NPORT-EX 2 NPORT_D2I7_83427645_0925.htm EDGAR HTML
September 30, 2025 
2025 Quarterly Report
(Unaudited)
 
BlackRock Limited Duration Income Trust (BLW)
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
 
Security
 
Par
(000)
Value
Asset-Backed Securities
AIMCO CLO Ltd., Series 2018-BA, Class CRR, (3-mo.
CME Term SOFR + 2.40%), 6.72%, 04/16/37(a)(b)
USD
500
$ 503,620
Anchorage Capital CLO Ltd., Series 2015-7A,
Class DR3, (3-mo. CME Term SOFR + 3.80%),
8.11%, 04/28/37(a)(b)
 
1,000
1,006,673
Apidos CLO XVIII-R(a)(b)
 
Series 2018-18A, Class A1R2, (3-mo. CME Term
SOFR + 1.33%), 5.66%, 01/22/38
 
2,255
2,264,318
Series 2018-18A, Class BR2, (3-mo. CME Term
SOFR + 1.70%), 6.03%, 01/22/38
 
1,353
1,359,805
Argent Securities Trust, Series 2006-W5, Class A1, (1-
mo. Term SOFR + 0.41%), 4.57%, 06/25/36(a)
 
3,640
2,416,970
Bain Capital Credit CLO Ltd., Series 2021-3A, Class D,
(3-mo. CME Term SOFR + 3.36%), 7.68%,
07/24/34(a)(b)
 
250
249,062
Ballyrock CLO Ltd.(a)(b)
 
Series 2020-14AR, Class DR, (3-mo. CME Term
SOFR + 5.85%), 10.18%, 07/20/37
 
250
250,851
Series 2024-28A, Class A2, (3-mo. CME Term SOFR
+ 1.70%), 6.03%, 01/20/38
 
750
752,625
Bryant Park Funding Ltd., Series 2024-22A, Class C,
(3-mo. CME Term SOFR + 2.60%), 6.92%,
04/15/37(a)(b)
 
800
805,779
CarVal CLO II Ltd., Series 2019-1A, Class AR2, (3-mo.
CME Term SOFR + 1.02%), 5.35%, 04/20/32(a)(b)
 
1,537
1,538,307
Cayuga Park CLO Ltd., Series 2020-1A, Class B1R,
(3-mo. CME Term SOFR + 1.91%), 6.19%,
07/17/34(a)(b)
 
250
250,415
Cedar Funding XIV CLO Ltd., Series 2021-14A,
Class B1R, (3-mo. CME Term SOFR + 1.70%),
6.02%, 10/15/37(a)(b)
 
500
501,405
Cedar Funding XV CLO Ltd., Series 2022-15A, Class B,
(3-mo. CME Term SOFR + 1.80%), 6.13%,
04/20/35(a)(b)
 
450
451,224
CIFC Funding Ltd.(a)(b)
 
Series 2017-1A, Class CRR, (3-mo. CME Term SOFR
+ 2.45%), 6.78%, 04/21/37
 
550
553,888
Series 2018-1A, Class A1R, (3-mo. CME Term SOFR
+ 1.32%), 5.59%, 01/18/38
 
1,804
1,809,412
Series 2018-1A, Class BR, (3-mo. CME Term SOFR +
1.70%), 5.97%, 01/18/38
 
2,255
2,264,336
Series 2019-1A, Class D1R2, (3-mo. CME Term
SOFR + 3.05%), 7.38%, 10/20/37
 
500
504,234
Series 2022-7A, Class ER, (3-mo. CME Term SOFR +
5.35%), 9.68%, 01/22/38
 
500
506,305
Citigroup Mortgage Loan Trust, Series 2006-FX1,
Class A7, 7.28%, 10/25/36
 
291
168,058
Concord Music Royalties LLC, Series 2024-1A, Class A,
5.64%, 10/20/74(b)
 
272
274,048
Creeksource Dunes Creek CLO Ltd., Series 2024-1A,
Class A1, (3-mo. CME Term SOFR + 1.41%), 5.73%,
01/15/38(a)(b)
 
500
502,171
CWABS Asset-Backed Certificates Trust, Series 2006-
26, Class 1A, (1-mo. Term SOFR + 0.39%), 4.55%,
06/25/37(a)
 
414
390,039
Dryden CLO Ltd., Series 2018-64A, Class D, (3-mo.
CME Term SOFR + 2.91%), 7.24%, 04/18/31(a)(b)
 
250
251,858
GoldenTree Loan Management U.S. CLO Ltd.,
Series 2021-11A, Class AR, (3-mo. CME Term SOFR
+ 1.08%), 5.41%, 10/20/34(a)(b)
 
280
280,225
Security
 
Par
(000)
Value
Asset-Backed Securities (continued)
GoodLeap Home Improvement Solutions Trust,
Series 2025-1A, Class B, 6.27%, 02/20/49(b)
USD
270
$ 276,076
GreenSky Home Improvement Issuer Trust,
Series 2024-2, Class C, 5.55%, 10/27/59(b)
 
100
101,008
Lyra Music Assets Delaware LP, Series 2025-1A,
Class A2, 5.60%, 09/20/65(b)
 
293
296,301
Madison Park Funding XXXVII Ltd., Series 2019-37A,
Class BR2, (3-mo. CME Term SOFR + 1.95%),
6.27%, 04/15/37(a)(b)
 
875
879,078
Madison Park Funding XXXVIII Ltd., Series 2021-38A,
Class B, (3-mo. CME Term SOFR + 1.91%), 6.19%,
07/17/34(a)(b)
 
250
250,475
Mariner Finance Issuance Trust, Series 2024-AA,
Class E, 9.02%, 09/22/36(b)
 
497
515,920
Nelnet Student Loan Trust, Series 2025-BA, Class D,
6.04%, 05/17/55(b)
 
801
806,602
OCP CLO Ltd.(a)(b)
 
Series 2019-16A, Class DR, (3-mo. CME Term SOFR
+ 3.41%), 7.74%, 04/10/33
 
250
250,823
Series 2024-38A, Class A, (3-mo. CME Term SOFR +
1.33%), 5.66%, 01/21/38
 
1,000
1,003,018
Octagon 54 Ltd., Series 2021-1A, Class D, (3-mo. CME
Term SOFR + 3.31%), 7.63%, 07/15/34(a)(b)
 
250
249,983
Octagon Investment Partners XVII Ltd., Series 2013-1A,
Class BR2, (3-mo. CME Term SOFR + 1.66%),
5.98%, 01/25/31(a)(b)
 
250
250,450
OZLM XXI Ltd., Series 2017-21A, Class D, (3-mo. CME
Term SOFR + 5.80%), 10.13%, 01/20/31(a)(b)
 
250
240,042
Palmer Square CLO Ltd., Series 2024-4A, Class B, (3-
mo. CME Term SOFR + 1.65%), 5.97%, 01/15/38(a)(b)
 
1,520
1,527,965
Regatta 30 Funding Ltd., Series 2024-4A, Class B, (3-
mo. CME Term SOFR + 1.65%), 5.97%, 01/25/38(a)(b)
 
1,600
1,604,208
Regatta XVIII Funding Ltd., Series 2021-1A, Class BR,
(3-mo. CME Term SOFR + 1.55%), 5.87%,
04/15/38(a)(b)
 
300
300,645
Regatta XXIV Funding Ltd., Series 2021-5A, Class D1R,
(3-mo. CME Term SOFR + 2.80%), 7.13%,
01/20/38(a)(b)
 
250
252,453
Regional Management Issuance Trust, Series 2021-3,
Class A, 3.88%, 10/17/33(b)(c)
 
980
949,424
Rockford Tower CLO Ltd.(a)(b)
 
Series 2017-2A, Class DR, (3-mo. CME Term SOFR +
3.11%), 7.43%, 10/15/29
 
500
500,012
Series 2021-3A, Class A1R, (3-mo. CME Term SOFR
+ 1.40%), 5.72%, 01/15/38
 
2,977
2,989,190
RR Ltd., Series 2022-24A, Class A1A2, (3-mo. CME
Term SOFR + 1.31%), 5.63%, 01/15/37(a)(b)
 
250
250,968
Service Experts Issuer LLC, Series 2024-1A, Class A,
6.39%, 11/20/35(b)
 
168
171,955
Sterling COOFS Trust(b)(c)
 
Series 2004-1, Class A, 2.36%, 04/15/29
 
607
—
Series 2004-2, Class Note, 2.08%, 03/30/30
 
382
—
Subway Funding LLC, Series 2024-1A, Class A2I,
6.03%, 07/30/54(b)
 
293
296,829
Symphony CLO Ltd., Series 2023-40A, Class AR, (3-mo.
CME Term SOFR + 1.31%), 5.63%, 01/05/38(a)(b)
 
500
501,930
Trimaran CAVU Ltd.(a)(b)
 
Series 2021-1A, Class D1R, (3-mo. CME Term SOFR
+ 3.40%), 7.72%, 07/23/37
 
250
251,133
Series 2021-2A, Class D1, (3-mo. CME Term SOFR +
3.51%), 7.83%, 10/25/34
 
500
502,302
2
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Asset-Backed Securities (continued)
Unique Pub Finance Co. PLC, Series 02, Class N,
6.46%, 03/30/32(d)
GBP
20
$ 28,485
Upgrade Master Pass-Thru Trust, Series 2025-ST4,
Class A, 5.50%, 08/16/32(b)
USD
262
262,847
UPX HIL Issuer Trust, Series 2025-1, Class A, 5.16%,
01/25/47(b)
 
452
453,900
Voya CLO Ltd., Series 2019-3A, Class BR, (3-mo. CME
Term SOFR + 1.91%), 6.19%, 10/17/32(a)(b)
 
500
500,500
Whitebox CLO II Ltd., Series 2020-2A, Class D1R2, (3-
mo. CME Term SOFR + 2.90%), 7.22%, 10/24/37(a)(b)
 
500
504,080
Whitebox CLO III Ltd., Series 2021-3A, Class DR, (3-mo.
CME Term SOFR + 2.85%), 7.17%, 10/15/35(a)(b)
 
250
252,004
Wireless PropCo Funding LLC, Series 2025-1A, Class B,
4.30%, 06/25/55(b)
 
870
830,506
Total Asset-Backed Securities — 6.9%
(Cost: $38,058,725)
37,906,740
 
 
 
 
Shares
 
Common Stocks
Capital Markets — 0.0%
Wom New Holdco(c)(e)
 
549
12,627
Construction & Engineering — 0.0%
Mcdermott International Ltd.(e)
 
382
7,602
Entertainment — 0.0%
Learfield Communications LLC, (Acquired 09/06/23,
Cost: $22,469)(c)(e)(f)
 
1,788
187,740
Financial Services — 0.1%
Aimbridge Acquisition Co., Inc.(c)(e)
 
6,610
426,306
Ground Transportation — 0.0%
Sirva BGRS Holdings, Inc.(e)
 
464
386
Household Products — 0.0%
Berkline Benchcraft Equity LLC(c)(e)
 
3,155
—
Industrial Conglomerates(e) — 0.0%
Ameriforge Group, Inc.(c)
 
801
—
SVP Singer
 
4,245
18,572
 
 
18,572
IT Services — 0.1%
Travelport LLC(c)(e)
 
90
271,641
Real Estate Management & Development — 0.0%
ADLER Group SA(c)(e)
 
33,168
—
Trading Companies & Distributors — 0.0%
TMK Hawk Midco Corp.(c)(e)
 
10,062
110,685
Security
 
 
Shares
Value
Transportation Infrastructure — 0.0%
Incora Top Holdco LLC(b)(c)(e)
 
9,432
$       59,233
Total Common Stocks — 0.2%
(Cost: $1,888,493)
1,094,792
 
 
 
Par
(000)
 
Corporate Bonds
Advertising Agencies — 1.1%
Clear Channel Outdoor Holdings, Inc.(b)(g)
 
7.75%, 04/15/28
USD
470
469,145
7.50%, 06/01/29
 
839
814,848
7.88%, 04/01/30
 
636
667,817
7.13%, 02/15/31
 
872
901,345
7.50%, 03/15/33
 
1,013
1,059,161
CMG Media Corp., 8.88%, 06/18/29(b)
 
188
172,663
Interpublic Group of Cos., Inc., 5.40%, 10/01/48(g)
 
200
186,604
Lamar Media Corp.
 
4.00%, 02/15/30
 
40
38,293
5.38%, 11/01/33(b)
 
209
207,463
Neptune Bidco U.S., Inc., 9.29%, 04/15/29(b)(g)
 
608
596,867
Outfront Media Capital LLC/Outfront Media Capital
Corp.(b)
 
5.00%, 08/15/27
 
88
87,558
4.25%, 01/15/29(g)
 
268
257,412
4.63%, 03/15/30(g)
 
107
102,837
7.38%, 02/15/31(g)
 
254
267,955
Stagwell Global LLC, 5.63%, 08/15/29(b)(g)
 
101
98,113
 
 
5,928,081
Aerospace & Defense — 2.5%
AAR Escrow Issuer LLC, 6.75%, 03/15/29(b)
 
303
311,916
ATI, Inc.
 
5.88%, 12/01/27(g)
 
127
127,243
4.88%, 10/01/29
 
101
99,300
7.25%, 08/15/30(g)
 
535
561,582
5.13%, 10/01/31(g)
 
215
211,587
Bombardier, Inc.(b)
 
6.00%, 02/15/28(g)
 
542
543,370
8.75%, 11/15/30(g)
 
251
270,676
7.25%, 07/01/31(g)
 
68
72,082
7.00%, 06/01/32(g)
 
254
265,477
6.75%, 06/15/33
 
337
351,679
Efesto Bidco SpA Efesto U.S. LLC, Series XR, 7.50%,
02/15/32(b)(g)
 
952
968,755
Goat Holdco LLC, 6.75%, 02/01/32(b)
 
339
347,475
Northrop Grumman Corp., 3.85%, 04/15/45(g)
 
600
487,926
Spirit AeroSystems, Inc.(b)(g)
 
9.38%, 11/30/29
 
524
551,887
9.75%, 11/15/30
 
456
501,506
TransDigm, Inc.(b)
 
6.75%, 08/15/28(g)
 
1,152
1,173,956
Schedule of Investments
3
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Aerospace & Defense (continued)
TransDigm, Inc.(b) (continued)
 
6.38%, 03/01/29(g)
USD
1,604
$ 1,639,931
6.63%, 03/01/32(g)
 
1,386
1,426,949
6.00%, 01/15/33(g)
 
944
954,462
6.38%, 05/31/33(g)
 
1,321
1,335,852
6.25%, 01/31/34
 
192
197,456
6.75%, 01/31/34(g)
 
1,355
1,401,015
 
 
13,802,082
Air Freight & Logistics(b) — 0.1%
Rand Parent LLC, 8.50%, 02/15/30
 
234
243,141
Stonepeak Nile Parent LLC, 7.25%, 03/15/32
 
114
120,046
 
 
363,187
Automobile Components — 0.9%
American Axle & Manufacturing, Inc.(b)(h)
 
10/15/32
 
151
150,745
10/15/33
 
158
159,232
Aptiv Swiss Holdings Ltd., 4.40%, 10/01/46(g)
 
240
191,793
Clarios Global LP/Clarios U.S. Finance Co.(b)
 
6.75%, 05/15/28(g)
 
839
857,531
6.75%, 02/15/30
 
359
370,851
4.75%, 06/15/31
EUR
295
352,871
6.75%, 09/15/32(g)
USD
684
699,157
Dana, Inc.
 
4.25%, 09/01/30
 
87
86,160
4.50%, 02/15/32
 
134
131,944
Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.75%,
05/31/32(b)(g)
 
112
117,488
Goodyear Tire & Rubber Co.
 
6.63%, 07/15/30
 
165
167,419
5.25%, 04/30/31
 
13
12,285
5.63%, 04/30/33
 
109
101,415
IHO Verwaltungs GmbH, (7.00% PIK), 7.00%,
11/15/31(d)(i)
EUR
100
127,085
Mahle GmbH, 6.50%, 05/02/31(d)
 
100
121,532
Qnity Electronics, Inc.(b)
 
5.75%, 08/15/32
USD
277
279,113
6.25%, 08/15/33
 
214
218,534
Schaeffler AG(d)
 
4.25%, 04/01/28
EUR
100
119,329
4.75%, 08/14/29
 
100
120,557
Tenneco, Inc., 8.00%, 11/17/28(b)
USD
453
453,827
ZF Europe Finance BV, 7.00%, 06/12/30(d)
EUR
100
121,870
 
 
4,960,738
Automobiles — 1.3%
Asbury Automotive Group, Inc., 4.50%, 03/01/28
USD
146
144,215
Aston Martin Capital Holdings Ltd.
 
10.00%, 03/31/29(b)
 
200
195,811
10.38%, 03/31/29(d)
GBP
100
130,770
Carvana Co.(b)(g)(i)
 
(9.00% PIK), 9.00%, 06/01/30
USD
693
724,655
(9.00% PIK), 9.00%, 06/01/31
 
1,557
1,763,553
Cougar JV Subsidiary LLC, 8.00%, 05/15/32(b)
 
200
212,640
General Motors Financial Co., Inc., 6.00%, 01/09/28(g)
 
1,000
1,035,756
Global Auto Holdings Ltd./AAG FH U.K. Ltd., 11.50%,
08/15/29(b)
 
200
211,000
LCM Investments Holdings II LLC(b)(g)
 
4.88%, 05/01/29
 
285
279,229
8.25%, 08/01/31
 
290
306,705
Lithia Motors, Inc., 5.50%, 10/01/30(b)
 
174
173,782
Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30(b)
 
446
446,152
Security
 
Par
(000)
Value
Automobiles (continued)
Nissan Motor Co. Ltd.
 
5.25%, 07/17/29(d)
EUR
100
$ 119,651
7.75%, 07/17/32(b)
USD
204
215,886
6.38%, 07/17/33(b)
EUR
145
175,268
8.13%, 07/17/35(b)(g)
USD
607
651,611
RCI Banque SA, (5-year EURIBOR ICE Swap + 2.20%),
4.75%, 03/24/37(a)(d)
EUR
100
119,454
Renault SA, 3.88%, 09/30/30(d)
 
100
117,227
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC,
10.00%, 01/15/31(b)
USD
232
215,968
Wabash National Corp., 4.50%, 10/15/28(b)(g)
 
146
135,461
 
 
7,374,794
Banks — 0.1%
Abanca Corp. Bancaria SA, (5-year EURIBOR ICE Swap
+ 2.45%), 4.63%, 12/11/36(a)(d)
EUR
100
120,900
Banco Espirito Santo SA(e)(j)
 
4.75%, 01/15/22(a)
 
100
25,829
4.00%, 01/21/22
 
100
25,829
Intesa Sanpaolo SpA, 5.71%, 01/15/26(b)(g)
USD
200
200,435
National Bank of Greece SA, (5-year EURIBOR ICE
Swap + 3.15%), 5.88%, 06/28/35(a)(d)
EUR
100
126,302
Walker & Dunlop, Inc., 6.63%, 04/01/33(b)
USD
143
146,239
 
 
645,534
Beverages — 0.1%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev
Worldwide, Inc., 4.90%, 02/01/46(g)
 
741
694,191
Building Materials — 1.6%
AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33(b)
 
222
231,055
Builders FirstSource, Inc.(b)
 
6.38%, 03/01/34
 
146
150,395
6.75%, 05/15/35
 
172
179,591
CP Atlas Buyer, Inc., 9.75%, 07/15/30(b)
 
68
71,216
EMRLD Borrower LP/Emerald Co-Issuer, Inc.
 
6.38%, 12/15/30(b)
EUR
160
196,251
6.38%, 12/15/30(d)
 
100
122,657
6.63%, 12/15/30(b)(g)
USD
1,931
1,984,970
6.75%, 07/15/31(b)
 
212
220,195
Jeld-Wen, Inc.(b)
 
4.88%, 12/15/27
 
240
234,206
7.00%, 09/01/32(g)
 
219
184,941
JH North America Holdings, Inc.(b)
 
5.88%, 01/31/31
 
238
241,645
6.13%, 07/31/32(g)
 
225
230,462
New Enterprise Stone & Lime Co., Inc.(b)
 
5.25%, 07/15/28
 
81
80,252
9.75%, 07/15/28
 
300
300,666
Quikrete Holdings, Inc.(b)
 
6.38%, 03/01/32(g)
 
1,202
1,245,084
6.75%, 03/01/33
 
318
330,623
Smyrna Ready Mix Concrete LLC(b)
 
6.00%, 11/01/28
 
56
56,018
8.88%, 11/15/31(g)
 
238
251,314
Standard Building Solutions, Inc.(b)(g)
 
6.50%, 08/15/32
 
633
649,471
6.25%, 08/01/33
 
625
633,366
Standard Industries, Inc.(b)
 
4.75%, 01/15/28
 
2
1,983
4.38%, 07/15/30(g)
 
519
497,607
4
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Building Materials (continued)
Standard Industries, Inc.(b) (continued)
 
3.38%, 01/15/31(g)
USD
353
$ 319,665
Wilsonart LLC, 11.00%, 08/15/32(b)
 
305
296,902
 
 
8,710,535
Building Products(b) — 0.6%
Foundation Building Materials, Inc., 6.00%, 03/01/29
 
16
16,218
Park River Holdings, Inc., 03/15/31(h)
 
165
167,091
QXO Building Products, Inc., 6.75%, 04/30/32(g)
 
893
924,609
White Cap Buyer LLC, 6.88%, 10/15/28(g)
 
1,965
1,959,163
 
 
3,067,081
Capital Markets — 1.0%
Apollo Debt Solutions BDC
 
5.88%, 08/30/30(b)
 
163
165,860
6.70%, 07/29/31
 
195
206,663
6.55%, 03/15/32(b)
 
45
47,222
ARES Strategic Income Fund
 
5.60%, 02/15/30(g)
 
125
126,220
5.80%, 09/09/30(b)
 
220
223,567
5.15%, 01/15/31(b)
 
175
172,916
Bain Capital Specialty Finance, Inc., 5.95%, 03/15/30
 
70
70,358
Blackstone Private Credit Fund, 6.00%, 11/22/34(g)
 
593
607,260
Blue Owl Capital Corp., 6.20%, 07/15/30(g)
 
480
493,585
Blue Owl Capital Corp. II, 8.45%, 11/15/26(g)
 
106
109,812
Compass Group Diversified Holdings LLC, 5.25%,
04/15/29(b)
 
218
201,159
Focus Financial Partners LLC, 6.75%, 09/15/31(b)(g)
 
259
265,247
HA Sustainable Infrastructure Capital, Inc., 6.38%,
07/01/34(g)
 
201
204,563
HAT Holdings I LLC/HAT Holdings II LLC, 8.00%,
06/15/27(b)(g)
 
56
58,301
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
 
5.25%, 05/15/27(g)
 
611
600,580
9.75%, 01/15/29
 
170
171,573
4.38%, 02/01/29(g)
 
124
107,038
10.00%, 11/15/29(b)
 
243
244,073
Jane Street Group/JSG Finance, Inc.(b)
 
6.13%, 11/01/32
 
78
79,058
6.75%, 05/01/33
 
133
138,138
JPMorgan Chase Financial Co. LLC, 0.50%,
06/15/27(g)(k)
 
300
347,400
Osaic Holdings, Inc.(b)
 
6.75%, 08/01/32
 
127
131,170
8.00%, 08/01/33
 
212
219,716
WOM Chile Holdco SpA, (5.00% PIK), 5.00%,
04/01/32(b)(i)(k)
 
289
257,348
 
 
5,248,827
Chemicals — 2.0%
Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK),
9.25%, 11/01/26(b)(i)
 
315
278,611
Avient Corp., 6.25%, 11/01/31(b)
 
158
160,453
Axalta Coating Systems Dutch Holding B BV, 7.25%,
02/15/31(b)(g)
 
273
285,618
Axalta Coating Systems LLC, 3.38%, 02/15/29(b)(g)
 
297
281,379
Celanese U.S. Holdings LLC, 6.75%, 04/15/33(g)
 
181
180,236
Chemours Co.
 
5.38%, 05/15/27
 
282
281,767
5.75%, 11/15/28(b)
 
477
465,254
8.00%, 01/15/33(b)
 
175
174,066
Element Solutions, Inc., 3.88%, 09/01/28(b)(g)
 
1,262
1,223,044
FIS Fabbrica Italiana Sintetici SpA, 5.63%, 08/01/27(d)
EUR
100
118,293
Security
 
Par
(000)
Value
Chemicals (continued)
Herens Holdco SARL, 4.75%, 05/15/28(b)(g)
USD
212
$ 185,731
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%,
07/01/28(b)
 
28
28,088
Ingevity Corp., 3.88%, 11/01/28(b)
 
84
80,710
Inversion Escrow Issuer LLC, 6.75%, 08/01/32(b)(g)
 
590
581,217
Itelyum Regeneration SpA, 5.75%, 04/15/30(d)
EUR
100
119,447
Kronos International, Inc., Series SEP, 9.50%,
03/15/29(d)
 
100
123,724
Mativ Holdings, Inc., 8.00%, 10/01/29(b)
USD
153
151,479
Methanex U.S. Operations, Inc., 6.25%, 03/15/32(b)
 
147
149,568
Minerals Technologies, Inc., 5.00%, 07/01/28(b)
 
169
165,621
Olympus Water U.S. Holding Corp.
 
9.63%, 11/15/28(d)
EUR
100
123,137
9.75%, 11/15/28(b)(g)
USD
1,100
1,154,450
6.25%, 10/01/29(b)(g)
 
400
388,398
7.25%, 06/15/31(b)(g)
 
596
604,210
02/15/33(b)(h)
 
931
931,970
SK Invictus Intermediate II SARL, 5.00%, 10/30/29(b)
 
362
354,310
Solstice Advanced Materials, Inc., 5.63%, 09/30/33(b)
 
413
414,365
WR Grace Holdings LLC(b)
 
4.88%, 06/15/27(g)
 
119
118,262
5.63%, 08/15/29(g)
 
1,191
1,107,032
7.38%, 03/01/31(g)
 
283
288,606
6.63%, 08/15/32
 
487
481,536
 
 
11,000,582
Commercial Services & Supplies — 3.8%
ADT Security Corp.(b)
 
4.88%, 07/15/32
 
107
103,624
10/15/33(h)
 
453
453,000
Albion Financing 1 SARL/Aggreko Holdings, Inc.
 
