. LIBOR US + 2.70%), 3.74%, 01/15/33 |
1,000 | 954,068 | ||||||
Series 2019-2A, Class D, (3 mo. LIBOR US + 3.90%), 4.94%, 01/15/33 |
1,000 | 988,555 | ||||||
Rockford Tower CLO Ltd. (a)(b) |
||||||||
Series 2017-3A, Class A, (3 mo. LIBOR US + 1.19%), 2.25%, 10/20/30 |
2,000 | 1,962,414 | ||||||
Series 2017-3A, Class D, (3 mo. LIBOR US + 2.65%), 3.71%, 10/20/30 |
1,000 | 931,877 | ||||||
RR 5 Ltd., Series 2018-5A, Class C, (3 mo. LIBOR US + 3.10%), 4.14%, 10/15/31 (a)(b) |
650 | 600,923 | ||||||
Sound Point Clo XXI Ltd., Series 2018-3A, Class A1A, (3 mo. LIBOR US + 1.18%), 2.39%, 10/26/31 (a)(b) |
1,400 | 1,373,488 | ||||||
Stewart Park CLO Ltd., Series 2015-1A, Class DR, (3 mo. LIBOR US + 2.60%), 3.64%, 01/15/30 (a)(b) |
1,500 | 1,344,792 | ||||||
Tiaa CLO III Ltd., Series 2017-2A, Class A, (3 mo. LIBOR US + 1.15%), 2.19%, 01/16/31 (a)(b) |
2,500 | 2,457,971 | ||||||
TICP CLO IX Ltd., Series 2017-9A, Class A, (3 mo. LIBOR US + 1.14%), 2.20%, 01/20/31 (a)(b) |
1,000 | 983,145 | ||||||
York CLO 1 Ltd., Series 2014-1A, Class ARR, (3 mo. LIBOR US + 1.12%), 2.26%, 10/22/29 (a)(b) |
1,968 | 1,942,185 | ||||||
|
|
|||||||
Total Asset-Backed Securities — 6.4% (Cost: $73,135,682) |
|
69,364,504 | ||||||
|
|
|||||||
Corporate Bonds |
| |||||||
Advertising Agencies — 0.2% |
| |||||||
Interpublic Group of Cos., Inc., 5.40%, 10/01/48 |
2,215 | 2,158,356 | ||||||
|
|
|||||||
Aerospace & Defense — 4.1% |
||||||||
Boeing Co., 5.15%, 05/01/30 (d) |
6,775 | 6,503,174 | ||||||
Bombardier, Inc. (b) |
||||||||
7.50%, 03/15/25 |
98 | 88,567 | ||||||
7.13%, 06/15/26 |
1,322 | 1,089,963 | ||||||
7.88%, 04/15/27 |
1,347 | 1,121,256 | ||||||
6.00%, 02/15/28 |
1,121 | 840,077 |
Security |
Par (000) |
Value |
||||||
Aerospace & Defense (continued) |
| |||||||
Bombardier, Inc. (b) (continued) |
||||||||
7.45%, 05/01/34 |
$ | 137 | $ | 102,743 | ||||
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26 (b) |
516 | 410,984 | ||||||
General Dynamics Corp., 4.25%, 04/01/50 (d) |
1,260 | 1,211,508 | ||||||
Howmet Aerospace, Inc., 5.13%, 10/01/24 |
45 | 44,606 | ||||||
Moog, Inc., 4.25%, 12/15/27 (b) |
320 | 277,277 | ||||||
Northrop Grumman Corp. |
||||||||
4.03%, 10/15/47 |
2,400 | 2,131,105 | ||||||
5.25%, 05/01/50 |
3,050 | 3,228,929 | ||||||
Raytheon Technologies Corp. |
||||||||
4.63%, 11/16/48 (d) |
2,805 | 2,737,935 | ||||||
3.13%, 07/01/50 |
3,545 | 2,711,593 | ||||||
Rolls-Royce PLC, 5.75%, 10/15/27 (b) |
1,933 | 1,742,213 | ||||||
Spirit AeroSystems, Inc., 7.50%, 04/15/25 (b) |
332 | 308,345 | ||||||
TransDigm, Inc. |
||||||||
8.00%, 12/15/25 (b) |
1,596 | 1,613,939 | ||||||
6.25%, 03/15/26 (b) |
15,940 | 15,362,175 | ||||||
6.38%, 06/15/26 |
8 | 7,480 | ||||||
7.50%, 03/15/27 |
432 | 407,553 | ||||||
4.63%, 01/15/29 |
940 | 756,719 | ||||||
4.88%, 05/01/29 |
622 | 506,333 | ||||||
Triumph Group, Inc., 8.88%, 06/01/24 (b) |
1,635 | 1,647,050 | ||||||
|
|
|||||||
44,851,524 | ||||||||
Airlines — 1.7% |
||||||||
Air Canada, 3.88%, 08/15/26 (b) |
447 | 378,113 | ||||||
American Airlines Group, Inc., 5.18%, 10/15/23 (c) |
1,086 | 1,069,757 | ||||||
American Airlines, Inc., 11.75%, 07/15/25 (b) |
1,014 | 1,049,389 | ||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd. (b) |
||||||||
5.50%, 04/20/26 |
1,090 | 1,001,763 | ||||||
5.75%, 04/20/29 |
2,189 | 1,868,997 | ||||||
British Airways Pass-Through Trust, Series 2020-1, Class A, 4.25%, 05/15/34 (b) |
1,800 | 1,730,706 | ||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (b) |
531 | 475,882 | ||||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27 (b) |
2,185 | 2,146,927 | ||||||
Turkish Airlines Pass-Through Trust, Series 2015-1, Class A, 4.20%, 09/15/28 (b) |
1,803 | 1,468,279 | ||||||
United Airlines Pass-Through Trust, Series 2020-1, Class A, 5.88%, 04/15/29 (d)(e) |
5,749 | 5,648,536 | ||||||
United Airlines, Inc. (b) |
||||||||
4.38%, 04/15/26 |
1,022 | 900,556 | ||||||
4.63%, 04/15/29 |
1,228 | 1,041,675 | ||||||
|
|
|||||||
18,780,580 | ||||||||
Auto Components — 1.6% |
||||||||
Aptiv PLC, 3.10%, 12/01/51 |
2,670 | 1,721,973 | ||||||
Aptiv PLC/Aptiv Corp., 4.15%, 05/01/52 |
4,240 | 3,204,196 | ||||||
Clarios Global LP, 6.75%, 05/15/25 (b) |
497 | 492,254 | ||||||
Clarios Global LP/Clarios U.S. Finance Co. (b) |
||||||||
6.25%, 05/15/26 (d) |
4,933 | 4,748,013 | ||||||
8.50%, 05/15/27 |
7,148 | 6,908,363 | ||||||
Dornoch Debt Merger Sub, Inc., 6.63%, 10/15/29 (b) |
227 | 167,640 | ||||||
Goodyear Tire & Rubber Co. |
||||||||
5.00%, 07/15/29 |
270 | 223,602 | ||||||
5.63%, 04/30/33 |
288 | 230,653 | ||||||
|
|
|||||||
17,696,694 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Automobiles — 2.3% |
||||||||
Advance Auto Parts, Inc., 3.50%, 03/15/32 |
$ | 2,405 | $ | 2,062,594 | ||||
Allison Transmission, Inc., 5.88%, 06/01/29 (b) |
794 | 738,420 | ||||||
Asbury Automotive Group, Inc. |
||||||||
4.50%, 03/01/28 |
197 | 170,898 | ||||||
4.75%, 03/01/30 |
191 | 157,050 | ||||||
5.00%, 02/15/32 (b) |
101 | 82,568 | ||||||
Carvana Co. (b)(d) |
||||||||
5.50%, 04/15/27 |
602 | 388,493 | ||||||
4.88%, 09/01/29 |
461 | 262,127 | ||||||
Ford Motor Co. |
||||||||
7.45%, 07/16/31 (d) |
3,660 | 3,713,802 | ||||||
3.25%, 02/12/32 |
1,255 | 938,614 | ||||||
Ford Motor Credit Co. LLC |
||||||||
4.69%, 06/09/25 |
200 | 189,002 | ||||||
5.13%, 06/16/25 |
1,270 | 1,212,748 | ||||||
3.38%, 11/13/25 |
207 | 186,397 | ||||||
2.70%, 08/10/26 |
613 | 522,368 | ||||||
4.95%, 05/28/27 |
400 | 371,500 | ||||||
2.90%, 02/16/28 |
627 | 505,212 | ||||||
5.11%, 05/03/29 |
200 | 179,295 | ||||||
4.00%, 11/13/30 |
200 | 162,051 | ||||||
3.63%, 06/17/31 |
456 | 353,400 | ||||||
General Motors Co. |
||||||||
6.25%, 10/02/43 |
940 | 895,526 | ||||||
5.95%, 04/01/49 (d) |
3,455 | 3,208,361 | ||||||
Group 1 Automotive, Inc., 4.00%, 08/15/28 (b) |
78 | 65,191 | ||||||
Hyundai Capital America, 2.38%, 10/15/27 (f) |
200 | 175,937 | ||||||
Jaguar Land Rover Automotive PLC, 4.50%, 10/01/27 (f) |
500 | 374,770 | ||||||
Kia Corp., 3.50%, 10/25/27 (f) |
200 | 192,912 | ||||||
LCM Investments Holdings II LLC, 4.88%, 05/01/29 (b) |
456 | 347,062 | ||||||
Lithia Motors, Inc., 3.88%, 06/01/29 (b) |
269 | 228,483 | ||||||
Nissan Motor Co. Ltd., 4.81%, 09/17/30 (b)(d) |
7,125 | 6,329,360 | ||||||
Penske Automotive Group, Inc. |
||||||||
3.50%, 09/01/25 |
441 | 413,437 | ||||||
3.75%, 06/15/29 |
141 | 117,405 | ||||||
Sonic Automotive, Inc., 4.63%, 11/15/29 (b) |
119 | 92,202 | ||||||
TML Holdings Pte. Ltd., 4.35%, 06/09/26 (f) |
200 | 174,788 | ||||||
|
|
|||||||
24,811,973 | ||||||||
Banks — 3.3% |
||||||||
Australia & New Zealand Banking Group Ltd., (5 year CMT + 1.70%), 2.57%, 11/25/35 (a)(b)(d) |
5,445 | 4,318,201 | ||||||
Bangkok Bank PCL |
||||||||
(5 year CMT + 1.90%), 3.73%, 09/25/34 (a)(f) |
200 | 174,725 | ||||||
(5 year CMT + 2.15%), 3.47%, 09/23/36 |
200 | 166,418 | ||||||
(5 year CMT + 4.73%), 5.00% (g) |
222 | 202,131 | ||||||
Bank Negara Indonesia Persero Tbk PT, 3.75%, 03/30/26 (f) |
200 | 180,522 | ||||||
Bank of Communications Co. Ltd., (5 year CMT + 3.35%), 3.80% (a)(f)(g) |
252 | 246,645 | ||||||
Bank of East Asia Ltd., (5 year CMT + 5.53%), 5.83% (a)(f)(g) |
750 | 723,750 | ||||||
China Construction Bank Corp., (5 year CMT + 2.15%), 2.45%, 06/24/30 (a)(f) |
200 | 190,078 | ||||||
Fifth Third Bancorp, Series H, (3 mo. LIBOR US + 3.03%), 5.10% (a)(g) |
5,000 | 4,197,500 | ||||||
Industrial & Commercial Bank of China Macau Ltd., (5 year CMT + 1.65%), 2.88%, 09/12/29 (a)(f) |
200 | 194,725 | ||||||
Intesa Sanpaolo SpA(b) |
||||||||
5.71%, 01/15/26 (d) |
9,840 | 9,373,076 |
Security |
Par (000) |
Value |
||||||
Banks (continued) |
||||||||
Intesa Sanpaolo SpA (b) (continued)(1 year CMT + 2.75%), 4.95%, 06/01/42 (a) |
$ | 3,045 | $ | 2,057,320 | ||||
Kasikornbank PCL (a)(f) |
||||||||
(5 year CMT + 1.70%), 3.34%, 10/02/31 |
200 | 180,287 | ||||||
(5 year CMT + 3.34%), 4.00% (g) |
300 | 247,500 | ||||||
KB Kookmin Card Co. Ltd., 4.00%, 06/09/25 |
200 | 198,416 | ||||||
NongHyup Bank, 4.00%, 01/06/26 (f)(h) |
200 | 199,310 | ||||||
Samba Funding Ltd., 2.75%, 10/02/24 (f) |
200 | 193,287 | ||||||
Shinhan Financial Group Co. Ltd., 1.35%, 01/10/26 (f) |
200 | 182,926 | ||||||
Truist Financial Corp., Series L, (3 mo. LIBOR US + 3.10%), 4.93% (a)(g) |
5,270 | 4,515,361 | ||||||
Wells Fargo & Co. |
||||||||
5.61%, 01/15/44 (d) |
4,119 | 4,145,161 | ||||||
(SOFR + 1.51%), 3.53%, 03/24/28 (a) |
4,075 | 3,859,625 | ||||||
|
|
|||||||
35,746,964 | ||||||||
Beverages — 2.1% |
||||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46 (d) |
6,170 | 5,799,120 | ||||||
Anheuser-Busch InBev Worldwide, Inc., 5.55%, 01/23/49 (d) |
5,000 | 5,106,603 | ||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27 (b)(i) |
2,581 | 1,914,483 | ||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.00%, 09/01/29 (b) |
2,874 | 2,306,385 | ||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. (b) |
||||||||
4.13%, 08/15/26 |
811 | 687,087 | ||||||
5.25%, 08/15/27 |
225 | 160,439 | ||||||
Ball Corp. |
||||||||
5.25%, 07/01/25 |
30 | 30,021 | ||||||
2.88%, 08/15/30 |
147 | 118,321 | ||||||
3.13%, 09/15/31 |
712 | 574,328 | ||||||
Canpack SA/Canpack U.S. LLC, 3.13%, 11/01/25 (b) |
228 | 203,632 | ||||||
Crown Cork & Seal Co., Inc., 7.38%, 12/15/26 |
151 | 154,248 | ||||||
Silgan Holdings, Inc., 4.13%, 02/01/28 |
58 | 52,010 | ||||||
Trivium Packaging Finance BV (b) |
||||||||
5.50%, 08/15/26 |
2,830 | 2,673,529 | ||||||
8.50%, 08/15/27 |
3,036 | 2,846,565 | ||||||
|
|
|||||||
22,626,771 | ||||||||
Biotechnology — 0.5% |
||||||||
Baxalta, Inc., 5.25%, 06/23/45 (d) |
6,000 | 5,987,490 | ||||||
|
|
|||||||
Building Materials (b) — 0.3% |
||||||||
CP Atlas Buyer, Inc., 7.00%, 12/01/28 |
108 | 77,995 | ||||||
Jeld-Wen, Inc., 4.63%, 12/15/25 |
30 | 25,500 | ||||||
Masonite International Corp., Class C, 5.38%, 02/01/28 |
206 | 186,430 | ||||||
New Enterprise Stone & Lime Co., Inc., 5.25%, 07/15/28 |
163 | 133,992 | ||||||
SRM Escrow Issuer LLC, 6.00%, 11/01/28 |
1,212 | 1,024,419 | ||||||
Standard Industries, Inc. |
||||||||
5.00%, 02/15/27 |
303 | 270,445 | ||||||
4.38%, 07/15/30 |
1,492 | 1,176,815 | ||||||
3.38%, 01/15/31 |
214 | 157,850 | ||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 |
386 | 336,785 | ||||||
|
|
|||||||
3,390,231 | ||||||||
Building Products (b) — 0.4% |
||||||||
Advanced Drainage Systems, Inc., 6.38%, 06/15/30 |
702 | 685,552 | ||||||
LBM Acquisition LLC, 6.25%, 01/15/29 |
336 | 216,322 |
82 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Building Products (continued) |
|
|||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26 |
$ | 299 | $ | 243,091 | ||||
SRS Distribution, Inc. |
||||||||
4.63%, 07/01/28 |
982 | 859,250 | ||||||
6.13%, 07/01/29 |
912 | 719,545 | ||||||
6.00%, 12/01/29 |
911 | 715,345 | ||||||
White Cap Buyer LLC, 6.88%, 10/15/28 (d) |
1,309 | 1,047,200 | ||||||
|
|
|||||||
4,486,305 | ||||||||
Capital Markets — 1.2% |
||||||||
Charles Schwab Corp., Series H, (10 year CMT + 3.08%), 4.00% (a)(e)(g) |
5,215 | 4,014,246 | ||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (b) |
447 | 368,775 | ||||||
Dua Capital Ltd., 2.78%, 05/11/31 (f) |
200 | 163,810 | ||||||
GLP Capital LP/GLP Financing II, Inc., 3.25%, 01/15/32 |
725 | 581,066 | ||||||
Huarong Finance II Co. Ltd., 4.63%, 06/03/26 (f) |
200 | 183,000 | ||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
||||||||
4.75%, 09/15/24 |
520 | 485,320 | ||||||
6.25%, 05/15/26 |
782 | 732,077 | ||||||
5.25%, 05/15/27 |
1,803 | 1,597,169 | ||||||
4.38%, 02/01/29 |
651 | 526,112 | ||||||
Jefferies Financial Group, Inc., 5.50%, 10/18/23 (d) |
4,000 | 4,040,902 | ||||||
NFP Corp., 6.88%, 08/15/28 (b) |
764 | 630,331 | ||||||
Temasek Financial I Ltd., 2.38%, 08/02/41 (f) |
250 | 194,335 | ||||||
|
|
|||||||
13,517,143 | ||||||||
Chemicals — 2.7% |
||||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29 (b) |
1,090 | 889,843 | ||||||
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (b) |
597 | 536,464 | ||||||
CNAC HK Finbridge Co. Ltd. (f) |
||||||||
4.13%, 07/19/27 |
200 | 194,638 | ||||||
3.88%, 06/19/29 |
200 | 186,938 | ||||||
Diamond BC BV, 4.63%, 10/01/29 (b) |
1,086 | 868,474 | ||||||
DuPont de Nemours, Inc., 5.42%, 11/15/48 (d) |
7,500 | 7,447,508 | ||||||
Element Solutions, Inc., 3.88%, 09/01/28 (b) |
2,963 | 2,444,860 | ||||||
EverArc Escrow SARL, 5.00%, 10/30/29 (b) |
1,148 | 966,289 | ||||||
GC Treasury Center Co. Ltd., 2.98%, 03/18/31 (f) |
200 | 166,788 | ||||||
GCP Applied Technologies, Inc., 5.50%, 04/15/26 (b) |
299 | 297,505 | ||||||
Herens Holdco SARL, 4.75%, 05/15/28 (b) |
490 | 407,092 | ||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28 (b) |
491 | 387,890 | ||||||
Ingevity Corp., 3.88%, 11/01/28 (b) |
100 | 83,750 | ||||||
LG Chem Ltd., 1.38%, 07/07/26 (f) |
200 | 178,840 | ||||||
LYB Finance Co. BV, 8.10%, 03/15/27 (b)(d) |
6,000 | 6,855,063 | ||||||
NOVA Chemicals Corp., 4.88%, 06/01/24 (b) |
240 | 228,119 | ||||||
SCIL IV LLC/SCIL USA Holdings LLC, 5.38%, 11/01/26 (b) |
480 | 384,000 | ||||||
Scotts Miracle-Gro Co., 4.00%, 04/01/31 |
364 | 272,090 | ||||||
UPL Corp. Ltd., (5 year CMT + 3.87%), 5.25% (a)(f)(g) |
500 | 382,594 | ||||||
WESCO Distribution, Inc. (b) |
||||||||
7.13%, 06/15/25 |
1,485 | 1,481,778 | ||||||
7.25%, 06/15/28 |
1,354 | 1,339,106 | ||||||
WR Grace Holdings LLC (b) |
||||||||
5.63%, 10/01/24 |
1,493 | 1,446,433 | ||||||
5.63%, 08/15/29 |
2,611 | 1,922,349 | ||||||
|
|
|||||||
29,368,411 | ||||||||
Commercial Services & Supplies — 1.0% |
||||||||
ADT Security Corp. |
||||||||
4.13%, 06/15/23 |
174 | 170,910 |
Security |
Par (000) |
Value |
||||||
Commercial Services & Supplies (continued) |
| |||||||
ADT Security Corp. (continued) |
||||||||
4.13%, 08/01/29 (b) |
$ | 91 | $ | 73,852 | ||||
4.88%, 07/15/32 (b) |
50 | 39,801 | ||||||
AerCap Global Aviation Trust, (3 mo. LIBOR US + 4.30%), 6.50%, 06/15/45 (a)(b) |
5,000 | 4,589,217 | ||||||
APX Group, Inc., 5.75%, 07/15/29 (b) |
555 | 429,676 | ||||||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.38%, 03/01/29 (b)(d) |
73 | 60,722 | ||||||
CMB International Leasing Management Ltd., 1.88%, 08/12/25 (f) |
200 | 186,538 | ||||||
Fortress Transportation & Infrastructure Investors LLC (b) |
||||||||
6.50%, 10/01/25 |
163 | 153,792 | ||||||
5.50%, 05/01/28 |
645 | 532,392 | ||||||
Herc Holdings, Inc., 5.50%, 07/15/27 (b) |
683 | 623,511 | ||||||
Hertz Corp. (b) |
||||||||
4.63%, 12/01/26 |
249 | 208,184 | ||||||
5.00%, 12/01/29 |
177 | 136,290 | ||||||
Metis Merger Sub LLC, 6.50%, 05/15/29 (b) |
443 | 352,029 | ||||||
NESCO Holdings II, Inc., 5.50%, 04/15/29 (b) |
356 | 298,150 | ||||||
PECF USS Intermediate Holding III Corp., 8.00%, 11/15/29 (b) |
13 | 10,303 | ||||||
Prime Security Services Borrower LLC/Prime Finance, Inc. (b) |
||||||||
5.75%, 04/15/26 |
331 | 308,658 | ||||||
6.25%, 01/15/28 |
855 | 715,289 | ||||||
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29 (b) |
482 | 413,710 | ||||||
United Rentals North America, Inc. |
||||||||
4.88%, 01/15/28 |
777 | 734,638 | ||||||
5.25%, 01/15/30 |
44 | 40,810 | ||||||
Williams Scotsman International, Inc., 4.63%, 08/15/28 (b) |
541 | 461,202 | ||||||
|
|
|||||||
10,539,674 | ||||||||
Communications Equipment — 0.4% |
||||||||
Avaya, Inc., 6.13%, 09/15/28 (b) |
1,027 | 670,117 | ||||||
CommScope Technologies LLC, 6.00%, 06/15/25 (b) |
942 | 814,830 | ||||||
CommScope, Inc. (b) |
||||||||
6.00%, 03/01/26 |
591 | 544,329 | ||||||
8.25%, 03/01/27 |
83 | 65,611 | ||||||
7.13%, 07/01/28 (d) |
464 | 352,677 | ||||||
4.75%, 09/01/29 |
250 | 201,674 | ||||||
Nokia OYJ, 6.63%, 05/15/39 |
324 | 320,355 | ||||||
Viasat, Inc. (b) |
||||||||
5.63%, 09/15/25 |
731 | 591,258 | ||||||
5.63%, 04/15/27 |
243 | 210,112 | ||||||
6.50%, 07/15/28 |
287 | 197,691 | ||||||
Viavi Solutions, Inc., 3.75%, 10/01/29 (b) |
600 | 502,510 | ||||||
|
|
|||||||
4,471,164 | ||||||||
Construction Materials (b) — 0.3% |
||||||||
American Builders & Contractors Supply Co., Inc. |
||||||||
4.00%, 01/15/28 |
1,004 | 859,936 | ||||||
3.88%, 11/15/29 |
41 | 32,779 | ||||||
BCPE Empire Holdings, Inc., 7.63%, 05/01/27 |
225 | 183,169 | ||||||
H&E Equipment Services, Inc., 3.88%, 12/15/28 |
132 | 106,755 | ||||||
IAA, Inc., 5.50%, 06/15/27 |
1,054 | 981,738 | ||||||
Picasso Finance Sub, Inc., 6.13%, 06/15/25 |
823 | 802,425 | ||||||
|
|
|||||||
2,966,802 | ||||||||
Consumer Discretionary (b) — 0.8% |
||||||||
Carnival Corp. |
||||||||
10.50%, 02/01/26 (d) |
1,407 | 1,400,626 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Consumer Discretionary (continued) |
||||||||
Carnival Corp. (continued) |
||||||||
5.75%, 03/01/27 |
$ | 1,195 | $ | 863,125 | ||||
9.88%, 08/01/27 |
1,285 | 1,252,875 | ||||||
4.00%, 08/01/28 |
1,999 | 1,639,180 | ||||||
6.00%, 05/01/29 |
662 | 465,128 | ||||||
CoreLogic, Inc., 4.50%, 05/01/28 |
869 | 669,130 | ||||||
Life Time, Inc., 8.00%, 04/15/26 |
187 | 166,664 | ||||||
NCL Corp. Ltd., 5.88%, 03/15/26 |
127 | 99,681 | ||||||
NCL Finance Ltd., 6.13%, 03/15/28 |
530 | 385,575 | ||||||
Nielsen Finance LLC/Nielsen Finance Co. |
||||||||
5.63%, 10/01/28 |
768 | 713,242 | ||||||
5.88%, 10/01/30 |
400 | 367,264 | ||||||
Royal Caribbean Cruises Ltd. |
||||||||
5.50%, 08/31/26 |
241 | 178,942 | ||||||
5.50%, 04/01/28 |
579 | 402,405 | ||||||
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29 |
385 | 303,574 | ||||||
|
|
|||||||
8,907,411 | ||||||||
Consumer Finance — 1.1% |
||||||||
Block, Inc., 3.50%, 06/01/31 (b) |
2,253 | 1,795,326 | ||||||
HealthEquity, Inc., 4.50%, 10/01/29 (b) |
893 | 781,375 | ||||||
MPH Acquisition Holdings LLC, 5.50%, 09/01/28 (b) |
452 | 402,279 | ||||||
Navient Corp. |
||||||||
7.25%, 09/25/23 |
299 | 295,828 | ||||||
6.13%, 03/25/24 |
59 | 55,940 | ||||||
5.50%, 03/15/29 |
547 | 421,688 | ||||||
OneMain Finance Corp. |
||||||||
7.13%, 03/15/26 |
1,231 | 1,137,727 | ||||||
3.50%, 01/15/27 |
627 | 501,600 | ||||||
6.63%, 01/15/28 |
506 | 452,243 | ||||||
5.38%, 11/15/29 |
85 | 68,881 | ||||||
4.00%, 09/15/30 |
296 | 219,410 | ||||||
S&P Global, Inc., 3.70%, 03/01/52 (b) |
550 | 469,537 | ||||||
Sabre Global, Inc., 9.25%, 04/15/25 (b) |
578 | 556,932 | ||||||
Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26 (b) |
609 | 538,959 | ||||||
Shinhan Card Co. Ltd., 1.38%, 10/19/25 (f) |
200 | 182,840 | ||||||
Shriram Transport Finance Co. Ltd., 4.40%, 03/13/24 |
500 | 462,500 | ||||||
SLM Corp., 3.13%, 11/02/26 |
347 | 280,189 | ||||||
Verscend Escrow Corp., 9.75%, 08/15/26 (b) |
3,791 | 3,686,747 | ||||||
|
|
|||||||
12,310,001 | ||||||||
Containers & Packaging — 1.8% |
||||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC (b) |
||||||||
6.00%, 06/15/27 |
309 | 305,826 | ||||||
3.25%, 09/01/28 |
200 | 170,714 | ||||||
Clydesdale Acquisition Holdings, Inc. (b) |
||||||||
6.63%, 04/15/29 |
856 | 804,323 | ||||||
8.75%, 04/15/30 |
588 | 507,191 | ||||||
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 |
224 | 206,640 | ||||||
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 |
355 | 337,825 | ||||||
Graphic Packaging International LLC, 3.50%, 03/01/29 (b) |
264 | 221,680 | ||||||
International Paper Co. (d) |
||||||||
8.70%, 06/15/38 |
4,000 | 5,168,738 | ||||||
7.30%, 11/15/39 |
10,000 | 11,672,012 |
Security |
Par (000) |
Value |
||||||
Containers & Packaging (continued) |
||||||||
LABL, Inc., 5.88%, 11/01/28 (b) |
$ | 520 | $ | 419,862 | ||||
Sealed Air Corp., 4.00%, 12/01/27 (b) |
109 | 98,265 | ||||||
|
|
|||||||
19,913,076 | ||||||||
Diversified Consumer Services — 1.2% |
||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp. (b) |
||||||||
6.63%, 07/15/26 (d) |
5,419 | 4,972,637 | ||||||
9.75%, 07/15/27 |
1,306 | 1,105,320 | ||||||
6.00%, 06/01/29 |
2,301 | 1,670,921 | ||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28 (b) |
2,154 | 1,760,515 | ||||||
Clarivate Science Holdings Corp. (b) |
||||||||
3.88%, 07/01/28 |
1,290 | 1,077,806 | ||||||
4.88%, 07/01/29 |
824 | 676,504 | ||||||
Service Corp. International |
||||||||
5.13%, 06/01/29 |
468 | 440,945 | ||||||
3.38%, 08/15/30 |
585 | 478,969 | ||||||
4.00%, 05/15/31 |
716 | 611,285 | ||||||
|
|
|||||||
12,794,902 | ||||||||
Diversified Financial Services — 9.2% |
||||||||
Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28 (b) |
724 | 600,790 | ||||||
Ally Financial, Inc., Series B, (5 year CMT + 3.87%), 4.70% (a)(g) |
3,375 | 2,676,425 | ||||||
Bank of America Corp., (SOFR + 1.83%), 4.57%, 04/27/33 (a)(d) |
9,380 | 9,128,720 | ||||||
Barclays PLC (d) |
||||||||
4.84%, 05/09/28 |
4,000 | 3,848,014 | ||||||
(3 mo. LIBOR US + 1.90%), 4.97%, 05/16/29 (a) |
3,220 | 3,164,602 | ||||||
BNP Paribas S.A., (5 year CMT + 3.34%), 4.63% (a)(b)(g) |
13,999 | 10,331,236 | ||||||
BOC Aviation Ltd., 3.00%, 09/11/29 (f) |
200 | 178,100 | ||||||
Central Garden & Pet Co., 4.13%, 10/15/30 |
270 | 221,538 | ||||||
China Cinda 2020 I Management Ltd., 3.25%, 01/28/27 (f) |
200 | 186,428 | ||||||
Citigroup, Inc., 6.68%, 09/13/43 (d) |
4,125 | 4,626,623 | ||||||
CK Hutchison International 17 II Ltd., 3.25%, 09/29/27 (f) |
200 | 194,225 | ||||||
Credit Suisse AG, 6.50%, 08/08/23 (b)(d) |
6,000 | 6,000,000 | ||||||
Credit Suisse Group AG, (5 year USD Swap + 4.60%), 7.50% (a)(b)(g) |
3,250 | 3,092,498 | ||||||
Deutsche Bank AG, (SOFR + 1.87%), 2.13%, 11/24/26 (a) |
3,260 | 2,894,462 | ||||||
Doric Nimrod Air Alpha Pass-Through Trust, Series 2013-1, Class A, 5.25%, 05/30/25 (b) |
377 | 371,811 | ||||||
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24 (b)(i) |
326 | 247,278 | ||||||
Goldman Sachs Group, Inc., (SOFR + 1.85%), 3.62%, 03/15/28 (a) |
1,830 | 1,731,950 | ||||||
Intercontinental Exchange, Inc., 4.00%, 09/15/27 |
10,590 | 10,419,035 | ||||||
ION Trading Technologies SARL, 5.75%, 05/15/28 (b) |
200 | 159,958 | ||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (b) |
675 | 555,187 | ||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.25%, 02/01/27 (b) |
96 | 77,503 | ||||||
Lloyds Banking Group PLC, 4.65%, 03/24/26 (d) |
8,650 | 8,474,731 | ||||||
Manappuram Finance Ltd., 5.90%, 01/13/23 (f) |
700 | 686,000 | ||||||
Morgan Stanley, (SOFR + 2.62%), 5.30%, 04/20/37 (a) |
2,635 | 2,551,732 |
84 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Diversified Financial Services (continued) |
|
|||||||
NatWest Group PLC |
||||||||
6.10%, 06/10/23 |
$ | 2,500 | $ | 2,532,041 | ||||
6.00%, 12/19/23 (d) |
10,080 | 10,258,980 | ||||||
5.13%, 05/28/24 (d) |
5,250 | 5,273,138 | ||||||
Shriram Transport Finance Co. Ltd. (f) |
||||||||
5.95%, 10/24/22 |
200 | 197,440 | ||||||
5.10%, 07/16/23 |
229 | 219,840 | ||||||
Spectrum Brands, Inc. |
||||||||
5.75%, 07/15/25 |
1,002 | 989,377 | ||||||
5.00%, 10/01/29 (b) |
34 | 29,401 | ||||||
UBS Group AG, (1 year CMT + 1.55%), 4.49%, 05/12/26 (a)(b)(d) |
2,585 | 2,575,125 | ||||||
UniCredit SPA, (5 year CMT + 4.75%), 5.46%, 06/30/35 (a)(b) |
6,135 | 4,958,207 | ||||||
Xiaomi Best Time International Ltd., 3.38%, 04/29/30 |
200 | 166,788 | ||||||
|
|
|||||||
99,619,183 | ||||||||
Diversified Telecommunication Services — 7.1% |
||||||||
AT&T, Inc. |
||||||||
4.65%, 06/01/44 |
28 | 25,421 | ||||||
4.35%, 06/15/45 |
95 | 82,942 | ||||||
3.50%, 09/15/53 (d) |
15,960 | 12,097,657 | ||||||
Consolidated Communications, Inc., 6.50%, 10/01/28 (b) |
1,313 | 1,116,812 | ||||||
Frontier Communications Holdings LLC, 8.75%, 05/15/30 (b) |
472 | 477,187 | ||||||
Level 3 Financing, Inc. |
||||||||
5.38%, 05/01/25 |
614 | 594,702 | ||||||
4.63%, 09/15/27 (b) |
1,065 | 907,912 | ||||||
4.25%, 07/01/28 (b) |
188 | 150,635 | ||||||
3.63%, 01/15/29 (b) |
220 | 169,631 | ||||||
3.75%, 07/15/29 (b) |
181 | 139,950 | ||||||
Lumen Technologies, Inc. |
||||||||
5.63%, 04/01/25 |
1,909 | 1,810,266 | ||||||
5.13%, 12/15/26 (b) |
1,080 | 909,166 | ||||||
4.00%, 02/15/27 (b) |
1,320 | 1,116,390 | ||||||
4.50%, 01/15/29 (b) |
1,026 | 763,749 | ||||||
5.38%, 06/15/29 (b) |
988 | 782,274 | ||||||
Series U, 7.65%, 03/15/42 |
323 | 247,902 | ||||||
Series Y, 7.50%, 04/01/24 |
290 | 286,012 | ||||||
PLDT, Inc., 2.50%, 01/23/31 (f) |
200 | 165,600 | ||||||
SoftBank Group Corp., (5 year USD ICE Swap + 4.23%), 6.00% (a)(f)(g) |
300 | 267,000 | ||||||
Sprint Capital Corp. |
||||||||
6.88%, 11/15/28 |
2,935 | 3,086,211 | ||||||
8.75%, 03/15/32 |
2,015 | 2,425,012 | ||||||
Switch Ltd. (b) |
||||||||
3.75%, 09/15/28 |
677 | 669,655 | ||||||
4.13%, 06/15/29 |
1,200 | 1,187,809 | ||||||
Telecom Italia Capital SA |
||||||||
6.38%, 11/15/33 |
442 | 341,312 | ||||||
6.00%, 09/30/34 |
818 | 616,993 | ||||||
7.20%, 07/18/36 |
186 | 141,220 | ||||||
7.72%, 06/04/38 |
319 | 246,108 | ||||||
Telecom Italia SpA, 5.30%, 05/30/24 (b) |
1,062 | 1,020,423 | ||||||
Telefonica Emisiones SA, 5.21%, 03/08/47 |
5,000 | 4,431,112 | ||||||
Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 01/15/30 (b) |
325 | 224,835 | ||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 4.75%, 04/15/28 (b) |
522 | 429,288 |
Security |
Par (000) |
Value |
||||||
Diversified Telecommunication Services (continued) |
|
|||||||
Verizon Communications, Inc. (d) |
||||||||
6.40%, 09/15/33 |
$ | 9,475 | $ | 10,658,843 | ||||
6.55%, 09/15/43 |
13,225 | 15,932,354 | ||||||
5.01%, 04/15/49 |
6,998 | 7,103,726 | ||||||
Zayo Group Holdings, Inc. (b) |
||||||||
4.00%, 03/01/27 |
5,652 | 4,688,843 | ||||||
6.13%, 03/01/28 |
3,249 | 2,346,135 | ||||||
|
|
|||||||
77,661,087 | ||||||||
Electric Utilities — 4.3% |
||||||||
Dominion Energy, Inc., Series C, (5 year CMT + 3.20%), 4.35% (a)(g) |
2,020 | 1,661,450 | ||||||
Edison International, Series A, (5 year CMT + 4.70%), 5.38% (a)(g) |
6,851 | 5,566,437 | ||||||
Emera, Inc., Series 16-A, (3 mo. LIBOR US + 5.44%), 6.75%, 06/15/76 (a) |
7,500 | 7,237,275 | ||||||
FirstEnergy Corp. |
||||||||
2.65%, 03/01/30 |
612 | 504,900 | ||||||
Series B, 2.25%, 09/01/30 |
46 | 36,455 | ||||||
Series C, 3.40%, 03/01/50 |
1,065 | 721,963 | ||||||
FirstEnergy Transmission LLC, 5.45%, 07/15/44 (b) |
889 | 830,958 | ||||||
Korea Western Power Co. Ltd., 4.13%, 06/28/25 |
200 | 200,640 | ||||||
NextEra Energy Capital Holdings, Inc. (a) |
||||||||
(3 mo. LIBOR US + 2.41%), 4.80%, 12/01/77 |
5,000 | 4,098,499 | ||||||
(5 year CMT + 2.55%), 3.80%, 03/15/82 |
3,279 | 2,632,228 | ||||||
NextEra Energy Operating Partners LP (b) |
||||||||
4.25%, 07/15/24 |
712 | 681,099 | ||||||
4.25%, 09/15/24 |
26 | 24,765 | ||||||
Oncor Electric Delivery Co. LLC, 5.30%, 06/01/42 (d) |
2,750 | 2,911,674 | ||||||
Pacific Gas & Electric Co., 4.20%, 06/01/41 |
2,310 | 1,691,534 | ||||||
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 5.25%, 10/24/42 (f) |
200 | 170,975 | ||||||
PG&E Corp., 5.25%, 07/01/30 |
226 | 185,926 | ||||||
Progress Energy, Inc., 7.00%, 10/30/31 (d) |
12,000 | 13,475,517 | ||||||
Sempra Energy, (5 year CMT + 4.55%), 4.88% (a)(g) |
4,375 | 4,024,916 | ||||||
State Grid Overseas Investment BVI Ltd., 3.50%, 05/04/27 (f) |
200 | 197,986 | ||||||
|
|
|||||||
46,855,197 | ||||||||
Electrical Equipment (b) — 0.1% |
||||||||
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 |
714 | 662,235 | ||||||
GrafTech Finance, Inc., 4.63%, 12/15/28 |
296 | 239,610 | ||||||
|
|
|||||||
901,845 | ||||||||
Electronic Equipment, Instruments & Components (b) — 0.3% |
||||||||
BWX Technologies, Inc. |
||||||||
4.13%, 06/30/28 |
70 | 62,300 | ||||||
4.13%, 04/15/29 |
248 | 217,620 | ||||||
Energizer Holdings, Inc. |
||||||||
4.75%, 06/15/28 |
244 | 193,668 | ||||||
4.38%, 03/31/29 |
41 | 31,477 | ||||||
Imola Merger Corp., 4.75%, 05/15/29 |
1,384 | 1,157,937 | ||||||
Vertiv Group Corp., 4.13%, 11/15/28 |
1,351 | 1,096,904 | ||||||
|
|
|||||||
2,759,906 | ||||||||
Energy Equipment & Services — 0.3% |
||||||||
Archrock Partners LP/Archrock Partners Finance Corp. (b) |
||||||||
6.88%, 04/01/27 |
515 | 469,613 | ||||||
6.25%, 04/01/28 |
607 | 537,377 | ||||||
Petroleos Mexicanos, 6.70%, 02/16/32 |
695 | 526,462 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Energy Equipment & Services (continued) |
|
|||||||
USA Compression Partners LP/USA Compression Finance Corp. |
||||||||
6.88%, 04/01/26 |
$ | 449 | $ | 408,455 | ||||
6.88%, 09/01/27 |
549 | 487,238 | ||||||
Weatherford International Ltd. (b) |
||||||||
6.50%, 09/15/28 |
27 | 24,233 | ||||||
8.63%, 04/30/30 |
418 | 346,851 | ||||||
|
|
|||||||
2,800,229 | ||||||||
Entertainment (b) — 0.1% |
||||||||
AMC Entertainment Holdings, Inc., 7.50%, 02/15/29 |
572 | 483,340 | ||||||
Lindblad Expeditions LLC, 6.75%, 02/15/27 |
410 | 351,575 | ||||||
NCL Corp. Ltd., 7.75%, 02/15/29 |
202 | 154,530 | ||||||
|
|
|||||||
989,445 | ||||||||
Environmental, Maintenance & Security Service — 0.6% |
||||||||
Clean Harbors, Inc., 5.13%, 07/15/29 (b) |
1,278 | 1,159,785 | ||||||
Covanta Holding Corp. |
||||||||
4.88%, 12/01/29 (b) |
235 | 191,224 | ||||||
5.00%, 09/01/30 |
293 | 239,176 | ||||||
GFL Environmental, Inc. (b) |
||||||||
3.75%, 08/01/25 |
297 | 275,468 | ||||||
5.13%, 12/15/26 (d) |
2,289 | 2,188,970 | ||||||
4.00%, 08/01/28 |
235 | 193,875 | ||||||
3.50%, 09/01/28 |
504 | 432,180 | ||||||
4.75%, 06/15/29 |
603 | 498,983 | ||||||
4.38%, 08/15/29 |
123 | 99,015 | ||||||
Tervita Corp., 11.00%, 12/01/25 (b) |
182 | 197,925 | ||||||
Waste Pro USA, Inc., 5.50%, 02/15/26 (b) |
1,151 | 1,022,433 | ||||||
|
|
|||||||
6,499,034 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 0.6% |
||||||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 4.50%, 04/01/27 (b) |
364 | 301,842 | ||||||
Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27 (b) |
258 | 215,608 | ||||||
Iron Mountain, Inc. (b) |
||||||||
4.88%, 09/15/27 |
606 | 547,551 | ||||||
5.63%, 07/15/32 |
778 | 657,858 | ||||||
MPT Operating Partnership LP/MPT Finance Corp. |
||||||||
5.00%, 10/15/27 |
178 | 162,811 | ||||||
4.63%, 08/01/29 |
965 | 846,788 | ||||||
3.50%, 03/15/31 |
2,778 | 2,189,509 | ||||||
RHP Hotel Properties LP/RHP Finance Corp., 4.75%, 10/15/27 |
1,529 | 1,356,391 | ||||||
RLJ Lodging Trust LP, 4.00%, 09/15/29 (b) |
199 | 163,461 | ||||||
|
|
|||||||
6,441,819 | ||||||||
Food & Staples Retailing — 2.1% |
||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC (b) |
||||||||
3.25%, 03/15/26 |
1,296 | 1,128,752 | ||||||
4.63%, 01/15/27 |
1,885 | 1,683,908 | ||||||
5.88%, 02/15/28 |
928 | 867,337 | ||||||
4.88%, 02/15/30 |
142 | 121,813 | ||||||
CK Hutchison International 21 Ltd., 3.13%, 04/15/41 (f) |
200 | 161,866 | ||||||
Darling Ingredients, Inc., 6.00%, 06/15/30 (b) |
518 | 516,265 | ||||||
General Mills, Inc., 4.20%, 04/17/28 |
620 | 615,124 | ||||||
Kraft Heinz Foods Co. |
||||||||
4.25%, 03/01/31 |
68 | 64,661 | ||||||
5.00%, 07/15/35 |
214 | 207,160 | ||||||
7.13%, 08/01/39 (b)(d) |
4,415 | 4,945,746 | ||||||
4.63%, 10/01/39 |
100 | 87,759 | ||||||
5.00%, 06/04/42 |
12 | 10,963 |
Security |
Par (000) |
Value |
||||||
Food & Staples Retailing (continued) |
|
|||||||
Kraft Heinz Foods Co. (continued) |
||||||||
4.38%, 06/01/46 |
$ | 158 | $ | 131,678 | ||||
4.88%, 10/01/49 |
263 | 232,295 | ||||||
5.50%, 06/01/50 |
2,825 | 2,711,757 | ||||||
Lamb Weston Holdings, Inc. (b) |
||||||||
4.88%, 05/15/28 |
284 | 267,275 | ||||||
4.13%, 01/31/30 |
515 | 445,764 | ||||||
4.38%, 01/31/32 |
597 | 519,390 | ||||||
Performance Food Group, Inc., 4.25%, 08/01/29 (b) |
700 | 584,500 | ||||||
Post Holdings, Inc. (b) |
||||||||
5.63%, 01/15/28 |
428 | 406,258 | ||||||
4.63%, 04/15/30 |
596 | 502,887 | ||||||
U.S. Foods, Inc., 4.75%, 02/15/29 (b) |
595 | 520,143 | ||||||
Walmart, Inc., 5.25%, 09/01/35 (d) |
5,150 | 5,716,830 | ||||||
|
|
|||||||
22,450,131 | ||||||||
Food Products (b) — 0.5% |
||||||||
Aramark Services, Inc. |
||||||||
5.00%, 04/01/25 |
1,367 | 1,309,784 | ||||||
6.38%, 05/01/25 |
1,154 | 1,129,016 | ||||||
5.00%, 02/01/28 |
170 | 154,056 | ||||||
Chobani LLC/Chobani Finance Corp., Inc. |
||||||||
7.50%, 04/15/25 |
1,321 | 1,213,165 | ||||||
4.63%, 11/15/28 |
250 | 211,250 | ||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 3.75%, 12/01/31 |
576 | 472,543 | ||||||
Pilgrim’s Pride Corp., 3.50%, 03/01/32 |
387 | 302,344 | ||||||
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/29 |
624 | 527,530 | ||||||
|
|
|||||||
5,319,688 | ||||||||
Gas Utilities — 0.0% |
||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31 (b) |
237 | 201,539 | ||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.3% |
||||||||
Avantor Funding, Inc. (b) |
||||||||
4.63%, 07/15/28 |
2,051 | 1,880,152 | ||||||
3.88%, 11/01/29 |
396 | 346,361 | ||||||
Embecta Corp., 6.75%, 02/15/30 (b) |
255 | 229,584 | ||||||
Hologic, Inc., 3.25%, 02/15/29 (b) |
25 | 21,368 | ||||||
Medtronic, Inc., 4.63%, 03/15/45 (d) |
647 | 648,827 | ||||||
|
|
|||||||
3,126,292 | ||||||||
