N-Q 1 d295693dnq.htm BLACKROCK LTD DURATION INCOME TRUST BLACKROCK Ltd DURATION INCOME TRUST

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-21349

Name of Fund:  BlackRock Limited Duration Income Trust (BLW)

Fund Address:   100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Limited Duration Income Trust, 55 East 52nd Street, New York, NY 10055

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2017

Date of reporting period: 11/30/2016

Item 1 – Schedule of Investments

Schedule of Investments November 30, 2016 (Unaudited)

   

BlackRock Limited Duration Income Trust (BLW)

(Percentages shown are based on Net Assets)

 

Common Stocks          

Shares

     Value  

Chemicals — 0.0%

       

LyondellBasell Industries NV, Class A

              37      $ 3,342   

Construction & Engineering — 0.2%

       

USI United Subcontractors

              6,454        968,096   

Diversified Financial Services — 0.1%

       

Kcad Holdings I Ltd. (a)

              546,753,936        759,988   

Electric Utilities — 0.1%

       

Vistra Energy Corp (a)

              18,142        253,081   

Health Care Management Services — 0.0%

       

New Millennium HoldCo, Inc.

              8,511        13,830   

Household Durables — 0.0%

       

Berkline Benchcraft Equity LLC (a)(b)

              3,155        —   

Oil, Gas & Consumable Fuels — 0.0%

       

Denbury Resources, Inc. (a)

        40,280        152,259   

Southcross Holdings LP

        40        14,000   
      

 

 

  
                       166,259   

Real Estate Investment Trusts (REITs) — 0.0%

       

Ovation Acquisition I LLC, (Acquired 12/28/15, cost $15,599) (c)

              1,013        1,013   
Total Common Stocks — 0.4%                      2,165,609   
                          
Asset-Backed Securities — 13.6%           Par  
(000)		         

ACAS CLO Ltd., Series 2014-1A, Class C, 3.78%, 7/18/26 (d)(e)

      USD        1,000        997,305   

Aircraft Lease Securitisation Ltd., Series 2007-1A, Class G3, 0.79%, 5/10/32 (d)(e)

        8        8,160   

ALM Loan Funding, Series 2013-7RA, Class D,
5.88%, 4/24/24 (d)(e)

        1,040        1,040,031   

ALM VI Ltd., Series 2012-6A, Class B2R,
3.68%, 7/15/26 (d)(e)

        1,000        997,008   

ALM XIV Ltd., Series 2014-14A, Class C,
4.34%, 7/28/26 (d)(e)

        3,140        3,079,067   

AmeriCredit Automobile Receivables, Series 2014-3, Class C, 2.58%, 9/08/20

        4,850        4,916,269   

AMMC CLO 19 Ltd., Series 2016-19A, Class D,
4.63%, 10/15/28 (d)(e)

        1,000        1,000,000   

AMMC CLO Ltd., Series 2014-15A, Class D,
5.03%, 12/09/26 (d)(e)

        2,000        1,960,000   
Asset-Backed Securities           Par
(000)		     Value  

Anchorage Capital CLO 9 Ltd., Series 2016-9A, Class D, 4.95%, 1/15/29 (d)(e)(f)

      USD        350      $ 338,660   

Apidos CLO XVII, Series 2014-17A, Class B, 3.73%, 4/17/26 (d)(e)

        1,000        994,768   

Ares CLO Ltd. (d)(e):

       

Series 2012-2A, Class CR, 3.57%, 10/12/23

        1,000        997,810   

Series 2014 32A, Class B, 4.16%, 11/15/25

        1,250        1,249,894   

Atrium CDO Corp., Series 9A, Class D,
4.44%, 2/28/24 (d)(e)

        1,850        1,827,968   

Benefit Street Partners CLO IV Ltd., Series 2014-IVA, Class B, 3.68%, 7/20/26 (d)(e)

        1,250        1,250,625   

BlueMountain CLO Ltd., Series 2012-2A, Class DR, 5.03%, 11/20/28 (d)(e)

        1,000        1,000,000   

Carlyle Global Market Strategies CLO Ltd.,
Class C (d)(e):

       

Series 2013-1A, 4.90%, 2/14/25

        250        249,969   

Series 2014-5A, 5.03%, 10/16/25

        2,000        2,000,145   

Series 2015-1A, 4.03%, 4/20/27

        500        504,167   

CIFC Funding 2014-IV Ltd., Series 2014-4A, Class C1, 3.78%, 10/17/26 (d)(e)

        2,850        2,850,002   

CIFC Funding Ltd., Class D (d)(e):

       

Series 2014-3A, 4.28%, 7/22/26

        420        399,610   

Series 2015-1A, 4.88%, 1/22/27

        600        571,159   

Credit Suisse ABS Repackaging Trust, Series 2013-A, Class B, 2.50%, 1/25/30 (e)

        1,324        1,237,100   

DCP Rights LLC, Series 2014-1A, Class A,
5.46%, 10/25/44 (e)

        3,133        3,109,296   

Flagship CLO, Series 2014-8A, Class C,
4.01%, 1/16/26 (d)(e)

        1,000        994,971   

Gramercy Park CLO Ltd., Series 2012-1AR, Class CR, 4.93%, 7/17/23 (d)(e)

        5,000        5,008,332   

Litigation Fee Residual Funding, 4.00%, 10/30/27

        1,754        1,742,213   

Madison Park Funding XV Ltd., Series 2014-15A, Class B1, 4.14%, 1/27/26 (d)(e)

        1,500        1,500,622   

OneMain Financial Issuance Trust, Series 2015-2A, Class C, 4.32%, 7/18/25 (e)

        4,000        3,940,450   

OZLM IX Ltd., Series 2014-9A, Class C,
4.48%, 1/20/27 (d)(e)

        1,000        974,551   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    1

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Asset-Backed Securities   

Par

(000)

     Value  

OZLM VII Ltd., Series 2014-7A, Class C,
4.48%, 7/17/26 (d)(e)

      USD        780      $ 749,676   

OZLM VIII Ltd., Series 2014-8A (d)(e):

       

Class B, 3.88%, 10/17/26

        2,500        2,499,747   

Class C, 4.38%, 10/17/26

        500        482,500   

OZLM XII Ltd., Series 2015-12A, Class C,
4.59%, 4/30/27 (d)(e)

        1,000        967,584   

OZLM XV Ltd., Series 2016-15A, Class C,
4.92%, 1/20/29 (d)(e)(f)

        1,000        976,600   

Regatta V Funding Ltd., Series 2014-1A, Class B,
3.88%, 10/25/26 (d)(e)

        2,000        1,999,942   

Santander Drive Auto Receivables Trust:

       

Series 2014-3, Class D, 2.65%, 8/17/20

        4,015        4,058,663   

Series 2014-4, Class C, 2.60%, 11/16/20

        4,500        4,542,373   

Series 2014-4, Class D, 3.10%, 11/16/20

        4,500        4,561,108   

Shackleton I CLO Ltd., Series 2012-1A, Class DR,
5.08%, 8/12/23 (d)(e)

        800        800,000   

Sound Point CLO IV Ltd., Series 2013-3A, Class D, 4.38%, 1/21/26 (d)(e)

        800        773,319   

Sound Point CLO Ltd., Series 2014-3A, Class D, 4.48%, 1/23/27 (d)(e)

        2,000        1,930,000   

Symphony CLO XV Ltd., Series 2014-15A, Class C, 4.08%, 10/17/26 (d)(e)

        4,000        3,999,675   

Symphony CLO XVIII Ltd., Series 2016-18A, Class D, 4.95%, 1/23/28 (d)(e)(f)

        1,000        986,323   

Venture XXI CLO Ltd., Series 2015-21A, Class D, 4.48%, 7/15/27 (d)(e)

        400        384,012   

Vibrant CLO IV Ltd., Series 2016-4A, Class D,
5.13%, 7/20/28 (d)(e)

        1,000        986,568   

Voya CLO Ltd., Class C (d)(e):

       

Series 2014-4A, 4.88%, 10/14/26

        2,500        2,459,058   

Series 2016-3A, 4.67%, 10/18/27

        270        264,600   

World Financial Network Credit Card Master Trust, Series 2012-C, Class B, 3.57%, 8/15/22

        3,000        3,082,046   
Asset-Backed Securities   

Par

(000)

     Value  

York CLO-4 Ltd., Series 2016-2A, Class E,
1.00%, 1/20/30 (f)

      USD        1,000      $ 907,700   
      

 

 

  
                       84,151,646   

Interest Only Asset-Backed Securities — 0.1%

       

Sterling Bank Trust, Series 2004-2, Class Note,
2.08%, 3/30/30 (e)

        4,737        328,655   

Sterling Coofs Trust, Series 2004-1, Class A,
2.00%, 4/15/29

        6,724        458,084   
      

 

 

  
                       786,739   
Total Asset-Backed Securities — 13.7%                      84,938,385   
      
                          
Corporate Bonds                      

Aerospace & Defense — 1.0%

       

Accudyne Industries Borrower/Accudyne Industries LLC, 7.75%, 12/15/20 (e)(g)

        560        438,200   

Bombardier, Inc. (e):

       

7.50%, 3/15/18

        18        19,332   

5.50%, 9/15/18

        566        604,601   

8.75%, 12/01/21

        220        218,350   

6.00%, 10/15/22

        117        102,668   

6.13%, 1/15/23

        290        250,125   

7.50%, 3/15/25

        647        575,118   

KLX, Inc., 5.88%, 12/01/22 (e)

        538        550,105   

Moog, Inc., 5.25%, 12/01/22 (e)

        270        274,725   

TransDigm, Inc.:

       

6.00%, 7/15/22 (g)

        1,852        1,907,560   

6.50%, 7/15/24 (g)

        680        704,650   

6.38%, 6/15/26 (e)

        556        565,730   
      

 

 

  
                       6,211,164   

Air Freight & Logistics — 0.3%

       

XPO Logistics, Inc.:

       

5.75%, 6/15/21

      EUR        100        110,896   

6.50%, 6/15/22 (e)(g)

      USD        1,100        1,139,875   

6.13%, 9/01/23 (e)

        247        252,557   
      

 

 

  
                       1,503,328   

Airlines — 2.2%

       

Air Canada Pass-Through Trust (e):

       

Series 2013-1, Class C, 6.63%, 5/15/18

        651        676,226   

Series 2015-1, Class B,
3.88%, 9/15/24 (g)

        1,397        1,352,020   

American Airlines Group, Inc., 4.63%, 3/01/20 (e)

        315        313,031   

American Airlines Pass-Through Trust,
Series 2013-2 (g):

       

Class A, 4.95%, 7/15/24

        3,087        3,306,925   
 

 

                
2    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Airlines (continued)

       

American Airlines Pass-Through Trust,
Series 2013-2 (g) (continued):

       

Class B, 5.60%, 1/15/22 (e)

      USD        595      $ 614,734   

Continental Airlines Pass-Through Trust,
Series 2012-3, Class C,
6.13%, 4/29/18 (g)

        780        809,250   

Delta Air Lines Pass-Through Trust,
Series 2009-1, Class B,
9.75%, 6/17/18

        176        176,296   

United Airlines Pass-Through Trust:

       

Series 2014-2, Class B,
4.63%, 3/03/24 (g)

        2,080        2,123,916   

Series 2015-1, Class A, 3.70%, 6/01/24

        2,430        2,502,900   

US Airways Pass-Through Trust,
Series 2011-1, Class B, 9.75%, 4/22/20

        333        372,007   

Virgin Australia Trust, Series 2013-1 (e)(g):

       

Class A, 5.00%, 4/23/25

        483        500,947   

Class C, 7.13%, 10/23/18

        555        563,560   
      

 

 

  
                       13,311,812   

Auto Components — 0.5%

       

Allison Transmission, Inc., 5.00%, 10/01/24 (e)

        297        299,227   

CNH Industrial Finance Europe SA, 2.88%, 5/17/23

      EUR        175        187,644   

Delphi Automotive PLC, 4.40%, 10/01/46

      USD        240        220,586   

Fiat Chrysler Finance Europe:

       

4.75%, 3/22/21

      EUR        100        114,803   

4.75%, 7/15/22

        100        114,066   

Goodyear Tire & Rubber Co., 5.00%, 5/31/26

      USD        67        66,497   

Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.88%, 3/15/19 (g)

        1,314        1,323,855   

IHO Verwaltungs GmbH (h):

       

(2.75% Cash or 3.50% PIK), 2.75%, 9/15/21

      EUR        100        107,282   

(3.25% Cash or 4.00% PIK), 3.25%, 9/15/23

        100        105,635   

(4.13% Cash or 4.88% PIK),
4.13%, 9/15/21 (e)

      USD        200        200,419   

(4.5% PIK), 3.75%, 9/15/26

      EUR        100        103,228   

(4.50% Cash or 5.25% PIK),
4.50%, 9/15/23 (e)

      USD        200        193,275   
      

 

 

  
                       3,036,517   
Corporate Bonds   

Par

(000)

     Value  

Automobiles — 0.4%

       

General Motors Co., 3.50%, 10/02/18 (g)

      USD        2,478      $ 2,522,106   

Banks — 1.5%

       

Allied Irish Banks PLC, 4.13%, 11/26/25 (d)

      EUR        100        103,600   

Banco Espirito Santo SA (a)(b):

       

4.75%, 1/15/18

        100        30,206   

4.00%, 1/21/19

        100        30,206   

Bank of Ireland, 4.25%, 6/11/24 (d)

        100        106,699   

Bankia SA, 4.00%, 5/22/24 (d)

        200        210,164   

Barclays PLC, 3.65%, 3/16/25 (g)

      USD        3,600        3,432,002   

CIT Group, Inc.:

       

5.50%, 2/15/19 (e)(g)

        1,195        1,261,472   

5.00%, 8/01/23

        235        242,050   

Commerzbank AG, 7.75%, 3/16/21

      EUR        100        124,551   

Ibercaja Banco SA, 5.00%, 7/28/25 (d)

        100        99,554   

Nordea Bank AB, 4.50%, 3/26/20

        1,020        1,220,401   

Santander Holdings USA, Inc., 4.50%, 7/17/25 (g)

      USD        1,750        1,717,110   

Santander UK Group Holdings PLC,
2.88%, 8/05/21 (g)

        950        927,607   
      

 

 

  
                       9,505,622   

Beverages — 0.5%

       

Anheuser-Busch InBev Finance, Inc.,
3.30%, 2/01/23 (g)

        3,000        3,030,783   

Constellation Brands, Inc., 7.25%, 5/15/17

        82        84,050   
      

 

 

  
                       3,114,833   

Building Materials — 0.0%

       

Titan Global Finance PLC, 3.50%, 6/17/21

      EUR        100        109,599   

Building Products — 0.9%

       

American Builders & Contractors Supply Co., Inc. (e):

       

5.63%, 4/15/21

      USD        190        196,175   

5.75%, 12/15/23

        210        215,250   

Builders FirstSource, Inc., 5.63%, 9/01/24 (e)

        83        83,415   

Building Materials Corp. of America (e):

       

5.38%, 11/15/24

        100        101,750   

6.00%, 10/15/25 (g)

        535        556,400   

CPG Merger Sub LLC, 8.00%, 10/01/21 (e)(g)

        1,030        1,060,900   

Louisiana-Pacific Corp., 4.88%, 9/15/24 (e)

        89        86,442   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    3

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Building Products (continued)

       

Masonite International Corp., 5.63%, 3/15/23 (e)(g)

      USD        404      $ 411,070   

Ply Gem Industries, Inc., 6.50%, 2/01/22

        714        735,420   

Standard Industries, Inc. (e)(g):

       

5.13%, 2/15/21

        40        41,600   

5.50%, 2/15/23

        204        209,610   

USG Corp.:

       

8.25%, 1/15/18 (g)

        1,460        1,540,300   

5.88%, 11/01/21 (e)

        70        73,084   

5.50%, 3/01/25 (e)

        15        15,395   
      

 

 

  
                       5,326,811   

Capital Markets — 0.4%

       

Blackstone CQP Holdco LP, 9.30%, 3/19/19

        1,200        1,208,799   

E*Trade Financial Corp. (g):

       

5.38%, 11/15/22

        272        288,256   

4.63%, 9/15/23

        219        222,403   

Morgan Stanley, 4.00%, 7/23/25 (g)

        965        988,608   
      

 

 

  
                       2,708,066   

Chemicals — 0.8%

       

Axalta Coating Systems Dutch Holding B BV, 3.75%, 1/15/25

      EUR        100        103,830   

Axalta Coating Systems LLC, 4.88%, 8/15/24 (e)

      USD        239        237,805   

CF Industries, Inc.:

       

7.13%, 5/01/20

        130        140,400   

4.95%, 6/01/43

        360        285,300   

Chemours Co.:

       

6.63%, 5/15/23

        166        163,925   

7.00%, 5/15/25

        112        110,320   

Huntsman International LLC:

       

4.88%, 11/15/20

        133        136,657   

5.13%, 4/15/21

      EUR        100        113,139   

Ineos Finance PLC, 4.00%, 5/01/23

        100        108,105   

Inovyn Finance PLC, 6.25%, 5/15/21

        100        111,284   

Momentive Performance Materials, Inc., 3.88%, 10/24/21 (g)

      USD        1,028        961,180   

NOVA Chemicals Corp., 5.25%, 8/01/23 (e)

        130        130,358   

Platform Specialty Products Corp. (e):

       

10.38%, 5/01/21

        53        57,903   

6.50%, 2/01/22 (g)

        1,592        1,568,120   

PQ Corp., 6.75%, 11/15/22 (e)

        319        337,342   

PSPC Escrow Corp., 6.00%, 2/01/23

      EUR        100        102,969   

Corporate Bonds

   

Par

(000)

     Value  

Chemicals (continued)

       

Versum Materials, Inc., 5.50%, 9/30/24 (e)

      USD        156      $ 159,120   

WR Grace & Co-Conn (e):

       

5.13%, 10/01/21

        41        43,050   

5.63%, 10/01/24

        200        212,000   
      

 

 

  
                       5,082,807   

Commercial Services & Supplies — 1.2%

       

ADS Waste Holdings, Inc., 8.25%, 10/01/20

        247        257,189   

ADT Corp.:

       

3.50%, 7/15/22 (g)

        336        316,680   

4.13%, 6/15/23

        78        74,295   

4.88%, 7/15/32 (e)

        119        98,770   

Advanced Disposal Services, Inc.,
5.63%, 11/15/24 (e)

        225        222,750   

Aviation Capital Group Corp., 4.63%, 1/31/18 (e)(g)

        1,000        1,026,970   

Brand Energy & Infrastructure Services, Inc.,
8.50%, 12/01/21 (e)

        824        830,180   

Intelsat Jackson Holdings SA, 7.25%, 4/01/19

        496        389,360   

Iron Mountain, Inc., 6.00%, 10/01/20 (e)

        315        331,538   

Mobile Mini, Inc., 5.88%, 7/01/24 (g)

        447        462,645   

Modular Space Corp., 10.25%, 1/31/19 (a)(b)(e)(g)

        1,253        664,090   

Pitney Bowes, Inc., 3.38%, 10/01/21

        1,500        1,460,055   

S&P Global, Inc., 2.50%, 8/15/18

        445        448,899   

Silk Bidco AS, 7.50%, 2/01/22

      EUR        120        131,633   

United Rentals North America, Inc.:

       

7.63%, 4/15/22

      USD        46        48,645   

5.75%, 11/15/24 (g)

        579        599,265   

Verisure Holding AB, 6.00%, 11/01/22

      EUR        125        143,257   
      

 

 

  
                       7,506,221   

Communications Equipment — 0.9%

       

Alcatel-Lucent USA, Inc., 6.45%, 3/15/29 (g)

      USD        1,490        1,560,775   

Avaya, Inc., 7.00%, 4/01/19 (e)

        125        108,906   

CommScope Technologies Finance LLC,
6.00%, 6/15/25 (e)(g)

        564        587,970   

CommScope, Inc., 5.00%, 6/15/21 (e)

        465        470,813   

Motorola Solutions, Inc., 3.75%, 5/15/22 (g)

        1,500        1,502,886   

Nokia OYJ, 6.63%, 5/15/39

        200        207,000   
 

 

                
4    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Communications Equipment (continued)

       

Zayo Group LLC/Zayo Capital, Inc. (g):

       

6.00%, 4/01/23

      USD        649      $ 676,582   

6.38%, 5/15/25

        549        570,960   
      

 

 

  
                       5,685,892   

Construction & Engineering — 0.3%

       

AECOM Co., 5.75%, 10/15/22

        150        157,125   

Aeropuerto Internacional de Tocumen SA,
5.63%, 5/18/36 (e)(g)

        663        689,520   

BlueLine Rental Finance Corp., 7.00%, 2/01/19 (e)(g)

        575        552,000   

Engility Corp., 8.88%, 9/01/24 (e)

        216        221,940   

Weekley Homes LLC/Weekley Finance Corp.,
6.00%, 2/01/23

        320        291,200   
      

 

 

  
                       1,911,785   

Construction Materials — 0.5%

       

Beacon Roofing Supply, Inc., 6.38%, 10/01/23

        305        324,063   

HD Supply, Inc. (e)(g):

       

5.25%, 12/15/21

        1,828        1,928,540   

5.75%, 4/15/24

        647        661,557   

LKQ Italia Bondco SpA, 3.88%, 4/01/24

      EUR        100        109,959   

PulteGroup, Inc., 5.50%, 3/01/26

      USD        190        188,338   

Rexel SA, 3.50%, 6/15/23

      EUR        116        125,248   
      

 

 

  
                       3,337,705   

Consumer Finance — 1.4%

       

Alliance Data Systems Corp. (e):

       

5.25%, 12/01/17

      USD        28        28,210   

5.88%, 11/01/21

        696        697,740   

Ally Financial, Inc. (g):

       

4.63%, 3/30/25

        846        820,620   

8.00%, 11/01/31

        2,750        3,121,250   

General Motors Financial Co., Inc.,
2.63%, 7/10/17 (g)

        2,760        2,777,026   

Navient Corp.:

       

5.00%, 10/26/20

        310        313,487   

6.63%, 7/26/21

        155        161,781   

5.50%, 1/25/23

        134        127,300   

7.25%, 9/25/23

        257        260,212   

6.13%, 3/25/24

        115        108,819   

5.88%, 10/25/24

        125        115,625   

5.63%, 8/01/33

        95        76,950   

OneMain Financial Holdings LLC (e):

       

6.75%, 12/15/19

        147        149,573   

7.25%, 12/15/21

        117        117,293   
      

 

 

  
                       8,875,886   
Corporate Bonds   

Par

(000)

     Value  

Containers & Packaging — 1.6%

       

Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.:

       

6.75%, 1/31/21 (e)

      USD        605      $ 616,344   

4.16%, 5/15/21 (d)(e)

        200        204,000   

4.25%, 1/15/22

      EUR        120        130,433   

6.75%, 5/15/24

        100        110,622   

Ardagh Packaging Finance PLC/Ardagh MP Holdings USA, Inc. (e):

       

4.63%, 5/15/23

      USD        206        203,296   

7.25%, 5/15/24 (g)

        1,868        1,952,060   

Bahia Sul Holdings GmbH, 5.75%, 7/14/26 (e)

        600        575,250   

Ball Corp., 5.00%, 3/15/22 (g)

        303        318,908   

Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 1/15/23

        128        129,600   

Crown European Holdings SA, 4.00%, 7/15/22

      EUR        149        171,735   

Fibria Overseas Finance Ltd., 5.25%, 5/12/24

      USD        400        392,480   

JH-Holding Finance SA, (8.25% Cash), 8.25%, 12/01/22 (h)