5.38%, 05/21/30(d)
EUR
100
121,792
7.00%, 05/21/30(b)
USD
476
492,327
Allied Universal Holdco LLC, 7.88%, 02/15/31(b)(g)
 
2,349
2,462,916
Allied Universal Holdco LLC/Allied Universal Finance
Corp.(b)(g)
 
6.00%, 06/01/29
 
1,156
1,136,410
6.88%, 06/15/30
 
895
919,908
Allied Universal Holdco LLC/Allied Universal Finance
Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28(b)(g)
 
1,543
1,512,712
BCP V Modular Services Finance II PLC, 6.50%,
07/10/31(d)
EUR
100
109,762
Belron U.K. Finance PLC, 5.75%, 10/15/29(b)(g)
USD
796
806,375
Boels Topholding BV, 5.75%, 05/15/30(d)
EUR
100
121,765
Brink’s Co.(b)
 
6.50%, 06/15/29
USD
157
161,569
6.75%, 06/15/32
 
162
168,503
Deluxe Corp., 8.13%, 09/15/29(b)
 
132
137,836
EquipmentShare.com, Inc., 8.00%, 03/15/33(b)
 
138
147,486
FTAI Aviation Investors LLC(b)(g)
 
5.50%, 05/01/28
 
740
740,118
7.88%, 12/01/30
 
727
772,544
7.00%, 05/01/31
 
946
989,571
7.00%, 06/15/32
 
569
595,471
5.88%, 04/15/33
 
452
454,835
Garda World Security Corp.(b)
 
4.63%, 02/15/27(g)
 
360
357,269
7.75%, 02/15/28(g)
 
532
545,355
6.00%, 06/01/29
 
65
64,443
8.25%, 08/01/32(g)
 
599
620,919
8.38%, 11/15/32(g)
 
966
1,002,734
Schedule of Investments
5
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Commercial Services & Supplies (continued)
Herc Holdings, Inc.(b)
 
6.63%, 06/15/29(g)
USD
36
$ 36,990
7.00%, 06/15/30
 
388
403,026
7.25%, 06/15/33
 
197
205,649
Hertz Corp., 12.63%, 07/15/29(b)
 
152
161,142
ION Platform Finance SARL, 09/30/30(h)
EUR
100
117,405
Loxam SAS, 6.38%, 05/31/29(d)
 
90
109,444
Prime Security Services Borrower LLC/Prime Finance,
Inc., 6.25%, 01/15/28(b)(g)
USD
127
126,889
RR Donnelley & Sons Co., 9.50%, 08/01/29(b)(g)
 
595
609,795
Service Corp. International(g)
 
5.13%, 06/01/29
 
238
237,984
3.38%, 08/15/30
 
273
252,953
4.00%, 05/15/31
 
370
348,852
5.75%, 10/15/32
 
641
649,383
Sotheby’s, 7.38%, 10/15/27(b)(g)
 
691
689,053
Sotheby’s/Bidfair Holdings, Inc., 5.88%, 06/01/29(b)(g)
 
453
412,765
Transurban Finance Co. Pty. Ltd., 4.13%, 02/02/26(b)(g)
 
435
434,530
Verisure Holding AB, 9.25%, 10/15/27(d)
EUR
80
96,338
Veritiv Operating Co., 10.50%, 11/30/30(b)
USD
172
184,595
Wand NewCo 3, Inc., 7.63%, 01/30/32(b)(g)
 
618
651,137
 
 
20,727,174
Communications Equipment(b)(g) — 0.2%
CommScope LLC, 4.75%, 09/01/29
 
780
774,993
Viavi Solutions, Inc., 3.75%, 10/01/29
 
116
109,368
 
 
884,361
Construction & Engineering — 0.5%
AECOM, 6.00%, 08/01/33(b)(g)
 
697
712,606
Arcosa, Inc.(b)
 
4.38%, 04/15/29(g)
 
286
278,102
6.88%, 08/15/32
 
31
32,379
Brand Industrial Services, Inc., 10.38%, 08/01/30(b)(g)
 
1,494
1,489,238
Dycom Industries, Inc., 4.50%, 04/15/29(b)
 
119
116,221
Heathrow Finance PLC, 4.13%, 09/01/29(d)(l)
GBP
100
125,039
 
 
2,753,585
Consumer Discretionary — 0.5%
APi Group DE, Inc.(b)
 
4.13%, 07/15/29
USD
132
127,223
4.75%, 10/15/29
 
100
98,031
Arena Luxembourg Finance SARL, (3-mo. EURIBOR +
2.50%), 4.52%, 05/01/30(a)(d)
EUR
100
118,133
Clarivate Science Holdings Corp.(b)(g)
 
3.88%, 07/01/28
USD
730
702,518
4.88%, 07/01/29
 
883
834,460
Raven Acquisition Holdings LLC, 6.88%, 11/15/31(b)(g)
 
303
311,384
Williams Scotsman, Inc.(b)
 
6.63%, 06/15/29
 
32
32,731
6.63%, 04/15/30
 
307
315,984
7.38%, 10/01/31(g)
 
378
394,761
 
 
2,935,225
Consumer Finance — 1.9%
Block, Inc.
 
2.75%, 06/01/26(g)
 
406
400,666
5.63%, 08/15/30(b)
 
341
345,494
6.50%, 05/15/32(g)
 
1,580
1,635,309
6.00%, 08/15/33(b)(g)
 
524
536,597
Boost Newco Borrower LLC, 7.50%, 01/15/31(b)(g)
 
800
848,715
Bread Financial Holdings, Inc., (5-year CMT + 4.30%),
8.38%, 06/15/35(a)(b)
 
41
42,100
Security
 
Par
(000)
Value
Consumer Finance (continued)
Capital One Financial Corp., (1-day SOFR + 2.60%),
5.82%, 02/01/34(a)(g)
USD
440
$ 461,431
Equifax, Inc., 2.60%, 12/15/25
 
59
58,752
ION Platform Finance U.S., Inc., 09/30/32(b)(h)
 
1,130
1,124,140
Navient Corp.
 
9.38%, 07/25/30
 
127
140,369
7.88%, 06/15/32
 
236
248,333
OneMain Finance Corp.
 
6.63%, 05/15/29
 
204
209,686
5.38%, 11/15/29(g)
 
189
186,857
7.88%, 03/15/30(g)
 
370
391,517
6.13%, 05/15/30
 
327
331,148
4.00%, 09/15/30
 
179
166,391
7.50%, 05/15/31
 
82
85,720
7.13%, 11/15/31
 
111
115,105
6.75%, 03/15/32
 
330
336,112
7.13%, 09/15/32
 
219
226,235
6.50%, 03/15/33
 
429
429,678
Shift4 Payments LLC/Shift4 Payments Finance Sub,
Inc.(b)
 
6.75%, 08/15/32(g)
 
945
977,027
5.50%, 05/15/33
EUR
270
330,071
Shift4 Payments, Inc., 0.00%, 12/15/25(k)(m)
USD
174
178,524
WEX, Inc., 6.50%, 03/15/33(b)
 
339
346,215
Worldline SA, 0.00%, 07/30/26(d)(k)(m)
EUR
2
2,687
 
 
10,154,879
Consumer Staples Distribution & Retail — 0.5%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons
LP/Albertsons LLC, 6.25%, 03/15/33(b)
USD
183
187,154
B&M European Value Retail SA, 6.50%, 11/27/31(d)
GBP
100
136,252
Bellis Acquisition Co. PLC, 8.13%, 05/14/30(d)
 
100
128,705
Boots Group Finco LP(b)
 
5.38%, 08/31/32
EUR
360
434,811
7.38%, 08/31/32
GBP
160
219,213
KeHE Distributors LLC/KeHE Finance Corp./NextWave
Distribution, Inc., 9.00%, 02/15/29(b)
USD
163
171,501
Lion/Polaris Lux 4 SA, (3-mo. EURIBOR + 3.63%),
5.64%, 07/01/29(a)(d)
EUR
100
118,712
Market Bidco Finco PLC, 6.75%, 01/31/31(d)
 
100
115,935
Ocado Group PLC, 11.00%, 06/15/30(d)
GBP
100
135,122
Performance Food Group, Inc.(b)(g)
 
4.25%, 08/01/29
USD
171
166,107
6.13%, 09/15/32
 
383
392,311
U.S. Foods, Inc., 7.25%, 01/15/32(b)(g)
 
234
244,984
United Natural Foods, Inc., 6.75%, 10/15/28(b)
 
253
252,980
 
 
2,703,787
Containers & Packaging — 2.3%
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%,
06/30/27(b)(i)
 
—
(n)
—
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal
Packaging Finance PLC(b)
 
6.00%, 06/15/27(g)
 
400
399,903
3.25%, 09/01/28
 
200
190,003
4.00%, 09/01/29(g)
 
1,600
1,480,827
Ardagh Packaging Finance PLC/Ardagh Holdings USA,
Inc.
 
2.13%, 08/15/26(d)
EUR
200
228,337
4.13%, 08/15/26(b)(c)
USD
802
769,920
Ball Corp.
 
4.25%, 07/01/32
EUR
145
174,122
5.50%, 09/15/33
USD
196
198,107
6
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Containers & Packaging (continued)
Clydesdale Acquisition Holdings, Inc.(b)(g)
 
6.63%, 04/15/29
USD
380
$ 384,328
6.88%, 01/15/30
 
515
528,292
8.75%, 04/15/30
 
402
412,952
6.75%, 04/15/32
 
824
845,309
Crown Americas LLC, 5.88%, 06/01/33(b)(g)
 
545
550,510
Fedrigoni SpA, 6.13%, 06/15/31(d)
EUR
100
116,702
Graham Packaging Co., Inc., 7.13%, 08/15/28(b)
USD
60
60,107
LABL, Inc.(b)
 
5.88%, 11/01/28
 
233
180,530
9.50%, 11/01/28(g)
 
551
468,095
8.63%, 10/01/31
 
327
240,225
Magnera Corp., 7.25%, 11/15/31(b)
 
142
133,619
Mauser Packaging Solutions Holding Co.(b)
 
7.88%, 04/15/27(g)
 
3,720
3,756,467
9.25%, 04/15/27
 
249
249,570
OI European Group BV
 
6.25%, 05/15/28(b)
EUR
115
139,348
5.25%, 06/01/29(d)
 
100
120,846
Owens-Brockway Glass Container, Inc., 6.63%,
05/13/27(b)
USD
39
38,928
Sealed Air Corp.(b)
 
4.00%, 12/01/27
 
72
70,660
5.00%, 04/15/29
 
59
58,671
Silgan Holdings, Inc., 02/15/31(b)(h)
EUR
305
359,530
Trivium Packaging Finance BV
 
6.63%, 07/15/30(d)
 
100
123,418
6.63%, 07/15/30(b)
 
100
123,418
12.25%, 01/15/31(b)
USD
200
216,468
 
 
12,619,212
Distributors(b) — 0.1%
Gates Corp./DE, 6.88%, 07/01/29(g)
 
196
203,380
Resideo Funding, Inc.
 
4.00%, 09/01/29
 
59
56,357
6.50%, 07/15/32(g)
 
276
282,874
 
 
542,611
Diversified REITs — 0.8%
Digital Realty Trust LP, 1.88%, 11/15/29(b)(k)
 
85
89,250
Global Net Lease, Inc./Global Net Lease Operating
Partnership LP, 3.75%, 12/15/27(b)
 
108
104,825
Iron Mountain Information Management Services, Inc.,
5.00%, 07/15/32(b)
 
199
191,745
Iron Mountain, Inc.
 
5.25%, 07/15/30(b)
 
23
22,746
5.63%, 07/15/32(b)
 
19
18,899
6.25%, 01/15/33(b)(g)
 
151
154,022
4.75%, 01/15/34(b)
EUR
205
241,211
4.75%, 01/15/34(d)
 
100
117,664
Millrose Properties, Inc.(b)
 
6.38%, 08/01/30(g)
USD
543
552,226
6.25%, 09/15/32
 
277
277,724
SBA Communications Corp., 3.13%, 02/01/29(g)
 
638
596,729
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL
Capital LLC, 10.50%, 02/15/28(b)(g)
 
1,995
2,101,134
 
 
4,468,175
Diversified Telecommunication Services — 4.3%
Altice Financing SA(b)
 
5.00%, 01/15/28
 
200
155,500
5.75%, 08/15/29(g)
 
524
394,310
AT&T, Inc., 4.30%, 02/15/30(g)
 
1,350
1,352,939
Security
 
Par
(000)
Value
Diversified Telecommunication Services (continued)
Connect Finco SARL/Connect U.S. Finco LLC, 9.00%,
09/15/29(b)(g)
USD
420
$ 441,590
EchoStar Corp.(g)
 
(6.75% PIK), 6.75%, 11/30/30(i)
 
1,903
1,961,523
10.75%, 11/30/29
 
1,328
1,460,765
eircom Finance DAC, 5.00%, 04/30/31(d)
EUR
100
120,255
Eutelsat SA, 1.50%, 10/13/28(d)
 
100
110,064
Fibercop SpA
 
4.75%, 06/30/30(d)
 
100
119,253
5.13%, 06/30/32(d)
 
100
119,332
6.00%, 09/30/34(b)(g)
USD
242
230,665
7.20%, 07/18/36(b)(g)
 
200
201,476
Frontier Communications Holdings LLC
 
5.88%, 10/15/27(b)(g)
 
314
313,810
5.00%, 05/01/28(b)(g)
 
753
751,306
6.75%, 05/01/29(b)
 
111
112,107
5.88%, 11/01/29
 
180
181,441
6.00%, 01/15/30(b)
 
244
246,870
8.75%, 05/15/30(b)(g)
 
1,544
1,612,932
8.63%, 03/15/31(b)(g)
 
371
391,131
Kaixo Bondco Telecom SA, 5.13%, 09/30/29(d)
EUR
100
118,836
Level 3 Financing, Inc.(b)
 
3.63%, 01/15/29
USD
61
52,793
4.88%, 06/15/29(g)
 
964
906,726
4.50%, 04/01/30(g)
 
511
467,190
3.88%, 10/15/30
 
114
99,533
4.00%, 04/15/31
 
54
46,043
6.88%, 06/30/33(g)
 
1,962
1,999,292
7.00%, 03/31/34(g)
 
1,853
1,885,074
Lorca Telecom Bondco SA, 5.75%, 04/30/29(d)
EUR
100
122,185
Lumen Technologies, Inc.(b)
 
4.13%, 04/15/29
USD
200
196,259
4.13%, 04/15/30
 
200
196,182
10.00%, 10/15/32
 
221
224,025
Maya SAS/Paris France
 
7.00%, 10/15/28(b)(g)
 
343
348,498
5.38%, 04/15/30(d)
EUR
100
119,913
8.50%, 04/15/31(b)(g)
USD
479
513,724
7.00%, 04/15/32(b)(g)
 
211
215,179
Sable International Finance Ltd., 7.13%, 10/15/32(b)
 
493
499,421
SoftBank Group Corp.(d)
 
5.38%, 01/08/29
EUR
103
125,269
3.88%, 07/06/32
 
200
223,502
Telecom Italia Capital SA, 7.72%, 06/04/38
USD
381
422,069
Verizon Communications, Inc., 3.70%, 03/22/61(g)
 
1,000
704,394
Windstream Services LLC, 10/15/33(b)(h)
 
351
350,905
Windstream Services LLC/Windstream Escrow Finance
Corp., 8.25%, 10/01/31(b)(g)
 
1,010
1,046,235
Zayo Group Holdings, Inc.(b)(h)
 
03/09/30
 
2,051
1,963,976
09/09/30
 
250
236,971
 
 
23,361,463
Electric Utilities — 1.5%
Alpha Generation LLC, 6.75%, 10/15/32(b)
 
299
308,655
Black Hills Corp., 3.15%, 01/15/27(g)
 
305
300,942
California Buyer Ltd./Atlantica Sustainable Infrastructure
PLC, 6.38%, 02/15/32(b)
 
225
230,609
ContourGlobal Power Holdings SA, 6.75%, 02/28/30(b)
 
400
415,496
Edison International, Series A, (5-year CMT + 4.70%),
5.38%(a)(g)(o)
 
4,000
3,883,480
Enel Finance International NV, 3.63%, 05/25/27(b)(g)
 
900
892,134
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(d)
 
169
167,494
Schedule of Investments
7
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Electric Utilities (continued)
Pattern Energy Operations LP/Pattern Energy
Operations, Inc., 4.50%, 08/15/28(b)
USD
84
$ 81,869
Pike Corp., 8.63%, 01/31/31(b)
 
89
95,474
Public Power Corp. SA, 4.63%, 10/31/31(d)
EUR
100
120,916
Star Energy Geothermal Wayang Windu Ltd., 6.75%,
04/24/33(d)
USD
137
141,435
Texas Competitive Electric Holdings Co. LLC, 1.00%,
11/10/17(c)(e)(j)
 
780
—
Vistra Operations Co. LLC(b)(g)
 
7.75%, 10/15/31
 
246
260,315
6.88%, 04/15/32
 
396
414,167
XPLR Infrastructure Operating Partners LP, 8.38%,
01/15/31(b)(g)
 
650
681,200
 
 
7,994,186
Electronic Equipment, Instruments & Components(b) — 0.3%
Coherent Corp., 5.00%, 12/15/29(g)
 
300
295,861
Imola Merger Corp., 4.75%, 05/15/29(g)
 
330
320,966
Sensata Technologies BV, 4.00%, 04/15/29
 
168
161,225
Sensata Technologies, Inc.
 
4.38%, 02/15/30(g)
 
483
466,170
3.75%, 02/15/31
 
54
49,836
6.63%, 07/15/32(g)
 
227
234,895
WESCO Distribution, Inc.
 
6.63%, 03/15/32
 
149
154,844
6.38%, 03/15/33
 
93
96,406
Zebra Technologies Corp., 6.50%, 06/01/32
 
117
120,168
 
 
1,900,371
Energy Equipment & Services — 0.8%
Archrock Partners LP/Archrock Partners Finance Corp.(b)
 
6.88%, 04/01/27
 
91
91,004
6.25%, 04/01/28(g)
 
291
291,402
6.63%, 09/01/32(g)
 
501
513,917
Halliburton Co., 3.80%, 11/15/25
 
3
2,997
Kodiak Gas Services LLC(b)
 
7.25%, 02/15/29(g)
 
566
587,318
6.50%, 10/01/33
 
318
323,780
6.75%, 10/01/35
 
240
246,422
Oceaneering International, Inc., 6.00%, 02/01/28
 
71
71,878
OEG Finance PLC, 7.25%, 09/27/29(d)
EUR
100
122,709
Star Holding LLC, 8.75%, 08/01/31(b)(g)
USD
256
254,004
Tidewater, Inc., 9.13%, 07/15/30(b)
 
206
220,925
USA Compression Partners LP/USA Compression
Finance Corp.(b)
 
7.13%, 03/15/29(g)
 
339
349,619
6.25%, 10/01/33
 
557
559,131
Weatherford International Ltd.(b)
 
8.63%, 04/30/30(g)
 
474
484,547
10/15/33(h)
 
501
501,348
 
 
4,621,001
Entertainment(b)(g) — 0.1%
Flutter Treasury DAC, 5.88%, 06/04/31
 
600
609,012
Scientific Games Holdings LP/Scientific Games
U.S. FinCo, Inc., 6.63%, 03/01/30
 
190
176,645
 
 
785,657
Environmental, Maintenance & Security Service — 0.8%
GFL Environmental, Inc.(b)
 
4.00%, 08/01/28(g)
 
121
118,130
4.75%, 06/15/29
 
378
372,828
4.38%, 08/15/29(g)
 
405
395,122
Security
 
Par
(000)
Value
Environmental, Maintenance & Security Service (continued)
GFL Environmental, Inc.(b) (continued)
 
6.75%, 01/15/31(g)
USD
339
$ 354,736
Luna 1.5 SARL(i)
 
(10.50% PIK), 10.50%, 07/01/32(b)
EUR
200
243,328
(10.50% PIK), 10.50%, 07/01/32(d)
 
100
121,664
Madison IAQ LLC(b)
 
4.13%, 06/30/28
USD
240
234,230
5.88%, 06/30/29(g)
 
554
547,297
Republic Services, Inc., 3.38%, 11/15/27(g)
 
750
741,200
Reworld Holding Corp., 4.88%, 12/01/29(b)
 
142
133,546
Waste Pro USA, Inc., 7.00%, 02/01/33(b)(g)
 
987
1,022,332
Wrangler Holdco Corp., 6.63%, 04/01/32(b)
 
20
20,854
 
 
4,305,267
Financial Services — 3.5%
Ally Financial, Inc., Series B, (5-year CMT + 3.87%),
4.70%(a)(g)(o)
 
2,000
1,947,855
Azorra Finance Ltd.(b)
 
7.75%, 04/15/30
 
174
182,483
7.25%, 01/15/31
 
114
118,707
CrossCountry Intermediate HoldCo LLC, 6.50%,
10/01/30(b)
 
246
246,905
Deutsche Bank AG/New York, (1-day SOFR + 3.18%),
6.72%, 01/18/29(a)(g)
 
1,100
1,155,153
Freedom Mortgage Holdings LLC(b)
 
9.25%, 02/01/29
 
186
195,705
9.13%, 05/15/31(g)
 
293
311,621
8.38%, 04/01/32
 
195
204,389
Garfunkelux Holdco 3 SA, 9.00%, 09/01/28(d)
EUR
21
25,064
GGAM Finance Ltd.(b)
 
7.75%, 05/15/26
USD
45
45,112
8.00%, 06/15/28
 
150
158,768
6.88%, 04/15/29(g)
 
205
212,587
5.88%, 03/15/30
 
219
222,011
Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27(b)
 
359
370,172
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%,
08/15/28(b)(g)
 
325
314,010
JPMorgan Chase & Co., (1-day SOFR + 1.13%), 5.00%,
07/22/30(a)(g)
 
2,600
2,666,933
Midcap Financial Issuer Trust(b)
 
6.50%, 05/01/28
 
200
198,630
5.63%, 01/15/30
 
400
377,164
Morgan Stanley, (1-day SOFR + 1.26%), 5.66%,
04/18/30(a)(g)
 
2,600
2,714,958
Nationstar Mortgage Holdings, Inc.(b)
 
6.00%, 01/15/27
 
45
45,000
6.50%, 08/01/29(g)
 
409
419,588
5.13%, 12/15/30(g)
 
219
220,927
5.75%, 11/15/31(g)
 
147
148,544
7.13%, 02/01/32(g)
 
655
683,691
PennyMac Financial Services, Inc.(b)
 
7.88%, 12/15/29
 
258
273,815
7.13%, 11/15/30(g)
 
148
154,107
6.88%, 05/15/32
 
277
287,027
6.75%, 02/15/34
 
163
166,274
Phoenix Aviation Capital Ltd., 9.25%, 07/15/30(b)
 
431
458,547
PRA Group Europe Holding II SARL, 6.25%, 09/30/32(d)
EUR
100
115,673
Rocket Cos., Inc.(b)(g)
 
6.13%, 08/01/30
USD
1,202
1,233,637
6.38%, 08/01/33
 
991
1,022,825
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.(b)
 
2.88%, 10/15/26(g)
 
471
461,358
8
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Financial Services (continued)
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer,
Inc.(b) (continued)
 
3.88%, 03/01/31
USD
49
$ 45,758
4.00%, 10/15/33
 
28
25,572
Titanium 2l Bondco SARL, (6.25% PIK), 6.25%,
01/14/31(i)
EUR
100
30,336
UBS AG/Stamford CT, 5.00%, 07/09/27(g)
USD
1,200
1,220,193
UWM Holdings LLC(b)
 
6.63%, 02/01/30(g)
 
318
323,496
6.25%, 03/15/31
 
176
175,162
 
 
19,179,757
Food Products — 1.1%
Aramark Services, Inc., 5.00%, 02/01/28(b)
 
194
193,085
B&G Foods, Inc., 8.00%, 09/15/28(b)
 
89
86,233
Chobani Holdco II LLC, (8.75% in Cash or 9.5% in PIK),
8.75%, 10/01/29(b)(g)(i)
 
1,363
1,444,301
Chobani LLC/Chobani Finance Corp., Inc.(b)(g)
 
4.63%, 11/15/28
 
457
451,896
7.63%, 07/01/29
 
1,411
1,471,316
Darling Global Finance BV
 
4.50%, 07/15/32(b)
EUR
180
213,364
4.50%, 07/15/32(d)
 
100
118,535
Darling Ingredients, Inc., 6.00%, 06/15/30(b)(g)
USD
249
251,381
Fiesta Purchaser, Inc.(b)
 
7.88%, 03/01/31
 
19
20,051
9.63%, 09/15/32
 
91
98,243
Irca SpA/Gallarate, (3-mo. EURIBOR + 3.75%), 5.76%,
12/15/29(a)(d)
EUR
100
118,251
Lamb Weston Holdings, Inc.(b)(g)
 
4.88%, 05/15/28
USD
257
256,068
4.13%, 01/31/30
 
312
299,590
4.38%, 01/31/32
 
300
283,536
Post Holdings, Inc.(b)
 
4.63%, 04/15/30(g)
 
118
113,754
4.50%, 09/15/31
 
32
29,896
6.25%, 02/15/32
 
102
104,864
6.38%, 03/01/33
 
334
337,109
6.25%, 10/15/34
 
208
209,731
Simmons Foods, Inc./Simmons Prepared Foods,
Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%,
03/01/29(b)
 
129
123,668
 
 
6,224,872
Ground Transportation — 0.4%
Genesee & Wyoming, Inc., 6.25%, 04/15/32(b)(g)
 
340
345,488
Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34(b)(g)
 
1,168
1,207,913
Union Pacific Corp., 3.20%, 05/20/41(g)
 
600
470,434
Watco Cos. LLC/Watco Finance Corp., 7.13%,
08/01/32(b)
 
216
223,575
 
 
2,247,410
Health Care Equipment & Supplies — 0.5%
Avantor Funding, Inc.
 
2.63%, 11/01/25(d)
EUR
38
45,136
4.63%, 07/15/28(b)(g)
USD
467
459,368
3.88%, 11/01/29(b)
 
209
198,752
Bausch & Lomb Corp., 8.38%, 10/01/28(b)(g)
 
1,333
1,389,236
Insulet Corp., 6.50%, 04/01/33(b)
 
238
247,432
Neogen Food Safety Corp., 8.63%, 07/20/30(b)
 
184
192,412
 
 
2,532,336
Health Care Providers & Services — 2.7%
Acadia Healthcare Co., Inc., 7.38%, 03/15/33(b)(g)
 
123
127,697
Security
 
Par
(000)
Value
Health Care Providers & Services (continued)
AHP Health Partners, Inc., 5.75%, 07/15/29(b)(g)
USD
345
$ 339,530
Charles River Laboratories International, Inc., 4.00%,
03/15/31(b)
 
42
39,117
CHS/Community Health Systems, Inc.(b)
 
6.00%, 01/15/29(g)
 
521
505,703
5.25%, 05/15/30(g)
 
828
749,045
4.75%, 02/15/31
 
411
355,412
10.88%, 01/15/32(g)
 
513
543,317
9.75%, 01/15/34(g)
 
880
901,560
Concentra Health Services, Inc., 6.88%, 07/15/32(b)(g)
 
340
353,050
DaVita, Inc.(b)
 
6.88%, 09/01/32
 
186
192,145
6.75%, 07/15/33
 
169
174,272
Elevance Health, Inc., 3.65%, 12/01/27(g)
 
1,000
992,916
Ephios Subco 3 SARL, 7.88%, 01/31/31(d)
EUR
100
124,986
Fortrea Holdings, Inc., 7.50%, 07/01/30(b)
USD
89
84,278
HAH Group Holding Co. LLC, 9.75%, 10/01/31(b)
 
154
146,312
HCA, Inc., 5.50%, 06/15/47(g)
 
650
620,074
HealthEquity, Inc., 4.50%, 10/01/29(b)(g)
 
615
596,320
IQVIA, Inc., 6.25%, 06/01/32(b)(g)
 
895
920,186
LifePoint Health, Inc.(b)
 
9.88%, 08/15/30(g)
 
129
139,699
11.00%, 10/15/30(g)
 
791
871,806
8.38%, 02/15/32
 
228
242,981
10.00%, 06/01/32(g)
 
282
296,088
Medline Borrower LP(b)(g)
 
3.88%, 04/01/29
 
435
419,533
5.25%, 10/01/29
 
1,280
1,268,932
Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%,
04/01/29(b)(g)
 
685
702,402
Molina Healthcare, Inc., 6.25%, 01/15/33(b)
 
142
143,578
Prime Healthcare Services, Inc., 9.38%, 09/01/29(b)
 
118
122,720
Sotera Health Holdings LLC, 7.38%, 06/01/31(b)
 
196
205,804
Star Parent, Inc., 9.00%, 10/01/30(b)(g)
 
858
907,072
Surgery Center Holdings, Inc., 7.25%, 04/15/32(b)(g)
 
726
745,781
Tenet Healthcare Corp.(g)
 
6.13%, 06/15/30
 
250
253,189
6.75%, 05/15/31
 
605
626,344
U.S. Acute Care Solutions LLC, 9.75%, 05/15/29(b)(g)
 
284
290,811
 
 
15,002,660
Health Care REITs — 0.6%
Alexandria Real Estate Equities, Inc., 4.00%, 02/01/50(g)
 
450
345,165
Diversified Healthcare Trust, 7.25%, 10/15/30(b)
 
133
135,172
Healthpeak OP LLC, 2.88%, 01/15/31(g)
 
1,000
921,035
MPT Operating Partnership LP/MPT Finance Corp.
 