Health Care Providers & Services — 4.7% |
||||||||
180 Medical, Inc., 3.88%, 10/15/29 (b) |
282 | 243,930 | ||||||
AdaptHealth LLC, 5.13%, 03/01/30 (b) |
55 | 46,360 | ||||||
Aetna, Inc., 3.88%, 08/15/47 |
3,500 | 2,891,238 | ||||||
AHP Health Partners, Inc., 5.75%, 07/15/29 (b) |
580 | 426,126 | ||||||
Centene Corp. |
||||||||
2.45%, 07/15/28 |
1,241 | 1,035,044 | ||||||
4.63%, 12/15/29 |
2,027 | 1,890,177 | ||||||
3.00%, 10/15/30 |
1,873 | 1,552,249 | ||||||
2.50%, 03/01/31 |
2,740 | 2,174,902 | ||||||
2.63%, 08/01/31 |
700 | 556,850 | ||||||
CHS/Community Health Systems, Inc. (b) |
||||||||
8.00%, 03/15/26 |
1,082 | 985,367 | ||||||
5.63%, 03/15/27 |
1,072 | 907,309 | ||||||
6.00%, 01/15/29 |
812 | 672,677 | ||||||
6.13%, 04/01/30 |
564 | 344,040 | ||||||
Elevance Health, Inc., 4.55%, 03/01/48 (d) |
5,000 | 4,727,950 | ||||||
Encompass Health Corp. |
||||||||
4.50%, 02/01/28 |
106 | 90,747 |
86 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Health Care Providers & Services (continued) |
|
|||||||
Encompass Health Corp. (continued) |
||||||||
4.75%, 02/01/30 |
$ | 1,103 | $ | 924,358 | ||||
4.63%, 04/01/31 |
250 | 202,431 | ||||||
HCA, Inc. |
||||||||
5.38%, 09/01/26 |
359 | 355,979 | ||||||
5.63%, 09/01/28 |
833 | 819,418 | ||||||
5.25%, 06/15/49 |
3,500 | 3,014,376 | ||||||
Legacy LifePoint Health LLC (b) |
||||||||
6.75%, 04/15/25 |
409 | 395,343 | ||||||
4.38%, 02/15/27 |
491 | 420,698 | ||||||
LifePoint Health, Inc., 5.38%, 01/15/29 (b)(d) |
184 | 135,240 | ||||||
Medline Borrower LP, 5.25%, 10/01/29 (b) |
2,133 | 1,751,833 | ||||||
ModivCare, Inc., 5.88%, 11/15/25 (b) |
152 | 139,840 | ||||||
Molina Healthcare, Inc. (b) |
||||||||
4.38%, 06/15/28 |
659 | 588,666 | ||||||
3.88%, 11/15/30 |
491 | 419,697 | ||||||
3.88%, 05/15/32 |
509 | 426,840 | ||||||
Owens & Minor, Inc., 6.63%, 04/01/30 (b) |
246 | 224,714 | ||||||
Prime Healthcare Services, Inc., 7.25%, 11/01/25 (b) |
432 | 368,712 | ||||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/26 (b) |
72 | 70,020 | ||||||
Surgery Center Holdings, Inc. (b) |
||||||||
6.75%, 07/01/25 |
375 | 343,703 | ||||||
10.00%, 04/15/27 |
892 | 864,031 | ||||||
Teleflex, Inc. |
||||||||
4.63%, 11/15/27 |
70 | 64,575 | ||||||
4.25%, 06/01/28 (b) |
748 | 675,844 | ||||||
Tenet Healthcare Corp. |
||||||||
4.63%, 07/15/24 |
471 | 452,033 | ||||||
4.63%, 09/01/24 (b) |
882 | 846,720 | ||||||
4.88%, 01/01/26 (b)(d) |
4,122 | 3,792,240 | ||||||
6.25%, 02/01/27 (b) |
89 | 81,917 | ||||||
5.13%, 11/01/27 (b) |
2,324 | 2,091,600 | ||||||
4.63%, 06/15/28 (b) |
37 | 32,219 | ||||||
6.13%, 06/15/30 (b) |
471 | 434,535 | ||||||
UnitedHealth Group, Inc., 6.88%, 02/15/38 (d) |
10,000 | 12,383,202 | ||||||
|
|
|||||||
50,865,750 | ||||||||
Health Care Technology (b) — 0.6% |
||||||||
Catalent Pharma Solutions, Inc. |
||||||||
5.00%, 07/15/27 |
733 | 689,995 | ||||||
3.50%, 04/01/30 |
645 | 526,274 | ||||||
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25 |
601 | 585,188 | ||||||
Charles River Laboratories International, Inc. |
||||||||
4.25%, 05/01/28 |
324 | 291,053 | ||||||
3.75%, 03/15/29 |
141 | 122,367 | ||||||
4.00%, 03/15/31 |
204 | 173,899 | ||||||
IQVIA, Inc. |
||||||||
5.00%, 10/15/26 |
554 | 527,591 | ||||||
5.00%, 05/15/27 |
592 | 560,091 | ||||||
Minerva Merger Sub, Inc., 6.50%, 02/15/30 |
1,117 | 928,886 | ||||||
Syneos Health, Inc., 3.63%, 01/15/29 |
1,874 | 1,586,956 | ||||||
|
|
|||||||
5,992,300 | ||||||||
Hotels, Restaurants & Leisure — 3.0% |
||||||||
1011778 BC ULC/New Red Finance, Inc. (b) |
||||||||
5.75%, 04/15/25 |
552 | 555,215 | ||||||
3.88%, 01/15/28 |
1,493 | 1,295,805 | ||||||
4.38%, 01/15/28 |
2,509 | 2,193,619 |
Security |
Par (000) |
Value |
||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||
1011778 BC ULC/New Red Finance, Inc. (b) (continued) |
| |||||||
4.00%, 10/15/30 |
$ | 232 | $ | 186,180 | ||||
Boyd Gaming Corp. |
||||||||
4.75%, 12/01/27 |
393 | 355,665 | ||||||
4.75%, 06/15/31 (b) |
775 | 654,890 | ||||||
Boyne USA, Inc., 4.75%, 05/15/29 (b) |
508 | 439,898 | ||||||
Caesars Entertainment, Inc. (b) |
||||||||
6.25%, 07/01/25 |
3,215 | 3,098,392 | ||||||
8.13%, 07/01/27 |
3,127 | 3,021,464 | ||||||
4.63%, 10/15/29 |
1,499 | 1,165,472 | ||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25 (b) |
1,048 | 1,002,213 | ||||||
Carnival Corp., 7.63%, 03/01/26 (b) |
149 | 115,406 | ||||||
CDI Escrow Issuer, Inc., 5.75%, 04/01/30 (b) |
1,311 | 1,193,010 | ||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25 (b) |
408 | 395,760 | ||||||
Champion Path Holdings Ltd. (f) |
||||||||
4.50%, 01/27/26 |
500 | 310,000 | ||||||
4.85%, 01/27/28 |
500 | 285,875 | ||||||
Churchill Downs, Inc. (b) |
||||||||
5.50%, 04/01/27 |
1,730 | 1,643,500 | ||||||
4.75%, 01/15/28 |
442 | 393,380 | ||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc. (b) |
||||||||
4.63%, 01/15/29 |
807 | 687,967 | ||||||
6.75%, 01/15/30 |
521 | 399,867 | ||||||
Fortune Star BVI Ltd. (f) |
||||||||
6.75%, 07/02/23 |
200 | 157,175 | ||||||
5.95%, 10/19/25 |
269 | 164,090 | ||||||
5.00%, 05/18/26 |
344 | 206,400 | ||||||
Hilton Domestic Operating Co., Inc. |
||||||||
5.38%, 05/01/25 (b) |
319 | 312,620 | ||||||
5.75%, 05/01/28 (b) |
451 | 428,824 | ||||||
3.75%, 05/01/29 (b) |
239 | 202,708 | ||||||
4.88%, 01/15/30 |
1,316 | 1,189,335 | ||||||
4.00%, 05/01/31 (b) |
483 | 401,373 | ||||||
Las Vegas Sands Corp. |
||||||||
3.50%, 08/18/26 |
96 | 83,434 | ||||||
3.90%, 08/08/29 |
88 | 71,904 | ||||||
Marriott International, Inc., Series EE, 5.75%, 05/01/25 |
1,295 | 1,343,451 | ||||||
McDonald’s Corp., 4.20%, 04/01/50 (d) |
480 | 428,680 | ||||||
Melco Resorts Finance Ltd. (f) |
||||||||
5.25%, 04/26/26 |
300 | 210,000 | ||||||
5.75%, 07/21/28 |
300 | 189,000 | ||||||
5.38%, 12/04/29 |
383 | 227,885 | ||||||
MGM China Holdings Ltd., 5.88%, 05/15/26 (f) |
200 | 151,850 | ||||||
MGM Resorts International, 6.00%, 03/15/23 |
1,335 | 1,331,903 | ||||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29 (b) |
487 | 396,905 | ||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. (b) |
||||||||
5.63%, 09/01/29 |
242 | 172,294 | ||||||
5.88%, 09/01/31 |
242 | 167,951 | ||||||
Royal Caribbean Cruises Ltd., 5.38%, 07/15/27 (b) |
679 | 493,545 | ||||||
Scientific Games International, Inc. (b) |
||||||||
8.63%, 07/01/25 |
442 | 453,094 | ||||||
7.00%, 05/15/28 |
451 | 423,232 | ||||||
7.25%, 11/15/29 |
218 | 204,443 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25 (b) |
$ | 591 | $ | 598,287 | ||||
Station Casinos LLC, 4.63%, 12/01/31 (b) |
611 | 476,580 | ||||||
Studio City Finance Ltd. (f) |
||||||||
6.50%, 01/15/28 |
300 | 168,750 | ||||||
5.00%, 01/15/29 |
530 | 264,271 | ||||||
Sunny Express Enterprises Corp., 2.95%, 03/01/27 (f) |
200 | 191,330 | ||||||
Vail Resorts, Inc., 6.25%, 05/15/25 (b) |
341 | 340,581 | ||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27 (b)(d) |
602 | 515,607 | ||||||
Wynn Macau Ltd. (f) |
||||||||
4.88%, 10/01/24 |
200 | 145,124 | ||||||
5.50%, 01/15/26 |
230 | 158,987 | ||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.13%, 10/01/29 (b) |
1,103 | 868,723 | ||||||
Yum! Brands, Inc. |
||||||||
4.75%, 01/15/30 (b) |
135 | 122,513 | ||||||
3.63%, 03/15/31 |
134 | 112,560 | ||||||
|
|
|||||||
32,768,987 | ||||||||
Household Durables — 0.4% |
||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 4.88%, 02/15/30 (b) |
770 | 559,405 | ||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25 (b) |
507 | 448,229 | ||||||
Lennar Corp., 5.25%, 06/01/26 |
890 | 902,894 | ||||||
Mattamy Group Corp., 4.63%, 03/01/30 (b) |
427 | 312,058 | ||||||
Midea Investment Development Co. Ltd., 2.88%, 02/24/27 (f) |
200 | 188,346 | ||||||
NCR Corp. (b) |
||||||||
5.75%, 09/01/27 |
512 | 454,415 | ||||||
5.00%, 10/01/28 |
241 | 204,343 | ||||||
5.13%, 04/15/29 |
159 | 134,473 | ||||||
6.13%, 09/01/29 |
175 | 151,350 | ||||||
PulteGroup, Inc. |
||||||||
5.00%, 01/15/27 |
55 | 54,995 | ||||||
7.88%, 06/15/32 |
56 | 63,072 | ||||||
SWF Escrow Issuer Corp., 6.50%, 10/01/29 (b) |
684 | 459,990 | ||||||
Tempur Sealy International, Inc. (b) |
||||||||
4.00%, 04/15/29 |
471 | 379,409 | ||||||
3.88%, 10/15/31 |
344 | 258,000 | ||||||
Toll Brothers Finance Corp., 4.35%, 02/15/28 |
35 | 31,627 | ||||||
|
|
|||||||
4,602,606 | ||||||||
Independent Power and Renewable Electricity Producers — 0.8% |
||||||||
Calpine Corp. (b) |
||||||||
5.25%, 06/01/26 |
379 | 360,050 | ||||||
4.50%, 02/15/28 |
438 | 397,650 | ||||||
5.13%, 03/15/28 |
2,807 | 2,471,002 | ||||||
5.00%, 02/01/31 |
3 | 2,425 | ||||||
Clearway Energy Operating LLC (b) |
||||||||
4.75%, 03/15/28 |
630 | 566,799 | ||||||
3.75%, 01/15/32 |
307 | 243,298 | ||||||
Greenko Dutch BV, 3.85%, 03/29/26 (f) |
782 | 662,592 | ||||||
Hanwha Energy USA Holdings Corp., 4.13%, 07/05/25 (f)(h) |
200 | 200,702 | ||||||
India Green Energy Holdings, 5.38%, 04/29/24 (f) |
250 | 233,750 | ||||||
India Green Power Holdings, 4.00%, 02/22/27 (f) |
700 | 542,500 | ||||||
NRG Energy, Inc. |
||||||||
6.63%, 01/15/27 |
618 | 605,255 | ||||||
5.75%, 01/15/28 |
52 | 47,264 | ||||||
5.25%, 06/15/29 (b) |
960 | 856,800 | ||||||
3.63%, 02/15/31 (b) |
514 | 402,971 |
Security |
Par (000) |
Value |
||||||
Independent Power and Renewable Electricity Producers (continued) |
| |||||||
ReNew Power Pvt Ltd., 5.88%, 03/05/27 (f) |
$ | 200 | $ | 181,288 | ||||
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries, 4.50%, 07/14/28 (f) |
550 | 429,688 | ||||||
SMC Global Power Holdings Corp., (5 year CMT + 7.16%), 5.45% (a)(f)(g) |
300 | 270,750 | ||||||
TerraForm Power Operating LLC (b) |
||||||||
5.00%, 01/31/28 |
231 | 209,226 | ||||||
4.75%, 01/15/30 |
127 | 108,774 | ||||||
|
|
|||||||
8,792,784 | ||||||||
Insurance — 3.9% |
||||||||
Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29 (b) |
478 | 374,174 | ||||||
AIA Group Ltd., (5 year CMT + 1.76%), 2.70% (a)(f)(g) |
200 | 178,000 | ||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer (b) |
||||||||
4.25%, 10/15/27 |
88 | 76,170 | ||||||
6.75%, 10/15/27 |
2,839 | 2,519,272 | ||||||
5.88%, 11/01/29 |
127 | 105,386 | ||||||
Allstate Corp., Series B, (3 mo. LIBOR US + 2.94%), 5.75%, 08/15/53 (a)(d) |
5,000 | 4,381,250 | ||||||
AmWINS Group, Inc., 4.88%, 06/30/29 (b) |
551 | 451,226 | ||||||
Aon Global Ltd., 4.25%, 12/12/42 (d) |
6,500 | 5,600,968 | ||||||
Farmers Exchange Capital II, (3 mo. LIBOR US + 3.74%), 6.15%, 11/01/53 (a)(b) |
4,890 | 5,169,291 | ||||||
GTCR AP Finance, Inc., 8.00%, 05/15/27 (b) |
87 | 81,445 | ||||||
Hanwha Life Insurance Co. Ltd., (5 year CMT + 2.00%), 4.70% (a)(f)(g) |
200 | 199,100 | ||||||
HUB International Ltd. (b) |
||||||||
7.00%, 05/01/26 |
1,724 | 1,621,250 | ||||||
5.63%, 12/01/29 |
181 | 149,515 | ||||||
Northwestern Mutual Life Insurance Co., 6.06%, 03/30/40 (b)(d) |
12,000 | 13,080,408 | ||||||
Principal Financial Group, Inc., (3 mo. LIBOR US + 3.04%), 4.46%, 05/15/55 (a) |
5,000 | 4,475,180 | ||||||
Progressive Corp., Series B, (3 mo. LIBOR US + 2.54%), 5.38% (a)(g) |
5,000 | 4,400,000 | ||||||
|
|
|||||||
42,862,635 | ||||||||
Interactive Media & Services — 0.6% |
||||||||
Baidu, Inc., 1.63%, 02/23/27 |
200 | 177,136 | ||||||
Cablevision Lightpath LLC (b) |
||||||||
3.88%, 09/15/27 |
368 | 304,520 | ||||||
5.63%, 09/15/28 |
540 | 422,420 | ||||||
Netflix, Inc. |
||||||||
3.63%, 06/15/25 (b) |
210 | 200,208 | ||||||
5.88%, 11/15/28 |
1,698 | 1,660,152 | ||||||
5.38%, 11/15/29 (b) |
2,007 | 1,896,615 | ||||||
4.88%, 06/15/30 (b) |
461 | 421,928 | ||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc., 4.75%, 04/30/27 (b) |
614 | 505,661 | ||||||
Tencent Holdings Ltd., 3.60%, 01/19/28 (f) |
400 | 380,512 | ||||||
Twitter, Inc. (b) |
||||||||
3.88%, 12/15/27 |
766 | 722,150 | ||||||
5.00%, 03/01/30 |
192 | 182,160 | ||||||
|
|
|||||||
6,873,462 | ||||||||
Internet & Direct Marketing Retail — 0.3% |
||||||||
Alibaba Group Holding Ltd. |
||||||||
3.60%, 11/28/24 |
200 | 198,668 |
88 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Internet & Direct Marketing Retail (continued) |
| |||||||
Alibaba Group Holding Ltd. (continued) |
||||||||
3.40%, 12/06/27 |
$ | 200 | $ | 191,164 | ||||
Amazon.com, Inc., 2.70%, 06/03/60 (d) |
3,614 | 2,447,869 | ||||||
|
|
|||||||
2,837,701 | ||||||||
Internet Software & Services — 1.0% |
||||||||
ANGI Group LLC, 3.88%, 08/15/28 (b) |
582 | 443,134 | ||||||
Booking Holdings, Inc., 3.55%, 03/15/28 (d) |
3,375 | 3,252,884 | ||||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc. (b) |
||||||||
5.25%, 12/01/27 |
370 | 338,550 | ||||||
3.50%, 03/01/29 |
317 | 267,260 | ||||||
Match Group Holdings II LLC (b) |
||||||||
4.13%, 08/01/30 |
383 | 319,845 | ||||||
3.63%, 10/01/31 |
305 | 240,187 | ||||||
Uber Technologies, Inc. (b) |
||||||||
7.50%, 05/15/25 |
1,750 | 1,733,323 | ||||||
8.00%, 11/01/26 |
481 | 478,835 | ||||||
7.50%, 09/15/27 |
2,069 | 2,004,406 | ||||||
6.25%, 01/15/28 |
581 | 537,332 | ||||||
4.50%, 08/15/29 |
1,982 | 1,630,195 | ||||||
|
|
|||||||
11,245,951 | ||||||||
IT Services — 0.8% |
||||||||
Booz Allen Hamilton, Inc. (b) |
||||||||
3.88%, 09/01/28 |
561 | 496,485 | ||||||
4.00%, 07/01/29 |
945 | 823,974 | ||||||
CA Magnum Holdings |
||||||||
5.38%, 10/31/26 (b) |
964 | 833,860 | ||||||
5.38%, 10/31/26 (f) |
700 | 605,500 | ||||||
Camelot Finance SA, 4.50%, 11/01/26 (b) |
1,254 | 1,143,772 | ||||||
Condor Merger Sub, Inc., 7.38%, 02/15/30 (b) |
1,273 | 1,034,656 | ||||||
Dun & Bradstreet Corp., 5.00%, 12/15/29 (b) |
262 | 226,303 | ||||||
Fair Isaac Corp., 4.00%, 06/15/28 (b) |
393 | 348,135 | ||||||
Gartner, Inc. (b) |
||||||||
4.50%, 07/01/28 |
743 | 682,226 | ||||||
3.63%, 06/15/29 |
138 | 119,559 | ||||||
3.75%, 10/01/30 |
792 | 674,190 | ||||||
Twilio, Inc., 3.88%, 03/15/31 |
810 | 666,444 | ||||||
Wipro IT Services LLC, 1.50%, 06/23/26 (f) |
200 | 178,313 | ||||||
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29 (b) |
989 | 828,428 | ||||||
|
|
|||||||
8,661,845 | ||||||||
Leisure Products — 0.1% |
||||||||
Mattel, Inc. |
||||||||
3.75%, 04/01/29 (b) |
213 | 191,401 | ||||||
6.20%, 10/01/40 |
513 | 489,915 | ||||||
5.45%, 11/01/41 |
753 | 660,947 | ||||||
|
|
|||||||
1,342,263 | ||||||||
Machinery (b) — 0.4% |
||||||||
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25 (i) |
166 | 161,020 | ||||||
Madison IAQ LLC, 5.88%, 06/30/29 |
645 | 494,276 | ||||||
Terex Corp., 5.00%, 05/15/29 |
688 | 584,800 | ||||||
Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26 |
1,550 | 1,424,760 | ||||||
TK Elevator Holdco GmbH, 7.63%, 07/15/28 |
596 | 534,910 | ||||||
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27 |
1,747 | 1,557,564 | ||||||
|
|
|||||||
4,757,330 |
Security |
Par (000) |
Value |
||||||
Media — 9.9% |
||||||||
Altice Financing SA (b) |
||||||||
5.00%, 01/15/28 |
$ | 863 | $ | 695,440 | ||||
5.75%, 08/15/29 |
2,009 | 1,612,222 | ||||||
Altice France Holding SA, 10.50%, 05/15/27 (b) |
5,291 | 4,439,890 | ||||||
AMC Networks, Inc., 4.25%, 02/15/29 |
263 | 213,080 | ||||||
Cable One, Inc., 4.00%, 11/15/30 (b) |
521 | 427,991 | ||||||
CCO Holdings LLC/CCO Holdings Capital Corp. |
||||||||
5.13%, 05/01/27 (b)(d) |
2,592 | 2,446,200 | ||||||
5.00%, 02/01/28 (b) |
274 | 252,820 | ||||||
5.38%, 06/01/29 (b) |
1,823 | 1,629,470 | ||||||
4.75%, 03/01/30 (b) |
579 | 495,190 | ||||||
4.50%, 08/15/30 (b) |
3,257 | 2,704,216 | ||||||
4.25%, 02/01/31 (b) |
1,749 | 1,425,435 | ||||||
4.75%, 02/01/32 (b) |
593 | 485,548 | ||||||
4.50%, 05/01/32 |
341 | 276,108 | ||||||
4.50%, 06/01/33 (b) |
326 | 256,895 | ||||||
4.25%, 01/15/34 (b) |
2,197 | 1,697,182 | ||||||
Charter Communications Operating LLC/Charter Communications Operating Capital |
||||||||
6.38%, 10/23/35 |
479 | 481,737 | ||||||
6.48%, 10/23/45 (d) |
9,584 | 9,317,274 | ||||||
5.38%, 05/01/47 |
1,500 | 1,277,192 | ||||||
6.83%, 10/23/55 |
3,540 | 3,557,672 | ||||||
Clear Channel Outdoor Holdings, Inc. (b) |
||||||||
5.13%, 08/15/27 (d) |
5,585 | 4,715,583 | ||||||
7.75%, 04/15/28 |
2,155 | 1,567,913 | ||||||
7.50%, 06/01/29 (d) |
1,931 | 1,388,505 | ||||||
Comcast Corp. |
||||||||
3.75%, 04/01/40 |
545 | 477,671 | ||||||
2.99%, 11/01/63 |
5,558 | 3,790,961 | ||||||
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26 (b)(d) |
4,514 | 4,056,416 | ||||||
Cox Communications, Inc., 8.38%, 03/01/39 (b) |
5,000 | 6,493,127 | ||||||
CSC Holdings LLC |
||||||||
5.25%, 06/01/24 |
1,061 | 992,035 | ||||||
5.38%, 02/01/28 (b) |
336 | 290,640 | ||||||
7.50%, 04/01/28 (b) |
877 | 732,295 | ||||||
5.75%, 01/15/30 (b) |
406 | 295,377 | ||||||
4.13%, 12/01/30 (b) |
2,480 | 1,934,400 | ||||||
3.38%, 02/15/31 (b) |
225 | 166,345 | ||||||
4.50%, 11/15/31 (b) |
680 | 524,382 | ||||||
Directv Financing LLC/Directv Financing Co.-Obligor, Inc., 5.88%, 08/15/27 (b) |
897 | 765,204 | ||||||
Discovery Communications LLC, 4.88%, 04/01/43 |
4,000 | 3,325,942 | ||||||
DISH DBS Corp. |
||||||||
5.88%, 07/15/22 |
2,545 | 2,530,570 | ||||||
7.75%, 07/01/26 |
1,110 | 865,245 | ||||||
5.25%, 12/01/26 (b) |
2,398 | 1,879,648 | ||||||
5.75%, 12/01/28 (b) |
1,904 | 1,409,741 | ||||||
Frontier Communications Holdings LLC (b) |
||||||||
5.88%, 10/15/27 |
911 | 819,082 | ||||||
5.00%, 05/01/28 |
414 | 351,900 | ||||||
6.75%, 05/01/29 |
1,212 | 996,870 | ||||||
6.00%, 01/15/30 |
536 | 412,425 | ||||||
GCI LLC, 4.75%, 10/15/28 (b) |
251 | 217,479 | ||||||
Globe Telecom, Inc., (5 year CMT + 5.53%), 4.20% (a)(f)(g) |
700 | 651,000 | ||||||
Gray Television, Inc., 7.00%, 05/15/27 (b) |
415 | 399,437 | ||||||
iHeartCommunications, Inc. |
||||||||
6.38%, 05/01/26 |
370 | 342,696 | ||||||
5.25%, 08/15/27 (b) |
376 | 321,792 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Media (continued) |
| |||||||
iHeartCommunications, Inc. (continued) |
||||||||
4.75%, 01/15/28 (b) |
$ | 184 | $ | 151,631 | ||||
Iliad Holding SASU (b) |
||||||||
6.50%, 10/15/26 |
978 | 880,171 | ||||||
7.00%, 10/15/28 |
757 | 658,541 | ||||||
Lamar Media Corp., 4.00%, 02/15/30 |
307 | 257,773 | ||||||
LCPR Senior Secured Financing DAC (b) |
||||||||
6.75%, 10/15/27 |
860 | 802,234 | ||||||
5.13%, 07/15/29 |
1,214 | 1,013,690 | ||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23 (b)(i) |
508 | 261,446 | ||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29 (b) |
1,340 | 1,045,200 | ||||||
Live Nation Entertainment, Inc. (b) |
||||||||
4.88%, 11/01/24 |
136 | 129,880 | ||||||
6.50%, 05/15/27 |
2,379 | 2,339,556 | ||||||
4.75%, 10/15/27 |
606 | 537,231 | ||||||
3.75%, 01/15/28 |
150 | 129,375 | ||||||
Magallanes, Inc., 3.43%, 03/15/24 (b) |
1,460 | 1,431,285 | ||||||
Network i2i Ltd., (5 year CMT + 4.27%), 5.65% (a)(f)(g) |
695 | 643,222 | ||||||
Outfront Media Capital LLC/Outfront Media Capital Corp. (b) |
||||||||
5.00%, 08/15/27 |
476 | 415,905 | ||||||
4.25%, 01/15/29 |
336 | 267,664 | ||||||
4.63%, 03/15/30 |
55 | 43,333 | ||||||
Paramount Global, 5.85%, 09/01/43 |
1,300 | 1,214,553 | ||||||
Radiate Holdco LLC/Radiate Finance, Inc. (b) |
||||||||
4.50%, 09/15/26 |
1,459 | 1,258,067 | ||||||
6.50%, 09/15/28 |
3,116 | 2,408,278 | ||||||
Scripps Escrow II, Inc., 3.88%, 01/15/29 (b) |
37 | 31,007 | ||||||
Sinclair Television Group, Inc., 4.13%, 12/01/30 (b) |
817 | 648,016 | ||||||
Sirius XM Radio, Inc. (b) |
||||||||
3.13%, 09/01/26 |
1,020 | 910,075 | ||||||
5.00%, 08/01/27 |
596 | 552,802 | ||||||
4.00%, 07/15/28 |
619 | 535,435 | ||||||
5.50%, 07/01/29 |
1,008 | 918,540 | ||||||
3.88%, 09/01/31 |
601 | 478,546 | ||||||
Stagwell Global LLC, 5.63%, 08/15/29 (b) |
209 | 167,938 | ||||||
Telenet Finance Luxembourg Notes SARL, 5.50%, 03/01/28 (b) |
1,000 | 882,400 | ||||||
Time Warner Cable LLC, 6.55%, 05/01/37 |
3,519 | 3,523,486 | ||||||
Univision Communications, Inc. (b) |
||||||||
6.63%, 06/01/27 |
113 | 107,588 | ||||||
7.38%, 06/30/30 |
215 | 210,163 | ||||||
UPC Broadband Finco BV, 4.88%, 07/15/31 (b) |
934 | 761,210 | ||||||
Videotron Ltd., 3.63%, 06/15/29 (b) |
421 | 341,751 | ||||||
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (b) |
1,452 | 1,201,485 | ||||||
Walt Disney Co., 2.75%, 09/01/49 |
3,614 | 2,579,650 | ||||||
WMG Acquisition Corp., 3.88%, 07/15/30 (b) |
263 | 218,698 | ||||||
Ziggo Bonds Co. BV, 6.00%, 01/15/27 (b) |
955 | 845,175 | ||||||
Ziggo BV, 4.88%, 01/15/30 (b) |
605 | 513,005 | ||||||
|
|
|||||||
107,722,248 | ||||||||
Metals & Mining — 2.1% |
||||||||
ABJA Investment Co. Pte Ltd., 5.45%, 01/24/28 (f) |
306 | 287,640 | ||||||
Allegheny Technologies, Inc., 5.13%, 10/01/31 |
656 | 502,523 | ||||||
Arconic Corp. (b) |
||||||||
6.00%, 05/15/25 |
705 | 687,589 | ||||||
6.13%, 02/15/28 |
552 | 515,447 | ||||||
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29 (b) |
2,193 | 2,034,984 |
Security |
Par (000) |
Value |
||||||
Metals & Mining (continued) |
||||||||
Commercial Metals Co., 4.88%, 05/15/23 |
$ | 2,194 | $ | 2,180,288 | ||||
Constellium SE (b) |
||||||||
5.88%, 02/15/26 |
996 | 929,915 | ||||||
3.75%, 04/15/29 |
1,731 | 1,372,809 | ||||||
FMG Resources August 2006 Pty. Ltd., 6.13%, 04/15/32 (b) |
708 | 637,200 | ||||||
JSW Steel Ltd., 3.95%, 04/05/27 (f) |
500 | 401,250 | ||||||
Kaiser Aluminum Corp. (b) |
||||||||
4.63%, 03/01/28 |
988 | 822,530 | ||||||
4.50%, 06/01/31 |
700 | 529,816 | ||||||
Mineral Resources Ltd. (b) |
||||||||
8.00%, 11/01/27 |
214 | 208,650 | ||||||
8.50%, 05/01/30 |
218 | 214,730 | ||||||
Mongolian Mining Corp./Energy Resources LLC, 9.25%, 04/15/24 (f) |
200 | 134,600 | ||||||
New Gold, Inc., 7.50%, 07/15/27 (b) |
1,357 | 1,180,590 | ||||||
Novelis Corp. (b) |
||||||||
3.25%, 11/15/26 |
942 | 796,249 | ||||||
4.75%, 01/30/30 |
2,489 | 2,068,807 | ||||||
3.88%, 08/15/31 |
832 | 640,798 | ||||||
Periama Holdings LLC, 5.95%, 04/19/26 (f) |
200 | 178,000 | ||||||
Roller Bearing Co. of America, Inc., 4.38%, 10/15/29 (b) |
249 | 211,878 | ||||||
Southern Copper Corp., 5.88%, 04/23/45 (d) |
3,870 | 4,007,385 | ||||||
Steel Dynamics, Inc., 3.25%, 10/15/50 |
1,145 | 787,390 | ||||||
U.S. Steel Corp., 6.88%, 03/01/29 |
752 | 656,188 | ||||||
Vedanta Resources Finance II PLC (f) |
||||||||
13.88%, 01/21/24 |
400 | 356,000 | ||||||
8.95%, 03/11/25 |
200 | 158,000 | ||||||
|
|
|||||||
22,501,256 | ||||||||
Multiline Retail — 0.1% |
||||||||
Bath & Body Works, Inc., 6.88%, 11/01/35 |
456 | 370,500 | ||||||
NMG Holding Co., Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 (b) |
820 | 755,696 | ||||||
|
|
|||||||
1,126,196 | ||||||||
Offshore Drilling & Other Services — 0.1% |
||||||||
Entegris, Inc., 4.38%, 04/15/28 (b) |
176 | 155,320 | ||||||
Lam Research Corp., 4.88%, 03/15/49 |
875 | 889,328 | ||||||
|
|
|||||||
1,044,648 | ||||||||
Oil, Gas & Consumable Fuels — 14.9% |
||||||||
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26 (b) |
839 | 815,298 | ||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp. (b) |
||||||||
5.75%, 03/01/27 |
713 | 663,090 | ||||||
5.75%, 01/15/28 |
127 | 115,623 | ||||||
5.38%, 06/15/29 |
425 | 380,613 | ||||||
Apache Corp. |
||||||||
4.25%, 01/15/30 |
469 | 415,651 | ||||||
5.10%, 09/01/40 |
346 | 292,155 | ||||||
5.25%, 02/01/42 |
57 | 47,679 | ||||||
5.35%, 07/01/49 |
198 | 156,448 | ||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp. (b) |
||||||||
9.00%, 11/01/27 |
916 | 1,149,748 | ||||||
5.88%, 06/30/29 |
26 | 22,880 | ||||||
Buckeye Partners LP |
||||||||
4.13%, 03/01/25 (b) |
594 | 549,943 | ||||||
5.85%, 11/15/43 |
383 | 271,930 | ||||||
5.60%, 10/15/44 |
191 | 133,007 |
90 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Oil, Gas & Consumable Fuels (continued) |
||||||||
Callon Petroleum Co. |
||||||||
6.13%, 10/01/24 |
$ | 282 | $ | 286,343 | ||||
9.00%, 04/01/25 (b) |
2,272 | 2,408,320 | ||||||
6.38%, 07/01/26 |
178 | 164,205 | ||||||
8.00%, 08/01/28 (b) |
1,141 | 1,096,045 | ||||||
7.50%, 06/15/30 (b) |
912 | 839,168 | ||||||
Cenovus Energy, Inc. |
||||||||
5.38%, 07/15/25 |
1,186 | 1,220,696 | ||||||
5.40%, 06/15/47 |
77 | 73,962 | ||||||
Centennial Resource Production LLC, 6.88%, 04/01/27 (b) |
168 | 159,539 | ||||||
Central Parent, Inc./Central Merger Sub, Inc., 7.25%, 06/15/29 (b) |
929 | 894,162 | ||||||
Cheniere Energy Partners LP |
||||||||
4.50%, 10/01/29 |
1,299 | 1,159,617 | ||||||
4.00%, 03/01/31 |
567 | 482,120 | ||||||
3.25%, 01/31/32 (b) |
1,036 | 815,850 | ||||||
Cheniere Energy, Inc., 4.63%, 10/15/28 |
3,887 | 3,500,516 | ||||||
Chesapeake Energy Corp. (b) |
||||||||
5.88%, 02/01/29 |
80 | 75,440 | ||||||
6.75%, 04/15/29 |
1,024 | 990,239 | ||||||
CNOOC Finance 2013 Ltd., 2.88%, 09/30/29 |
200 | 184,787 | ||||||
CNOOC Petroleum North America ULC, 6.40%, 05/15/37 (d) |
2,000 | 2,221,625 | ||||||
CNX Resources Corp., 6.00%, 01/15/29 (b) |
78 | 72,868 | ||||||
Colgate Energy Partners III LLC (b) |
||||||||
7.75%, 02/15/26 |
276 | 262,375 | ||||||
5.88%, 07/01/29 (d) |
452 | 396,065 | ||||||
Comstock Resources, Inc. (b) |
||||||||
6.75%, 03/01/29 |
792 | 709,181 | ||||||
5.88%, 01/15/30 |
1,107 | 952,020 | ||||||
Coterra Energy, Inc., 4.38%, 06/01/24 (b) |
38 | 37,982 | ||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31 (b) |
1,968 | 1,675,831 | ||||||
Crescent Energy Finance LLC, 7.25%, 05/01/26 (b) |
1,096 | 997,360 | ||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. (b) |
||||||||
5.63%, 05/01/27 |
189 | 168,210 | ||||||
6.00%, 02/01/29 |
97 | 84,640 | ||||||
8.00%, 04/01/29 |
286 | 265,625 | ||||||
CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25 (b) |
1,702 | 1,599,880 | ||||||
DCP Midstream Operating LP (b) |
||||||||
6.45%, 11/03/36 |
177 | 173,460 | ||||||
6.75%, 09/15/37 |
1,218 | 1,158,622 | ||||||
Devon Energy Corp. |
||||||||
8.25%, 08/01/23 |
811 | 842,974 | ||||||
5.25%, 09/15/24 |
100 | 102,014 | ||||||
5.25%, 10/15/27 |
130 | 131,552 | ||||||
5.88%, 06/15/28 |
204 | 208,135 | ||||||
4.50%, 01/15/30 |
117 | 110,518 | ||||||
Diamondback Energy, Inc., 3.50%, 12/01/29 |
692 | 633,847 | ||||||
DT Midstream, Inc. (b) |
||||||||
4.13%, 06/15/29 |
842 | 713,595 | ||||||
4.38%, 06/15/31 |
876 | 733,650 | ||||||
Earthstone Energy Holdings LLC, 8.00%, 04/15/27 (b) |
507 | 479,749 | ||||||
eG Global Finance PLC (b) |
||||||||
6.75%, 02/07/25 |
703 | 662,848 | ||||||
8.50%, 10/30/25 |
787 | 762,406 | ||||||
Enbridge, Inc. (a) |
||||||||
(3 mo. LIBOR US + 3.64%), 6.25%, 03/01/78 |
5,000 | 4,450,693 |
Security |
Par (000) |
Value |
||||||
Oil, Gas & Consumable Fuels (continued) |
||||||||
Enbridge, Inc. (a) (continued) |
||||||||
Series 16-A, (3 mo. LIBOR US + 3.89%), 6.00%, 01/15/77 |
$ | 5,880 | $ | 5,439,254 | ||||
Endeavor Energy Resources LP/EER Finance, Inc. (b) |
||||||||
6.63%, 07/15/25 |
322 | 323,578 | ||||||
5.75%, 01/30/28 |
518 | 493,473 | ||||||
Energy Transfer LP |
||||||||
5.50%, 06/01/27 |
406 | 412,094 | ||||||
6.13%, 12/15/45 |
3,579 | 3,413,568 | ||||||
Series B, (3 mo. LIBOR US + 4.16%), 6.63% (a)(g) |
5,000 | 3,681,958 | ||||||
EnLink Midstream LLC |
||||||||
5.63%, 01/15/28 (b) |
546 | 500,828 | ||||||
5.38%, 06/01/29 |
645 | 564,509 | ||||||
EnLink Midstream Partners LP |
||||||||
4.40%, 04/01/24 |
613 | 598,377 | ||||||
4.15%, 06/01/25 |
48 | 44,682 | ||||||
4.85%, 07/15/26 |
64 | 59,040 | ||||||
5.60%, 04/01/44 |
626 | 443,341 | ||||||
5.05%, 04/01/45 |
68 | 45,985 | ||||||
5.45%, 06/01/47 |
215 | 152,164 | ||||||
Enterprise Products Operating LLC |
||||||||
4.90%, 05/15/46 (d) |
5,375 | 4,911,918 | ||||||
Series E, (3 mo. LIBOR US + 3.03%), 5.25%, 08/16/77 (a) |
4,800 | 3,987,749 | ||||||
EQM Midstream Partners LP |
||||||||
4.13%, 12/01/26 |
226 | 195,207 | ||||||
7.50%, 06/01/30 (b) |
141 | 135,451 | ||||||
4.75%, 01/15/31 (b) |
1,052 | 838,970 | ||||||
Exxon Mobil Corp., 3.45%, 04/15/51 (d) |
3,890 | 3,178,007 | ||||||
Galaxy Pipeline Assets Bidco Ltd., 2.63%, 03/31/36 (f) |
200 | 161,662 | ||||||
Genesis Energy LP/Genesis Energy Finance Corp., 7.75%, 02/01/28 |
293 | 253,460 | ||||||
GS Caltex Corp., 4.50%, 01/05/26 (h) |
200 | 199,423 | ||||||
Gulfport Energy Corp., 8.00%, 05/17/26 (b) |
53 | 51,646 | ||||||
Harbour Energy PLC, 5.50%, 10/15/26 (b) |
200 | 179,750 | ||||||
Harvest Midstream I LP, 7.50%, 09/01/28 (b) |
115 | 108,012 | ||||||
Hess Corp., 5.80%, 04/01/47 (d) |
5,000 | 4,986,549 | ||||||
Hess Midstream Operations LP, 4.25%, 02/15/30 (b) |
497 | 416,220 | ||||||
Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 11/01/28 (b) |
116 | 109,331 | ||||||
ITT Holdings LLC, 6.50%, 08/01/29 (b) |
711 | 568,800 | ||||||
Kinder Morgan, Inc. |
||||||||
7.80%, 08/01/31 |
197 | 228,880 | ||||||
7.75%, 01/15/32 (d) |
4,586 | 5,350,804 | ||||||
Kinetik Holdings LP, 5.88%, 06/15/30 (b) |
928 | 884,027 | ||||||
Marathon Petroleum Corp., 5.13%, 12/15/26 |
937 | 958,880 | ||||||
Matador Resources Co., 5.88%, 09/15/26 |
1,584 | 1,522,668 | ||||||
Medco Bell Pte. Ltd., 6.38%, 01/30/27 (f) |
300 | 253,500 | ||||||
Medco Laurel Tree Pte. Ltd., 6.95%, 11/12/28 (f) |
400 | 332,000 | ||||||
Medco Oak Tree Pte. Ltd., 7.38%, 05/14/26 (f) |
200 | 181,500 | ||||||
MPLX LP |
||||||||
5.20%, 03/01/47 |
3,500 | 3,172,804 | ||||||
4.70%, 04/15/48 (d) |
5,000 | 4,203,156 | ||||||
5.50%, 02/15/49 |
2,640 | 2,448,665 | ||||||
Murphy Oil Corp. |
||||||||
5.75%, 08/15/25 |
3 | 2,969 | ||||||
5.88%, 12/01/27 |
46 | 42,929 | ||||||
6.13%, 12/01/42 |
47 | 35,133 | ||||||
Murphy Oil USA, Inc., 4.75%, 09/15/29 |
323 | 290,719 | ||||||
Nabors Industries Ltd. (b) |
||||||||
7.25%, 01/15/26 |
139 | 123,272 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Oil, Gas & Consumable Fuels (continued) |
||||||||
Nabors Industries Ltd. (b) (continued) |
||||||||
7.50%, 01/15/28 |
$ | 354 | $ | 304,440 | ||||
Nabors Industries, Inc., 7.38%, 05/15/27 (b) |
620 | 589,000 | ||||||
New Fortress Energy, Inc. (b) |
||||||||
6.75%, 09/15/25 |
1,419 | 1,340,955 | ||||||
6.50%, 09/30/26 |
1,543 | 1,397,590 | ||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (b) |
364 | 327,600 | ||||||
NGPL PipeCo LLC, 7.77%, 12/15/37 (b) |
1,117 | 1,215,560 | ||||||
Northern Oil & Gas, Inc., 8.13%, 03/01/28 (b) |
1,330 | 1,253,525 | ||||||
NuStar Logistics LP |
||||||||
6.00%, 06/01/26 |
373 | 348,755 | ||||||
6.38%, 10/01/30 |
45 | 39,097 | ||||||
Occidental Petroleum Corp. |
||||||||
6.95%, 07/01/24 |
92 | 94,760 | ||||||
8.00%, 07/15/25 |
60 | 63,150 | ||||||
5.88%, 09/01/25 |
195 | 194,152 | ||||||
5.50%, 12/01/25 |
289 | 284,665 | ||||||
8.88%, 07/15/30 |
159 | 182,544 | ||||||
6.63%, 09/01/30 |
1,685 | 1,735,550 | ||||||
6.13%, 01/01/31 |
255 | 258,423 | ||||||
6.45%, 09/15/36 |
161 | 165,025 | ||||||
6.20%, 03/15/40 |
1,521 | 1,498,185 | ||||||
6.60%, 03/15/46 |
66 | 70,092 | ||||||
PDC Energy, Inc., 5.75%, 05/15/26 |
759 | 708,018 | ||||||
Pertamina Persero PT, 2.30%, 02/09/31 (f) |
200 | 161,844 | ||||||
Petroleos Mexicanos |
||||||||
3.50%, 01/30/23 |
5,000 | 4,906,250 | ||||||
4.63%, 09/21/23 (d) |
3,965 | 3,867,461 | ||||||
Petronas Energy Canada Ltd., 2.11%, 03/23/28 (f) |
200 | 180,500 | ||||||
Plains All American Pipeline LP, Series B, (3 mo. LIBOR US + 4.11%), 6.13% (a)(g) |
2,215 | 1,572,650 | ||||||
Qatar Energy, 2.25%, 07/12/31 (f) |
200 | 171,000 | ||||||
Range Resources Corp. |
||||||||
5.00%, 03/15/23 |
551 | 546,867 | ||||||
4.88%, 05/15/25 |
30 | 29,262 | ||||||
Reliance Industries Ltd., 2.88%, 01/12/32 (f) |
250 | 207,785 | ||||||
Rockcliff Energy II LLC, 5.50%, 10/15/29 (b) |
667 | 606,950 | ||||||
Rockies Express Pipeline LLC, 6.88%, 04/15/40 (b) |
580 | 479,950 | ||||||
Sabine Pass Liquefaction LLC |
||||||||
5.63%, 04/15/23 (d) |
10,510 | 10,609,669 | ||||||
5.75%, 05/15/24 (d) |
2,575 | 2,626,087 | ||||||
5.88%, 06/30/26 |
1,481 | 1,530,215 | ||||||
Sinopec Group Overseas Development 2017 Ltd., 3.63%, 04/12/27 (f) |
200 | 198,814 | ||||||
Sinopec Group Overseas Development 2018 Ltd., 2.30%, 01/08/31 |
200 | 174,658 | ||||||
SM Energy Co. |
||||||||
5.63%, 06/01/25 |
44 | 41,580 | ||||||
6.75%, 09/15/26 |
327 | 308,480 | ||||||
6.63%, 01/15/27 |
121 | 113,135 | ||||||
6.50%, 07/15/28 |
241 | 221,649 | ||||||
Southwestern Energy Co. |
||||||||
5.95%, 01/23/25 |
29 | 28,649 | ||||||
5.38%, 02/01/29 |
392 | 363,619 | ||||||
4.75%, 02/01/32 |
322 | 275,157 |
Security |
Par (000) |
Value |
||||||
Oil, Gas & Consumable Fuels (continued) |
||||||||
Sunoco LP/Sunoco Finance Corp. |
||||||||
6.00%, 04/15/27 |
$ | 141 | $ | 134,427 | ||||
5.88%, 03/15/28 |
317 | 289,027 | ||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. (b) |
||||||||
6.00%, 03/01/27 |
150 | 133,875 | ||||||
6.00%, 12/31/30 |
102 | 84,660 | ||||||
6.00%, 09/01/31 |
239 | 197,175 | ||||||
Tap Rock Resources LLC, 7.00%, 10/01/26 (b) |
1,368 | 1,291,691 | ||||||
TransCanada PipeLines Ltd., 4.88%, 05/15/48 (d) |
4,000 | 3,835,265 | ||||||
Transcanada Trust, (3 mo. LIBOR US + 3.53%), 5.63%, 05/20/75 (a) |