      EUR        200        227,613   

Reynolds Group Issuer, Inc.:

       

5.75%, 10/15/20 (g)

      USD        1,062        1,092,533   

6.88%, 2/15/21

        136        140,192   

8.25%, 2/15/21

        276        284,661   

4.38%, 7/15/21 (d)(e)

        1,060        1,082,525   

5.13%, 7/15/23 (e)

        175        176,750   

7.00%, 7/15/24 (e)

        623        657,654   

Sealed Air Corp.:

       

4.88%, 12/01/22 (e)

        80        81,800   

4.50%, 9/15/23

      EUR        100        114,156   

6.88%, 7/15/33 (e)

      USD        99        101,970   

Signode Industrial Group Lux SA/Signode Industrial Group US, Inc., 6.38%, 5/01/22 (e)

        417        420,128   

Suzano Trading Ltd., 5.88%, 1/23/21 (e)

        500        520,000   

Verallia Packaging SASU, 5.13%, 8/01/22

      EUR        100        110,489   
      

 

 

  
        9,815,199   

Diversified Consumer Services — 0.4%

       

APX Group, Inc.:

       

6.38%, 12/01/19

      USD        81        83,025   

8.75%, 12/01/20

        113        110,740   

7.88%, 12/01/22

        130        138,775   

Laureate Education, Inc., 9.25%, 9/01/19 (e)

        495        475,819   

Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, 5/15/23 (e)(g)

        1,028        1,105,100   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    5

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Diversified Consumer Services (continued)

  

Service Corp. International, 5.38%, 5/15/24 (g)

      USD        180      $ 187,218   

Tereos Finance Groupe I SA, 4.13%, 6/16/23

      EUR        100        106,590   
      

 

 

  
        2,207,267   

Diversified Financial Services — 0.7%

  

Aircastle Ltd.:

       

6.25%, 12/01/19 (g)

      USD        367        396,360   

5.13%, 3/15/21

        16        16,840   

5.50%, 2/15/22

        219        229,950   

Deutsche Bank AG, 4.25%, 10/14/21 (e)

        1,005        989,680   

FBM Finance, Inc., 8.25%, 8/15/21 (e)

        115        119,025   

Garfunkelux Holdco 3 SA, 8.50%, 11/01/22

      GBP        100        128,561   

General Motors Financial Co., Inc.,
4.38%, 9/25/21 (g)

      USD        530        548,389   

HSBC Holdings PLC, 4.38%, 11/23/26

  

     395        393,352   

HSH Nordbank AG, 0.53%, 2/14/17 (d)

      EUR        103        106,686   

Jefferies Finance LLC/JFIN Co-Issuer Corp. (e):

       

7.38%, 4/01/20

      USD        290        283,475   

6.88%, 4/15/22 (g)

        480        451,200   

Mercury Bondco PLC, (8.25% Cash, 9.00% PIK), 8.25%, 5/30/21 (h)

      EUR        100        109,429   

UniCredit SpA:

       

6.95%, 10/31/22

        100        116,510   

5.75%, 10/28/25 (d)

        100        108,848   

4.38%, 1/03/27 (d)

        100        102,889   
      

 

 

  
        4,101,194   

Diversified Telecommunication Services — 2.0%

  

CenturyLink, Inc.:

       

6.45%, 6/15/21

      USD        518        534,511   

Series U, 7.65%, 3/15/42

        147        124,436   

Series Y, 7.50%, 4/01/24

        161        166,215   

Cincinnati Bell, Inc., 7.00%, 7/15/24 (e)

        547        571,615   

Consolidated Communications, Inc.,
6.50%, 10/01/22

        100        97,000   

Frontier Communications Corp.:

       

7.13%, 3/15/19

        170        176,375   

6.25%, 9/15/21

        35        32,813   

7.13%, 1/15/23 (g)

        170        147,475   

7.63%, 4/15/24 (g)

        496        427,800   

6.88%, 1/15/25 (g)

        1,168        946,080   

11.00%, 9/15/25 (g)

        445        446,112   

Level 3 Financing, Inc.:

       

4.76%, 1/15/18 (d)

        411        411,514   
Corporate Bonds   

Par

(000)

     Value  

Diversified Telecommunication Services (continued)

  

Level 3 Financing, Inc. (continued):

       

5.38%, 8/15/22 (g)

      USD        240      $ 244,200   

5.13%, 5/01/23 (g)

        735        734,081   

5.38%, 1/15/24

        240        241,200   

5.38%, 5/01/25 (g)

        261        259,695   

5.25%, 3/15/26 (e)

        167        164,077   

OTE PLC, 3.50%, 7/09/20

      EUR        100        107,772   

SBA Communications Corp.,
4.88%, 9/01/24 (e)

      USD        579        558,011   

SoftBank Group Corp., 4.75%, 7/30/25

      EUR        122        138,676   

Telecom Italia Capital SA:

       

6.38%, 11/15/33

      USD        130        124,150   

6.00%, 9/30/34

        630        589,050   

7.20%, 7/18/36

        160        159,952   

Telecom Italia Finance SA, 7.75%, 1/24/33

      EUR        37        48,971   

Telecom Italia SpA:

       

6.38%, 6/24/19

      GBP        200        272,672   

5.88%, 5/19/23

        100        137,514   

Telenet Finance V Luxembourg SCA,
6.75%, 8/15/24

      EUR        129        150,393   

Verizon Communications, Inc. (g):

       

3.65%, 9/14/18

      USD        3,855        3,975,110   

4.50%, 9/15/20

        145        155,217   

Windstream Corp., 7.75%, 10/01/21

        26        25,870   

Windstream Services LLC, 7.50%, 6/01/22

        79        74,631   
      

 

 

  
                       12,243,188   

Electric Utilities — 0.6%

  

AES Corp., 4.88%, 5/15/23

        270        261,900   

AES Gener SA, 5.00%, 7/14/25 (e)(g)

        683        675,452   

Black Hills Corp., 3.15%, 1/15/27

        305        293,517   

Exelon Corp., 3.40%, 4/15/26 (g)

        140        137,431   

Mirant Mid Atlantic Pass-Through Trust, Series B, 9.13%, 6/30/17 (g)

        197        172,150   

Southern Co., 2.95%, 7/01/23 (g)

        1,920        1,901,186   

Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc. (a)(e):

       

10.25%, 11/01/15

        47        268   

10.50%, 11/01/17

        31        177   

11.50%, 10/01/20

        300        6,000   
      

 

 

  
                       3,448,081   

Electrical Equipment — 0.0%

  

Areva SA, 4.88%, 9/23/24

      EUR        50        52,860   
 

 

                
6    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Electrical Equipment (continued)

  

Belden, Inc., 5.50%, 4/15/23

      EUR        149      $ 168,255   
   

 

 

  
        221,115   

Electronic Equipment, Instruments & Components — 0.2%

  

CDW LLC/CDW Finance Corp.:

       

6.00%, 8/15/22 (g)

      USD        615        651,900   

5.00%, 9/01/23

        122        122,610   

5.50%, 12/01/24 (g)

        665        681,625   
   

 

 

  
        1,456,135   

Energy Equipment & Services — 0.5%

  

Ensco PLC, 4.50%, 10/01/24 (g)

  

     73        58,400   

Genesis Energy LP/Genesis Energy Finance Corp.:

       

5.75%, 2/15/21

        30        30,150   

6.75%, 8/01/22

        397        405,933   

Halliburton Co., 3.80%, 11/15/25 (g)

        100        99,961   

Noble Holding International Ltd., 4.63%, 3/01/21

        30        23,850   

Transocean, Inc.:

       

4.25%, 10/15/17 (g)

        414        413,793   

6.00%, 3/15/18 (g)

        740        744,625   

7.38%, 4/15/18

        30        30,600   

5.55%, 10/15/22

        497        438,602   

9.00%, 7/15/23 (e)

        237        239,963   

Weatherford International Ltd., 9.88%, 2/15/24 (e)

  

     336        346,080   
   

 

 

  
        2,831,957   

Environmental, Maintenance, & Security Service — 0.0%

  

Befesa Zinc SAU Via Zinc Capital SA, 8.88%, 5/15/18

      EUR        100        108,406   

Food & Staples Retailing — 1.1%

  

Albertsons Cos. LLC/Safeway, Inc./New Albertson’s, Inc./Albertson’s LLC (e):

       

6.63%, 6/15/24

      USD        226        233,594   

5.75%, 3/15/25

        309        303,222   

Casino Guichard Perrachon SA:

       

3.31%, 1/25/23

      EUR        100        114,762   

3.25%, 3/07/24

        200        222,319   

2.33%, 2/07/25

        100        103,701   

CVS Health Corp., 4.75%, 12/01/22 (g)

      USD        165        179,495   

Dollar Tree, Inc.:

       

5.25%, 3/01/20

        58        59,885   

5.75%, 3/01/23 (g)

        2,211        2,360,242   

Pinnacle Foods Finance LLC/Pinnacle Foods Finance Corp., 5.88%, 1/15/24

        62        65,255   

Rite Aid Corp.:

       

9.25%, 3/15/20 (g)

        1,095        1,145,644   
Corporate Bonds   

Par

(000)

     Value  

Food & Staples Retailing (continued)

  

Rite Aid Corp. (continued):

       

6.13%, 4/01/23 (e)(g)

      USD        1,498      $ 1,601,212   

7.70%, 2/15/27

        45        55,575   

Tesco PLC, 5.00%, 3/24/23

      GBP        100        133,129   
      

 

 

  
                       6,578,035   

Food Products — 0.8%

  

Acosta, Inc., 7.75%, 10/01/22 (e)

      USD        319        263,973   

Aramark Services, Inc.:

       

5.13%, 1/15/24 (g)

        729        748,442   

5.13%, 1/15/24 (e)

        29        29,773   

Arcor SAIC, 6.00%, 7/06/23 (e)

        403        413,075   

JBS USA LLC/JBS USA Finance, Inc. (e):

       

7.25%, 6/01/21

        40        41,200   

5.88%, 7/15/24

        140        139,300   

5.75%, 6/15/25

        485        475,300   

Marfrig Holdings Europe BV,
8.00%, 6/08/23 (e)(g)

        410        411,025   

Minerva Luxembourg SA, 6.50%, 9/20/26 (e)

        244        229,360   

Post Holdings, Inc. (e):

       

7.75%, 3/15/24 (g)

        844        930,510   

8.00%, 7/15/25

        416        467,085   

Smithfield Foods, Inc., 5.88%, 8/01/21 (e)

        193        200,479   

TreeHouse Foods, Inc., 6.00%, 2/15/24 (e)(g)

        383        397,362   

WhiteWave Foods Co., 5.38%, 10/01/22

        168        185,220   
      

 

 

  
                       4,932,104   

Health Care Equipment & Supplies — 0.6%

  

Crimson Merger Sub, Inc., 6.63%, 5/15/22 (e)

        810        676,350   

DJO Finco, Inc./DJO Finance LLC/DJO Finance Corp., 8.13%, 6/15/21 (e)(g)

        1,261        1,100,222   

Fresenius Medical Care US Finance II, Inc., 4.75%, 10/15/24 (e)

        115        115,000   

IDH Finance PLC, 6.25%, 8/15/22

      GBP        100        117,300   

Mallinckrodt International Finance SA/Mallinckrodt CB LLC (e):

       

4.88%, 4/15/20 (g)

      USD        284        278,320   

5.75%, 8/01/22

        330        307,725   

Teleflex, Inc.:

       

3.88%, 8/01/17 (i)

        100        240,500   

5.25%, 6/15/24

        250        253,438   

4.88%, 6/01/26

        56        55,440   

Thermo Fisher Scientific, Inc., 3.00%, 4/15/23 (g)

        305        302,281   
      

 

 

  
                       3,446,576   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    7

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Health Care Providers & Services — 2.8%

  

Acadia Healthcare Co., Inc.:

       

5.13%, 7/01/22

      USD        105      $ 101,587   

5.63%, 2/15/23

        234        230,490   

6.50%, 3/01/24

        61        60,695   

Aetna, Inc., 2.80%, 6/15/23 (g)

        340        332,324   

Alere, Inc., 6.38%, 7/01/23 (e)

        535        539,681   

Amsurg Corp., 5.63%, 7/15/22 (g)

        618        631,132   

Centene Corp.:

       

5.63%, 2/15/21

        359        369,770   

4.75%, 5/15/22 (g)

        384        378,240   

6.13%, 2/15/24

        37        37,596   

CHS/Community Health Systems, Inc.:

       

5.13%, 8/15/18

        375        365,625   

8.00%, 11/15/19

        29        22,838   

6.88%, 2/01/22 (g)

        385        256,747   

DaVita HealthCare Partners, Inc., 5.13%, 7/15/24 (g)

        530        523,375   

Envision Healthcare Corp., 5.13%, 7/01/22 (e)

        165        162,525   

HCA Holdings, Inc., 6.25%, 2/15/21

        35        36,733   

HCA, Inc.:

       

3.75%, 3/15/19 (g)

        786        803,685   

6.50%, 2/15/20 (g)

        125        136,094   

7.50%, 2/15/22 (g)

        342        380,475   

5.88%, 3/15/22 (g)

        82        88,048   

4.75%, 5/01/23

        38        38,285   

5.88%, 5/01/23

        70        71,925   

5.00%, 3/15/24 (g)

        755        756,887   

5.38%, 2/01/25 (g)

        653        639,124   

5.25%, 4/15/25 (g)

        1,230        1,239,225   

5.88%, 2/15/26 (g)

        426        424,402   

5.25%, 6/15/26 (g)

        123        123,133   

4.50%, 2/15/27

        388        365,690   

HealthSouth Corp.:

       

5.75%, 11/01/24 (g)

        720        721,800   

5.75%, 9/15/25

        102        101,745   

2.00%, 12/01/43 (i)

        335        398,022   

Hologic, Inc., 5.25%, 7/15/22 (e)(g)

        439        455,462   

MEDNAX, Inc., 5.25%, 12/01/23 (e)(g)

        201        204,015   

MPH Acquisition Holdings LLC,
7.13%, 6/01/24 (e)

        737        774,771   

New Amethyst Corp.,
6.25%, 12/01/24 (e)(f)

        111        114,885   

RegionalCare Hospital Partners Holdings, Inc., 8.25%, 5/01/23 (e)

        341        339,721   

Sterigenics-Nordion Holdings LLC,
6.50%, 5/15/23 (e)

        104        104,520   
Corporate Bonds   

Par

(000)

     Value  

Health Care Providers & Services (continued)

  

Surgery Center Holdings, Inc.,
8.88%, 4/15/21 (e)

      USD        71      $ 74,195   

Tenet Healthcare Corp.:

       

6.25%, 11/01/18 (g)

        264        275,220   

4.75%, 6/01/20 (g)

        520        514,150   

4.35%, 6/15/20 (d)(g)

        805        805,000   

6.00%, 10/01/20

        241        245,519   

7.50%, 1/01/22 (e)(f)

        141        144,966   

6.75%, 6/15/23 (g)

        1,361        1,163,655   

UnitedHealth Group, Inc., 3.75%, 7/15/25 (g)

        1,470        1,527,217   
      

 

 

  
                       17,081,194   

Hotels, Restaurants & Leisure — 4.1%

  

Boyd Gaming Corp., 6.88%, 5/15/23

        261        277,313   

Caesars Entertainment Resort Properties LLC/Caesars Entertainment Resort Property, 8.00%, 10/01/20 (g)

        2,225        2,325,125   

Carlson Travel Holdings, Inc., (7.50% Cash or 8.25% PIK), 7.50%, 8/15/19 (e)(h)

        204        200,940   

Cemex Finance LLC, 9.38%, 10/12/22 (e)

        459        498,015   

CPUK Finance Ltd., 7.00%, 2/28/42

      GBP        100        132,058   

Enterprise Funding Ltd., Series ETI, 3.50%, 9/10/20 (i)

        100        109,980   

ESH Hospitality, Inc., 5.25%, 5/01/25 (e)(g)

      USD        390        377,325   

GLP Capital LP/GLP Financing II, Inc., 4.38%, 11/01/18 (g)

        357        369,495   

International Game Technology PLC, 4.75%, 2/15/23

      EUR        125        140,973   

KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC (e):

       

5.00%, 6/01/24

      USD        35        35,350   

5.25%, 6/01/26

        152        153,520   

McDonald’s Corp., 3.70%, 1/30/26 (g)

        405        411,048   

MGM Resorts International:

       

8.63%, 2/01/19

        149        165,390   

5.25%, 3/31/20

        368        386,170   

6.75%, 10/01/20

        248        271,560   

6.63%, 12/15/21 (g)

        960        1,048,800   

7.75%, 3/15/22

        60        68,550   

4.63%, 9/01/26

        229        218,123   

MGP Escrow Issuer LLC/MGP Escrow Co-Issuer, Inc., 5.63%, 5/01/24 (e)(g)

        1,277        1,337,657   

New Red Finance, Inc., 6.00%, 4/01/22 (e)(g)

        1,095        1,141,537   
 

 

                
8    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Hotels, Restaurants & Leisure (continued)

  

PortAventura Entertainment Barcelona BV, 7.25%, 12/01/20

      EUR        100      $ 109,756   

RHP Hotel Properties LP/RHP Finance Corp., 5.00%, 4/15/21 (g)

      USD        630        639,450   

Sabre GLBL, Inc. (e):

       

5.38%, 4/15/23

        192        194,400   

5.25%, 11/15/23

        242        245,025   

Scientific Games International, Inc.:

       

7.00%, 1/01/22 (e)(g)

        233        245,815   

10.00%, 12/01/22

        594        556,875   

Six Flags Entertainment Corp. (e):

       

5.25%, 1/15/21 (g)

        486        500,945   

4.88%, 7/31/24

        31        30,070   

Spirit Issuer PLC:

       

Series A1, 0.93%, 12/28/28 (d)

      GBP        445        390,091   

Series A2, 3.08%, 12/28/31 (d)

        1,800        2,072,399   

Series A5, 5.47%, 12/28/28

        4,500        5,786,326   

Series A6, 2.18%, 12/28/36 (d)

        2,670        3,140,251   

Station Casinos LLC, 7.50%, 3/01/21 (g)

      USD        1,025        1,073,688   

Tropicana Entertainment LLC/Tropicana Finance Corp., 9.63%, 12/15/16 (a)(b)

        375        —   

Unique Pub Finance Co. PLC, Series A4, 5.66%, 6/30/27

      GBP        298        391,035   

Yum! Brands, Inc., 3.88%, 11/01/23

      USD        98        93,590   
      

 

 

  
        25,138,645   

Household Durables — 0.4%

  

Berkline/Benchcraft LLC, 4.50%, 6/01/17 (a)(b)

        200        —   

Brookfield Residential Properties, Inc./Brookfield Residential US Corp., 6.13%, 7/01/22 (e)

        259        260,295   

CalAtlantic Group, Inc.:

       

8.38%, 1/15/21

        134        155,775   

5.38%, 10/01/22

        6        6,121   

5.25%, 6/01/26

        10        9,700   

Lennar Corp.:

       

4.50%, 11/15/19

        370        383,412   

4.75%, 4/01/21

        26        26,715   

4.75%, 11/15/22

        132        134,310   

4.88%, 12/15/23

        122        120,170   

4.75%, 5/30/25

        260        248,950   

PulteGroup, Inc., 6.38%, 5/15/33 (g)

        600        601,500   

Riverbed Technology, Inc., 8.88%, 3/01/23 (e)

        165        172,013   
Corporate Bonds   

Par

(000)

     Value  

Household Durables (continued)

  

Standard Pacific Corp., 5.88%, 11/15/24

      USD        30      $ 30,825   

Tempur Sealy International, Inc., 5.50%, 6/15/26

        41        40,795   

TRI Pointe Group, Inc.:

       

4.38%, 6/15/19

        110        111,650   

4.88%, 7/01/21

        190        193,325   

5.88%, 6/15/24 (g)

        170        172,337   
      

 

 

  
        2,667,893   

Household Products — 0.2%

  

Prestige Brands, Inc., 6.38%, 3/01/24 (e)

  

     150        156,750   

Spectrum Brands, Inc.:

       

6.63%, 11/15/22 (g)

        815        863,900   

6.13%, 12/15/24

        75        79,500   

5.75%, 7/15/25 (g)

        236        244,850   
      

 

 

  
        1,345,000   

Independent Power and Renewable Electricity Producers — 0.6%

  

Calpine Corp.:

       

6.00%, 1/15/22 (e)

        33        34,443   

5.38%, 1/15/23 (g)

        254        245,214   

5.88%, 1/15/24 (e)

        108        112,995   

Dynegy, Inc.:

       

6.75%, 11/01/19 (g)

        610        616,100   

7.38%, 11/01/22

        324        307,800   

5.88%, 6/01/23

        35        30,538   

7.63%, 11/01/24

        115        105,800   

8.00%, 1/15/25 (e)

        25        23,000   

NRG Energy, Inc.:

       

7.88%, 5/15/21 (g)

        198        205,425   

6.25%, 7/15/22

        600        601,500   

6.63%, 3/15/23

        40        39,800   

6.25%, 5/01/24

        40        38,700   

7.25%, 5/15/26 (e)

        208        203,320   

6.63%, 1/15/27 (e)

        577        533,725   

NRG Yield Operating LLC,
5.38%, 8/15/24 (g)

        135        133,988   

QEP Resources, Inc., 5.38%, 10/01/22 (g)

        726        706,035   
      

 

 

  
        3,938,383   

Industrial Conglomerates — 0.1%

  

Cortes NP Acquisition Corp.,
9.25%, 10/15/24 (e)

              317        319,576   

Insurance — 1.3%

  

Allied World Assurance Co. Holdings Ltd., 4.35%, 10/29/25 (g)

        360        363,341   

American International Group, Inc.,
3.75%, 7/10/25 (g)

        2,705        2,718,044   

Aon PLC, 3.88%, 12/15/25 (g)

        1,115        1,140,639   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    9

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Insurance (continued)

       

Assicurazioni Generali SpA,
7.75%, 12/12/42 (d)

      EUR        100      $ 121,900   

Forethought Financial Group, Inc.,
8.63%, 4/15/21 (e)(g)

      USD        750        837,319   

HUB International Ltd. (e):

       

9.25%, 2/15/21

        129        132,870   

7.88%, 10/01/21 (g)

        686        700,577   

Lincoln National Corp., 3.35%, 3/09/25 (g)

        845        836,517   

Muenchener Rueckversicherungs AG,
6.00%, 5/26/41 (d)

      EUR        400        497,642   

Wayne Merger Sub LLC, 8.25%, 8/01/23 (e)

      USD        545        551,812   
      

 

 

  
                       7,900,661   

Internet Software & Services — 0.2%

       

Equinix, Inc., 5.88%, 1/15/26 (g)

        828        859,058   

Netflix, Inc., 5.75%, 3/01/24 (g)

        600        634,500   
      

 

 

  
                       1,493,558   

IT Services — 0.8%

       

Ceridian HCM Holding, Inc.,
11.00%, 3/15/21 (e)(g)

        219        224,475   

First Data Corp. (e)(g):

       

7.00%, 12/01/23

        1,851        1,937,775   

5.75%, 1/15/24

        2,199        2,226,488   

Millennium Corp., 12/31/49

        1,779        —   

Western Digital Corp., 10.50%, 4/01/24 (e)

        108        125,010   

WEX, Inc., 4.75%, 2/01/23 (e)