7.00%, 02/15/32(b)
EUR
260
318,967
7.00%, 02/15/32(d)
 
100
122,679
8.50%, 02/15/32(b)(g)
USD
819
870,238
Ventas Realty LP, 4.13%, 01/15/26(g)
 
650
648,641
 
 
3,361,897
Hotel & Resort REITs — 0.7%
Park Intermediate Holdings LLC/PK Domestic Property
LLC/PK Finance Co-Issuer, 7.00%, 02/01/30(b)
 
224
230,920
Pebblebrook Hotel LP/PEB Finance Corp., 6.38%,
10/15/29(b)
 
123
124,834
RHP Hotel Properties LP/RHP Finance Corp.(b)
 
4.50%, 02/15/29(g)
 
302
296,179
6.50%, 04/01/32(g)
 
528
542,832
6.50%, 06/15/33
 
272
280,130
Service Properties Trust
 
0.00%, 09/30/27(b)(m)
 
261
230,079
Schedule of Investments
9
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Hotel & Resort REITs (continued)
Service Properties Trust (continued)
 
8.63%, 11/15/31(b)(g)
USD
1,418
$ 1,509,736
8.88%, 06/15/32(g)
 
496
498,787
XHR LP, 6.63%, 05/15/30(b)
 
121
124,324
 
 
3,837,821
Hotels, Restaurants & Leisure — 3.8%
Boyne USA, Inc., 4.75%, 05/15/29(b)
 
214
209,954
Burger King (Restaurant Brands International Inc.)/New
Red Finance, Inc., 5.63%, 09/15/29(b)
 
129
130,551
Burger King (Restaurant Brands International, Inc.)/New
Red Finance, Inc.(b)
 
3.88%, 01/15/28
 
108
105,413
4.38%, 01/15/28(g)
 
134
131,666
4.00%, 10/15/30(g)
 
401
377,912
Caesars Entertainment, Inc.(b)(g)
 
7.00%, 02/15/30
 
1,335
1,373,191
6.50%, 02/15/32
 
579
590,573
Carnival Corp.(b)
 
5.88%, 06/15/31
 
227
232,617
5.75%, 08/01/32(g)
 
180
183,182
6.13%, 02/15/33(g)
 
649
665,248
Carnival PLC, 4.13%, 07/15/31(b)
EUR
395
469,460
Churchill Downs, Inc.(b)
 
4.75%, 01/15/28
USD
137
135,174
5.75%, 04/01/30(g)
 
797
796,281
6.75%, 05/01/31
 
392
401,743
Fertitta Entertainment LLC/Fertitta Entertainment
Finance Co., Inc.(b)(g)
 
4.63%, 01/15/29
 
436
414,958
6.75%, 01/15/30
 
136
127,627
Great Canadian Gaming Corp./Raptor LLC, 8.75%,
11/15/29(b)
 
408
403,445
Hilton Domestic Operating Co., Inc.(b)
 
6.13%, 04/01/32
 
226
232,335
5.88%, 03/15/33(g)
 
406
414,443
5.75%, 09/15/33
 
49
49,654
Light & Wonder International, Inc.(b)
 
7.25%, 11/15/29
 
51
52,345
7.50%, 09/01/31
 
87
90,476
6.25%, 10/01/33
 
242
242,411
Lindblad Expeditions LLC, 7.00%, 09/15/30(b)
 
321
327,192
MajorDrive Holdings IV LLC, 6.38%, 06/01/29(b)(g)
 
267
218,799
Melco Resorts Finance Ltd., 7.63%, 04/17/32(b)(g)
 
261
273,398
Merlin Entertainments Group U.S. Holdings, Inc., 7.38%,
02/15/31(b)
 
400
344,681
MGM China Holdings Ltd., 5.88%, 05/15/26(d)
 
250
249,845
MGM Resorts International, 6.13%, 09/15/29(g)
 
329
334,855
Midwest Gaming Borrower LLC/Midwest Gaming
Finance Corp., 4.88%, 05/01/29(b)
 
72
69,991
Mohegan Tribal Gaming Authority/MS Digital
Entertainment Holdings LLC, 8.25%, 04/15/30(b)
 
250
259,760
NCL Corp. Ltd.(b)(g)
 
5.88%, 01/15/31
 
438
437,984
6.75%, 02/01/32
 
288
296,188
6.25%, 09/15/33
 
693
696,587
Pinewood Finco PLC, 6.00%, 03/27/30(d)
GBP
100
135,265
Premier Entertainment Sub LLC/Premier Entertainment
Finance Corp.(b)
 
5.63%, 09/01/29
USD
116
62,640
5.88%, 09/01/31
 
166
85,584
Security
 
Par
(000)
Value
Hotels, Restaurants & Leisure (continued)
Raising Cane’s Restaurants LLC, 9.38%, 05/01/29(b)
USD
141
$ 148,014
Rivers Enterprise Borrower LLC/Rivers Enterprise
Finance Corp., 6.63%, 02/01/33(b)
 
166
168,213
Rivers Enterprise Lender LLC/Rivers Enterprise Lender
Corp., 10/15/30(b)(h)
 
140
141,248
Sabre GLBL, Inc.(b)
 
8.63%, 06/01/27(g)
 
182
184,606
10.75%, 11/15/29(g)
 
532
514,124
11.13%, 07/15/30
 
390
377,696
Starz Capital Holdings 1, Inc., 6.00%, 04/15/30(b)
 
232
220,015
Station Casinos LLC(b)
 
4.63%, 12/01/31(g)
 
218
205,643
6.63%, 03/15/32
 
129
132,514
TUI AG, 5.88%, 03/15/29(d)
EUR
100
121,972
Vail Resorts, Inc.(b)
 
5.63%, 07/15/30
USD
189
190,181
6.50%, 05/15/32(g)
 
364
376,358
Viking Cruises Ltd.(b)
 
5.88%, 09/15/27(g)
 
236
236,091
7.00%, 02/15/29
 
51
51,258
9.13%, 07/15/31(g)
 
549
589,253
10/15/33(h)
 
605
605,425
Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29(b)
 
162
161,861
Voyager Parent LLC, 9.25%, 07/01/32(b)
 
304
321,477
Warnermedia Holdings, Inc., 5.05%, 03/15/42(g)
 
1,790
1,428,993
Wynn Macau Ltd.(b)(g)
 
5.63%, 08/26/28
 
1,000
998,010
5.13%, 12/15/29
 
410
401,042
Wynn Resorts Finance LLC/Wynn Resorts Capital
Corp.(b)
 
5.13%, 10/01/29(g)
 
640
640,987
7.13%, 02/15/31(g)
 
463
498,348
6.25%, 03/15/33
 
190
192,941
 
 
20,529,698
Household Durables — 0.7%
Ashton Woods USA LLC/Ashton Woods Finance Co.(b)
 
4.63%, 08/01/29
 
100
95,757
4.63%, 04/01/30
 
145
137,269
6.88%, 08/01/33
 
138
139,184
Beazer Homes USA, Inc., 5.88%, 10/15/27
 
54
53,966
Brookfield Residential Properties, Inc./Brookfield
Residential U.S. LLC(b)
 
5.00%, 06/15/29
 
208
198,218
4.88%, 02/15/30(g)
 
286
268,222
Century Communities, Inc., 6.63%, 09/15/33(b)
 
173
174,515
Dream Finders Homes, Inc., 8.25%, 08/15/28(b)
 
115
119,307
Empire Communities Corp., 9.75%, 05/01/29(b)
 
51
53,475
K Hovnanian Enterprises, Inc.(b)
 
8.00%, 04/01/31
 
296
303,528
8.38%, 10/01/33
 
323
331,156
LGI Homes, Inc.(b)
 
8.75%, 12/15/28
 
89
93,434
7.00%, 11/15/32
 
161
157,204
Meritage Homes Corp., 1.75%, 05/15/28(g)(k)
 
390
399,150
New Home Co., Inc., 9.25%, 10/01/29(b)
 
224
235,208
Newell Brands, Inc., 8.50%, 06/01/28(b)
 
200
211,547
Somnigroup International, Inc.(b)
 
4.00%, 04/15/29
 
204
195,789
3.88%, 10/15/31
 
48
43,962
STL Holding Co. LLC, 8.75%, 02/15/29(b)
 
120
125,750
10
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Household Durables (continued)
SWF Holdings I Corp., 6.50%, 10/06/29(b)
USD
210
$ 104,800
Whirlpool Corp.
 
6.13%, 06/15/30
 
91
91,713
6.50%, 06/15/33
 
175
174,640
 
 
3,707,794
Household Products — 0.0%
Berkline Benchcraft LLC, 4.50%, 06/01/22(a)(c)(e)(j)
 
200
—
Independent Power and Renewable Electricity Producers(b) — 1.2%
Calpine Corp.
 
4.50%, 02/15/28
 
7
6,971
5.13%, 03/15/28(g)
 
865
865,441
4.63%, 02/01/29(g)
 
106
104,958
5.00%, 02/01/31
 
67
66,804
Clearway Energy Operating LLC(g)
 
4.75%, 03/15/28
 
279
275,634
3.75%, 01/15/32
 
201
180,425
Lightning Power LLC, 7.25%, 08/15/32
 
92
97,402
NRG Energy, Inc.
 
5.75%, 07/15/29
 
209
209,250
6.00%, 02/01/33(g)
 
808
820,581
01/15/34(h)
 
604
603,384
6.25%, 11/01/34(g)
 
395
404,911
01/15/36(h)
 
1,609
1,609,231
Vistra Corp., (5-year CMT + 6.93%), 8.00%(a)(o)
 
181
185,137
XPLR Infrastructure LP(k)
 
0.00%, 11/15/25(m)
 
629
624,283
2.50%, 06/15/26
 
632
616,200
 
 
6,670,612
Industrial Conglomerates — 0.1%
Amsted Industries, Inc., 6.38%, 03/15/33(b)
 
125
128,297
Axon Enterprise, Inc., 6.25%, 03/15/33(b)
 
105
108,076
Enpro, Inc., 6.13%, 06/01/33(b)
 
161
164,549
Maxam Prill SARL, 6.00%, 07/15/30(d)
EUR
100
119,192
 
 
520,114
Insurance — 4.4%
Acrisure LLC/Acrisure Finance, Inc., 6.75%, 07/01/32(b)
USD
119
122,532
Alliant Holdings Intermediate LLC/Alliant Holdings Co-
Issuer(b)(g)
 
4.25%, 10/15/27
 
627
616,590
6.75%, 10/15/27
 
1,382
1,384,977
6.75%, 04/15/28
 
282
286,998
5.88%, 11/01/29
 
799
794,833
7.00%, 01/15/31
 
912
942,304
7.38%, 10/01/32
 
938
966,546
AmWINS Group, Inc., 6.38%, 02/15/29(b)
 
138
140,806
Amynta Agency Borrower, Inc. and Amynta Warranty
Borrower, Inc., 7.50%, 07/15/33(b)
 
337
344,969
APH Somerset Investor 2 LLC/APH2 Somerset Investor
2 LLC/APH3 Somerset Investor 2 LLC, 7.88%,
11/01/29(b)
 
263
274,472
Ardonagh Finco Ltd.
 
6.88%, 02/15/31(d)
EUR
330
400,462
7.75%, 02/15/31(b)(g)
USD
1,395
1,459,713
Ardonagh Group Finance Ltd., 8.88%, 02/15/32(b)(g)
 
1,287
1,353,016
Howden U.K. Refinance PLC/Howden U.K. Refinance
2 PLC/Howden U.S. Refinance LLC(b)
 
7.25%, 02/15/31
 
1,600
1,647,314
8.13%, 02/15/32(g)
 
748
776,048
HUB International Ltd.(b)(g)
 
7.25%, 06/15/30
 
2,812
2,932,649
7.38%, 01/31/32
 
4,391
4,572,520
Security
 
Par
(000)
Value
Insurance (continued)
Jones Deslauriers Insurance Management, Inc.(b)
 
8.50%, 03/15/30(g)
USD
747
$ 784,806
6.88%, 10/01/33
 
351
349,160
Nassau Cos., of New York, 7.88%, 07/15/30(b)
 
96
98,046
Panther Escrow Issuer LLC, 7.13%, 06/01/31(b)(g)
 
2,505
2,605,496
Ryan Specialty LLC(b)
 
4.38%, 02/01/30
 
125
121,111
5.88%, 08/01/32
 
232
234,595
Unipol Assicurazioni SpA, 4.90%, 05/23/34(d)
EUR
100
123,629
USI, Inc., 7.50%, 01/15/32(b)(g)
USD
465
487,635
 
 
23,821,227
Interactive Media & Services — 0.2%
iliad SA(d)
 
5.63%, 02/15/30
EUR
100
126,057
4.25%, 01/09/32
 
100
118,042
Snap, Inc.(b)
 
6.88%, 03/01/33
USD
456
466,077
6.88%, 03/15/34
 
279
282,385
 
 
992,561
Internet Software & Services(b) — 0.6%
Acuris Finance U.S., Inc./Acuris Finance SARL
 
5.00%, 05/01/28
 
403
391,666
9.00%, 08/01/29
 
200
209,000
Cablevision Lightpath LLC
 
3.88%, 09/15/27
 
200
194,168
5.63%, 09/15/28(g)
 
400
393,470
Getty Images, Inc., 11.25%, 02/21/30
 
230
219,634
ION Trading Technologies SARL, 9.50%, 05/30/29
 
200
211,235
Match Group Holdings II LLC
 
4.63%, 06/01/28
 
157
154,226
4.13%, 08/01/30
 
198
187,009
3.63%, 10/01/31(g)
 
200
181,265
6.13%, 09/15/33
 
342
345,004
Rakuten Group, Inc.
 
11.25%, 02/15/27
 
214
231,943
9.75%, 04/15/29(g)
 
361
405,932
 
 
3,124,552
IT Services — 0.8%
Almaviva-The Italian Innovation Co. SpA, 5.00%,
10/30/30(d)
EUR
100
119,264
Amentum Holdings, Inc., 7.25%, 08/01/32(b)(g)
USD
258
267,898
Atos SE(d)(l)
 
5.20%, 12/18/30
EUR
43
47,610
9.36%, 12/18/29
 
39
52,382
CA Magnum Holdings, 5.38%, 10/31/26(b)(g)
USD
542
539,358
CACI International, Inc., 6.38%, 06/15/33(b)
 
340
350,727
Fair Isaac Corp.(b)(g)
 
4.00%, 06/15/28
 
354
344,281
6.00%, 05/15/33
 
1,159
1,173,422
Fortress Intermediate 3, Inc., 7.50%, 06/01/31(b)(g)
 
598
626,131
Insight Enterprises, Inc., 6.63%, 05/15/32(b)
 
148
151,744
McAfee Corp., 7.38%, 02/15/30(b)(g)
 
420
389,588
Science Applications International Corp.(b)
 
4.88%, 04/01/28(g)
 
113
111,856
5.88%, 11/01/33
 
235
235,073
 
 
4,409,334
Machinery — 1.0%
ATS Corp., 4.13%, 12/15/28(b)
 
108
103,474
Chart Industries, Inc.(b)
 
7.50%, 01/01/30(g)
 
535
556,793
9.50%, 01/01/31
 
79
84,637
Schedule of Investments
11
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Machinery (continued)
Esab Corp., 6.25%, 04/15/29(b)
USD
266
$ 273,263
GrafTech Global Enterprises, Inc., 9.88%, 12/23/29(b)(g)
 
145
123,613
Husky Injection Molding Systems Ltd./Titan Co-Borrower
LLC, 9.00%, 02/15/29(b)(g)
 
741
774,487
IMA Industria Macchine Automatiche SpA, (3-mo.
EURIBOR + 3.75%), 5.78%, 04/15/29(a)(d)
EUR
100
118,492
Manitowoc Co., Inc., 9.25%, 10/01/31(b)
USD
137
143,742
Terex Corp.(b)
 
5.00%, 05/15/29(g)
 
65
64,012
6.25%, 10/15/32
 
218
222,076
TK Elevator Midco GmbH, 4.38%, 07/15/27(d)
EUR
311
365,539
TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27(b)(g)
USD
1,729
1,722,887
Vertiv Group Corp., 4.13%, 11/15/28(b)(g)
 
730
712,830
 
 
5,265,845
Media — 3.6%
Cable One, Inc.(k)
 
0.00%, 03/15/26(m)
 
88
85,712
1.13%, 03/15/28(g)
 
777
663,170
CCO Holdings LLC/CCO Holdings Capital Corp.(b)
 
5.38%, 06/01/29
 
57
56,620
6.38%, 09/01/29(g)
 
1,469
1,489,178
4.75%, 03/01/30(g)
 
179
171,763
4.25%, 02/01/31(g)
 
475
437,585
7.38%, 03/01/31(g)
 
1,567
1,616,807
4.75%, 02/01/32
 
32
29,592
4.50%, 06/01/33
 
19
16,892
4.25%, 01/15/34(g)
 
996
861,105
Charter Communications Operating LLC/Charter
Communications Operating Capital, 5.38%,
05/01/47(g)
 
425
367,342
Cinemark USA, Inc., 7.00%, 08/01/32(b)
 
75
77,951
CSC Holdings LLC(b)
 
5.50%, 04/15/27
 
600
569,477
5.38%, 02/01/28
 
600
526,011
11.25%, 05/15/28
 
600
555,455
11.75%, 01/31/29(g)
 
600
504,566
Directv Financing LLC, 8.88%, 02/01/30(b)
 
484
478,057
Directv Financing LLC/Directv Financing Co-Obligor,
Inc.(b)(g)
 
5.88%, 08/15/27
 
366
365,589
10.00%, 02/15/31
 
704
702,967
DISH DBS Corp.(b)
 
5.25%, 12/01/26
 
1,133
1,113,279
5.75%, 12/01/28
 
934
895,370
DISH Network Corp., 11.75%, 11/15/27(b)
 
1,301
1,376,792
Gray Media, Inc.(b)
 
10.50%, 07/15/29(g)
 
365
394,657
9.63%, 07/15/32
 
420
429,088
7.25%, 08/15/33(g)
 
545
540,069
LCPR Senior Secured Financing DAC, 6.75%,
10/15/27(b)
 
560
335,308
Live Nation Entertainment, Inc., 4.75%, 10/15/27(b)(g)
 
211
209,604
Midcontinent Communications, 8.00%, 08/15/32(b)
 
252
259,636
Odeon Finco PLC, 12.75%, 11/01/27(b)
 
200
207,150
Sinclair Television Group, Inc., 8.13%, 02/15/33(b)(g)
 
655
672,207
Sirius XM Radio LLC(b)
 
3.13%, 09/01/26
 
397
391,522
5.00%, 08/01/27(g)
 
477
474,710
4.00%, 07/15/28
 
97
93,729
Sunrise FinCo I BV, 4.88%, 07/15/31(b)(g)
 
249
237,210
Security
 
Par
(000)
Value
Media (continued)
Univision Communications, Inc.(b)
 
8.00%, 08/15/28(g)
USD
640
$ 663,181
8.50%, 07/31/31(g)
 
375
387,241
9.38%, 08/01/32
 
398
424,135
Virgin Media Vendor Financing Notes IV DAC, 5.00%,
07/15/28(b)(g)
 
554
542,671
VZ Secured Financing BV, 5.25%, 01/15/33(d)
EUR
100
117,400
Ziggo Bond Co. BV, 5.13%, 02/28/30(b)
USD
225
203,943
Ziggo BV, 4.88%, 01/15/30(b)
 
200
188,771
 
 
19,733,512
Metals & Mining — 1.8%
Advanced Drainage Systems, Inc., 6.38%, 06/15/30(b)(g)
 
240
244,251
Arsenal AIC Parent LLC(b)
 
8.00%, 10/01/30
 
186
196,936
11.50%, 10/01/31(g)
 
939
1,042,879
Big River Steel LLC/BRS Finance Corp., 6.63%,
01/31/29(b)(g)
 
806
806,315
Carpenter Technology Corp., 7.63%, 03/15/30
 
367
377,139
Cleveland-Cliffs, Inc., 6.88%, 11/01/29(b)
 
437
445,332
Constellium SE(b)(g)
 
5.63%, 06/15/28
 
500
499,249
3.75%, 04/15/29
 
735
699,340
6.38%, 08/15/32
 
317
324,037
First Quantum Minerals Ltd.(b)
 
8.00%, 03/01/33
 
200
211,079
7.25%, 02/15/34
 
200
206,050
Glencore Funding LLC, 6.14%, 04/01/55(b)(g)
 
500
522,702
Kaiser Aluminum Corp.(b)(g)
 
4.63%, 03/01/28
 
243
240,279
4.50%, 06/01/31
 
770
725,748
New Gold, Inc., 6.88%, 04/01/32(b)
 
305
319,464
Novelis Corp.(b)(g)
 
4.75%, 01/30/30
 
630
607,109
6.88%, 01/30/30
 
348
360,867
3.88%, 08/15/31
 
860
784,052
6.38%, 08/15/33
 
678
685,008
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29(d)
EUR
200
228,608
Samarco Mineracao SA(i)
 
(9.50% PIK), 9.50%, 06/30/31(d)
USD
15
15,378
(9.50% PIK), 9.50%, 06/30/31(b)
 
6
5,492
Vallourec SACA, 7.50%, 04/15/32(b)(g)
 
517
550,845
Volcan Cia Minera SAA, 8.75%, 01/24/30(b)
 
23
23,858
 
 
10,122,017
Mortgage Real Estate Investment Trusts (REITs)(b) — 0.2%
Arbor Realty SR, Inc., 7.88%, 07/15/30
 
144
151,407
Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27
 
284
277,258
Starwood Property Trust, Inc.
 
7.25%, 04/01/29
 
171
179,558
6.00%, 04/15/30
 
90
91,368
6.50%, 07/01/30
 
174
179,976
6.50%, 10/15/30
 
238
245,846
 
 
1,125,413
Multi-Utilities — 0.0%
AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%,
06/01/30(b)
 
123
128,766
Oil, Gas & Consumable Fuels — 7.3%
Aethon United BR LP/Aethon United Finance Corp.,
7.50%, 10/01/29(b)
 
393
409,858
12
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Oil, Gas & Consumable Fuels (continued)
Antero Midstream Partners LP/Antero Midstream
Finance Corp.(b)
 
5.38%, 06/15/29
USD
206
$ 205,245
6.63%, 02/01/32
 
230
236,884
Ascent Resources Utica Holdings LLC/ARU Finance
Corp.(b)
 
9.00%, 11/01/27
 
165
199,345
5.88%, 06/30/29
 
35
34,928
6.63%, 07/15/33
 
170
172,832
Blue Racer Midstream LLC/Blue Racer Finance Corp.(b)
 
7.00%, 07/15/29
 
224
232,273
7.25%, 07/15/32
 
180
189,300
Buckeye Partners LP
 
6.88%, 07/01/29(b)
 
20
20,727
6.75%, 02/01/30(b)
 
87
90,362
5.85%, 11/15/43
 
145
135,236
5.60%, 10/15/44
 
86
78,177
Caturus Energy LLC, 8.50%, 02/15/30(b)(g)
 
623
648,648
Chord Energy Corp., 6.75%, 03/15/33(b)
 
110
111,451
CITGO Petroleum Corp., 8.38%, 01/15/29(b)
 
778
808,491
Civitas Resources, Inc.(b)(g)
 
8.38%, 07/01/28
 
232
240,479
8.75%, 07/01/31
 
179
183,387
CNX Midstream Partners LP, 4.75%, 04/15/30(b)
 
96
92,058
CNX Resources Corp., 7.25%, 03/01/32(b)
 
114
118,267
Comstock Resources, Inc.(b)
 
6.75%, 03/01/29(g)
 
362
361,409
6.75%, 03/01/29
 
137
136,178
5.88%, 01/15/30(g)
 
443
426,634
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%,
06/15/31(b)
 
1,617
1,601,969
Crescent Energy Finance LLC(b)
 
7.63%, 04/01/32(g)
 
397
394,258
7.38%, 01/15/33(g)
 
391
380,703
8.38%, 01/15/34
 
381
386,028
Delek Logistics Partners LP/Delek Logistics Finance
Corp., 7.38%, 06/30/33(b)
 
291
295,917
Diamond Foreign Asset Co./Diamond Finance LLC,
8.50%, 10/01/30(b)
 
125
132,461
Ecopetrol SA, 8.88%, 01/13/33
 
122
132,352
eG Global Finance PLC, 12.00%, 11/30/28(b)(g)
 
298
327,310
Enbridge, Inc., Series 2020-A, (5-year CMT + 5.31%),
5.75%, 07/15/80(a)
 
2,000
2,019,226
Energy Transfer LP(g)
 
3.90%, 07/15/26
 
235
234,507
(5-year CMT + 4.02%), 8.00%, 05/15/54(a)
 
469
501,184
Series H, (5-year CMT + 5.69%), 6.50%(a)(o)
 
4,409
4,425,446
EQT Corp., 4.50%, 01/15/29
 
20
20,003
Excelerate Energy LP, 8.00%, 05/15/30(b)
 
189
201,185
Genesis Energy LP/Genesis Energy Finance Corp.
 