2,755 | 2,600,110 | ||||||
Transocean, Inc., 11.50%, 01/30/27 (b) |
294 | 275,957 | ||||||
Venture Global Calcasieu Pass LLC (b) |
||||||||
3.88%, 08/15/29 |
1,623 | 1,419,679 | ||||||
4.13%, 08/15/31 |
1,500 | 1,281,780 | ||||||
3.88%, 11/01/33 |
2,652 | 2,187,900 | ||||||
Vermilion Energy, Inc., 6.88%, 05/01/30 (b) |
270 | 241,650 | ||||||
Western Midstream Operating LP |
||||||||
5.45%, 04/01/44 |
12 | 9,974 | ||||||
5.30%, 03/01/48 |
945 | 761,812 | ||||||
5.50%, 08/15/48 |
117 | 95,355 | ||||||
5.75%, 02/01/50 |
1,445 | 1,160,420 | ||||||
Williams Cos., Inc. |
||||||||
4.55%, 06/24/24 |
527 | 531,175 | ||||||
8.75%, 03/15/32 |
2,478 | 3,089,314 | ||||||
5.10%, 09/15/45 (d) |
5,075 | 4,727,251 | ||||||
|
|
|||||||
162,101,525 | ||||||||
Pharmaceuticals — 3.8% |
||||||||
AbbVie, Inc. (d) |
||||||||
4.75%, 03/15/45 |
5,485 | 5,157,714 | ||||||
4.70%, 05/14/45 |
3,255 | 3,063,977 | ||||||
Bausch Health Cos., Inc. (b) |
||||||||
9.00%, 12/15/25 |
221 | 163,286 | ||||||
6.13%, 02/01/27 |
119 | 101,150 | ||||||
7.00%, 01/15/28 |
33 | 18,892 | ||||||
6.25%, 02/15/29 |
4 | 2,129 | ||||||
7.25%, 05/30/29 |
283 | 153,527 | ||||||
CVS Health Corp. (d) |
||||||||
5.13%, 07/20/45 |
3,879 | 3,736,339 | ||||||
5.05%, 03/25/48 |
8,205 | 7,854,220 | ||||||
Elanco Animal Health, Inc., 6.40%, 08/28/28 |
353 | 336,021 | ||||||
Jazz Securities DAC, 4.38%, 01/15/29 (b) |
853 | 758,758 | ||||||
Merck & Co., Inc., 6.50%, 12/01/33 (d) |
6,420 | 7,758,688 | ||||||
Option Care Health, Inc., 4.38%, 10/31/29 (b) |
380 | 325,850 | ||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV (b) |
||||||||
4.13%, 04/30/28 |
1,633 | 1,445,205 | ||||||
5.13%, 04/30/31 |
1,599 | 1,379,665 | ||||||
P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (b) |
394 | 275,820 | ||||||
PRA Health Sciences, Inc., 2.88%, 07/15/26 (b) |
1,021 | 908,690 | ||||||
Prestige Brands, Inc., 3.75%, 04/01/31 (b) |
318 | 263,686 | ||||||
Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30 (d) |
8,270 | 6,917,148 | ||||||
Teva Pharmaceutical Finance Netherlands III BV, 7.13%, 01/31/25 |
200 | 194,162 | ||||||
|
|
|||||||
40,814,927 |
92 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Real Estate — 0.0% |
||||||||
VICI Properties LP/VICI Note Co., Inc., 4.50%, 01/15/28 (b) |
$ | 430 | $ | 391,857 | ||||
|
|
|||||||
Real Estate Management & Development — 1.3% |
||||||||
Agile Group Holdings Ltd. (f) |
||||||||
5.75%, 01/02/25 |
200 | 68,000 | ||||||
6.05%, 10/13/25 |
200 | 65,000 | ||||||
AYC Finance Ltd., 3.90% (f)(g) |
300 | 232,500 | ||||||
China Aoyuan Group Ltd. (f)(j)(k) |
||||||||
7.95%, 02/19/23 |
230 | 21,103 | ||||||
6.20%, 03/24/26 |
420 | 33,600 | ||||||
China Evergrande Group (f)(j)(k) |
||||||||
10.00%, 04/11/23 |
300 | 24,525 | ||||||
7.50%, 06/28/23 |
300 | 24,806 | ||||||
9.50%, 03/29/24 |
300 | 24,619 | ||||||
10.50%, 04/11/24 |
350 | 29,159 | ||||||
China SCE Group Holdings Ltd. (f) |
||||||||
7.25%, 04/19/23 |
200 | 84,000 | ||||||
7.38%, 04/09/24 |
200 | 66,000 | ||||||
CIFI Holdings Group Co. Ltd. (f) |
||||||||
6.55%, 03/28/24 |
450 | 299,250 | ||||||
6.45%, 11/07/24 |
250 | 160,000 | ||||||
Dexin China Holdings Co. Ltd., 9.95%, 12/03/22 (f) |
298 | 179,228 | ||||||
Easy Tactic Ltd., 9.13%, 07/28/22 (f) |
200 | 52,600 | ||||||
Fantasia Holdings Group Co. Ltd., 7.95%, 07/05/22 (f)(j)(k) |
1,050 | 86,625 | ||||||
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25 (b) |
43 | 36,066 | ||||||
Global Prime Capital Pte. Ltd., 5.95%, 01/23/25 (f) |
200 | 187,000 | ||||||
GLP Pte Ltd. (f) |
||||||||
3.88%, 06/04/25 |
200 | 192,606 | ||||||
(5 year CMT + 3.74%), 4.50% (a)(g) |
200 | 168,850 | ||||||
Greystar Real Estate Partners LLC, 5.75%, 12/01/25 (b) |
360 | 340,758 | ||||||
Howard Hughes Corp. (b) |
||||||||
5.38%, 08/01/28 |
762 | 638,175 | ||||||
4.13%, 02/01/29 |
176 | 135,747 | ||||||
4.38%, 02/01/31 |
46 | 34,044 | ||||||
Kaisa Group Holdings Ltd. (f)(j)(k) |
||||||||
11.50%, 01/30/23 |
200 | 26,500 | ||||||
9.75%, 09/28/23 |
200 | 26,850 | ||||||
11.95%, 11/12/23 |
249 | 32,993 | ||||||
KWG Group Holdings Ltd., 5.88%, 11/10/24 (f) |
400 | 78,000 | ||||||
Modern Land China Co. Ltd., 11.50%, 11/13/22 (c)(f)(j)(k) |
1,130 | 180,800 | ||||||
New Metro Global Ltd., 4.50%, 05/02/26 (f) |
349 | 164,030 | ||||||
Northwest Florida Timber Finance LLC, 4.75%, 03/04/29 (b)(d) |
4,485 | 4,100,164 | ||||||
Pakuwon Jati Tbk PT, 4.88%, 04/29/28 (f) |
500 | 423,687 | ||||||
Powerlong Real Estate Holdings Ltd. (f) |
||||||||
6.25%, 08/10/24 |
200 | 34,000 | ||||||
5.95%, 04/30/25 |
200 | 32,000 | ||||||
Realogy Group LLC/Realogy Co-Issuer Corp. (b) |
||||||||
5.75%, 01/15/29 |
362 | 274,512 | ||||||
5.25%, 04/15/30 |
263 | 194,620 | ||||||
Redsun Properties Group Ltd., 10.50%, 10/03/22 (f) |
200 | 48,000 | ||||||
RKPF Overseas Ltd. (f) |
||||||||
Series 2019-A, 5.90%, 03/05/25 |
200 | 100,000 | ||||||
Series 2020-A, 5.20%, 01/12/26 |
306 | 139,230 | ||||||
Ronshine China Holdings Ltd., 7.10%, 01/25/25 (f) |
200 | 20,000 | ||||||
Shimao Group Holdings Ltd., 3.45%, 01/11/31 (f) |
200 | 21,000 | ||||||
Shui On Development Holding Ltd. (f) |
||||||||
5.75%, 11/12/23 |
225 | 201,375 |
Security |
Par (000) |
Value |
||||||
Real Estate Management & Development (continued) |
| |||||||
Shui On Development Holding Ltd. (f) (continued) |
| |||||||
5.50%, 03/03/25 |
$ | 230 | $ | 173,650 | ||||
Sinochem Offshore Capital Co. Ltd., 1.50%, 09/23/26 (f) |
200 | 177,934 | ||||||
Starwood Property Trust, Inc., 4.38%, 01/15/27 (b) |
150 | 130,209 | ||||||
Sunac China Holdings Ltd., 7.00%, 07/09/25 (f)(j)(k) |
782 | 109,480 | ||||||
Theta Capital Pte. Ltd., 8.13%, 01/22/25 (f) |
200 | 172,000 | ||||||
Times China Holdings Ltd. (f) |
||||||||
6.75%, 07/08/25 |
570 | 79,800 | ||||||
5.75%, 01/14/27 |
326 | 44,010 | ||||||
Vanke Real Estate Hong Kong Co. Ltd., 3.98%, 11/09/27 (f) |
200 | 175,350 | ||||||
VICI Properties LP, 5.13%, 05/15/32 |
3,155 | 2,973,083 | ||||||
Wanda Properties International Co. Ltd., 7.25%, 01/29/24 (f) |
285 | 209,475 | ||||||
Yango Justice International Ltd. (f)(j)(k) |
||||||||
8.25%, 11/25/23 |
200 | 12,000 | ||||||
7.50%, 04/15/24 |
200 | 12,000 | ||||||
Yanlord Land HK Co. Ltd. (f) |
||||||||
6.80%, 02/27/24 |
200 | 169,000 | ||||||
5.13%, 05/20/26 |
200 | 148,000 | ||||||
Yuzhou Group Holdings Co. Ltd. (f)(j)(k) |
||||||||
7.70%, 02/20/25 |
200 | 13,000 | ||||||
7.38%, 01/13/26 |
1,300 | 84,500 | ||||||
Zhenro Properties Group Ltd., 7.35%, 02/05/25 (f)(j)(k) |
233 | 15,145 | ||||||
|
|
|||||||
13,980,658 | ||||||||
Road & Rail — 2.0% |
||||||||
BNSF Funding Trust I, (3 mo. LIBOR US + 2.35%), 6.61%, 12/15/55 (a)(d) |
6,125 | 5,983,472 | ||||||
CSX Corp., 3.80%, 04/15/50 |
770 | 649,348 | ||||||
Norfolk Southern Corp., 6.00%, 03/15/2105 (d) |
12,700 | 12,376,377 | ||||||
Penske Truck Leasing Co. LP/PTL Finance Corp., 4.40%, 07/01/27 (b) |
2,750 | 2,695,733 | ||||||
Seaspan Corp., 5.50%, 08/01/29 (b) |
683 | 549,520 | ||||||
|
|
|||||||
22,254,450 | ||||||||
Semiconductors & Semiconductor Equipment — 2.2% |
||||||||
Broadcom, Inc., 5.00%, 04/15/30 (d) |
10,970 | 10,756,069 | ||||||
NVIDIA Corp. (d) |
||||||||
3.50%, 04/01/50 |
2,785 | 2,363,845 | ||||||
3.70%, 04/01/60 |
1,760 | 1,476,777 | ||||||
NXP BV/NXP Funding LLC/NXP USA, Inc. |
||||||||
4.40%, 06/01/27 |
750 | 738,891 | ||||||
3.40%, 05/01/30 |
1,755 | 1,565,570 | ||||||
Qualcomm, Inc., 4.30%, 05/20/47 (d) |
3,500 | 3,355,620 | ||||||
Sensata Technologies BV (b) |
||||||||
5.63%, 11/01/24 |
695 | 686,076 | ||||||
5.00%, 10/01/25 |
572 | 549,120 | ||||||
4.00%, 04/15/29 |
207 | 175,552 | ||||||
Sensata Technologies, Inc., 4.38%, 02/15/30 (b) |
2,261 | 1,924,513 | ||||||
SK Hynix, Inc., 1.50%, 01/19/26 (f) |
200 | 179,194 | ||||||
TSMC Global Ltd., 2.25%, 04/23/31 (f) |
200 | 169,258 | ||||||
|
|
|||||||
23,940,485 | ||||||||
Software — 1.4% |
||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28 (b) |
859 | 743,035 | ||||||
Boxer Parent Co., Inc. (b) |
||||||||
7.13%, 10/02/25 |
764 | 731,576 | ||||||
9.13%, 03/01/26 |
336 | 313,895 | ||||||
Elastic NV, 4.13%, 07/15/29 (b) |
718 | 599,372 | ||||||
Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 4.63%, 05/01/28 (b) |
205 | 162,696 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Software (continued) |
||||||||
Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32 (b) |
$ | 273 | $ | 220,342 | ||||
MicroStrategy, Inc., 6.13%, 06/15/28 (b)(d) |
180 | 143,339 | ||||||
MSCI, Inc. (b) |
||||||||
3.63%, 09/01/30 |
131 | 109,212 | ||||||
3.88%, 02/15/31 |
707 | 604,485 | ||||||
3.63%, 11/01/31 |
264 | 217,311 | ||||||
3.25%, 08/15/33 |
397 | 316,445 | ||||||
Open Text Corp. (b) |
||||||||
3.88%, 02/15/28 |
474 | 421,590 | ||||||
3.88%, 12/01/29 |
315 | 265,120 | ||||||
Open Text Holdings, Inc., 4.13%, 02/15/30 (b) |
901 | 779,410 | ||||||
Oracle Corp., 3.95%, 03/25/51 |
4,425 | 3,250,148 | ||||||
Playtika Holding Corp., 4.25%, 03/15/29 (b) |
939 | 774,675 | ||||||
PTC, Inc. (b) |
||||||||
3.63%, 02/15/25 |
166 | 157,000 | ||||||
4.00%, 02/15/28 |
867 | 783,479 | ||||||
SS&C Technologies, Inc., 5.50%, 09/30/27 (b)(d) |
3,862 | 3,601,547 | ||||||
Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (b) |
1,099 | 824,739 | ||||||
|
|
|||||||
15,019,416 | ||||||||
Specialty Retail — 0.3% |
||||||||
Bath & Body Works, Inc., 7.60%, 07/15/37 |
226 | 182,195 | ||||||
Carvana Co., 10.25%, 05/01/30 (b) |
283 | 232,060 | ||||||
PetSmart, Inc./PetSmart Finance Corp. (b) |
||||||||
4.75%, 02/15/28 |
481 | 416,180 | ||||||
7.75%, 02/15/29 |
1,711 | 1,540,773 | ||||||
Staples, Inc., 7.50%, 04/15/26 (b) |
943 | 781,624 | ||||||
|
|
|||||||
3,152,832 | ||||||||
Technology Hardware, Storage & Peripherals — 0.6% |
||||||||
Dell International LLC/EMC Corp. |
||||||||
5.85%, 07/15/25 |
2,395 | 2,469,979 | ||||||
8.35%, 07/15/46 |
2,355 | 2,932,739 | ||||||
II-VI, Inc., 5.00%, 12/15/29 (b) |
892 | 778,270 | ||||||
|
|
|||||||
6,180,988 | ||||||||
Textiles, Apparel & Luxury Goods (b) — 0.1% |
||||||||
Crocs, Inc., 4.13%, 08/15/31 |
244 | 172,692 | ||||||
Levi Strauss & Co., 3.50%, 03/01/31 |
281 | 229,718 | ||||||
William Carter Co., 5.63%, 03/15/27 |
365 | 341,790 | ||||||
|
|
|||||||
744,200 | ||||||||
Thrifts & Mortgage Finance — 0.2% |
||||||||
Home Point Capital, Inc., 5.00%, 02/01/26 (b) |
411 | 283,590 | ||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 5.25%, 10/01/25 (b) |
268 | 242,540 | ||||||
MGIC Investment Corp., 5.25%, 08/15/28 |
337 | 301,767 | ||||||
Nationstar Mortgage Holdings, Inc. (b) |
||||||||
6.00%, 01/15/27 |
524 | 454,539 | ||||||
5.13%, 12/15/30 |
163 | 121,847 | ||||||
5.75%, 11/15/31 |
197 | 150,843 | ||||||
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 2.88%, 10/15/26 (b) |
233 | 192,553 | ||||||
|
|
|||||||
1,747,679 | ||||||||
Tobacco (d) — 2.0% |
||||||||
Altria Group, Inc., 10.20%, 02/06/39 |
13,392 | 17,412,563 | ||||||
BAT Capital Corp., 4.54%, 08/15/47 |
3,000 | 2,199,618 | ||||||
Reynolds American, Inc., 5.85%, 08/15/45 |
2,335 | 1,959,281 | ||||||
|
|
|||||||
21,571,462 |
Security |
Par (000) |
Value |
||||||
Transportation Infrastructure — 0.6% |
||||||||
FedEx Corp., 5.25%, 05/15/50 |
$ | 6,000 | $ | 5,974,043 | ||||
GMR Hyderabad International Airport Ltd., 5.38%, 04/10/24 (f) |
200 | 193,475 | ||||||
SF Holding Investment 2021 Ltd., 2.38%, 11/17/26 (f) |
200 | 184,618 | ||||||
Signature Aviation U.S. Holdings, Inc., 4.00%, 03/01/28 (b) |
541 | 528,016 | ||||||
|
|
|||||||
6,880,152 | ||||||||
Utilities — 0.3% |
||||||||
Consensus Cloud Solutions, Inc., 6.50%, 10/15/28 (b) |
286 | 236,007 | ||||||
Minejesa Capital BV, 4.63%, 08/10/30 (f) |
200 | 178,022 | ||||||
Mong Duong Finance Holdings BV, 5.13%, 05/07/29 (f) |
605 | 486,760 | ||||||
Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28 (b) |
795 | 691,650 | ||||||
Three Gorges Finance I Cayman Islands Ltd., 3.15%, 06/02/26 (f) |
200 | 196,392 | ||||||
Vistra Operations Co. LLC (b) |
||||||||
5.63%, 02/15/27 |
812 | 763,491 | ||||||
4.38%, 05/01/29 |
471 | 394,053 | ||||||
|
|
|||||||
2,946,375 | ||||||||
Wireless Telecommunication Services — 2.6% |
||||||||
Altice France SA (b) |
||||||||
8.13%, 02/01/27 |
528 | 485,966 | ||||||
5.50%, 01/15/28 |
560 | 451,282 | ||||||
5.13%, 01/15/29 |
338 | 256,072 | ||||||
5.13%, 07/15/29 |
1,305 | 985,275 | ||||||
5.50%, 10/15/29 |
1,029 | 786,063 | ||||||
American Tower Corp., 3.60%, 01/15/28 |
4,000 | 3,740,028 | ||||||
Crown Castle International Corp. |
||||||||
3.65%, 09/01/27 (d) |
8,000 | 7,576,380 | ||||||
4.15%, 07/01/50 |
820 | 681,524 | ||||||
Digicel International Finance Ltd./Digicel international Holdings Ltd., 8.75%, 05/25/24 (b) |
635 | 586,105 | ||||||
Rogers Communications, Inc., 4.55%, 03/15/52 (b)(d) |
5,433 | 4,771,031 | ||||||
SBA Communications Corp. |
||||||||
3.13%, 02/01/29 |
33 | 27,010 | ||||||
3.88%, 02/15/27 |
2,441 | 2,228,120 | ||||||
Sprint Corp., 7.63%, 03/01/26 |
1,096 | 1,154,775 | ||||||
T-Mobile USA, Inc. |
||||||||
4.75%, 02/01/28 |
1,013 | 981,810 | ||||||
2.63%, 02/15/29 |
438 | 368,703 | ||||||
3.38%, 04/15/29 |
506 | 442,750 | ||||||
2.88%, 02/15/31 |
235 | 195,104 | ||||||
3.50%, 04/15/31 |
990 | 854,796 | ||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 6.50%, 02/15/29 (b) |
1,037 | 759,602 | ||||||
Vmed O2 U.K. Financing I PLC, 4.75%, 07/15/31 (b) |
1,234 | 996,887 | ||||||
|
|
|||||||
28,329,283 | ||||||||
|
|
|||||||
Total Corporate Bonds — 113.6% (Cost: $1,347,561,217) |
1,235,005,118 | |||||||
|
|
|||||||
Floating Rate Loan Interests (a) |
||||||||
Aerospace & Defense — 0.2% |
||||||||
Atlas CC Acquisition Corp. |
||||||||
Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.82%, 05/25/28 |
636 | 586,479 | ||||||
Term Loan C, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.82%, 05/25/28 |
106 | 97,788 |
94 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Aerospace & Defense (continued) |
| |||||||
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, 11/17/28 (l) |
$ | 100 | $ | 94,917 | ||||
Dynasty Acquisition Co., Inc. |
||||||||
2020 CAD Term Loan B2, (1 mo. LIBOR + 3.50%), 5.17%, 04/06/26 |
82 | 75,487 | ||||||
2020 Term Loan B1, (1 mo. LIBOR + 3.50%), 5.17%, 04/06/26 |
153 | 140,405 | ||||||
Peraton Corp. |
||||||||
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 9.00%, 02/01/29 |
113 | 104,733 | ||||||
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 02/01/28 |
809 | 758,093 | ||||||
TransDigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 3.92%, 12/09/25 |
264 | 249,440 | ||||||
|
|
|||||||
2,107,342 | ||||||||
Air Freight & Logistics — 0.0% |
||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.72%, 04/06/28 |
100 | 89,880 | ||||||
Kestrel Bidco, Inc., Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.03%, 12/11/26 |
30 | 26,625 | ||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 12/15/28 |
149 | 134,415 | ||||||
|
|
|||||||
250,920 | ||||||||
Airlines — 0.2% |
||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.81%, 04/20/28 |
436 | 414,982 | ||||||
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28 (c) |
374 | 343,145 | ||||||
American Airlines, Inc. |
||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 3.40%, 01/29/27 |
389 | 341,681 | ||||||
2018 Term Loan B, (1 mo. LIBOR + 1.75%), 3.37%, 06/27/25 |
77 | 68,708 | ||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 7.31%, 06/21/27 |
533 | 525,341 | ||||||
United Airlines, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.39%, 04/21/28 |
446 | 413,150 | ||||||
|
|
|||||||
2,107,007 | ||||||||
Auto Components — 0.1% |
||||||||
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 04/30/26 |
602 | 560,613 | ||||||
Truck Hero, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.75% Floor), 5.17%, 01/31/28 |
160 | 142,655 | ||||||
USI, Inc., 2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 5.25%, 05/16/24 |
374 | 357,908 | ||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 02/05/26 |
341 | 279,791 | ||||||
|
|
|||||||
1,340,967 |
Security |
Par (000) |
Value |
||||||
Banks — 0.1% |
||||||||
Directv Financing LLC, Term Loan, (1 mo. LIBOR + 5.00%, 0.75% Floor), 6.67%, 08/02/27 |
$ | 373 | $ | 342,016 | ||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1 mo. LIBOR + 5.00%), 6.67%, 10/29/28 |
223 | 205,422 | ||||||
|
|
|||||||
547,438 | ||||||||
Beverages — 0.0% |
||||||||
Naked Juice LLC |
||||||||
2nd Lien Term Loan, (SOFR + 6.00%), 8.15%, 01/24/30 (c) |
178 | 160,202 | ||||||
Term Loan, (SOFR + 3.25%), 5.40%, 01/24/29 |
385 | 357,933 | ||||||
|
|
|||||||
518,135 | ||||||||
Building Products — 0.1% |
||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 11/23/27 |
226 | 197,745 | ||||||
CPG International LLC, 2022 Term Loan B, (SOFR + 2.50%), 4.09%, 04/28/29 (c) |
89 | 82,325 | ||||||
Jeld-Wen, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 07/28/28 |
100 | 94,224 | ||||||
New AMI I LLC, 2022 Term Loan B, (SOFR + 6.00%), 7.52%, 03/08/29 |
98 | 88,964 | ||||||
Standard Industries, Inc., 2021 Term Loan B, (6 mo. LIBOR + 2.50%), 3.79%, 09/22/28 |
74 | 71,757 | ||||||
Wilsonart LLC, 2021 Term Loan E, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.51%, 12/31/26 |
343 | 302,952 | ||||||
|
|
|||||||
837,967 | ||||||||
Capital Markets — 0.1% |
||||||||
Deerfield Dakota Holding LLC, 2020 USD Term Loan B, (SOFR + 3.75%, 1.00% Floor), 5.28%, 04/09/27 |
1,002 | 935,513 | ||||||
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 5.31%, 11/12/27 |
149 | 140,293 | ||||||
|
|
|||||||
1,075,806 | ||||||||
Chemicals — 0.2% |
||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.00%, 08/27/26 |
260 | 252,487 | ||||||
Atotech BV, 2021 USD Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 03/18/28 |
374 | 356,651 | ||||||
Element Solutions, Inc., 2019 Term Loan B1, 01/31/26 (l) |
111 | 109,629 | ||||||
Lonza Group AG, USD Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.25%, 07/03/28 |
18 | 15,940 | ||||||
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 4.75%, 03/02/26 |
99 | 94,685 | ||||||
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/15/24 |
199 | 191,845 | ||||||
New Arclin U.S. Holding Corp., 2021 Term Loan , (1 mo. LIBOR + 3.75%), 5.42%, 09/30/28 |
189 | 174,231 | ||||||
Oxea Holding Drei GmbH, 2017 USD Term Loan B2, (1 mo. LIBOR + 3.25%), 4.38%, 10/14/24 |
225 | 208,040 | ||||||
PQ Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.50%), 3.74%, 06/09/28 |
187 | 178,404 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Chemicals (continued) |
| |||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (6 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 03/16/27 |
$ | 76 | $ | 67,227 | ||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.62%, 08/02/28 (c) |
221 | 210,300 | ||||||
|
|
|||||||
1,859,439 | ||||||||
Commercial Services & Supplies — 0.3% |
||||||||
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 05/12/28 |
300 | 273,909 | ||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (SOFR + 4.00%), 5.30%, 02/15/29 |
54 | 51,267 | ||||||
Aramark Services, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 04/06/28 |
113 | 107,821 | ||||||
Asurion LLC |
||||||||
2018 Term Loan B6, 11/03/23 (l) |
111 | 106,810 | ||||||
2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 4.92%, 12/23/26 |
225 | 203,358 | ||||||
2021 2nd Lien Term Loan B3, (1 mo. LIBOR + 5.25%), 6.92%, 01/31/28 |
375 | 318,750 | ||||||
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.00%), 3.67%, 10/08/28 |
148 | 146,772 | ||||||
Covanta Holding Corp. (l) |
||||||||
2021 Term Loan B, 11/30/28 |
84 | 78,758 | ||||||
2021 Term Loan C, 11/30/28 |
6 | 5,914 | ||||||
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 12/12/25 |
223 | 213,139 | ||||||
GFL Environmental, Inc., 2020 Term Loan, (3 mo. LIBOR + 3.00%), 4.24%, 05/30/25 |
112 | 108,417 | ||||||
Packers Holdings LLC, 2021 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.44%, 03/09/28 |
200 | 182,664 | ||||||
Prime Security Services Borrower LLC, 2021 Term Loan, (3 mo. LIBOR + 2.75%, 0.75% Floor), 3.65%, 09/23/26 |
150 | 139,367 | ||||||
Tempo Acquisition LLC, 2022 Term Loan B, 08/31/28 (l) |
621 | 587,508 | ||||||
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 5.67%, 08/27/25 |
334 | 319,267 | ||||||
Viad Corp., Initial Term Loan, (1 mo. LIBOR + 5.00%), 6.67%, 07/30/28 |
149 | 139,547 | ||||||
|
|
|||||||
2,983,268 | ||||||||
Communications Equipment — 0.0% |
||||||||
ViaSat, Inc., Term Loan, (SOFR + 4.50%), 6.14%, 03/02/29 |
272 | 252,522 | ||||||
|
|
|||||||
Construction & Engineering — 0.1% |
||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.40%, 06/21/24 |
618 | 531,362 | ||||||
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 01/21/28 |
75 | 71,141 | ||||||
SRS Distribution, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 4.02%, 06/02/28 |
568 | 522,525 | ||||||
USIC Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 5.17%, 05/12/28 |
149 | 138,502 | ||||||
|
|
|||||||
1,263,530 |
Security |
Par (000) |
Value |
||||||
Construction Materials — 0.1% |
| |||||||
Core & Main LP, 2021 Term Loan B, (1 mo. LIBOR + 2.50%), 4.12%, 07/27/28 |
$ | 561 | $ | 533,616 | ||||
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 03/29/25 |
561 | 530,201 | ||||||
Tamko Building Products LLC, Term Loan B, (3 mo. LIBOR + 3.00%), 4.33%, 06/01/26 |
12 | 11,079 | ||||||
|
|
|||||||
1,074,896 | ||||||||
Containers & Packaging — 0.2% |
||||||||
BWAY Holding Co., 2017 Term Loan B, (1 Week LIBOR + 3.25%), 4.31%, 04/03/24 |
376 | 352,911 | ||||||
Charter Next Generation, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 12/01/27 |
1,006 | 945,229 | ||||||
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 5.67%, 07/31/26 |
186 | 175,503 | ||||||
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 5.17%, 08/18/27 |
262 | 232,016 | ||||||
|
|
|||||||
1,705,659 | ||||||||
Distributors — 0.0% |
||||||||
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 3.67%, 01/15/27 |
123 | 116,194 | ||||||
TMK Hawk Parent Corp., 2020 Super Priority Second Out Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.11%, 08/28/24 (c) |
122 | 92,502 | ||||||
|
|
|||||||
208,696 | ||||||||
Diversified Consumer Services — 0.1% |
||||||||
Ascend Learning LLC |
||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 7.42%, 12/10/29 (c) |
100 | 91,500 | ||||||
2021 Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 12/11/28 |
149 | 137,571 | ||||||
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 11/24/28 (c) |
125 | 119,415 | ||||||
Midas Intermediate Holdco II LLC, 2020 Term Loan B, (PRIME + 5.75%), 10.50%, 12/22/25 |
485 | 443,037 | ||||||
Okta, Inc., Term Loan, (SOFR + 6.25%), 7.63%, 12/15/26 |
126 | 106,674 | ||||||
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.99%, 10/28/27 |
113 | 105,825 | ||||||
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%), 5.54%, 01/15/27 |
372 | 355,320 | ||||||
|
|
|||||||
1,359,342 | ||||||||
Diversified Financial Services — 0.4% |
||||||||
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 6.17%, 07/31/26 |
372 | 353,223 | ||||||
Alchemy Copyrights LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 4.06%, 03/10/28 (c) |
149 | 143,646 | ||||||
AlixPartners LLP, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 02/04/28 |
187 | 177,437 | ||||||
AqGen Island Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 5.81%, 08/02/28 (c) |
456 | 423,813 | ||||||
Castlelake Aviation Ltd., Term Loan B, (3 mo. LIBOR + 2.75%), 4.58%, 10/22/26 |
262 | 249,710 | ||||||
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 09/01/28 |
167 | 159,406 |
96 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Diversified Financial Services (continued) |
| |||||||
Delta TopCo, Inc. |
||||||||
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 9.34%, 12/01/28 (c) |
$ | 50 | $ | 42,500 | ||||
2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 5.84%, 12/01/27 |
187 | 168,684 | ||||||
Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.25%, 10/01/27 |
370 | 349,215 | ||||||
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (SOFR + 4.00%), 6.20%, 02/16/28 |
50 | 47,000 | ||||||
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.17%, 07/03/24 |
75 | 71,050 | ||||||
KKR Apple Bidco LLC |
||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 7.42%, 09/21/29 |
15 | 14,306 | ||||||
2021 Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 09/23/28 |
40 | 37,495 | ||||||
LBM Acquisition LLC, Term Loan B, 12/18/27 (l) |
235 | 192,078 | ||||||
LEB Holdings USA, Inc., Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 11/02/27 |
75 | 73,091 | ||||||
Oscar Acquisitionco LLC, Term Loan B, (SOFR + 4.50%), 6.11%, 04/29/29 |
123 | 109,162 | ||||||
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 09/25/26 |
262 | 242,835 | ||||||
RVR Dealership Holdings LLC, Term Loan B, (SOFR + 3.75%), 5.17%, 02/08/28 |
75 | 62,560 | ||||||
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3 mo. LIBOR + 2.00%), 4.25%, 11/05/28 |
75 | 71,188 | ||||||
SMG U.S. Midco 2, Inc., 2020 Term Loan, (1 mo. LIBOR + 2.50%), 4.17%, 01/23/25 |
153 | 142,489 | ||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 6.50%, 07/30/25 |
77 | 71,683 | ||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.25%, 09/01/25 |
477 | 389,265 | ||||||
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 02/28/27 |
300 | 282,060 | ||||||
White Cap Buyer LLC, Term Loan B, (SOFR + 3.75%), 5.28%, 10/19/27 |
74 | 68,503 | ||||||
Ziggo Financing Partnership, USD Term Loan I, (1 mo. LIBOR + 2.50%), 3.82%, 04/30/28 |
126 | 117,219 | ||||||
|
|
|||||||
4,059,618 | ||||||||
Diversified Telecommunication Services — 0.0% |
||||||||
Cablevision Lightpath LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 4.57%, 11/30/27 |
112 | 105,084 | ||||||
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.06%, 05/01/28 |
186 | 173,685 | ||||||
Iridium Satellite LLC, 2021 Term Loan B2, (1 mo. LIBOR + 2.50%, 0.75% Floor), 4.17%, 11/04/26 |
223 | 213,388 | ||||||
|
|
|||||||
492,157 | ||||||||
Electric Utilities — 0.1% |
||||||||
ExGen Renewables IV LLC, 2020 Term Loan, (3 mo. LIBOR + 2.50%, 1.00% Floor), 4.08%, 12/15/27 |
247 | 237,857 | ||||||
Triton Water Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 5.75%, 03/31/28 |
407 | 358,306 | ||||||
|
|
|||||||
596,163 |
Security |
Par (000) |
Value |
||||||
Electrical Equipment — 0.0% |
| |||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (6 mo. LIBOR + 4.75%, 0.75% Floor), 7.63%, 06/23/28 (c) |
$ | 223 | $ | 208,947 | ||||
AZZ, Inc., Term Loan B, (SOFR + 4.25%), 5.88%, 05/13/29 (c) |
35 | 33,338 | ||||||
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.50%, 0.75% Floor), 4.17%, 03/31/27 |
183 | 172,581 | ||||||
II-VI, Inc., 2021 Bridge Term Loan B, 07/02/29 (l) |
125 | 119,531 | ||||||
|
|
|||||||
534,397 | ||||||||
Environmental, Maintenance & Security Service — 0.0% |
||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 3.42%, 09/07/27 |
300 | 288,952 | ||||||
TruGreen LP, 2020 Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 11/02/27 |
37 | 34,911 | ||||||
|
|
|||||||
323,863 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 0.0% |
||||||||
RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 3.67%, 05/11/24 |
33 | 32,480 | ||||||
|
|
|||||||
Food & Staples Retailing — 0.0% |
||||||||
U.S. Foods, Inc. |
||||||||
2019 Term Loan B, (3 mo. LIBOR + 2.00%), 3.57%, 09/13/26 |
53 | 49,721 | ||||||
2021 Term Loan B, (3 mo. LIBOR + 2.75%), 4.32%, 11/22/28 |
249 | 236,375 | ||||||
|
|
|||||||
286,096 | ||||||||
Food Products — 0.2% |
||||||||
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/01/25 |
164 | 137,325 | ||||||
B&G Foods, Inc., 2019 Term Loan B4, 10/10/26 (l) |
112 | 105,245 | ||||||
Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.17%, 10/25/27 |
594 | 537,252 | ||||||
Froneri International Ltd., 2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 3.92%, 01/29/27 |
569 | 522,385 | ||||||
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 06/08/28 |
224 | 210,981 | ||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 01/20/28 |
187 | 177,932 | ||||||
|
|
|||||||
1,691,120 | ||||||||
Gas Utilities — 0.0% |
||||||||
Freeport LNG Investments LLLP, Term Loan B, (3 mo. LIBOR + 3.50%), 4.56%, 12/21/28 |
445 | 383,761 | ||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.1% |
||||||||
Electron BidCo, Inc., 2021 Term Loan, 11/01/28 (l) |
300 | 280,518 | ||||||
Insulet Corp., Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/04/28 |
112 | 105,587 | ||||||
Medline Borrower LP, USD Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 10/23/28 |
766 | 709,491 | ||||||
|
|
|||||||
1,095,596 | ||||||||
Health Care Providers & Services — 0.1% |
||||||||
CHG Healthcare Services, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.75%, 09/29/28 |
186 | 175,550 | ||||||
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 6.25%, 01/08/27 |
297 | 280,895 | ||||||
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/10/25 |
296 | 97,431 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Health Care Providers & Services (continued) |
| |||||||
EyeCare Partners LLC, 2020 Term Loan, (3 mo. LIBOR + 3.75%), 6.00%, 02/18/27 |
$ | 200 | $ | 184,486 | ||||
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 6.75%, 03/05/26 |
158 | 137,409 | ||||||
Orbcomm, Inc., Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 09/01/28 |
149 | 137,558 | ||||||
Sotera Health Holdings LLC, 2021 Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 12/11/26 |
126 | 119,543 | ||||||
Vizient, Inc., 2022 Term Loan B, (SOFR + 2.25%), 3.68%, 04/28/29 |
32 | 31,720 | ||||||
WP CityMD Bidco LLC, 2021 1st Lien Term Loan B, (3 mo. LIBOR + 3.25%), 5.50%, 12/22/28 |
250 | 234,413 | ||||||
|
|
|||||||
1,399,005 | ||||||||
Health Care Services — 0.0% |
||||||||
Azalea Topco, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 4.74%, 07/24/26 |
376 | 351,246 | ||||||
|
|
|||||||
Health Care Technology — 0.1% |
||||||||
Athenahealth, Inc., 2022 Term Loan B, (SOFR + 3.50%), 5.01%, 02/15/29 |
386 | 354,465 | ||||||
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 10/10/25 |
82 | 74,897 | ||||||
Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%), 5.67%, 06/02/28 |
223 | 205,366 | ||||||
|
|
|||||||
634,728 | ||||||||
Hotels, Restaurants & Leisure — 0.4% |
||||||||
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 3.42%, 11/19/26 |
341 | 324,546 | ||||||
Aristocrat Technologies, Inc., 2022 Term Loan B, (SOFR + 2.25%), 4.40%, 05/24/29 |
23 | 22,160 | ||||||
Caesars Resort Collection LLC, 2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 12/23/24 |
450 | 432,128 | ||||||
Carnival Corp., (6 mo. LIBOR + 3.00%, 0.75% Floor), 5.88%, 06/30/25 |
110 | 102,486 | ||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.25%, 03/08/24 |
585 | 432,849 | ||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (SOFR + 4.00%), 5.53%, 01/27/29 |
597 | 548,987 | ||||||
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 3.67%, 11/30/23 |
98 | 96,525 | ||||||
Hilton Worldwide Finance LLC, 2019 Term Loan B2, 06/22/26 (l) |
31 | 30,038 | ||||||
IRB Holding Corp., 2022 Term Loan B, (SOFR + 3.15%, 0.75% Floor), 4.24%, 12/15/27 |
547 | 512,567 | ||||||
Penn National Gaming, Inc., 2022 Term Loan B, (SOFR + 2.75%), 4.38%, 05/03/29 |
154 | 147,025 | ||||||
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 03/13/28 |
236 | 222,136 | ||||||
Scientific Games International, Inc., 2022 USD Term Loan, (SOFR + 3.00%), 4.36%, 04/14/29 |
88 | 83,380 | ||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 4.50%, 07/21/26 |
75 | 71,005 | ||||||
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 02/08/27 |
301 | 282,425 | ||||||
Travelport Finance Luxembourg SARL, 2021 Consented Term Loan, (3 mo. LIBOR + 5.00%), 7.25%, 05/29/26 |
276 | 212,511 |
Security |
Par (000) |
Value |
||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||
Twin River Worldwide Holdings, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 4.37%, 10/02/28 |
$ | 74 | $ | 69,086 | ||||
Whatabrands LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 08/03/28 |
262 | 244,675 | ||||||
Wyndham Hotels & Resorts, Inc., Term Loan B, 05/30/25 (l) |
19 | 18,274 | ||||||
|
|
|||||||
3,852,803 | ||||||||
Household Durables — 0.1% |
||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.25%), 6.97%, 05/17/28 |
172 | 132,722 | ||||||
Snap One Holdings Corp., Term Loan B, (6 mo. LIBOR + 4.50%), 7.38%, 12/08/28 |
188 | 169,949 | ||||||