        220        216,150   
      

 

 

  
                       4,729,898   

Machinery — 0.1%

       

Gardner Denver, Inc., 6.88%, 8/15/21 (e)

        135        132,975   

SPX FLOW, Inc. (e):

       

5.63%, 8/15/24

        292        286,890   

5.88%, 8/15/26

        157        153,467   
      

 

 

  
                       573,332   

Media — 7.1%

       

Adria Bidco BV, 7.88%, 11/15/20

      EUR        100        110,277   

Altice Financing SA:

       

5.25%, 2/15/23

        100        110,648   

6.63%, 2/15/23 (e)

      USD        575        583,625   

7.50%, 5/15/26 (e)

        237        240,259   

Altice Luxembourg SA (e)(g):

       

7.75%, 5/15/22

        465        487,087   

7.63%, 2/15/25

        286        293,150   

Altice US Finance I Corp. (e)(g):

       

5.38%, 7/15/23

        1,146        1,158,892   

5.50%, 5/15/26

        239        236,610   
Corporate Bonds   

Par

(000)

     Value  

Media (continued)

       

AMC Networks, Inc.:

       

4.75%, 12/15/22

      USD        70      $ 70,088   

5.00%, 4/01/24

        267        267,668   

Cablevision SA, 6.50%, 6/15/21 (e)

        335        340,025   

Cablevision Systems Corp.:

       

8.63%, 9/15/17

        114        118,560   

7.75%, 4/15/18

        464        487,780   

8.00%, 4/15/20

        125        134,375   

CBS Radio, Inc., 7.25%, 11/01/24 (e)

        222        233,238   

CCO Holdings LLC/CCO Holdings Capital Corp.:

       

5.25%, 9/30/22 (g)

        595        617,312   

5.13%, 2/15/23

        270        277,425   

5.13%, 5/01/23 (e)(g)

        561        574,674   

5.88%, 4/01/24 (e)(g)

        146        154,578   

5.75%, 2/15/26 (e)(g)

        225        231,188   

5.50%, 5/01/26 (e)

        419        423,190   

5.88%, 5/01/27 (e)(g)

        1,025        1,045,500   

Cellnex Telecom SA, 2.38%, 1/16/24

      EUR        100        103,421   

Cequel Communications Holdings I LLC/Cequel Capital Corp. (e):

       

6.38%, 9/15/20

      USD        150        153,000   

5.13%, 12/15/21

        56        55,160   

5.13%, 12/15/21 (g)

        625        616,406   

7.75%, 7/15/25 (g)

        1,276        1,365,320   

Charter Communications Operating LLC/Charter Communications Operating Capital, 4.91%, 7/23/25 (e)(g)

        2,425        2,531,336   

Clear Channel International BV,
8.75%, 12/15/20 (e)(g)

        425        444,125   

Clear Channel Worldwide Holdings, Inc. (g):

       

6.50%, 11/15/22

        3,039        3,036,150   

Series B, 7.63%, 3/15/20

        952        938,910   

Columbus Cable Barbados Ltd.,
7.38%, 3/30/21 (e)(g)

        686        729,732   

CSC Holdings LLC:

       

10.13%, 1/15/23 (e)

        1,010        1,164,025   

5.25%, 6/01/24 (g)

        755        707,737   

6.63%, 10/15/25 (e)(g)

        235        253,800   

10.88%, 10/15/25 (e)

        677        788,705   

Discovery Communications LLC (g):

       

3.25%, 4/01/23

        1,490        1,451,984   

3.45%, 3/15/25

        170        163,240   

DISH DBS Corp.:

       

5.88%, 7/15/22

        688        712,080   

5.88%, 11/15/24 (g)

        308        312,235   

7.75%, 7/01/26 (g)

        773        853,199   
 

 

                
10    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Media (continued)

  

DISH Network Corp., 3.38%, 8/15/26 (e)(i)

      USD        274      $ 306,195   

eircom Finance DAC, 4.50%, 5/31/22

      EUR        100        109,421   

Hughes Satellite Systems Corp. (e):

       

5.25%, 8/01/26 (g)

      USD        218        206,283   

6.63%, 8/01/26

        263        253,138   

iHeartCommunications, Inc.:

       

9.00%, 12/15/19

        380        299,250   

9.00%, 3/01/21

        50        36,875   

9.00%, 9/15/22 (g)

        755        558,700   

10.63%, 3/15/23 (g)

        944        700,920   

Intelsat Jackson Holdings SA, 5.50%, 8/01/23 (g)

        501        326,902   

LG Finance Co. Corp., 5.88%, 11/01/24 (e)

        85        84,575   

McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance, 7.88%, 5/15/24 (e)

        91        89,635   

MDC Partners, Inc., 6.50%, 5/01/24 (e)

        309        265,354   

Midcontinent Communications & Midcontinent Finance Corp. (e):

       

6.25%, 8/01/21

        245        255,719   

6.88%, 8/15/23

        112        117,740   

NAI Entertainment Holdings/NAI Entertainment Holdings Finance Corp., 5.00%, 8/01/18 (e)(g)

        345        348,450   

National CineMedia LLC, 5.75%, 8/15/26

        88        90,200   

Nexstar Escrow Corp., 5.63%, 8/01/24 (e)

        238        235,620   

Nielsen Finance LLC/Nielsen Finance Co.,
5.00%, 4/15/22 (e)(g)

        635        647,700   

Numericable Group SA, 5.38%, 5/15/22

      EUR        110        121,189   

Outfront Media Capital LLC/Outfront Media Capital Corp.:

       

5.25%, 2/15/22

      USD        300        311,250   

5.63%, 2/15/24 (g)

        439        451,072   

RCN Telecom Services LLC/RCN Capital Corp., 8.50%, 8/15/20 (e)(g)

        450        477,000   

SFR Group SA (e):

       

6.00%, 5/15/22 (g)

        370        372,775   

6.25%, 5/15/24

        1,400        1,384,250   

7.38%, 5/01/26 (g)

        2,343        2,337,142   

Sirius XM Radio, Inc. (e):

       

5.75%, 8/01/21 (g)

        424        442,550   

4.63%, 5/15/23

        25        24,563   
Corporate Bonds   

Par

(000)

     Value  

Media (continued)

  

Sterling Entertainment Corp., 9.75%, 12/15/19

      USD        1,175      $ 1,163,250   

TEGNA, Inc.:

       

5.13%, 10/15/19

        197        201,990   

4.88%, 9/15/21 (e)

        38        39,093   

Telesat Canada/Telesat LLC, 8.88%, 11/15/24 (e)

        169        172,591   

Tribune Media Co., 5.88%, 7/15/22 (g)

        786        766,507   

Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH:

       

5.63%, 4/15/23

      EUR        80        90,087   

4.00%, 1/15/25

        136        146,439   

Univision Communications, Inc. (e)(g):

       

5.13%, 5/15/23

      USD        948        913,635   

5.13%, 2/15/25

        1,218        1,154,055   

Virgin Media Finance PLC, 5.75%, 1/15/25 (e)

        255        252,450   

Virgin Media Secured Finance PLC:

       

6.00%, 4/15/21

      GBP        382        495,362   

5.13%, 1/15/25

        100        125,120   

5.25%, 1/15/26 (e)(g)

      USD        355        343,462   

5.50%, 8/15/26 (e)(g)

        200        196,000   

WaveDivision Escrow LLC/WaveDivision Escrow Corp., 8.13%, 9/01/20 (e)(g)

        790        817,650   

Wind Acquisition Finance SA, 7.38%, 4/23/21 (e)(g)

        925        943,500   

Ziggo Bond Finance BV:

       

4.63%, 1/15/25

      EUR        137        144,764   

5.88%, 1/15/25 (e)(g)

      USD        470        461,775   
      

 

 

  
                       43,858,912   

Metals & Mining — 3.1%

  

Alcoa, Inc.:

       

5.87%, 2/23/22 (g)

        630        668,588   

5.13%, 10/01/24

        498        507,960   

5.90%, 2/01/27

        105        106,575   

Anglo American Capital PLC:

       

1.50%, 4/01/20

      EUR        100        105,312   

4.45%, 9/27/20 (e)

      USD        206        210,635   

4.13%, 4/15/21 (e)

        200        200,500   

3.50%, 3/28/22

      EUR        100        111,227   

4.13%, 9/27/22 (e)

      USD        200        200,500   

ArcelorMittal:

       

7.25%, 2/25/22

        22        24,750   

8.00%, 10/15/39

        94        99,405   

7.75%, 3/01/41

        323        331,850   

Constellium NV (e):

       

8.00%, 1/15/23

        300        309,750   

5.75%, 5/15/24 (g)

        1,127        1,048,110   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    11

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Metals & Mining (continued)

       

First Quantum Minerals Ltd. (e):

       

7.00%, 2/15/21

      USD        119      $ 117,215   

7.25%, 5/15/22

        356        345,320   

FMG Resources August 2006 Property Ltd., 9.75%, 3/01/22 (e)

        189        218,030   

Freeport-McMoRan, Inc.:

       

2.30%, 11/14/17

        286        285,285   

2.38%, 3/15/18 (g)

        2,751        2,730,367   

3.10%, 3/15/20

        1,315        1,291,987   

4.00%, 11/14/21

        240        235,200   

3.55%, 3/01/22

        625        591,563   

3.88%, 3/15/23

        1,478        1,389,320   

5.40%, 11/14/34

        126        110,250   

5.45%, 3/15/43

        1,005        859,275   

Joseph T Ryerson & Son, Inc., 11.00%, 5/15/22 (e)

        172        187,480   

Kaiser Aluminum Corp., 5.88%, 5/15/24

        112        115,640   

Novelis Corp. (e):

       

6.25%, 8/15/24

        813        841,455   

5.88%, 9/30/26

        909        907,864   

Nyrstar NV, Series NYR, 5.00%, 7/11/22 (i)

      EUR        100        105,434   

Steel Dynamics, Inc.:

       

5.13%, 10/01/21 (g)

      USD        645        672,412   

6.38%, 8/15/22 (g)

        555        584,138   

5.25%, 4/15/23 (g)

        200        207,500   

5.50%, 10/01/24

        56        59,220   

Teck Resources Ltd.:

       

3.00%, 3/01/19 (g)

        208        206,440   

4.50%, 1/15/21

        370        376,938   

3.75%, 2/01/23

        667        633,650   

8.50%, 6/01/24 (e)

        380        443,650   

6.13%, 10/01/35

        91        91,018   

6.00%, 8/15/40 (g)

        348        337,560   

6.25%, 7/15/41 (g)

        178        178,454   

5.20%, 3/01/42 (g)

        563        509,515   

5.40%, 2/01/43

        149        134,845   

United States Steel Corp., 8.38%, 7/01/21 (e)

        320        353,600   

Wise Metals Group LLC/Wise Alloys Finance Corp., 8.75%, 12/15/18 (e)(g)

        388        402,550   
      

 

 

  
                       19,448,337   

Multi-Utilities — 0.3%

       

Brooklyn Union Gas Co., 3.41%, 3/10/26 (e)(g)

        1,475        1,488,145   

NGL Energy Partners LP/NGL Energy Finance Corp.:

       

6.88%, 10/15/21

        209        208,478   
Corporate Bonds   

Par

(000)

     Value  

Multi-Utilities (continued)

       

NGL Energy Partners LP/NGL Energy Finance Corp. (continued):

       

7.50%, 11/01/23 (e)

      USD        190      $ 189,525   
      

 

 

  
                       1,886,148   

Multiline Retail — 0.1%

       

Neiman Marcus Group Ltd., 8.00%, 10/15/21 (e)(g)

              646        507,110   

Offshore Drilling & Other Services — 0.0%

       

Sensata Technologies BV, 5.63%, 11/01/24 (e)

              179        186,608   

Oil, Gas & Consumable Fuels — 7.2%

       

Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.38%, 9/15/24 (e)

        55        56,100   

Antero Resources Corp., 5.63%, 6/01/23

        39        39,731   

California Resources Corp., 8.00%, 12/15/22 (e)(g)

        847        677,600   

Callon Petroleum Co., 6.13%, 10/01/24 (e)

        209        214,225   

Carrizo Oil & Gas, Inc., 6.25%, 4/15/23 (g)

        695        708,900   

Cenovus Energy, Inc.:

       

5.70%, 10/15/19

        44        46,806   

5.20%, 9/15/43

        20        18,198   

Cheniere Corpus Christi Holdings LLC, 7.00%, 6/30/24 (e)(g)

        973        1,036,245   

Chesapeake Energy Corp.:

       

6.50%, 8/15/17

        40        41,075   

7.25%, 12/15/18

        55        57,131   

4.13%, 4/15/19 (d)

        496        468,720   

6.63%, 8/15/20

        238        230,265   

6.88%, 11/15/20

        215        201,025   

4.88%, 4/15/22

        75        63,938   

8.00%, 12/15/22 (e)

        320        331,200   

5.50%, 9/15/26 (e)(i)

        269        284,467   

Concho Resources, Inc., 5.50%, 4/01/23

        50        51,408   

ConocoPhillips Co., 4.20%, 3/15/21 (g)

        290        307,731   

CONSOL Energy, Inc.:

       

5.88%, 4/15/22 (g)

        3,140        3,014,400   

8.00%, 4/01/23

        19        19,380   

Continental Resources, Inc.:

       

5.00%, 9/15/22

        82        81,795   

4.50%, 4/15/23

        167        162,408   

3.80%, 6/01/24 (g)

        395        365,375   
 

 

                
12    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Oil, Gas & Consumable Fuels (continued)

  

Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.:

       

6.00%, 12/15/20

      USD        35      $ 35,613   

6.25%, 4/01/23

        35        35,525   

CrownRock LP/CrownRock Finance, Inc. (e):

       

7.13%, 4/15/21 (g)

        925        959,687   

7.75%, 2/15/23

        145        154,425   

DCP Midstream LLC (e):

       

4.75%, 9/30/21

        80        81,200   

6.45%, 11/03/36

        197        194,045   

6.75%, 9/15/37

        237        237,592   

Denbury Resources, Inc.:

       

9.00%, 5/15/21 (e)(g)

        578        599,675   

5.50%, 5/01/22

        96        78,480   

4.63%, 7/15/23

        40        30,800   

Encana Corp. (g):

       

3.90%, 11/15/21

        72        71,169   

5.15%, 11/15/41

        193        167,696   

Energy Transfer Equity LP (g):

       

7.50%, 10/15/20

        703        785,602   

5.88%, 1/15/24

        452        463,300   

5.50%, 6/01/27

        500        487,500   

EP Energy LLC/Everest Acquisition Finance, Inc., 8.00%, 11/29/24 (e)

        146        150,380   

Extraction Oil & Gas Holdings LLC/Extraction Finance Corp., 7.88%, 7/15/21 (e)

        451        474,677   

Gazprom OAO Via Gaz Capital SA, 4.95%, 7/19/22 (e)

        411        416,137   

Genesis Energy LP/Genesis Energy Finance Corp.:

       

6.00%, 5/15/23

        32        32,000   

5.63%, 6/15/24

        83        80,925   

GNL Quintero SA:

       

4.63%, 7/31/29 (e)(g)

        462        456,225   

4.63%, 7/31/29

        240        237,000   

Great Western Petroleum LLC/Great Western Finance, Inc., 9.00%, 9/30/21 (e)

        715        743,600   

Gulfport Energy Corp.:

       

6.63%, 5/01/23

        74        77,330   

6.00%, 10/15/24 (e)

        498        506,715   

Halcon Resources Corp., 8.63%, 2/01/20 (e)

        140        143,570   

Hess Corp., 4.30%, 4/01/27

        50        47,442   

Hilcorp Energy I LP/Hilcorp Finance Co. (e):

       

5.00%, 12/01/24 (g)

        377        380,770   

5.75%, 10/01/25

        2        2,030   
Corporate Bonds   

Par

(000)

     Value  

Oil, Gas & Consumable Fuels (continued)

  

Matador Resources Co., 6.88%, 4/15/23

      USD        390      $ 413,400   

MEG Energy Corp. (e):

       

6.50%, 3/15/21 (g)

        384        345,600   

6.38%, 1/30/23

        30        26,475   

7.00%, 3/31/24 (g)

        1,429        1,246,802   

Murphy Oil Corp., 6.88%, 8/15/24 (g)

        260        273,650   

NGPL PipeCo LLC (e):

       

7.12%, 12/15/17 (g)

        2,353        2,441,237   

9.63%, 6/01/19

        353        368,885   

7.77%, 12/15/37

        339        354,255   

Oasis Petroleum, Inc.:

       

6.50%, 11/01/21

        407        411,070   

6.88%, 3/15/22 (g)

        205        211,150   

6.88%, 1/15/23

        105        107,625   

ONEOK, Inc.:

       

4.25%, 2/01/22

        70        68,425   

7.50%, 9/01/23

        315        356,542   

Paramount Resources Ltd., 6.88%, 6/30/23 (e)

        800        842,000   

Parsley Energy LLC/Parsley Finance Corp. (e):

       

7.50%, 2/15/22 (g)

        546        578,760   

6.25%, 6/01/24

        186        192,510   

PDC Energy, Inc.:

       

7.75%, 10/15/22

        203        214,165   

6.13%, 9/15/24 (e)

        180        184,500   

Petrobras Argentina SA, 7.38%, 7/21/23 (e)(g)

        767        746,866   

Petrobras Global Finance BV:

       

3.00%, 1/15/19

        566        551,850   

3.02%, 1/15/19 (d)

        400        389,200   

8.38%, 5/23/21 (g)

        867        929,857   

8.75%, 5/23/26

        168        180,264   

6.85%, 6/05/49 (g)

        1,041        818,486   

Petrobras International Finance Co., 7.88%, 3/15/19

        566        608,450   

Petroleos Mexicanos, 4.63%, 9/21/23 (e)

        265        248,700   

QEP Resources, Inc.:

       

6.88%, 3/01/21

        74        76,220   

5.25%, 5/01/23

        35        33,950   

Range Resources Corp. (e):

       

5.75%, 6/01/21

        161        162,610   

5.88%, 7/01/22 (g)

        470        472,350   

5.00%, 3/15/23

        245        235,200   

Resolute Energy Corp., 8.50%, 5/01/20

        237        237,592   

Rockies Express Pipeline LLC (e):

       

6.85%, 7/15/18

        183        192,150   

6.00%, 1/15/19

        20        20,800   

5.63%, 4/15/20 (g)

        550        570,625   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    13

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Oil, Gas & Consumable Fuels (continued)

  

Rockies Express Pipeline LLC (e) (continued):

  

6.88%, 4/15/40

      USD        475      $ 482,125   

RSP Permian, Inc., 6.63%, 10/01/22

        291        305,550   

Sabine Pass Liquefaction LLC:

       

5.63%, 2/01/21

        245        259,700   

6.25%, 3/15/22

        100        107,750   

5.63%, 4/15/23 (g)

        1,726        1,803,670   

5.75%, 5/15/24 (g)

        584        616,120   

5.63%, 3/01/25 (g)

        252        262,710   

5.88%, 6/30/26 (e)

        354        373,912   

5.00%, 3/15/27 (e)

        160        158,000   

Sanchez Energy Corp.:

       

7.75%, 6/15/21

        50        47,500   

6.13%, 1/15/23 (g)

        1,351        1,182,125   

Seven Generations Energy Ltd. (e):

       

8.25%, 5/15/20 (g)

        119        126,586   

6.75%, 5/01/23

        222        233,378   

SM Energy Co.:

       

6.50%, 11/15/21

        85        86,063   

6.13%, 11/15/22 (g)

        18        18,045   

5.00%, 1/15/24

        10        9,425   

5.63%, 6/01/25

        425        408,000   

6.75%, 9/15/26

        139        142,823   

Southwestern Energy Co.:

       

7.50%, 2/01/18

        38        39,710   

5.80%, 1/23/20

        546        556,920   

4.10%, 3/15/22

        198        182,160   

6.70%, 1/23/25

        55        54,450   

Sunoco Logistics Partners Operations LP, 3.90%, 7/15/26 (g)

        235        223,772   

Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. (e):

       

5.50%, 9/15/24

        412        407,880   

5.13%, 2/01/25

        79        77,964   

5.38%, 2/01/27

        49        48,388   

Targa Resources Partners LP/Targa Resources Partners Finance Corp.:

       

6.38%, 8/01/22

        85        87,550   

5.25%, 5/01/23

        15        14,925   

6.75%, 3/15/24

        73        77,380   

Tesoro Logistics LP/Tesoro Logistics Finance Corp.:

       

5.88%, 10/01/20 (g)

        138        142,471   

6.13%, 10/15/21

        39        40,804   

Weatherford International LLC, 6.80%, 6/15/37

        27        21,330   

Weatherford International Ltd.:

       

6.50%, 8/01/36

        75        57,750   
Corporate Bonds   

Par

(000)

     Value  

Oil, Gas & Consumable Fuels (continued)

  

Weatherford International Ltd. (continued):

  

5.95%, 4/15/42

      USD        186      $ 137,677   

Whiting Petroleum Corp.:

       

5.00%, 3/15/19

        74        73,075   

1.25%, 6/05/20 (i)

        675        873,592   

5.75%, 3/15/21 (i)

        400        546,453   

5.75%, 3/15/21

        177        174,345   

6.25%, 4/01/23 (i)

        177        239,776   

Williams Cos., Inc.:

       

3.70%, 1/15/23

        58        54,665   

4.55%, 6/24/24

        332        323,700   

5.75%, 6/24/44

        634        599,130   

WPX Energy, Inc.:

       

5.25%, 1/15/17

        40        40,050   

7.50%, 8/01/20

        70        73,850   

6.00%, 1/15/22

        515        527,715   

8.25%, 8/01/23

        190        209,475   

5.25%, 9/15/24

        225        219,094   

YPF SA:

       

8.50%, 3/23/21 (e)

        168        177,295   

8.50%, 7/28/25

        83        84,428   
      

 

 

  
                       44,732,710   

Paper & Forest Products — 0.0%

       

Unifrax I LLC/Unifrax Holding Co., 7.50%, 2/15/19 (e)

              260        248,300   

Pharmaceuticals — 1.9%

       

AbbVie, Inc., 3.60%, 5/14/25 (g)

        695        686,683   

Actavis Funding SCS, 3.45%, 3/15/22 (g)

        2,460        2,495,483   

Capsugel SA, (7.00% Cash or 7.75% PIK), 7.00%, 5/15/19 (e)(h)

        121        121,050   

DPx Holdings BV, 7.50%, 2/01/22 (e)

        110        115,500   

Endo Finance LLC/Endo Finco, Inc. (e):

       

7.25%, 1/15/22

        121        115,706   

6.00%, 7/15/23 (g)

        433        385,370   

Ephios Bondco PLC, 6.25%, 7/01/22

      EUR        100        114,199   

Grifols Worldwide Operations Ltd., 5.25%, 4/01/22 (g)

      USD        479        493,370   

inVentiv Group Holdings, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc., 7.50%, 10/01/24 (e)

        278        281,475   

Jaguar Holding Co. II/Pharmaceutical Product Development LLC, 6.38%, 8/01/23 (e)(g)

        1,179        1,214,464   

NBTY, Inc., 7.63%, 5/15/21 (e)

        760        749,550   
 

 

                
14    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds   

Par

(000)

     Value  

Pharmaceuticals (continued)

  

Shire Acquisitions Investments Ireland DAC,
2.88%, 9/23/23

      USD        1,500      $ 1,430,274   

Teva Pharmaceutical Finance Netherlands III BV, 2.80%, 7/21/23 (g)