7.75%, 02/01/28
 
182
183,282
7.88%, 05/15/32(g)
 
336
350,432
8.00%, 05/15/33
 
116
121,330
Global Partners LP/GLP Finance Corp., 7.13%,
07/01/33(b)
 
125
128,123
Gulfport Energy Operating Corp., 6.75%, 09/01/29(b)
 
189
193,951
Harvest Midstream I LP, 7.50%, 05/15/32(b)
 
112
114,409
Hess Corp., 4.30%, 04/01/27
 
50
50,165
Hess Midstream Operations LP(b)
 
6.50%, 06/01/29(g)
 
276
284,648
4.25%, 02/15/30
 
112
108,555
Hilcorp Energy I LP/Hilcorp Finance Co.(b)
 
6.25%, 11/01/28
 
145
145,358
Security
 
Par
(000)
Value
Oil, Gas & Consumable Fuels (continued)
Hilcorp Energy I LP/Hilcorp Finance Co.(b) (continued)
 
5.75%, 02/01/29
USD
155
$ 152,690
6.00%, 04/15/30
 
21
20,638
6.25%, 04/15/32
 
16
15,350
8.38%, 11/01/33(g)
 
326
342,391
6.88%, 05/15/34
 
379
364,389
7.25%, 02/15/35
 
148
144,638
Howard Midstream Energy Partners LLC(b)
 
7.38%, 07/15/32(g)
 
111
115,221
6.63%, 01/15/34
 
305
310,970
Impulsora Pipeline LLC, 6.05%, 01/01/43(a)
 
1,240
1,072,174
ITT Holdings LLC, 6.50%, 08/01/29(b)(g)
 
502
493,534
Kinetik Holdings LP(b)
 
6.63%, 12/15/28
 
58
59,532
5.88%, 06/15/30
 
53
53,308
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas
Finance Corp., 6.88%, 12/01/32(b)
 
148
151,880
Matador Resources Co.(b)(g)
 
6.88%, 04/15/28
 
276
281,669
6.50%, 04/15/32
 
303
305,899
MPLX LP, 4.25%, 12/01/27(g)
 
185
185,180
Murphy Oil Corp., 5.88%, 12/01/42
 
29
25,357
Nabors Industries, Inc., 7.38%, 05/15/27(b)
 
118
119,783
NGL Energy Operating LLC/NGL Energy Finance
Corp.(b)(g)
 
8.13%, 02/15/29
 
260
266,583
8.38%, 02/15/32
 
863
884,269
Noble Finance II LLC, 8.00%, 04/15/30(b)(g)
 
114
117,997
Northern Oil & Gas, Inc.(b)
 
8.13%, 03/01/28(g)
 
729
739,293
10/15/33(h)
 
493
491,049
Northriver Midstream Finance LP, 6.75%, 07/15/32(b)
 
172
175,886
Parkland Corp., 6.63%, 08/15/32(b)
 
201
206,540
PBF Holding Co. LLC/PBF Finance Corp., 7.88%,
09/15/30(b)
 
160
157,971
Permian Resources Operating LLC(b)
 
8.00%, 04/15/27
 
272
276,225
5.88%, 07/01/29(g)
 
411
412,840
7.00%, 01/15/32(g)
 
221
229,207
6.25%, 02/01/33
 
280
285,223
Petrobras Global Finance BV, 6.75%, 01/27/41
 
27
27,255
Petroleos Mexicanos
 
6.50%, 03/13/27
 
85
85,999
8.75%, 06/02/29
 
130
140,067
5.95%, 01/28/31(g)
 
158
153,181
Prairie Acquiror LP, 9.00%, 08/01/29(b)
 
192
199,892
Rockies Express Pipeline LLC, 4.95%, 07/15/29(b)
 
51
50,586
Sunoco LP(b)
 
5.63%, 03/15/31
 
124
123,085
6.25%, 07/01/33
 
254
258,532
5.88%, 03/15/34
 
125
123,918
Tallgrass Energy Partners LP/Tallgrass Energy Finance
Corp.(b)
 
5.50%, 01/15/28
 
148
147,247
7.38%, 02/15/29(g)
 
501
515,951
6.00%, 12/31/30
 
3
2,963
6.00%, 09/01/31
 
100
97,842
TGNR Intermediate Holdings LLC, 5.50%, 10/15/29(b)(g)
 
347
339,555
Transcontinental Gas Pipe Line Co. LLC, 4.00%,
03/15/28(g)
 
280
279,199
TransMontaigne Partners LLC, 8.50%, 06/15/30(b)
 
56
58,353
Transocean International Ltd.(b)
 
8.00%, 02/01/27(g)
 
432
431,399
Schedule of Investments
13
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Oil, Gas & Consumable Fuels (continued)
Transocean International Ltd.(b) (continued)
 
8.25%, 05/15/29(g)
USD
138
$ 136,050
8.75%, 02/15/30(g)
 
37
38,667
8.50%, 05/15/31(g)
 
248
243,048
10/15/32(h)
 
195
195,000
Transocean Titan Financing Ltd., 8.38%, 02/01/28(b)
 
59
60,549
Valaris Ltd., 8.38%, 04/30/30(b)(g)
 
515
534,490
Venture Global LNG, Inc.(b)(g)
 
9.50%, 02/01/29
 
1,893
2,086,133
7.00%, 01/15/30
 
584
604,303
8.38%, 06/01/31
 
1,270
1,333,462
9.88%, 02/01/32
 
1,288
1,402,275
Venture Global Plaquemines LNG LLC(b)(g)
 
7.50%, 05/01/33
 
372
411,064
6.50%, 01/15/34
 
889
935,812
7.75%, 05/01/35
 
339
382,632
6.75%, 01/15/36
 
927
984,638
Vista Energy Argentina SAU, 8.50%, 06/10/33(b)
 
16
16,304
Vital Energy, Inc.
 
7.75%, 07/31/29(b)
 
115
113,886
9.75%, 10/15/30(g)
 
251
262,059
7.88%, 04/15/32(b)(g)
 
552
535,847
Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29(b)
 
252
254,614
 
 
39,888,514
Passenger Airlines(b) — 0.2%
American Airlines, Inc., 8.50%, 05/15/29(g)
 
306
319,205
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
5.75%, 04/20/29
 
48
47,682
JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%,
09/20/31
 
275
278,925
OneSky Flight LLC, 8.88%, 12/15/29
 
250
262,888
United Airlines, Inc., 4.63%, 04/15/29(g)
 
241
237,310
 
 
1,146,010
Personal Care Products — 0.1%
Opal Bidco SAS
 
5.50%, 03/31/32(d)
EUR
100
121,513
6.50%, 03/31/32(b)
USD
317
324,844
Perrigo Finance Unlimited Co., 6.13%, 09/30/32
 
220
221,475
 
 
667,832
Pharmaceuticals — 1.6%
1261229 B.C. Ltd., 10.00%, 04/15/32(b)(g)
 
3,200
3,280,167
AbbVie, Inc., 4.25%, 11/14/28(g)
 
1,000
1,007,933
Amneal Pharmaceuticals LLC, 6.88%, 08/01/32(b)
 
175
180,987
Bausch Health Cos., Inc.(b)
 
4.88%, 06/01/28
 
54
48,330
11.00%, 09/30/28(g)
 
1,577
1,640,110
CVS Health Corp., 3.75%, 04/01/30(g)
 
1,000
968,709
Dolcetto Holdco SpA, 5.63%, 07/14/32(d)
EUR
100
120,369
Grifols SA(d)
 
2.25%, 11/15/27
 
163
188,164
7.13%, 05/01/30
 
100
123,672
Gruenenthal GmbH, 4.63%, 11/15/31(d)
 
100
119,871
Nidda Healthcare Holding GmbH, 7.00%, 02/21/30(d)
 
100
122,390
Option Care Health, Inc., 4.38%, 10/31/29(b)(g)
USD
245
236,282
Organon & Co./Organon Foreign Debt Co-Issuer BV,
4.13%, 04/30/28(b)(g)
 
400
386,457
Security
 
Par
(000)
Value
Pharmaceuticals (continued)
Rossini SARL, (3-mo. EURIBOR + 3.88%), 5.88%,
12/31/29(a)(d)
EUR
42
$ 50,456
Teva Pharmaceutical Finance Netherlands III BV, 3.15%,
10/01/26(g)
USD
302
295,960
 
 
8,769,857
Real Estate Management & Development — 0.3%
Adler Financing SARL, Series 1L, (8.25% PIK), 8.25%,
12/31/28(i)
EUR
58
72,966
Alexandrite Lake Lux Holdings SARL, 6.75%,
07/30/30(d)
 
100
120,108
Anywhere Real Estate Group LLC/Anywhere Co-Issuer
Corp.
 
7.00%, 04/15/30(b)
USD
206
208,028
Series AI, 7.00%, 04/15/30(g)
 
271
274,455
Anywhere Real Estate Group LLC/Realogy Co-Issuer
Corp., 9.75%, 04/15/30(b)
 
133
145,147
Cushman & Wakefield U.S. Borrower LLC, 8.88%,
09/01/31(b)
 
181
193,185
Fantasia Holdings Group Co. Ltd.(d)(e)(j)
 
11.75%, 04/17/22
 
400
4,500
11.88%, 06/01/23
 
200
3,000
9.25%, 07/28/23
 
200
3,000
9.88%, 10/19/23
 
200
4,125
Five Point Operating Co. LP, 8.00%, 10/01/30(b)
 
84
85,241
Howard Hughes Corp.(b)
 
4.13%, 02/01/29
 
149
142,933
4.38%, 02/01/31
 
100
93,757
New Immo Holding SA, 3.25%, 07/23/27(d)
EUR
100
115,686
Vivion Investments SARL, (6.50% PIK), 6.50%,
08/31/28(d)(i)
 
102
118,887
 
 
1,585,018
Retail REITs — 0.1%
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR
Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27(b)(g)
USD
327
321,164
Semiconductors & Semiconductor Equipment — 1.0%
Amkor Technology, Inc., 5.88%, 10/01/33(b)
 
76
76,774
Broadcom, Inc.(g)
 
4.11%, 09/15/28
 
1,594
1,598,935
3.50%, 02/15/41(b)
 
700
576,049
Kioxia Holdings Corp., 6.63%, 07/24/33
 
272
279,624
MKS, Inc., 1.25%, 06/01/30(k)
 
569
623,055
ON Semiconductor Corp., 0.50%, 03/01/29(k)
 
258
238,049
QUALCOMM, Inc.(g)
 
1.65%, 05/20/32
 
1,779
1,505,009
4.30%, 05/20/47
 
600
514,021
 
 
5,411,516
Software — 3.7%
AthenaHealth Group, Inc., 6.50%, 02/15/30(b)(g)
 
3,110
3,084,554
Camelot Finance SA, 4.50%, 11/01/26(b)(g)
 
141
140,517
Capstone Borrower, Inc., 8.00%, 06/15/30(b)(g)
 
764
798,984
Central Parent LLC/CDK Global II LLC/CDK Financing
Co., Inc., 8.00%, 06/15/29(b)(g)
 
220
193,876
Central Parent, Inc./CDK Global, Inc., 7.25%,
06/15/29(b)(g)
 
296
254,872
Cloud Software Group, Inc.(b)(g)
 
6.50%, 03/31/29
 
2,110
2,129,033
9.00%, 09/30/29
 
3,340
3,464,269
8.25%, 06/30/32
 
1,932
2,049,376
CoreLogic, Inc., 4.50%, 05/01/28(b)(g)
 
1,313
1,273,088
CoreWeave, Inc., 9.25%, 06/01/30(b)
 
286
295,379
14
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Software (continued)
Elastic NV, 4.13%, 07/15/29(b)(g)
USD
226
$ 216,938
Electronic Arts, Inc., 2.95%, 02/15/51
 
156
135,289
Ellucian Holdings, Inc., 6.50%, 12/01/29(b)(g)
 
413
419,574
Helios Software Holdings, Inc./ION Corporate Solutions
Finance SARL
 
4.63%, 05/01/28(b)
 
200
193,431
7.88%, 05/01/29(d)
EUR
100
122,851
8.75%, 05/01/29(b)
USD
217
224,911
Oracle Corp.(g)
 
3.60%, 04/01/50
 
785
552,608
6.13%, 08/03/65
 
500
501,934
SS&C Technologies, Inc., 6.50%, 06/01/32(b)(g)
 
446
461,091
TeamSystem SpA, (3-mo. EURIBOR + 3.25%), 5.19%,
07/01/32(a)(d)
EUR
100
117,535
Twilio, Inc.
 
3.63%, 03/15/29
USD
112
106,726
3.88%, 03/15/31(g)
 
251
236,008
UKG, Inc., 6.88%, 02/01/31(b)(g)
 
2,662
2,746,745
ZoomInfo Technologies LLC/ZoomInfo Finance Corp.,
3.88%, 02/01/29(b)
 
388
367,753
 
 
20,087,342
Specialty Retail — 0.1%
Advance Auto Parts, Inc., 7.00%, 08/01/30(b)
 
168
172,847
Afflelou SAS, 6.00%, 07/25/29(d)
EUR
100
122,466
Duomo Bidco SpA, (3-mo. EURIBOR + 4.13%), 6.15%,
07/15/31(a)(d)
 
100
118,108
Staples, Inc., 10.75%, 09/01/29(b)
USD
185
182,922
Suburban Propane Partners LP/Suburban Energy
Finance Corp., 5.00%, 06/01/31(b)
 
91
86,586
 
 
682,929
Technology Hardware, Storage & Peripherals(b) — 0.2%
Seagate Data Storage Technology Pte Ltd.
 
8.25%, 12/15/29
 
449
475,312
5.88%, 07/15/30
 
249
253,337
8.50%, 07/15/31(g)
 
557
589,672
 
 
1,318,321
Textiles, Apparel & Luxury Goods — 0.3%
Beach Acquisition Bidco LLC(b)
 
5.25%, 07/15/32
EUR
435
523,522
(10.00% PIK), 10.00%, 07/15/33(g)(i)
USD
759
818,705
Crocs, Inc., 4.25%, 03/15/29(b)
 
25
23,958
Hanesbrands, Inc., 9.00%, 02/15/31(b)
 
15
15,876
Levi Strauss & Co.(b)
 
4.00%, 08/15/30
EUR
120
142,961
3.50%, 03/01/31
USD
16
14,855
PrestigeBidCo GmbH, (3-mo. EURIBOR + 3.75%),
5.78%, 07/01/29(a)(d)
EUR
100
118,071
 
 
1,657,948
Tobacco — 0.1%
BAT Capital Corp., 7.08%, 08/02/43(g)
USD
500
565,841
Transportation Infrastructure — 0.1%
Edge Finco PLC, 8.13%, 08/15/31(d)
GBP
100
143,400
Incora Top Holdco LLC, 6.00%, 01/31/33(c)
USD
198
49,793
Mobico Group PLC, 3.63%, 11/20/28(d)
GBP
100
113,566
 
 
306,759
Water Utilities — 0.2%
American Water Capital Corp., 4.45%, 06/01/32(g)
USD
900
898,177
Security
 
Par
(000)
Value
Wireless Telecommunication Services — 0.7%
Altice France SA(b)
 
5.50%, 01/15/28
USD
381
$ 335,280
5.13%, 01/15/29
 
200
172,000
5.13%, 07/15/29
 
1,400
1,195,600
5.50%, 10/15/29
 
200
172,987
Digicel International Finance Ltd./Difl U.S. LLC, 8.63%,
08/01/32(b)(g)
 
945
969,523
Ligado Networks LLC, (15.50% PIK), 15.50%,
11/01/23(b)(e)(i)(j)
 
217
71,216
Telecom Argentina SA, 9.25%, 05/28/33(b)
 
9
8,805
Vmed O2 U.K. Financing I PLC
 
4.00%, 01/31/29(d)
GBP
100
128,083
4.25%, 01/31/31(b)(g)
USD
600
556,300
4.75%, 07/15/31(b)
 
200
188,249
WOM Mobile SA, (11.00% PIK), 11.00%, 04/01/31(b)(i)
 
12
11,093
Zegona Finance PLC, 6.75%, 07/15/29(d)
EUR
90
111,864
 
 
3,921,000
Total Corporate Bonds — 73.6%
(Cost: $394,853,000)
402,319,012
Fixed Rate Loan Interests
Distributors — 0.0%
TMK Hawk Parent Corp., 2024 PIK Term Loan, 11.00%,
12/15/31(c)
USD
26
—
Diversified Consumer Services — 0.0%
Clover Holdings SPV III LLC, 2024 USD Term Loan,
15.00%, 12/09/27
 
37
37,848
IT Services — 0.2%
Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%,
12/09/31
 
1,021
1,026,188
X Corp., 2025 Fixed Term Loan, 9.50%, 10/26/29
 
91
91,215
 
 
1,117,403
Software — 0.1%
Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31
 
595
596,672
Total Fixed Rate Loan Interests — 0.3%
(Cost: $1,766,392)
1,751,923
Floating Rate Loan Interests(a)
Advertising Agencies — 0.2%
Clear Channel Outdoor Holdings, Inc., 2024 Term Loan,
(1-mo. CME Term SOFR at 0.00% Floor + 4.11%),
8.28%, 08/23/28
 
348
347,670
Outfront Media Capital LLC, 2025 Term Loan B,
09/24/32(p)
 
401
400,751
Planet U.S. Buyer LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR + 3.00%), 7.20%, 02/07/31
 
236
237,090
Summer BC Holdco B SARL, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 5.26%),
9.26%, 02/15/29
 
148
145,532
 
 
1,131,043
Aerospace & Defense — 1.7%
Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.50%,
10/31/30
 
658
657,238
Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-
mo. CME Term SOFR + 4.18%), 8.37%, 08/03/29
 
650
649,630
Schedule of Investments
15
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Aerospace & Defense (continued)
Dynasty Acquisition Co., Inc.
 
2024 1st Lien Term Loan B1, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 6.16%, 10/31/31
USD
1,285
$ 1,285,276
2024 1st Lien Term Loan B2, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 6.16%, 10/31/31
 
489
489,101
Goat Holdco LLC, 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.91%, 01/27/32
 
275
274,768
Kaman Corp.
 
2025 Delayed Draw Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 2.50%), 6.83%, 02/26/32
 
3
3,091
2025 Term Loan B, (6-mo. CME Term SOFR at 0.50%
Floor + 2.75%), 6.66%, 02/26/32
 
352
350,439
Propulsion BC Finco SARL, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 7.04%,
09/14/29
 
116
116,574
TransDigm, Inc.
 
2023 Term Loan J, (3-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.50%, 02/28/31
 
2,703
2,701,199
2024 Term Loan L, (3-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.50%, 01/19/32
 
487
486,744
2025 Term Loan K, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.25%, 03/22/30
 
845
843,949
2025 Term Loan M, (1-mo. CME Term SOFR at 0.00%
Floor + 2.50%), 6.66%, 08/19/32
 
1,683
1,680,846
 
 
9,538,855
Air Freight & Logistics — 0.2%
Rand Parent LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.00%, 03/18/30
 
705
701,139
Stonepeak Nile Parent LLC, 2025 Term Loan B,
04/09/32(p)
 
285
284,644
 
 
985,783
Automobile Components — 0.7%
Clarios Global LP
 
2024 USD Term Loan B, (1-mo. CME Term SOFR +
2.50%), 6.66%, 05/06/30
 
1,826
1,824,431
2025 USD Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 2.75%), 6.91%, 01/28/32
 
875
874,729
Garrett LX I SARL, 2025 USD Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 2.00%), 6.31%,
01/30/32
 
53
52,603
RealTruck Group, Inc., 2023 Incremental Term Loan,
(1-mo. CME Term SOFR + 5.11%), 9.28%, 01/31/28
 
234
217,529
Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term
SOFR + 5.10%), 9.30%, 11/17/28
 
829
810,090
 
 
3,779,382
Beverages — 0.5%
Naked Juice LLC
 
2025 FLFO Term Loan, (3-mo. CME Term SOFR at
1.00% Floor + 5.50%), 9.50%, 01/24/29
 
1,003
1,007,488
2025 FLSO Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.35%), 7.35%, 01/24/29
 
449
337,492
2025 FLTO Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 6.10%), 10.10%, 01/24/30
 
325
132,340
Security
 
Par
(000)
Value
Beverages (continued)
Primo Brands Corp., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 2.25%), 6.25%,
03/31/28
USD
501
$ 500,994
Sazerac Co., Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.70%, 07/09/32
 
600
603,336
 
 
2,581,650
Building Products — 2.6%
Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 7.16%,
09/08/32
 
2,035
2,035,715
CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 5.25%), 9.41%, 07/08/30
 
567
554,242
CP Iris Holdco I, Inc., 2021 Term Loan, (1-mo. CME Term
SOFR + 3.50%), 7.66%, 10/02/28
 
687
685,838
EMRLD Borrower LP
 
2024 Term Loan B, (6-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.12%, 08/04/31
 
913
908,716
Term Loan B, (3-mo. CME Term SOFR at 0.00% Floor
+ 2.25%), 6.45%, 05/31/30
 
1,483
1,477,726
Foundation Building Materials, Inc., 2024 Term Loan B2,
(3-mo. CME Term SOFR at 0.00% Floor + 4.00%),
8.31%, 01/29/31
 
1,251
1,252,589
Gulfside Supply, Inc., Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.00%, 06/17/31
 
267
266,715
New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 6.00%), 10.16%, 03/08/29
 
194
178,355
Potters Borrower LP, 2025 Repriced Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 3.00%), 7.16%,
12/14/27
 
254
254,726
Quikrete Holdings, Inc.
 
2024 Term Loan B1, (1-mo. CME Term SOFR +
2.25%), 6.41%, 03/19/29
 
695
695,616
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.41%, 02/10/32
 
379
378,837
2025 Term Loan B1, (1-mo. CME Term SOFR at
0.00% Floor + 2.25%), 6.41%, 04/14/31
 
787
786,596
QXO, Inc., Term Loan B, (1-mo. CME Term SOFR at
0.00% Floor + 3.00%), 7.16%, 04/30/32
 
245
246,658
Standard Industries, Inc., 2021 Term Loan B, (1-mo.
CME Term SOFR + 1.75%), 5.89%, 09/22/28
 
216
215,953
White Cap Supply Holdings LLC, 2024 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.42%, 10/19/29
 
2,150
2,149,599
Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 4.25%), 8.25%, 08/05/31
 
1,677
1,618,527
Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR +
2.11%), 6.28%, 10/04/28
 
389
391,245
 
 
14,097,653
Capital Markets — 1.4%
Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.91%,
07/30/31
 
212
212,623
Allspring Buyer LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.75%), 6.81%,
11/01/30
 
321
321,035
AqGen Island Holdings, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.16%,
08/02/28
 
1,056
1,054,543
16
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Capital Markets (continued)
Aretec Group, Inc., 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.66%,
08/09/30
USD
330
$ 330,260
Citadel Securities LP, 2024 First Lien Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
10/31/31
 
744
745,627
Edelman Financial Engines Center LLC, 2024 Term
Loan, (1-mo. CME Term SOFR at 0.00% Floor +
3.00%), 7.16%, 04/07/28
 
759
759,294
Focus Financial Partners LLC, 2025 Incremental Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.75%), 6.91%, 09/15/31
 
1,060
1,060,073
Gryphon Acquire NewCo LLC, Term Loan B, (6-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 6.88%,
09/13/32
 
414
414,907
GTCR Everest Borrower LLC, Add on Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.75%, 09/05/31
 
258
258,332
Guardian U.S. Holdco LLC, 2023 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.50%), 7.50%,
01/31/30
 
179
178,524
Jane Street Group LLC, 2024 Term Loan B1, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.20%,
12/15/31
 
1,217
1,206,356
Osaic Holdings, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.16%, 07/30/32
 
1,112
1,111,177
Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.66%,
10/16/31
 
81
81,237
 
 
7,733,988
Chemicals — 2.5%
Aruba Investments Holdings LLC, 2020 USD Term Loan,
(1-mo. CME Term SOFR + 4.10%), 8.26%, 11/24/27
 
326
316,114
Axalta Coating Systems U.S. Holdings, Inc., 2024 Term
Loan B7, (3-mo. CME Term SOFR at 0.50% Floor +
1.75%), 5.75%, 12/20/29
 
710
712,292
Chemours Co., 2023 USD Term Loan B, (1-mo. CME
Term SOFR + 3.00%), 7.16%, 08/18/28
 
355
354,210
Derby Buyer LLC, 2024 Repriced Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.18%,
11/01/30
 
842
842,404
Discovery Purchaser Corp., Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 3.75%), 8.08%,
10/04/29
 
179
178,393
Ecovyst Catalyst Technologies LLC, 2024 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.31%, 06/12/31
 
694
693,291
Element Solutions, Inc., 2023 Term Loan B, (1-mo. CME
Term SOFR + 1.75%), 5.91%, 12/18/30
 
809
813,562
Fortis 333, Inc., USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.50%), 7.50%, 03/29/32
 
305
303,199
HB Fuller Co., 2025 Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 5.91%, 02/15/30
 
312
312,700
INEOS U.S. Finance LLC, 2023 USD Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.41%, 02/18/30
 
293
264,259
INEOS U.S. Petrochem LLC, 2024 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 4.25%),
8.41%, 10/07/31
 
297
254,011
Security
 
Par
(000)
Value
Chemicals (continued)
Lonza Group AG, USD Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.03%), 8.03%, 07/03/28
USD
691
$ 622,196
Minerals Technologies, Inc., 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
11/26/31(c)
 
496
496,250
Momentive Performance Materials, Inc., 2023 Term
Loan, (1-mo. CME Term SOFR + 4.00%), 8.16%,
03/29/28
 
751
752,959
Nouryon Finance BV, 2024 USD Term Loan B1, (1-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.50%,
04/03/28
 
645
645,713
Olympus Water U.S. Holding Corp.
 
2024 USD Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.00%), 7.00%, 06/20/31
 
1,209
1,195,630
2025 USD Term Loan B, 07/23/32(p)
 
836
829,136
Oxea Holding Drei GmbH, 2017 USD Term Loan B2,
(3-mo. CME Term SOFR at 0.00% Floor + 4.35%),
8.64%, 04/08/31
 
847
778,054
Paint Intermediate III LLC, 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.24%,
10/09/31
 
276
274,926
Qnity Electronics, Inc., Term Loan B, 08/12/32(p)
 
887
885,891
Solstice Advanced Materials, Inc., Term Loan B,
09/17/32(p)
 
467
467,294
Sparta U.S. HoldCo LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 3.00%), 7.28%,
08/02/30
 
1,042
1,027,087
WR Grace Holdings LLC, 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.00%,
08/19/32
 
440
440,735
 
 
13,460,306
Commercial Services & Supplies — 3.3%
Aggreko Holdings, Inc., 2025 USD Term Loan, (3-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.21%,
05/21/31
 
1,006
1,008,038
AlixPartners LLP, 2025 USD Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.16%,
08/12/32
 
1,507
1,495,805
Allied Universal Holdco LLC, 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.35%),
7.51%, 08/20/32
 
2,714
2,722,195
Belron Finance LLC, 2025 Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.74%,
10/16/31
 
1,911
1,919,182
Bright Horizons Family Solutions LLC, 2025 Term Loan
B, (1-mo. CME Term SOFR at 0.50% Floor + 1.75%),
5.91%, 08/23/32
 
702
704,295
Champions Financing, Inc., 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.75%), 8.95%,
02/23/29
 
79
73,995
CHG Healthcare Services, Inc., 2025 Term Loan B1,
(3-mo. CME Term SOFR at 0.50% Floor + 2.75%),
7.05%, 09/29/28
 
451
451,327
Creative Artists Agency LLC, 2025 Repriced Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.66%, 10/01/31
 
1,789
1,790,451
Ensemble RCM LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 7.31%,
08/01/29
 
849
850,777
Schedule of Investments
17
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Commercial Services & Supplies (continued)
Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term
SOFR + 2.00%, 3.75% PIK), 3.75%, 07/31/30(i)
USD
333
$ 301,236
Garda World Security Corp., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.17%,
02/01/29
 
1,060
1,059,593
Grant Thornton Advisors LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.66%,
06/02/31
 
252
250,090
Herc Holdings, Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 6.25%, 06/02/32
 
156
156,585
Hertz Corp.
 