Solis IV BV, USD Term Loan B1, (SOFR + 3.50%), 4.84%, 02/26/29 |
262 | 224,830 | ||||||
Springs Windows Fashions LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.60%, 10/06/28 |
76 | 62,069 | ||||||
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 10/30/27 |
130 | 117,885 | ||||||
|
|
|||||||
707,455 | ||||||||
Industrial Conglomerates — 0.1% |
||||||||
AVSC Holding Corp., 2020 Term Loan B1, (0.25% PIK), 5.11%, 03/03/25 (i) |
385 | 329,729 | ||||||
Diamond BC BV, 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.99%, 09/29/28 |
341 | 314,379 | ||||||
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 8.30%, 11/28/23 |
10 | 9,830 | ||||||
Vertical U.S. Newco, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 4.02%, 07/30/27 |
99 | 93,023 | ||||||
Vertiv Group Corp., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 3.87%, 03/02/27 |
460 | 426,498 | ||||||
|
|
|||||||
1,173,459 | ||||||||
Insurance — 0.2% |
||||||||
Alliant Holdings Intermediate LLC |
||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/09/25 |
626 | 587,752 | ||||||
2021 Term Loan B4, (1 mo. LIBOR + 3.50%), 5.01%, 11/06/27 |
119 | 110,772 | ||||||
AmWINS Group, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 02/19/28 |
175 | 165,116 | ||||||
AssuredPartners, Inc., 2020 Term Loan B, (1 mo. LIBOR + 3.50%), 5.17%, 02/12/27 |
263 | 245,581 | ||||||
Hub International Ltd. |
||||||||
2018 Term Loan B, 04/25/25 (l) |
451 | 425,822 | ||||||
2021 Term Loan B, (3 mo. LIBOR + 3.25%), 4.35%, 04/25/25 |
111 | 105,470 | ||||||
Ryan Specialty Group LLC, Term Loan, (SOFR + 3.00%, 0.75% Floor), 4.63%, 09/01/27 (c) |
124 | 119,393 | ||||||
Sedgwick Claims Management Services, Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 09/03/26. |
224 | 212,374 | ||||||
|
|
|||||||
1,972,280 | ||||||||
Interactive Media & Services — 0.1% |
||||||||
Adevinta ASA, USD Term Loan B, (3 mo. LIBOR + 3.00%, 0.75% Floor), 5.25%, 06/26/28 |
371 | 353,961 |
98 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Interactive Media & Services (continued) |
| |||||||
Arches Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 12/06/27 |
$ | 93 | $ | 84,391 | ||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.67%, 10/30/26 |
432 | 406,258 | ||||||
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 3.67%, 08/10/27 |
125 | 120,221 | ||||||
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26 |
447 | 406,531 | ||||||
|
|
|||||||
1,371,362 | ||||||||
Internet & Direct Marketing Retail — 0.0% |
||||||||
CNT Holdings I Corp., 2020 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.69%, 11/08/27 |
199 | 188,504 | ||||||
|
|
|||||||
Internet Software & Services — 0.0% |
||||||||
Uber Technologies, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 5.07%, 02/25/27 |
515 | 491,668 | ||||||
|
|
|||||||
IT Services — 0.3% |
||||||||
Aruba Investments, Inc., 2020 USD Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.63%, 11/24/27 (c) |
75 | 68,654 | ||||||
Banff Merger Sub, Inc., 2021 USD Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/02/25 |
225 | 208,777 | ||||||
Camelot Finance SA, Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 10/30/26 |
124 | 117,419 | ||||||
CCC Intelligent Solutions, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 4.50%, 09/21/28 |
187 | 177,052 | ||||||
CoreLogic, Inc. |
||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 8.19%, 06/04/29 (c) |
100 | 72,000 | ||||||
Term Loan, (1 mo. LIBOR + 3.50%), 5.19%, 06/02/28 |
453 | 375,606 | ||||||
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 1.75%), 3.42%, 04/28/28 |
226 | 216,874 | ||||||
Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 12/01/27 |
927 | 883,805 | ||||||
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 02/12/27 (c) |
378 | 340,255 | ||||||
Trans Union LLC |
||||||||
2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 3.42%, 11/16/26 |
113 | 106,099 | ||||||
2021 Term Loan B6, (1 mo. LIBOR + 2.25%), 3.92%, 12/01/28 |
448 | 426,401 | ||||||
Virtusa Corp., 1st Lien Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 02/11/28 |
75 | 70,285 | ||||||
WEX, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.25%), 3.92%, 03/31/28 |
124 | 119,319 | ||||||
|
|
|||||||
3,182,546 | ||||||||
Leisure Products — 0.0% |
||||||||
Fender Musical Instruments Corp., 2021 Term Loan B, (SOFR + 4.00%), 5.23%, 12/01/28 |
100 | 94,153 | ||||||
Peloton Interactive, Inc., Term Loan, (SOFR + 6.50%), 8.35%, 05/25/27 |
41 | 38,976 | ||||||
|
|
|||||||
133,129 | ||||||||
Life Sciences Tools & Services — 0.2% |
||||||||
Avantor Funding, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.25%), 3.92%, 11/08/27 |
277 | 265,410 |
Security |
Par (000) |
Value |
||||||
Life Sciences Tools & Services (continued) |
| |||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.17%, 02/04/27 |
$ | 556 | $ | 512,365 | ||||
ICON Luxembourg SARL |
||||||||
LUX Term Loan, (3 mo. LIBOR + 2.25%), 4.56%, 07/03/28 |
278 | 268,006 | ||||||
US Term Loan, (3 mo. LIBOR + 2.25%), 4.56%, 07/03/28 |
69 | 66,774 | ||||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (SOFR + 3.00%), 3.85%, 10/19/27 (c) |
186 | 176,297 | ||||||
Parexel International Corp., 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.88%, 11/15/28 |
523 | 489,760 | ||||||
|
|
|||||||
1,778,612 | ||||||||
Machinery — 0.2% |
||||||||
Albion Acquisitions Ltd., USD Term Loan, (3 mo. LIBOR + 5.25%), 6.43%, 08/17/26 |
224 | 213,801 | ||||||
ASP Blade Holdings, Inc., Initial Term Loan, (1 mo. LIBOR + 4.00%), 5.67%, 10/13/28 |
66 | 57,767 | ||||||
Clark Equipment Co., 2022 Term Loan B, (SOFR + 2.50%), 4.65%, 04/20/29 |
42 | 40,271 | ||||||
Columbus McKinnon Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 5.06%, 05/14/28 |
72 | 68,740 | ||||||
Fluidra SA, 2022 USD Term Loan B, (SOFR + 2.00%), 3.63%, 01/29/29 |
22 | 21,188 | ||||||
Gardner Denver, Inc., 2020 USD Term Loan B2, (1 mo. LIBOR + 1.75%), 3.38%, 03/01/27 |
143 | 137,037 | ||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. LIBOR + 1.75%), 3.38%, 03/01/27 |
159 | 151,590 | ||||||
Madison IAQ LLC, Term Loan, (6 mo. LIBOR + 3.25%), 4.52%, 06/21/28 |
456 | 414,388 | ||||||
SPX Flow, Inc., (SOFR + 4.50%), 6.13%, 04/05/29 |
146 | 135,788 | ||||||
Titan Acquisition Ltd., 2018 Term Loan B, (6 mo. LIBOR + 3.00%), 5.88%, 03/28/25 |
451 | 412,432 | ||||||
|
|
|||||||
1,653,002 | ||||||||
Media — 0.6% |
||||||||
Altice Financing SA, USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 3.79%, 01/31/26 |
252 | 226,829 | ||||||
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 5.41%, 08/14/26 |
412 | 375,647 | ||||||
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.00%), 4.20%, 04/22/26 |
164 | 137,847 | ||||||
Charter Communications Operating LLC, Class A, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 3.42%, 04/30/25 |
124 | 120,877 | ||||||
City Football Group Ltd., Term Loan, (3 mo. LIBOR + 3.50%), 4.60%, 07/21/28 (c) |
225 | 206,273 | ||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 4.74%, 08/21/26 |
601 | 514,449 | ||||||
CMG Media Corp., 2021 Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 12/17/26 |
124 | 114,316 | ||||||
Connect Finco SARL, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.17%, 12/12/26 |
672 | 616,161 | ||||||
CSC Holdings LLC, 2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 3.82%, 04/15/27 |
243 | 225,156 | ||||||
Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.92%, 12/01/23 (c) |
92 | 80,590 | ||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 03/24/25 |
75 | 72,752 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Media (continued) |
| |||||||
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 3.35%, 10/17/26 |
$ | 457 | $ | 425,912 | ||||
MH Sub I LLC |
||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.42%, 09/13/24 |
727 | 683,101 | ||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 7.92%, 02/23/29 |
207 | 193,923 | ||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (SOFR + 3.75%), 5.38%, 04/21/29 (c) |
201 | 184,920 | ||||||
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.63%, 09/28/23 (c) |
299 | 286,293 | ||||||
UPC Financing Partnership, 2021 USD Term Loan AX, (1 mo. LIBOR + 3.00%), 4.32%, 01/31/29 |
45 | 42,761 | ||||||
Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1 mo. LIBOR + 3.25%), 4.57%, 01/31/29 |
300 | 286,767 | ||||||
Voyage Digital Ltd., (SOFR + 4.50%), 5.28%, 05/11/29 (c) |
107 | 101,650 | ||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 05/18/25 |
569 | 533,959 | ||||||
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR + 2.12%), 3.79%, 01/20/28 |
225 | 215,507 | ||||||
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 03/09/27 |
585 | 537,237 | ||||||
|
|
|||||||
6,182,927 | ||||||||
Oil, Gas & Consumable Fuels — 0.2% |
||||||||
Ascent Resources Utica LLC, 2020 Fixed 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%, 1.00% Floor), 10.02%, 11/01/25 |
784 | 821,891 | ||||||
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 12/13/25 |
62 | 52,622 | ||||||
Lucid Energy Group II Borrower LLC, 2021 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.87%, 11/24/28 |
371 | 365,089 | ||||||
Medallion Midland Acquisition LLC, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 10/18/28 |
223 | 213,804 | ||||||
Oryx Midstream Services Permian Basin LLC, Term Loan B, (3 mo. LIBOR + 3.25%), 4.71%, 10/05/28 |
372 | 353,279 | ||||||
|
|
|||||||
1,806,685 | ||||||||
Personal Products — 0.1% |
||||||||
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.00%, 10/01/26. |
744 | 687,082 | ||||||
|
|
|||||||
Pharmaceuticals — 0.1% |
||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 5.50%, 05/04/25 |
125 | 113,122 | ||||||
Bausch Health Cos., Inc., 2022 Term Loan B, (SOFR + 5.25%), 6.55%, 02/01/27 |
273 | 233,330 | ||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR + 2.00%), 3.63%, 02/22/28 |
124 | 122,318 | ||||||
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 2.81%, 08/01/27 |
138 | 130,035 | ||||||
Jazz Financing Lux SARL, USD Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 05/05/28 |
298 | 283,227 | ||||||
Option Care Health, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 10/27/28 |
55 | 52,035 |
Security |
Par (000) |
Value |
||||||
Pharmaceuticals (continued) |
| |||||||
Organon & Co., USD Term Loan, (3 mo. LIBOR + 3.00%), 4.63%, 06/02/28 |
$ | 216 | $ | 207,696 | ||||
Precision Medicine Group LLC (c) |
| |||||||
2021 Delayed Draw Term Loan, (3 mo. LIBOR + 3.75%), 3.75%, 11/18/27 |
15 | 13,838 | ||||||
2021 Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 5.25%, 11/18/27 |
286 | 263,960 | ||||||
|
|
|||||||
1,419,561 | ||||||||
Professional Services — 0.1% |
||||||||
Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 3.25%), 4.87%, 02/06/26 |
498 | 469,339 | ||||||
Element Materials Technology Group U.S. Holdings, Inc. (l) |
||||||||
2022 USD Delayed Draw Term Loan B, 04/12/29 |
77 | 73,463 | ||||||
2022 USD Delayed Draw Term Loan D, 04/12/29 |
166 | 159,170 | ||||||
Galaxy U.S. Opco, Inc., Term Loan, (SOFR + 4.75%), 6.28%, 04/29/29 |
180 | 168,525 | ||||||
|
|
|||||||
870,497 | ||||||||
Real Estate Management & Development — 0.1% |
||||||||
Chamberlain Group, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 5.17%, 11/03/28 |
375 | 338,088 | ||||||
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 08/21/25 |
299 | 280,600 | ||||||
|
|
|||||||
618,688 | ||||||||
Road & Rail — 0.0% |
||||||||
Avis Budget Car Rental LLC, 2020 Term Loan B, (1 mo. LIBOR + 1.75%), 3.42%, 08/06/27 |
71 | 67,493 | ||||||
Genesee & Wyoming, Inc., Term Loan, (3 mo. LIBOR + 2.00%), 4.25%, 12/30/26 |
188 | 179,716 | ||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 5.50%), 7.09%, 08/04/25 (c) |
80 | 71,464 | ||||||
|
|
|||||||
318,673 | ||||||||
Semiconductors & Semiconductor Equipment — 0.0% |
||||||||
Synaptics, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 4.36%, 12/02/28 |
111 | 108,195 | ||||||
|
|
|||||||
Software — 0.6% |
||||||||
Applied Systems, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 5.25%, 09/19/24 |
39 | 39,020 | ||||||
Barracuda Networks, Inc. |
||||||||
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 5.98%, 02/12/25 |
298 | 294,327 | ||||||
2022 Term Loan, 05/17/29 (l) |
83 | 79,369 | ||||||
Central Parent, Inc., 2022 USD Term Loan B, 07/06/29 (l) |
73 | 68,812 | ||||||
Cloudera, Inc. |
||||||||
2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%), 7.67%, 10/08/29 (c) |
113 | 98,310 | ||||||
2021 Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/08/28 |
246 | 226,056 | ||||||
Cornerstone OnDemand, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/16/28 |
187 | 166,325 | ||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/28/24 (c) |
205 | 176,601 | ||||||
Epicor Software Corp., 2020 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 07/30/27 |
299 | 281,080 | ||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 3.75%), 5.95%, 03/11/28 |
100 | 91,700 |
100 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
Software (continued) |
||||||||
Informatica LLC, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 4.44%, 10/27/28 |
$ | 486 | $ | 460,450 | ||||
Instructure Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.27%, 10/30/28 (c) |
100 | 94,513 | ||||||
Magenta Buyer LLC |
||||||||
2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 6.23%, 07/27/28 |
253 | 226,699 | ||||||
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor), 9.48%, 07/27/29 |
193 | 176,021 | ||||||
McAfee LLC, 2022 USD Term Loan B, (SOFR + 4.00%), 5.15%, 03/01/29 |
376 | 341,220 | ||||||
Netsmart Technologies, Inc., 2020 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 10/01/27 |
186 | 176,755 | ||||||
Planview Parent, Inc., Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 12/17/27 |
111 | 104,748 | ||||||
Proofpoint, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.25%), 4.82%, 08/31/28 |
450 | 416,972 | ||||||
RealPage, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 04/24/28 |
742 | 684,151 | ||||||
Restoration Hardware, Inc., Term Loan B, (1 mo. LIBOR + 2.50%), 4.14%, 10/20/28 |
187 | 163,326 | ||||||
Severin Acquisition LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 4.62%, 08/01/25 |
150 | 143,928 | ||||||
Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 5.50%, 10/07/27 |
398 | 370,386 | ||||||
Tibco Software, Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.25%, 03/03/28 |
335 | 327,798 | ||||||
Ultimate Software Group, Inc. |
||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%), 6.21%, 05/03/27 |
112 | 103,444 | ||||||
2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.21%, 05/04/26 |
825 | 770,728 | ||||||
|
|
|||||||
6,082,739 | ||||||||
Specialty Retail — 0.2% |
||||||||
Belron Finance U.S. LLC, 2018 Term Loan B, (3 mo. LIBOR + 2.25%), 3.69%, 11/13/25 |
374 | 360,970 | ||||||
EG Group Ltd., 2021 Term Loan, 6.50%, 03/31/26 |
447 | 422,522 | ||||||
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 11/24/28 |
75 | 70,303 | ||||||
Mavis Tire Express Services Corp., 2021 Term Loan B, (SOFR + 4.00%), 5.63%, 05/04/28 |
274 | 252,503 | ||||||
MED ParentCo LP, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 5.92%, 08/31/26 |
149 | 134,356 | ||||||
PetSmart, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28 |
557 | 522,834 | ||||||
Pilot Travel Centers LLC, 2021 Term Loan B, (SOFR + 2.00%), 3.63%, 08/04/28 |
99 | 95,146 | ||||||
Restoration Hardware, Inc., 2022 Incremental Term Loan, (SOFR + 3.25%), 4.88%, 10/20/28 |
90 | 80,100 | ||||||
Reverb Buyer, Inc., 2021 First Lien Term Loan, (3 mo. LIBOR + 3.50%), 6.38%, 11/01/28 |
308 | 287,760 | ||||||
|
|
|||||||
2,226,494 | ||||||||
Technology Hardware, Storage & Peripherals — 0.0% |
||||||||
Electronics for Imaging, Inc., Term Loan, 07/23/26 (l) |
67 | 59,666 | ||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods — 0.0% |
||||||||
Crocs, Inc., Term Loan B, (SOFR + 3.50%), 4.45%, 02/17/29 |
266 | 241,865 | ||||||
|
|
Security |
Par (000) |
Value |
||||||
Trading Companies & Distributors — 0.0% |
| |||||||
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 05/19/28 |
$ | 187 | $ | 178,131 | ||||
Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.49%, 01/31/28 (c) |
113 | 98,681 | ||||||
ION Trading Finance Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%), 7.00%, 04/03/28 |
75 | 68,607 | ||||||
SRS Distribution, Inc., 2022 Incremental Term Loan, (SOFR + 3.50%), 4.00%, 06/02/28 |
68 | 62,386 | ||||||
|
|
|||||||
407,805 | ||||||||
Wireless Telecommunication Services — 0.0% |
||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (3 mo. LIBOR), 4.99%, 04/30/28 |
75 | 70,444 | ||||||
MetroNet Systems Holdings LLC, 2021 1st Lien Term Loan, (SOFR + 3.75%), 5.05%, 06/02/28 |
111 | 102,897 | ||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 3.42%, 04/11/25 |
188 | 180,840 | ||||||
|
|
|||||||
354,181 | ||||||||
|
|
|||||||
Total Floating Rate Loan Interests — 6.4% (Cost: $74,520,431) |
69,263,042 | |||||||
|
|
|||||||
Foreign Agency Obligations |
| |||||||
Brazil — 0.4% |
||||||||
Brazilian Government International Bond, 5.00%, 01/27/45 |
6,525 | 4,678,833 | ||||||
|
|
|||||||
Colombia — 0.3% |
||||||||
Colombia Government International Bond, 5.63%, 02/26/44 |
4,000 | 2,879,500 | ||||||
|
|
|||||||
India — 0.0% |
||||||||
Export-Import Bank of India, 3.88%, 02/01/28 (f) |
200 | 191,004 | ||||||
|
|
|||||||
Indonesia — 0.5% |
||||||||
Indonesia Government International Bond |
||||||||
5.88%, 01/15/24 (b) |
4,400 | 4,525,950 | ||||||
2.85%, 02/14/30 |
200 | 178,037 | ||||||
1.85%, 03/12/31 |
200 | 162,022 | ||||||
3.70%, 10/30/49 |
200 | 160,022 | ||||||
3.50%, 02/14/50 |
200 | 157,475 | ||||||
Perusahaan Penerbit SBSN Indonesia III, 2.80%, 06/23/30 (f) |
200 | 175,475 | ||||||
|
|
|||||||
5,358,981 | ||||||||
Mexico — 0.4% |
||||||||
Mexico Government International Bond, 4.75%, 03/08/44 (d) |
5,800 | 4,804,212 | ||||||
|
|
|||||||
Pakistan — 0.0% |
||||||||
Pakistan Government International Bond (f) |
||||||||
6.00%, 04/08/26 |
450 | 301,550 | ||||||
7.38%, 04/08/31 |
200 | 124,022 | ||||||
|
|
|||||||
425,572 | ||||||||
Philippines — 0.1% |
||||||||
Philippine Government International Bond |
||||||||
1.65%, 06/10/31 |
200 | 160,272 | ||||||
1.95%, 01/06/32 |
200 | 162,772 | ||||||
2.65%, 12/10/45 |
200 | 137,022 | ||||||
|
|
|||||||
460,066 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||
South Korea — 0.0% |
||||||||
Export-Import Bank of Korea, 1.63%, 01/18/27 |
$ | 200 | $ | 182,990 | ||||
|
|
|||||||
Uruguay — 0.3% |
||||||||
Uruguay Government International Bond, 5.10%, 06/18/50 |
3,500 | 3,510,500 | ||||||
|
|
|||||||
Total Foreign Agency Obligations — 2.0% (Cost: $25,976,979) |
|
22,491,658 | ||||||
|
|
|||||||
Municipal Bonds |
||||||||
New York — 1.0% |
||||||||
Metropolitan Transportation Authority, RB, BAB, 6.55%, 11/15/31 |
10,000 | 11,227,440 | ||||||
|
|
|||||||
Total Municipal Bonds — 1.0% (Cost: $9,833,900) |
|
11,227,440 | ||||||
|
|
|||||||
Preferred Securities |
||||||||
Capital Trusts — 12.6% |
||||||||
Airlines — 0.0% |
||||||||
Airport Authority, 2.10% (a)(f)(g) |
200 | 180,975 | ||||||
|
|
|||||||
Automobiles — 0.2% |
||||||||
General Motors Financial Co., Inc., Series C, 5.70% (a)(g) |
2,565 | 2,231,550 | ||||||
|
|
|||||||
Banks (a)(g) — 4.4% |
||||||||
HSBC Capital Funding Dollar 1 LP, 10.18% (b)(d) |
11,835 | 16,035,358 | ||||||
Huntington Bancshares, Inc., Series F, 5.63% |
6,450 | 6,029,873 | ||||||
Industrial & Commercial Bank of China Ltd., 3.20% (f) |
300 | 283,500 | ||||||
ING Groep NV, 3.88% |
3,326 | 2,408,737 | ||||||
Kasikornbank PCL, 5.28% (f) |
268 | 245,605 | ||||||
Macquarie Bank Ltd., 6.13% (b) |
1,885 | 1,704,896 | ||||||
Nordea Bank Abp, 6.13% (b) |
5,540 | 5,336,593 | ||||||
Rizal Commercial Banking Corp., 6.50% (f) |
700 | 669,069 | ||||||
SVB Financial Group, 4.10% |
4,556 | 3,133,226 | ||||||
TMBThanachart Bank PCL, 4.90% (f) |
700 | 638,444 | ||||||
U.S. Bancorp, Series J, 5.30% (d) |
10,415 | 8,850,146 | ||||||
Wells Fargo & Co. |
||||||||
Series S, 5.90% |
281 | 254,080 | ||||||
Series U, 5.88% |
2,655 | 2,588,360 | ||||||
|
|
|||||||
48,177,887 | ||||||||
Capital Markets — 0.1% |
||||||||
State Street Corp., Series F, 5.43% (a)(g) |
618 | 602,326 | ||||||
|
|
|||||||
Diversified Financial Services — 4.9% |
||||||||
Bank of America Corp., Series U, 5.20% (a)(d)(g) |
5,785 | 5,365,587 | ||||||
Barclays PLC (a)(g) |
||||||||
4.38% |
1,630 | 1,249,988 | ||||||
8.00% |
4,500 | 4,421,250 | ||||||
BNP Paribas SA, 7.38% (a)(b)(g) |
4,535 | 4,489,413 |
Security |
Par (000) |
Value |
||||||
Diversified Financial Services (continued) |
||||||||
Credit Agricole SA, 8.13% (a)(b)(g) |
$ | 5,000 | $ | 5,121,500 | ||||
Credit Suisse Group AG, 7.50% (a)(b)(g) |
1,865 | 1,720,463 | ||||||
HSBC Holdings PLC, 6.50% (a)(g) |
2,615 | 2,368,108 | ||||||
JPMorgan Chase & Co. |
||||||||
8.75%, 09/01/30 |
2,000 | 2,443,366 | ||||||
Series S, 6.75% (a)(d)(g) |
9,775 | 9,840,248 | ||||||
Lloyds Banking Group PLC, 7.50% (a)(g) |
8,285 | 8,075,158 | ||||||
NatWest Group PLC, 8.00% (a)(g) |
970 | 959,573 | ||||||
UBS Group AG, 7.00% (a)(b)(g) |
7,500 | 7,305,918 | ||||||
|
|
|||||||
53,360,572 | ||||||||
Electric Utilities — 0.6% |
||||||||
PPL Capital Funding, Inc., Series A, 4.92%, 03/30/67 (a) |
8,300 | 6,121,250 | ||||||
|
|
|||||||
Independent Power and Renewable Electricity Producers — 0.1% |
| |||||||
Vistra Corp., 7.00% (a)(b)(g) |
481 | 436,507 | ||||||
|
|
|||||||
Insurance — 1.7% |
||||||||
ACE Capital Trust II, 9.70%, 04/01/30 (d) |
7,000 | 8,930,864 | ||||||
Equitable of Iowa Cos Capital Trust II, Series B, 8.42%, 04/01/27 |
5,000 | 4,816,060 | ||||||
MetLife, Inc., 6.40%, 12/15/66 |
5,000 | 5,026,300 | ||||||
|
|
|||||||
18,773,224 | ||||||||
Oil, Gas & Consumable Fuels — 0.2% |
||||||||
Enterprise Products Operating LLC, 4.36%, 06/01/67 (a) |
2,500 | 1,842,262 | ||||||
|
|
|||||||
Real Estate Management & Development — 0.0% |
||||||||
NWD Finance BVI Ltd., 4.13% (a)(f)(g) |
409 | 345,605 | ||||||
|
|
|||||||
Wireless Telecommunication Services — 0.4% |
||||||||
Vodafone Group PLC, 7.00%, 04/04/79 (a) |
4,745 | 4,654,608 | ||||||
|
|
|||||||
136,726,766 | ||||||||
|
|
|||||||
Shares |
||||||||
Preferred Stocks — 3.7% |
||||||||
Banks (a)(g) — 2.3% |
| |||||||
Citigroup, Inc., Series K, 6.88% |
488,320 | 12,564,474 | ||||||
Wells Fargo & Co., Series Q, 5.85% |
550,500 | 13,068,870 | ||||||
|
|
|||||||
25,633,344 | ||||||||
Capital Markets (a)(g) — 0.9% |
||||||||
Goldman Sachs Group, Inc., Series J, 5.50% |
162,450 | 3,970,278 | ||||||
State Street Corp., Series D, 5.90% |
220,495 | 5,483,711 | ||||||
|
|
|||||||
9,453,989 |
102 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) (Percentages shown are based on Net Assets) |
Security |
Shares |
Value |
||||||
|
||||||||
Interactive Media & Services — 0.5% |
||||||||
ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: $3,526,645) (c)(k)(m) |
32,185 | $ | 5,327,131 | |||||
|
|
|||||||
40,414,464 | ||||||||
|
|
|||||||
Total Preferred Securities — 16.3% (Cost: $185,172,899) |
177,141,230 | |||||||
|
|
|||||||
Total Long-Term Investments — 145.7% (Cost: $1,716,201,108) |
|
1,584,492,992 | ||||||
|
|
|||||||
Short-Term Securities |
||||||||
Money Market Funds — 0.3% |
||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (n)(o) |
3,126,037 | 3,126,037 | ||||||
|
|
|||||||
Total Short-Term Securities — 0.3% (Cost: $3,126,037) |
3,126,037 | |||||||
|
|
|||||||
Options Purchased — 0.0% (Cost: $680,224) |
659,767 | |||||||
|
|
|||||||
Total Investments Before Options Written — 146.0% (Cost: $1,720,007,369) |
|
1,588,278,796 | ||||||
|
|
|||||||
Options Written — (0.2)% (Premiums Received: $(2,702,036)) |
(2,698,232 | ) | ||||||
|
|
|||||||
Total Investments, Net of Options Written — 145.8% (Cost: $1,717,305,333) |
|
1,585,580,564 | ||||||
Liabilities in Excess of Other Assets — (45.8)% |
|
(498,353,717 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 1,087,226,847 | ||||||
|
|
(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) |
All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(f) |
This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(g) |
Perpetual security with no stated maturity date. |
(h) |
When-issued security. |
(i) |
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. |
(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) |
Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $5,327,131, representing 0.5% of its net assets as of period end, and an original cost of $3,526,645. |
(n) |
Affiliate of the Trust. |
(o) |
Annualized 7-day yield as of period end. |
Affiliated Issuer |
Value at 12/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 06/30/22 |
Shares Held at 06/30/22 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class |
$ | 22,030,719 | $ | — | $ | (18,904,682 | ) (a) |
$ | — | $ | — | $ | 3,126,037 | 3,126,037 | $ | 23,618 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 |
) | |||||||||||||||||
|
||||||||||||||||||||||||||
Barclays Capital, Inc. |
1.80 | % (b) |
12/21/21 | Open | $ | 14,668,500 | $ | 14,707,840 | Corporate Bonds | Open/Demand | ||||||||||||||||
BNP Paribas S.A. |
1.78 | (b) |
02/11/22 | Open | 5,362,500 | 5,374,061 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.78 | (b) |
02/11/22 | Open | 3,685,775 | 3,693,721 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.80 | (b) |
02/11/22 | Open | 484,800 | 485,882 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.80 | (b) |
02/11/22 | Open | 3,908,469 | 3,917,192 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.95 | (b) |
02/14/22 | Open | 9,371,250 | 9,397,398 | Capital Trusts | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/01/22 | Open | 6,573,125 | 6,585,815 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/01/22 | Open | 7,339,625 | 7,353,795 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/01/22 | Open | 7,214,062 | 7,227,990 | 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 |
103 |
Schedule of Investments (unaudited) (continued) June 30, 2022 |
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 |
) | |||||||||||||||||
|
||||||||||||||||||||||||||
RBC Capital Markets LLC |
1.75 | % (b) |
03/01/22 | Open | $ | 6,648,175 | $ | 6,661,010 | Corporate Bonds | Open/Demand | ||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/01/22 | Open | 2,700,000 | 2,705,213 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/01/22 | Open | 6,231,500 | 6,243,530 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/01/22 | Open | 19,435,140 | 19,473,720 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.88 | (b) |
03/01/22 | Open | 8,854,675 | 8,875,638 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.88 | (b) |
03/01/22 | Open | 3,678,300 | 3,687,008 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.88 | (b) |
03/01/22 | Open | 4,462,500 | 4,473,065 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.80 | (b) |
03/02/22 | Open | 3,287,550 | 3,294,422 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.80 | (b) |
03/02/22 | Open | 8,737,500 | 8,755,764 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/02/22 | Open | 10,730,000 | 10,751,797 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/02/22 | Open | 4,757,445 | 4,767,109 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/02/22 | Open | 11,855,594 | 11,879,677 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.62 | (b) |
03/03/22 | Open | 4,324,725 | 4,331,156 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/03/22 | Open | 2,332,081 | 2,336,937 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/03/22 | Open | 2,701,450 | 2,706,628 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 13,487,500 | 13,514,689 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 2,610,000 | 2,615,261 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 4,325,000 | 4,333,718 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 724,640 | 726,101 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 7,162,500 | 7,176,938 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 8,313,900 | 8,330,659 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 5,815,000 | 5,826,722 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 14,850,000 | 14,879,935 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 8,714,875 | 8,732,443 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 6,697,500 | 6,711,001 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 14,715,000 | 14,744,663 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 7,770,000 | 7,785,663 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 9,076,781 | 9,095,079 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/03/22 | Open | 5,596,719 | 5,608,001 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.90 | (b) |
03/03/22 | Open | 2,673,000 | 2,679,449 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.65 | (b) |
03/08/22 | Open | 156,620 | 156,865 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.65 | (b) |
03/08/22 | Open | 1,509,638 | 1,512,001 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.65 | (b) |
03/08/22 | Open | 1,018,175 | 1,019,769 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.95 | (b) |
03/08/22 | Open | 1,331,374 | 1,334,723 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.95 | (b) |
03/08/22 | Open | 4,445,000 | 4,456,180 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.95 | (b) |
03/08/22 | Open | 419,795 | 420,561 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 9,087,087 | 9,105,552 | Capital Trusts | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,675,000 | 4,684,499 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 882,500 | 884,293 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 5,121,619 | 5,132,026 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 5,417,212 | 5,428,220 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,707,062 | 4,716,627 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,787,500 | 4,797,228 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 6,056,094 | 6,068,450 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,954,677 | 4,964,744 | Foreign Agency Obligations | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,464,900 | 4,473,972 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,561,340 | 4,568,715 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 1,636,800 | 1,640,126 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,823,244 | 4,833,044 | Capital Trusts | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 3,775,000 | 3,782,671 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 3,869,302 | 3,877,165 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,924,219 | 4,934,224 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 8,773,062 | 8,790,889 | Capital Trusts | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
1.80 | (b) |
03/09/22 | Open | 4,318,750 | 4,327,525 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
2.00 | (b) |
03/09/22 | Open | 15,533,437 | 15,574,752 | Capital Trusts | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
2.00 | (b) |
03/09/22 | Open | 5,337,500 | 5,351,696 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/09/22 | Open | 4,445,756 | 4,454,092 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/09/22 | Open | 17,473,531 | 17,506,294 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/09/22 | Open | 3,186,562 | 3,192,862 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.78 | (b) |
03/09/22 | Open | 2,370,000 | 2,374,685 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.90 | (b) |
03/09/22 | Open | 8,228,700 | 8,248,003 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.90 | (b) |
03/09/22 | Open | 3,014,483 | 3,021,554 | Corporate Bonds | Open/Demand |
104 |
2 0 2 2 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, 2022 |
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 |
) | |||||||||||||||||
|
||||||||||||||||||||||||||
RBC Capital Markets LLC |
1.90 | % (b) |
03/09/22 | Open | $ | 8,973,020 | $ | 8,994,069 | Corporate Bonds | Open/Demand | ||||||||||||||||
RBC Capital Markets LLC |
1.90 | (b) |
03/09/22 | Open | 2,774,744 | 2,781,253 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.90 | (b) |
03/09/22 | Open | 8,555,400 | 8,575,470 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.90 | (b) |
03/09/22 | Open | 2,763,265 | 2,769,747 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.75 | (b) |