        775        730,410   

Valeant Pharmaceuticals International, Inc. (e):

       

6.75%, 8/15/18

        1,044        989,190   

5.38%, 3/15/20

        594        498,960   

6.38%, 10/15/20

        584        496,400   

7.50%, 7/15/21

        335        283,075   

5.63%, 12/01/21

        341        262,570   

5.50%, 3/01/23

        16        11,760   

5.88%, 5/15/23

        301        224,245   

6.13%, 4/15/25

        400        296,000   
      

 

 

  
                       11,995,734   

Real Estate — 0.0%

       

Prologis LP, 3.75%, 11/01/25 (g)

              255        262,449   

Real Estate Investment Trusts (REITs) — 0.8%

       

AvalonBay Communities, Inc., 3.45%, 6/01/25 (g)

        1,245        1,242,465   

ERP Operating LP, 3.38%, 6/01/25 (g)

        1,015        1,011,950   

Hilton Domestic Operating Co., Inc.,
4.25%, 9/01/24 (e)

        179        175,420   

iStar, Inc., 4.00%, 11/01/17

        250        250,625   

MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., 4.50%, 9/01/26 (e)

        321        307,358   

Ventas Realty LP, 4.13%, 1/15/26 (g)

        650        665,689   

Ventas Realty LP/Ventas Capital Corp.,
4.75%, 6/01/21 (g)

        1,300        1,403,698   
      

 

 

  
                       5,057,205   

Real Estate Management & Development — 0.4%

       

Realogy Group LLC/Realogy Co-Issuer Corp. (e):

       

4.50%, 4/15/19 (g)

        301        308,525   

5.25%, 12/01/21

        264        269,940   

4.88%, 6/01/23

        1,613        1,548,480   

Rialto Holdings LLC/Rialto Corp.,
7.00%, 12/01/18 (e)

        220        222,750   
      

 

 

  
                       2,349,695   

Road & Rail — 1.1%

       

Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (e):

       

5.13%, 6/01/22

        205        197,825   

6.38%, 4/01/24

        30        29,775   

5.25%, 3/15/25 (g)

        930        857,925   
Corporate Bonds   

Par

(000)

     Value  

Road & Rail (continued)

  

Avis Budget Finance PLC, 4.13%, 11/15/24

      EUR        100      $ 102,276   

Florida East Coast Holdings Corp.,
6.75%, 5/01/19 (e)(g)

      USD        701        722,030   

Herc Rentals, Inc. (e):

       

7.50%, 6/01/22

        175        180,469   

7.75%, 6/01/24

        12        12,330   

Hertz Corp.:

       

6.75%, 4/15/19 (g)

        285        287,046   

5.88%, 10/15/20 (g)

        435        424,125   

7.38%, 1/15/21 (g)

        225        225,900   

5.50%, 10/15/24 (e)

        264        230,010   

Lima Metro Line 2 Finance Ltd.,
5.88%, 7/05/34 (e)(g)

        3,000        3,180,000   

Loxam SAS, 3.50%, 5/03/23

      EUR        100        104,660   

Watco Cos. LLC/Watco Finance Corp.,
6.38%, 4/01/23 (e)

      USD        319        326,975   
      

 

 

  
                       6,881,346   

Semiconductors & Semiconductor Equipment — 0.9%

  

  

Advanced Micro Devices, Inc., 7.50%, 8/15/22

        73        78,110   

Analog Devices, Inc.:

       

3.90%, 12/15/25 (g)

        375        385,205   

3.50%, 12/05/26

        275        273,256   

Applied Materials, Inc., 3.90%, 10/01/25 (g)

        285        299,470   

Micron Technology, Inc. (e):

       

5.25%, 8/01/23

        306        302,175   

5.63%, 1/15/26

        74        72,150   

Microsemi Corp., 9.13%, 4/15/23 (e)

        37        42,828   

NXP BV/NXP Funding LLC (e):

       

4.13%, 6/15/20 (g)

        834        867,360   

4.13%, 6/01/21

        200        208,500   

3.88%, 9/01/22

        200        205,000   

4.63%, 6/01/23 (g)

        425        448,375   

ON Semiconductor Corp., Series B, 2.63%, 12/15/26 (i)

        250        280,156   

QUALCOMM, Inc., 3.45%, 5/20/25 (g)

        1,570        1,598,219   

Sensata Technologies BV, 5.00%, 10/01/25 (e)(g)

        332        327,020   
      

 

 

  
                       5,387,824   

Software — 1.2%

       

ACI Worldwide, Inc., 6.38%, 8/15/20 (e)

        360        369,000   

BMC Software Finance, Inc., 8.13%, 7/15/21 (e)

        1,180        1,062,000   

Ensemble S Merger Sub, Inc., 9.00%, 9/30/23 (e)

        303        318,908   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    15

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds    

Par

(000)

     Value  

Software (continued)

       

Inception Merger Sub, Inc./Rackspace Hosting, Inc., 8.63%, 11/15/24 (e)

      USD        667      $ 667,000   

Infinity Acquisition LLC/Infinity Acquisition Finance Corp., 7.25%, 8/01/22 (e)

        46        39,675   

Infor Software Parent LLC/Infor Software Parent, Inc., (7.13% Cash or 7.88% PIK),
7.13%, 5/01/21 (e)(g)(h)

        545        546,362   

Infor US, Inc., 6.50%, 5/15/22 (g)

        1,089        1,118,947   

Informatica LLC, 7.13%, 7/15/23 (e)

        592        559,440   

JDA Escrow LLC/JDA Bond Finance, Inc.,
7.38%, 10/15/24 (e)

        311        319,164   

Nuance Communications, Inc. (e):

       

5.38%, 8/15/20 (g)

        85        86,913   

6.00%, 7/01/24

        160        164,400   

PTC, Inc., 6.00%, 5/15/24

        106        111,565   

Solera LLC/Solera Finance, Inc.,
10.50%, 3/01/24 (e)(g)

        1,092        1,206,660   

SS&C Technologies Holdings, Inc.,
5.88%, 7/15/23 (g)

        600        612,000   

TIBCO Software, Inc., 11.38%, 12/01/21 (e)

        354        338,955   

Veritas US, Inc./Veritas Bermuda Ltd., 7.50%, 2/01/23

      EUR        100        97,506   
      

 

 

  
                       7,618,495   

Specialty Retail — 0.5%

  

Asbury Automotive Group, Inc., 6.00%, 12/15/24 (g)

      USD        660        664,950   

Group 1 Automotive, Inc., 5.00%, 6/01/22 (g)

        550        536,250   

JC Penney Corp., Inc.:

       

6.38%, 10/15/36

        112        91,280   

7.40%, 4/01/37

        231        204,435   

L Brands, Inc., 6.88%, 11/01/35 (g)

        461        461,000   

Penske Automotive Group, Inc.:

       

5.38%, 12/01/24 (g)

        551        541,357   

5.50%, 5/15/26

        190        183,128   

Sally Holdings LLC/Sally Capital, Inc.,
5.50%, 11/01/23

        243        252,720   
      

 

 

  
                       2,935,120   

Technology Hardware, Storage & Peripherals — 0.3%

  

Diamond 1 Finance Corp./Diamond 2 Finance Corp. (e):

       

4.42%, 6/15/21 (g)

        130        133,769   

7.13%, 6/15/24

        461        503,628   

6.02%, 6/15/26 (g)

        135        142,022   
Corporate Bonds    

Par

(000)

     Value  

Technology Hardware, Storage & Peripherals (continued)

  

  

Diamond 1 Finance Corp./Diamond 2 Finance Corp. (e) (continued):

       

8.35%, 7/15/46 (g)

      USD        130      $ 152,437   

Hewlett Packard Enterprise Co.,
5.15%, 10/15/25 (e)(g)

        375        383,601   

Western Digital Corp., 7.38%, 4/01/23 (e)(g)

        444        479,520   
      

 

 

  
                       1,794,977   

Textiles, Apparel & Luxury Goods — 0.0%

  

BiSoho SAS, 5.88%, 5/01/23

      EUR        100        112,998   

Thrifts & Mortgage Finance — 0.1%

       

Jerrold Finco PLC, 6.25%, 9/15/21

      GBP        100        124,970   

MGIC Investment Corp., 5.75%, 8/15/23

      USD        163        169,112   

Radian Group, Inc., 5.25%, 6/15/20 (g)

        355        365,650   
      

 

 

  
                       659,732   

Tobacco — 0.1%

  

Reynolds American, Inc., 3.25%, 6/12/20 (g)

              396        407,180   

Trading Companies & Distributors — 0.0%

       

Ashtead Capital, Inc., 5.63%, 10/01/24 (e)(g)

              220        228,800   

Transportation Infrastructure — 1.2%

       

CEVA Group PLC, 7.00%, 3/01/21 (e)

        460        372,600   

Jack Cooper Enterprises, Inc., (10.50% Cash or 11.25% PIK), 10.50%, 3/15/19 (e)(h)

        1,022        112,436   

Penske Truck Leasing Co. LP/PTL Finance Corp., 3.38%, 3/15/18 (e)(g)

        6,155        6,270,769   

Transurban Finance Co., 4.13%, 2/02/26 (e)(g)

        435        440,777   
      

 

 

  
                       7,196,582   

Utilities — 0.2%

  

AES Panama SRL, 6.00%, 6/25/22 (e)

        250        256,250   

ContourGlobal Power Holdings SA, 5.13%, 6/15/21

      EUR        100        110,193   

Generacion Mediterranea SA/Generacion Frias SA/Central Termica Roca SA, 9.63%, 7/27/23 (e)

      USD        831        855,930   
      

 

 

  
                       1,222,373   

 

 

 

                
16    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Corporate Bonds    

Par

(000)

     Value  

Wireless Telecommunication Services — 2.3%

  

    

Communications Sales & Leasing, Inc./CSL Capital LLC:

       

6.00%, 4/15/23 (e)

      USD        69      $ 71,588   

8.25%, 10/15/23 (g)

        975        1,023,750   

Digicel Ltd., 6.00%, 4/15/21 (e)(g)

        2,608        2,265,387   

GEO Group, Inc.:

       

5.88%, 1/15/22

        50        49,875   

5.13%, 4/01/23

        340        321,300   

6.00%, 4/15/26

        64        61,440   

Matterhorn Telecom SA, 3.88%, 5/01/22

      EUR        100        106,473   

Rogers Communications, Inc.,
5.00%, 3/15/44 (g)

      USD        545        574,528   

Sprint Capital Corp.:

       

6.90%, 5/01/19

        135        140,737   

6.88%, 11/15/28 (g)

        1,409        1,355,317   

Sprint Communications, Inc. (g):

       

9.00%, 11/15/18 (e)

        1,579        1,734,926   

7.00%, 8/15/20

        455        472,062   

Sprint Corp.:

       

7.25%, 9/15/21

        105        107,625   

7.88%, 9/15/23

        1,100        1,135,750   

7.13%, 6/15/24 (g)

        1,733        1,723,261   

Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, 3.36%, 3/20/23 (e)

        933        935,332   

T-Mobile USA, Inc.:

       

6.63%, 4/28/21 (g)

        228        237,975   

6.13%, 1/15/22

        75        78,531   

6.73%, 4/28/22

        173        180,759   

6.00%, 3/01/23 (g)

        513        537,367   

6.84%, 4/28/23

        55        58,369   

6.50%, 1/15/24 (g)

        535        571,610   

6.38%, 3/01/25

        14        14,963   

6.50%, 1/15/26 (g)

        53        57,240   

Wind Acquisition Finance SA, 4.00%, 7/15/20

      EUR        195        209,254   
      

 

 

  
        14,025,419   
Total Corporate Bonds — 60.7%        375,331,605   
 
           
Floating Rate Loan Interests (d)                      

Aerospace & Defense — 0.6%

       

BE Aerospace, Inc., 2014 Term Loan B,
3.86%, 12/16/21

      USD        618        619,135   

Camp International Holding Co.:

       

2016 1st Lien Term Loan, 4.75%, 8/11/23

        300        299,814   

2016 2nd Lien Term Loan, 8.25%, 8/12/24

        140        142,747   

Floating Rate Loan Interests (d)

    

Par

(000)

     Value  

Aerospace & Defense (continued)

       

Engility Corp.:

       

Term Loan B1, 4.86%, 8/12/20

      USD        115      $ 116,006   

Term Loan B2, 5.77%, 8/12/23

        216        218,635   

TransDigm, Inc.:

       

2015 Term Loan E, 3.75%, 5/14/22

        636        637,795   

2016 Extended Term Loan F,
3.75%, 6/09/23

        1,446        1,449,142   

Term Loan D, 3.83%, 6/04/21

        335        335,732   
      

 

 

  
                       3,819,006   

Air Freight & Logistics — 0.2%

  

CEVA Group PLC, Synthetic LOC, 6.50%, 3/19/21

        236        187,600   

CEVA Intercompany BV, Dutch Term Loan, 6.50%, 3/19/21

        242        192,687   

CEVA Logistics Canada ULC, Canadian Term Loan, 6.50%, 3/19/21

        47        37,062   

CEVA Logistics US Holdings, Inc., Term Loan, 6.50%, 3/19/21

        322        256,364   

XPO Logistics, Inc., Term Loan B2,
4.25%, 10/30/21

        811        818,943   
      

 

 

  
                       1,492,656   

Airlines — 0.1%

  

Northwest Airlines, Inc.:

       

3.08%, 3/10/17

        76        74,940   

2.46%, 9/10/18

        276        270,825   
      

 

 

  
                       345,765   

Auto Components — 0.5%

  

Anchor Glass Container Corp.:

       

2016 1st Lien Term Loan,
4.25%, 12/01/23

        165        165,723   

2016 2nd Lien Term Loan,
4.25%, 12/02/24

        175        177,188   

Autoparts Holdings Ltd.:

       

1st Lien Term Loan, 7.00%, 7/29/17

        876        865,697   

2nd Lien Term Loan, 11.00%, 1/29/18

        480        432,749   

Gates Global, Inc., Term Loan B, 4.25%, 7/06/21

  

     1,343        1,335,210   
      

 

 

  
                       2,976,567   

Automobiles — 0.2%

  

FCA US LLC, Term Loan B:

       

2018, 3.25%, 12/31/18

        758        758,756   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    17

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)    

Par

(000)

     Value  

Automobiles (continued)

       

FCA US LLC, Term Loan B (continued):

       

3.50%, 5/24/17

      USD        300      $ 300,234   
      

 

 

  
                       1,058,990   

Building Materials — 0.3%

  

Forterra ,Inc., Term Loan B, 6.00%, 10/18/23

  

     142        141,893   

USAGM HoldCo LLC:

       

2015 2nd Lien Term Loan, 9.50%, 7/28/23

        290        290,000   

2015 Term Loan, 4.75%, 7/28/22

        351        350,572   

2016 Incremental Term Loan, 5.50%, 7/28/22

        888        893,910   

Amendment Delayed Draw Term Loan, 5.50%,

        90        90,101   
      

 

 

  
                       1,766,476   

Building Products — 0.9%

  

Continental Building Products LLC, 1st Lien Term Loan, 3.59%, 8/10/23

        598        596,689   

CPG International, Inc., Term Loan,
4.75%, 9/30/20

        1,270        1,274,998   

GYP Holdings III Corp., 1st Lien Term Loan, 4.50%, 4/01/21

        708        707,958   

Jeld-Wen, Inc., Consolidated Term Loan B,
4.75%, 7/01/22

        670        675,782   

Ply Gem Industries, Inc., Term Loan, 4.00%, 2/01/21

        388        390,259   

Quikrete Holdings, Inc., 2016 1st Lien Term Loan, 4.00%, 11/15/23

        970        972,182   

Wilsonart LLC, Term Loan B, 4.00%, 10/31/19

        660        660,672   
      

 

 

  
                       5,278,540   

Capital Markets — 0.2%

  

Affinion Group, Inc., Term Loan B, 6.75%, 4/30/18

  

     214        209,074   

RPI Finance Trust, Term Loan B5, 3.18%, 10/14/22

  

     920        927,609   
      

 

 

  
                       1,136,683   

Chemicals — 1.1%

  

Allnex (Luxembourg) & Cy SCA, 2016 Term Loan B2,
5.13%, 9/13/23

   

     183        183,796   

Allnex USA, Inc., Term Loan B3, 5.13%, 9/13/23

  

     137        138,470   
Floating Rate Loan Interests (d)    

Par

(000)

     Value  

Chemicals (continued)

       

Axalta Coating Systems US Holdings, Inc., Term Loan, 3.75%, 2/01/20

      USD        556      $ 558,308   

Chemours Co., Term Loan B,
3.75%, 5/12/22

        85        83,692   

Evergreen Acqco 1 LP, Term Loan, 5.00%, 7/09/19

        47        43,108   

Huntsman International LLC, Term Loan B2, 3.75%, 4/01/23

        751        754,555   

MacDermid, Inc.:

       

2016 Term Loan, 5.00%, 6/07/23

        608        613,526   

Term Loan B3, 5.50%, 6/07/20

        798        799,009   

OXEA Finance LLC, Term Loan B2, 4.25%, 1/15/20

        1,052        1,001,897   

PQ Corporation, 2016 Term Loan,
5.25%, 11/04/22

        616        621,078   

Royal Holdings, Inc.:

       

2015 1st Lien Term Loan, 4.50%, 6/19/22

        459        460,986   

2015 2nd Lien Term Loan,
8.50%, 6/19/23

        185        182,919   

Solenis International LP:

       

1st Lien Term Loan, 4.25%, 7/31/21

        510        507,974   

2nd Lien Term Loan, 7.75%, 7/31/22

        600        582,750   

Tata Chemicals North America, Inc., Term Loan B, 3.75%, 8/07/20

        519        517,548   
      

 

 

  
                       7,049,616   

Commercial Services & Supplies — 1.9%

  

ADMI Corp., 2015 Term Loan B, 5.25%, 4/30/22

        184        184,988   

Advanced Disposal Services Inc., Term Loan B3, 3.50%, 11/10/23

        1,059        1,058,249   

Aramark Services, Inc.:

       

Term Loan E, 3.28%, 9/07/19

        494        497,299   

Term Loan F, 3.34%, 2/24/21

        454        457,724   

Asurion LLC, Term Loan B5, 4.75%, 11/03/23

        935        941,012   

Brand Energy & Infrastructure Services, Inc., Term Loan B, 4.75%, 11/26/20

        1,088        1,070,824   

Camelot UK Holdco Ltd., Term Loan B,
4.75%, 10/03/23

        665        666,164   

Catalent Pharma Solutions, Inc., Term Loan B, 4.25%, 5/20/21

        1,374        1,376,811   

Dealer Tire LLC, 2016 Term Loan B,
4.75%, 12/22/21

        230        232,589   
 

 

                
18    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)    

Par

(000)

     Value  

Commercial Services & Supplies (continued)

  

    

Employbridge LLC, Exit Term Loan,
7.50%, 5/16/20

      USD        162      $ 145,866   

GCA Services Group, Inc., 2016 Term Loan, 5.98%, 3/01/23

        572        577,131   

KAR Auction Services, Inc., Term Loan B3, 4.38%, 3/09/23

        433        437,828   

Livingston International, Inc., 1st Lien Term Loan, 5.50%, 4/18/19

        330        314,721   

Prime Security Services Borrower LLC:

       

1st Lien Term Loan, 4.75%, 7/01/21

        80        80,310   

2016 Incremental Term Loan B1,
4.75%, 5/02/22

        918        923,931   

PSSI Holdings LLC, Term Loan B,
4.75%, 12/02/21

        618        620,163   

Spin Holdco, Inc., Term Loan B,
4.25%, 11/14/19

        851        841,606   

TruGreen Limited Partnership, 1st Lien Term Loan B, 6.50%, 4/13/23

        339        341,694   

US Security Associates Holdings, Inc., 2016 Term Loan, 6.00%, 7/14/23

        605        605,000   

Waste Industries USA, Inc., 2016 Term Loan, 3.50%, 2/27/20

        682        683,002   
      

 

 

  
                       12,056,912   

Communications Equipment — 0.6%

  

Applied Systems, Inc.:

       

1st Lien Term Loan, 4.00%, 1/25/21

        300        300,724   

2nd Lien Term Loan, 7.50%, 1/24/22

        262        264,480   

Avaya, Inc., Term Loan B7, 6.25%, 5/29/20

        241        208,681   

Checkout Holding Corp., 1st Lien Term Loan,
4.50%, 4/09/21

        55        45,985   

CommScope, Inc., Term Loan B5,
3.25%, 12/29/22

        360        363,150   

Riverbed Technology, Inc., 2016 Term Loan, 5.00%, 4/24/22

        687        692,780   

Zayo Group LLC, Term Loan B,
3.75%, 5/06/21

        1,820        1,825,475   
      

 

 

  
                       3,701,275   

Construction & Engineering — 0.3%

  

CNT Holdings III Corp., Term Loan B, 5.25%, 1/22/23

        572        576,656   
Floating Rate Loan Interests (d)    

Par

(000)

     Value  

Construction & Engineering (continued)

       

Safway Group Holding LLC, Term Loan B, 5.75%, 8/19/23

      USD        1,030      $ 1,035,150   
      

 

 

  
                       1,611,806   

Construction Materials — 0.2%

  

Filtration Group Corp.:

       

1st Lien Term Loan, 4.25%, 11/21/20

        917        918,532   

Delayed Draw Term Loan,
4.25%, 11/21/20

        281        279,370   
      

 

 

  
                       1,197,902   

Containers & Packaging — 0.6%

  

Ardagh Holdings USA, Inc., Incremental Term Loan, 4.00%, 12/17/21

        900        908,443   

Berlin Packaging LLC, 2014 1st Lien Term Loan, 4.50%, 10/01/21

        140        140,675   

Berry Plastics Holding Corp., Term Loan H, 3.75%, 10/01/22

        1,325        1,332,643   

BWAY Holding Co., Inc., Term Loan B,
5.50%, 8/14/20

        1,176        1,176,814   

Prolampac Intermediate Inc., 2016 1st Lien Term Loan, 5.00%, 11/18/23

        170        170,991   
      

 

 

  
                       3,729,566   

Distributors — 0.1%

  

American Builders & Contractors Supply Co., Term Loan B, 3.50%, 10/31/23

        546        548,417   

American Tire Distributors Holdings, Inc., 2015 Term Loan, 5.25%, 9/01/21

        222        217,840   
      

 

 

  
                       766,257   

Diversified Consumer Services — 0.8%

  

Bright Horizons Family Solutions, Inc., 2016 Term Loan B, 3.50%, 11/30/23

        1,186        1,188,383   

Laureate Education, Inc., Term Loan B, 8.87%, 3/17/21

        82        80,885   

Serta Simmons Holdings LLC:

       

1st Lien Term Loan, 4.50%, 11/08/23

        1,335        1,330,835   

2nd Lien Term Loan, 9.00%, 10/21/24

        470        467,650   

ServiceMaster Company, 2016 Term Loan B, 3.11%, 11/03/23

        1,815        1,810,844   

 

 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    19

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)    

Par

(000)

     Value  

Diversified Consumer Services (continued)

       

Weight Watchers International, Inc., Term Loan B2, 4.07%, 4/02/20

      USD        325      $ 247,652   
      

 

 

  
                       5,126,249   

Diversified Financial Services — 0.1%

  

AlixPartners LLP, 2016 Term Loan B,
4.00%, 7/28/22

        597        598,657   

SAM Finance Luxembourg Sarl, Term Loan,
4.25%, 12/17/20

        161        161,431   
      

 