2021 Term Loan B, (3-mo. CME Term SOFR +
3.76%), 8.07%, 06/30/28
 
598
536,182
2021 Term Loan C, (3-mo. CME Term SOFR +
3.76%), 8.07%, 06/30/28
 
118
105,535
KUEHG Corp., 2025 Term Loan, (3-mo. CME Term
SOFR at 0.50% Floor + 2.75%), 6.75%, 06/12/30
 
249
248,632
Learning Care Group U.S. No. 2, Inc., 2024 Term Loan
B, (3-mo. CME Term SOFR + 4.00%), 8.29%,
08/11/28(c)
 
109
106,613
Mavis Tire Express Services Topco Corp., 2025 Repriced
Term Loan, (3-mo. CME Term SOFR at 0.75% Floor +
3.00%), 7.20%, 05/04/28
 
1,730
1,729,223
Prime Security Services Borrower LLC
 
2024 1st Lien Term Loan B, (6-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 6.13%, 10/13/30
 
442
441,066
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 6.00%, 03/07/32
 
930
920,764
Ryan LLC, Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.50%), 7.66%, 11/14/30
 
46
46,353
Vortex Opco LLC, Second Out Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 4.36%), 8.37%,
12/17/28
 
442
97,305
Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.66%, 01/30/31
 
1,116
1,111,711
 
 
18,126,953
Communications Equipment — 0.2%
Ciena Corp., 2025 Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.89%,
10/24/30
 
823
823,355
ORBCOMM, Inc., Term Loan B, (1-mo. CME Term SOFR
at 0.75% Floor + 4.51%), 8.62%, 09/01/28
 
305
274,776
 
 
1,098,131
Construction & Engineering — 1.1%
Apple Bidco LLC, 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.66%, 09/23/31
 
1,729
1,728,181
Brand Industrial Services, Inc., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 4.50%),
8.80%, 08/01/30
 
1,360
1,229,043
Brown Group Holding LLC
 
2022 Incremental Term Loan B2, (1-mo. CME Term
SOFR at 0.50% Floor + 2.50%), 6.87%, 07/01/31
 
740
741,585
Term Loan B, 07/01/31(p)
 
710
710,298
Construction Partners, Inc., Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.66%,
11/03/31
 
163
163,126
Security
 
Par
(000)
Value
Construction & Engineering (continued)
Cube Industrials Buyer, Inc., 2024 Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.58%,
10/17/31
USD
146
$ 146,631
Legence Holdings LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.75% Floor + 3.00%), 7.16%,
12/18/28
 
121
121,224
SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.92%,
01/25/31
 
1,020
1,022,675
 
 
5,862,763
Consumer Discretionary — 0.7%
APi Group DE, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.91%, 01/03/29
 
1,416
1,414,503
Camelot U.S. Acquisition LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR + 2.75%), 6.91%, 01/31/31
 
443
439,746
Element Materials Technology Group U.S. Holdings, Inc.,
2022 USD Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.68%), 7.68%, 07/06/29
 
335
336,805
Fleet U.S. Bidco, Inc., 2024 1st Lien Term Loan B, (6-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.54%,
02/21/31(c)
 
201
200,970
OMNIA Partners LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.81%,
07/25/30
 
337
336,546
Peer Holding III BV, 2025 USD Term Loan B, 09/27/32(p)
 
193
193,000
PG Polaris BidCo SARL, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.75%), 6.91%, 03/26/31
 
377
377,904
Raven Acquisition Holdings LLC, Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.16%,
11/19/31
 
298
298,182
TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR
+ 4.10%), 8.26%, 11/02/27
 
184
180,231
 
 
3,777,887
Consumer Finance — 1.3%
Boost Newco Borrower LLC, 2025 USD Term Loan B2,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.00%, 01/31/31
 
2,187
2,188,454
Citrin Cooperman Advisors LLC, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 3.00%),
7.00%, 04/01/32
 
425
422,455
Corpay Technologies Operating Co. LLC, Term Loan B5,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.91%, 04/28/28
 
1,631
1,627,853
Shift4 Payments LLC, 2025 Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.50%,
06/30/32
 
399
401,825
Trans Union LLC
 
2024 Term Loan B8, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 06/24/31
 
1,012
1,010,989
2024 Term Loan B9, (1-mo. CME Term SOFR at
0.50% Floor + 1.75%), 5.91%, 06/24/31
 
1,049
1,047,922
18
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Consumer Finance (continued)
WEX, Inc.
 
2024 Term Loan B2, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 03/31/28
USD
169
$ 168,450
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.91%, 03/05/32
 
308
307,003
 
 
7,174,951
Consumer Staples Distribution & Retail — 0.2%
Boots Group Finco LP, USD Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.50%), 7.70%,
08/30/32
 
659
660,371
U.S. Foods, Inc., 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.91%,
10/03/31
 
645
648,808
 
 
1,309,179
Containers & Packaging — 1.2%
Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.85%), 6.01%,
09/07/27
 
985
984,717
Charter Next Generation, Inc., 2024 Term Loan B1, (1-
mo. CME Term SOFR at 0.75% Floor + 2.75%),
6.93%, 11/29/30
 
1,871
1,875,955
Clydesdale Acquisition Holdings, Inc.
 
2025 Delayed Draw Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 7.41%, 04/01/32
 
—
(n)
487
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 3.25%), 7.41%, 04/01/32
 
927
925,573
Term Loan B, (1-mo. CME Term SOFR + 3.18%),
7.34%, 04/13/29
 
105
104,823
LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 5.10%), 9.26%,
10/30/28
 
929
759,116
Mauser Packaging Solutions Holding Co., 2024 Term
Loan B, (1-mo. CME Term SOFR + 3.00%), 7.28%,
04/15/27
 
528
527,749
Pregis TopCo Corp., 2025 Refinancing Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 4.00%),
8.16%, 02/01/29
 
423
426,185
Proampac PG Borrower LLC, 2024 Term Loan, (3-mo.
CME Term SOFR + 4.00%), 8.26%, 09/15/28
 
102
101,971
Ring Container Technologies Group LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.50% Floor +
2.50%), 6.66%, 09/15/32
 
280
279,440
Trident TPI Holdings, Inc., 2024 Term Loan B7, (3-mo.
CME Term SOFR at 0.50% Floor + 3.75%), 7.75%,
09/15/28
 
618
605,832
 
 
6,591,848
Distributors — 1.1%
American Builders & Contractors Supply Co., Inc.,
2024 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 1.75%), 5.91%, 01/31/31
 
843
844,745
Core & Main LP
 
2024 Term Loan D, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 6.17%, 07/27/28
 
1,516
1,514,961
2024 Term Loan E, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 6.17%, 02/09/31
 
374
373,153
Dealer Tire Financial LLC, 2024 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.00%),
7.16%, 07/02/31
 
688
683,792
Security
 
Par
(000)
Value
Distributors (continued)
Gates Corp./DE, 2024 Term Loan B5, (1-mo. CME Term
SOFR + 1.75%), 5.91%, 06/04/31
USD
1,279
$ 1,276,438
PAI Holdco, Inc., 2020 Term Loan B, (3-mo. CME Term
SOFR + 4.01%), 8.32%, 10/28/27
 
254
211,716
Resideo Funding, Inc., 2025 Incremental Term Loan,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.04%, 08/13/32
 
561
560,652
TMK Hawk Parent Corp., 2024 Term Loan B, (1-mo.
CME Term SOFR at 1.00% Floor + 2.00%, 3.25%
PIK), 9.41%, 06/30/29(i)
 
783
276,051
 
 
5,741,508
Diversified Consumer Services — 0.1%
Anticimex International AB, 2024 Term Loan B6, (3-mo.
SOFR + 3.40%), 7.76%, 11/16/28
 
338
338,795
Diversified Telecommunication Services — 0.7%
Altice Financing SA, USD 2017 1st Lien Term Loan,
(Prime + 1.75%), 9.00%, 01/31/26(c)
 
510
489,263
Lumen Technologies, Inc.
 
2024 Extended Term Loan B1, (1-mo. CME Term
SOFR at 2.00% Floor + 2.46%), 6.63%, 04/16/29
 
535
531,634
2024 Extended Term Loan B2, (1-mo. CME Term
SOFR at 2.00% Floor + 2.46%), 6.63%, 04/15/30
 
715
710,081
2024 Term Loan A, (1-mo. CME Term SOFR +
6.00%), 10.16%, 06/01/28
 
45
45,830
Zayo Group Holdings, Inc., 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.61%,
03/11/30
 
2,165
2,097,886
 
 
3,874,694
Electric Utilities — 0.4%
Constellation Renewables LLC, 2020 Term Loan, (3-mo.
CME Term SOFR at 1.00% Floor + 2.25%), 6.45%,
12/15/27
 
488
486,940
Pike Corp., 2021 Incremental Term Loan B, (1-mo. CME
Term SOFR + 3.11%), 7.28%, 01/21/28
 
422
424,410
Talen Energy Supply LLC, 2024-1 Incremental Term
Loan, (3-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.73%, 12/15/31
 
336
335,536
Vistra Operations Co. LLC, 1st Lien Term Loan B3, (1-
mo. CME Term SOFR + 1.75%), 5.91%, 12/20/30
 
682
682,094
 
 
1,928,980
Electronic Equipment, Instruments & Components — 0.4%
Celestica, Inc., 2024 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.92%, 06/20/31(c)
 
227
228,261
Coherent Corp., 2025 1st Lien Term Loan B2, (1-mo.
CME Term SOFR at 0.50% Floor + 1.75%), 5.94%,
07/02/29
 
455
453,749
Lsf12 Crown U.S. Commercial Bidco LLC, 2025 Term
Loan B, 12/02/31(p)
 
390
390,246
Pinnacle Buyer LLC(p)
 
Delayed Draw Term Loan, 09/10/32
 
92
92,519
Term Loan, 09/10/32
 
481
481,101
Project Aurora U.S. Finco, Inc., USD Term Loan,
09/24/32(c)(p)
 
133
133,166
Sanmina Corp., Term Loan B, 08/06/32(c)(p)
 
446
444,885
 
 
2,223,927
Schedule of Investments
19
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Energy Equipment & Services — 0.0%
Meade Pipeline Co. LLC, Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.00%,
09/22/32
USD
148
$ 147,815
Entertainment — 0.3%
Bally’s Corp., 2021 Term Loan B, (3-mo. CME Term
SOFR at 0.50% Floor + 3.51%), 7.84%, 10/02/28
 
447
432,872
Delta 2 Lux SARL, 2024 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.00%), 6.00%,
09/30/31
 
1,345
1,344,661
 
 
1,777,533
Environmental, Maintenance & Security Service — 1.5%
Action Environmental Group, Inc., 2023 Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 3.25%),
7.25%, 10/24/30(c)
 
448
447,575
Clean Harbors, Inc.
 
2024 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 1.75%), 5.91%, 10/09/28
 
650
649,668
2025 Term Loan, 09/24/32(p)
 
391
391,489
Filtration Group Corp., 2025 USD Term Loan, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.91%,
10/21/28
 
1,566
1,572,038
GFL ES US LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.50%), 6.67%, 03/03/32
 
1,305
1,303,290
JFL-Tiger Acquisition Co., Inc., Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.75%), 7.89%,
10/17/30
 
346
346,894
Madison IAQ LLC
 
2025 Term Loan B, (6-mo. CME Term SOFR at 0.50%
Floor + 3.25%), 7.45%, 05/06/32
 
846
849,390
Term Loan, (6-mo. CME Term SOFR at 0.50% Floor +
2.50%), 6.70%, 06/21/28
 
1,789
1,789,405
Packers Holdings LLC, 2021 Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 3.35%), 7.66%,
03/09/28
 
482
150,340
Reworld Holding Corp.
 
2025 1st Lien Term Loan B, 01/15/31(p)
 
210
209,345
Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor
+ 2.25%), 6.39%, 11/30/28
 
471
471,212
Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor
+ 2.25%), 6.39%, 11/30/28
 
37
36,475
 
 
8,217,121
Financial Services — 0.9%
Apex Group Treasury LLC, 2025 USD Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 3.50%),
7.75%, 02/27/32
 
875
854,284
CPI Holdco B LLC, 2024 Term Loan, (1-mo. CME Term
SOFR + 2.00%), 6.16%, 05/19/31
 
1,495
1,493,459
ION Platform Finance U.S., Inc., USD Term Loan,
09/30/32(c)(p)
 
1,848
1,831,830
Orion U.S. Finco, Inc., 1st Lien Term Loan, 05/20/32(p)
 
521
523,605
Setanta Aircraft Leasing DAC, 2024 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.75%,
11/05/28
 
207
207,797
 
 
4,910,975
Food Products — 1.5%
Aramark Services, Inc.
 
2024 Term Loan B8, (1-mo. CME Term SOFR at
0.00% Floor + 2.00%), 6.17%, 06/22/30
 
1,031
1,032,396
Security
 
Par
(000)
Value
Food Products (continued)
Aramark Services, Inc. (continued)
 
2025 Repriced Term Loan, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 04/06/28
USD
383
$ 383,187
Chobani LLC, 2025 Repriced Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.66%,
10/25/27
 
2,766
2,772,584
Froneri U.S., Inc.
 
2024 USD Term Loan B4, (6-mo. CME Term SOFR at
0.00% Floor + 2.00%), 6.20%, 09/30/31
 
1,762
1,747,088
2025 USD Term Loan, 08/02/32(p)
 
516
514,627
H-Food Holdings LLC, 2025 Exit Term Loan, (3-mo. CME
Term SOFR at 2.00% Floor + 6.50%), 10.81%,
03/29/30
 
75
75,913
Nomad Foods U.S. LLC, 2023 Term Loan B5, (6-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.54%,
11/12/29
 
576
576,228
UTZ Quality Foods LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.50%,
01/29/32
 
1,040
1,038,967
Wellness Pet LLC
 
2025 First Out Exchange Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 3.95%), 7.95%,
12/31/29
 
107
85,003
2025 Second Out Exchange Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 4.01%), 8.01%,
12/31/29
 
60
25,752
 
 
8,251,745
Ground Transportation — 0.4%
Genesee & Wyoming, Inc., 2024 Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.75%,
04/10/31
 
2,383
2,373,220
Health Care Equipment & Supplies — 0.4%
Avantor Funding, Inc., 2024 Term Loan B6, (1-mo. CME
Term SOFR at 0.50% Floor + 2.10%), 6.26%,
11/08/27
 
77
76,882
Bausch & Lomb Corp.
 
2023 Incremental Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 4.00%), 8.17%, 09/29/28
 
451
450,236
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 4.25%), 8.41%, 01/15/31
 
1,053
1,052,597
QuidelOrtho Corp., Term Loan, (3-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 8.00%, 08/20/32
 
401
398,662
 
 
1,978,377
Health Care Providers & Services — 2.1%
AHP Health Partners, Inc., 2025 Term Loan B,
09/20/32(p)
 
100
99,828
Concentra Health Services, Inc., 2025 Repriced Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.00%), 6.16%, 07/26/31
 
344
344,834
Examworks Bidco, Inc., 2021 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 2.75%), 6.91%,
11/01/28
 
1,212
1,213,800
EyeCare Partners LLC
 
2024 Second Out Term Loan B, (6-mo. CME Term
SOFR at 0.00% Floor + 1.00%, 3.61% PIK), 8.84%,
11/30/28(i)
 
306
192,443
2024 Superpriority New Money 1st Out Term Loan A,
(6-mo. CME Term SOFR at 0.00% Floor + 5.75%),
9.88%, 08/31/28
 
299
300,446
20
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Health Care Providers & Services (continued)
EyeCare Partners LLC (continued)
 
2024 Third Out Term Loan C, (3-mo. CME Term SOFR
at 0.00% Floor + 6.85%), 10.98%, 11/30/28(e)(j)
USD
15
$ 3,281
ICON Luxembourg SARL, 2024 LUX Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 2.00%),
6.00%, 07/03/28
 
254
253,583
LifePoint Health, Inc., 2024 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.75%), 8.07%,
05/19/31
 
597
595,789
Medical Solutions Holdings, Inc.
 
2021 1st Lien Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 3.60%), 7.91%, 11/01/28
 
386
132,519
2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at
0.50% Floor + 7.10%), 11.41%, 11/01/29
 
247
49,812
Medline Borrower LP
 
2025 Incremental Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 2.00%), 6.16%, 10/23/30
 
174
174,454
2025 Term Loan B, (1-mo. CME Term SOFR at 0.50%
Floor + 2.00%), 6.16%, 10/23/28
 
4,129
4,128,966
Parexel International Corp., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.66%,
11/15/28
 
1,416
1,416,497
Sotera Health Holdings LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.66%,
05/30/31
 
1,119
1,119,585
Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 4.00%), 8.00%, 09/27/30
 
463
462,473
Surgery Center Holdings, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.50%), 6.66%,
12/19/30
 
858
857,733
Team Health Holdings, Inc., 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 4.50%), 8.80%,
06/30/28
 
249
248,699
 
 
11,594,742
Hotel & Resort REITs — 0.0%
RHP Hotel Properties LP, 2024 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.16%, 05/20/30
 
246
245,635
Hotels, Restaurants & Leisure — 4.3%
Aimbridge Acquisition Co., Inc.
 
2025 1st Lien Second Out Term Loan, (1-mo. CME
Term SOFR at 1.00% Floor + 1.61%, 6.00% PIK),
11.76%, 03/11/30(i)
 
107
107,089
2025 First Out Term Loan, (1-mo. CME Term SOFR at
1.00% Floor + 5.61%), 9.76%, 03/11/30
 
117
116,941
Alterra Mountain Co., 2025 Term Loan B8, (1-mo. CME
Term SOFR at 0.00% Floor + 2.50%), 6.66%,
05/31/30
 
656
656,069
Burger King (Restaurant Brands International Inc.)/New
Red Finance, Inc., 2024 Term Loan B6, (1-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.91%,
09/20/30
 
1,161
1,156,149
Caesars Entertainment, Inc.
 
2024 Term Loan B1, (1-mo. CME Term SOFR +
2.25%), 6.41%, 02/06/31
 
1,893
1,886,395
Term Loan B, (1-mo. CME Term SOFR + 2.25%),
6.41%, 02/06/30
 
482
480,032
EOC Borrower LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.00%), 7.16%, 03/24/32
 
1,877
1,876,356
Security
 
Par
(000)
Value
Hotels, Restaurants & Leisure (continued)
Fertitta Entertainment LLC/NV, 2022 Term Loan B, (1-
mo. CME Term SOFR at 0.50% Floor + 3.25%),
7.41%, 01/27/29
USD
2,624
$ 2,619,911
Flutter Financing BV
 
2024 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.75%, 11/30/30
 
1,693
1,685,951
2025 Term Loan B, (3-mo. CME Term SOFR at 0.50%
Floor + 2.00%), 6.00%, 06/04/32
 
693
691,918
Four Seasons Hotels Ltd., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 1.75%), 5.91%,
09/22/32
 
1,297
1,298,503
Great Canadian Gaming Corp., 2024 Term Loan B, (3-
mo. CME Term SOFR at 0.00% Floor + 4.75%),
8.75%, 11/01/29
 
461
442,581
Herschend Entertainment Co. LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.41%, 05/27/32
 
487
488,099
Hilton Domestic Operating Co., Inc., 2023 Term Loan B4,
(1-mo. CME Term SOFR + 1.75%), 5.91%, 11/08/30
 
1,350
1,351,227
IRB Holding Corp., 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.75% Floor + 2.50%), 6.66%,
12/15/27
 
948
947,789
Light & Wonder International, Inc., 2024 Term Loan B2,
(1-mo. CME Term SOFR at 0.50% Floor + 2.25%),
6.39%, 04/14/29
 
656
656,227
Motion Finco SARL, 2024 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.50%,
11/12/29
 
1,040
930,235
Ontario Gaming GTA LP, Term Loan B, (3-mo. CME Term
SOFR at 0.50% Floor + 4.25%), 8.24%, 08/01/30
 
254
247,537
Penn Entertainment, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.66%,
05/03/29
 
1,145
1,143,355
Sabre GLBL, Inc.
 
2021 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.78%, 12/17/27
 
114
107,590
2021 Term Loan B2, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.78%, 12/17/27
 
37
35,222
2022 1st Lien Term Loan B, (1-mo. CME Term SOFR
+ 5.10%), 9.26%, 06/30/28
 
16
14,912
2024 Term Loan B1, (1-mo. CME Term SOFR at
0.50% Floor + 6.10%), 10.26%, 11/15/29(c)
 
297
279,424
2024 Term Loan B2, (1-mo. CME Term SOFR at
0.50% Floor + 6.10%), 10.26%, 11/15/29(c)
 
159
149,120
SeaWorld Parks & Entertainment, Inc., 2024 Term Loan
B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%),
6.16%, 12/04/31
 
238
237,092
Six Flags Entertainment Corp., 2024 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.16%, 05/01/31
 
211
209,496
Station Casinos LLC, 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.16%,
03/14/31
 
1,392
1,391,304
Turquoise Topco Ltd., Term Loan B, 08/13/32(p)
 
416
416,262
Voyager Parent LLC, Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 4.75%), 8.75%, 07/01/32
 
639
639,876
Schedule of Investments
21
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Hotels, Restaurants & Leisure (continued)
Whatabrands LLC, 2024 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.66%,
08/03/28
USD
584
$ 584,255
Wyndham Hotels & Resorts, Inc., 2024 Term Loan, (1-
mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.91%, 05/24/30
 
678
680,073
 
 
23,526,990
Household Durables — 0.8%
AI Aqua Merger Sub, Inc., 2024 1st Lien Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.28%, 07/31/28
 
1,250
1,252,456
Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.25%), 7.25%,
01/20/32
 
1,153
1,153,169
Somnigroup International, Inc., Term Loan B, (1-mo.
SOFR + 2.25%), 6.37%, 10/24/31
 
319
320,233
Springs Windows Fashions LLC
 
2024 First Lien Second Out Term Loan A2, (1-mo.
CME Term SOFR at 1.00% Floor + 4.11%), 8.28%,
10/06/28
 
297
241,726
2024 FLFO A1 Term Loan, (1-mo. CME Term SOFR at
1.00% Floor + 4.50%), 8.66%, 12/19/29
 
129
128,787
Weber-Stephen Products LLC
 
2025 Term Loan B, 09/17/32(p)
 
845
835,494
Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor
+ 3.25%), 7.53%, 10/30/27
 
491
485,158
 
 
4,417,023
Household Products — 0.1%
Lavender U.S. HoldCo 1, Inc., USD Term Loan,
09/27/32(c)(p)
 
471
471,000
Reynolds Consumer Products LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.91%, 03/04/32
 
208
207,777
 
 
678,777
Independent Power and Renewable Electricity Producers — 0.6%
Calpine Construction Finance Co. LP, 2023 Refinancing
Term Loan B, (1-mo. CME Term SOFR at 0.00% Floor
+ 2.00%), 6.16%, 07/31/30
 
931
930,829
Calpine Corp., 2024 Term Loan B10, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.91%, 01/31/31
 
410
409,871
NRG Energy, Inc., 2024 Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 6.06%, 04/16/31
 
1,854
1,853,301
 
 
3,194,001
Industrial Conglomerates — 0.0%
Stitch Acquisition Corp., 2024 2nd Out Term Loan, (3-mo.
CME Term SOFR + 7.50%), 11.76%, 12/31/29
 
58
46,977
Insurance — 4.4%
Alliant Holdings Intermediate LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.67%, 09/19/31
 
3,455
3,444,584
AmWINS Group, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.75% Floor + 2.25%), 6.25%,
01/30/32
 
1,780
1,779,370
Amynta Agency Borrower, Inc., 2025 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.91%, 12/29/31
 
1,195
1,189,931
Security
 
Par
(000)
Value
Insurance (continued)
Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.94%, 02/15/31
USD
1,245
$ 1,237,985
Asurion LLC
 
2021 2nd Lien Term Loan B3, (1-mo. CME Term
SOFR + 5.36%), 9.53%, 01/31/28
 
364
353,990
2021 Second Lien Term Loan B4, (1-mo. CME Term
SOFR + 5.36%), 9.53%, 01/20/29
 
538
513,865
2023 Term Loan B11, (1-mo. CME Term SOFR at
0.00% Floor + 4.35%), 8.51%, 08/19/28
 
778
780,217
2024 Term Loan B12, (1-mo. CME Term SOFR at
0.00% Floor + 4.25%), 8.41%, 09/19/30
 
174
173,386
2025 Term Loan B13, (1-mo. CME Term SOFR at
0.00% Floor + 4.25%), 8.41%, 09/19/30
 
1,418
1,407,557
Baldwin Insurance Group Holdings LLC, 2025 Term Loan
B2, (3-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.64%, 05/26/31
 
511
510,859
Howden Group Holdings Ltd., 2024 USD Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 3.50%),
7.66%, 04/18/30
 
95
95,420
HUB International Ltd., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 6.58%,
06/20/30
 
2,153
2,155,583
Hyperion Refinance SARL, 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.50% Floor + 2.75%),
6.91%, 02/15/31
 
1,118
1,118,029
Jones Deslauriers Insurance Management, Inc.,
2025 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.75%), 7.06%, 03/15/30
 
580
576,614
OneDigital Borrower LLC, 2025 Repriced Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.16%, 07/02/31
 
132
131,505
Ryan Specialty LLC, 2024 USD Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
09/15/31
 
1,204
1,203,361
Sedgwick Claims Management Services, Inc., 2023 Term
Loan B, (1-mo. CME Term SOFR at 0.00% Floor +
2.50%), 6.66%, 07/31/31
 
2,074
2,071,125
Truist Insurance Holdings LLC
 
2024 Term Loan B, (3-mo. CME Term SOFR at 0.00%
Floor + 2.75%), 6.75%, 05/06/31
 
2,291
2,287,064
2nd Lien Term Loan, (3-mo. CME Term SOFR at
0.00% Floor + 4.75%), 8.75%, 05/06/32
 
227
230,741
USI, Inc.
 