03/17/22 | Open | 2,910,188 | 2,915,745 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.75 | (b) |
03/17/22 | Open | 3,688,125 | 3,695,168 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.80 | (b) |
03/17/22 | Open | 7,557,840 | 7,573,376 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.95 | (b) |
03/17/22 | Open | 1,373,680 | 1,377,105 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.95 | (b) |
03/17/22 | Open | 2,803,315 | 2,810,304 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.95 | (b) |
03/17/22 | Open | 3,489,421 | 3,498,120 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.95 | (b) |
03/17/22 | Open | 3,550,000 | 3,558,850 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
1.75 | (b) |
03/17/22 | Open | 11,079,700 | 11,100,859 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.90 | (b) |
03/22/22 | Open | 2,106,000 | 2,110,753 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.75 | (b) |
03/24/22 | Open | 2,760,193 | 2,765,234 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/24/22 | Open | 13,167,000 | 13,191,048 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
03/24/22 | Open | 3,248,175 | 3,254,107 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.75 | (b) |
04/01/22 | Open | 2,610,406 | 2,614,449 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC |
1.90 | (b) |
04/01/22 | Open | 3,113,738 | 3,120,259 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
1.25 | (b) |
04/12/22 | Open | 301,600 | 301,070 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
(0.75 | ) (b) |
04/21/22 | Open | 382,270 | 381,237 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.80 | (b) |
04/27/22 | Open | 6,419,312 | 6,428,585 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.80 | (b) |
04/27/22 | Open | 8,993,075 | 9,006,065 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
(1.25 | ) (b) |
04/28/22 | Open | 285,820 | 285,185 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
1.74 | (b) |
05/12/22 | Open | 2,465,444 | 2,468,885 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
1.74 | (b) |
05/12/22 | Open | 1,184,400 | 1,186,053 | Corporate Bonds | Open/Demand | ||||||||||||||||||
TD Securities (USA) LLC |
1.74 | (b) |
05/12/22 | Open | 3,159,844 | 3,164,254 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.88 | (b) |
06/15/22 | Open | 4,427,895 | 4,430,211 | Corporate Bonds | Open/Demand | ||||||||||||||||||
RBC Capital Markets LLC. |
1.75 | (b) |
06/15/22 | Open | 4,412,500 | 4,414,553 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Barclays Capital, Inc. |
(3.00 | ) (b) |
06/17/22 | Open | 53,838 | 53,793 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
(0.50 | ) (b) |
06/22/22 | Open | 386,785 | 386,742 | Corporate Bonds | Open/Demand | ||||||||||||||||||
Credit Suisse Securities (USA) LLC |
(5.00 | ) (b) |
06/24/22 | Open | 108,900 | 108,794 | Corporate Bonds | Open/Demand | ||||||||||||||||||
BNP Paribas S.A. |
1.95 | (b) |
06/28/22 | Open | 296,380 | 296,412 | Corporate Bonds | Open/Demand | ||||||||||||||||||
|
|
|
|
|||||||||||||||||||||||
$ | 546,585,368 | $ | 547,698,452 | |||||||||||||||||||||||
|
|
|
|
(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 |
||||||||||||||||
Ultra U.S. Treasury Bond |
91 | 09/21/22 | $ | 14,045 | $ | (182,556 | ) | |||||||||
5-Year U.S. Treasury Note |
2,610 | 09/30/22 | 292,646 | 1,847,147 | ||||||||||||
3-Month SOFR |
2,018 | 03/14/23 | 487,498 | (11,416,906 | ) | |||||||||||
|
|
|||||||||||||||
(9,752,315 | ) | |||||||||||||||
|
|
|||||||||||||||
Short Contracts |
||||||||||||||||
10-Year U.S. Treasury Note |
1,168 | 09/21/22 | 138,244 | 1,191,457 | ||||||||||||
10-Year U.S. Ultra Long Treasury Note |
78 | 09/21/22 | 9,911 | 127,226 | ||||||||||||
U.S. Long Bond |
739 | 09/21/22 | 102,051 | (3,452,927 | ) | |||||||||||
|
|
|||||||||||||||
(2,134,244 | ) | |||||||||||||||
|
|
|||||||||||||||
$ | (11,886,559 | ) | ||||||||||||||
|
|
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) |
Description |
Number of Contracts |
Expiration Date |
Exercise Price |
Notional Amount (000) |
Value |
|||||||||||||||
Call |
||||||||||||||||||||
Xtrackers Harvest CSI 300 China A-Shares Fund |
2,951 | 09/16/22 | USD | 36.00 | USD | 10,084 | $ | 278,869 | ||||||||||||
|
|
Description |
Counterparty |
Expiration Date |
Exercise Price |
Notional Amount (000) |
Value |
|||||||||||||
Put |
||||||||||||||||||
USD Currency |
Goldman Sachs International | 09/15/22 | 127.00 | USD | 23,044 | $ | 147,644 | |||||||||||
USD Currency |
Goldman Sachs International | 09/15/22 | 128.00 | USD | 30,932 | 233,254 | ||||||||||||
|
|
|||||||||||||||||
$ | 380,898 | |||||||||||||||||
|
|
Description |
Counterparty |
Expiration Date |
Exercise Price |
Notional Amount (000) |
Value |
|||||||||||||
Put |
||||||||||||||||||
USD Currency |
Goldman Sachs International | 09/15/22 | 123.00 | USD | 30,931 | $ | (104,982 | ) | ||||||||||
|
|
|
Paid by the Trust | Received by the Trust | |
|
|
|
|
|||||||||||||||||||||||||
Description |
Rate |
Frequency |
Rate |
Frequency |
Counterparty |
Expiration Date |
Exercise Rate |
Notional Amount (000) |
Value |
|||||||||||||||||||||||
Call |
||||||||||||||||||||||||||||||||
2-Year Interest Rate Swap, 01/01/25 |
2.30% | Semi-Annual |
|
1-Day SOFR, 0.82% |
|
Quarterly | Goldman Sachs International | 12/30/22 | 2.30 | % | USD | 410,000 | $ | (1,363,250 | ) | |||||||||||||||||
|
|
|||||||||||||||||||||||||||||||
Put |
||||||||||||||||||||||||||||||||
2-Year Interest Rate Swap, 01/01/25 |
|
1-Day SOFR, 0.82% |
|
Quarterly | 3.80% | Semi-Annual |
Goldman Sachs International | 12/30/22 | 3.80 | USD | 410,000 | (1,230,000 | ) | |||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||
$ | (2,593,250 | ) | ||||||||||||||||||||||||||||||
|
|
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.38.V2. |
5.00 | % | Quarterly | 06/20/27 | B+ | USD 61,776 | $ | (1,722,676 | ) | $ | 2,752,043 | $ | (4,474,719 | ) | ||||||||||||||||||
|
|
|
|
|
|
(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 |
Value |
|||||||||||||||
Centrally Cleared Swaps (a) |
$ | 2,752,043 | $ | — | $ | — | $ | (4,474,719 | ) | $ — | ||||||||||
Options Written |
N/A | N/A | 3,804 | — | (2,698,232 | ) |
(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. |
106 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) |
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) |
$ | — | $ | — | $ | — | $ | — | $ | 3,165,830 | $ | — | $ | 3,165,830 | ||||||||||||||
Options purchased |
||||||||||||||||||||||||||||
Investments at value — unaffiliated (b) |
— | — | 278,869 | 380,898 | — | — | 659,767 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | — | $ | 278,869 | $ | 380,898 | $ | 3,165,830 | $ | — | $ | 3,825,597 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized depreciation on futures contracts (a) |
$ | — | $ | — | $ | — | $ | — | $ | 15,052,389 | $ | — | $ | 15,052,389 | ||||||||||||||
Options written |
||||||||||||||||||||||||||||
Options written at value |
— | — | — | 104,982 | 2,593,250 | — | 2,698,232 | |||||||||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized depreciation on centrally cleared swaps (a) |
— | 4,474,719 | — | — | — | — | 4,474,719 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 4,474,719 | $ | — | $ | 104,982 | $ | 17,645,639 | $ | — | $ | 22,225,340 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
$ | — | $ | — | $ | 195,243 | $ | — | $ | 16,596,665 | $ | — | $ | 16,791,908 | ||||||||||||||
Options purchased (a) |
— | — | (741,488 | ) | — | (233,652 | ) | — | (975,140 | ) | ||||||||||||||||||
Options written |
— | — | 576,973 | — | — | — | 576,973 | |||||||||||||||||||||
Swaps |
— | 976,762 | — | — | — | — | 976,762 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 976,762 | $ | 30,728 | $ | — | $ | 16,363,013 | $ | — | $ | 17,370,503 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | — | $ | — | $ | (11,081,811 | ) | $ | — | $ | (11,081,811 | ) | ||||||||||||
Options purchased (b) |
— | — | 687,689 | (77,325 | ) | — | — | 610,364 | ||||||||||||||||||||
Options written |
— | — | — | 3,804 | — | — | 3,804 | |||||||||||||||||||||
Swaps |
— | (4,474,719 | ) | — | — | — | — | (4,474,719 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | (4,474,719 | ) | $ | 687,689 | $ | (73,521 | ) | $ | (11,081,811 | ) | $ | — | $ | (14,942,362 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
$ | 651,559,491 | ||
Average notional value of contracts — short |
$ | 289,575,086 | ||
Options: |
||||
Average value of option contracts purchased |
$ | 1,208,817 | ||
Average value of option contracts written |
$ | 172,819 | ||
Average notional value of swaption contracts written |
$ | 410,000,000 | ||
Credit default swaps: |
||||
Average notional value — sell protection |
$ | 62,088,000 |
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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) |
Assets |
Liabilities |
|||||||
Derivative Financial Instruments |
||||||||
Futures contracts |
$ | 2,251,913 | $ | 1,917,252 | ||||
Options |
659,767 | (a) |
2,698,232 | |||||
Swaps — centrally cleared |
— | 85,129 | ||||||
|
|
|
|
|||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities |
2,911,680 | 4,700,613 | ||||||
|
|
|
|
|||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) |
(2,530,782 | ) | (2,002,381 | ) | ||||
|
|
|
|
|||||
Total derivative assets and liabilities subject to an MNA |
$ | 380,898 | $ | 2,698,232 | ||||
|
|
|
|
(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 |
(a) |
Non-Cash Collateral Received |
Cash Collateral Received |
Net Amount of Derivative Assets |
||||||||||||||
Goldman Sachs International |
$ | 380,898 | $ | (380,898) | $ | — | $ | — | $ | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
Counterparty |
Derivative Liabilities Subject to an MNA by Counterparty |
Derivatives Available for Offset |
(a) |
Non-Cash Collateral Pledged |
Cash Collateral Pledged |
Net Amount of Derivative Liabilities |
(b) | |||||||||||||
Goldman Sachs International |
$ | 2,698,232 | $ | (380,898) | $ | — | $ | — | $ | 2,317,334 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(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 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 Statements of Assets and Liabilities. |
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Asset-Backed Securities |
$ | — | $ | 68,306,666 | $ | 1,057,838 | $ | 69,364,504 | ||||||||
Corporate Bonds |
— | 1,233,754,561 | 1,250,557 | 1,235,005,118 | ||||||||||||
Floating Rate Loan Interests |
— | 64,857,717 | 4,405,325 | 69,263,042 | ||||||||||||
Foreign Agency Obligations |
— | 22,491,658 | — | 22,491,658 | ||||||||||||
Municipal Bonds |
— | 11,227,440 | — | 11,227,440 | ||||||||||||
Preferred Securities |
||||||||||||||||
Capital Trusts |
— | 136,726,766 | — | 136,726,766 | ||||||||||||
Preferred Stocks |
35,087,333 | — | 5,327,131 | 40,414,464 | ||||||||||||
Short-Term Securities |
||||||||||||||||
Money Market Funds |
3,126,037 | — | — | 3,126,037 |
108 |
2 0 2 2 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, 2022 |
BlackRock Credit Allocation Income Trust (BTZ) |
Level 1 |
Level 2 |
Level 3 |
Total |
|||||||||||||
Options Purchased |
||||||||||||||||
Equity Contracts |
$ | 278,869 | $ | — | $ | — | $ | 278,869 | ||||||||
Foreign Currency Exchange Contracts. |
— | 380,898 | — | 380,898 | ||||||||||||
Liabilities |
||||||||||||||||
Unfunded Floating Rate Loan Interests (a) |
— | (10,503 | ) | (1,030 | ) | (11,533 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 38,492,239 | $ | 1,537,735,203 | $ | 12,039,821 | $ | 1,588,267,263 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative Financial Instruments (b) |
||||||||||||||||
Assets |
||||||||||||||||
Interest Rate Contracts |
$ | 3,165,830 | $ | — | $ | — | $ | 3,165,830 | ||||||||
Liabilities |
||||||||||||||||
Credit Contracts |
— | (4,474,719 | ) | — | (4,474,719 | ) | ||||||||||
Foreign Currency Exchange Contracts |
— | (104,982 | ) | — | (104,982 | ) | ||||||||||
Interest Rate Contracts |
(15,052,389 | ) | (2,593,250 | ) | — | (17,645,639 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | (11,886,559 | ) | $ | (7,172,951 | ) | $ | — | $ | (19,059,510 | ) | ||||||
|
|
|
|
|
|
|
|
(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 options written. Swaps and futures contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value. |
|
||||||||||||||||||||||||
Asset-Backed Securities |
Corporate Bonds |
Floating Rate Loan Interests |
Preferred Stocks |
Non-Agency Mortgage-Backed Securities |
Total |
|||||||||||||||||||
|
||||||||||||||||||||||||
Assets |
||||||||||||||||||||||||
Opening balance, as of December 31, 2021 |
$ | 2,330,249 | $ | 1,323,551 | $ | — | $ | 5,263,862 | $ | — | $ | 8,917,662 | ||||||||||||
Transfers into Level 3 (a) |
— | 203,047 | — | — | — | 203,047 | ||||||||||||||||||
Transfers out of Level 3 (b) |
(1,000,000 | ) | — | — | — | — | (1,000,000 | ) | ||||||||||||||||
Accrued discounts/premiums |
— | — | 1,978 | — | — | 1,978 | ||||||||||||||||||
Net realized gain (loss) |
— | — | (12,715 | ) | — | — | (12,715 | ) | ||||||||||||||||
Net change in unrealized appreciation (depreciation) (c)(d) |
(2,998 | ) | (26,922 | ) | (375,864 | ) | 63,269 | (1,030 | ) | (343,545 | ) | |||||||||||||
Purchases |
— | — | 5,243,951 | — | — | 5,243,951 | ||||||||||||||||||
Sales |
(269,413 | ) | (249,119 | ) | (452,025 | ) | — | — | (970,557 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Closing balance, as of June 30, 2022 |
$ | 1,057,838 | $ | 1,250,557 | $ | 4,405,325 | $ | 5,327,131 | $ | (1,030 | ) | $ | 12,039,821 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (d) |
$ | (2,998 | ) | $ | (26,922 | ) | $ | (375,864 | ) | $ | 63,269 | $ | (1,030 | ) | $ | (343,545 | ) | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
As of December 31, 2021, the Trust used observable inputs in determining the value of certain investments. As of June 30, 2022, 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. |
(b) |
As of December 31, 2021, the Trust used significant unobservable inputs in determining the value of certain investments. As of June 30, 2022, 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. |
(c) |
Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations. |
(d) |
Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 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 |
109 |
Schedule of Investments (unaudited) June 30, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Shares |
Value |
||||||||||
|
||||||||||||
Common Stocks |
||||||||||||
Auto Components — 0.0% |
||||||||||||
Lear Corp. |
178 | $ | 22,408 | |||||||||
|
|
|||||||||||
Construction & Engineering — 0.0% |
||||||||||||
McDermott International Ltd. (a) |
76,644 | 43,687 | ||||||||||
|
|
|||||||||||
Household Durables — 0.0% |
||||||||||||
Berkline Benchcraft Equity LLC (b) |
6,155 | — | ||||||||||
|
|
|||||||||||
Metals & Mining — 0.0% |
||||||||||||
Ameriforge Group, Inc. |
832 | 832 | ||||||||||
Project Investor Holdings LLC, (Acquired 02/12/19, Cost: $131,156) (b)(c) |
7,476 | 621 | ||||||||||
|
|
|||||||||||
1,453 | ||||||||||||
Software — 0.0% |
||||||||||||
Avaya Holdings Corp. (a) |
40 | 90 | ||||||||||
|
|
|||||||||||
Specialty Retail — 0.2% |
||||||||||||
NMG Parent LLC |
2,218 | 385,932 | ||||||||||
|
|
|||||||||||
Total Common Stocks — 0.2% (Cost: $1,378,110) |
453,570 | |||||||||||
|
|
|||||||||||
Par (000) |
||||||||||||
|
||||||||||||
Corporate Bonds |
| |||||||||||
Airlines — 0.3% |
| |||||||||||
Allegiant Travel Co., 8.50%, 02/05/24 (a)(d) |
USD | 740 | 730,750 | |||||||||
|
|
|||||||||||
Auto Components — 0.1% |
||||||||||||
Clarios Global LP, 6.75%, 05/15/25 (a)(d) |
275 | 272,374 | ||||||||||
|
|
|||||||||||
Beverages — 0.1% |
||||||||||||
Triton Water Holdings, Inc., 6.25%, 04/01/29 (a)(d) |
252 | 178,920 | ||||||||||
|
|
|||||||||||
Building Materials — 0.0% |
||||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 (a)(d) |
73 | 63,692 | ||||||||||
|
|
|||||||||||
Building Products — 0.0% |
||||||||||||
White Cap Buyer LLC, 6.88%, 10/15/28 (a)(d) |
155 | 124,000 | ||||||||||
|
|
|||||||||||
Chemicals (a)(d) — 0.1% |
||||||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28 |
32 | 25,280 | ||||||||||
WR Grace Holdings LLC, 5.63%, 08/15/29 |
239 | 175,964 | ||||||||||
|
|
|||||||||||
201,244 | ||||||||||||
Construction Materials — 0.2% |
||||||||||||
Wolverine Escrow LLC, 9.00%, 11/15/26 (a)(d) |
940 | 547,832 | ||||||||||
|
|
|||||||||||
Diversified Telecommunication Services (a)(d) — 0.1% |
| |||||||||||
Lumen Technologies, Inc., 5.38%, 06/15/29 |
246 | 194,777 | ||||||||||
Zayo Group Holdings, Inc., 6.13%, 03/01/28 |
155 | 111,927 | ||||||||||
|
|
|||||||||||
306,704 | ||||||||||||
Electric Utilities (a) — 0.0% |
||||||||||||
Pike Corp., 5.50%, 09/01/28 (d) |
89 | 72,251 | ||||||||||
Texas Competitive Electric Holdings, 1.00%, 11/10/21 (b)(e) |
1,050 | — | ||||||||||
|
|
|||||||||||
72,251 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.2% |
||||||||||||
Vertiv Group Corp., 4.13%, 11/15/28 (a)(d) |
556 | 451,428 | ||||||||||
|
|
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Health Care Equipment & Supplies — 0.1% |
||||||||||||
Avantor Funding, Inc., 3.88%, 11/01/29 (a)(d) |
USD | 231 | $ | 202,044 | ||||||||
|
|
|||||||||||
Health Care Providers & Services — 0.1% |
||||||||||||
Medline Borrower LP, 5.25%, 10/01/29 (a)(d) |
237 | 194,648 | ||||||||||
|
|
|||||||||||
Hotels, Restaurants & Leisure (a)(d) — 0.1% |
||||||||||||
Caesars Entertainment, Inc., 4.63%, 10/15/29 |
240 | 186,600 | ||||||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 01/15/30 |
235 | 180,362 | ||||||||||
|
|
|||||||||||
366,962 | ||||||||||||
Household Products — 0.0% |
||||||||||||
Berkline Benchcraft LLC, 4.50%, 06/01/22 (a)(b)(e)(f) |
400 | — | ||||||||||
|
|
|||||||||||
Insurance — 0.1% |
||||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co- Issuer, 6.75%, 10/15/27 (a)(d) |
220 | 195,224 | ||||||||||
|
|
|||||||||||
Internet Software & Services (a)(d) — 0.1% |
||||||||||||
Uber Technologies, Inc. |
||||||||||||
6.25%, 01/15/28 |
137 | 126,703 | ||||||||||
4.50%, 08/15/29 |
235 | 193,288 | ||||||||||
|
|
|||||||||||
319,991 | ||||||||||||
Machinery — 0.2% |
||||||||||||
Madison IAQ LLC, 5.88%, 06/30/29 (a)(d) |
742 | 568,609 | ||||||||||
|
|
|||||||||||
Media (a)(d) — 0.3% |
||||||||||||
Liberty Broadband Corp., 2.75%, 09/30/50 |
315 | 299,622 | ||||||||||
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23 (g) |
139 | 71,973 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 09/15/26 |
353 | 304,385 | ||||||||||
|
|
|||||||||||
675,980 | ||||||||||||
Oil, Gas & Consumable Fuels — 0.1% |
||||||||||||
Occidental Petroleum Corp., 6.63%, 09/01/30 (a) |
382 | 393,460 | ||||||||||
|
|
|||||||||||
Real Estate Management & Development — 0.0% |
| |||||||||||
Realogy Group LLC/Realogy Co-Issuer Corp., 5.75%, 01/15/29 (a)(d) |
165 | 125,123 | ||||||||||
|
|
|||||||||||
Wireless Telecommunication Services — 0.0% |
| |||||||||||
VICI Properties LP/VICI Note Co., Inc., 4.63%, 06/15/25 (a)(d) |
85 | 80,856 | ||||||||||
|
|
|||||||||||
Total Corporate Bonds — 2.2% (Cost: $7,135,977) |
6,072,092 | |||||||||||
|
|
|||||||||||
Floating Rate Loan Interests (f) |
| |||||||||||
Aerospace & Defense — 5.3% |
| |||||||||||
Atlas CC Acquisition Corp. |
||||||||||||
Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.82%, 05/25/28 |
3,335 | 3,074,182 | ||||||||||
Term Loan C, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.82%, 05/25/28 |
678 | 625,257 | ||||||||||
Bleriot U.S. Bidco, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%), 6.25%, 10/31/26 |
441 | 426,892 | ||||||||||
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, 11/17/28 (h) |
230 | 218,309 | ||||||||||
Dynasty Acquisition Co., Inc. |
||||||||||||
2020 CAD Term Loan B2, (1 mo. LIBOR + 3.50%), 5.17%, 04/06/26 |
1,239 | 1,139,726 | ||||||||||
2020 Term Loan B1, (1 mo. LIBOR + 3.50%), 5.17%, 04/06/26 |
2,305 | 2,119,890 |
110 |
2 0 2 2 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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Aerospace & Defense (continued) |
||||||||||||
Nordam Group, Inc., Term Loan B, (1 mo. LIBOR + 5.50%), 7.19%, 04/09/26 |
USD | 457 | $ | 377,201 | ||||||||
Peraton Corp. |
||||||||||||
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 9.00%, 02/01/29 |
1,048 | 972,521 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 02/01/28 |
3,529 | 3,306,140 | ||||||||||
Spirit Aerosystems, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 01/15/25 |
608 | 591,218 | ||||||||||
TransDigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 3.92%, 12/09/25 |
1,557 | 1,472,695 | ||||||||||
|
|
|||||||||||
14,324,031 | ||||||||||||
Air Freight & Logistics — 0.4% |
||||||||||||
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.72%, 04/06/28 |
359 | 323,656 | ||||||||||
Kestrel Bidco, Inc., Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.03%, 12/11/26 |
256 | 228,784 | ||||||||||
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 12/15/28 |
595 | 535,633 | ||||||||||
|
|
|||||||||||
1,088,073 | ||||||||||||
Airlines — 3.0% |
||||||||||||
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.81%, 04/20/28 |
1,009 | 960,898 | ||||||||||
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28 (b) |
1,261 | 1,157,059 | ||||||||||
American Airlines, Inc. |
||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 3.40%, 01/29/27 |
633 | 555,820 | ||||||||||
2017 Incremental Term Loan, (6 mo. LIBOR + 2.00%), 2.84%, 12/15/23 |
961 | 927,156 | ||||||||||
2018 Term Loan B, (1 mo. LIBOR + 1.75%), 3.37%, 06/27/25 |
309 | 273,432 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 7.31%, 06/21/27 |
2,132 | 2,102,188 | ||||||||||
United Airlines, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.39%, 04/21/28 |
2,283 | 2,116,160 | ||||||||||
|
|
|||||||||||
8,092,713 | ||||||||||||
Auto Components — 2.8% |
||||||||||||
Adient U.S. LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 04/10/28 |
503 | 466,876 | ||||||||||
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 04/30/26 |
2,248 | 2,093,503 | ||||||||||
Truck Hero, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.75% Floor), 5.17%, 01/31/28 |
1,253 | 1,117,914 | ||||||||||
USI, Inc. |
||||||||||||
2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 5.25%, 05/16/24 |
2,324 | 2,224,174 | ||||||||||
2019 Incremental Term Loan B, (3 mo. LIBOR + 3.25%), 5.50%, 12/02/26 |
133 | 122,327 | ||||||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 02/05/26 |
1,589 | 1,471,303 | ||||||||||
|
|
|||||||||||
7,496,097 |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Banks — 0.9% |
||||||||||||
Directv Financing LLC, Term Loan, (1 mo. LIBOR + 5.00%, 0.75% Floor), 6.67%, 08/02/27 |
USD | 1,538 | $ | 1,411,891 | ||||||||
LABL, Inc., 2021 USD 1st Lien Term Loan, (1 mo. LIBOR + 5.00%), 6.67%, 10/29/28 |
995 | 917,062 | ||||||||||
|
|
|||||||||||
2,328,953 | ||||||||||||
Beverages — 0.8% |
||||||||||||
Naked Juice LLC |
||||||||||||
2nd Lien Term Loan, (SOFR + 6.00%), 8.15%, 01/24/30 (b) |
726 | 653,648 | ||||||||||
Term Loan, (SOFR + 3.25%), 5.40%, 01/24/29 |
1,568 | 1,456,319 | ||||||||||
|
|
|||||||||||
2,109,967 | ||||||||||||
Building Materials — 0.1% |
||||||||||||
Cornerstone Building Brands, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%,), 4.57%, 04/12/28 |
260 | 214,453 | ||||||||||
MI Windows & Doors LLC, 2022 Term Loan, (SOFR + 3.50%), 5.13%, 12/18/27 |
— | (i) |
407 | |||||||||
|
|
|||||||||||
214,860 | ||||||||||||
Building Products — 1.8% |
||||||||||||
CP Atlas Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 11/23/27 |
909 | 795,919 | ||||||||||
CPG International LLC, 2022 Term Loan B, (SOFR + 2.50%), 4.09%, 04/28/29 (b) |
483 | 446,775 | ||||||||||
Jeld-Wen, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 07/28/28 |
508 | 480,774 | ||||||||||
New AMI I LLC, 2022 Term Loan B, (SOFR + 6.00%), 7.52%, 03/08/29 |
525 | 477,310 | ||||||||||
Standard Industries, Inc., 2021 Term Loan B, (6 mo. LIBOR + 2.50%), 3.79%, 09/22/28 |
1,002 | 966,015 | ||||||||||
Wilsonart LLC, 2021 Term Loan E, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.51%, 12/31/26 |
1,966 | 1,736,251 | ||||||||||
|
|
|||||||||||
4,903,044 | ||||||||||||
Capital Markets — 3.4% |
||||||||||||
AqGen Ascensus, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.50%), 7.50%, 08/02/29 (b) |
1,663 | 1,546,346 | ||||||||||
Deerfield Dakota Holding LLC |
||||||||||||
2020 USD Term Loan B, (SOFR + 3.75%, 1.00% Floor), 5.28%, 04/09/27 |
3,811 | 3,558,730 | ||||||||||
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 8.42%, 04/07/28 |
1,114 | 1,080,580 | ||||||||||
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 5.31%, 11/12/27 |
938 | 881,188 | ||||||||||
FinCo I LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 06/27/25 |
508 | 483,068 | ||||||||||
Focus Financial Partners LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.50%), 4.17%, 06/30/28 |
911 | 870,760 | ||||||||||
Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 04/12/24 |
721 | 707,533 | ||||||||||
|
|
|||||||||||
9,128,205 | ||||||||||||
Chemicals — 5.4% |
||||||||||||
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 7.00%, 08/27/26 |
1,567 | 1,523,412 | ||||||||||
Atotech BV, 2021 USD Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 03/18/28 |
2,134 | 2,033,882 | ||||||||||
Axalta Coating Systems U.S. Holdings, Inc., USD Term Loan B3, (3 mo. LIBOR + 1.75%), 4.00%, 06/01/24 |
431 | 419,375 | ||||||||||
CPC Acquisition Corp., Term Loan, (3 mo. LIBOR + 3.75%), 6.00%, 12/29/27 |
451 | 392,994 |
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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Chemicals (continued) |
||||||||||||
Element Materials Technology Group U.S. Holdings, Inc., 2017 USD Term Loan B, 06/28/24 |
USD | 709 | $ | 682,174 | ||||||||
Element Solutions, Inc., 2019 Term Loan B1, (1 mo. LIBOR + 2.00%), 3.67%, 01/31/26 |
1,229 | 1,210,497 | ||||||||||
Illuminate Buyer LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 06/30/27 |
862 | 794,770 | ||||||||||
Lonza Group AG, USD Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.25%, 07/03/28 |
665 | 592,246 | ||||||||||
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 4.75%, 03/02/26 |
1,506 | 1,434,335 | ||||||||||
Minerals Technologies, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 3.87%, 02/14/24 |
262 | 261,276 | ||||||||||
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/15/24 |
928 | 895,144 | ||||||||||
Oxea Holding Drei GmbH, 2017 USD Term Loan B2, (1 mo. LIBOR + 3.25%), 4.38%, 10/14/24 |
1,066 | 983,794 | ||||||||||
PQ Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.50%), 3.74%, 06/09/28 |
1,072 | 1,022,582 | ||||||||||
Pregis TopCo Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 5.67%, 07/31/26 |
434 | 408,887 | ||||||||||
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (6 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 03/16/27 |
653 | 581,307 | ||||||||||
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.62%, 08/02/28 (b) |
1,020 | 971,274 | ||||||||||
Starfruit Finco BV, 2018 USD Term Loan B, (3 mo. LIBOR + 3.00%), 5.25%, 10/01/25 |
99 | 92,981 | ||||||||||
WR Grace Holdings LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.75%), 6.06%, 09/22/28 |
332 | 314,550 | ||||||||||
|
|
|||||||||||
14,615,480 | ||||||||||||
Commercial Services & Supplies — 6.2% |
||||||||||||
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 05/12/28 |
1,621 | 1,482,705 | ||||||||||
Amentum Government Services Holdings LLC, 2022 Term Loan, (SOFR + 4.00%), 5.30%, 02/15/29 |
488 | 463,297 | ||||||||||
Aramark Services, Inc., 2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 3.42%, 03/11/25 |
95 | 91,194 | ||||||||||
Asurion LLC |
||||||||||||
2018 Term Loan B6, (1 mo. LIBOR + 3.12%), 4.79%, 11/03/23 |
830 | 795,966 | ||||||||||
2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 4.67%, 11/03/24 |
694 | 649,312 | ||||||||||
2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 4.92%, 12/23/26 |
485 | 438,693 | ||||||||||
2021 2nd Lien Term Loan B3, (1 mo. LIBOR + 5.25%), 6.92%, 01/31/28 |
689 | 585,397 | ||||||||||
2021 2nd Lien Term Loan B4, (1 mo. LIBOR + 5.25%), 6.92%, 01/20/29 |
984 | 831,480 | ||||||||||
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.00%), 3.67%, 10/08/28 |
432 | 427,512 | ||||||||||
Covanta Holding Corp. |
||||||||||||
2021 Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 11/30/28 |
703 | 663,019 | ||||||||||
2021 Term Loan C, 11/30/28 |
53 | 49,789 | ||||||||||
Creative Artists Agency LLC, 2020 Incremental Term Loan B1, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.88%, 11/27/26 |
1,201 | 1,135,717 |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Commercial Services & Supplies (continued) |
| |||||||||||
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 12/12/25 |
USD | 1,572 | $ | 1,496,951 | ||||||||
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 6.00%, 05/09/25 |
319 | 294,913 | ||||||||||
Packers Holdings LLC, 2021 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.44%, 03/09/28 |
1,036 | 946,127 | ||||||||||
Prime Security Services Borrower LLC, 2021 Term Loan, (3 mo. LIBOR + 2.75%, 0.75% Floor), 3.65%, 09/23/26 |
1,218 | 1,134,002 | ||||||||||
Tempo Acquisition LLC, 2022 Term Loan B, (SOFR + 3.00%), 4.53%, 08/31/28 |
2,977 | 2,817,163 | ||||||||||
Vericast Corp., 2021 Term Loan, (3 mo. LIBOR + 7.75%, 1.00% Floor), 10.00%, 06/16/26 |
207 | 160,353 | ||||||||||
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 5.67%, 08/27/25 |
1,928 | 1,841,425 | ||||||||||
Viad Corp., Initial Term Loan, (1 mo. LIBOR + 5.00%), 6.67%, 07/30/28 |
485 | 453,786 | ||||||||||
|
|
|||||||||||
16,758,801 | ||||||||||||
Communications Equipment — 0.5% |
||||||||||||
ViaSat, Inc., Term Loan, (SOFR + 4.50%), 6.14%, 03/02/29 |
1,560 | 1,448,878 | ||||||||||
|
|
|||||||||||
Construction & Engineering — 2.2% |
||||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.40%, 06/21/24 |
2,477 | 2,134,234 | ||||||||||
New Arclin U.S. Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 8.67%, 09/30/29 (b) |
572 | 539,110 | ||||||||||
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 01/21/28 |
644 | 611,036 | ||||||||||
SRS Distribution, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 4.02%, 06/02/28 |
1,720 | 1,582,936 | ||||||||||
USIC Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 5.17%, 05/12/28 |
1,085 | 1,007,261 | ||||||||||
|
|
|||||||||||
5,874,577 | ||||||||||||
Construction Materials — 1.6% |
||||||||||||
Core & Main LP, 2021 Term Loan B, (1 mo. LIBOR + 2.50%), 4.12%, 07/27/28 |
2,540 | 2,414,356 | ||||||||||
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 03/29/25 |
1,471 | 1,390,063 | ||||||||||
Tamko Building Products LLC, Term Loan B, (3 mo. LIBOR + 3.00%), 4.33%, 06/01/26 |
536 | 500,217 | ||||||||||
|
|
|||||||||||
4,304,636 | ||||||||||||
Containers & Packaging — 1.6% |
||||||||||||
BWAY Holding Co., 2017 Term Loan B, (1 Week LIBOR + 3.25%), 4.31%, 04/03/24 |
1,478 | 1,386,813 | ||||||||||
Charter Next Generation, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 12/01/27 |
1,419 | 1,332,561 | ||||||||||
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 5.67%, 07/31/26 |
381 | 359,326 | ||||||||||
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 5.17%, 08/18/27 |
729 | 646,939 |
112 |
2 0 2 2 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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Containers & Packaging (continued) |
||||||||||||
Trident TPI Holdings, Inc. |
||||||||||||
2021 Delayed Draw Term Loan, (3 mo. LIBOR + 4.00%), 5.60%, 09/15/28 |
USD | 55 | $ | 51,899 | ||||||||
2021 Incremental Term Loan, (3 mo. LIBOR + 4.00%), 6.25%, 09/15/28 |
622 | 582,090 | ||||||||||
|
|
|||||||||||
4,359,628 | ||||||||||||
Distributors — 1.0% |
||||||||||||
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 3.67%, 01/15/27 |
736 | 695,083 | ||||||||||
TMK Hawk Parent Corp. (b) |
||||||||||||
2020 Super Priority First Out Term Loan A, (1 mo. LIBOR + 10.50%, 1.00% Floor), 11.17%, 05/30/24 |
592 | 550,161 | ||||||||||
2020 Super Priority Second Out Term Loan B, 08/28/24 |
1,900 | 1,444,197 | ||||||||||
|
|
|||||||||||
2,689,441 | ||||||||||||
Diversified Consumer Services — 3.6% |
||||||||||||
2U, Inc., Term Loan, (3 mo. LIBOR + 5.75%), 8.00%, 12/30/24 |
884 | 843,553 | ||||||||||