 

  
                       760,088   

Diversified Telecommunication Services — 1.3%

  

Consolidated Communications, Inc., 2016 Term Loan B, 4.00%, 10/04/23

        290        291,934   

Hawaiian Telcom Communications, Inc., Term Loan B, 5.25%, 6/06/19

        698        701,531   

Integra Telecom, Inc.:

       

2015 1st Lien Term Loan, 5.25%, 8/14/20

        838        838,515   

2nd Lien Term Loan, 9.75%, 2/12/21

        360        346,076   

Level 3 Financing, Inc.:

       

2013 Term Loan B, 4.00%, 1/15/20

        3,040        3,062,800   

2019 Term Loan, 4.00%, 8/01/19

        1,034        1,043,889   

Telenet International Finance Sarl, Term Loan AF, 4.36%, 1/31/25

        1,255        1,252,490   

Telesat Canada, Term Loan B, 4.50%, 11/07/23

        499        499,414   
      

 

 

  
                       8,036,649   

Electric Utilities — 0.5%

  

Energy Future Intermediate Holding Co. LLC, 2016 DIP Term Loan, 4.25%, 6/30/17

        2,064        2,074,190   

TEX Operations Co. LLC:

       

Exit Term Loan B, 5.00%, 8/04/23

        819        826,721   

Exit Term Loan C, 5.00%, 8/04/23

        187        188,613   

Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc., 5.03%, 11/10/17 (a)(e)

        780        15,600   
      

 

 

  
                       3,105,124   

Energy Equipment & Services — 0.1%

  

Exgen Texas Power LLC, Term Loan B, 5.75%, 9/16/21

  

     374        283,416   
Floating Rate Loan Interests (d)    

Par

(000)

     Value  

Energy Equipment & Services (continued)

       

Weatherford International Ltd., Term Loan,
2.91%, 7/13/20

      USD        646      $ 612,518   
      

 

 

  
                       895,934   

Food & Staples Retailing — 1.0%

  

Albertsons LLC:

       

2016 Term Loan B4, 4.50%, 8/25/21

        1,473        1,474,190   

2016 Term Loan B5, 4.75%, 12/21/22

        109        108,911   

Genoa, a QoL Healthcare Co. LLC, 2016 1st Lien Term Loan, 4.75%, 10/28/23

        160        159,400   

Hostess Brands LLC, 2016 1st Lien Term Loan, 4.00%, 8/03/22

        1,204        1,211,423   

Rite Aid Corp.:

       

5.75%, 8/21/20

        240        240,751   

4.88%, 6/21/21

        815        819,075   

US Foods, Inc., 2016 Term Loan B, 4.00%, 6/27/23

        2,020        2,030,765   
      

 

 

  
                       6,044,515   

Food Products — 0.9%

  

Blue Ribbon LLC, Term Loan, 5.00%, 11/13/21

  

     568        550,508   

Chobani LLC, 1st Lien Term Loan, 5.25%, 10/07/23

  

     490        495,209   

Dole Food Co., Inc., Term Loan B, 4.56%, 11/01/18

  

     695        696,574   

Pinnacle Foods Finance LLC:

       

2016 Term Loan I, 3.33%, 1/13/23

        242        244,194   

Term Loan G, 3.39%, 4/29/20

        438        439,512   

Reddy Ice Corp.:

       

1st Lien Term Loan, 6.75%, 5/01/19

        647        610,063   

2nd Lien Term Loan, 10.75%, 11/01/19

        233        192,614   

Reynolds Group Holdings, Inc., 2016 Term Loan,
4.25%, 2/05/23

        2,030        2,039,480   
      

 

 

  
                       5,268,154   

Health Care Equipment & Supplies — 1.2%

  

Alere, Inc.:

       

2015 Term Loan A, 3.61%, 6/18/20

        368        363,551   

2015 Term Loan B, 4.25%, 6/18/22

        486        481,200   

Auris Luxembourg III Sarl, Term Loan B4, 4.25%, 1/15/22

        1,042        1,046,477   

Capsugel Holdings US, Inc., Term Loan B,
4.00%, 7/31/21

        1,252        1,253,941   
 

 

                
20    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)           Par
(000)		     Value  

Health Care Equipment & Supplies (continued)

       

Cotiviti Corp., Term Loan B, 3.61%, 9/28/23

      USD        894      $ 893,013   

DJO Finance LLC, 2015 Term Loan, 4.25%, 6/08/20

        854        818,118   

Immucor, Inc., Refinancing Term Loan B2, 5.00%, 8/17/18

        765        744,119   

National Vision, Inc., 1st Lien Term Loan, 4.00%, 3/12/21

        1,175        1,165,326   

Ortho-Clinical Diagnostics, Inc., Term Loan B, 4.75%, 6/30/21

        609        595,956   
      

 

 

  
                       7,361,701   

Health Care Providers & Services — 3.1%

       

Acadia Healthcare Co., Inc.:

       

Term Loan B, 3.75%, 2/11/22

        234        233,470   

Term Loan B2, 3.75%, 2/16/23

        645        646,738   

Amsurg Corp., 1st Lien Term Loan B, 5.25%, 7/16/21

        1,143        1,143,189   

CHG Healthcare Services, Inc., 2016 Term Loan B, 4.75%, 6/07/23

        980        984,485   

Community Health Systems, Inc.:

       

Term Loan F, 4.16%, 12/31/18

        703        680,758   

Term Loan G, 3.75%, 12/31/19

        604        570,151   

Curo Health Services Holdings, Inc., 2015 1st Lien Term Loan, 6.50%, 2/07/22

        788        789,229   

DaVita HealthCare Partners, Inc., Term Loan B, 3.50%, 6/24/21

        967        969,086   

Envision Healthcare Corp., Term Loan:

       

2016 B, 3.75%, 11/09/23

        2,390        2,392,987   

5.75%, 5/25/18

        435        434,619   

B2, 6.00%, 10/28/22

        686        685,784   

HC Group Holdings III, Inc., Term Loan B, 6.00%, 4/07/22

        826        813,987   

HCA, Inc., Term Loan B6, 3.86%, 3/17/23

        1,391        1,402,205   

inVentiv Health, Inc., 2016 Term Loan B, 4.75%, 11/09/23

        1,080        1,082,365   

MPH Acquisition Holdings LLC, 2016 Term Loan B, 5.00%, 6/07/23

        1,124        1,136,652   

NVA Holdings, Inc.:

       

1st Lien Term Loan, 4.75%, 8/14/21

        119        118,885   

2016 Term Loan, 5.50%, 8/14/21

        234        234,756   
Floating Rate Loan Interests (d)          Par
(000)		     Value  

Health Care Providers & Services (continued)

      

Precyse Acquisition Corp., 2016 1st Lien Term Loan, 6.50%, 10/20/22

     USD        549      $ 552,400   

Sterigenics-Nordion Holdings LLC, 2015 Term Loan B, 4.25%, 5/15/22

       965        961,630   

Surgery Center Holdings, Inc., 1st Lien Term Loan, 4.75%, 11/03/20

       398        397,312   

Surgical Care Affiliates, Inc., Incremental Term Loan B, 3.75%, 3/17/22

       779        780,503   

Team Health, Inc., 2016 Term Loan, 3.84%, 11/23/22

       1,317        1,315,308   

U.S. Renal Care, Inc., 2015 Term Loan B, 5.25%, 12/31/22

       559        523,384   

Vizient, Inc., 2016 Term Loan B, 5.00%, 2/13/23

       572        576,909   
     

 

 

  
                      19,426,792   

Health Care Technology — 0.2%

      

IMS Health Incorporated, 2016 Term Loan B, 3.50%, 3/17/21

       368        370,079   

Press Ganey Holdings, Inc.:

      

1st Lien Term Loan, 4.25%, 10/21/23

       425        425,000   

2nd Lien Term Loan, 8.25%, 10/21/24

       215        217,687   
     

 

 

  
                      1,012,766   

Hotels, Restaurants & Leisure — 2.3%

      

Amaya Holdings BV:

      

1st Lien Term Loan, 5.00%, 8/01/21

       830        829,135   

2nd Lien Term Loan, 8.00%, 8/01/22

       246        243,755   

AMF Bowling Centers, Inc., 2016 Term Loan, 6.00%, 8/17/23

       508        504,825   

Boyd Gaming Corp.:

      

Term Loan B, 4.00%, 8/14/20

       292        293,841   

Term Loan B2, 3.53%, 9/15/23

       380        381,961   

Bronco Midstream Funding LLC, Term Loan B, 5.00%, 8/15/20

       1,062        1,041,172   

Burger King Newco Unlimited Liability Co., Term Loan B2, 3.75%, 12/10/21

       1,717        1,728,590   

Caesars Entertainment Operating Co., Inc., Term Loan B7, 11.75%, 3/01/17

       1,067        1,232,054   

Caesars Entertainment Resort Properties LLC, Term Loan B, 7.00%, 10/11/20

       2,571        2,585,153   
 

 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    21

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)           Par
(000)		     Value  

Hotels, Restaurants & Leisure (continued)

       

CCM Merger, Inc., Term Loan B, 4.00%, 8/08/21

      USD        647      $ 649,998   

Eldorado Resorts LLC, Term Loan B, 4.25%, 7/23/22

        965        969,621   

ESH Hospitality, Inc., 2016 Term Loan B, 3.75%, 8/30/23

        875        880,609   

Four Seasons Holdings Inc., Term Loan B, 3.75%, 11/21/23

        100        100,813   

Hilton Worldwide Finance LLC, Term Loan B1, 3.50%, 10/26/20

        43        42,888   

La Quinta Intermediate Holdings LLC, Term Loan B, 3.75%, 4/14/21

        240        238,648   

RHP Hotel Properties LP, Term Loan B, 3.59%, 1/15/21

        544        547,664   

Sabre, Inc.:

       

Incremental Term Loan, 4.50%, 2/19/19

        323        323,397   

Term Loan B, 4.00%, 2/19/19

        580        583,946   

Scientific Games International, Inc.:

       

2014 Term Loan B1, 6.00%, 10/18/20

        380        383,303   

2014 Term Loan B2, 5.83%, 10/01/21

        232        234,514   

Station Casinos LLC, 2016 Term Loan B, 3.75%, 6/08/23

        252        254,077   

Yum! Brands Inc., 1st Lien Term Loan B, 3.30%, 6/16/23

        449        452,964   
      

 

 

  
                       14,502,928   

Household Products — 0.1%

       

Bass Pro Group LLC, 2015 Term Loan,
4.00%, 6/05/20

        358        357,236   

Spectrum Brands, Inc., 2016 Term Loan,
3.36%, 6/23/22

        362        365,424   
      

 

 

  
                       722,660   

Independent Power and Renewable Electricity Producers — 0.8%

  

  

Calpine Construction Finance Co., LP, Term Loan B1, 3.09%, 5/03/20

        493        487,082   

Calpine Corp.:

       

1st Lien Term Loan, 1.75%, 11/04/17

        250        249,062   

Term Loan B5, 3.59%, 5/27/22

        257        257,874   

Term Loan B6, 4.00%, 1/15/23

        273        274,496   

Term Loan B7, 3.84%, 5/31/23

        411        413,696   

Dynegy, Inc., Escrow, 5.00%, 6/27/23

        1,492        1,498,588   
Floating Rate Loan Interests (d)          Par
(000)		     Value  

Independent Power and Renewable Electricity Producers (continued)

  

Granite Acquisition, Inc.:

      

Term Loan B, 5.00%, 12/19/21

     USD        1,096      $ 1,085,914   

Term Loan C, 5.00%, 12/19/21

       49        48,631   

NRG Energy, Inc., 2016 Term Loan B, 3.50%, 6/30/23

       579        579,852   
     

 

 

  
                      4,895,195   

Industrial Conglomerates — 0.2%

      

Sequa Corp., Term Loan B, 5.25%, 6/19/17

       200        185,662   

Vertiv Co., Term Loan B, 6.00%, 11/30/23

       1,325        1,310,928   
     

 

 

  
                      1,496,590   

Insurance — 0.7%

      

AmWINS Group, LLC, 2016 Term Loan B, 4.75%, 9/06/19

       722        726,165   

AssuredPartners, Inc., 2016 Term Loan B, 5.25%, 10/21/22

       603        605,132   

Asurion LLC:

      

Term Loan B1, 5.00%, 5/24/19

       219        220,413   

Term Loan B4, 5.00%, 8/04/22

       230        231,753   

Hub International Ltd., Term Loan B, 4.00%, 10/02/20

       316        315,978   

Lonestar Intermediate Super Holdings LLC, PIK Term Loan B, 5.00%, 8/31/21 (h)

       430        433,496   

Sedgwick Claims Management Services, Inc.:

      

1st Lien Term Loan, 3.75%, 3/01/21

       805        799,885   

2016 1st Lien Term Loan, 4.25%, 3/01/21

       264        266,320   

2nd Lien Term Loan, 6.75%, 2/28/22

       765        759,263   
     

 

 

  
                      4,358,405   

Internet & Direct Marketing Retail — 0.1%

      

Harbor Freight Tools USA, Inc., 2016 Term Loan B, 4.14%, 8/19/23

             922        928,799   

Internet Software & Services — 0.5%

      

Go Daddy Operating Co. LLC, Term Loan B, 4.25%, 5/13/21

       1,085        1,091,382   

Rackspace Hosting, Inc., 1st Lien Term Loan, 5.00%, 11/03/23

       1,315        1,325,849   
 

 

 

                
22    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)           Par
(000)		     Value  

Internet Software & Services (continued)

       

WaveDivision Holdings LLC, Term Loan B, 4.00%, 10/15/19

      USD        384      $ 384,777   
      

 

 

  
                       2,802,008   

IT Services — 1.0%

       

Cision US Inc., Term Loan B, 7.00%, 6/16/23

        534        515,321   

First Data Corp., 2016 Term Loan, 3.58%, 3/24/21

        3,612        3,625,992   

Global Payments Inc., Reprice Term Loan B, 3.03%, 4/22/23

        494        497,932   

Vantiv LLC, 2014 Term Loan B, 3.25%, 10/14/23

        519        521,703   

WEX, Inc., Term Loan B, 4.25%, 7/01/23

        1,212        1,223,003   
      

 

 

  
                       6,383,951   

Machinery — 0.5%

       

Global Brass & Copper, Inc., 2016 Term Loan B, 5.25%, 7/18/23

        490        494,900   

Mueller Water Products, Inc., Term Loan B, 4.03%, 11/26/21

        300        301,536   

Navistar International Corp., Term Loan B, 6.50%, 8/07/20

        414        416,931   

Rexnord LLC, 1st Lien Term Loan B, 4.00%, 8/21/20

        857        859,688   

Silver II US Holdings LLC, Term Loan, 4.00%, 12/13/19

        1,406        1,255,426   
      

 

 

  
                       3,328,481   

Media — 3.4%

       

Altice US Finance I Corp., 2016 Term Loan B, 3.88%, 1/15/25

        1,802        1,810,009   

AMC Entertainment, Inc., Term Loan B, 3.36%, 12/15/23

        315        316,575   

CBS Radio, Inc., Term Loan B, 4.50%, 10/17/23

        460        461,636   

Cengage Learning Acquisitions, Inc., 2016 Term Loan B, 5.25%, 6/07/23

        91        87,698   

Charter Communications Operating LLC, 2016 Term Loan I, 3.50%, 1/24/23

        2,073        2,092,112   

CSC Holdings LLC, 2016 Term Loan, 3.88%, 10/11/24

        1,090        1,096,812   

Entercom Radio LLC, 2016 Term Loan, 4.50%, 11/01/23

        245        246,607   

Gray Television, Inc., 2014 Term Loan B, 3.94%, 6/13/21

        259        260,619   

Houghton Mifflin Harcourt Publishing Co., 2015 Term Loan B, 4.00%, 5/31/21

        718        671,316   
Floating Rate Loan Interests (d)          Par
(000)		     Value  

Media (continued)

      

iHeartCommunications, Inc.:

      

Extended Term Loan E, 8.11%, 7/30/19

     USD        215      $ 166,249   

Term Loan D, 7.36%, 1/30/19

       1,972        1,526,179   

Intelsat Jackson Holdings SA, Term Loan B2, 3.75%, 6/30/19

       1,391        1,340,383   

Learfield Communications, Inc., 2016 1st Lien Term Loan, 4.25%, 11/17/23

       571        574,154   

MGOC, Inc., Term Loan B, 4.00%, 7/31/20

       747        746,567   

Mission Broadcasting, Inc., 2016 Term Loan B2, 3.00%, 9/26/23

       146        146,666   

Nexstar Broadcasting, Inc., 2016 Term Loan B, 3.85%, 9/21/23

       1,639        1,645,920   

Numericable U.S. LLC:

      

Term Loan B10, 4.04%, 1/13/25

       948        944,838   

Term Loan B7, 5.14%, 1/15/24

       724        730,261   

SBA Senior Finance II LLC, Term Loan B1, 3.34%, 3/24/21

       680        680,999   

Trader Corp., Term Loan, 5.00%, 9/28/23

       455        457,653   

Tribune Media Co., Term Loan, 3.75%, 12/27/20

       1,295        1,298,416   

Univision Communications, Inc., Term Loan C4, 4.00%, 3/01/20

       1,281        1,280,536   

UPC Financing Partnership, Term Loan AN, 4.08%, 8/31/24

       356        357,139   

Virgin Media Investment Holdings Ltd.:

      

Term Loan E, 4.25%, 6/30/23

     GBP        305        382,558   

Term Loan F, 3.50%, 6/30/23

     USD        1,076        1,081,776   

Ziggo Financing Partnership:

      

Term Loan B1, 3.50%, 1/15/22

       366        366,052   

Term Loan B2A, 3.50%, 1/15/22

       230        229,513   

Term Loan B3, 3.70%, 1/15/22

       71        71,241   
     

 

 

  
                      21,070,484   

Metals & Mining — 0.2%

      

Ameriforge Group, Inc., 2nd Lien Term Loan, 8.75%, 12/19/20

       255        35,700   

Freeport McMoran Copper & Gold Inc., Term Loan A, 3.11%, 5/31/18

       172        171,199   

Novelis, Inc., 2015 Term Loan B, 4.00%, 6/02/22

       1,072        1,073,868   
 

 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    23

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)           Par
(000)		     Value  

Metals & Mining (continued)

       

WireCo WorldGroup, Inc., 2016 1st Lien Term Loan, 6.50%, 9/30/23

      USD        235      $ 236,910   
      

 

 

  
                       1,517,677   

Multiline Retail — 0.6%

       

BJ’s Wholesale Club, Inc.:

       

1st Lien Term Loan, 4.50%, 9/26/19

        1,225        1,227,276   

2nd Lien Term Loan, 8.50%, 3/26/20

        572        571,689   

Dollar Tree, Inc., Term Loan B3, 3.06%, 7/06/22

        530        534,114   

Hudson’s Bay Co., 2015 Term Loan B, 4.25%, 9/30/22

        966        970,809   

Neiman Marcus Group, Inc., 2020 Term Loan, 4.25%, 10/25/20

        493        447,652   
      

 

 

  
                       3,751,540   

Oil, Gas & Consumable Fuels — 1.5%

       

California Resources Corp.:

       

Second Out Term Loan, 11.38%, 12/31/21

        1,145        1,245,187   

Term Loan A, 3.61%, 10/01/19

        897        859,167   

Chesapeake Energy Corp., Term Loan, 8.50%, 8/23/21

        1,194        1,275,109   

CITGO Holding, Inc., 2015 Term Loan B, 9.50%, 5/12/18

        346        349,313   

Drillships Financing Holding, Inc., Term Loan B1, 6.00%, 3/31/21

        442        229,545   

Energy Transfer Equity LP, Term Loan:

       

2015, 4.14%, 12/02/19

        244        243,868   

3.39%, 12/02/19

        87        86,318   

EP Energy LLC, 2016 Term Loan, 9.75%, 6/30/21

        77        77,411   

EWT Holdings III Corp., 1st Lien Term Loan, 4.75%, 1/15/21

        292        292,115   

MEG Energy Corp., Refinancing Term Loan, 3.75%, 3/31/20

        1,316        1,236,081   

Panda Patriot LLC, Term Loan B1, 6.75%, 12/19/20

        443        432,968   

PowerTeam Services LLC, 2nd Lien Term Loan, 8.25%, 11/06/20

        275        272,938   

Samchully Midstream 3 LLC, Term Loan B, 5.75%, 10/20/21

        259        244,962   

Seventy Seven Operating LLC, Term Loan B, 3.89%, 6/25/20

        103        92,991   

Southcross Energy Partners LP, 1st Lien Term Loan, 5.25%, 8/04/21

        23        17,685   
Floating Rate Loan Interests (d)          Par
(000)		     Value  

Oil, Gas & Consumable Fuels (continued)

      

Southcross Holdings Borrower LP, Exit Term Loan B, 4.50%, 4/13/23

     USD        36      $ 27,231   

TPF II Power LLC, Term Loan B, 5.00%, 10/02/21

       914        913,739   

Ultra Resources, Inc., Revolver, 4.75%, 4/06/17 (b)

       531        495,158   

Veresen Midstream Limited Partnership, Term Loan B1, 5.25%, 3/31/22

       821        822,811   
     

 

 

  
                      9,214,597   

Personal Products — 0.2%

      

Prestige Brands, Inc., Term Loan B3, 3.50%, 9/03/21

       464        467,227   

Revlon Consumer Products Corp., 2016 Term Loan B, 4.25%, 9/07/23

       915        915,732   
     

 

 

  
                      1,382,959   

Pharmaceuticals — 1.5%

      

Akorn, Inc., Term Loan B, 5.25%, 4/16/21

       609        613,299   

DPx Holdings BV, 2014 Incremental Term Loan, 4.25%, 3/11/21

       1,636        1,636,215   

Endo Luxembourg Finance Co. I Sarl, 2015 Term Loan B, 3.75%, 9/26/22

       353        350,844   

Grifols Worldwide Operations USA, Inc., Term Loan B, 3.46%, 2/27/21

       1,210        1,218,783   

Jaguar Holding Co. II, 2015 Term Loan B, 4.25%, 8/18/22

       1,991        1,995,319   

NBTY, Inc., Term Loan B, 5.00%, 5/05/23

       991        991,242   

Valeant Pharmaceuticals International, Inc.:

      

Series A3 Tranche A, 4.36%, 10/20/18

       130        128,644   

Series C2 Term Loan B, 5.25%, 12/11/19

       1,556        1,539,453   

Series E Term Loan B, 5.25%, 8/05/20

       472        466,228   

Series F1 Term Loan B, 5.50%, 4/01/22

       334        331,456   
     

 

 

  
                      9,271,483   

Professional Services — 0.7%

      

Acosta Holdco, Inc., 2015 Term Loan, 4.25%, 9/26/21

       146        137,681   
 

 

 

                
24    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)           Par
(000)		     Value  

Professional Services (continued)

       

Advantage Sales & Marketing, Inc.:

       

2014 1st Lien Term Loan, 4.25%, 7/23/21

      USD        362      $ 359,733   

2014 2nd Lien Term Loan, 7.50%, 7/25/22

        233        218,626   

Emdeon Business Services LLC, Term Loan B2, 3.75%, 11/02/18

        1,041        1,041,588   

Sterling Infosystems, Inc., 1st Lien Term Loan B, 5.75%, 6/20/22

        587        584,513   

TransUnion LLC, Term Loan B2, 3.50%, 4/09/21

        1,987        1,996,043   
      

 

 