2024 Term Loan C, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.25%, 09/29/30
 
1,024
1,021,910
2024 Term Loan D, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.25%, 11/21/29
 
1,504
1,502,512
 
 
23,785,608
Interactive Media & Services — 0.4%
MH Sub I LLC
 
2023 Term Loan, (3-mo. CME Term SOFR at 0.50%
Floor + 4.25%), 8.25%, 05/03/28
 
356
341,628
2024 Term Loan B4, (1-mo. CME Term SOFR at
0.50% Floor + 4.25%), 8.41%, 12/31/31
 
321
294,865
Speedster Bidco GmbH, 2024 USD Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 3.25%), 7.24%,
12/10/31
 
1,275
1,276,402
 
 
1,912,895
22
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Internet Software & Services — 1.5%
Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME
Term SOFR at 0.50% Floor + 4.50%), 8.81%,
08/15/29
USD
653
$ 545,276
CNT Holdings I Corp., 2025 Term Loan, (3-mo. CME
Term SOFR at 0.75% Floor + 2.25%), 6.56%,
11/08/32
 
682
681,840
Gen Digital, Inc.
 
2024 Term Loan B, (1-mo. CME Term SOFR +
1.75%), 5.91%, 09/12/29
 
1,749
1,743,146
2025 Term Loan B, (1-mo. CME Term SOFR at 0.50%
Floor + 1.75%), 5.91%, 04/16/32
 
272
271,024
Go Daddy Operating Co. LLC
 
2024 Term Loan B7, (1-mo. CME Term SOFR +
1.75%), 5.91%, 05/30/31
 
1,149
1,146,702
2024 Term Loan B8, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 11/09/29
 
653
651,904
Proofpoint, Inc.
 
2024 Term Loan, (1-mo. CME Term SOFR at 0.50%
Floor + 3.00%), 7.16%, 08/31/28
 
1,695
1,699,601
2025 Fungible Term Loan, 08/31/28(p)
 
187
187,488
StubHub Holdco Sub LLC, 2024 Extended Term Loan B,
(1-mo. CME Term SOFR + 4.75%), 8.91%, 03/15/30
 
1,241
1,228,179
 
 
8,155,160
IT Services — 2.6%
Amentum Holdings, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 6.41%,
09/29/31
 
701
699,966
Avalara, Inc., 2025 Term Loan, 03/26/32(p)
 
61
60,830
Capstone Borrower, Inc., 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.75%,
06/17/30
 
722
720,352
Clover Holdings 2 LLC, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 3.75%), 7.94%, 12/09/31
 
1,978
1,977,504
Dayforce, Inc., 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 6.31%, 03/01/31(c)
 
1,315
1,315,400
Finastra USA, Inc., 2025 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 4.00%), 8.04%,
07/30/32
 
2,131
2,121,112
Fortress Intermediate 3, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.25%,
06/27/31
 
310
310,434
Magenta Security Holdings LLC
 
2024 First Out Term Loan, (3-mo. CME Term SOFR at
0.75% Floor + 7.01%), 11.32%, 07/27/28
 
202
164,833
2024 Second Out Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 7.26%), 11.57%, 07/27/28
 
209
90,343
2024 Third Out Term Loan, (3-mo. CME Term SOFR
at 0.75% Floor + 6.51%), 10.82%, 07/27/28(e)(j)
 
566
112,789
McAfee Corp., 2024 USD 1st Lien Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.00%), 7.22%,
03/01/29
 
1,020
972,397
Peraton Corp., Term Loan B, (1-mo. CME Term SOFR at
0.75% Floor + 3.85%), 8.01%, 02/01/28
 
960
808,207
Polaris Newco LLC, USD Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.26%), 8.57%,
06/02/28
 
842
810,317
Project Alpha Intermediate Holding, Inc., 2024 1st Lien
Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor
+ 3.25%), 7.25%, 10/26/30
 
474
475,255
Security
 
Par
(000)
Value
IT Services (continued)
Quartz Acquireco LLC, 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 6.25%,
06/28/30
USD
820
$ 816,191
Skopima Consilio Parent LLC, 2024 Repriced Term
Loan, (1-mo. CME Term SOFR at 0.50% Floor +
3.75%), 7.91%, 05/12/28
 
485
409,272
Tempo Acquisition LLC, 2025 Repriced Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 1.75%),
5.91%, 08/31/28
 
533
520,345
X Corp., Term Loan, (3-mo. CME Term SOFR at 0.50%
Floor + 6.65%), 10.96%, 10/26/29
 
1,562
1,531,311
 
 
13,916,858
Leisure Products — 0.2%
Bombardier Recreational Products, Inc., 2024 Term Loan
B4, 01/22/31(p)
 
304
304,192
City Football Group Ltd., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.50% Floor + 3.61%), 7.70%,
07/22/30
 
698
697,805
 
 
1,001,997
Machinery — 1.8%
Arcline FM Holdings LLC, 2025 Term Loan, (6-mo. CME
Term SOFR at 0.75% Floor + 3.50%), 7.58%,
06/24/30
 
513
512,315
Chart Industries, Inc., 2024 Term Loan B, (3-mo. CME
Term SOFR + 2.50%), 6.79%, 03/15/30
 
256
256,608
Columbus McKinnon Corp., 2024 Term Loan, (3-mo.
CME Term SOFR at 0.50% Floor + 2.50%), 6.50%,
05/14/28(c)
 
119
119,597
Generac Power Systems, Inc., 2024 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 1.75%),
6.03%, 07/03/31
 
153
154,026
GrafTech Global Enterprises, Inc., 2024 Term Loan, (1-
mo. CME Term SOFR at 2.00% Floor + 6.00%),
10.16%, 12/21/29
 
105
106,679
Husky Injection Molding Systems Ltd., 2024 Term Loan
B, (1-mo. CME Term SOFR at 0.00% Floor + 3.75%),
7.75%, 02/15/29
 
2,144
2,148,184
Indicor LLC, 2024 USD 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.75%,
11/22/29
 
414
414,053
Madison Safety & Flow LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.91%,
09/26/31
 
285
284,840
SPX Flow, Inc., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 2.75%), 6.91%, 04/05/29
 
1,494
1,499,791
TK Elevator U.S. Newco, Inc., 2025 USD Term Loan B,
(6-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.20%, 04/30/30
 
1,363
1,366,130
Vertiv Group Corp., 2025 Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 6.03%, 08/12/32
 
2,040
2,041,847
WEC U.S. Holdings, Inc., 2024 Term Loan, (1-mo. CME
Term SOFR at 0.00% Floor + 2.25%), 6.53%,
01/27/31
 
1,024
1,024,526
 
 
9,928,596
Media — 2.4%
Charter Communications Operating LLC
 
2023 Term Loan B4, (3-mo. CME Term SOFR at
0.00% Floor + 2.00%), 6.29%, 12/07/30
 
634
633,430
2024 Term Loan B5, (3-mo. CME Term SOFR at
0.00% Floor + 2.25%), 6.54%, 12/15/31
 
483
483,042
Schedule of Investments
23
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Media (continued)
Crown Finance U.S., Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 4.50%), 8.78%,
12/02/31
USD
522
$ 520,282
CSC Holdings LLC
 
2019 Term Loan B5, (Prime + 1.50%), 8.75%,
04/15/27
 
1,468
1,419,025
2022 Term Loan B6, (1-mo. CME Term SOFR at
0.00% Floor + 4.50%), 8.65%, 01/18/28
 
222
220,448
DirecTV Financing LLC, Term Loan, (3-mo. CME Term
SOFR at 0.75% Floor + 5.26%), 9.57%, 08/02/27
 
53
53,333
DK Crown Holdings, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 6.00%,
03/04/32
 
1,214
1,212,066
ECL Entertainment LLC, 2025 Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.00%), 7.16%,
08/30/30
 
377
376,293
Gray Television, Inc., 2024 Term Loan B, (1-mo. CME
Term SOFR + 5.25%), 9.53%, 06/04/29
 
4
3,498
GVC Holdings Gibraltar Ltd., 2025 Term Loan B5 (2032),
07/31/32(p)
 
188
187,623
Learfield Communications LLC, 2024 Term Loan B, (1-
mo. CME Term SOFR at 0.00% Floor + 4.50%),
8.66%, 06/30/28
 
357
359,907
Live Nation Entertainment, Inc., Term Loan B4, (1-mo.
CME Term SOFR at 0.00% Floor + 1.85%), 5.99%,
10/19/26
 
850
847,956
Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo.
CME Term SOFR at 0.00% Floor + 3.61%, 1.50%
PIK), 9.28%, 09/25/29(i)
 
2,062
1,660,531
Scientific Games Holdings LP, 2024 USD Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 3.00%),
7.29%, 04/04/29
 
393
389,267
Telenet Financing USD LLC, 2020 USD Term Loan AR,
04/30/28(p)
 
180
178,387
UFC Holdings LLC, 1st Lien Term Loan B5, (3-mo. CME
Term SOFR at 0.00% Floor + 2.00%), 6.04%,
11/21/31
 
1,909
1,911,399
Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1-
mo. CME Term SOFR + 3.36%), 7.51%, 01/31/29
 
607
606,417
WMG Acquisition Corp., 2024 Term Loan J, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.95%,
01/24/31
 
1,622
1,622,733
Ziggo Financing Partnership, USD Term Loan I, (1-mo.
CME Term SOFR at 0.00% Floor + 2.61%), 6.76%,
04/30/28
 
468
466,740
 
 
13,152,377
Metals & Mining — 0.3%
AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR +
1.75%), 5.91%, 05/13/29
 
60
59,646
Covia Holdings LLC, 2025 Repriced Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.75%), 6.95%,
02/26/32
 
218
219,272
Novelis Holdings, Inc., 2025 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 1.75%), 5.75%,
03/11/32
 
1,370
1,372,129
 
 
1,651,047
Oil, Gas & Consumable Fuels — 1.0%
Buckeye Partners LP
 
2025 Term Loan B, 09/24/32(p)
 
68
67,740
Security
 
Par
(000)
Value
Oil, Gas & Consumable Fuels (continued)
Buckeye Partners LP (continued)
 
2025 Term Loan B2, (1-mo. CME Term SOFR at
0.00% Floor + 1.75%), 5.91%, 11/22/30
USD
169
$ 169,211
Colossus Acquireco LLC, Term Loan B, (3-mo. SOFR +
1.75%), 5.87%, 07/30/32
 
888
882,308
EG America LLC, 2025 USD Repriced Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.70%,
02/07/28
 
181
182,014
Freeport LNG Investments LLLP, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.50% Floor + 3.25%),
7.58%, 12/21/28
 
1,131
1,129,970
GIP Pilot Acquisition Partners LP, 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.00%),
6.29%, 10/04/30
 
132
132,064
Hilcorp Energy I LP, Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.00%), 6.15%, 02/11/30
 
441
440,785
M6 ETX Holdings II Midco LLC, 2025 Term Loan B,
(Prime + 2.00%), 9.25%, 04/01/32
 
327
327,180
Murphy USA, Inc., Term Loan B, (1-mo. CME Term
SOFR at 0.50% Floor + 1.75%), 6.03%, 04/07/32
 
173
174,261
Oryx Midstream Services Permian Basin LLC, 2025 Term
Loan B, (1-mo. CME Term SOFR at 0.50% Floor +
2.25%), 6.42%, 10/05/28
 
1,446
1,444,778
Stakeholder Midstream LLC, Term Loan, (3-mo. CME
Term SOFR at 0.00% Floor + 4.00%), 8.04%,
01/01/31
 
352
352,558
Whitewater Matterhorn Holdings LLC, 2025 Term Loan
B, (3-mo. CME Term SOFR at 0.00% Floor + 2.25%),
6.25%, 06/16/32
 
140
139,847
 
 
5,442,716
Passenger Airlines — 0.8%
AAdvantage Loyalty IP Ltd., 2025 Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.58%,
05/28/32
 
362
363,450
Air Canada, 2024 Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.00%), 6.17%, 03/21/31
 
825
823,717
American Airlines, Inc.
 
Series AA, 2017 1st Lien Term Loan, (6-mo. CME
Term SOFR at 0.00% Floor + 1.85%), 5.98%,
01/29/27
 
414
412,794
2023 1st Lien Term Loan, (6-mo. CME Term SOFR at
0.00% Floor + 2.25%), 6.26%, 06/04/29
 
341
339,814
2024 1st Lien Term Loan B, (6-mo. CME Term SOFR
at 0.00% Floor + 2.25%), 6.50%, 02/15/28
 
650
648,912
2025 Term Loan, (3-mo. CME Term SOFR at 0.00%
Floor + 2.25%), 6.58%, 04/20/28
 
487
485,898
JetBlue Airways Corp., 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.50% Floor + 4.75%), 8.75%,
08/27/29
 
596
570,968
United Airlines, Inc., 2024 1st Lien Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.20%,
02/22/31
 
703
704,186
 
 
4,349,739
Personal Care Products — 0.2%
ACP Tara Holdings, Inc., 2025 Term Loan B,
09/17/32(c)(p)
 
140
140,000
Opal U.S. LLC, USD Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 3.25%), 7.25%, 04/28/32
 
980
981,960
 
 
1,121,960
24
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Pharmaceuticals — 1.1%
Amneal Pharmaceuticals LLC, 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 3.50%), 7.66%,
08/01/32
USD
1,175
$ 1,173,038
Elanco Animal Health, Inc., Term Loan B, (1-mo. CME
Term SOFR + 1.85%), 6.13%, 08/01/27
 
547
546,452
Endo Finance Holdings, Inc., 2024 1st Lien Term Loan,
04/23/31(p)
 
354
354,623
Gainwell Acquisition Corp., Term Loan B, (3-mo. CME
Term SOFR at 0.75% Floor + 4.10%), 8.10%,
10/01/27
 
430
422,324
Jazz Financing Lux SARL, 2024 1st Lien Term Loan B2,
(1-mo. CME Term SOFR + 2.25%), 6.41%, 05/05/28
 
1,082
1,082,872
Option Care Health, Inc., 2025 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 1.75%), 5.89%,
09/16/32
 
876
874,081
Organon & Co., 2024 USD Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 2.25%), 6.41%, 05/19/31
 
288
280,102
Perrigo Investments LLC, 2024 Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
04/20/29
 
330
329,140
PRA Health Sciences, Inc., 2024 US Term Loan B, (3-
mo. CME Term SOFR at 0.50% Floor + 2.00%),
6.00%, 07/03/28
 
63
63,180
Vizient, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 1.75%), 5.91%, 08/01/31
 
599
600,162
 
 
5,725,974
Professional Services — 0.0%
Deep Blue Operating I LLC, Term Loan, 09/17/32(p)
 
164
164,000
Real Estate Management & Development — 0.2%
CoreLogic, Inc., Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.61%), 7.78%, 06/02/28
 
1,054
1,052,456
Cushman & Wakefield U.S. Borrower LLC, 2025 Term
Loan B3, (1-mo. CME Term SOFR at 0.50% Floor +
2.75%), 6.91%, 01/31/30
 
284
284,784
 
 
1,337,240
Semiconductors & Semiconductor Equipment — 0.3%
Entegris, Inc., 2023 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 1.75%), 5.79%, 07/06/29
 
314
316,021
MKS Instruments, Inc., 2025 USD Repriced Term Loan,
(1-mo. CME Term SOFR at 0.50% Floor + 2.00%),
6.17%, 08/17/29
 
1,248
1,246,215
 
 
1,562,236
Software — 7.0%
Applied Systems, Inc., 2024 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 6.25%,
02/24/31
 
2,001
2,001,136
AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo.
CME Term SOFR at 0.50% Floor + 2.75%), 6.91%,
02/15/29
 
2,293
2,287,528
BCPE Pequod Buyer, Inc., USD Term Loan B, (1-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.16%,
11/25/31
 
678
679,148
Boxer Parent Co., Inc., 2025 USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.00%), 7.20%,
07/30/31
 
1,790
1,786,197
CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME
Term SOFR + 2.00%), 6.16%, 01/23/32
 
1,490
1,487,307
Security
 
Par
(000)
Value
Software (continued)
Central Parent LLC, 2024 Term Loan B, (3-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 7.25%,
07/06/29
USD
1,563
$ 1,348,662
Clearwater Analytics LLC, 2025 Term Loan B, (6-mo.
CME Term SOFR at 0.00% Floor + 2.25%), 6.46%,
04/21/32
 
517
517,000
Cloud Software Group, Inc.
 
2025 Term Loan B (2031), (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 7.25%, 03/21/31
 
1,479
1,484,551
2025 Term Loan B (2032), (3-mo. CME Term SOFR at
0.00% Floor + 3.25%), 7.25%, 08/13/32
 
2,536
2,543,336
Cloudera, Inc., 2021 Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 3.85%), 8.01%, 10/08/28
 
365
358,578
Cotiviti, Inc., 2024 Term Loan, (1-mo. CME Term SOFR +
2.75%), 7.03%, 05/01/31
 
1,638
1,606,972
DS Admiral Bidco LLC, 2024 Term Loan B, (1-mo. CME
Term SOFR + 4.25%), 8.41%, 06/26/31
 
347
346,179
Ellucian Holdings, Inc.
 
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR
at 0.50% Floor + 2.75%), 6.91%, 10/09/29
 
1,742
1,740,691
2024 2nd Lien Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 4.75%), 8.91%, 11/22/32
 
284
289,916
Epicor Software Corp., 2024 Term Loan F, (1-mo. CME
Term SOFR at 0.75% Floor + 2.50%), 6.66%,
05/30/31
 
1,698
1,699,284
Genesys Cloud Services, Inc., 2025 USD Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.66%, 01/30/32
 
2,830
2,809,270
Informatica LLC, 2024 Term Loan B, (1-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 6.41%, 10/27/28
 
679
679,661
Kaseya, Inc., 2025 1st Lien Term Loan B, (1-mo. CME
Term SOFR at 0.00% Floor + 3.25%), 7.41%,
03/20/32
 
1,758
1,759,181
Mitchell International, Inc.
 
2024 1st Lien Term Loan, (1-mo. CME Term SOFR at
0.50% Floor + 3.25%), 7.41%, 06/17/31
 
1,187
1,185,241
2024 2nd Lien Term Loan, (1-mo. CME Term SOFR +
5.25%), 9.41%, 06/17/32
 
191
188,517
Modena Buyer LLC, Term Loan, (3-mo. CME Term
SOFR at 0.00% Floor + 4.50%), 8.81%, 07/01/31
 
286
282,560
Planview Parent, Inc., 2024 1st Lien Term Loan, (3-mo.
CME Term SOFR at 0.00% Floor + 3.50%), 7.50%,
12/17/27
 
179
176,018
PointClickCare Technologies, Inc., 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 2.75%),
6.75%, 11/03/31
 
520
520,633
Project Boost Purchaser LLC, 2025 Refinancing Term
Loan, (3-mo. CME Term SOFR at 0.00% Floor +
2.75%), 7.07%, 07/16/31
 
1,201
1,197,436
RealPage, Inc., 1st Lien Term Loan, (3-mo. CME Term
SOFR + 3.26%), 7.26%, 04/24/28
 
925
922,062
SS&C Technologies, Inc., 2024 Term Loan B8, (1-mo.
CME Term SOFR at 0.00% Floor + 2.00%), 6.16%,
05/09/31
 
1,740
1,743,420
UKG, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR
at 0.00% Floor + 2.50%), 6.81%, 02/10/31
 
1,845
1,843,124
VS Buyer LLC, 2025 Term Loan B, (3-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 6.56%, 04/12/31
 
1,534
1,529,295
Waystar Technologies, Inc.
 
2025 Add-on Term Loan B, 10/22/29(p)
 
258
258,351
Schedule of Investments
25
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Software (continued)
Waystar Technologies, Inc. (continued)
 
2025 Term Loan B, (1-mo. CME Term SOFR at 0.00%
Floor + 2.00%), 6.16%, 10/22/29
USD
776
$ 775,519
X.AI Corp., Term Loan, (6-mo. CME Term SOFR at
0.00% Floor + 7.25%), 11.12%, 06/28/30
 
554
535,049
Zelis Payments Buyer, Inc.
 
5th Amendment Term Loan, (1-mo. CME Term SOFR
at 0.00% Floor + 3.25%), 7.41%, 11/26/31
 
1,185
1,184,452
Term Loan B, (1-mo. CME Term SOFR + 2.75%),
6.91%, 09/28/29
 
638
636,516
 
 
38,402,790
Specialty Retail — 0.2%
LS Group OpCo Acquistion LLC, 2025 Term Loan B,
(1-mo. CME Term SOFR at 0.00% Floor + 2.50%),
6.70%, 04/23/31
 
512
510,490
Restoration Hardware, Inc.
 
2022 Incremental Term Loan, (1-mo. CME Term
SOFR at 0.50% Floor + 3.35%), 7.51%, 10/20/28
 
140
137,231
Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor
+ 2.61%), 6.78%, 10/20/28
 
306
297,209
Serta Simmons Bedding LLC, 2023 New Term Loan,
(3-mo. CME Term SOFR + 7.61%), 11.62%, 06/29/28
 
198
184,754
 
 
1,129,684
Technology Hardware, Storage & Peripherals — 0.2%
Cubic Corp.
 
2025 Second Out Term Loan B, (3-mo. CME Term
SOFR at 0.75% Floor + 4.51%), 8.83%, 05/25/29
 
1,936
1,103,037
2025 Second Out Term Loan C, (3-mo. CME Term
SOFR at 0.75% Floor + 4.51%), 8.57%, 05/25/29
 
278
158,363
 
 
1,261,400
Textiles, Apparel & Luxury Goods — 0.2%
ABG Intermediate Holdings 2 LLC
 
2024 1st Lien Term Loan B, (1-mo. CME Term SOFR
at 0.00% Floor + 2.25%), 6.41%, 12/21/28
 
704
702,559
2025 Delayed Draw Term Loan, (1-mo. CME Term
SOFR at 0.00% Floor + 2.25%), 6.41%, 02/13/32
 
353
352,092
Beach Acquisition Bidco LLC, USD Term Loan B, (3-mo.
CME Term SOFR at 0.00% Floor + 3.25%), 7.31%,
09/12/32
 
179
179,747
 
 
1,234,398
Transportation Infrastructure — 0.1%
OLA Netherlands BV, Term Loan, (1-mo. CME Term
SOFR at 0.75% Floor + 6.35%), 10.51%, 12/15/26
 
613
607,902
SIRVA Worldwide, Inc., 2024 Term Loan, (3-mo. CME
Term SOFR at 2.00% Floor + 8.00%), 12.20%,
08/20/29
 
250
95,182
 
 
703,084
Wireless Telecommunication Services — 0.8%
Altice France SA, 2023 USD Term Loan B14, (3-mo.
CME Term SOFR at 0.00% Floor + 5.50%), 9.82%,
08/15/28(c)
 
1,164
1,123,513
Security
 
Par
(000)
Value
Wireless Telecommunication Services (continued)
Digicel International Finance Ltd., 2025 Term Loan B,
(3-mo. CME Term SOFR at 0.00% Floor + 5.25%),
9.49%, 08/06/32
USD
356
$ 355,555
GOGO Intermediate Holdings LLC, Term Loan B, (1-mo.
CME Term SOFR + 3.86%), 8.03%, 04/30/28
 
363
359,542
Level 3 Financing, Inc., 2025 Repriced Term Loan B4,
(1-mo. CME Term SOFR at 0.00% Floor + 3.25%),
7.42%, 03/29/32
 
1,890
1,890,000
Windstream Services, LLC, 2025 Term Loan B,
09/24/32(c)(p)
 
709
701,910
 
 
4,430,520
Total Floating Rate Loan Interests — 59.1%
(Cost: $325,400,040)
323,089,486
Foreign Agency Obligations
Bahrain — 0.1%
Bahrain Government International Bonds, 6.75%,
09/20/29(d)
 
200
209,250
Bulgaria — 0.0%
Bulgaria Government International Bonds, 5.00%,
03/05/37(d)
 
24
24,024
Chile — 0.0%
Chile Government International Bonds, 4.34%,
03/07/42(g)
 
200
177,000
Colombia — 0.1%
Colombia Government International Bonds, 8.00%,
04/20/33(g)
 
200
218,000
Dominican Republic — 0.1%
Dominican Republic International Bonds(b)
 
4.50%, 01/30/30
 
200
195,800
7.05%, 02/03/31
 
150
161,775
 
 
357,575
Ecuador — 0.0%
Ecuador Government International Bonds, 6.90%,
07/31/30(b)(l)
 
4
3,910
Egypt — 0.0%
Egypt Government International Bonds, 7.50%,
02/16/61(b)
 
200
156,600
Hungary — 0.0%
Hungary Government International Bonds, Series 10Y,
5.38%, 09/12/33(d)
EUR
39
49,631
Morocco — 0.0%
Morocco Government International Bonds, 2.38%,
12/15/27(b)
USD
200
191,344
Romania — 0.1%
Romania Government International Bonds
 
5.25%, 11/25/27(b)
 
62
62,650
2.12%, 07/16/31(d)
EUR
156
156,137
5.88%, 07/11/32(b)
 
15
18,029
26
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Romania (continued)
Romania Government International Bonds (continued)
 
6.25%, 09/10/34(b)
EUR
33
$ 39,847
6.75%, 07/11/39(b)
 
13
15,562
 
 
292,225
South Africa — 0.0%
Republic of South Africa Government International
Bonds, 5.00%, 10/12/46
USD
230
172,721
Total Foreign Agency Obligations — 0.4%
(Cost: $1,807,404)
1,852,280
 
 
 
 
Shares
 
Investment Companies
Equity Funds — 0.0%
Hearthside Equity
 
4,335
83,141
Fixed Income Funds — 0.3%
Invesco Senior Loan ETF
 
80,000
1,674,400
Total Investment Companies — 0.3%
(Cost: $1,734,389)
1,757,541
 
 
 
Par
(000)
 
Non-Agency Mortgage-Backed Securities
Collateralized Mortgage Obligations — 2.3%
Alternative Loan Trust
 
Series 2005-54CB, Class 3A4, 5.50%, 11/25/35
USD
939
498,968
Series 2006-J8, Class A5, 6.00%, 02/25/37
 
1,730
652,046
Series 2007-19, Class 1A1, 6.00%, 08/25/37
 
530
243,770
CHL Mortgage Pass-Through Trust
 
Series 2005-17, Class 1A6, 5.50%, 09/25/35
 
67
66,651
Series 2006-17, Class A2, 6.00%, 12/25/36
 
611
266,135
Series 2007-HY5, Class 3A1, 4.85%, 09/25/37(a)
 
148
137,699
COLT Mortgage Loan Trust(b)
 
Series 2022-9, Class A1, 6.79%, 12/25/67
 
183
182,967
Series 2024-7, Class A1, 5.54%, 12/26/69
 
1,312
1,322,115
Series 2024-INV4, Class A1, 5.61%, 05/25/69
 
1,142
1,152,345
Ellington Financial Mortgage Trust, Series 2021-2,
Class A1, 0.93%, 06/25/66(a)(b)
 
169
142,196
GCAT Trust(a)(b)
 
Series 2022-NQM3, Class A1, 4.35%, 04/25/67
 
1,223
1,218,762
Series 2024-INV4, Class A2, 5.50%, 12/25/54
 
886
889,838
GSR Mortgage Loan Trust, Series 2005-AR5, Class 2A3,
4.72%, 10/25/35(a)
 
290
144,268
Homes Trust, Series 2024-NQM2, Class A1, 5.72%,
10/25/69(b)
 
521
525,605
JP Morgan Mortgage Trust, Series 2022-DSC1,
Class A1, 4.75%, 01/25/63(a)(b)
 