Ascend Learning LLC |
||||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 7.42%, 12/10/29 (b) |
482 | 441,030 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 12/11/28 |
1,191 | 1,097,223 | ||||||||||
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 11/24/28 (b) |
575 | 547,792 | ||||||||||
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 07/11/25 |
1,388 | 1,317,079 | ||||||||||
Midas Intermediate Holdco II LLC, 2020 Term Loan B, (PRIME + 5.75%), 10.50%, 12/22/25 |
1,916 | 1,793,213 | ||||||||||
Nomad Foods Europe Midco Ltd., 2017 USD Term Loan B4, (3 mo. LIBOR + 2.25%), 3.66%, 05/15/24 |
686 | 659,118 | ||||||||||
Okta, Inc., Term Loan, (SOFR + 6.25%), 7.63%, 12/15/26 |
539 | 455,252 | ||||||||||
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.99%, 10/28/27 |
433 | 407,189 | ||||||||||
Serta Simmons Bedding LLC |
||||||||||||
2020 Super Priority First Out Term Loan, (1 mo. LIBOR + 7.50%), 9.01%, 08/10/23 |
287 | 278,296 | ||||||||||
2020 Super Priority Second Out Term Loan, (1 mo. LIBOR + 7.50%, 1.00% Floor), 9.01%, 08/10/23 |
452 | 315,441 | ||||||||||
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%), 5.54%, 01/15/27 |
1,100 | 1,050,617 | ||||||||||
Voyage Australia Pty. Ltd., USD Term Loan B, (3 mo. LIBOR + 3.50%), 4.56%, 07/20/28 |
458 | 426,947 | ||||||||||
|
|
|||||||||||
9,632,750 | ||||||||||||
Diversified Financial Services — 8.1% |
||||||||||||
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 6.17%, 07/31/26 |
630 | 598,249 | ||||||||||
Alchemy Copyrights LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 4.06%, 03/10/28 (b) |
521 | 501,217 | ||||||||||
AlixPartners LLP, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 02/04/28 |
1,073 | 1,017,803 | ||||||||||
AqGen Island Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 5.81%, 08/02/28 (b) |
2,197 | 2,043,334 | ||||||||||
Castlelake Aviation Ltd., Term Loan B, (3 mo. LIBOR + 2.75%), 4.58%, 10/22/26 |
1,440 | 1,374,531 |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Diversified Financial Services (continued) |
||||||||||||
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.50%), 4.17%, 09/01/28 |
USD | 990 | $ | 942,464 | ||||||||
Delta TopCo, Inc. |
||||||||||||
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 9.34%, 12/01/28 (b) |
412 | 350,200 | ||||||||||
2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 5.84%, 12/01/27 |
1,071 | 967,647 | ||||||||||
EG America LLC, 2018 USD Term Loan, (3 mo. LIBOR + 4.00%), 6.25%, 02/07/25 |
558 | 522,975 | ||||||||||
Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 6.25%, 10/01/27 |
1,919 | 1,810,577 | ||||||||||
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (SOFR + 4.00%), 6.20%, 02/16/28 |
263 | 247,569 | ||||||||||
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.17%, 07/03/24 |
1,029 | 979,695 | ||||||||||
KKR Apple Bidco LLC |
||||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 7.42%, 09/21/29 |
153 | 145,924 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 09/23/28 |
373 | 351,514 | ||||||||||
LBM Acquisition LLC, Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 12/18/27 |
1,438 | 1,175,176 | ||||||||||
LEB Holdings USA, Inc., Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 11/02/27 |
151 | 147,670 | ||||||||||
Oscar Acquisitionco LLC, Term Loan B, (SOFR + 4.50%), 6.11%, 04/29/29 |
683 | 606,162 | ||||||||||
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 09/25/26 |
1,350 | 1,252,364 | ||||||||||
RVR Dealership Holdings LLC, Term Loan B, (SOFR + 3.75%), 5.17%, 02/08/28 |
453 | 379,503 | ||||||||||
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3 mo. LIBOR + 2.00%), 4.25%, 11/05/28 |
826 | 784,014 | ||||||||||
SMG U.S. Midco 2, Inc., 2020 Term Loan, (1 mo. LIBOR + 2.50%), 4.17%, 01/23/25 |
944 | 878,048 | ||||||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 6.50%, 07/30/25 |
620 | 575,990 | ||||||||||
Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.25%, 09/01/25 |
2,295 | 1,872,368 | ||||||||||
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 02/28/27 |
908 | 852,337 | ||||||||||
White Cap Buyer LLC, Term Loan B, (SOFR + 3.75%), 5.28%, 10/19/27 |
759 | 696,848 | ||||||||||
Ziggo Financing Partnership, USD Term Loan I, (1 mo. LIBOR + 2.50%), 3.82%, 04/30/28 |
1,003 | 933,101 | ||||||||||
|
|
|||||||||||
22,007,280 | ||||||||||||
Diversified Telecommunication Services — 2.2% |
||||||||||||
Cablevision Lightpath LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 4.57%, 11/30/27 |
351 | 329,841 | ||||||||||
Consolidated Communications, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 5.19%, 10/02/27 |
497 | 438,144 | ||||||||||
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.06%, 05/01/28 |
1,222 | 1,141,231 | ||||||||||
Iridium Satellite LLC, 2021 Term Loan B2, (1 mo. LIBOR + 2.50%, 0.75% Floor), 4.17%, 11/04/26 |
1,192 | 1,141,387 |
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) (continued) June 30, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Diversified Telecommunication Services (continued) |
| |||||||||||
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 3.42%, 03/01/27 |
USD | 1,183 | $ | 1,093,148 | ||||||||
Meridian Adhesives Group, Inc., Term Loan B, (3 mo. LIBOR + 4.00%), 4.75%, 07/24/28 |
1,251 | 1,180,362 | ||||||||||
Virgin Media SFA Finance Ltd., GBP Term Loan L, 4.19%, 01/15/27 |
GBP | 600 | 659,285 | |||||||||
|
|
|||||||||||
5,983,398 | ||||||||||||
Electric Utilities — 0.9% |
||||||||||||
ExGen Renewables IV LLC, 2020 Term Loan, (3 mo. LIBOR + 2.50%, 1.00% Floor), 4.08%, 12/15/27 |
USD | 772 | 742,771 | |||||||||
Triton Water Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 5.75%, 03/31/28 |
1,994 | 1,758,348 | ||||||||||
|
|
|||||||||||
2,501,119 | ||||||||||||
Electrical Equipment — 1.3% |
||||||||||||
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (6 mo. LIBOR + 4.75%, 0.75% Floor), 7.63%, 06/23/28 (b) |
947 | 887,667 | ||||||||||
AZZ, Inc., Term Loan B, (SOFR + 4.25%), 5.88%, 05/13/29 (b) |
203 | 193,358 | ||||||||||
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.50%, 0.75% Floor), 4.17%, 03/31/27 |
1,499 | 1,411,477 | ||||||||||
II-VI, Inc., 2021 Bridge Term Loan B, 07/02/29 (h) |
1,070 | 1,023,187 | ||||||||||
|
|
|||||||||||
3,515,689 | ||||||||||||
Environmental, Maintenance & Security Service — 0.7% |
||||||||||||
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 3.42%, 09/07/27 |
1,217 | 1,171,732 | ||||||||||
TruGreen LP, 2020 Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 11/02/27 |
750 | 711,523 | ||||||||||
|
|
|||||||||||
1,883,255 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.2% |
||||||||||||
RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 3.67%, 05/11/24 |
612 | 600,260 | ||||||||||
|
|
|||||||||||
Food & Staples Retailing — 0.4% |
||||||||||||
U.S. Foods, Inc. |
||||||||||||
2019 Term Loan B, (3 mo. LIBOR + 2.00%), 3.57%, 09/13/26 |
755 | 710,325 | ||||||||||
2021 Term Loan B, (3 mo. LIBOR + 2.75%), 4.32%, 11/22/28 |
463 | 439,644 | ||||||||||
|
|
|||||||||||
1,149,969 | ||||||||||||
Food Products — 2.2% |
||||||||||||
8th Avenue Food & Provisions, Inc. |
||||||||||||
2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/01/25 |
737 | 618,221 | ||||||||||
2021 Incremental Term Loan, (1 mo. LIBOR + 4.75%), 6.42%, 10/01/25 |
944 | 797,774 | ||||||||||
Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.17%, 10/25/27 |
1,207 | 1,091,848 | ||||||||||
Froneri International Ltd., 2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 3.92%, 01/29/27 |
2,190 | 2,010,448 | ||||||||||
Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1 mo. LIBOR + 3.25%), 4.92%, 02/05/26 |
248 | 230,525 |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Food Products (continued) |
||||||||||||
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 06/08/28 |
USD | 939 | $ | 883,870 | ||||||||
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 01/20/28 |
424 | 403,039 | ||||||||||
|
|
|||||||||||
6,035,725 | ||||||||||||
Gas Utilities — 0.7% |
||||||||||||
Freeport LNG Investments LLLP, Term Loan B, (3 mo. LIBOR + 3.50%), 4.56%, 12/21/28 |
2,068 | 1,782,013 | ||||||||||
|
|
|||||||||||
Health Care Equipment & Supplies — 1.7% |
| |||||||||||
Electron BidCo, Inc., 2021 Term Loan, 11/01/28 |
1,358 | 1,268,737 | ||||||||||
Insulet Corp., Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/04/28 |
474 | 449,314 | ||||||||||
Medline Borrower LP, USD Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 10/23/28 |
2,695 | 2,495,277 | ||||||||||
Venga Finance SARL, 2021 USD Term Loan B, 12/04/28 (b)(h) |
402 | 373,601 | ||||||||||
|
|
|||||||||||
4,586,929 | ||||||||||||
Health Care Providers & Services — 3.2% |
||||||||||||
CCRR Parent, Inc., Term Loan B, (3 mo. LIBOR + 3.75%), 6.01%, 03/06/28 |
1,005 | 950,989 | ||||||||||
CHG Healthcare Services, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.75%, 09/29/28 |
634 | 598,375 | ||||||||||
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 6.25%, 01/08/27 |
898 | 848,190 | ||||||||||
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/10/25 |
1,184 | 389,537 | ||||||||||
EyeCare Partners LLC |
||||||||||||
2020 Term Loan, (3 mo. LIBOR + 3.75%), 6.00%, 02/18/27 |
1,040 | 959,153 | ||||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%), 9.00%, 11/15/29 |
358 | 338,595 | ||||||||||
2021 Incremental Term Loan, (3 mo. LIBOR + 3.75%), 6.00%, 11/15/28 |
332 | 305,116 | ||||||||||
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 6.75%, 03/05/26 |
647 | 562,960 | ||||||||||
Orbcomm, Inc., Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 09/01/28 |
540 | 497,996 | ||||||||||
PetVet Care Centers LLC, 2021 Term Loan B3, (1 mo. LIBOR + 3.50%), 5.17%, 02/14/25 |
32 | 30,576 | ||||||||||
Sotera Health Holdings LLC, 2021 Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 12/11/26 |
1,564 | 1,483,845 | ||||||||||
Vizient, Inc., 2022 Term Loan B, (SOFR + 2.25%), 3.68%, 04/28/29 |
209 | 207,171 | ||||||||||
WP CityMD Bidco LLC, 2021 1st Lien Term Loan B, (3 mo. LIBOR + 3.25%), 5.50%, 12/22/28 |
1,513 | 1,421,886 | ||||||||||
|
|
|||||||||||
8,594,389 | ||||||||||||
Health Care Services — 0.3% |
||||||||||||
Azalea Topco, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 4.74%, 07/24/26 |
600 | 560,500 | ||||||||||
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%), 9.88%, 11/01/29 |
377 | 346,840 | ||||||||||
|
|
|||||||||||
907,340 | ||||||||||||
Health Care Technology — 3.2% |
||||||||||||
Athenahealth, Inc., 2022 Term Loan B, (SOFR + 3.50%), 5.01%, 02/15/29 |
1,783 | 1,636,674 |
114 |
2 0 2 2 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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Health Care Technology (continued) |
||||||||||||
Change Healthcare Holdings LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.50%, 1.00% Floor), 4.17%, 03/01/24 |
USD | 852 | $ | 827,829 | ||||||||
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 10/10/25 |
590 | 537,562 | ||||||||||
IQVIA, Inc., 2017 USD Term Loan B1, (1 mo. LIBOR + 1.75%), 3.42%, 03/07/24 |
292 | 285,806 | ||||||||||
Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%), 5.67%, 06/02/28 |
2,686 | 2,474,716 | ||||||||||
Press Ganey Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%), 4.99%, 07/24/26 (b) |
1,039 | 984,095 | ||||||||||
Verscend Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 8.67%, 04/02/29 (b) |
1,902 | 1,787,880 | ||||||||||
|
|
|||||||||||
8,534,562 | ||||||||||||
Hotels, Restaurants & Leisure — 6.7% |
||||||||||||
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 3.42%, 11/19/26 |
1,003 | 955,778 | ||||||||||
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 02/02/26 |
129 | 114,979 | ||||||||||
Aristocrat Technologies, Inc., 2022 Term Loan B, (SOFR + 2.25%), 4.40%, 05/24/29 |
124 | 119,474 | ||||||||||
Caesars Resort Collection LLC |
||||||||||||
2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 12/23/24 |
1,104 | 1,061,071 | ||||||||||
2020 Term Loan B1, (1 mo. LIBOR + 3.50%), 5.17%, 07/20/25 |
751 | 722,651 | ||||||||||
Carnival Corp., (6 mo. LIBOR + 3.00%, 0.75% Floor), 5.88%, 06/30/25 |
443 | 410,286 | ||||||||||
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1 mo. LIBOR + 2.00%), 3.67%, 03/17/28 |
479 | 450,599 | ||||||||||
ECL Entertainment LLC, Term Loan, (3 mo. LIBOR + 7.50%, 0.75% Floor), 9.75%, 05/01/28 |
567 | 552,737 | ||||||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.25%, 03/08/24 |
2,740 | 2,027,829 | ||||||||||
Fertitta Entertainment LLC, 2022 Term Loan B, (SOFR + 4.00%), 5.53%, 01/27/29 |
2,097 | 1,928,452 | ||||||||||
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 3.67%, 11/30/23 |
809 | 798,519 | ||||||||||
IRB Holding Corp., 2020 Term Loan B, (6 mo. LIBOR + 2.75%, 1.00% Floor), 4.42%, 02/05/25 |
974 | 921,893 | ||||||||||
Penn National Gaming, Inc., 2022 Term Loan B, (SOFR + 2.75%), 4.38%, 05/03/29 |
920 | 880,003 | ||||||||||
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 03/13/28 |
1,061 | 998,103 | ||||||||||
Scientific Games International, Inc., 2022 USD Term Loan, (SOFR + 3.00%), 4.36%, 04/14/29 |
505 | 478,488 | ||||||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 4.50%, 07/21/26 |
689 | 653,622 | ||||||||||
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 02/08/27 |
1,266 | 1,188,522 | ||||||||||
Travelport Finance Luxembourg SARL |
||||||||||||
2020 Super Priority Term Loan, (3 mo. LIBOR + 1.50%, 1.00% Floor), 3.75%, 02/28/25 |
875 | 863,049 | ||||||||||
2021 Consented Term Loan, (3 mo. LIBOR + 5.00%), 7.25%, 05/29/26 (h) |
1,026 | 789,580 |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Hotels, Restaurants & Leisure (continued) |
||||||||||||
Twin River Worldwide Holdings, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 4.37%, 10/02/28 |
USD | 557 | $ | 515,292 | ||||||||
Whatabrands LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 08/03/28 |
1,402 | 1,310,828 | ||||||||||
Wyndham Hotels & Resorts, Inc., Term Loan B, 05/30/25 |
332 | 319,698 | ||||||||||
|
|
|||||||||||
18,061,453 | ||||||||||||
Household Durables — 1.6% |
||||||||||||
ACProducts Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.25%), 6.97%, 05/17/28 |
1,019 | 784,702 | ||||||||||
Reynolds Consumer Products LLC, Term Loan, (1 mo. LIBOR + 1.75%), 3.42%, 02/04/27 |
930 | 891,783 | ||||||||||
Snap One Holdings Corp., Term Loan B, (6 mo. LIBOR + 4.50%), 7.38%, 12/08/28 |
666 | 603,511 | ||||||||||
Solis IV BV, USD Term Loan B1, (SOFR + 3.50%), 4.84%, 02/26/29 |
1,394 | 1,196,233 | ||||||||||
Springs Windows Fashions LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.60%, 10/06/28 |
511 | 418,152 | ||||||||||
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.92%, 10/30/27 |
634 | 573,729 | ||||||||||
|
|
|||||||||||
4,468,110 | ||||||||||||
Household Products — 0.1% |
||||||||||||
Spectrum Brands, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.00%), 3.67%, 03/03/28 |
331 | 317,994 | ||||||||||
|
|
|||||||||||
Independent Power and Renewable Electricity Producers — 0.6% |
| |||||||||||
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 3.67%, 01/15/25 |
312 | 298,648 | ||||||||||
Calpine Corp. |
||||||||||||
2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 3.67%, 08/12/26 |
468 | 443,330 | ||||||||||
Term Loan B9, (1 mo. LIBOR + 2.00%), 3.67%, 04/05/26 |
871 | 818,948 | ||||||||||
|
|
|||||||||||
1,560,926 | ||||||||||||
Industrial Conglomerates — 2.5% |
||||||||||||
AVSC Holding Corp. (g) |
||||||||||||
2020 Term Loan B1, (0.25% PIK), 5.11%, 03/03/25 |
1,498 | 1,283,344 | ||||||||||
2020 Term Loan B3, (10.00% PIK), 7.50%, 10/15/26 |
|
810 | 853,968 | |||||||||
Diamond BC BV, 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.99%, 09/29/28 |
1,072 | 987,789 | ||||||||||
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 8.30%, 11/28/23 |
418 | 414,308 | ||||||||||
Stitch Aquisition Corp., Term Loan B, (3 mo. LIBOR + 6.75%), 9.00%, 07/28/28 |
673 | 597,636 | ||||||||||
Vertical U.S. Newco, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 4.02%, 07/30/27 |
1,170 | 1,090,177 | ||||||||||
Vertiv Group Corp., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 3.87%, 03/02/27 |
1,814 | 1,682,793 | ||||||||||
|
|
|||||||||||
6,910,015 | ||||||||||||
Insurance — 4.5% |
||||||||||||
Alliant Holdings Intermediate LLC |
||||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/09/25 |
1,779 | 1,671,193 |
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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Insurance (continued) |
||||||||||||
Alliant Holdings Intermediate LLC (continued) |
| |||||||||||
2021 Term Loan B4, (1 mo. LIBOR + 3.50%), 5.01%, 11/06/27 |
USD | 2,351 | $ | 2,181,397 | ||||||||
Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/09/25 |
628 | 592,939 | ||||||||||
AmWINS Group, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 02/19/28 |
1,194 | 1,125,569 | ||||||||||
AssuredPartners, Inc. |
||||||||||||
2020 Term Loan B, (1 mo. LIBOR + 3.50%), 5.17%, 02/12/27 |
627 | 586,206 | ||||||||||
2021 Term Loan B, (1 mo. LIBOR + 3.50%), 5.17%, 02/12/27 |
606 | 566,372 | ||||||||||
Hub International Ltd. |
||||||||||||
2018 Term Loan B, (3 mo. LIBOR + 3.00%), 4.21%, 04/25/25 |
1,765 | 1,667,502 | ||||||||||
2021 Term Loan B, (3 mo. LIBOR + 3.25%), 4.35%, 04/25/25 |
1,657 | 1,568,057 | ||||||||||
NFP Corp., 2020 Term Loan, (1 mo. LIBOR + 3.25%), 4.92%, 02/15/27 |
115 | 106,138 | ||||||||||
Ryan Specialty Group LLC, Term Loan, (SOFR + 3.00%, 0.75% Floor), 4.63%, 09/01/27 (b) |
705 | 676,777 | ||||||||||
Sedgwick Claims Management Services, Inc. |
| |||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 12/31/25 |
487 | 456,267 | ||||||||||
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 09/03/26 |
625 | 593,105 | ||||||||||
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.92%, 09/03/26 |
506 | 487,866 | ||||||||||
|
|
|||||||||||
12,279,388 | ||||||||||||
Interactive Media & Services — 2.5% |
||||||||||||
Adevinta ASA, USD Term Loan B, (3 mo. LIBOR + 3.00%, 0.75% Floor), 5.25%, 06/26/28 |
1,530 | 1,459,079 | ||||||||||
Arches Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 12/06/27 |
454 | 413,468 | ||||||||||
Camelot U.S. Acquisition LLC, 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.67%, 10/30/26 |
1,746 | 1,642,144 | ||||||||||
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 3.67%, 08/10/27 |
453 | 434,630 | ||||||||||
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26 |
3,134 | 2,851,914 | ||||||||||
|
|
|||||||||||
6,801,235 | ||||||||||||
Internet & Direct Marketing Retail — 0.5% |
||||||||||||
CNT Holdings I Corp., 2020 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.69%, 11/08/27 |
1,157 | 1,096,027 | ||||||||||
PUG LLC, 2021 Incremental Term Loan B, (1 mo. LIBOR + 4.25%), 5.92%, 02/12/27 (b) |
228 | 210,584 | ||||||||||
|
|
|||||||||||
1,306,611 | ||||||||||||
Internet Software & Services — 0.4% |
||||||||||||
Uber Technologies, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 5.07%, 02/25/27 |
1,096 | 1,046,600 | ||||||||||
|
|
|||||||||||
IT Services — 7.1% |
||||||||||||
Aruba Investments, Inc. |
||||||||||||
2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%), 9.38%, 11/24/28 |
885 | 836,325 | ||||||||||
2020 USD Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.63%, 11/24/27 (b) |
473 | 435,188 |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
IT Services (continued) |
||||||||||||
Banff Merger Sub, Inc., 2021 USD Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/02/25 |
USD | 1,259 | $ | 1,169,831 | ||||||||
Camelot Finance SA, Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 10/30/26 |
1,351 | 1,275,625 | ||||||||||
CCC Intelligent Solutions, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 4.50%, 09/21/28 |
1,043 | 986,972 | ||||||||||
CoreLogic, Inc. |
||||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 8.19%, 06/04/29 (b) |
873 | 628,848 | ||||||||||
Term Loan, (1 mo. LIBOR + 3.50%), 5.19%, 06/02/28 |
2,090 | 1,732,254 | ||||||||||
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 1.75%), 3.42%, 04/28/28 |
1,258 | 1,207,674 | ||||||||||
Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 12/01/27 |
3,082 | 2,938,972 | ||||||||||
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 02/12/27 (b) |
1,564 | 1,407,466 | ||||||||||
Sophia LP, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.00%, 1.00% Floor), 10.25%, 10/09/28 |
2,590 | 2,570,575 | ||||||||||
Trans Union LLC |
||||||||||||
2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 3.42%, 11/16/26 |
1,150 | 1,082,932 | ||||||||||
2021 Term Loan B6, (1 mo. LIBOR + 2.25%), 3.92%, 12/01/28 |
1,612 | 1,533,341 | ||||||||||
Virtusa Corp., 1st Lien Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 02/11/28 |
645 | 607,359 | ||||||||||
WEX, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.25%), 3.92%, 03/31/28 |
603 | 578,854 | ||||||||||
ZoomInfo LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 4.67%, 02/02/26 |
135 | 130,191 | ||||||||||
|
|
|||||||||||
19,122,407 | ||||||||||||
Leisure Products — 0.5% |
||||||||||||
Fender Musical Instruments Corp., 2021 Term Loan B, (SOFR + 4.00%), 5.23%, 12/01/28 |
604 | 570,171 | ||||||||||
MND Holdings III Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.17%, 06/19/24 |
613 | 598,288 | ||||||||||
Peloton Interactive, Inc., Term Loan, (SOFR + 6.50%), 8.35%, 05/25/27 |
213 | 202,484 | ||||||||||
|
|
|||||||||||
1,370,943 | ||||||||||||
Life Sciences Tools & Services — 3.3% |
||||||||||||
Avantor Funding, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.25%), 3.92%, 11/08/27 |
1,641 | 1,569,719 | ||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.17%, 02/04/27 |
2,714 | 2,500,940 | ||||||||||
ICON Luxembourg SARL |
||||||||||||
LUX Term Loan, (3 mo. LIBOR + 2.25%), 4.56%, 07/03/28 |
1,713 | 1,652,437 | ||||||||||
US Term Loan, (3 mo. LIBOR + 2.25%), 4.56%, 07/03/28 |
427 | 411,707 | ||||||||||
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (SOFR + 3.00%), 3.85%, 10/19/27 (b) |
925 | 876,493 | ||||||||||
Parexel International Corp., 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.88%, 11/15/28 |
2,113 | 1,979,968 | ||||||||||
|
|
|||||||||||
8,991,264 | ||||||||||||
Machinery — 3.3% |
||||||||||||
Albion Acquisitions Ltd., USD Term Loan, (3 mo. LIBOR + 5.25%), 6.43%, 08/17/26 |
1,138 | 1,087,122 |
116 |
2 0 2 2 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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Machinery (continued) |
||||||||||||
ASP Blade Holdings, Inc., Initial Term Loan, (1 mo. LIBOR + 4.00%), 5.67%, 10/13/28 |
USD | 248 | $ | 216,627 | ||||||||
Clark Equipment Co., 2022 Term Loan B, (SOFR + 2.50%), 4.65%, 04/20/29 |
188 | 180,263 | ||||||||||
Columbus McKinnon Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 5.06%, 05/14/28 |
249 | 237,553 | ||||||||||
Filtration Group Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 10/21/28 |
727 | 678,396 | ||||||||||
Fluidra SA, 2022 USD Term Loan B, (SOFR + 2.00%), 3.63%, 01/29/29 |
192 | 185,875 | ||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. LIBOR + 1.75%), 3.38%, 03/01/27 |
1,385 | 1,322,787 | ||||||||||
Madison IAQ LLC, Term Loan, (6 mo. LIBOR + 3.25%), 4.52%, 06/21/28 |
2,299 | 2,088,597 | ||||||||||
SPX Flow, Inc., (SOFR + 4.50%), 6.13%, 04/05/29 |
852 | 791,634 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (6 mo. LIBOR + 3.00%), 5.88%, 03/28/25 |
2,402 | 2,197,148 | ||||||||||
Zurn LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 10/04/28 |
78 | 75,827 | ||||||||||
|
|
|||||||||||
9,061,829 | ||||||||||||
Media — 12.8% |
||||||||||||
Altice Financing SA |
||||||||||||
2017 USD Term Loan B, (3 mo. LIBOR + 2.75%), 3.79%, 07/15/25 |
691 | 623,170 | ||||||||||
USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 3.79%, 01/31/26 |
955 | 860,954 | ||||||||||
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 5.41%, 08/14/26 |
2,141 | 1,951,777 | ||||||||||
AMC Entertainment Holdings, Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.00%), 4.20%, 04/22/26 |
934 | 784,509 | ||||||||||
Cable One, Inc., 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 3.67%, 05/03/28 |
303 | 290,822 | ||||||||||
Charter Communications Operating LLC, Class A, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 3.42%, 04/30/25 |
1,612 | 1,567,308 | ||||||||||
City Football Group Ltd., Term Loan, (3 mo. LIBOR + 3.50%), 4.60%, 07/21/28 (b) |
984 | 899,935 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 4.74%, 08/21/26 |
2,353 | 2,014,533 | ||||||||||
CMG Media Corp., 2021 Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 12/17/26 |
— | (i) |
133 | |||||||||
Connect Finco SARL, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.17%, 12/12/26 |
3,479 | 3,192,075 | ||||||||||
CSC Holdings LLC |
||||||||||||
2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 3.57%, 07/17/25 |
1,312 | 1,217,604 | ||||||||||
2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 3.82%, 04/15/27 |
1,105 | 1,024,525 | ||||||||||
E.W. Scripps Co., 2020 Term Loan B3, (1 mo. LIBOR + 2.75%, 0.75% Floor), 4.42%, 01/07/28 |
526 | 496,986 | ||||||||||
Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.92%, 12/01/23 (b) |
540 | 472,819 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 03/24/25 |
819 | 789,742 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 3.35%, 10/17/26 |
1,563 | 1,457,163 |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Media (continued) |
||||||||||||
MH Sub I LLC |
||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.42%, 09/13/24 |
USD | 1,898 | $ | 1,783,167 | ||||||||
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.42%, 09/13/24 |
1,796 | 1,688,024 | ||||||||||
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 7.92%, 02/23/29 |
689 | 646,321 | ||||||||||
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 4.17%, 09/18/26 |
539 | 529,682 | ||||||||||
Sinclair Television Group, Inc., 2022 Term Loan B4, (SOFR + 3.75%), 5.38%, 04/21/29 (b) |
1,124 | 1,034,080 | ||||||||||
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.63%, 09/28/23 (b) |
2,539 | 2,430,682 | ||||||||||
Trader Interactive LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 07/28/28 (b) |
347 | 331,678 | ||||||||||
UPC Financing Partnership, 2021 USD Term Loan AX, (1 mo. LIBOR + 3.00%), 4.32%, 01/31/29 |
474 | 449,201 | ||||||||||
Virgin Media Bristol LLC |
||||||||||||
2020 USD Term Loan Q, (1 mo. LIBOR + 3.25%), 4.57%, 01/31/29 |
913 | 872,728 | ||||||||||
USD Term Loan N, (1 mo. LIBOR + 2.50%), 3.82%, 01/31/28 |
609 | 569,197 | ||||||||||
Voyage Digital Ltd., (SOFR + 4.50%), 5.28%, 05/11/29 (b) |
628 | 596,600 | ||||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 4.42%, 05/18/25 |
2,003 | 1,880,198 | ||||||||||
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR + 2.12%), 3.79%, 01/20/28 |
1,309 | 1,253,266 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 03/09/27 |
3,114 | 2,861,661 | ||||||||||
|
|
|||||||||||
34,570,540 | ||||||||||||
Oil, Gas & Consumable Fuels — 2.0% |
||||||||||||
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 12/13/25 |
578 | 488,807 | ||||||||||
Lealand Finance Co. BV |
||||||||||||
2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 06/28/24 |
25 | 14,951 | ||||||||||
2020 Take Back Term Loan, (3.00% PIK), 2.83%, 06/30/25 (g) |
183 | 91,699 | ||||||||||
Lucid Energy Group II Borrower LLC, 2021 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.87%, 11/24/28 |
1,486 | 1,464,116 | ||||||||||
Medallion Midland Acquisition LLC, (1 mo. LIBOR + 3.75%, 0.75% Floor), 5.42%, 10/18/28 |
1,194 | 1,142,515 | ||||||||||
Murphy USA, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 2.82%, 01/31/28 |
396 | 393,691 | ||||||||||
Oryx Midstream Services Permian Basin LLC, Term Loan B, (3 mo. LIBOR + 3.25%), 4.71%, 10/05/28 |
1,937 | 1,838,744 | ||||||||||
|
|
|||||||||||
5,434,523 | ||||||||||||
Personal Products — 1.4% |
||||||||||||
Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (SOFR + 6.00%, 1.00% Floor), 7.65%, 12/22/26 |
253 | 247,359 |
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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Personal Products (continued) |
||||||||||||
Prestige Brands, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.00%), 5.42%, 07/03/28 |
USD | 138 | $ | 137,088 | ||||||||
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3 mo. LIBOR + 3.75%, 0.75% Floor), 6.00%, 10/01/26 |
3,758 | 3,468,977 | ||||||||||
|
|
|||||||||||
3,853,424 | ||||||||||||
Pharmaceuticals — 3.0% |
||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 5.50%, 05/04/25 |
751 | 678,049 | ||||||||||
Bausch Health Cos., Inc., 2022 Term Loan B, (SOFR + 5.25%), 6.55%, 02/01/27 |
1,344 | 1,149,002 | ||||||||||
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR + 2.00%), 3.63%, 02/22/28 |
987 | 971,072 | ||||||||||
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 2.81%, 08/01/27 |
971 | 915,253 | ||||||||||
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 3.67%, 11/15/27 |
982 | 925,412 | ||||||||||
Jazz Financing Lux SARL, USD Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 05/05/28 |
1,395 | 1,327,996 | ||||||||||
Option Care Health, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 10/27/28 |
435 | 414,150 | ||||||||||
Organon & Co., USD Term Loan, (3 mo. LIBOR + 3.00%), 4.63%, 06/02/28 |
951 | 913,659 | ||||||||||
Precision Medicine Group LLC, 2021 Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 5.25%, 11/18/27 (b) |
851 | 785,093 | ||||||||||
|
|
|||||||||||
8,079,686 | ||||||||||||
Professional Services — 1.5% |
||||||||||||
Dun & Bradstreet Corp. |
||||||||||||
2022 Incremental Term Loan B2, (SOFR + 3.25%), 4.75%, 01/18/29 |
442 | 411,512 | ||||||||||
Term Loan, (1 mo. LIBOR + 3.25%), 4.87%, 02/06/26 |
|
1,487 | 1,400,199 | |||||||||
Element Materials Technology Group U.S. Holdings, Inc. (h) |
||||||||||||
2022 USD Delayed Draw Term Loan B, 04/12/29 |
375 | 359,023 | ||||||||||
2022 USD Delayed Draw Term Loan D, 04/12/29 |
812 | 777,882 | ||||||||||
Galaxy U.S. Opco, Inc., Term Loan, (SOFR + 4.75%), 6.28%, 04/29/29 |
1,244 | 1,164,695 | ||||||||||
|
|
|||||||||||
4,113,311 | ||||||||||||
Real Estate Management & Development — 1.0% |
||||||||||||
Chamberlain Group, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 5.17%, 11/03/28 |
1,523 | 1,372,275 | ||||||||||
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 4.42%, 08/21/25 |
1,458 | 1,369,311 | ||||||||||
|
|
|||||||||||
2,741,586 | ||||||||||||
Road & Rail — 0.4% |
||||||||||||
Avis Budget Car Rental LLC, 2020 Term Loan B, (1 mo. LIBOR + 1.75%), 3.42%, 08/06/27 |
408 | 385,577 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 5.50%), 7.09%, 08/04/25 (b) |
731 | 653,087 | ||||||||||
|
|
|||||||||||
1,038,664 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.1% |
||||||||||||
Synaptics, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 4.36%, 12/02/28 |
388 | 376,771 | ||||||||||
|
|
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Software — 14.6% |
||||||||||||
Applied Systems, Inc. |
||||||||||||
2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 5.25%, 09/19/24 |
USD | 302 | $ | 288,748 | ||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.50%), 7.75%, 09/19/25 |
439 | 421,576 | ||||||||||
Barracuda Networks, Inc. |
||||||||||||
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 5.98%, 02/12/25 |
1,278 | 1,264,415 | ||||||||||
2020 2nd Lien Term Loan, 10/30/28 |
403 | 402,074 | ||||||||||
2022 Term Loan, 05/17/29 (h) |
473 | 452,306 | ||||||||||
Central Parent, Inc., 2022 USD Term Loan B, 07/06/29 (h) |
452 | 426,069 | ||||||||||
Cloudera, Inc. |
||||||||||||
2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%), 7.67%, 10/08/29 (b) |
602 | 523,740 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/08/28 |
1,847 | 1,694,962 | ||||||||||
ConnectWise LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 5.75%, 09/29/28 |
628 | 573,430 | ||||||||||
Cornerstone OnDemand, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%), 5.42%, 10/16/28 |
740 | 659,965 | ||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 05/28/24 (b) |
795 | 685,307 | ||||||||||
E2open LLC, 2020 Term Loan B, (3 mo. LIBOR + 3.50%), 4.83%, 02/04/28 |
177 | 166,431 | ||||||||||
Epicor Software Corp., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 9.42%, 07/31/28 |
1,316 | 1,273,888 | ||||||||||
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 3.75%), 5.95%, 03/11/28 |