  
                       4,338,184   

Real Estate Investment Trusts (REITs) — 0.4%

       

Communications Sales & Leasing, Inc., Term Loan B, 4.50%, 10/24/22

        779        783,817   

MGM Growth Properties LLC, 2016 Term Loan B, 3.50%, 4/25/23

        1,393        1,398,437   
      

 

 

  
                       2,182,254   

Real Estate Management & Development — 0.5%

       

CityCenter Holdings LLC, Term Loan B, 4.25%, 10/16/20

        756        761,677   

DTZ U.S. Borrower LLC, 2015 1st Lien Term Loan, 4.25%, 11/04/21

        804        801,376   

Realogy Corp.:

       

2016 Term Loan B, 3.75%, 7/20/22

        822        827,961   

Term Loan A, 2.53%, 10/23/20

        473        471,540   
      

 

 

  
                       2,862,554   

Road & Rail — 0.0%

       

SIRVA Worldwide, Inc., 2016 Term Loan, 7.50%, 11/14/22

              240        234,600   

Semiconductors & Semiconductor Equipment — 0.8%

  

    

Avago Technologies Cayman Ltd., Term Loan B3, 3.54%, 2/01/23

        3,190        3,219,626   

Cavium, Inc., Term Loan B, 3.75%, 8/16/22

        270        271,688   

Microsemi Corp., 2015 Term Loan B, 3.75%, 1/15/23

        167        167,639   

NXP BV, Term Loan F, 3.41%, 12/07/20

        683        685,131   

ON Semiconductor Corp., Incremental Term Loan, 3.78%, 3/31/23

        330        332,063   
      

 

 

  
                       4,676,147   
Floating Rate Loan Interests (d)           Par
(000)		     Value  

Software — 2.4%

       

BMC Software Finance, Inc., Term Loan, 5.00%, 9/10/20

      USD        1,032      $ 1,007,290   

DTI Holdco, Inc., 2016 Term Loan B, 6.25%, 9/21/23

        545        536,596   

Infor US, Inc., Term Loan B5, 3.75%, 6/03/20

        1,368        1,365,354   

Informatica Corp., Term Loan, 4.50%, 8/05/22

        891        871,140   

IQOR US, Inc., Term Loan B, 6.00%, 4/01/21

        338        318,037   

Kronos Incorporated:

       

1st Lien Term Loan, 5.00%, 11/01/23

        1,170        1,172,562   

2nd Lien Term Loan, 9.25%, 11/01/24

        615        629,705   

Landslide Holdings, Inc., 2016 1st Lien Term Loan, 5.50%, 9/27/22

        240        241,200   

Mitchell International, Inc.:

       

1st Lien Term Loan, 4.50%, 10/13/20

        609        607,382   

2nd Lien Term Loan, 8.50%, 10/11/21

        600        591,000   

RP Crown Parent LLC, 2016 Term Loan B, 4.50%, 10/12/23

        851        854,769   

SolarWinds, Inc., 2016 Term Loan, 5.50%, 2/05/23

        918        923,601   

Solera LLC, Term Loan B, 5.75%, 3/03/23

        438        442,454   

Sophia LP, 2015 Term Loan B, 4.75%, 9/30/22

        929        930,299   

SS&C Technologies, Inc.:

       

2015 Term Loan B1, 4.00%, 7/08/22

        1,732        1,744,060   

2015 Term Loan B2, 4.00%, 7/08/22

        200        201,285   

Tibco Software Inc., Term Loan B, 6.50%, 12/04/20

        720        718,007   

Vertafore, Inc., 2016 1st Lien Term Loan, 4.75%, 6/30/23

        1,460        1,463,650   
      

 

 

  
                       14,618,391   

Specialty Retail — 0.8%

       

Academy Ltd., 2015 Term Loan B, 5.00%, 7/01/22

        498        458,532   

Bass Pro Group LLC:

       

Asset Sale Term Loan, 5.66%, 5/04/18

        295        294,448   

Term Loan B, 5.00%, 11/04/23

        360        357,106   

Leslie’s Poolmart, Inc., 2016 Term Loan, 5.25%, 8/16/23

        370        372,775   
 

 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    25

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Floating Rate Loan Interests (d)           Par
(000)		     Value  

Specialty Retail (continued)

  

Michaels Stores, Inc., 2016 Term Loan B1, 3.75%, 1/27/23

      USD        1,150      $ 1,158,046   

Outerwall ,Inc., 1st Lien Term Loan, 5.25%, 9/27/23

        353        356,134   

Party City Holdings, Inc., 2016 Term Loan, 4.20%, 8/19/22

        1,117        1,121,997   

Petco Animal Supplies, Inc.:

       

2016 Term Loan B1, 5.00%, 1/26/23

        357        359,758   

2016 Term Loan B2, 5.14%, 1/26/23

        447        449,345   
      

 

 

  
                       4,928,141   

Technology Hardware, Storage & Peripherals — 0.1%

  

Dell Inc., 2016 Term Loan B, 4.00%, 9/07/23

              795        802,258   

Textiles, Apparel & Luxury Goods — 0.2%

  

Ascend Performance Materials LLC, Term Loan B, 6.50%, 8/12/22

        710        707,525   

J. Crew Group, Inc., Term Loan B, 4.00%, 3/05/21

        147        94,229   

Samsonite International SA, Term Loan B, 4.00%, 8/01/23

        170        171,753   
      

 

 

  
                       973,507   

Thrifts & Mortgage Finance — 0.1%

       

IG Investment Holdings LLC, Term Loan B, 6.00%, 10/29/21

              837        842,257   

Trading Companies & Distributors — 0.4%

       

Beacon Roofing Supply, Inc., Term Loan B, 3.50%, 10/01/22

        843        845,889   

HD Supply, Inc.:

       

Incremental Term Loan B1, 3.59%, 8/13/21

        1,287        1,290,217   

Incremental Term Loan B2, 3.63%, 10/17/23

        225        226,125   

Nexeo Solutions LLC, 2016 Term Loan, 5.25%, 6/09/23

        110        110,457   
      

 

 

  
                       2,472,688   

Transportation — 0.1%

       

Gruden Acquisition, Inc., 1st Lien Term Loan, 5.75%, 8/18/22

              496        463,994   

Wireless Telecommunication Services — 0.8%

       

Ligado Networks LLC (a):

       

2015 2nd Lien Term Loan, 13.50%, 12/07/20

        29        20,073   

PIK Exit Term Loan (9.75% PIK), 9.75%, 6/15/20 (h)

        2,626        2,442,306   

LTS Buyer LLC, 1st Lien Term Loan, 4.09%, 4/13/20

        1,803        1,805,340   
Floating Rate Loan Interests (d)           Par
(000)		     Value  

Wireless Telecommunication Services (continued)

  

T-Mobile USA, Inc., Term Loan B, 3.50%, 11/09/22

      USD        483      $ 487,284   
      

 

 

  
                       4,755,003   
Total Floating Rate Loan Interests — 37.9%                234,803,724   
      
   
      
Foreign Agency Obligations                         

Argentine Republic Government International Bond (e):

       

6.25%, 4/22/19

        2,269        2,374,508   

7.63%, 4/22/46 (g)

        2,422        2,306,955   

Brazilian Government International Bond, 5.00%, 1/27/45

        513        406,809   

Cyprus Government International Bond, 4.63%, 2/03/20 (e)

      EUR        2,600        2,974,294   

Iceland Government International Bond, 5.88%, 5/11/22

      USD        3,030        3,472,774   

Portugal Government International Bond, 5.13%, 10/15/24 (e)

        4,680        4,515,592   

Republic of Argentina, 7.50%, 4/22/26 (e)(g)

        3,008        3,038,080   

Turkey Government International Bond (g):

       

6.75%, 4/03/18

        3,580        3,736,625   

7.00%, 3/11/19

        1,908        2,030,818   

7.50%, 11/07/19

        2,190        2,389,767   

YPF SA (e):

       

8.88%, 12/19/18

        965        1,042,200   

8.50%, 7/28/25

        923        938,876   
Total Foreign Agency Obligations — 4.7%                      29,227,298   
      
   
      
Non-Agency Mortgage-Backed Securities                         

Collateralized Mortgage Obligations — 2.5%

       

Countrywide Alternative Loan Trust, Series 2005-54CB, Class 3A4, 5.50%, 11/25/35

        3,234        2,800,650   

Countrywide Home Loan Mortgage
Pass-Through Trust:

       

Series 2005-17, Class 1A6,
5.50%, 9/25/35

        684        680,355   

Series 2006-17, Class A2,
6.00%, 12/25/36

        1,646        1,439,337   

Series 2007-HY5, Class 3A1, 4.59%, 9/25/37 (d)

        1,148        1,023,509   

Freddie Mac Mortgage-Backed Securities, Series 4480, Class ZX, 4.00%, 11/15/44

        4,233        4,442,051   
 

 

                
26   

BLACKROCK LIMITED DURATION INCOME TRUST

  

NOVEMBER 30, 2016

  

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Non-Agency Mortgage-Backed Securities          Par
(000)		     Value  

Collateralized Mortgage Obligations (continued)

  

GSR Mortgage Loan Trust, Series 2005-AR5, Class 2A3, 3.20%, 10/25/35 (d)

     USD        1,126      $ 984,485   

Hilton USA Trust, Series 2013-HLT, Class EFX, 4.60%, 11/05/30 (d)(e)

       4,162        4,160,448   
     

 

 

  
                      15,530,835   

Commercial Mortgage-Backed Securities — 8.9%

      

Banc of America Commercial Mortgage Trust, Series 2007-4, Class A4, 5.94%, 2/10/51 (d)

       1,411        1,432,973   

Banc of America Merrill Lynch Commercial Mortgage Securities Trust, Series 2015-200P, Class C, 3.72%, 4/14/33 (d)(e)

       4,830        4,828,525   

Citigroup Commercial Mortgage Trust, Series 2015-SSHP, Class D, 3.59%, 9/15/27 (d)(e)

       2,825        2,769,487   

Commercial Mortgage Pass-Through
Certificates (d)(e):

      

Series 2013-LC13, Class D, 5.21%, 8/10/46

       3,530        3,277,209   

Series 2014-PAT, Class E, 3.69%, 8/13/27

       1,000        988,691   

Series 2014-PAT, Class F, 2.98%, 8/13/27

       2,000        1,875,262   

Commercial Mortgage Trust:

      

Series 2013-LC6, Class B, 3.74%, 1/10/46

       1,110        1,136,630   

Series 2014-CR21, Class A3, 3.53%, 12/10/47

       230        237,505   

Series 2015-3BP, Class A,
3.18%, 2/10/35 (e)

       5,930        5,972,076   

Series 2015-CR22, Class B, 3.93%, 3/10/48 (d)

       5,000        5,073,804   

Core Industrial Trust, Series 2015-TEXW, Class D, 3.98%, 2/10/34 (d)(e)

       3,615        3,638,336   

CSAIL Commercial Mortgage Trust,
Series 2015-C1, Class B, 4.04%, 4/15/50 (d)

       890        924,747   

GAHR Commercial Mortgage Trust,
Series 2015-NRF (d)(e):

      

Class DFX, 3.49%, 12/15/34

       4,830        4,818,527   

Class GFX, 3.49%, 12/15/34

       2,500        2,285,853   

Goldman Sachs Mortgage Securities Trust, Series 2014-GSFL, Class D, 4.44%, 7/15/31 (d)(e)

       1,140        1,141,384   
Non-Agency Mortgage-Backed Securities          Par
(000)		     Value  

Commercial Mortgage-Backed Securities (continued)

  

Greenwich Capital Commercial Funding Corp. Commercial Mortgage Trust, Series 2006-GG7, Class AM, 5.95%, 7/10/38 (d)

     USD        696      $ 696,088   

GS Mortgage Securities Corp. II, Series 2013-GC10, Class B, 3.68%, 2/10/46 (e)

       1,995        2,046,539   

JPMorgan Chase Commercial Mortgage Securities Corp.:

      

Series 2004-LN2, Class A2,
5.12%, 7/15/41

       41        40,879   

Series 2007-CB19, Class A4, 5.90%, 2/12/49 (d)

       1,561        1,573,913   

Series 2012-LC9, Class XA, 1.97%, 12/15/47 (d)

       13,864        876,401   

JPMorgan Chase Commercial Mortgage Securities Trust:

      

Series 2007-CB18, Class A4,
5.44%, 6/12/47

       610        609,830   

Series 2016-NINE, Class A, 2.95%, 10/06/38 (d)(e)

       800        778,447   

LB-UBS Commercial Mortgage Trust, Series 2007-C6, Class A4, 5.86%, 7/15/40 (d)

       2,240        2,258,163   

Merrill Lynch Mortgage Trust, Series 2007-C1, Class A1A, 6.49%, 6/12/50 (d)

       1,324        1,338,376   

Wachovia Bank Commercial Mortgage Trust, Series 2007-C33, Class A4, 6.17%, 2/15/51 (d)

       1,355        1,363,999   

Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class A4, 3.70%, 11/15/48

       600        623,824   

WF-RBS Commercial Mortgage Trust, Series 2012-C8:

      

Class B, 4.31%, 8/15/45

       1,085        1,148,683   

Class C, 5.06%, 8/15/45 (d)

       1,395        1,447,902   
     

 

 

  
                      55,204,053   

Interest Only Commercial Mortgage-Backed Securities — 0.3%

  

Commercial Mortgage Loan Trust, Series 2015-LC21, Class XA, 0.87%, 7/10/48 (d)

       16,088        729,549   

WF-RBS Commercial Mortgage Trust, Series 2014-C20, Class XA, 1.34%, 5/15/47 (d)

       14,494        811,273   
     

 

 

  
                      1,540,822   
Total Non-Agency Mortgage-Backed Securities — 11.7%        72,275,710   
 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    27

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Other Interests (j)          Beneficial
Interest
(000)		     Value  

Auto Components — 0.0%

  

Lear Corp. Escrow

     USD        1,000      $ 10   

Construction Materials — 0.0%

      

USI Senior Holdings

             6        193,619   
Total Other Interests — 0.0%                     193,629   
     
   
     
Preferred Securities                        
Capital Trusts          Par
(000)		         

Banks — 2.5%

  

Banco Bilbao Vizcaya Argentaria SA, 6.75% (d)(k)

       200        195,489   

Banco Nacional de Comercio Exterior SNC, 3.80% (d)(e)(k)

       509        474,515   

Banco Popular Espanol SA, 8.25% (d)(k)

       200        183,256   

Banco Santander SA, 6.25% (d)(k)

       200        190,510   

BNP Paribas SA, 7.38% (d)(e)(g)(k)

       200        199,000   

Capital One Financial Corp., Series E, 5.55% (d)(g)(k)

       3,000        2,976,000   

Citigroup, Inc. (d)(g)(k):

      

5.90%

       5,000        4,975,000   

5.95%

       1,370        1,371,713   

Series R, 6.13%

       950        985,625   

Cooperatieve Rabobank UA, 6.63% (d)(k)

       200        221,451   

Intesa Sanpaolo SpA, 7.00% (d)(k)

       200        201,371   

Wells Fargo & Co. (d)(g)(k):

      

Series S, 5.90%

       3,000        3,015,750   

Series U, 5.88%

       650        670,209   
     

 

 

  
                      15,659,889   

Capital Markets — 1.1%

      

Goldman Sachs Group, Inc. (d)(g)(k):

      

Series L, 5.70%

       819        826,166   

Series M 5.38%

       1,730        1,710,538   

Morgan Stanley, Series H, 5.45% (d)(g)(k)

       2,546        2,495,080   

State Street Corp., Series F, 5.25% (d)(g)(k)

       1,625        1,655,469   

UBS Group AG, 5.75% (d)(k)

       200        217,553   
     

 

 

  
                      6,904,806   

Chemicals — 0.0%

      

Lanxess AG, 5.00% (d)

       50        52,280   
Capital Trusts         

    
Par

(000)

     Value  

Chemicals (continued)

  

Solvay Finance SA, 5.12% (d)(k)

     USD        100      $ 111,560   
     

 

 

  
                      163,840   

Diversified Financial Services — 3.2%

      

Bank of America Corp. (d)(g)(k):

      

Series AA, 6.10%

       1,241        1,241,000   

Series U, 5.20%

       1,250        1,194,538   

Series V, 5.13%

       510        499,800   

Series X, 6.25%

       1,929        1,919,374   

Barclays PLC, 7.88% (d)(k)

       200        196,500   

Credit Agricole SA, 6.50% (d)(k)

       100        107,156   

JPMorgan Chase & Co. (d)(g)(k):

      

Series U, 6.13%

       6,690        6,744,356   

Series V, 5.00%

       4,060        3,948,350   

Macquarie Bank Ltd., 10.25% (d)(k)

       1,450        1,491,977   

Royal Bank of Scotland Group PLC, 8.63% (d)(k)

       200        196,750   

Societe Generale SA (d)(e)(k):

      

6.00% (g)

       2,000        1,754,808   

7.38%

       200        192,500   
     

 

 

  
                      19,487,109   

Diversified Telecommunication Services — 0.1%

      

Telefonica Europe BV (d)(k):

      

3.75%

       100        100,156   

4.20%

       200        211,228   

5.00%

       100        107,349   
     

 

 

  
                      418,733   

Electric Utilities — 0.1%

      

Enel SpA (d):

      

5.00%, 1/15/75

     EUR        100        110,489   

7.75%, 9/10/75

     GBP        100        134,869   
     

 

 

  
                      245,358   

Insurance — 1.5%

      

Hartford Financial Services Group, Inc.,
8.13% (d)(g)(k)

     USD        2,500        2,696,875   

Prudential Financial, Inc., 5.63% (d)(g)(k)

       3,250        3,371,875   

Voya Financial, Inc., 5.65% (d)(g)(k)

       3,500        3,447,500   
     

 

 

  
                      9,516,250   

Media — 0.0%

      

SES SA, 5.63% (d)(k)

             100        105,720   

Oil, Gas & Consumable Fuels — 0.1%

      

DCP Midstream LLC, 5.85%, 5/21/43 (d)(e)

       40        34,000   

Gas Natural Fenosa Finance BV, 3.38% (d)(k)

       100        96,646   
 

 

                
28    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

Capital Trusts           Par
(000)		     Value  

Oil, Gas & Consumable Fuels (continued)

  

Repsol International Finance BV, 4.50%,
3/25/75 (d)

      USD        100      $ 95,656   

TOTAL SA, 3.88% (d)(k)

        100        111,284   
      

 

 

  
                       337,586   
Total Capital Trusts — 8.6%                      52,839,291   
      
   
Preferred Stocks           Shares         

Capital Markets — 1.5%

  

CF-B L2 (D) LLC, (Aquired 4/08/15,
cost $11,497) (c)

        127,973        108,163   

Goldman Sachs Group, Inc., Series J,
5.50% (d)(k)

        202,526        5,089,478   

Morgan Stanley, 6.88% (d)(k)

        120,000        3,297,600   

SCE Trust III, 5.75% (d)(k)

              21,200        551,412   
Total Preferred Stocks — 1.5%                      9,046,653   
      
   
      
Trust Preferred — 0.4%                         

Diversified Financial Services — 0.4%

  

  

GMAC Capital Trust I, Series 2,
6.60%, 2/15/40 (d)

              105,753        2,652,155   
Total Preferred Securities — 10.5%        64,538,099   
      
   
U.S. Government Sponsored Agency Securities           Par  
(000)		         

Interest Only Collateralized Mortgage Obligations — 0.6%

  

Fannie Mae Mortgage-Backed Securities, Series 2012-M9, Class X1, 4.17%, 12/25/17 (d)

      USD        11,092        249,851   

Freddie Mac Mortgage-Backed Securities,
Class X1 (d):

       

Series K042, 1.19%, 12/25/24

        34,826        2,409,824   

Series K707, 1.67%, 12/25/18

        40,926        1,051,304   
      

 

 

  
                       3,710,979   

Mortgage-Backed Securities — 0.3%

  

  

Fannie Mae Mortgage-Backed Securities,
5.00%, 7/1/20 — 8/1/23 (g)

        1,963        2,024,489   
Total U.S. Government Sponosored
Agency Securities 0.9%		         5,735,468   
U.S. Treasury Obligations – 0.7%           Par
(000)		     Value  

U.S. Treasury Bonds, 2.50%, 2/15/46 (g)

      USD        5,000      $ 4,475,585   
      
   
Warrants — 0.0%           Shares         

Software — 0.0%

  

HMH Holdings/EduMedia (Issued/exercisable 3/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike Price $42.27)

              3,100        3,791   
Total Long-Term Investments
(Cost — $880,444,944) — 141.2%		         873,688,903   
      
   
      
Short-Term Securities                         

BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.25% (l)(m)

              5,472,617        5,472,617   
Total Short-Term Securities
(Cost — $5,472,617) — 0.9%		         5,472,617   
Options Purchased
(Cost — $1,287,059) — 0.1%		         818,331   
Total Investments Before Options Written
(Cost — $887,204,620*) — 142.2%		         879,979,851   
Options Written
(Premiums Received — $1,104,161) — (0.1)%		         (926,225 ) 
Total Investments, Net of Options Written
(Cost — $886,100,459) — 142.1%		           879,053,626   

Liabilities in Excess of Other Assets — (42.1)%

  

     (260,052,888 ) 
      

 

 

  

Net Assets — 100.0%

        $ 619,000,738   
      

 

 

  

*  As of November 30, 2016, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

      

Tax cost

        $ 886,483,622   
      

 

 

  

Gross unrealized appreciation

        $ 16,324,941   

Gross unrealized depreciation

          (22,828,712 ) 
      

 

 

  

Net unrealized depreciation

        $ (6,503,771 ) 
      

 

 

  
      

 

 

  

 

 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    29

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Notes to Schedule of Investments

 

(a)   Non-income producing security.

 

(b)   Issuer filed for bankruptcy and/or is in default.

 

(c)   Restricted security as to resale, excluding 144A securities. As of period end, the Fund held restricted securities with a current value of $109,176 and an original cost of $27,096, which was less than 0.05% of its net assets.

 

(d)   Variable rate security. Rate as of period end.

 

(e)   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.

 

(f)   When-issued security.

 

(g)   All or a portion of security has been pledged as collateral in connection with outstanding reverse repurchase agreements.

 

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

 

(i)   Convertible security.

 

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

 

(k)   Perpetual security with no stated maturity date.

 

(l)   Current yield as of period end.

 

(m)   During the period ended November 30, 2016, investments in issuers considered to be affiliates of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate      Shares
Held at
August 31,
2016		     

Shares

Purchased

     

Shares

Sold

      Shares
Held at
November 30,
2016		     

Value at

November 30,
2016

      Income      Realized
Gain (Loss)		  

BlackRock Liquidity Funds, T-Fund, Institutional Class

      —      5,472,6171      —      $5,472,617      $5,472,617      $5,200        —   

BlackRock Liquidity Funds, TempFund, Institutional Class

      2,911,779      —      (2,911,779)2      —      —      33        —   

iShares iBoxx $ High Yield Corporate Bond ETF

      8,500      —      (8,500)      —      —      9,713        $(3,886)   

Total

                          $5,472,617      $14,946        $(3,886)   
                   

 

  

1   Represents net shares purchased.

     

2   Represents net shares sold.

     

 

Reverse Repurchase Agreements                        

Counterparty

  

Interest

Rate

    

Trade

Date

    

Maturity

Date1

    

Face Value

    

Face Value

Including

Accrued

Interest

    

Type of Non-Cash

Underlying

Collateral

  

Remaining

Contractual

Maturity of

the Agreements1

  

Credit Suisse Securities (USA) LLC

     0.70 %      12/17/15        Open      $ 904,619      $ 910,758      Corporate Bonds     Open/Demand   

Credit Suisse Securities (USA) LLC

     0.70 %      12/17/15        Open        5,839,556        5,879,184      Corporate Bonds     Open/Demand   

Credit Suisse Securities (USA) LLC

     0.70 %      12/17/15        Open        1,283,750        1,292,467      Corporate Bonds     Open/Demand   

HSBC Securities (USA), Inc.