304
300,681
OBX Trust(b)
 
Series 2022-NQM9, Class A1A, 6.45%, 09/25/62
 
67
66,733
Series 2023-NQM6, Class A1, 6.52%, 07/25/63
 
686
692,145
Series 2024-NQM17, Class A1, 5.61%, 11/25/64(a)
 
1,074
1,083,065
Sequoia Mortgage Trust, Series 2024-INV1, Class A3,
5.50%, 10/25/54(a)(b)
 
879
883,395
Security
 
Par
(000)
Value
Collateralized Mortgage Obligations (continued)
Spruce Hill Mortgage Loan Trust, Series 2022-SH1,
Class A1A, 4.10%, 07/25/57(b)
USD
488
$ 484,080
Verus Securitization Trust(b)
 
Series 2022-3, Class A1, 4.13%, 02/25/67
 
1,119
1,076,884
Series 2022-INV2, Class A1, 6.79%, 10/25/67
 
301
299,800
 
 
12,330,148
Commercial Mortgage-Backed Securities(b) — 2.2%
BFLD Commercial Mortgage Trust, Series 2024-UNIV,
Class D, (1-mo. Term SOFR + 2.69%), 6.84%,
11/15/41(a)
 
630
632,362
BHMS Commercial Mortgage Trust, Series 2025-ATLS,
Class A, (1-mo. Term SOFR + 1.85%), 6.00%,
08/15/42(a)
 
381
382,074
BLP Commercial Mortgage Trust, Series 2024-INDS,
Class D, (1-mo. Term SOFR + 2.59%), 6.74%,
03/15/41(a)
 
379
379,057
BPR Commercial Mortgage Trust, Series 2024-PARK,
Class D, 7.23%, 11/05/39(a)
 
200
206,353
BX Commercial Mortgage Trust(a)
 
Series 2021-CIP, Class A, (1-mo. Term SOFR +
1.04%), 5.19%, 12/15/38
 
880
879,095
Series 2021-XL2, Class A, (1-mo. Term SOFR +
0.80%), 4.95%, 10/15/38
 
131
130,542
Series 2024-MF, Class C, (1-mo. Term SOFR +
1.94%), 6.09%, 02/15/39
 
451
452,428
Series 2024-XL4, Class C, (1-mo. Term SOFR +
2.19%), 6.34%, 02/15/39
 
93
93,065
BX Trust(a)
 
Series 2022 VAMF, Class A, (1-mo. Term SOFR +
0.85%), 5.00%, 01/15/39
 
1,200
1,198,875
Series 2024-BIO, Class C, (1-mo. Term SOFR +
2.64%), 6.79%, 02/15/41
 
240
239,175
Series 2024-CNYN, Class C, (1-mo. Term SOFR +
1.94%), 6.09%, 04/15/41
 
615
615,907
Series 2024-PAT, Class B, (1-mo. Term SOFR +
3.04%), 7.19%, 03/15/41
 
170
170,000
Century Plaza Towers, Series 2019-CPT, Class C,
3.10%, 11/13/39(a)
 
250
220,651
CONE Trust, Series 2024-DFW1, Class D, (1-mo. Term
SOFR + 3.04%), 7.19%, 08/15/41(a)
 
660
659,416
DC Trust(a)
 
Series 2024-HLTN, Class C, 7.29%, 04/13/40
 
220
219,969
Series 2025-LXP, Class B, (1-mo. Term SOFR +
1.84%), 5.99%, 08/15/37
 
274
274,086
Series 2025-LXP, Class C, (1-mo. Term SOFR +
2.24%), 6.39%, 08/15/37
 
293
293,275
GS Mortgage Securities Corp. Trust(a)
 
(1-mo. Term SOFR + 3.45%), 7.59%, 11/25/41
 
900
899,907
Series 2025-800D, Class A, (1-mo. Term SOFR +
2.65%), 6.79%, 11/25/41
 
195
195,276
JW Commercial Mortgage Trust, Series 2024-MRCO,
Class C, (1-mo. Term SOFR + 2.39%), 6.54%,
06/15/39(a)
 
800
801,500
MCR Mortgage Trust, Series 2024-TWA, Class E,
8.73%, 06/12/39
 
790
803,304
MIC Trust, Series 2023-MIC, Class B, 9.86%,
12/05/38(a)
 
234
253,546
Schedule of Investments
27
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Commercial Mortgage-Backed Securities (continued)
SELF Commercial Mortgage Trust, Series 2024-STRG,
Class D, (1-mo. Term SOFR + 2.94%), 7.09%,
11/15/34(a)
USD
270
$ 269,409
VEGAS, Series 2024-GCS, Class D, 6.42%, 07/10/36(a)
 
650
643,001
VRTX Trust, Series 2025-HQ, Class B, 5.67%,
08/05/42(a)
 
895
903,879
Wells Fargo Commercial Mortgage Trust, Series 2024-
BPRC, Class D, 7.08%, 07/15/43
 
250
251,823
 
 
12,067,975
Total Non-Agency Mortgage-Backed Securities — 4.5%
(Cost: $25,243,742)
24,398,123
 
 
 
Benefical
Interest (000)
 
Other Interests
Capital Markets — 0.0%
Millennium Lender Claim Trust(c)(q)
USD
918
—
Industrial Conglomerates — 0.0%
Millennium Corp.(c)(q)
 
861
—
Total Other Interests — 0.0%
(Cost: $ — )
—
 
 
 
Par
(000)
 
Preferred Securities
Capital Trusts — 6.6%(a)
Banks — 3.4%
Bank of America Corp., 6.63%(g)(o)
USD
4,260
4,432,483
Barclays PLC(g)(o)
 
4.38%
 
2,455
2,355,159
8.00%
 
2,200
2,328,803
9.63%
 
805
913,886
ING Groep NV, 3.88%(g)(o)
 
1,750
1,677,734
JPMorgan Chase & Co.(g)
 
Series II, 6.73%(o)
 
4,000
4,013,044
Series U, 5.51%, 01/15/87
 
325
302,242
Krung Thai Bank PCL/Cayman Islands, 4.40%(d)(o)
 
202
200,864
Lloyds Banking Group PLC, 6.75%(g)(o)
 
450
454,747
NatWest Group PLC, 8.13%(o)
 
735
827,430
Nordea Bank Abp, 3.75%(b)(g)(o)
 
560
519,399
PNC Financial Services Group, Inc., Series W,
6.25%(g)(o)
 
619
635,157
 
 
18,660,948
Capital Markets — 0.0%
State Street Corp., 5.30%, 06/01/77
 
194
175,550
Security
 
Par
(000)
Value
Electric Utilities(g) — 1.1%
NextEra Energy Capital Holdings, Inc., 5.65%, 05/01/79
USD
3,750
$ 3,769,786
PG&E Corp., 7.38%, 03/15/55
 
2,078
2,134,834
 
 
5,904,620
Financial Services(g)(o) — 1.3%
NatWest Group PLC, 6.00%
 
1,185
1,186,372
UBS Group AG(b)
 
Series NC10, 9.25%
 
4,640
5,525,623
Series NC5, 9.25%
 
460
506,696
 
 
7,218,691
Health Care Equipment & Supplies(g) — 0.6%
CVS Health Corp.
 
6.75%, 12/10/54
 
635
655,469
7.00%, 03/10/55
 
2,605
2,734,581
 
 
3,390,050
Independent Power and Renewable Electricity Producers(b)(o) — 0.1%
NRG Energy, Inc., 10.25%(g)
 
475
517,924
Vistra Corp., 7.00%
 
209
212,191
 
 
730,115
Utilities — 0.1%
Electricite de France SA, 3.00%(d)(o)
EUR
200
230,781
 
36,310,755
 
 
 
 
Shares
 
Preferred Stocks — 0.3%(e)
Capital Markets — 0.3%
Morgan Stanley, Series F(o)
 
55,000
1,383,250
Ground Transportation — 0.0%
Sirva BGRS Holdings, Inc., 07/21/30
 
107
18,660
IT Services(c) — 0.0%
Veritas Kapital Assurance PLC
 
Series G
 
2,283
51,939
Series G-1
 
1,576
35,854
 
 
87,793
 
1,489,703
Total Preferred Securities — 6.9%
(Cost: $36,778,013)
37,800,458
 
 
 
Par
(000)
 
U.S. Government Sponsored Agency Securities
Mortgage-Backed Securities(g) — 2.8%
Freddie Mac Mortgage-Backed Securities, 4.00%,
05/01/39
USD
761
748,127
Uniform Mortgage-Backed Securities
 
3.50%, 09/01/42 - 10/01/42
 
8,078
7,648,447
28
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Mortgage-Backed Securities (continued)
Uniform Mortgage-Backed Securities (continued)
 
4.50%, 06/01/44
USD
1,473
$ 1,469,054
5.00%, 11/01/44 - 10/14/55(r)
 
5,170
5,195,115
 
 
15,060,743
Total U.S. Government Sponsored Agency Securities — 2.8%
(Cost: $14,761,335)
15,060,743
 
 
 
 
Shares
 
Warrants
Financial Services — 0.0%
Service King (Carnelian Point), (Exercisable 01/14/23,
1 Share for 1 Warrant, Expires 06/30/27, Strike Price
USD 10.00)(e)
 
1,315
—
Total Warrants — 0.0%
(Cost: $ — )
—
Total Long-Term Investments — 155.0%
(Cost: $842,291,533)
847,031,098
Short-Term Securities
Money Market Funds — 0.3%
BlackRock Liquidity Funds, T-Fund, Institutional
Shares, 4.01%(s)(t)
 
1,622,279
1,622,279
 
 
 
Par
(000)
 
U.S. Treasury Obligations — 5.2%
U.S. Treasury Notes, 4.88%, 05/31/26(g)
USD
28,500
28,689,703
Total Short-Term Securities — 5.5%
(Cost: $30,145,028)
30,311,982
Total Investments — 160.5%
(Cost: $872,436,561)
877,343,080
Liabilities in Excess of Other Assets — (60.5)%
(330,859,190
)
Net Assets — 100.0%
$  546,483,890
 
(a)
Variable rate security. Interest rate resets periodically. The rate shown is the effective
interest rate as of period end. Security description also includes the reference rate and
spread if published and available.
(b)
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933,
as amended. These securities may be resold in transactions exempt from registration to
qualified institutional investors.
(c)
Security is valued using significant unobservable inputs and is classified as Level 3 in the
fair value hierarchy.
(d)
This security may be resold to qualified foreign investors and foreign institutional buyers
under Regulation S of the Securities Act of 1933.
(e)
Non-income producing security.
(f)
Restricted security as to resale, excluding 144A securities. The Fund held restricted
securities with a current value of $187,740, representing less than 0.05% of its net assets
as of period end, and an original cost of $22,469.
(g)
All or a portion of the security has been pledged as collateral in connection with
outstanding reverse repurchase agreements.
(h)
When-issued security.
(i)
Payment-in-kind security which may pay interest/dividends in additional par/shares
and/or in cash. Rates shown are the current rate and possible payment rates.
(j)
Issuer filed for bankruptcy and/or is in default.
(k)
Convertible security.
(l)
Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-
down bond) at regular intervals until maturity. Interest rate shown reflects the rate
currently in effect.
(m)
Zero-coupon bond.
(n)
Rounds to less than 1,000.
(o)
Perpetual security with no stated maturity date.
(p)
Represents an unsettled loan commitment at period end. Certain details associated with
this purchase are not known prior to the settlement date, including coupon rate.
(q)
Other interests represent beneficial interests in liquidation trusts and other reorganization
or private entities.
(r)
Represents or includes a TBA transaction.
(s)
Affiliate of the Fund.
(t)
Annualized 7-day yield as of period end.
For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
12/31/24
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain (Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
09/30/25
Shares
Held at
09/30/25
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Liquidity Funds, T-Fund, Institutional Shares
$ 346,004
$ 1,276,275
(a)
$ —
$ —
$ —
$ 1,622,279
1,622,279
$ 109,107
$ —
 
(a)
Represents net amount purchased (sold).
Schedule of Investments
29
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Reverse Repurchase Agreements 
Counterparty
Interest
Rate
Trade
Date
Maturity
Date(a)
Face Value
Face Value
Including
Accrued Interest
Type of Non-Cash Underlying
Collateral
Remaining
Contractual Maturity
of the Agreements(a)
TD Securities (USA) LLC
4.40
%(b)
06/11/24
Open
$ 297,660
$ 318,538
Corporate Bonds
Open/Demand
Credit Agricole Corporate and Investment
Bank
4.34
(b)
12/06/24
Open
162,975
169,386
Corporate Bonds
Open/Demand
Credit Agricole Corporate and Investment
Bank
4.25
(b)
12/09/24
Open
662,500
687,804
Corporate Bonds
Open/Demand
Credit Agricole Corporate and Investment
Bank
4.27
(b)
12/09/24
Open
178,500
185,347
Corporate Bonds
Open/Demand
Credit Agricole Corporate and Investment
Bank
4.27
(b)
12/09/24
Open
342,656
355,800
Corporate Bonds
Open/Demand
Credit Agricole Corporate and Investment
Bank
4.34
(b)
12/09/24
Open
322,000
334,537
Corporate Bonds
Open/Demand
Credit Agricole Corporate and Investment
Bank
4.30
(b)
12/17/24
Open
424,436
440,369
Corporate Bonds
Open/Demand
Credit Agricole Corporate and Investment
Bank
4.34
(b)
12/17/24
Open
243,815
253,046
Corporate Bonds
Open/Demand
Credit Agricole Corporate and Investment
Bank
4.36
(b)
12/17/24
Open
623,290
646,987
Corporate Bonds
Open/Demand
Barclays Bank PLC
4.24
(b)
04/03/25
Open
892,500
912,648
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
05/06/25
Open
394,313
401,786
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.20
(b)
05/19/25
Open
223,215
226,940
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.30
(b)
05/19/25
Open
354,469
360,517
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.30
(b)
05/19/25
Open
685,882
697,585
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.30
(b)
05/19/25
Open
211,331
214,937
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.30
(b)
05/19/25
Open
198,300
201,683
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.30
(b)
05/19/25
Open
333,856
339,553
Capital Trusts
Open/Demand
TD Securities (USA) LLC
4.50
(b)
05/23/25
Open
359,159
365,040
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.30
(b)
06/05/25
Open
103,598
105,143
Corporate Bonds
Open/Demand
HSBC Bank PLC
4.40
(b)
06/16/25
Open
756,551
767,007
Corporate Bonds
Open/Demand
HSBC Bank PLC
4.40
(b)
06/16/25
Open
784,350
794,724
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
06/30/25
Open
564,785
571,584
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.07
(b)
07/01/25
Open
87,010
87,971
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.10
(b)
07/01/25
Open
1,186,905
1,200,099
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.15
(b)
07/01/25
Open
1,396,752
1,412,458
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.17
(b)
07/01/25
Open
202,991
205,284
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.17
(b)
07/01/25
Open
123,471
124,866
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.18
(b)
07/01/25
Open
220,656
223,154
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.22
(b)
07/01/25
Open
132,300
133,811
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.22
(b)
07/01/25
Open
362,381
366,521
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.22
(b)
07/01/25
Open
113,050
114,341
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
378,784
383,121
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
97,240
98,353
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
755,055
763,700
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
253,048
255,945
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
93,804
94,878
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
287,820
291,115
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
1,333,630
1,348,899
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
131,198
132,700
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/01/25
Open
271,102
274,206
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.25
(b)
07/01/25
Open
199,971
202,194
Foreign Agency Obligations
Open/Demand
Nomura Securities International, Inc.
4.25
(b)
07/01/25
Open
162,572
164,442
Foreign Agency Obligations
Open/Demand
Nomura Securities International, Inc.
4.32
(b)
07/01/25
Open
190,328
192,550
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.32
(b)
07/01/25
Open
1,409,857
1,426,323
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.37
(b)
07/01/25
Open
107,068
108,332
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
326,711
330,594
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
370,975
375,383
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
769,620
778,766
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
718,065
726,598
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
218,364
220,959
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
906,342
917,113
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
603,341
610,511
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
206,447
208,900
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
320,050
323,853
Corporate Bonds
Open/Demand
30
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Reverse Repurchase Agreements (continued)
Counterparty
Interest
Rate
Trade
Date
Maturity
Date(a)
Face Value
Face Value
Including
Accrued Interest
Type of Non-Cash Underlying
Collateral
Remaining
Contractual Maturity
of the Agreements(a)
Nomura Securities International, Inc.
4.40
%(b)
07/01/25
Open
$ 747,786
$ 756,672
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
39,510
39,980
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
507,566
513,598
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
305,786
309,420
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
171,840
173,882
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
801,950
811,480
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
313,700
317,428
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
3,480,000
3,521,354
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
139,732
141,392
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
348,985
353,132
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
773,272
782,462
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
07/01/25
Open
265,399
268,553
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.42
(b)
07/01/25
Open
195,110
197,439
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.42
(b)
07/01/25
Open
225,900
228,596
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
07/01/25
Open
334,763
338,706
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.30
(b)
07/10/25
Open
28,820,625
29,115,518
U.S. Treasury Obligations
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
07/10/25
Open
1,454,782
1,470,245
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.24
(b)
07/14/25
Open
175,519
177,248
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.24
(b)
07/14/25
Open
702,187
709,106
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.25
(b)
07/14/25
Open
957,500
966,955
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.25
(b)
07/14/25
Open
430,500
434,751
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.25
(b)
07/14/25
Open
1,155,000
1,166,406
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.26
(b)
07/14/25
Open
266,000
268,633
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.26
(b)
07/14/25
Open
343,125
346,521
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.30
(b)
07/14/25
Open
477,202
481,967
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.30
(b)
07/14/25
Open
294,938
297,882
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.30
(b)
07/14/25
Open
364,808
368,450
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.30
(b)
07/14/25
Open
260,618
263,220
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.35
(b)
07/14/25
Open
179,438
181,249
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.35
(b)
07/14/25
Open
293,738
296,703
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.35
(b)
07/14/25
Open
371,535
375,285
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.38
(b)
07/14/25
Open
493,756
498,773
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.39
(b)
07/14/25
Open
744,199
751,776
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.39
(b)
07/14/25
Open
1,135,800
1,147,365
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
313,465
316,664
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
201,258
203,312
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
109,656
110,775
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
256,773
259,393
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
368,010
371,765
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
384,178
388,098
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
482,220
487,141
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
644,580
651,157
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
700,290
707,436
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
293,590
296,586
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
469,700
474,493
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
1,751,306
1,769,177
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
284,760
287,666
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
316,969
320,203
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
563,296
569,044
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
1,326,640
1,340,177
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
1,963,987
1,984,028
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
550,435
556,052
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
215,934
218,137
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
910,331
919,620
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
970,961
980,869
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
350,156
353,729
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
198,753
200,781
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
1,345,741
1,359,473
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
236,961
239,379
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
121,270
122,507
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
712,208
719,475
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
1,522,937
1,538,478
Capital Trusts
Open/Demand
Schedule of Investments
31
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Reverse Repurchase Agreements (continued)
Counterparty
Interest
Rate
Trade
Date
Maturity
Date(a)
Face Value
Face Value
Including
Accrued Interest
Type of Non-Cash Underlying
Collateral
Remaining
Contractual Maturity
of the Agreements(a)
TD Securities (USA) LLC
4.40
%(b)
07/14/25
Open
$ 496,162
$ 501,225
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
266,159
268,875
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
4,341,601
4,385,904
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
316,220
319,447
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
654,720
661,401
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
397,593
401,650
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
306,791
309,922
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
147,420
148,924
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
474,386
479,227
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
411,300
415,497
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
137,445
138,847
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
379,494
383,366
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
302,773
305,862
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
389,253
393,224
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
1,267,971
1,280,909
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
47,073
47,553
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
182,286
184,146
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
1,310,985
1,324,362
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
381,175
385,065
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
195,113
197,103
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
256,328
258,943
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/14/25
Open
232,645
235,019
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
375,868
379,711
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
480,231
485,142
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
394,685
398,721
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
201,056
203,112
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
247,510
250,041
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
197,736
199,758
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
282,926
285,819
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
555,019
560,694
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
186,200
188,104
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
505,249
510,415
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
259,538
262,192
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
3,286,985
3,320,598
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
354,344
357,967
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
321,725
325,015
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
557,720
563,423
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
182,408
184,273
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
367,225
370,980
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
315,060
318,282
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
268,886
271,636
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
109,335
110,453
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
224,208
226,500
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
370,116
373,901
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
152,030
153,585
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
237,440
239,868
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
332,350
335,749
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
112,391
113,541
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/14/25
Open
243,508
245,998
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
07/14/25
Open
909,242
918,441
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
07/14/25
Open
841,252
849,763
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/15/25
Open
1,110,240
1,121,426
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/18/25
Open
122,230
123,414
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
07/18/25
Open
690,046
696,673
Corporate Bonds
Open/Demand
BNP Paribas SA
4.14
(b)
07/21/25
Open
648,450
654,143
Corporate Bonds
Open/Demand
BNP Paribas SA
4.19
(b)
07/21/25
Open
3,760,000
3,793,389
Capital Trusts
Open/Demand
BNP Paribas SA
4.24
(b)
07/21/25
Open
121,063
122,150
Corporate Bonds
Open/Demand
BNP Paribas SA
4.25
(b)
07/21/25
Open
1,297,687
1,309,367
Corporate Bonds
Open/Demand
BNP Paribas SA
4.25
(b)
07/21/25
Open
437,250
441,185
Corporate Bonds
Open/Demand
BNP Paribas SA
4.28
(b)
07/21/25
Open
474,375
478,673
Capital Trusts
Open/Demand
BNP Paribas SA
4.31
(b)
07/21/25
Open
509,269
513,913
Corporate Bonds
Open/Demand
BNP Paribas SA
4.32
(b)
07/21/25
Open
4,126,875
4,164,595
Capital Trusts
Open/Demand
32
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Reverse Repurchase Agreements (continued)
Counterparty
Interest
Rate
Trade
Date
Maturity
Date(a)
Face Value
Face Value
Including
Accrued Interest
Type of Non-Cash Underlying
Collateral
Remaining
Contractual Maturity
of the Agreements(a)
BNP Paribas SA
4.35
%(b)
07/21/25
Open
$ 3,205,000
$ 3,233,781
Corporate Bonds
Open/Demand
BNP Paribas SA
4.37
(b)
07/21/25
Open
1,862,080
1,879,286
Capital Trusts
Open/Demand
BNP Paribas SA
4.38
(b)
07/21/25
Open
812,212
819,734
Corporate Bonds
Open/Demand
BNP Paribas SA
4.38
(b)
07/21/25
Open
1,617,019
1,631,992
Corporate Bonds
Open/Demand
BNP Paribas SA
4.40
(b)
07/21/25
Open
1,623,000
1,638,094
Capital Trusts
Open/Demand
BNP Paribas Securities Corp.
4.15
(b)
07/21/25
Open
247,180
249,355
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.15
(b)
07/21/25
Open
982,350
990,995
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.20
(b)
07/21/25
Open
462,590
466,707
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.21
(b)
07/21/25
Open
230,145
232,198
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.22
(b)
07/21/25
Open
625,975
631,571
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
154,000
155,383
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
1,045,791
1,055,182
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
936,424
944,833
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
115,094
116,127
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
224,910
226,930
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
484,440
488,790
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
461,092
465,233
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
100,595
101,498
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/21/25
Open
746,000
752,699
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.25
(b)
07/21/25
Open
789,312
796,416
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.29
(b)
07/21/25
Open
167,200
168,718
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.35
(b)
07/21/25
Open
350,509
353,733
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.35
(b)
07/21/25
Open
634,432
640,130
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.35
(b)
07/21/25
Open
792,321
799,611
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.35
(b)
07/21/25
Open
500,225
504,677
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.35
(b)
07/21/25
Open
62,563
63,124
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
07/21/25
Open
1,435,764
1,449,059
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
07/21/25
Open
618,445
624,172
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
07/21/25
Open
777,225
784,422
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
07/21/25
Open
1,100,416
1,110,606
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.39
(b)
07/21/25
Open
217,789
219,810
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
593,667
599,188
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
657,792
663,909
Capital Trusts
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
215,865
217,873
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
791,798
799,162
Capital Trusts
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
95,798
96,688
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
184,092
185,804
Capital Trusts
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
173,250
174,861
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
243,840
246,108
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
2,419,312
2,441,812
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.40
(b)
07/21/25
Open
209,050
210,994
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
07/22/25
Open
309,825
312,562
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/23/25
Open
447,942
451,853
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/23/25
Open
371,850
375,096
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/23/25
Open
273,458
275,845
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.35
(b)
07/23/25
Open
172,226
173,767
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/23/25
Open
644,725
650,554
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
07/23/25
Open
748,572
755,283
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
07/23/25
Open
714,139
720,540
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/24/25
Open
133,354
134,545
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
07/24/25
Open
232,623
234,700
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
07/25/25
Open
221,921
223,803
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.30
(b)
07/25/25
Open
249,935
252,083
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.30
(b)
07/31/25
Open
323,820
326,357
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
07/31/25
Open
164,318
165,633
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
08/05/25
Open
1,767,952
1,780,913
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.24
(b)
08/05/25
Open
494,810
498,328
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.25
(b)
08/05/25
Open
408,356
411,266
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.25
(b)
08/05/25
Open
2,528,500
2,546,516
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.25
(b)
08/05/25
Open
841,500
847,496
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.25
(b)
08/05/25
Open
285,594
287,629
Capital Trusts
Open/Demand
RBC Capital Markets, LLC
4.25
(b)
08/05/25
Open
106,133
106,889
Corporate Bonds
Open/Demand
Schedule of Investments
33
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Reverse Repurchase Agreements (continued)
Counterparty
Interest
Rate
Trade
Date
Maturity
Date(a)
Face Value
Face Value
Including
Accrued Interest
Type of Non-Cash Underlying
Collateral
Remaining
Contractual Maturity
of the Agreements(a)
RBC Capital Markets, LLC
4.25
%(b)
08/05/25
Open
$ 2,613,000
$ 2,631,618
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.25
(b)
08/05/25
Open
282,125
284,135
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.28
(b)
08/05/25
Open
360,524
363,110
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.28
(b)
08/05/25
Open
319,500
321,792
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.28
(b)
08/05/25
Open
610,187
614,564
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.28
(b)
08/05/25
Open
220,313
221,893
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.38
(b)
08/05/25
Open
332,995
335,436
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
160,862
162,046
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
400,000
402,945
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
263,145
265,082
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
406,857
409,853
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
87,290
87,933
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
204,688
206,195
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
761,880
767,489
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
206,243
207,761
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
08/05/25
Open
401,528
404,484
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.35
(b)
08/05/25
Open
862,861
869,146
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.10
(b)
08/07/25
Open
408,597
411,313
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
08/07/25
Open
482,924
486,355
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
08/08/25
Open
852,720
858,642
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
08/08/25
Open
808,498
814,113
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/08/25
Open
914,232
920,554
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/08/25
Open
788,070
793,519
Corporate Bonds
Open/Demand
Goldman Sachs & Co. LLC
4.30
(b)
08/11/25
Open
329,175
331,297
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/11/25
Open
719,152
723,849
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/12/25
Open
582,902
586,634
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/12/25
Open
647,100
651,243
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/12/25
Open
725,440
730,085
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
08/13/25
Open
934,895
940,608
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.39
(b)
08/13/25
Open
260,360
262,004
Corporate Bonds
Open/Demand
Morgan Stanley & Co. LLC
3.75
(b)
08/13/25
Open
594,641
597,879
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
08/13/25
Open
1,220,274
1,227,997
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
08/13/25
Open
752,500
757,263
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
08/14/25
Open
565,818
569,326
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
08/14/25
Open
575,140
578,706
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
08/14/25
Open
539,112
542,455
Corporate Bonds
Open/Demand
Morgan Stanley & Co. LLC
0.50
(b)
08/19/25
Open
137,696
137,820
Corporate Bonds
Open/Demand
Morgan Stanley & Co. LLC
0.75
(b)
08/19/25
Open
138,465
138,630
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
08/19/25
Open
75,100
75,517
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/20/25
Open
778,680
782,868
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
08/22/25
Open
1,406,090
1,413,355
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/22/25
Open
439,580
441,832
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/22/25
Open
479,460
481,916
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/22/25
Open
503,962
506,544
Corporate Bonds
Open/Demand
Morgan Stanley & Co. LLC
(0.25
)(b)
08/26/25
Open
94,250
94,250
Corporate Bonds
Open/Demand
Morgan Stanley & Co. LLC
3.50
(b)
08/26/25
Open
410,550
412,090
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/28/25
Open
1,258,456
1,263,935
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
08/28/25
Open
564,557
567,015
Corporate Bonds
Open/Demand
HSBC Securities (USA), Inc.
4.25
(b)
09/03/25
Open
875,000
878,062
Corporate Bonds
Open/Demand
HSBC Securities (USA), Inc.
4.25
(b)
09/03/25
Open
950,000
953,325
Corporate Bonds
Open/Demand
HSBC Securities (USA), Inc.
4.25
(b)
09/03/25
Open
525,000
526,837
Corporate Bonds
Open/Demand
Morgan Stanley & Co. LLC
3.25
(b)
09/04/25
Open
300,000
300,787
Corporate Bonds
Open/Demand
Morgan Stanley & Co. LLC
3.75
(b)
09/09/25
Open
326,417
327,215
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.25
(b)
09/09/25
Open
120,938
121,270
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/10/25
Open
567,720
569,260
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.23
(b)
09/11/25
Open
130,853
131,178
Corporate Bonds
Open/Demand
Wells Fargo Securities, LLC
4.32
09/12/25
10/14/25
1,395,280
1,397,958
U.S. Government Sponsored
Agency Securities
Up to 30 Days
Wells Fargo Securities, LLC
4.32
09/12/25
10/14/25
1,945,255
1,948,990
U.S. Government Sponsored
Agency Securities
Up to 30 Days
Wells Fargo Securities, LLC
4.32
09/12/25
10/14/25
428,545
429,368
U.S. Government Sponsored
Agency Securities
Up to 30 Days
34
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Reverse Repurchase Agreements (continued)
Counterparty
Interest
Rate
Trade
Date
Maturity
Date(a)
Face Value
Face Value
Including
Accrued Interest
Type of Non-Cash Underlying
Collateral
Remaining
Contractual Maturity
of the Agreements(a)
Wells Fargo Securities, LLC
4.32
% 
09/12/25
10/14/25
$ 699,776
$ 701,119
U.S. Government Sponsored
Agency Securities
Up to 30 Days
Wells Fargo Securities, LLC
4.32
09/12/25
10/14/25
2,638,897
2,643,964
U.S. Government Sponsored
Agency Securities
Up to 30 Days
Wells Fargo Securities, LLC
4.32
09/12/25
10/14/25
5,259,667
5,269,766
U.S. Government Sponsored
Agency Securities
Up to 30 Days
BNP Paribas SA
4.19
(b)
09/12/25
Open
1,919,635
1,924,133
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.24
(b)
09/12/25
Open
361,806
362,664
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/12/25
Open
580,469
581,881
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/12/25
Open
624,607
626,127
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.22
(b)
09/15/25
Open
308,940
309,554
Corporate Bonds
Open/Demand
BNP Paribas SA
4.21
(b)
09/16/25
Open
257,213
257,690
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.42
(b)
09/16/25
Open
62,156
62,277
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.18
(b)
09/17/25
Open
372,650
373,246
Corporate Bonds
Open/Demand
J.P. Morgan Securities LLC
4.05
09/19/25
10/02/25
498,437
499,110
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.15
09/19/25
10/02/25
256,821
257,177
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
552,475
553,258
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
180,734
180,990
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
331,166
331,635
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
175,143
175,391
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
181,300
181,557
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
280,676
281,074
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
1,814,312
1,816,883
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
1,162,760
1,164,407
Corporate Bonds
Up to 30 Days
J.P. Morgan Securities LLC
4.25
09/19/25
10/02/25
236,844
237,179
Corporate Bonds
Up to 30 Days
Barclays Bank PLC
4.25
09/19/25
10/31/25
840,375
841,566
Corporate Bonds
Up to 30 Days
Barclays Bank PLC
4.25
09/19/25
10/31/25
454,500
455,144
Corporate Bonds
Up to 30 Days
Barclays Bank PLC
4.30
09/19/25
10/31/25
468,171
468,842
Capital Trusts
Up to 30 Days
Barclays Bank PLC
4.30
09/19/25
10/31/25
2,887,500
2,891,639
Capital Trusts
Up to 30 Days
Barclays Bank PLC
4.35
09/19/25
10/31/25
2,344,499
2,347,899
Corporate Bonds
Up to 30 Days
Barclays Bank PLC
4.40
09/19/25
10/31/25
4,358,400
4,364,792
Capital Trusts
Up to 30 Days
Barclays Bank PLC
4.40
09/19/25
10/31/25
392,400
392,975
Capital Trusts
Up to 30 Days
Barclays Bank PLC
4.40
09/19/25
10/31/25
2,328,219
2,331,633
Capital Trusts
Up to 30 Days
Barclays Bank PLC
4.40
09/19/25
10/31/25
1,839,030
1,841,727
Capital Trusts
Up to 30 Days
Barclays Capital, Inc.
3.95
09/19/25
10/31/25
329,857
330,291
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.20
09/19/25
10/31/25
112,009
112,166
Capital Trusts
Up to 30 Days
Barclays Capital, Inc.
4.20
09/19/25
10/31/25
651,391
652,303
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.24
09/19/25
10/31/25
475,800
476,472
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.24
09/19/25
10/31/25
888,030
889,285
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.24
09/19/25
10/31/25
588,552
589,384
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.24
09/19/25
10/31/25
537,170
537,929
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.24
09/19/25
10/31/25
493,500
494,197
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.24
09/19/25
10/31/25
483,750
484,434
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.30
09/19/25
10/31/25
337,669
338,153
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.30
09/19/25
10/31/25
249,533
249,890
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.30
09/19/25
10/31/25
296,840
297,265
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
116,840
117,012
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
1,209,697
1,211,472
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
443,638
444,288
Capital Trusts
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
1,057,162
1,058,713
Capital Trusts
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
1,078,834
1,080,416
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
1,215,185
1,216,968
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
334,784
335,275
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
414,710
415,318
Capital Trusts
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
603,200
604,085
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
325,958
326,436
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
1,262,369
1,264,220
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
806,540
807,723
Corporate Bonds
Up to 30 Days
Barclays Capital, Inc.
4.40
09/19/25
10/31/25
853,140
854,391
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
2.35
09/19/25
10/31/25
516,750
517,155
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
3.70
09/19/25
10/31/25
77,441
77,537
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
3.90
09/19/25
10/31/25
872,780
873,915
Corporate Bonds
Up to 30 Days
Schedule of Investments
35
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Reverse Repurchase Agreements (continued)
Counterparty
Interest
Rate
Trade
Date
Maturity
Date(a)
Face Value
Face Value
Including
Accrued Interest
Type of Non-Cash Underlying
Collateral
Remaining
Contractual Maturity
of the Agreements(a)
BofA Securities, Inc.
3.95
% 
09/19/25
10/31/25
$ 99,888
$ 100,019
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.00
09/19/25
10/31/25
225,750
226,051
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.10
09/19/25
10/31/25
518,340
519,048
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.10
09/19/25
10/31/25
254,100
254,447
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
215,250
215,548
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
203,820
204,102
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
507,625
508,327
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
535,690
536,431
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
96,203
96,336
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
347,331
347,812
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
453,777
454,405
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
80,445
80,556
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.15
09/19/25
10/31/25
460,687
461,325
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
575,460
576,266
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
353,293
353,787
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
211,665
211,961
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
215,625
215,927
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
741,825
742,864
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
2,604,000
2,607,646
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
458,250
458,892
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
1,157,287
1,158,908
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
166,414
166,647
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.20
09/19/25
10/31/25
1,799,687
1,802,207
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.25
09/19/25
10/31/25
470,044
470,710
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.25
09/19/25
10/31/25
90,411
90,539
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.25
09/19/25
10/31/25
996,250
997,661
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.25
09/19/25
10/31/25
320,813
321,267
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.25
09/19/25
10/31/25
180,880
181,136
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.25
09/19/25
10/31/25
492,000
492,697
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.30
09/19/25
10/31/25
597,187
598,043
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.30
09/19/25
10/31/25
1,053,107
1,054,616
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
92,198
92,331
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
2,242,570
2,245,822
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
376,275
376,821
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
328,100
328,576
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
294,481
294,908
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
488,762
489,471
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
541,082
541,867
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
269,114
269,505
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
412,824
413,423
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
52,290
52,366
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
74,970
75,079
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
1,155,328
1,157,003
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
471,817
472,502
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
555,670
556,476
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
184,150
184,417
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
902,000
903,308
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
166,208
166,448
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
322,620
323,088
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
636,864
637,787
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
1,924,702
1,927,493
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
301,350
301,787
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.35
09/19/25
10/31/25
217,500
217,815
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.37
09/19/25
10/31/25
448,001
448,654
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.37
09/19/25
10/31/25
302,978
303,419
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.37
09/19/25
10/31/25
298,410
298,845
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.39
09/19/25
10/31/25
54,657
54,737
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.39
09/19/25
10/31/25
780,822
781,964
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.39
09/19/25
10/31/25
314,930
315,391
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.39
09/19/25
10/31/25
350,895
351,408
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.39
09/19/25
10/31/25
969,979
971,398
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.39
09/19/25
10/31/25
401,700
402,288
Corporate Bonds
Up to 30 Days
36
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Reverse Repurchase Agreements (continued)
Counterparty
Interest
Rate
Trade
Date
Maturity
Date(a)
Face Value
Face Value
Including
Accrued Interest
Type of Non-Cash Underlying
Collateral
Remaining
Contractual Maturity
of the Agreements(a)
BofA Securities, Inc.
4.40
% 
09/19/25
10/31/25
$ 1,208,365
$ 1,210,137
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.40
09/19/25
10/31/25
459,712
460,387
Corporate Bonds
Up to 30 Days
Merrill Lynch International
4.25
09/19/25
10/31/25
689,358
690,335
Corporate Bonds
Up to 30 Days
BNP Paribas Securities Corp.
4.38
(b)
09/19/25
Open
489,379
490,093
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/19/25
Open
502,705
503,442
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/19/25
Open
1,311,175
1,313,081
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/19/25
Open
506,850
507,587
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
09/22/25
Open
615,897
616,571
Corporate Bonds
Open/Demand
BNP Paribas Securities Corp.
4.38
(b)
09/22/25
Open
485,450
485,982
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/22/25
Open
1,980,762
1,982,922
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/22/25
Open
424,370
424,832
Corporate Bonds
Open/Demand
Morgan Stanley & Co. LLC
3.75
(b)
09/23/25
Open
96,094
96,164
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/23/25
Open
386,902
387,280
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/24/25
Open
603,250
603,761
Capital Trusts
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/24/25
Open
1,772,500
1,774,003
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.25
(b)
09/25/25
Open
521,336
521,706
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/25/25
Open
1,004,950
1,005,687
Corporate Bonds
Open/Demand
BNP Paribas SA
4.38
(b)
09/26/25
Open
1,287,211
1,287,994
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.20
(b)
09/26/25
Open
318,308
318,493
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.35
(b)
09/26/25
Open
640,395
640,782
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/26/25
Open
1,905,750
1,906,915
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/26/25
Open
477,731
478,023
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/26/25
Open
935,923
936,495
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/26/25
Open
1,481,695
1,482,592
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.30
(b)
09/29/25
Open
153,900
153,937
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/29/25
Open
440,629
440,736
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/29/25
Open
330,525
330,606
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/29/25
Open
301,305
301,379
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/29/25
Open
2,436,112
2,436,708
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
09/29/25
Open
67,405
67,422
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/29/25
Open
1,125,372
1,125,645
Corporate Bonds
Open/Demand
BofA Securities, Inc.
4.10
09/30/25
10/31/25
229,520
229,520
Corporate Bonds
Up to 30 Days
BofA Securities, Inc.
4.40
09/30/25
10/31/25
480,975
480,975
Corporate Bonds
Up to 30 Days
BNP Paribas SA
4.38
(b)
09/30/25
Open
421,499
421,499
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
09/30/25
Open
365,411
365,411
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
09/30/25
Open
1,591,850
1,591,850
Corporate Bonds
Open/Demand
Nomura Securities International, Inc.
4.40
(b)
09/30/25
Open
381,669
381,669
Corporate Bonds
Open/Demand
RBC Capital Markets, LLC
4.40
(b)
09/30/25
Open
51,920
52,661
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.38
(b)
09/30/25
Open
305,044
305,044
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/30/25
Open
256,648
256,647
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/30/25
Open
551,707
551,707
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/30/25
Open
697,250
697,250
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.40
(b)
09/30/25
Open
379,237
379,237
Corporate Bonds
Open/Demand
TD Securities (USA) LLC
4.41
(b)
09/30/25
Open
603,724
603,724
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/30/25
Open
327,990
327,990
Corporate Bonds
Open/Demand
U.S. Bancorp Investments, Inc.
4.36
(b)
09/30/25
Open
1,080,767
1,080,767
Corporate Bonds
Open/Demand
 