1,315 | 1,205,803 | ||||||||||
Informatica LLC, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 4.44%, 10/27/28 |
3,175 | 3,006,101 | ||||||||||
Instructure Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.27%, 10/30/28 (b) |
452 | 428,144 | ||||||||||
IPS Corp. |
||||||||||||
2021 2nd Lien Term Loan B, (1 mo. LIBOR + 7.00%), 8.67%, 10/01/29 |
645 | 597,431 | ||||||||||
2021 Term Loan, (1 mo. LIBOR + 3.50%), 5.17%, 10/02/28 |
362 | 331,925 | ||||||||||
Magenta Buyer LLC |
||||||||||||
2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 6.23%, 07/27/28 |
1,499 | 1,343,635 | ||||||||||
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor), 9.48%, 07/27/29 |
1,359 | 1,236,214 | ||||||||||
McAfee LLC, 2022 USD Term Loan B, (SOFR + 4.00%), 5.15%, 03/01/29 |
2,154 | 1,954,755 | ||||||||||
Netsmart Technologies, Inc., 2020 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 10/01/27 |
965 | 916,891 | ||||||||||
Planview Parent, Inc. |
||||||||||||
2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.92%, 12/18/28 (b) |
572 | 543,400 | ||||||||||
Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 5.67%, 12/17/27 |
1,321 | 1,241,511 | ||||||||||
Proofpoint, Inc. |
||||||||||||
1st Lien Term Loan, (3 mo. LIBOR + 3.25%), 4.82%, 08/31/28 |
1,737 | 1,610,399 | ||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 7.82%, 08/31/29 |
895 | 854,725 | ||||||||||
RealPage, Inc. |
||||||||||||
1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.67%, 04/24/28 |
3,890 | 3,587,319 |
118 |
2 0 2 2 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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Software (continued) |
||||||||||||
RealPage, Inc. (continued) |
||||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.75% Floor), 8.17%, 04/23/29 |
USD | 1,825 | $ | 1,730,804 | ||||||||
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.92%, 05/30/25 |
418 | 394,445 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 4.62%, 08/01/25 |
1,716 | 1,644,233 | ||||||||||
Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 5.50%, 10/07/27 |
1,354 | 1,260,407 | ||||||||||
Tibco Software, Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.25%, 03/03/28 |
1,799 | 1,760,423 | ||||||||||
Ultimate Software Group, Inc. |
||||||||||||
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%), 6.21%, 05/03/27 |
865 | 795,877 | ||||||||||
2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.21%, 05/04/26 |
2,684 | 2,507,866 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.75%), 5.42%, 05/04/26 |
1,775 | 1,673,507 | ||||||||||
|
|
|||||||||||
39,458,726 | ||||||||||||
Specialty Retail — 4.9% |
||||||||||||
Belron Finance U.S. LLC |
||||||||||||
2018 Term Loan B, (3 mo. LIBOR + 2.25%), 3.69%, 11/13/25 |
269 | 259,812 | ||||||||||
2019 USD Term Loan B3, (3 mo. LIBOR + 2.25%), 3.50%, 10/30/26 (b) |
658 | 628,509 | ||||||||||
2021 USD Term Loan B, (3 mo. LIBOR + 2.50%), 3.88%, 04/13/28 |
1,710 | 1,640,035 | ||||||||||
CD&R Firefly Bidco Ltd., 2018 GBP Term Loan B1, (SONIA + 4.25%), 5.19%, 06/23/25 |
GBP | 1,000 | 1,109,265 | |||||||||
EG Group Ltd., 2021 Term Loan, 6.50%, 03/31/26 |
USD | 351 | 331,471 | |||||||||
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 4.92%, 11/24/28 |
423 | 398,382 | ||||||||||
Mavis Tire Express Services Corp., 2021 Term Loan B, (SOFR + 4.00%), 5.63%, 05/04/28 |
1,858 | 1,713,919 | ||||||||||
MED ParentCo LP, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 5.92%, 08/31/26 |
1,059 | 953,273 | ||||||||||
PetSmart, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28 |
3,261 | 3,060,689 | ||||||||||
Research Now Group, Inc., 2017 1st Lien Term Loan, (6 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 12/20/24 |
609 | 559,374 | ||||||||||
Restoration Hardware, Inc., 2022 Incremental Term Loan, (SOFR + 3.25%), 4.88%, 10/20/28 |
535 | 476,150 | ||||||||||
Reverb Buyer, Inc., 2021 First Lien Term Loan, (3 mo. LIBOR + 3.50%), 6.38%, 11/01/28 |
1,517 | 1,419,347 | ||||||||||
WOOF Holding, Inc. (b) |
||||||||||||
1st Lien Term Loan, (3 mo. LIBOR + 3.75%), 5.81%, 12/21/27 |
337 | 314,008 | ||||||||||
2nd Lien Term Loan, (3 mo. LIBOR + 7.25%), 9.31%, 12/21/28 |
345 | 331,200 | ||||||||||
|
|
|||||||||||
13,195,434 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.2% |
||||||||||||
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR + 5.00%), 6.67%, 07/23/26 |
628 | 558,007 | ||||||||||
|
|
Security |
Par (000) |
Value |
||||||||||
|
||||||||||||
Textiles, Apparel & Luxury Goods — 0.4% |
| |||||||||||
Crocs, Inc., Term Loan B, (SOFR + 3.50%), 4.45%, 02/17/29 |
USD | 1,172 | $ | 1,064,385 | ||||||||
|
|
|||||||||||
Trading Companies & Distributors — 0.9% |
||||||||||||
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 3.92%, 05/19/28 |
850 | 809,520 | ||||||||||
Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.49%, 01/31/28 (b) |
753 | 655,128 | ||||||||||
ION Trading Finance Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%), 7.00%, 04/03/28 |
418 | 384,098 | ||||||||||
SRS Distribution, Inc., 2022 Incremental Term Loan, (SOFR + 3.50%), 4.00%, 06/02/28 |
614 | 564,057 | ||||||||||
|
|
|||||||||||
2,412,803 | ||||||||||||
Wireless Telecommunication Services — 1.1% |
||||||||||||
GOGO Intermediate Holdings LLC, Term Loan B, (3 mo. LIBOR), 4.99%, 04/30/28 |
677 | 639,381 | ||||||||||
MetroNet Systems Holdings LLC, 2021 1st Lien Term Loan, (SOFR + 3.75%), 5.05%, 06/02/28 |
437 | 403,221 | ||||||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 3.42%, 04/11/25 |
2,064 | 1,985,390 | ||||||||||
|
|
|||||||||||
3,027,992 | ||||||||||||
|
|
|||||||||||
Total Floating Rate Loan Interests — 143.6% (Cost: $415,971,756) |
|
388,676,689 | ||||||||||
|
|
|||||||||||
Shares |
||||||||||||
Investment Companies |
||||||||||||
Fixed Income Funds — 0.2% |
||||||||||||
Invesco Senior Loan ETF (j)(k) |
35,400 | 717,558 | ||||||||||
|
|
|||||||||||
Total Investment Companies — 0.2% (Cost: $772,948) |
|
717,558 | ||||||||||
|
|
|||||||||||
Benefical Interest (000) |
||||||||||||
Other Interests |
||||||||||||
IT Services (b)(l) — 0.0% |
||||||||||||
Millennium Corp. |
USD | 991 | — | |||||||||
Millennium Lender Claim Trust |
930 | — | ||||||||||
|
|
|||||||||||
Total Other Interests — 0.0% (Cost: $ — ) |
|
— | ||||||||||
|
|
|||||||||||
Shares |
||||||||||||
Warrants |
||||||||||||
Metals & Mining — 0.0% |
||||||||||||
Ameriforge Group, Inc. |
2,642 | — | ||||||||||
|
|
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, 2022 |
BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets) |
Security |
Shares |
Value |
||||||
|
||||||||
Oil, Gas & Consumable Fuels — 0.0% |
||||||||
California Resources Corp. (a) |
617 | $ | 6,336 | |||||
|
|
|||||||
Total Warrants — 0.0% (Cost: $ — ) |
6,336 | |||||||
|
|
|||||||
Total Long-Term Investments — 146.2% (Cost: $425,258,791) |
395,926,245 | |||||||
|
|
|||||||
Short-Term Securities |
||||||||
Money Market Funds — 0.4% |
||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (j)(k) |
990,767 | 990,767 | ||||||
|
|
|||||||
Total Short-Term Securities — 0.4% (Cost: $990,767) |
990,767 | |||||||
|
|
|||||||
Total Investments — 146.6% (Cost: $426,249,558) |
396,917,012 | |||||||
Liabilities in Excess of Other Assets — (46.6)% |
|
(126,226,755 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 270,690,257 | ||||||
|
|
(a) |
Non-income producing security. |
(b) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(c) |
Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $621, representing less than 0.05% of its net assets as of period end, and an original cost of $131,156. |
(d) |
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. |
(e) |
Issuer filed for bankruptcy and/or is in default. |
(f) |
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. |
(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) |
Annualized 7-day yield as of period end. |
(l) |
Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
|
||||||||||||||||||||||||||||||||||||
Affiliated Issuer |
Value at 12/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 06/30/22 |
Shares Held at 06/30/22 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class |
$ | — | $ | 990,767 | (a) |
$ | — | $ | — | $ | — | $ | 990,767 | 990,767 | $ | 559 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
|
||||||||||||||||||
Currency Purchased |
Currency Sold |
Counterparty |
Settlement Date |
Unrealized Appreciation (Depreciation) |
||||||||||||||
|
||||||||||||||||||
USD 1,926,296 |
GBP 1,536,000 | Natwest Markets PLC | 09/21/22 | $ | 53,726 | |||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
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.37.V2 |
5.00 | % | Quarterly | 12/20/26 | B+ | USD | 3,465 | $ | (43,320 | ) | $ | 232,801 | $ | (276,121 | ) | |||||||||||||||||
|
|
|
|
|
|
(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. |
120 |
2 0 2 2 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, 2022 |
BlackRock Floating Rate Income Trust (BGT) |
Description |
Swap Premiums Paid |
Swap Premiums Received |
Unrealized Appreciation |
Unrealized Depreciation |
||||||||||||
Centrally Cleared Swaps (a) |
$ | 232,801 | $ | — | $ | — | $ | (276,121 | ) |
(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 |
$ | — | $ | — | $ | — | $ | 53,726 | $ | — | $ | — | $ | 53,726 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Swaps — centrally cleared |
||||||||||||||||||||||||||||
Unrealized depreciation on centrally cleared swaps (a) |
$ | — | $ | 276,121 | $ | — | $ | — | $ | — | $ | — | $ | 276,121 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 |
$ | — | $ | — | $ | — | $ | 103,033 | $ | — | $ | — | $ | 103,033 | ||||||||||||||
Swaps |
— | 53,889 | — | — | — | — | 53,889 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | 53,889 | $ | — | $ | 103,033 | $ | — | $ | — | $ | 156,922 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||||||||||||||||||||||||||
Forward foreign currency exchange contracts |
$ | — | $ | — | $ | — | $ | 102,722 | $ | — | $ | — | $ | 102,722 | ||||||||||||||
Swaps |
— | (344,860 | ) | — | — | — | — | (344,860 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | — | $ | (344,860 | ) | $ | — | $ | 102,722 | $ | — | $ | — | $ | (242,138 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forward foreign currency exchange contracts: |
||||
Average amounts purchased — in USD |
$ | 1,977,407 | ||
Credit default swaps: |
||||
Average notional value — sell protection |
$ | 3,482,500 |
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, 2022 |
BlackRock Floating Rate Income Trust (BGT) |
Assets |
Liabilities |
|||||||
Derivative Financial Instruments |
||||||||
Forward foreign currency exchange contracts |
$ | 53,726 | $ | — | ||||
Swaps — centrally cleared |
14,293 | — | ||||||
|
|
|
|
|||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities |
68,019 | — | ||||||
|
|
|
|
|||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) |
(14,293 | ) | — | |||||
|
|
|
|
|||||
Total derivative assets and liabilities subject to an MNA |
$ | 53,726 | $ | — | ||||
|
|
|
|
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) | ||||||||||||||
Natwest Markets PLC |
$ | 53,726 | $ | — | $ | — | $ | — | $ | 53,726 | ||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
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 |
||||||||||||||||
Common Stocks |
||||||||||||||||
Auto Components |
$ | 22,408 | $ | — | $ | — | $ | 22,408 | ||||||||
Construction & Engineering |
43,687 | — | — | 43,687 | ||||||||||||
Household Durables |
— | — | — | — | ||||||||||||
Metals & Mining |
— | 832 | 621 | 1,453 | ||||||||||||
Software |
90 | — | — | 90 | ||||||||||||
Specialty Retail |
— | 385,932 | — | 385,932 | ||||||||||||
Corporate Bonds |
— | 6,072,092 | — | 6,072,092 | ||||||||||||
Floating Rate Loan Interests |
— | 357,586,852 | 31,089,837 | 388,676,689 | ||||||||||||
Investment Companies |
717,558 | — | — | 717,558 | ||||||||||||
Other Interests |
— | — | — | — | ||||||||||||
Warrants |
6,336 | — | — | 6,336 | ||||||||||||
Short-Term Securities |
||||||||||||||||
Money Market Funds |
990,767 | — | — | 990,767 | ||||||||||||
Liabilities |
||||||||||||||||
Unfunded Floating Rate Loan Interests (a) |
— | (50,301 | ) | (3,801 | ) | (54,102 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 1,780,846 | $ | 363,995,407 | $ | 31,086,657 | $ | 396,862,910 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative Financial Instruments (b) |
||||||||||||||||
Assets |
||||||||||||||||
Foreign Currency Exchange Contracts |
$ | — | $ | 53,726 | $ | — | $ | 53,726 | ||||||||
Liabilities |
||||||||||||||||
Credit Contracts |
— | (276,121 | ) | — | (276,121 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | — | $ | (222,395 | ) | $ | — | $ | (222,395 | ) | |||||||
|
|
|
|
|
|
|
|
(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. |
122 |
2 0 2 2 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, 2022 |
BlackRock Floating Rate Income Trust (BGT) |
|
||||||||||||||||||||||||
Common Stocks |
Corporate Bonds |
Floating Rate Loan Interests |
Other Interests |
Unfunded Floating Rate Loan Interests |
Total |
|||||||||||||||||||
|
||||||||||||||||||||||||
Assets |
||||||||||||||||||||||||
Opening balance, as of December 31, 2021 |
$ | 486 | $ | — | $ | 17,379,496 | $ | — | $ | (182 | ) | $ | 17,379,800 | |||||||||||
Transfers into Level 3 (a) |
— | — | 21,622,048 | — | (1,028 | ) | 21,621,020 | |||||||||||||||||
Transfers out of Level 3 (b) |
— | — | (5,436,326 | ) | — | 182 | (5,436,144 | ) | ||||||||||||||||
Accrued discounts/premiums |
— | — | 123,977 | — | — | 123,977 | ||||||||||||||||||
Net realized gain (loss) |
4,209 | 4,209 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) (c)(d) |
135 | — | (2,552,886 | ) | — | (2,773 | ) | (2,555,524 | ) | |||||||||||||||
Purchases |
— | — | 4,443,726 | — | — | 4,443,726 | ||||||||||||||||||
Sales |
— | — | (4,494,407 | ) | — | — | (4,494,407 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Closing balance, as of June 30, 2022. |
$ | 621 | $ | —(e | ) | $ | 31,089,837 | $ | —(e | ) | $ | (3,801 | ) | $ | 31,086,657 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (d) |
$ | 135 | $ | — | $ | (2,476,933 | ) | $ | — | $ | (2,773 | ) | $ | (2,479,571 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
As of December 31, 2021, the Trust used observable inputs in determining the value of certain investments. As of June 30, 2022, 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. |
(b) |
As of December 31, 2021, the Trust used significant unobservable inputs in determining the value of certain investments. As of June 30, 2022, 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. |
(c) |
Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations. |
(d) |
Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 is generally due to investments no longer held or categorized as Level 3 at period end. |
(e) |
Rounds to less than $1. |
S C H E D U L E O F I N V E S T M E N T S |
123 |
BHK | HYT (a) |
BTZ | BGT | |||||||||||||
|
||||||||||||||||
ASSETS |
||||||||||||||||
Investments, at value — unaffiliated (b) |
$ | 1,070,825,641 | $ | 1,600,914,960 | $ | 1,585,152,759 | $ | 395,926,245 | ||||||||
Investments, at value — affiliated (c) |
18,146,817 | 2,647,274 | 3,126,037 | 990,767 | ||||||||||||
Cash |
1,231,811 | 848,709 | — | 881,276 | ||||||||||||
Cash pledged: |
||||||||||||||||
Collateral — reverse repurchase agreements |
9,548,039 | — | 20,758,457 | — | ||||||||||||
Collateral — OTC derivatives |
4,459,000 | 2,680,000 | — | — | ||||||||||||
Futures contracts |
1,298,970 | 573,000 | 1,671,000 | — | ||||||||||||
Centrally cleared swaps |
2,833,000 | — | 6,264,000 | 329,000 | ||||||||||||
Foreign currency, at value (d) |
25,778 | 99,149 | — | 18,978 | ||||||||||||
Receivables: |
||||||||||||||||
Investments sold |
2,269,879 | 37,609,776 | 6,105,164 | 4,487,907 | ||||||||||||
Options written |
— | — | 2,593,250 | — | ||||||||||||
Reverse repurchase agreements |
— | — | 124,430 | — | ||||||||||||
Swaps |
5,298 | 31,789 | — | — | ||||||||||||
TBA sale commitments |
24,956,602 | — | — | — | ||||||||||||
Dividends — unaffiliated |
24,339 | 7,006 | — | — | ||||||||||||
Dividends — affiliated |
16,683 | 1,164 | 12,399 | 338 | ||||||||||||
Interest — unaffiliated |
10,524,548 | 24,466,799 | 22,726,020 | 2,488,790 | ||||||||||||
Principal paydowns |
320,203 | — | — | — | ||||||||||||
Variation margin on futures contracts |
992,585 | — | 2,251,913 | — | ||||||||||||
Variation margin on centrally cleared swaps |
— | — | — | 14,293 | ||||||||||||
Swap premiums paid |
10,998 | 60,999 | — | — | ||||||||||||
Unrealized appreciation on: |
||||||||||||||||
Forward foreign currency exchange contracts |
187,533 | 780,331 | — | 53,726 | ||||||||||||
OTC swaps |
319 | 1,975 | — | — | ||||||||||||
Deferred offering costs |
127,821 | 163,261 | — | — | ||||||||||||
Prepaid expenses |
8,593 | 16,928 | — | 6,861 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets |
1,147,814,457 | 1,670,903,120 | 1,650,785,429 | 405,198,181 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
LIABILITIES |
||||||||||||||||
Bank overdraft |
— | — | 106,960 | — | ||||||||||||
Cash received as collateral for OTC derivatives |
— | — | 410,000 | — | ||||||||||||
Options written, at value (e) |
— | — | 2,698,232 | — | ||||||||||||
TBA sale commitments, at value (f) |
25,144,893 | — | — | — | ||||||||||||
Reverse repurchase agreements, at value |
421,979,136 | — | 547,698,452 | — | ||||||||||||
Payables: |
||||||||||||||||
Investments purchased |
52,201,375 | 13,962,199 | 7,996,243 | 6,585,465 | ||||||||||||
Reverse repurchase agreements |
— | — | 124,430 | — | ||||||||||||
Accounting services fees |
103,240 | 144,705 | 160,850 | 43,230 | ||||||||||||
Bank borrowings |
— | 494,000,000 | — | 127,000,000 | ||||||||||||
Custodian fees |
77,294 | 44,293 | 34,325 | 23,378 | ||||||||||||
Income dividend distributions |
73,471 | — | 377,222 | 25,957 | ||||||||||||
Interest expense |
— | 896,510 | — | 230,519 | ||||||||||||
Investment advisory fees |
444,008 | 843,433 | 850,252 | 251,907 | ||||||||||||
Trustees’ and Officer’s fees |
200,606 | 572,424 | 745,160 | 204,269 | ||||||||||||
Other accrued expenses |
59,985 | 244,759 | 138,850 | 18,083 | ||||||||||||
Professional fees |
87,658 | 130,870 | 91,758 | 54,713 | ||||||||||||
Transfer agent fees |
36,632 | 58,408 | 111,934 | 16,301 | ||||||||||||
Variation margin on futures contracts |
1,082,239 | 213,568 | 1,917,252 | — | ||||||||||||
Variation margin on centrally cleared swaps |
824,758 | — | 85,129 | — | ||||||||||||
Swap premiums received |
2,963,817 | 184,427 | — | — | ||||||||||||
Unrealized depreciation on: |
||||||||||||||||
Forward foreign currency exchange contracts |
1,551 | 186 | — | — | ||||||||||||
OTC swaps |
1,831,922 | 3,461,234 | — | — | ||||||||||||
Unfunded floating rate loan interests |
17,250 | 114,763 | 11,533 | 54,102 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities |
507,129,835 | 514,871,779 | 563,558,582 | 134,507,924 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
NET ASSETS |
$ | 640,684,622 | $ | 1,156,031,341 | $ | 1,087,226,847 | $ | 270,690,257 | ||||||||
|
|
|
|
|
|
|
|
124 |
2 0 2 2 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 (g)(h)(i) |
$ | 755,549,804 | $ | 1,551,509,936 | $ | 1,253,197,058 | $ | 328,730,953 | ||||||||
Accumulated loss |
(114,865,182 | ) | (395,478,595 | ) | (165,970,211 | ) | (58,040,696 | ) | ||||||||
NET ASSETS |
$ | 640,684,622 | $ | 1,156,031,341 | $ | 1,087,226,847 | $ | 270,690,257 | ||||||||
Net asset value (g)(h)(i) |
$ | 11.86 | $ | 9.45 | $ | 11.63 | $ | 12.10 | ||||||||
(a) Consolidated Statement of Assets and Liabilities. |
||||||||||||||||
(b) Investments, at cost — unaffiliated |
$ | 1,167,482,395 | $ | 1,850,075,851 | $ | 1,716,881,332 | $ | 425,258,791 | ||||||||
(c) Investments, at cost — affiliated |
$ | 18,146,817 | $ | 2,647,274 | $ | 3,126,037 | $ | 990,767 | ||||||||
(d) Foreign currency, at cost |
$ | 25,727 | $ | 101,869 | $ | — | $ | 19,851 | ||||||||
(e) Premiums received |
$ | — | $ | — | $ | 2,702,036 | $ | — | ||||||||
(f) Proceeds from TBA sale commitments. |
$ | 24,956,602 | $ | — | $ | — | $ | — | ||||||||
(g) Shares outstanding |
54,010,702 | 122,317,200 | 93,507,103 | |||||||||||||
(h) Shares authorized |
Unlimited |
200 million | Unlimited |
Unlimited |
||||||||||||
(i) 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 |
125 |
BHK | HYT (a) |
BTZ | BGT | |||||||||||||
INVESTMENT INCOME |
||||||||||||||||
Dividends — unaffiliated |
$ | 136,534 | $ | 941,632 | $ | 1,072,869 | $ | 12,664 | ||||||||
Dividends — affiliated |
28,783 | 101,936 | 23,618 | 559 | ||||||||||||
Interest — unaffiliated |
22,742,199 | 52,571,290 | 44,401,446 | 9,862,479 | ||||||||||||
Other income — unaffiliated |
— | 137,414 | 196,991 | 96,610 | ||||||||||||
Total investment income |
22,907,516 | 53,752,272 | 45,694,924 | 9,972,312 | ||||||||||||
EXPENSES |
||||||||||||||||
Investment advisory |
2,936,078 | 5,717,569 | 5,476,962 | 1,589,325 | ||||||||||||
Accounting services |
75,188 | 106,910 | 78,957 | 32,010 | ||||||||||||
Custodian |
64,145 | 42,530 | 27,114 | 19,970 | ||||||||||||
Transfer agent |
44,158 | 68,452 | 4,043 | 21,863 | ||||||||||||
Registration |
8,689 | 12,110 | 13,294 | 3,929 | ||||||||||||
Commitment costs |
— | 108,821 | — | 25,604 | ||||||||||||
Miscellaneous |
84,794 | 267,508 | 25,898 | 33,455 | ||||||||||||
Total expenses excluding interest expense |
3,213,052 | 6,323,900 | 5,626,268 | 1,726,156 | ||||||||||||
Interest expense |
871,568 | 3,593,861 | 1,398,146 | 836,074 | ||||||||||||
Total expenses |
4,084,620 | 9,917,761 | 7,024,414 | 2,562,230 | ||||||||||||
Less: |
||||||||||||||||
Fees waived and/or reimbursed by the Manager |
(3,231 | ) | (16,112 | ) | (3,305 | ) | (79 | ) | ||||||||
Total expenses after fees waived and/or reimbursed |
4,081,389 | 9,901,649 | 7,021,109 | 2,562,151 | ||||||||||||
Net investment income |
18,826,127 | 43,850,623 | 38,673,815 | 7,410,161 | ||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||
Investments — unaffiliated |
(15,380,004 | ) | (10,010,831 | ) | (11,888,224 | ) | (1,936,367 | ) | ||||||||
Investments — affiliated |
— | (738,522 | ) | — | — | |||||||||||
Forward foreign currency exchange contracts |
561,113 | 2,932,157 | — | 103,033 | ||||||||||||
Foreign currency transactions |
(76,113 | ) | 36,054 | — | 3,564 | |||||||||||
Futures contracts |
(5,093,903 | ) | 3,289,397 | 16,791,908 | — | |||||||||||
Options written |
(4,116,630 | ) | (23,707 | ) | 576,973 | — | ||||||||||
Swaps |
5,446,533 | (1,348,937 | ) | 976,762 | 53,889 | |||||||||||
(18,659,004 | ) | (5,864,389 | ) | 6,457,419 | (1,775,881 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
Investments — unaffiliated |
(172,635,502 | ) | (297,311,116 | ) | (315,260,461 | ) | (28,155,798 | ) | ||||||||
Investments — affiliated |
— | (576,952 | ) | — | — | |||||||||||
Forward foreign currency exchange contracts |
338,746 | 1,218,978 | — | 102,722 | ||||||||||||
Foreign currency translations |
2,307 | (37,854 | ) | — | (164 | ) | ||||||||||
Futures contracts |
(3,573,400 | ) | 229,035 | (11,081,811 | ) | — | ||||||||||
Options written |
(88,306 | ) | (7,688 | ) | 3,804 | — | ||||||||||
Swaps |
1,055,745 | (3,962,228 | ) | (4,474,719 | ) | (344,860 | ) | |||||||||
Unfunded floating rate loan interests |
(17,327 | ) | (123,645 | ) | (11,533 | ) | (53,390 | ) | ||||||||
(174,917,737 | ) | (300,571,470 | ) | (330,824,720 | ) | (28,451,490 | ) | |||||||||
Net realized and unrealized loss |
(193,576,741 | ) | (306,435,859 | ) | (324,367,301 | ) | (30,227,371 | ) | ||||||||
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | (174,750,614 | ) | $ | (262,585,236 | ) | $ | (285,693,486 | ) | $ | (22,817,210 | ) | ||||
(a) |
Consolidated Statement of Operations. |
126 |
2 0 2 2 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) |
|||||||||||||||
Six Months Ended 06/30/22 (unaudited) |
Year Ended 12/31/21 |
Six Months Ended 06/30/22 (unaudited) |
Year Ended 12/31/21 |
|||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||
OPERATIONS |
||||||||||||||||
Net investment income |
$ | 18,826,127 | $ | 38,808,459 | $ | 43,850,623 | $ | 93,004,873 | ||||||||
Net realized gain (loss) |
(18,659,004 | ) | 18,970,678 | (5,864,389 | ) | 67,211,285 | ||||||||||
Net change in unrealized appreciation (depreciation) |
(174,917,737 | ) | (53,684,376 | ) | (300,571,470 | ) | (41,679,483 | ) | ||||||||
Net increase (decrease) in net assets resulting from operations |
(174,750,614 | ) | 4,094,761 | (262,585,236 | ) | 118,536,675 | ||||||||||
DISTRIBUTIONS TO SHAREHOLDERS (b) |
||||||||||||||||
From net investment income and net realized gain |
(20,146,009 | ) (c) |
(56,675,846 | ) | (47,620,136 | ) (c) |
(98,245,910 | ) | ||||||||
Return of capital |
— | — | — | (15,806,301 | ) | |||||||||||
Decrease in net assets resulting from distributions to shareholders |
(20,146,009 | ) | (56,675,846 | ) | (47,620,136 | ) | (114,052,211 | ) | ||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
Reinvestment of distributions |
267,474 | 925,044 | 1,065,866 | 3,779,473 | ||||||||||||
NET ASSETS |
||||||||||||||||
Total increase (decrease) in net assets |
(194,629,149 | ) | (51,656,041 | ) | (309,139,506 | ) | 8,263,937 | |||||||||
Beginning of period |
835,313,771 | 886,969,812 | 1,465,170,847 | 1,456,906,910 | ||||||||||||
End of period |
$ | 640,684,622 | $ | 835,313,771 | $ | 1,156,031,341 | $ | 1,465,170,847 | ||||||||
(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 |
127 |
BTZ | BGT | |||||||||||||||
Six Months Ended 06/30/22 (unaudited) |
Year Ended 12/31/21 |
Six Months Ended 06/30/22 (unaudited) |
Year Ended 12/31/21 |
|||||||||||||
|
||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||
OPERATIONS |
||||||||||||||||
Net investment income |
$ | 38,673,815 | $ | 79,256,091 | $ | 7,410,161 | $ | 14,622,796 | ||||||||
Net realized gain (loss) |
6,457,419 | 21,968,234 | (1,775,881 | ) | 4,145,350 | |||||||||||
Net change in unrealized appreciation (depreciation) |
(330,824,720 | ) | (63,539,672 | ) | (28,451,490 | ) | (507,334 | ) | ||||||||
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|
|
|
|
|
|
|
|||||||||
Net increase (decrease) in net assets resulting from operations |
(285,693,486 | ) | 37,684,653 | (22,817,210 | ) | 18,260,812 | ||||||||||
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DISTRIBUTIONS TO SHAREHOLDERS (a) |
||||||||||||||||
From net investment income |
(39,226,232 | ) (b) |
(80,320,881 | ) | (7,236,924 | ) (b) |
(14,667,710 | ) | ||||||||
Return of capital |
— | (13,796,133 | ) | — | (2,693,947 | ) | ||||||||||
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|||||||||
Decrease in net assets resulting from distributions to shareholders |
(39,226,232 | ) | (94,117,014 | ) | (7,236,924 | ) | (17,361,657 | ) | ||||||||
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CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
Reinvestment of distributions |
— | 425,778 | 32,244 | 106,634 | ||||||||||||
Redemption of shares resulting from share repurchase program (including transaction costs) |
— | — | — | (419,729 | ) | |||||||||||
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|||||||||
Net increase (decrease) in net assets derived from capital share transactions |
— | 425,778 | 32,244 | (313,095 | ) | |||||||||||
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|||||||||
NET ASSETS |
||||||||||||||||
Total increase (decrease) in net assets |
(324,919,718 | ) | (56,006,583 | ) | (30,021,890 | ) | 586,060 | |||||||||
Beginning of period |
1,412,146,565 | 1,468,153,148 | 300,712,147 | 300,126,087 | ||||||||||||
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End of period |
$ | 1,087,226,847 | $ | 1,412,146,565 | $ | 270,690,257 | $ | 300,712,147 | ||||||||
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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. |
128 |
2 0 2 2 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 decrease in net assets resulting from operations |
$ | (174,750,614 | ) | $ | (262,585,236 | ) | $ | (285,693,486 | ) | $ | (22,817,210 | ) | ||||
Adjustments to reconcile net decrease in net assets resulting from operations to net cash provided by operating activities: |
||||||||||||||||
Proceeds from sales of long-term investments and principal paydowns/payups |
631,278,466 | 467,013,987 | 301,032,750 | 75,431,162 | ||||||||||||
Purchases of long-term investments |
(624,227,324 | ) | (304,517,751 | ) | (251,533,691 | ) | (55,791,610 | ) | ||||||||
Net proceeds from sales (purchases) of short-term securities |
7,888,692 | (2,241,674 | ) | 19,091,683 | (990,767 | ) | ||||||||||
Amortization of premium and accretion of discount on investments and other fees |
616,115 | 813,391 | 1,109,042 | (311,447 | ) | |||||||||||
Paid-in-kind income |
— | — | — | (106,894 | ) | |||||||||||
Premiums paid on closing options written |
(12,484,922 | ) | (391,480 | ) | (412,482 | ) | — | |||||||||
Premiums received from options written |
2,110,156 | 355,566 | 1,098,240 | — | ||||||||||||
Net realized loss on investments and options written |
18,734,193 | 10,797,046 | 11,311,251 | 1,936,367 | ||||||||||||
Net unrealized depreciation on investments, options written, swaps, foreign currency translations and unfunded floating rate loan interests |
174,088,542 | 300,762,651 | 315,268,190 | 28,106,466 | ||||||||||||
(Increase) Decrease in Assets |
||||||||||||||||
Receivables |
||||||||||||||||
Dividends — affiliated |
(16,567 | ) | (1,160 | ) | (12,336 | ) | (336 | ) | ||||||||
Dividends — unaffiliated |
— | 101,452 | — | — | ||||||||||||
Interest — unaffiliated |
61,700 | 1,949,759 | 1,054,085 | (1,196,568 | ) | |||||||||||
Swaps |
(5,298 | ) | (31,789 | ) | — | — | ||||||||||
Variation margin on futures contracts |
(814,076 | ) | 234 | (2,162,280 | ) | — | ||||||||||
Variation margin on centrally cleared swaps |
— | — | — | (7,947 | ) | |||||||||||
Swap premiums paid |
(6,589 | ) | (21,729 | ) | — | — | ||||||||||
Prepaid expenses |
(2,433 | ) | (16,928 | ) | 7,123 | (4,743 | ) | |||||||||
Deferred offering costs |
(127,821 | ) | (163,261 | ) | — | — | ||||||||||
Increase (Decrease) in Liabilities |
||||||||||||||||
Cash received |
||||||||||||||||
Collateral — reverse repurchase agreements |
(270,000 | ) | — | — | — | |||||||||||
Collateral — OTC derivatives |
(480,000 | ) | (430,000 | ) | 410,000 | — | ||||||||||
Payables |
||||||||||||||||
Accounting services fees |
49,345 | 70,190 | 88,673 | 21,139 | ||||||||||||
Custodian fees |
48,411 | 20,687 | 19,586 | 14,000 | ||||||||||||
Interest expense |
361,258 | 373,070 | 105,401 | 110,611 | ||||||||||||
Investment advisory fees |
(89,050 | ) | (226,835 | ) | (198,775 | ) | (29,432 | ) | ||||||||
Trustees’ and Officer’s fees |
(129,487 | ) | (261,113 | ) | (340,615 | ) | (99,789 | ) | ||||||||
Other accrued expenses |
13,099 | (32,180 | ) | 24,925 | (4,075 | ) | ||||||||||
Professional fees |
(46,631 | ) | (94,239 | ) | (28,799 | ) | (37,641 | ) | ||||||||
Transfer agent fees |
21,068 | 34,614 | (69,803 | ) | 10,718 | |||||||||||
Variation margin on futures contracts |
1,032,886 | 213,045 | 1,912,508 | — | ||||||||||||
Variation margin on centrally cleared swaps |
245,572 | — | 85,129 | — | ||||||||||||
Swap premiums received |
(45,881 | ) | 38,583 | — | — | |||||||||||
|
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|||||||||
Net cash provided by operating activities |
23,052,810 | 211,528,900 | 112,166,319 | 24,232,004 | ||||||||||||
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|||||||||
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES |
||||||||||||||||
Cash dividends paid to shareholders |
(32,201,866 | ) | (56,074,876 | ) | (46,694,256 | ) | (8,625,950 | ) | ||||||||
Payments for bank borrowings |
— | (370,000,000 | ) | — | — | |||||||||||
Proceeds from bank borrowings |
— | 217,000,000 | — | 46,000,000 | ||||||||||||
Increase (decrease) in bank overdraft |
— | — | 106,960 | (30,118 | ) | |||||||||||
Amortization of deferred offering costs |
— | — | — | (62,000,000 | ) | |||||||||||
Net borrowing of reverse repurchase agreements |
16,095,909 | — | (39,423,566 | ) | — | |||||||||||
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|
|||||||||
Net cash used for financing activities |
(16,105,957 | ) | (209,074,876 | ) | (86,010,862 | ) | (24,656,068 | ) | ||||||||