     0.90 %      12/17/15        Open        1,437,000        1,449,538      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     0.64 %      12/17/15        Open        334,800        336,877      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     0.64 %      12/17/15        Open        1,706,250        1,716,836      Corporate Bonds     Open/Demand   

 

                
30    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

RBC Capital Markets LLC

     0.64 %      12/17/15        Open      $ 239,700      $ 241,187      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      12/17/15        Open        405,638        408,154      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      12/17/15        Open        2,079,000        2,091,899      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      12/17/15        Open        648,088        652,109      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      12/17/15        Open        619,125        622,966      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      12/17/15        Open        1,164,075        1,171,297      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      12/17/15        Open        1,447,950        1,456,934      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      12/17/15        Open        78,720        79,292      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      12/17/15        Open        321,300        323,636      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      12/17/15        Open        355,100        358,198      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      12/17/15        Open        520,838        525,382      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      12/17/15        Open        638,625        644,197      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      12/17/15        Open        719,510        726,136      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      12/17/15        Open        486,735        491,218      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      12/17/15        Open        417,300        421,345      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      12/17/15        Open        225,060        227,242      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      12/17/15        Open        469,463        474,014      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      12/17/15        Open        220,100        222,234      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      12/17/15        Open        376,875        380,529      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      12/17/15        Open        285,488        288,255      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      12/17/15        Open        396,375        400,218      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.05 %      12/17/15        Open        584,600        590,551      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.80 %      12/18/15        Open        309,000        311,376      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.90 %      12/18/15        Open        153,000        154,323      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.80 %      12/29/15        Open        2,950,000        2,972,092      Capital Trusts   Open/Demand

HSBC Securities (USA), Inc.

     0.80 %      12/29/15        Open        510,000        513,819      Corporate Bonds   Open/Demand

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    31

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

HSBC Securities (USA), Inc.

     0.80 %      12/29/15        Open      $ 2,340,000      $ 2,357,524      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.85 %      12/29/15        Open        5,910,000        5,957,026      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      1/14/16        Open        1,264,000        1,275,271      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      1/26/16        Open        863,785        871,223      Corporate Bonds   Open/Demand

UBS Ltd.

     0.75 %      2/02/16        Open        1,278,700        1,286,776      Corporate Bonds   Open/Demand

UBS Ltd.

     0.75 %      2/02/16        Open        2,482,500        2,498,178      Capital Trusts   Open/Demand

UBS Ltd.

     0.75 %      2/02/16        Open        2,850,000        2,867,999      Capital Trusts   Open/Demand

UBS Ltd.

     1.00 %      2/02/16        Open        4,450,000        4,487,331      Capital Trusts   Open/Demand

UBS Ltd.

     1.00 %      2/05/16        Open        420,323        423,790      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      2/05/16        Open        1,016,170        1,024,553      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      2/05/16        Open        1,075,275        1,084,146      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      2/05/16        Open        766,875        773,202      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      2/05/16        Open        506,300        510,477      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      2/05/16        Open        177,285        178,748      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      2/05/16        Open        922,500        930,111      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      2/08/16        Open        923,550        928,426      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      2/08/16        Open        1,295,555        1,302,396      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      2/09/16        Open        745,000        751,126      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      2/10/16        Open        229,000        230,877      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      2/11/16        Open        298,560        300,868      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      2/17/16        Open        825,000        831,600      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      2/18/16        Open        443,000        446,519      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      3/01/16        Open        368,950        371,627      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      3/01/16        Open        1,492,500        1,503,901      Capital Trusts   Open/Demand

RBC Capital Markets LLC

     0.64 %      3/02/16        Open        1,053,675        1,058,808      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      3/02/16        Open        713,125        718,553      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      3/02/16        Open        681,225        686,410      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      3/02/16        Open        519,750        523,706      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      3/17/16        Open        991,850        998,104      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      3/22/16        Open        542,000        545,633      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      3/22/16        Open        95,500        95,931      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      3/22/16        Open        288,563        289,866      Corporate Bonds   Open/Demand

 

                
32    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

RBC Capital Markets LLC

     0.64 %      3/22/16        Open      $ 381,563      $ 383,285      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      3/22/16        Open        477,225        479,380      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      3/22/16        Open        190,950        191,960      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      3/23/16        Open        308,000        309,561      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      3/28/16        Open        174,000        175,090      Capital Trusts   Open/Demand

RBC Capital Markets LLC

     0.90 %      3/30/16        Open        192,500        193,674      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      3/30/16        Open        597,600        601,650      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      4/06/16        Open        554,000        557,203      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      4/06/16        Open        534,000        536,707      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      4/06/16        Open        124,688        125,306      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.10 %      4/06/16        Open        139,375        140,389      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      4/07/16        Open        134,135        134,789      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      4/20/16        Open        322,920        324,820      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        493,000        496,207      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        701,000        705,559      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        601,000        604,909      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        565,000        568,675      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        405,000        407,634      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        606,000        609,942      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        464,000        467,018      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        379,000        381,465      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      4/21/16        Open        432,000        434,810      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     0.85 %      4/21/16        Open        283,000        284,490      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.05 %      4/21/16        Open        828,000        833,385      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.05 %      4/21/16        Open        134,000        134,872      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      4/27/16        Open        302,120        303,933      Corporate Bonds   Open/Demand

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    33

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

RBC Capital Markets LLC

     1.00 %      4/28/16        Open      $ 520,160      $ 523,076      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.25 %      4/29/16        Open        288,576        289,001      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      4/29/16        Open        524,400        527,126      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      5/02/16        Open        493,850        496,532      Corporate Bonds   Open/Demand

Credit Suisse Securities (USA) LLC

     0.48 %      5/03/16        Open        4,850,000        4,858,525      U.S. Treasury
Obligations		   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      5/04/16        Open        702,720        706,808      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      5/04/16        Open        527,363        530,424      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      5/05/16        Open        2,445,000        2,459,157      Capital Trusts   Open/Demand

RBC Capital Markets LLC

     1.00 %      5/05/16        Open        971,355        976,913      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      5/05/16        Open        502,500        505,375      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      5/05/16        Open        579,438        582,753      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      5/06/16        Open        1,039,000        1,044,442      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      5/10/16        Open        1,020,000        1,025,708      Corporate Bonds   Open/Demand

Credit Suisse Securities (USA) LLC

     1.25 %      5/11/16        Open        1,904,298        1,917,376      Foreign Agency
Obligations		   Open/Demand

Credit Suisse Securities (USA) LLC

     1.25 %      5/11/16        Open        2,462,800        2,479,609      Foreign Agency
Obligations		   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      5/12/16        Open        509,230        512,023      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.05 %      5/16/16        Open        1,552,000        1,560,963      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     0.75 %      5/18/16        Open        400,000        401,633      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     0.85 %      5/18/16        Open        574,000        576,656      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.04 %      5/18/16        Open        966,000        971,470      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.04 %      5/18/16        Open        1,310,000        1,317,418      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      5/18/16        Open        916,000        921,236      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      5/18/16        Open        598,000        601,419      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      5/19/16        Open        261,120        262,513      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      5/20/16        Open        308,016        309,650      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      5/23/16        Open        161,370        162,231      Corporate Bonds   Open/Demand

 

                
34    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

Deutsche Bank Securities, Inc.

     1.00 %      5/24/16        Open      $ 287,000      $ 288,507      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      5/24/16        Open        196,080        196,990      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      5/25/16        Open        2,238,390        2,247,250      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      5/26/16        Open        484,544        487,088      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      5/27/16        Open        2,935,000        2,949,920      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      5/31/16        Open        571,200        573,753      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      6/03/16        Open        538,670        541,318      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.65 %      6/13/16        Open        181,000        181,666      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      6/13/16        Open        157,000        157,707      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      6/15/16        Open        79,000        79,366      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     0.78 %      6/16/16        Open        3,901,000        3,915,474      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.05 %      6/27/16        Open        718,000        721,531      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      6/29/16        Open        264,128        265,369      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     0.80 %      7/07/16        Open        1,535,000        1,539,980      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     0.80 %      7/07/16        Open        2,862,000        2,871,286      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        665,000        667,697      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        645,000        647,616      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        604,000        606,450      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        464,000        465,882      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        719,000        721,916      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        543,000        545,202      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        1,149,000        1,153,660      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        542,000        544,198      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        131,000        131,531      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        1,072,000        1,076,348      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        298,000        299,209      Corporate Bonds   Open/Demand

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    35

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open      $ 363,000      $ 364,472      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        1,437,000        1,442,828      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        2,114,000        2,122,573      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        671,000        673,721      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        1,290,000        1,295,232      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        945,000        948,833      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        362,000        363,468      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        1,476,000        1,481,986      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        1,715,000        1,721,955      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        1,104,000        1,108,477      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/07/16        Open        1,279,000        1,284,187      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/15/16        Open        578,550        580,333      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/15/16        Open        1,881,600        1,886,752      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      7/18/16        Open        235,950        236,808      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/25/16        Open        327,590        328,341      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/25/16        Open        463,594        464,657      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/25/16        Open        225,318        225,835      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/25/16        Open        296,735        297,416      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/25/16        Open        654,635        656,136      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/25/16        Open        139,825        140,146      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      7/25/16        Open        154,019        154,372      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      7/25/16        Open        113,940        114,348      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      7/27/16        Open        392,241        393,537      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      7/27/16        Open        220,800        221,432      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      7/28/16        Open        446,220        447,459      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      7/28/16        Open        342,785        343,856      Corporate Bonds   Open/Demand

 

                
36    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

RBC Capital Markets LLC

     0.90 %      7/28/16        Open      $ 322,560      $ 323,623      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      7/28/16        Open        892,080        894,868      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      7/28/16        Open        549,450        551,167      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      7/28/16        Open        882,090        884,848      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      7/28/16        Open        715,145        717,535      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      7/28/16        Open        238,080        238,896      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      7/28/16        Open        1,118,380        1,122,263      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      7/28/16        Open        1,396,000        1,400,847      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      7/28/16        Open        833,000        835,928      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     0.95 %      8/01/16        Open        2,855,000        2,861,839      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.05 %      8/01/16        Open        2,232,000        2,239,942      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      8/01/16        Open        378,750        379,558      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      8/01/16        Open        174,400        174,923      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/01/16        Open        384,225        385,390      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      8/02/16        Open        331,000        332,072      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      8/02/16        Open        414,200        415,519      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      8/08/16        Open        11,000        11,034      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      8/15/16        Open        824,000        826,596      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      8/15/16        Open        633,000        634,994      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      8/15/16        Open        999,000        1,001,997      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      8/15/16        Open        923,000        925,769      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.00 %      8/15/16        Open        914,000        916,742      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      8/15/16        Open        2,152,000        2,158,133      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      8/15/16        Open        1,029,000        1,031,933      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      8/15/16        Open        709,000        711,021      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/15/16        Open        1,003,850        1,006,862      Corporate Bonds   Open/Demand

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    37

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

HSBC Securities (USA), Inc.

     0.95 %      8/16/16        Open      $ 227,000      $ 227,629      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      8/19/16        Open        344,000        344,908      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/19/16        Open        1,061,580        1,064,529      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/22/16        Open        422,000        423,284      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/22/16        Open        475,000        476,384      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/22/16        Open        569,000        570,756      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.65 %      8/22/16        Open        986,000        988,095      Corporate Bonds   Open/Demand

Credit Suisse Securities (USA) LLC

     0.75 %      8/24/16        Open        730,438        731,944      Corporate Bonds   Open/Demand

Credit Suisse Securities (USA) LLC

     0.75 %      8/24/16        Open        382,773        383,675      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     (1.50 %)      8/29/16        Open        602,640        601,924      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      8/29/16        Open        128,700        128,955      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      8/29/16        Open        137,025        137,254      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.64 %      8/29/16        Open        144,300        144,598      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      8/29/16        Open        121,155        121,418      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      8/29/16        Open        156,750        157,104      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      8/29/16        Open        1,194,885        1,197,693      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      8/29/16        Open        473,000        474,234      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/29/16        Open        351,480        352,368      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/29/16        Open        466,830        467,908      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/29/16        Open        864,640        866,712      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.10 %      8/29/16        Open        832,416        834,807      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.10 %      8/29/16        Open        1,650,420        1,655,018      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/30/16        Open        189,000        189,456      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/30/16        Open        362,000        362,874      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/30/16        Open        165,000        165,464      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/30/16        Open        170,000        170,427      Corporate Bonds   Open/Demand

 

                
38    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1

Deutsche Bank Securities, Inc.

     1.10 %      8/30/16        Open      $ 294,000      $ 294,790      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/30/16        Open        516,030        517,319      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/30/16        Open        172,000        172,444      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/30/16        Open        405,810        406,841      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/30/16        Open        133,450        133,783      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/30/16        Open        396,800        397,842      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/30/16        Open        365,375        366,319      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      8/30/16        Open        843,375        845,554      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/31/16        Open        443,000        443,904      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/31/16        Open        490,000        491,353      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/31/16        Open        450,000        451,265      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/31/16        Open        452,000        453,101      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/31/16        Open        407,000        408,144      Capital Trusts   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      8/31/16        Open        484,000        485,219      Corporate Bonds   Open/Demand

BNP Paribas Securities Corp.

     1.05 %      9/12/16        Open        227,000        227,507      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      9/14/16        Open        724,000        725,689      Foreign Agency
Obligations		   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      9/14/16        Open        3,125,000        3,131,927      Foreign Agency
Obligations		   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      9/14/16        Open        2,002,000        2,006,771      Foreign Agency
Obligations		   Open/Demand

RBC Capital Markets LLC

     1.00 %      9/14/16        Open        670,830        672,313      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      9/14/16        Open        632,625        634,050      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.05 %      9/16/16        Open        378,350        379,189      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      9/19/16        Open        284,400        284,945      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.95 %      9/20/16        Open        225,000        225,435      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      9/20/16        Open        710,640        711,853      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      9/20/16        Open        161,500        161,821      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      9/21/16        Open        260,580        261,052      Corporate Bonds   Open/Demand

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    39

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		  

Remaining
Contractual
Maturity of

the Agreements1

RBC Capital Markets LLC

     1.00 %      9/21/16        Open      $ 538,725      $ 539,758      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      9/29/16        Open        46,355        46,412      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.90 %      9/29/16        Open        453,560        454,229      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      9/30/16        Open        808,980        809,958      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      10/06/16        Open        140,000        140,218      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      10/07/16        Open        529,277        530,085      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.10 %      10/11/16        Open        241,181        241,557      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.75 %      10/11/16        Open        37,100        37,138      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      10/12/16        Open        934,992        936,176      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      10/12/16        Open        413,056        413,579      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      10/13/16        Open        104,720        104,851      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.05 %      10/14/16        Open        1,295,770        1,297,433      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     0.95 %      10/17/16        Open        217,935        218,182      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     (2.00 %)      10/18/16        Open        80,900        80,707      Corporate Bonds   Open/Demand

RBC Capital Markets LLC

     1.00 %      10/20/16        Open        856,800        857,704      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.15 %      10/21/16        Open        203,000        203,246      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.70 %      10/21/16        Open        3,395,000        3,398,640      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.70 %      10/21/16        Open        789,000        789,583      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.70 %      10/21/16        Open        2,690,000        2,691,988      Capital Trusts   Open/Demand

HSBC Securities (USA), Inc.

     0.70 %      10/21/16        Open        898,000        898,664      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.70 %      10/21/16        Open        1,473,000        1,474,457      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.70 %      10/21/16        Open        1,474,000        1,475,089      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.70 %      10/21/16        Open        3,341,000        3,343,469      Corporate Bonds   Open/Demand

HSBC Securities (USA), Inc.

     0.70 %      10/21/16        Open        824,000        824,609      Corporate Bonds   Open/Demand

UBS Ltd.

     1.00 %      10/21/16        Open        803,670        804,496      Corporate Bonds   Open/Demand

Deutsche Bank Securities, Inc.

     1.15 %      10/24/16        Open        351,000        351,404      Corporate Bonds   Open/Demand

 

                
40    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (continued)                        
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		   Remaining
Contractual
Maturity of
the Agreements1		  

RBC Capital Markets LLC

     0.75 %      10/25/16        Open      $ 484,500      $ 484,853      Corporate Bonds     Open/Demand  

RBC Capital Markets LLC

     0.95 %      10/25/16        Open        474,120        474,558      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     0.95 %      10/25/16        Open        480,525        480,969      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     1.00 %      10/25/16        Open        467,500        467,955      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     1.00 %      10/25/16        Open        469,125        469,581      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     1.00 %      10/25/16        Open        462,210        462,659      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     1.00 %      10/25/16        Open        484,575        485,046      Corporate Bonds     Open/Demand   

UBS Ltd.

     1.00 %      10/26/16        Open        1,484,875        1,486,277      Corporate Bonds     Open/Demand   

BNP Paribas Securities Corp.

     1.05 %      10/27/16        Open        1,263,000        1,264,142      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     0.95 %      10/27/16        Open        617,400        617,905      Corporate Bonds     Open/Demand   

BNP Paribas Securities Corp.

     1.05 %      10/28/16        Open        1,438,000        1,439,258      Corporate Bonds     Open/Demand   

BNP Paribas Securities Corp.

     1.08 %      10/28/16        Open        766,000        766,712      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.00 %      10/28/16        Open        621,000        621,535      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.10 %      10/28/16        Open        417,000        417,395      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      10/28/16        Open        125,000        125,120      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      10/28/16        Open        430,000        430,426      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      10/28/16        Open        1,790,000        1,791,773      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      10/28/16        Open        512,000        512,507      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      10/28/16        Open        1,002,000        1,002,992      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      10/28/16        Open        274,000        274,271      Corporate Bonds     Open/Demand   

HSBC Securities (USA), Inc.

     0.95 %      10/28/16        Open        52,000        52,041      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     0.75 %      10/28/16        Open        66,960        67,002      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     1.00 %      10/28/16        Open        1,428,240        1,429,470      Corporate Bonds     Open/Demand   

UBS Ltd.

     1.00 %      10/31/16        Open        653,363        653,907      Corporate Bonds     Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      11/03/16        Open        678,000        678,520      Capital Trusts     Open/Demand   

RBC Capital Markets LLC

     1.00 %      11/03/16        Open        171,270        171,403      Corporate Bonds     Open/Demand   

RBC Capital Markets LLC

     0.95 %      11/04/16        Open        377,540        377,769      Corporate Bonds     Open/Demand   

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    41

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Reverse Repurchase Agreements (concluded)                          
Counterparty   Interest
Rate		     Trade
Date		     Maturity
Date1		     Face Value     Face Value
Including
Accrued
Interest		     Type of  Non-Cash
Underlying
Collateral		     Remaining
Contractual
Maturity of
the Agreements1		  

Deutsche Bank Securities, Inc.

     1.15 %      11/07/16        Open      $ 371,000      $ 371,261        Corporate Bonds        Open/Demand   

HSBC Securities (USA), Inc.

     0.65 %      11/09/16        12/13/16        1,951,000        1,951,599       
 
 		 U.S. Government
Sponsored
Agency Securities		   
  
  		     Up to 30 Days   

Deutsche Bank Securities, Inc.

     1.15 %      11/09/16        Open        569,000        569,309        Capital Trusts        Open/Demand   

BNP Paribas Securities Corp.

     1.05 %      11/10/16        Open        530,000        530,247        Corporate Bonds        Open/Demand   

BNP Paribas Securities Corp.

     1.05 %      11/10/16        Open        2,207,000        2,208,030        Corporate Bonds        Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      11/10/16        Open        427,000        427,218        Corporate Bonds        Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      11/10/16        Open        1,832,000        1,832,936        Corporate Bonds        Open/Demand   

Barclays Capital, Inc.

     0.25 %      11/14/16        Open        81,420        81,429        Corporate Bonds        Open/Demand   

RBC Capital Markets LLC

     0.75 %      11/14/16        Open        190,740        190,800        Corporate Bonds        Open/Demand   

RBC Capital Markets LLC

     0.95 %      11/14/16        Open        191,200        191,276        Corporate Bonds        Open/Demand   

RBC Capital Markets LLC

     1.10 %      11/14/16        Open        1,573,500        1,574,221        Corporate Bonds        Open/Demand   

RBC Capital Markets LLC

     0.95 %      11/17/16        Open        252,000        252,067        Corporate Bonds        Open/Demand   

Credit Suisse Securities (USA) LLC

     (0.50 %)      11/21/16        Open        1,037,500        1,037,370        Capital Trusts        Open/Demand   

Deutsche Bank Securities, Inc.

     1.15 %      11/21/16        Open        181,873        181,934        Corporate Bonds        Open/Demand   

Barclays Capital, Inc.

     1.00 %      11/23/16        Open        3,302,813        3,303,363        Capital Trusts        Open/Demand   

Barclays Capital, Inc.

     1.25 %      11/23/16        Open        911,550        911,740        Corporate Bonds        Open/Demand   

Barclays Capital, Inc.

     1.25 %      11/23/16        Open        1,204,970        1,205,221        Capital Trusts        Open/Demand   

RBC Capital Markets LLC

     1.00 %      11/25/16        Open        302,250        302,267        Corporate Bonds        Open/Demand   

HSBC Securities (USA), Inc.

     0.95 %      11/29/16        Open        165,000        165,000        Corporate Bonds        Open/Demand   

Total

  

   $ 254,769,289      $ 255,798,906       
       

 

 

      

1    Certain agreements have no stated maturity and can be terminated by either party at any time.

       

  

 

                
42   

BLACKROCK LIMITED DURATION INCOME TRUST

  

NOVEMBER 30, 2016

  

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

 

Derivative Financial Instruments Outstanding as of Period End

 

Futures Contracts                             
Contracts
Long
(Short)		      Issue   Expiration   Notional
Value		    

Unrealized
Appreciation

(Depreciation)

  
(1)      Euro BOBL   December 2016     USD        139,296      $ 561   
(2)      Euro Bund Futures   December 2016     USD        341,399        4,397   
(5)      2-Year U.S. Treasury Note   March 2017     USD        1,084,062        (320 ) 
264      5-Year U.S. Treasury Note   March 2017     USD        31,110,750        (100,244 ) 
(526)      10-Year U.S. Treasury Note   March 2017     USD        65,495,219        323,239   
(66)      10-Year U.S. Ultra Long Treasury Note   March 2017     USD        8,872,875        (21,418 ) 
(82)      Long U.S. Treasury Bond   March 2017     USD        12,405,063        37,869   
7      Ultra Long U.S. Treasury Bond   March 2017     USD        1,129,844        (1,614 ) 

Total

  

   $ 242,470   
            

 

 

  

 

Forward Foreign Currency Exchange Contracts  
Currency
Purchased		     Currency
Sold		     Counterparty   Settlement
Date		     Unrealized
Appreciation
(Depreciation)		  
BRL     8,378,412      USD     2,466,633      BNP Paribas S.A.     12/02/16      $ 10,685   
BRL     5,059,462      USD     1,584,300      Goldman Sachs International     12/02/16        (88,325 ) 
BRL     3,515,720      USD     1,035,040      Goldman Sachs International     12/02/16        4,483   
BRL     5,682,752      USD     1,673,021      Goldman Sachs International     12/02/16        7,247   
BRL     5,713,303      USD     1,682,016      Goldman Sachs International     12/02/16        7,286   
BRL     16,615,082      USD     5,281,000      Morgan Stanley & Co. International PLC     12/02/16        (368,275 ) 
USD     2,471,508      BRL     8,378,412      BNP Paribas S.A.     12/02/16        (5,810 ) 
USD     1,029,795      BRL     3,515,720      Goldman Sachs International     12/02/16        (9,728 ) 
USD     1,716,325      BRL     5,682,752      Goldman Sachs International     12/02/16        36,057   
USD     1,647,672      BRL     5,713,303      Goldman Sachs International     12/02/16        (41,630 ) 
USD     1,489,523      BRL     5,059,462      Goldman Sachs International     12/02/16        (6,452 ) 
USD     4,891,537      BRL     16,615,082      Morgan Stanley & Co. International PLC     12/02/16        (21,189 ) 
USD     818,651      CAD     1,097,000      Deutsche Bank AG     12/05/16        1,988   
USD     4,513,992      EUR     4,119,000      Goldman Sachs International     12/05/16        148,047   
USD     57,606      EUR     52,000      Morgan Stanley & Co. International PLC     12/05/16        2,489   
USD     10,698,293      EUR     9,762,000      UBS AG     12/05/16        351,036   
USD     2,653,398      GBP     2,181,000      HSBC Bank PLC     12/05/16        (75,571 ) 
USD     363,763      GBP     299,000      HSBC Bank PLC     12/05/16        (10,360 ) 
USD     10,197,191      GBP     8,384,000      Royal Bank of Scotland PLC     12/05/16        (293,262 ) 
EUR     1,405,000      USD     1,584,689      Citibank N.A.     12/08/16        (95,311 ) 
USD     1,527,094      EUR     1,440,000      Barclays Bank PLC     12/08/16        614   
USD     1,561,782      EUR     1,405,000      Goldman Sachs International     12/08/16        72,404   
AUD     2,025,000      CAD     2,073,468      BNP Paribas S.A.     12/15/16        (48,937 ) 
AUD     4,150,000      CAD     4,165,907      Citibank N.A.     12/15/16        (38,179 ) 
AUD     1,650,000      CAD     1,637,455      Citibank N.A.     12/15/16        (1,131 ) 
AUD     2,025,000      CAD     2,021,280      JPMorgan Chase Bank N.A.     12/15/16        (10,081 ) 
AUD     2,035,000      CAD     2,008,114      Royal Bank of Canada     12/15/16        7,104   
CAD     1,657,374      AUD     1,650,000      Bank of America N.A.     12/15/16        15,961   
CAD     2,055,239      AUD     2,090,000      JPMorgan Chase Bank N.A.     12/15/16        (12,617 ) 
CAD     4,161,450      AUD     4,060,000      JPMorgan Chase Bank N.A.     12/15/16        101,297   

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    43

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Forward Foreign Currency Exchange Contracts (concluded)  
Currency
Purchased		     Currency
Sold		     Counterparty   Settlement
Date		     Unrealized
Appreciation
(Depreciation)		  
CAD     2,093,662      AUD     2,025,000      JPMorgan Chase Bank N.A.     12/15/16      $ 63,971   
CAD     2,082,322      AUD     2,060,000      The Toronto-Dominion Bank     12/15/16        29,692   
CAD     2,187,642      EUR     1,470,000      Bank of America N.A.     12/15/16        69,831   
CHF     1,610,000      JPY     170,953,664      JPMorgan Chase Bank N.A.     12/15/16        89,659   
EUR     2,860,000      CAD     4,126,431      UBS AG     12/15/16        (39,224 ) 
JPY     168,410,025      CHF     1,610,000      UBS AG     12/15/16        (111,907 ) 
RUB     55,280,800      USD     860,000      Deutsche Bank AG     12/15/16        (292 ) 
RUB     33,144,486      USD     516,000      Deutsche Bank AG     12/15/16        (549 ) 
RUB     9,256,320      USD     144,000      JPMorgan Chase Bank N.A.     12/15/16        (49 ) 
USD     688,000      RUB     45,153,440      Deutsche Bank AG     12/15/16        (14,210 ) 
EUR     1,584,000      USD     1,705,650      Goldman Sachs International     12/21/16        (25,169 ) 
INR     157,873,000      USD     2,350,000      JPMorgan Chase Bank N.A.     12/21/16        (52,195 ) 
JPY     175,049,487      USD     1,584,000      Deutsche Bank AG     12/21/16        (52,296 ) 
USD     1,752,639      EUR     1,584,000      Goldman Sachs International     12/21/16        72,158   
USD     2,350,000      INR     157,920,000      Nomura International PLC     12/21/16        51,511   
USD     1,584,000      JPY     165,256,819      Goldman Sachs International     12/21/16        137,983   
INR     159,494,500      USD     2,350,000      UBS AG     12/23/16        (29,135 ) 
USD     2,350,000      INR     157,943,500      JPMorgan Chase Bank N.A.     12/23/16        51,704   
CAD     2,080,000      JPY     157,499,056      Citibank N.A.     12/28/16        170,063   
EUR     1,405,000      ZAR     21,737,030      Deutsche Bank AG     12/28/16        (44,799 ) 
EUR     1,405,000      ZAR     21,185,106      Goldman Sachs International     12/28/16        (5,797 ) 
EUR     1,405,000      ZAR     21,253,280      Northern Trust Co.     12/28/16        (10,614 ) 
GBP     1,480,000      USD     1,830,057      Goldman Sachs International     12/28/16        23,287   
JPY     163,591,376      CAD     2,080,000      Citibank N.A.     12/28/16        (116,727 ) 
USD     1,537,844      GBP     1,230,000      Credit Suisse International     12/28/16        (2,435 ) 
USD     1,551,833      GBP     1,270,000      Royal Bank of Canada     12/28/16        (38,536 ) 
ZAR     21,542,429      EUR     1,405,000      Barclays Bank PLC     12/28/16        31,047   
ZAR     21,596,958      EUR     1,405,000      BNP Paribas S.A.     12/28/16        34,901   
ZAR     22,139,337      EUR     1,405,000      Citibank N.A.     12/28/16        73,228   
BRL     8,459,601      USD     2,471,508      BNP Paribas S.A.     1/04/17        6,165   
USD     10,192,659      EUR     9,587,000      Barclays Bank PLC     1/05/17        12,221   
USD     4,380,507      EUR     4,119,000      Goldman Sachs International     1/05/17        6,540   
USD     2,303,825      GBP     1,844,000      Bank of America N.A.     1/05/17        (5,990 ) 
USD     373,560      GBP     299,000      Bank of America N.A.     1/05/17        (971 ) 
USD     10,470,316      GBP     8,384,000      Royal Bank of Scotland PLC     1/05/17        (31,579 ) 
RUB     55,638,904      USD     860,000      Deutsche Bank AG     1/13/17        26   
USD     3,120,000      CAD     4,186,363      UBS AG     1/18/17        1,762   
MXN     11,108,408      USD     590,000      Citibank N.A.     2/03/17        (54,233 ) 
USD     1,490,000      MXN     30,527,205      Citibank N.A.     2/03/17        17,649   
USD     980,000      MXN     18,009,891      HSBC Bank PLC     2/03/17        111,369   
USD     3,600,000      MXN     69,307,848      JPMorgan Chase Bank N.A.     2/03/17        257,228   
Total       $ 315,128   
           

 

 

  

 

                
44   

BLACKROCK LIMITED DURATION INCOME TRUST

    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

OTC Options Purchased                                                      
Description   Put/
Call		     Counterparty     Expiration
Date		     Strike
Price		     Notional
Amount
(000)		     Contracts     Value  

EUR Currency

     Call        BNP Paribas S.A.        12/01/16        CAD        1.49        EUR        12,910        —        —   

EUR Currency

     Call        Morgan Stanley & Co. International PLC        12/01/16        CAD        1.47        EUR        8,610        —        —   

EUR Currency

     Call        Deutsche Bank AG        12/06/16        USD        1.13        EUR        7,820        —      $ 8   

EUR Currency

     Call        BNP Paribas S.A.        12/12/16        CAD        1.48        EUR        8,415        —        7,536   

AUD Currency

     Call        Deutsche Bank AG        12/13/16        CAD        1.04        AUD        8,305        —        368   

USD Currency

     Call        Deutsche Bank AG        12/20/16        CHF        1.03        USD        6,180        —        47,895   

EUR Currency

     Call        Deutsche Bank AG        12/22/16        ZAR        16.20        EUR        5,570        —        15,738   

GBP Currency

     Call        Deutsche Bank AG        12/29/16        USD        1.35        GBP        4,800        —        330   

EUR Currency

     Call        Barclays Bank PLC        12/30/16        USD        1.07        EUR        8,770        —        90,347   

Marsico Parent Superholdco LLC

     Call        Goldman Sachs & Co.        12/14/19        USD        942.86          —        46        —   

EUR Currency

     Put        Deutsche Bank AG        12/06/16        USD        1.10        EUR        7,820        —        335,010   

NZD Currency

     Put        Morgan Stanley & Co. International PLC        12/19/16        USD        0.69        NZD        8,740        —        13,884   

NZD Currency

     Put        Morgan Stanley & Co. International PLC        12/19/16        JPY        75.50        NZD        13,110        —        5,162   

EUR Currency

     Put        Citibank N.A.        12/20/16        JPY        117.00        EUR        8,715        —        31,525   

GBP Currency

     Put        Deutsche Bank AG        12/22/16        USD        1.23        GBP        4,815        —        26,695   

GBP Currency

     Put        HSBC Bank PLC        12/22/16        USD        1.27        GBP        7,185        —        160,946   

CAD Currency

     Put        BNP Paribas SA        12/23/16        JPY        75.10        CAD        12,340        —        413   

GBP Currency

     Put        Royal Bank of Scotland PLC        12/29/16        USD        1.26        GBP        4,800        —        82,417   

USD Currency

     Put        JPMorgan Chase Bank N.A.        2/01/17        MXN        17.06        USD        14,215        —        57   

Total

                   $ 818,331   
                 

 

 

  

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    45

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

OTC Options Written  
Description   Put/
Call		     Counterparty   Expiration
Date		     Strike
Price		     Notional
Amount
(000)		     Value  

EUR Currency

     Call      Morgan Stanley & Co. International PLC     12/01/16        CAD        1.49        EUR        12,910        —   

EUR Currency

     Call      Barclays Bank PLC     12/07/16        USD        1.07        EUR        8,770      $ (54,933 ) 

EUR Currency

     Call      BNP Paribas S.A.     12/12/16        USD        1.50        EUR        12,625        (3,961 ) 

USD Currency

     Call      Deutsche Bank AG     12/20/16        USD        1.04        USD        6,180        (28,094 ) 

EUR Currency

     Call      Deutsche Bank AG     12/22/16        ZAR        16.60        EUR        5,570        (7,574 ) 

GBP Currency

     Call      Royal Bank of Scotland PLC     12/29/16        USD        1.35        GBP        4,800        (330 ) 

USD Currency

     Call      JPMorgan Chase Bank N.A.     2/01/17        MXN        21.22        USD        14,215        (202,137 ) 

EUR Currency

     Put      Deutsche Bank AG     12/06/16        USD        1.09        EUR        11,175        (370,498 ) 

NZD Currency

     Put      Morgan Stanley & Co. International PLC     12/19/16        USD        0.67        NZD        17,475        (5,037 ) 

NZD Currency

     Put      Morgan Stanley & Co. International PLC     12/19/16        JPY        74.00        NZD        13,110        (1,560 ) 

EUR Currency

     Put      Citibank N.A.     12/20/16        JPY        115.00        EUR        12,205        (20,102 ) 

GBP Currency

     Put      Bank of America N.A.     12/22/16        USD        1.18        GBP        4,815        (1,735 ) 

GBP Currency

     Put      HSBC Bank PLC     12/22/16        USD        1.26        GBP        8,630        (148,535 ) 

CAD Currency

     Put      BNP Paribas S.A.     12/23/16        JPY        73.60        CAD        12,340        (92 ) 

GBP Currency

     Put      Deutsche Bank AG     12/29/16        USD        1.26        GBP        4,800        (81,637 ) 

Total

  

   $ (926,225 ) 
               

 

 

  

 

Centrally Cleared Credit Default Swaps — Sell Protection  
Index          Receive
Fixed
Rate		     Expiration
Date		     Credit Rating1     Notional
Amount
(000)2		     Unrealized
Appreciation
(Depreciation)		  

Markit CDX North America High Yield Index, Series 27, Version 1

     5.00 %      12/20/21        B+        USD        2,300      $ 19,865   

Markit iTraxx XO, Series 26, Version 1

     5.00 %      12/20/21        B        EUR        80        (565 ) 

Total

             $ 19,300   
           

 

 

  

1    Using Standard & Poor’s (“S&P’s”) rating of the issuer or the underlying securities of the index, as applicable.

       

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

       

 

Centrally Cleared Interest Rate Swaps  
Fixed
Rate		   

Floating
Rate

  

Effective
Date

    

Expiration
Date

    

Notional
Amount
(000)

    

Unrealized
Appreciation
(Depreciation)

  
2.54%1    3-Month LIBOR     N/A        9/04/24        USD        18,700      $

 

  

661,946

   

  

2.60%2    3-Month LIBOR     N/A        9/04/24        USD        18,700        (664,106 ) 
Total              $ (2,160 ) 
            

 

 

  

1    Fund pays a floating rate and receives the fixed rate.

       

2    Fund pays a fixed rate and receives the floating rate.

       

 

                
46    BLACKROCK LIMITED DURATION INCOME TRUST   

NOVEMBER 30, 2016

  

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

OTC Credit Default Swaps — Buy Protection                                
Issuer/Index      Pay
Fixed Rate		  
Counterparty		   Expiration
Date		    

Notional
Amount
(000)

    
Value		     Premiums
Paid		     Unrealized
Depreciation		  

Australia & New Zealand Banking Group Ltd.

      1.00%   Deutsche Bank AG     9/20/17        USD        1      $ (4 )    $ 3      $ (7 ) 

Westpac Banking Corp.

      1.00%   Deutsche Bank AG     9/20/17        USD        1        (4 )      3        (7 ) 

Federation of Russia

      1.00%   Bank of America N.A.     12/20/21        USD        215        12,128        12,832        (704 ) 

Federation of Russia

      1.00%   Bank of America N.A.     12/20/21        USD        210        11,846        12,533        (687 ) 

Federation of Russia

      1.00%   Bank of America N.A.     12/20/21        USD        130        7,333        7,759        (426 ) 

Federation of Russia

      1.00%   Bank of America N.A.     12/20/21        USD        210        11,846        12,540        (694 ) 

Federation of Russia

      1.00%   Bank of America N.A.     12/20/21        USD        215        12,128        12,745        (617 ) 

Federation of Russia

      1.00%   Bank of America N.A.     12/20/21        USD        210        11,846        12,448        (602 ) 

Federation of Russia

      1.00%   JPMorgan Chase Bank N.A.     12/20/21        USD        1,150        64,871        66,217        (1,346 ) 

Total

                $ 131,990      $ 137,080      $ (5,090 ) 

 

OTC Credit Default Swaps — Sell Protection                                      
Issuer/Index   Receive
Fixed
Rate		    
Counterparty		     Expiration
Date		     Credit
Rating1		    

Notional
Amount
(000)2

   
Value		     Premiums
Paid
(Received)		    

Unrealized

Appreciation
(Depreciation)

  

CNH Industrial NV

     5.00%        BNP Paribas S.A.        12/20/20        BB+        EUR        21      $ 2,915      $ 2,019      $ 896   

Markit CMBX North America,Series 8

     3.00%        Barclays Bank PLC       10/17/57        BBB-        USD        5,000        (823,013 )      (527,168 )      (295,845 ) 

Markit CMBX North America, Series 8

     3.00%        Credit Suisse International        10/17/57        BBB-        USD        2,500        (411,507 )      (260,436 )      (151,071 ) 

Total

               $ (1,231,605 )    $ (785,585 )    $ (446,020 ) 

1    Using Standard & Poor’s (“S&P’s”) rating of the issuer or the underlying securities of the index, as applicable.

       

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

       

 

Portfolio Abbreviations

 

ABS    Asset-Backed Security
AUD    Australian Dollar
BRL    Brazilian Real
CAD    Canadian Dollar
CHF    Swiss Franc
CLO    Collateralized Loan Obligation
DIP    Debtor-In-Possession
ETF    Exchange-Traded Fund
EUR    Euro

 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    47

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

GBP    British Pound
INR    Indian Rupee
JPY    Japanese Yen
LOC    Letter of Credit
MXN    Mexican Peso
NZD    New Zealand Dollar
OTC    Over-the-Counter
PIK    Payment-In-Kind
RUB    Russian Ruble
USD    U.S. Dollar
ZAR    South African Rand

 

 

                
48    BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016   

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

Fair Value Hierarchy as of Period End

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

 

  •  

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

 

  •  

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

 

  •  

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 Investments include equity or debt issued by privately-held companies. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

Changes in valuation methodologies may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments, refer to the Fund’s most recent financial statements as contained in its annual report.

The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

     Level 1     Level 2     Level 3     Total  

Assets:

        
Investments:        

Long-Term Investments:

        

Asset-Backed Securities

     —      $ 75,136,398      $ 9,801,987      $ 84,938,385   

Common Stocks

   $ 256,423        166,089        1,743,097        2,165,609   

Corporate Bonds

     —        374,161,910        1,169,695        375,331,605   

Floating Rate Loan Interests

     —        221,353,901        13,449,823        234,803,724   

Foreign Agency Obligations

     —        29,227,298        —        29,227,298   

Non-Agency Mortgage-Backed Securities

     —        72,275,710        —        72,275,710   

Other Interests

     —        193,619        10        193,629   

Preferred Securities

     11,590,645        52,839,291        —        64,429,936   

U.S. Government Sponsored Agency Securities

     —        5,735,468        —        5,735,468   

U.S. Treasury Obligations

     —        4,475,585        —        4,475,585   

Warrants

     —        —        3,791        3,791   

Unfunded Floating Rate Loan Interests1

     —        1,431        —        1,431   

Short-Term Securities

     5,472,617        —        —        5,472,617   

 

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    49

Schedule of Investments (continued)

   

BlackRock Limited Duration Income Trust (BLW)

 

 

     Level 1        Level 2        Level 3        Total  

Assets:

                 
Investments:                 

Long-Term Investments:

                 

Options Purchased:

                 

Foreign currency exchange contracts

     —         $ 818,331           —         $ 818,331   
 

 

 

  

Subtotal

   $ 17,319,685         $ 836,385,031         $ 26,168,403         $ 879,873,119   
 

 

 

  

Investments valued at NAV2

                    108,163   
                

 

 

  

Total

                  $ 879,981,282   
                

 

 

  
                
     Level 1        Level 2        Level 3        Total  
Derivative Financial Instruments 3                 

Assets:

                 

Credit contracts

     —         $ 20,761           —         $ 20,761   

Foreign currency exchange contracts

     —           2,078,693           —           2,078,693   

Interest rate contracts

   $ 366,066           661,946           —           1,028,012   

Liabilities:

                 

Credit contracts

     —           (452,571 )         —           (452,571 ) 

Foreign currency exchange contracts

     —           (2,689,790 )         —           (2,689,790 ) 

Interest rate contracts

     (123,596 )         (664,106 )         —           (787,702 ) 
 

 

 

  

Total

   $ 242,470         $ (1,045,067 )         —         $ (802,597 ) 
 

 

 

  

 

  1   

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

  2   

As of November 30, 2016, certain of the Fund’s investments were fair valued using net asset value (“NAV”) per share as no quoted market value is available and have been excluded from the fair value hierarchy.

  3   

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.

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1     Level 2     Level 3     Total  

Assets:

        

Cash

   $ 279,389        —        —      $ 279,389   

Cash pledged:

        

Centrally cleared swaps

     2,170        —        —        2,170   

Futures contracts

     1,087,201        —        —        1,087,201   

OTC — derivatives

     1,680,000        —        —        1,680,000   

Reverse repurchase agreements

     2,006,000        —        —        2,006,000   

Foreign currency at value

     3,576,109        —        —        3,576,109   

Liabilities:

        

Cash received as collateral for reverse repurchase agreements

     —      $ (508,000 )      —        (508,000 ) 

Reverse repurchase agreements

     —        (255,798,906 )      —        (255,798,906 ) 
 

 

 

  

Total

   $ 8,630,869      $ (256,306,906 )      —      $ (247,676,037 ) 
 

 

 

  

 

 

                
50    BLACKROCK LIMITED DURATION INCOME TRUST    November 30, 2016   

Schedule of Investments (concluded)

   

BlackRock Limited Duration Income Trust (BLW)

 

During the period ended November 30, 2016, there were no transfers between Level 1 and Level 2.

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

 

     Asset-Backed
Securities		        Common
Stocks		        Corporate
Bonds		        Floating
Rate Loan
Interests		        Other
Interests		        Warrants        Total  

Assets:

                                

Opening balance, as of August 31, 2016

   $ 18,351,873         $ 1,167,006         $ 1,163,250         $ 12,230,322         $ 193,629         $ 6,316         $ 33,112,396   

Transfers into Level 31

     —             —             —             7,135,601           —             —             7,135,601   

Transfers out of Level 32

     —             —             —             (5,567,937 )         (193,619 )         —             (5,761,556 ) 

Accrued discounts/premiums

     (30,142 )         —             350           8,566           —             —             (21,226 ) 

Net realized gain (loss)

     (675,371 )         —             —             (291,387 )         —             —             (966,758 ) 

Net change in unrealized

appreciation (depreciation)3

     1,634,029           576,091           6,095           483,418           —             (2,525 )         2,697,108   

Purchases

     3,032,587           —             —             1,763,505           —             —             4,796,092   

Sales

     (12,510,989 )         —             —             (2,312,265 )         —             —             (14,823,254 ) 

Closing balance, as of November 30, 2016

   $ 9,801,987         $ 1,743,097         $ 1,169,695         $ 13,449,823         $ 10         $ 3,791         $ 26,168,403   

Net change in unrealized appreciation (depreciation) on investments still held at November 30, 20163

   $ 95,028         $ 576,091         $ 6,095         $ 194,022           —           $ (2,525 )       $ 868,711   

1    As of August 31, 2016, the Fund used observable inputs in determining the value of certain investments. As of November 30, 2016, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy.

         

2    As of August 31, 2016, the Fund used significant unobservable inputs in determining the value of certain investments. As of November 30, 2016, the Fund used observable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy.

         

3    Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at November 30, 2016 is generally due to investments no longer held or categorized as Level 3 at period end.

        

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

 

                
   BLACKROCK LIMITED DURATION INCOME TRUST    NOVEMBER 30, 2016    51

Item 2 –   Controls and Procedures
2(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.
2(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 registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3 –   Exhibits
  Certifications – Attached hereto

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 Limited Duration Income Trust
By:       /s/ John M. Perlowski                    
  John M. Perlowski
  Chief Executive Officer (principal executive officer) of BlackRock Limited Duration Income Trust

Date: January 23, 2017

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 Limited Duration Income Trust

Date: January 23, 2017

 

By:       /s/ Neal J. Andrews                        
  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of BlackRock Limited Duration Income Trust

Date: January 23, 2017