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|||||||||
CASH IMPACT FROM FOREIGN EXCHANGE FLUCTUATIONS |
||||||||||||||||
Cash impact from foreign exchange fluctuations |
5,351 | (4,349 | ) | — | (164 | ) | ||||||||||
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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 | |||||||||||||
|
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CASH AND FOREIGN CURRENCY |
||||||||||||||||
Net increase (decrease) in restricted and unrestricted cash and foreign currency |
$ | 6,952,204 | $ | 2,449,675 | $ | 26,155,457 | $ | (424,228 | ) | |||||||
Restricted and unrestricted cash and foreign currency at beginning of period |
12,444,394 | 1,751,183 | 2,538,000 | 1,653,482 | ||||||||||||
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Restricted and unrestricted cash and foreign currency at end of period |
$ | 19,396,598 | $ | 4,200,858 | $ | 28,693,457 | $ | 1,229,254 | ||||||||
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|||||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION |
||||||||||||||||
Cash paid during the period for interest expense |
$ | 510,310 | $ | 3,220,791 | $ | 1,292,745 | $ | 725,463 | ||||||||
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NON-CASH FINANCING ACTIVITIES |
||||||||||||||||
Reinvestment of distributions |
$ | 267,474 | $ | 1,065,866 | $ | — | $ | 32,244 | ||||||||
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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 |
$ | 1,231,811 | $ | 848,709 | $ | — | $ | 881,276 | ||||||||
Cash pledged |
||||||||||||||||
Collateral — reverse repurchase agreements |
9,548,039 | — | 20,758,457 | — | ||||||||||||
Collateral — OTC derivatives |
4,459,000 | 2,680,000 | — | — | ||||||||||||
Futures contracts |
1,298,970 | 573,000 | 1,671,000 | — | ||||||||||||
Centrally cleared swaps |
2,833,000 | — | 6,264,000 | 329,000 | ||||||||||||
Foreign currency at value |
25,778 | 99,149 | — | 18,978 | ||||||||||||
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|||||||||
$ | 19,396,598 | $ | 4,200,858 | $ | 28,693,457 | $ | 1,229,254 | |||||||||
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(a) |
Consolidated Statement of Cash Flows. |
130 |
2 0 2 2 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 06/30/22 (unaudited) |
Year Ended December 31, | Period from 09/01/19 to 12/31/19 |
Year Ended August 31, | |||||||||||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 15.47 | $ | 16.45 | $ | 15.32 | $ | 15.79 | $ | 14.08 | $ | 14.96 | $ | 15.25 | ||||||||||||||||||||
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Net investment income (a) |
0.35 | 0.72 | 0.72 | 0.22 | 0.66 | 0.72 | 0.76 | |||||||||||||||||||||||||||
Net realized and unrealized gain (loss) |
(3.59 | ) | (0.65 | ) | 1.24 | (0.36 | ) | 1.82 | (0.82 | ) | (0.27 | ) | ||||||||||||||||||||||
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Net increase (decrease) from investment operations |
(3.24 | ) | 0.07 | 1.96 | (0.14 | ) | 2.48 | (0.10 | ) | 0.49 | ||||||||||||||||||||||||
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Distributions (b) |
||||||||||||||||||||||||||||||||||
From net investment income |
(0.37 | ) (c) |
(0.80 | ) | (0.64 | ) | (0.27 | ) | (0.73 | ) | (0.78 | ) | (0.78 | ) | ||||||||||||||||||||
From net realized gain |
— | (0.25 | ) | (0.19 | ) | (0.04 | ) | (0.04 | ) | — | — | |||||||||||||||||||||||
Return of capital |
|
— |
|
— | — | (0.02 | ) | — | — | — | ||||||||||||||||||||||||
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Total distributions |
(0.37 | ) | (1.05 | ) | (0.83 | ) | (0.33 | ) | (0.77 | ) | (0.78 | ) | (0.78 | ) | ||||||||||||||||||||
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Net asset value, end of period |
$ | 11.86 | $ | 15.47 | $ | 16.45 | $ | 15.32 | $ | 15.79 | $ | 14.08 | $ | 14.96 | ||||||||||||||||||||
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Market price, end of period |
$ | 11.32 | $ | 16.51 | $ | 16.30 | $ | 14.58 | $ | 14.56 | $ | 12.85 | $ | 14.10 | ||||||||||||||||||||
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Total Return (d) |
||||||||||||||||||||||||||||||||||
Based on net asset value |
(20.99 | )% (e) |
0.50 | % (f) |
13.24 | % | (0.75 | )% (e) |
18.86 | % | (0.24 | )% | 3.88 | % | ||||||||||||||||||||
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Based on market price |
(29.34 | )% (e) |
8.25 | % | 17.90 | % | 2.43 | % (e) |
20.09 | % | (3.40 | )% | 4.20 | % | ||||||||||||||||||||
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Ratios to Average Net Assets (g) |
||||||||||||||||||||||||||||||||||
Total expenses |
1.12 | % (h) |
0.85 | % | 0.91 | % | 1.42 | % (h)(i) |
1.72 | % | 1.60 | % | 1.16 | % | ||||||||||||||||||||
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Total expenses after fees waived and/or reimbursed |
1.12 | % (h) |
0.85 | % | 0.90 | % | 1.42 | % (h) |
1.72 | % | 1.60 | % | 1.16 | % | ||||||||||||||||||||
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Total expenses after fees waived and/or reimbursed and excluding interest expense |
0.88 | % (h) |
0.81 | % | 0.75 | % | 0.79 | % (h) |
0.77 | % | 0.82 | % | 0.78 | % | ||||||||||||||||||||
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Net investment income |
5.18 | % (h) |
4.50 | % | 4.52 | % | 4.15 | % (h) |
4.63 | % | 4.99 | % | 5.19 | % | ||||||||||||||||||||
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Supplemental Data |
||||||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 640,685 | $ | 835,314 | $ | 886,970 | $ | 826,349 | $ | 851,650 | $ | 759,385 | $ | 806,848 | ||||||||||||||||||||
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Borrowings outstanding, end of period (000) |
$ | 421,979 | $ | 405,522 | $ | 296,921 | $ | 271,749 | $ | 273,621 | $ | 316,216 | $ | 289,078 | ||||||||||||||||||||
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Portfolio turnover rate (j) |
48 | % | 54 | % | 69 | % | 21 | % | 27 | % | 28 | % | 32 | % | ||||||||||||||||||||
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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) Aggregate total return.(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 and total expenses after fees waived and/or reimbursed would have been 1.45%.(j) Includes mortgage dollar roll transactions (“MDRs”). Additional information regarding portfolio turnover rate is as follows: |
| |||||||||||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) |
Year Ended December 31, | Period from 09/01/19 to 12/31/19 |
Year Ended August 31, | |||||||||||||||||||||||||||||||
2021 |
2020 |
2019 |
2018 |
2017 |
||||||||||||||||||||||||||||||
|
Portfolio turnover rate (excluding MDRs) |
37 | % | 34 | % | 55 | % | 11 | % | 27 | % | 28 | % | 32 | % | |||||||||||||||||||
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F I N A N C I A L H I G H L I G H T S |
131 |
HYT (a) |
||||||||||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) |
Year Ended December 31, | Period from 09/01/19 to 12/31/19 |
Year Ended August 31, | |||||||||||||||||||||||||||||
2021 |
2020 |
2019 |
2018 |
2017 |
||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 11.99 | $ | 11.95 | $ | 11.91 | $ | 11.82 | $ | 11.90 | $ | 12.22 | $ | 11.79 | ||||||||||||||||||
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Net investment income (b) |
0.36 | 0.76 | 0.79 | 0.25 | 0.79 | 0.83 | 0.85 | |||||||||||||||||||||||||
Net realized and unrealized gain (loss) |
(2.51 | ) | 0.21 | 0.18 | 0.22 | (0.01 | ) | (0.31 | ) | 0.47 | ||||||||||||||||||||||
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Net increase (decrease) from investment operations |
(2.15 | ) | 0.97 | 0.97 | 0.47 | 0.78 | 0.52 | 1.32 | ||||||||||||||||||||||||
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Distributions (c) |
||||||||||||||||||||||||||||||||
From net investment income |
(0.39 | ) (d) |
(0.80 | ) | (0.82 | ) | (0.35 | ) | (0.86 | ) | (0.84 | ) | (0.89 | ) | ||||||||||||||||||
Return of capital |
— | (0.13 | ) | (0.11 | ) | (0.03 | ) | — | — | — | ||||||||||||||||||||||
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|
|||||||||||||||||||
Total distributions |
(0.39 | ) | (0.93 | ) | (0.93 | ) | (0.38 | ) | (0.86 | ) | (0.84 | ) | (0.89 | ) | ||||||||||||||||||
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Net asset value, end of period |
$ | 9.45 | $ | 11.99 | $ | 11.95 | $ | 11.91 | $ | 11.82 | $ | 11.90 | $ | 12.22 | ||||||||||||||||||
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Market price, end of period |
$ | 9.53 | $ | 12.34 | $ | 11.43 | $ | 11.20 | $ | 10.51 | $ | 10.70 | $ | 11.13 | ||||||||||||||||||
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Total Return (e) |
||||||||||||||||||||||||||||||||
Based on net asset value |
(18.17 | )% (f) |
8.42 | % | 9.57 | % | 4.28 | % (f) |
8.06 | % | 5.25 | % | 12.41 | % (g) | ||||||||||||||||||
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Based on market price |
(19.82 | )% (f) |
16.66 | % | 11.45 | % | 10.28 | % (f) |
6.86 | % | 3.91 | % | 10.94 | % | ||||||||||||||||||
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|||||||||||||||||||
Ratios to Average Net Assets (h) |
||||||||||||||||||||||||||||||||
Total expenses |
1.50 | % (i) |
1.35 | % | 1.50 | % | 1.92 | % (i)(j) |
2.19 | % | 1.99 | % | 1.54 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed |
1.50 | % (i) |
1.34 | % | 1.49 | % | 1.92 | % (i) |
2.19 | % | 1.99 | % | 1.54 | % | ||||||||||||||||||
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Total expenses after fees waived and/or reimbursed and excluding interest expense |
0.95 | % (i) |
0.93 | % | 0.94 | % | 0.93 | % (i) |
0.92 | % | 0.94 | % | 0.91 | % | ||||||||||||||||||
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Net investment income |
6.64 | % (i) |
6.30 | % | 7.06 | % | 6.39 | % (i) |
6.87 | % | 6.88 | % | 7.04 | % | ||||||||||||||||||
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Supplemental Data |
||||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 1,156,031 | $ | 1,465,171 | $ | 1,456,907 | $ | 1,451,868 | $ | 1,440,436 | $ | 1,482,422 | $ | 1,545,622 | ||||||||||||||||||
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Borrowings outstanding, end of period (000) |
$ | 494,000 | $ | 647,000 | $ | 685,000 | $ | 607,000 | $ | 486,000 | $ | 647,000 | $ | 649,000 | ||||||||||||||||||
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Asset coverage, end of period per $1,000 of bank borrowings |
$ | 3,340 | $ | 3,265 | $ | 3,127 | $ | 3,392 | $ | 3,965 | $ | 3,292 | $ | 3,382 | ||||||||||||||||||
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|||||||||||||||||||
Portfolio turnover rate |
16 | % | 54 | % | 82 | % | 20 | % | 64 | % | 65 | % | 75 | % | ||||||||||||||||||
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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) |
Aggregate total return. |
(g) |
Includes proceeds received from a settlement of litigation, which had no impact on the Trust’s total return. |
(h) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(i) |
Annualized. |
(j) |
Audit costs were not annualized in the calculation of the expense ratios. If these expenses were annualized, the total expenses and total expenses after fees waived and/or reimbursed would have been 1.95%. |
132 |
2 0 2 2 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 06/30/22 (unaudited) |
Year Ended December 31, | Period from 11/01/19 to 12/31/19 |
Year Ended October 31, | |||||||||||||||||||||||||||
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
2018 |
|
|
2017 |
| ||||||||||||||||
Net asset value, beginning of period |
$ | 15.10 | $ | 15.71 | $ | 14.97 | $ | 14.94 | $ | 13.72 | $ | 14.88 | $ | 14.61 | ||||||||||||||||
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|
|||||||||||||||||
Net investment income (a) |
0.41 | 0.85 | 0.84 | 0.13 | 0.79 | 0.81 | 0.81 | |||||||||||||||||||||||
Net realized and unrealized gain (loss) |
(3.46 | ) | (0.45 | ) | 0.91 | 0.15 | 1.25 | (1.17 | ) | 0.30 | ||||||||||||||||||||
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Net increase (decrease) from investment operations |
(3.05 | ) | 0.40 | 1.75 | 0.28 | 2.04 | (0.36 | ) | 1.11 | |||||||||||||||||||||
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Distributions (b) |
||||||||||||||||||||||||||||||
From net investment income |
(0.42 | ) (c) |
(0.86 | ) | (0.85 | ) | (0.23 | ) | (0.79 | ) | (0.80 | ) | (0.79 | ) | ||||||||||||||||
Return of capital |
— | (0.15 | ) | (0.16 | ) | (0.02 | ) | (0.03 | ) | — | (0.05 | ) | ||||||||||||||||||
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Total distributions |
(0.42 | ) | (1.01 | ) | (1.01 | ) | (0.25 | ) | (0.82 | ) | (0.80 | ) | (0.84 | ) | ||||||||||||||||
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Net asset value, end of period |
$ | 11.63 | $ | 15.10 | $ | 15.71 | $ | 14.97 | $ | 14.94 | $ | 13.72 | $ | 14.88 | ||||||||||||||||
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Market price, end of period |
$ | 10.89 | $ | 15.05 | $ | 14.71 | $ | 13.98 | $ | 13.55 | $ | 11.72 | $ | 13.36 | ||||||||||||||||
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Total Return (d) |
||||||||||||||||||||||||||||||
Based on net asset value |
(20.22 | )% (e) |
2.73 | % | 12.78 | % | 2.02 | % (e) |
16.17 | % | (1.72 | )% | 8.53 | % | ||||||||||||||||
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Based on market price |
(25.05 | )% (e) |
9.36 | % | 13.07 | % | 5.05 | % (e) |
23.34 | % | (6.49 | )% | 10.62 | % | ||||||||||||||||
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Ratios to Average Net Assets (f) |
||||||||||||||||||||||||||||||
Total expenses |
1.13 | % (g) |
1.12 | % | 1.35 | % | 1.68 | % (g)(h) |
2.26 | % | 1.82 | % | 1.23 | % | ||||||||||||||||
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Total expenses after fees waived and/or reimbursed |
1.13 | % (g) |
1.12 | % | 1.35 | % | 1.68 | % (g) |
2.25 | % | 1.82 | % | 1.23 | % | ||||||||||||||||
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Total expenses after fees waived and/or reimbursed and excluding interest expense |
0.91 | % (g) |
0.94 | % | 0.94 | % | 0.92 | % (g) |
1.08 | % | 0.94 | % | 0.87 | % | ||||||||||||||||
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Net investment income |
6.23 | % (g) |
5.49 | % | 5.69 | % | 5.29 | % (g) |
5.57 | % | 5.69 | % | 5.53 | % | ||||||||||||||||
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|||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 1,087,227 | $ | 1,412,147 | $ | 1,468,153 | $ | 1,554,828 | $ | 1,551,243 | $ | 1,439,954 | $ | 1,598,034 | ||||||||||||||||
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|
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Borrowings outstanding, end of period (000) |
$ | 547,698 | $ | 587,017 | $ | 614,172 | $ | 577,231 | $ | 568,461 | $ | 707,102 | $ | 477,822 | ||||||||||||||||
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|
|||||||||||||||||
Portfolio turnover rate |
14 | % | 20 | % | 34 | % | 2 | % | 18 | % | 30 | % | 25 | % | ||||||||||||||||
|
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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) |
Aggregate total return. |
(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 ratio. 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 |
133 |
BGT | ||||||||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) |
Year Ended December 31, | Period from 11/01/19 to 12/31/19 |
Year Ended October 31, | |||||||||||||||||||||||||||
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
2018 |
|
|
2017 |
| ||||||||||||||||
Net asset value, beginning of period |
$ | 13.44 | $ | 13.40 | $ | 14.10 | $ | 13.95 | $ | 14.33 | $ | 14.49 | $ | 14.41 | ||||||||||||||||
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|
|||||||||||||||||
Net investment income (a) |
0.33 | 0.65 | 0.66 | 0.12 | 0.80 | 0.76 | 0.73 | |||||||||||||||||||||||
Net realized and unrealized gain (loss) |
(1.35 | ) | 0.17 | (0.47 | ) | 0.26 | (0.37 | ) | (0.21 | ) | 0.12 | |||||||||||||||||||
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|
|||||||||||||||||
Net increase (decrease) from investment operations |
(1.02 | ) | 0.82 | 0.19 | 0.38 | 0.43 | 0.55 | 0.85 | ||||||||||||||||||||||
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Distributions (b) |
||||||||||||||||||||||||||||||
From net investment income |
(0.32 | ) (c) |
(0.66 | ) | (0.69 | ) | (0.23 | ) | (0.81 | ) | (0.71 | ) | (0.77 | ) | ||||||||||||||||
Return of capital |
— | (0.12 | ) | (0.20 | ) | — | — | — | — | |||||||||||||||||||||
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|
|||||||||||||||||
Total distributions |
(0.32 | ) | (0.78 | ) | (0.89 | ) | (0.23 | ) | (0.81 | ) | (0.71 | ) | (0.77 | ) | ||||||||||||||||
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|
|||||||||||||||||
Net asset value, end of period |
$ | 12.10 | $ | 13.44 | $ | 13.40 | $ | 14.10 | $ | 13.95 | $ | 14.33 | $ | 14.49 | ||||||||||||||||
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|
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Market price, end of period |
$ | 11.02 | $ | 13.99 | $ | 11.79 | $ | 12.87 | $ | 12.42 | $ | 12.72 | $ | 14.31 | ||||||||||||||||
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|||||||||||||||||
Total Return (d) |
||||||||||||||||||||||||||||||
Based on net asset value |
(7.50 | )% (e) |
6.43 | % | 2.83 | % | 2.89 | % (e) |
4.00 | % | 4.25 | % | 6.13 | % | ||||||||||||||||
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|
|||||||||||||||||
Based on market price |
(19.07 | )% (e) |
25.91 | % | (0.88 | )% | 5.48 | % (e) |
4.31 | % | (6.30 | )% | 11.21 | % | ||||||||||||||||
|
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|
|||||||||||||||||
Ratios to Average Net Assets (f) |
||||||||||||||||||||||||||||||
Total expenses |
1.76 | % (g) |
1.61 | % | 1.72 | % | 2.11 | % (g) |
2.41 | % | 2.29 | % | 1.92 | % | ||||||||||||||||
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|
|||||||||||||||||
Total expenses after fees waived and/or reimbursed |
1.76 | % (g) |
1.60 | % | 1.70 | % | 2.11 | % (g) |
2.41 | % | 2.29 | % | 1.92 | % | ||||||||||||||||
|
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|
|
|
|
|
|
|||||||||||||||||
Total expenses after fees waived and/or reimbursed and excluding interest expense |
1.19 | % (g) |
1.19 | % | 1.17 | % | 1.28 | % (g) |
1.16 | % | 1.21 | % | 1.20 | % | ||||||||||||||||
|
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|
|
|||||||||||||||||
Net investment income |
5.10 | % (g) |
4.82 | % | 5.13 | % | 5.23 | % (g) |
5.68 | % | 5.27 | % | 5.02 | % | ||||||||||||||||
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|
|||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 270,690 | $ | 300,712 | $ | 300,126 | $ | 323,708 | $ | 321,091 | $ | 339,096 | $ | 342,890 | ||||||||||||||||
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|
|||||||||||||||||
Borrowings outstanding, end of period (000) |
$ | 127,000 | $ | 143,000 | $ | 129,000 | $ | 130,000 | $ | 123,000 | $ | 142,000 | $ | 150,000 | ||||||||||||||||
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|
|
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Asset coverage, end of period per $1,000 of bank borrowings |
$ | 3,131 | $ | 3,103 | $ | 3,327 | $ | 3,490 | $ | 3,610 | $ | 3,389 | $ | 3,287 | ||||||||||||||||
|
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|
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|
|
|||||||||||||||||
Portfolio turnover rate |
11 | % | 50 | % | 65 | % | 6 | % | 53 | % | 57 | % | 63 | % | ||||||||||||||||
|
|
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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) |
Aggregate total return. |
(f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(g) |
Annualized. |
134 |
2 0 2 2 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 |
|
||||||||||||
Trust Name |
Herein Referred To As |
Organized |
Diversification Classification |
|||||||||
|
||||||||||||
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 |
135 |
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. |
• | Futures contracts are valued based on that day’s last reported settlement or trade price on the exchange where the contract is traded. |
136 |
2 0 2 2 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 |
• | 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 |
• | 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 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 |
137 |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Global Valuation Committee’s assumptions used in determining the fair value of financial instruments). |
4. |
SECURITIES AND OTHER INVESTMENTS |
138 |
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|
||||||||||||||||||
Trust Name |
Borrower |
Par |
Commitment Amount |
Value |
Unrealized Appreciation (Depreciation) |
|||||||||||||
|
||||||||||||||||||
BHK |
Athenahealth, Inc. | $ | 195,963 | $ | 195,963 | $ | 179,920 | $ | (16,043) | |||||||||
New Arclin U.S. Holding Corp. | 16,201 | 16,120 | 14,913 | (1,207) | ||||||||||||||
HYT |
Athenahealth, Inc. | 1,283,682 | 1,283,682 | 1,178,587 | (105,095) | |||||||||||||
New Arclin U.S. Holding Corp. | 129,776 | 129,126 | 119,458 | (9,668) | ||||||||||||||
BTZ |
Athenahealth, Inc. | 65,453 | 65,274 | 60,095 | (5,179) | |||||||||||||
New Arclin U.S. Holding Corp. | 27,771 | 27,528 | 25,563 | (1,965) | ||||||||||||||
Precision Medicine Group LLC | 14,448 | 14,359 | 13,329 | (1,030) | ||||||||||||||
Reverb Buyer, Inc. | 52,158 | 52,165 | 48,806 | (3,359) | ||||||||||||||
|
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 |
|
||||||||||||||||||
Trust Name |
Borrower |
Par |
Commitment Amount |
Value |
Unrealized Appreciation (Depreciation) |
|||||||||||||
|
||||||||||||||||||
BGT |
Athenahealth, Inc. | $ | 302,121 | $ | 302,121 | $ | 277,386 | $ | (24,735) | |||||||||
CP Iris Holdco I, Inc. | 72,634 | 72,634 | 66,551 | (6,083) | ||||||||||||||
Precision Medicine Group LLC | 49,052 | 49,052 | 45,251 | (3,801) | ||||||||||||||
Reverb Buyer, Inc. | 289,637 | 288,395 | 271,028 | (17,367) | ||||||||||||||
Trident TPI Holdings, Inc. | 33,063 | 33,063 | 30,947 | (2,116) | ||||||||||||||
|
Trust Name |
Average Amount Outstanding |
Weighted Average Interest Rate |
||||||
BHK |
$ | 452,957,005 | 0.39 | % | ||||
BTZ |
529,556,428 | 0.53 |
140 |
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|
||||||||||||||||||||||||||||||||
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. |
$ | (654,417 | ) | $ | 654,417 | $ | — | $ | — | |||||||||||||||||||||||
BNP Paribas S.A. |
(149,957,522 | ) | 149,957,522 | — | — | |||||||||||||||||||||||||||
Cantor Fitzgerald & Company |
(31,546,918 | ) | 31,546,918 | — | — | |||||||||||||||||||||||||||
Credit Agricole Corporate and Investment Bank |
(24,295,984 | ) | 24,295,984 | — | — | |||||||||||||||||||||||||||
Credit Suisse Securities (USA) LLC |
(352,502 | ) | 352,502 | — | — | |||||||||||||||||||||||||||
HSBC Securities (USA), Inc. |
(92,696,272 | ) | 92,696,272 | — | — | |||||||||||||||||||||||||||
Nomura Securities International, Inc. |
(88,610,525 | ) | 88,610,525 | — | — | |||||||||||||||||||||||||||
RBC Capital Markets LLC |
(10,578,470 | ) | 10,578,470 | — | — | |||||||||||||||||||||||||||
TD Securities (USA) LLC |
(23,286,526 | ) | 23,286,526 | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
$ | (421,979,136 | ) | $ | 421,979,136 | $ | — | $ | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
(a) |
Collateral, if any, with a value of $434,131,128 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. |
|
||||||||||||||||||||||||||||||||
Trust Name/Counterparty |
|
Reverse Repurchas e Agreements |
|
|
Fair Value of Non-Cash Collateral Pledged Including Accrued Interest |
(a) |
Cash Collateral Pledged/Received |
(a) |
Net Amount |
|||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
BTZ |
||||||||||||||||||||||||||||||||
Barclays Capital, Inc. |
$ | (129,651,329 | ) | $ | 129,651,329 | $ | — | $ | — | |||||||||||||||||||||||
BNP Paribas S.A. |
(63,979,812 | ) | 63,979,812 | — | — | |||||||||||||||||||||||||||
Credit Suisse Securities (USA) LLC |
(29,371,745 | ) | 29,371,745 | — | — | |||||||||||||||||||||||||||
RBC Capital Markets LLC |
(306,775,515 | ) | 306,775,515 | — | — | |||||||||||||||||||||||||||
TD Securities (USA) LLC |
(17,920,051 | ) | 17,920,051 | — | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
$ | (547,698,452 | ) | $ | 547,698,452 | $ | — | $ | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
(a) |
Collateral, if any, with a value of $608,766,147 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 |
141 |
• | Swaptions — The Trusts may purchase and write options on swaps (“swaptions”) primarily to preserve a return or spread on a particular investment or portion of the Trusts’ holdings, as a duration management technique or to protect against an increase in the price of securities it anticipates purchasing at a later date. The purchaser and writer of a swaption is buying or granting the right to enter into a previously agreed upon interest rate or credit default swap agreement (interest rate risk and/or credit risk) at any time before the expiration of the option. |
• | Interest rate caps and floors — Interest rate caps and floors are entered into to gain or reduce exposure to interest rates (interest rate risk and/or other risk). Caps are agreements whereby one party agrees to make payments to the other, in return for a premium, to the extent that interest rate indexes exceed a specified rate, or “cap.” Floors are agreements whereby one party agrees to make payments to the other, in return for a premium, to the extent that interest rate indexes fall below a specified rate, or “floor.” The maximum potential amount of future payments that a Fund would be required to make under an interest rate cap would be the notional amount times the percentage increase in interest rates determined by the difference between the interest rate index current value and the value at the time the cap was entered into. |
• | Foreign currency options — The Trusts may purchase and write foreign currency options, foreign currency futures and options on foreign currency futures to gain or reduce exposure to foreign currencies (foreign currency exchange rate risk). Foreign currency options give the purchaser the right to buy from or sell to the writer a foreign currency at any time before the expiration of the option. |
142 |
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• | 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). |
• | 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). |
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 |
6. |
INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
Trust Name |
Investment Advisory Fees |
|||
BHK |
0.50 | % | ||
BTZ |
0.62 | |||
BGT |
0.75 |
Trust Name |
Fees Waived and/or Reimbursed by the Manager |
|||
BHK |
$ | 3,231 | ||
HYT |
16,112 | |||
BTZ |
3,305 | |||
BGT |
79 | |||
144 |
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Trust Name |
Purchases |
Sales |
Net Realized Gain (Loss) |
|||||||||
BHK |
$ | 3,863,624 | $ | 441,007 | $ | (172,975 | ) | |||||
HYT |
59,136 | 938,498 | 39,760 | |||||||||
BTZ |
163,445 | 549,077 | (77,795 | ) | ||||||||
7. |
PURCHASES AND SALES |
U.S. Government Securities | Other Securities | |||||||||||||||
Trust Name |
Purchases |
Sales |
Purchases |
Sales |
||||||||||||
BHK |
$ | 10,061,736 | $ | 73,379,727 | $ | 554,225,254 | $ | 526,408,058 | ||||||||
HYT |
— | — | 307,653,957 | 501,683,990 | ||||||||||||
BTZ |
— | — | 252,327,821 | 300,493,490 | ||||||||||||
BGT |
— | — | 47,420,697 | 72,156,313 | ||||||||||||
Trust Name |
Purchases |
Sales |
||||||
BHK |
$ | 128,391,293 | $ | 128,436,775 | ||||
8. |
INCOME TAX INFORMATION |
Trust Name |
Non-Expiring |
|||
HYT |
$ | 121,511,509 | ||
BTZ |
11,269,126 | |||
BGT |
24,851,216 | |||
Trust Name |
Tax Cost |
Gross Unrealized Appreciation |
Gross Unrealized Depreciation |
Net Unrealized Appreciation (Depreciation) |
||||||||||||
BHK |
$ | 1,187,529,702 | $ | 19,888,209 | $ | (118,927,761 | ) | $ | (99,039,552 | ) | ||||||
HYT |
1,854,288,067 | 14,665,116 | (267,839,542 | ) | (253,174,426 | ) | ||||||||||
BTZ |
1,724,514,242 | 30,710,382 | (183,303,302 | ) | (152,592,920 | ) | ||||||||||
BGT |
426,438,450 | 327,921 | (30,071,756 | ) | (29,743,835 | ) | ||||||||||
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 |
9. |
BANK BORROWINGS |
Trust Name |
Maximum Amount Borrowed |
Average Amount Outstanding |
Daily Weighted Average Interest Rate |
|||||||||
HYT |
$ | 663,000,000 | $ | 587,707,182 | 1.23% | |||||||
BGT |
146,000,000 | 134,049,724 | 1.26 | |||||||||
10. |
PRINCIPAL RISKS |
146 |
2 0 2 2 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 |
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 |
11. |
CAPITAL SHARE TRANSACTIONS |
Trust Name |
Six Months Ended 06/30/22 |
Year Ended 12/31/21 |
||||||
BHK |
17,666 | 57,910 | ||||||
HYT |
101,463 | 311,681 | ||||||
BTZ |
— | 28,104 | ||||||
BGT |
2,386 | 7,902 | ||||||
12. |
SUBSEQUENT EVENTS |
Trust Name |
Declaration Date |
Record Date |
Payable/ Paid Date |
Dividend Per Common Share |
||||||||||||
BHK |
07/01/22 | 07/15/22 | 07/29/22 | $ | 0.074600 | |||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.074600 | |||||||||||||
HYT |
07/01/22 | 07/15/22 | 07/29/22 | 0.077900 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.077900 | |||||||||||||
BTZ |
07/01/22 | 07/15/22 | 07/29/22 | 0.083900 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.083900 | |||||||||||||
BGT |
07/01/22 | 07/15/22 | 07/29/22 | 0.064700 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.064700 |
148 |
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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 |
149 |
150 |
2 0 2 2 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 |
151 |
152 |
2 0 2 2 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 |
153 |
154 |
2 0 2 2 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 |
Investment Adviser |
Transfer Agent | |
BlackRock Advisors, LLC | Computershare Trust Company, N.A. | |
Wilmington, DE 19809 | Canton, MA 02021 | |
Sub-Adviser |
Independent Registered Public Accounting Firm | |
BlackRock International Limited | Deloitte & Touche LLP | |
Edinburgh, EH3 8BL | Boston, MA 02116 | |
United Kingdom | ||
Legal Counsel | ||
BlackRock (Singapore) Limited (a) |
Willkie Farr & Gallagher LLP | |
079912 Singapore | New York, NY 10019 | |
Accounting Agent and Custodian |
Address of the Trusts | |
State Street Bank and Trust Company | 100 Bellevue Parkway | |
Boston, MA 02111 | Wilmington, DE 19809 | |
(a) For BHK and BTZ. |
A D D I T I O N A L I N F O R M A T I O N |
155 |
Currency Abbreviation | ||
CAD | Canadian Dollar | |
EUR | Euro | |
GBP | British Pound | |
USD | United States Dollar | |
Portfolio Abbreviation | ||
AGM | Assured Guaranty Municipal Corp. | |
BAB | Build America Bond | |
CAB | Capital Appreciation Bonds | |
CDI | CREST Depository Interest | |
CLO | Collateralized Loan Obligation | |
CMT | Constant Maturity Treasury | |
DAC | Designated Activity Company | |
DIP | Debtor-In-Possession | |
ETF | Exchange-Traded Fund | |
EURIBOR | Euro Interbank Offered Rate | |
GO | General Obligation Bonds | |
LIBOR | London Interbank Offered Rate | |
PCL | Public Company Limited | |
PIK | Payment-in-Kind | |
RB | Revenue Bond | |
REIT | Real Estate Investment Trust | |
S&P | Standard & Poor’s | |
SOFR | Secured Overnight Financing Rate | |
SONIA | Sterling Overnight Interbank Average Rate | |
TBA | To-Be-Announced |
156 |
2 0 2 2 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, there have been no changes in any of the portfolio managers identified in the most recent annual report on Form N-CSR.
Item 9 – | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not Applicable due to no such purchases during the period covered by this report. |
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
(101) Inline Interactive Data File – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document.
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 19, 2022
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 19, 2022
By: | /s/ Trent Walker | |||
Trent Walker | ||||
Chief Financial Officer (principal financial officer) of | ||||
BlackRock Floating Rate Income Trust |
Date: August 19, 2022