 
 
$ 319,121,706
$ 321,272,231
 
 
 
(a)
Certain agreements have no stated maturity and can be terminated by either party at any time.
(b)
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand.
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts 
Description
Number of
Contracts
Expiration
Date
Notional
Amount (000)
Value/
Unrealized
Appreciation
(Depreciation)
Long Contracts 
10-Year U.S. Ultra Long Treasury Note
71
12/19/25
$ 8,171
$ 71,111
Schedule of Investments
37
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Futures Contracts (continued)
Description
Number of
Contracts
Expiration
Date
Notional
Amount (000)
Value/
Unrealized
Appreciation
(Depreciation)
Long Contracts (continued)
2-Year U.S. Treasury Note
644
12/31/25
$ 134,188
$ (41,866
)
5-Year U.S. Treasury Note
206
12/31/25
22,489
(5,399
)
 
23,846
Short Contracts 
10-Year U.S. Treasury Note
314
12/19/25
35,325
(219,621
)
U.S. Long Bond
80
12/19/25
9,330
(204,382
)
Ultra U.S. Treasury Bond
19
12/19/25
2,284
(71,003
)
 
(495,006
)
 
$ (471,160
)
Forward Foreign Currency Exchange Contracts 
Currency Purchased
Currency Sold
Counterparty
Settlement Date
Unrealized
Appreciation
(Depreciation)
USD
48,549
EUR
41,279
Citibank N.A.
10/16/25
$ 44
USD
15,894
EUR
13,483
HSBC Bank PLC
10/16/25
51
USD
205,541
EUR
174,781
Toronto-Dominion Bank
10/16/25
164
USD
154,555
EUR
131,000
Barclays Bank PLC
12/17/25
80
USD
13,223,875
EUR
11,183,000
Morgan Stanley & Co. International PLC
12/17/25
36,895
USD
232,367
EUR
197,000
State Street Bank and Trust Co.
12/17/25
65
USD
358,967
EUR
304,000
State Street Bank and Trust Co.
12/17/25
491
USD
1,152,980
GBP
847,000
UBS AG
12/17/25
13,734
 
 
 
 
 
 
51,524
USD
99,573
EUR
85,000
JPMorgan Chase Bank N.A.
12/17/25
(660
)
USD
241,220
EUR
205,000
State Street Bank and Trust Co.
12/17/25
(515
)
USD
148,089
GBP
111,000
State Street Bank and Trust Co.
12/17/25
(1,210
)
 
 
 
 
 
 
(2,385
)
 
$ 49,139
Centrally Cleared Credit Default Swaps — Buy Protection 
Reference Obligation/Index
Financing
Rate Paid
by the Fund
Payment
Frequency
Termination
Date
Notional
Amount (000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
CDX.NA.HY.45.V1
5.00
% 
Quarterly
12/20/30
USD
5,875
$ (461,791
)
$ (449,757
)
$ (12,034
)
CDX.NA.IG.45.V1
1.00
Quarterly
12/20/30
USD
14,100
(324,574
)
(322,927
)
(1,647
)
 
 
$ (786,365
)
$ (772,684
)
$ (13,681
)
OTC Credit Default Swaps — Sell Protection 
Reference Obligation/Index
Financing
Rate Received
by the Fund
Payment
Frequency
Counterparty
Termination
Date
Credit
Rating(a)
Notional
Amount (000)(b)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
Virgin Media Finance PLC
5.00
% 
Quarterly
JPMorgan Chase Bank N.A.
12/20/25
B-
EUR
10
$ 124
$ 184
$ (60
)
CMA CGM SA
5.00
Quarterly
Morgan Stanley & Co.
International PLC
06/20/27
BB+
EUR
30
2,514
2,669
(155
)
Adler Real Estate AG
5.00
Quarterly
Bank of America N.A.
12/20/27
CCC
EUR
7
476
(688
)
1,164
Adler Real Estate AG
5.00
Quarterly
Barclays Bank PLC
12/20/27
CCC
EUR
4
286
(392
)
678
Adler Real Estate AG
5.00
Quarterly
Barclays Bank PLC
12/20/27
CCC
EUR
12
803
(1,103
)
1,906
Adler Real Estate AG
5.00
Quarterly
Citibank N.A.
12/20/27
CCC
EUR
4
233
(328
)
561
Adler Real Estate AG
5.00
Quarterly
JPMorgan Chase Bank N.A.
12/20/27
CCC
EUR
8
488
(722
)
1,210
38
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
OTC Credit Default Swaps — Sell Protection (continued)
Reference Obligation/Index
Financing
Rate Received
by the Fund
Payment
Frequency
Counterparty
Termination
Date
Credit
Rating(a)
Notional
Amount (000)(b)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
Adler Real Estate AG
5.00
% 
Quarterly
Morgan Stanley & Co.
International PLC
12/20/27
CCC
EUR
5
$ 354
$ (507
)
$ 861
Faurecia SE
5.00
Quarterly
Barclays Bank PLC
06/20/29
BB-
EUR
20
2,533
2,012
521
iTraxx.XO.42.V3 20-35%
5.00
Quarterly
BNP Paribas SA
12/20/29
B
EUR
33
5,415
4,228
1,187
Zegona Finance PLC
5.00
Quarterly
Deutsche Bank AG
06/20/30
BB
EUR
7
1,280
934
346
 
 
 
 
 
 
$ 14,506
$ 6,287
$ 8,219
 
(a)
Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.
(b)
The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.
OTC Total Return Swaps 
Paid by the Fund
Received by the Fund
 
 
 
 
 
 
 
 
Rate
Frequency
Reference
Frequency
Counterparty
Effective
Date
Termination
Date
Notional
Amount (000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
1-day SOFR, 4.24%
Quarterly
Markit iBoxx USD
Liquid Leveraged
Loan Index
At Termination
Morgan Stanley & Co.
International PLC
N/A
12/20/25
USD
2,000
$ 47,795
$ (21,953
)
$ 69,748
1-day SOFR, 4.24%
Quarterly
Markit iBoxx USD
Liquid Leveraged
Loan Index
At Termination
Morgan Stanley & Co.
International PLC
N/A
03/20/26
USD
1,000
23,562
(10,976
)
34,538
1-day SOFR, 4.24%
Quarterly
Markit iBoxx USD
Liquid Leveraged
Loan Index
At Termination
Morgan Stanley & Co.
International PLC
N/A
06/20/26
USD
8,000
(544
)
(86,490
)
85,946
 
 
 
 
 
 
 
$ 70,813
$ (119,419
)
$ 190,232
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: 
• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;
• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 – Inputs that are unobservable and significant to the  entire fair value measurement for the asset or liability (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy.  In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy.  The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above. 
 
Level 1
Level 2
Level 3
Total
Assets
Investments 
Long-Term Investments 
Asset-Backed Securities
$ —
$ 36,957,316
$ 949,424
$ 37,906,740
Schedule of Investments
39
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Fair Value Hierarchy as of Period End (continued)
 
Level 1
Level 2
Level 3
Total
Common Stocks 
Capital Markets
$ —
$ —
$ 12,627
$ 12,627
Construction & Engineering
7,602
—
—
7,602
Entertainment
—
—
187,740
187,740
Financial Services
—
—
426,306
426,306
Ground Transportation
—
386
—
386
Household Products
—
—
—
—
Industrial Conglomerates
—
18,572
—
18,572
IT Services
—
—
271,641
271,641
Real Estate Management & Development
—
—
—
—
Trading Companies & Distributors
—
—
110,685
110,685
Transportation Infrastructure
—
—
59,233
59,233
Corporate Bonds 
Advertising Agencies
—
5,928,081
—
5,928,081
Aerospace & Defense
—
13,802,082
—
13,802,082
Air Freight & Logistics
—
363,187
—
363,187
Automobile Components
—
4,960,738
—
4,960,738
Automobiles
—
7,374,794
—
7,374,794
Banks
—
645,534
—
645,534
Beverages
—
694,191
—
694,191
Building Materials
—
8,710,535
—
8,710,535
Building Products
—
3,067,081
—
3,067,081
Capital Markets
—
5,248,827
—
5,248,827
Chemicals
—
11,000,582
—
11,000,582
Commercial Services & Supplies
—
20,727,174
—
20,727,174
Communications Equipment
—
884,361
—
884,361
Construction & Engineering
—
2,753,585
—
2,753,585
Consumer Discretionary
—
2,935,225
—
2,935,225
Consumer Finance
2,687
10,152,192
—
10,154,879
Consumer Staples Distribution & Retail
—
2,703,787
—
2,703,787
Containers & Packaging
—
11,849,292
769,920
12,619,212
Distributors
—
542,611
—
542,611
Diversified REITs
—
4,468,175
—
4,468,175
Diversified Telecommunication Services
—
23,361,463
—
23,361,463
Electric Utilities
—
7,994,186
—
7,994,186
Electronic Equipment, Instruments & Components
—
1,900,371
—
1,900,371
Energy Equipment & Services
—
4,621,001
—
4,621,001
Entertainment
—
785,657
—
785,657
Environmental, Maintenance & Security Service
—
4,305,267
—
4,305,267
Financial Services
—
19,179,757
—
19,179,757
Food Products
—
6,224,872
—
6,224,872
Ground Transportation
—
2,247,410
—
2,247,410
Health Care Equipment & Supplies
—
2,532,336
—
2,532,336
Health Care Providers & Services
—
15,002,660
—
15,002,660
Health Care REITs
—
3,361,897
—
3,361,897
Hotel & Resort REITs
—
3,837,821
—
3,837,821
Hotels, Restaurants & Leisure
—
20,529,698
—
20,529,698
Household Durables
—
3,707,794
—
3,707,794
Household Products
—
—
—
—
Independent Power and Renewable Electricity Producers
—
6,670,612
—
6,670,612
Industrial Conglomerates
—
520,114
—
520,114
Insurance
—
23,821,227
—
23,821,227
Interactive Media & Services
—
992,561
—
992,561
Internet Software & Services
—
3,124,552
—
3,124,552
IT Services
—
4,409,334
—
4,409,334
Machinery
—
5,265,845
—
5,265,845
Media
—
19,733,512
—
19,733,512
Metals & Mining
—
10,122,017
—
10,122,017
Mortgage Real Estate Investment Trusts (REITs)
—
1,125,413
—
1,125,413
Multi-Utilities
—
128,766
—
128,766
Oil, Gas & Consumable Fuels
—
39,888,514
—
39,888,514
Passenger Airlines
—
1,146,010
—
1,146,010
Personal Care Products
—
667,832
—
667,832
Pharmaceuticals
—
8,769,857
—
8,769,857
40
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
Fair Value Hierarchy as of Period End (continued)
 
Level 1
Level 2
Level 3
Total
Corporate Bonds (continued)
Real Estate Management & Development
$ —
$ 1,585,018
$ —
$ 1,585,018
Retail REITs
—
321,164
—
321,164
Semiconductors & Semiconductor Equipment
—
5,411,516
—
5,411,516
Software
—
20,087,342
—
20,087,342
Specialty Retail
—
682,929
—
682,929
Technology Hardware, Storage & Peripherals
—
1,318,321
—
1,318,321
Textiles, Apparel & Luxury Goods
—
1,657,948
—
1,657,948
Tobacco
—
565,841
—
565,841
Transportation Infrastructure
—
256,966
49,793
306,759
Water Utilities
—
898,177
—
898,177
Wireless Telecommunication Services
—
3,921,000
—
3,921,000
Fixed Rate Loan Interests
—
1,751,923
—
1,751,923
Floating Rate Loan Interests
—
314,410,709
8,678,777
323,089,486
Foreign Agency Obligations
—
1,852,280
—
1,852,280
Investment Companies 
Equity Funds
—
83,141
—
83,141
Fixed Income Funds
1,674,400
—
—
1,674,400
Non-Agency Mortgage-Backed Securities
—
24,398,123
—
24,398,123
Other Interests
—
—
—
—
Preferred Securities
Capital Trusts
—
36,310,755
—
36,310,755
Preferred Stocks 
Capital Markets
1,383,250
—
—
1,383,250
Ground Transportation
—
18,660
—
18,660
IT Services
—
—
87,793
87,793
U.S. Government Sponsored Agency Securities
—
15,060,743
—
15,060,743
Warrants
—
—
—
—
Short-Term Securities 
Money Market Funds
1,622,279
—
—
1,622,279
U.S. Treasury Obligations
—
28,689,703
—
28,689,703
Unfunded Floating Rate Loan Interests(a)
—
1,239
—
1,239
Liabilities
Unfunded Floating Rate Loan Interests(a)
—
(121
)
—
(121
)
 
$4,690,218
$861,050,041
$11,603,939
$877,344,198
Derivative Financial Instruments(b)
Assets 
Credit Contracts
$ —
$ 8,434
$ —
$ 8,434
Foreign Currency Exchange Contracts
—
51,524
—
51,524
Interest Rate Contracts
71,111
190,232
—
261,343
Liabilities 
Credit Contracts
—
(13,896
)
—
(13,896
)
Foreign Currency Exchange Contracts
—
(2,385
)
—
(2,385
)
Interest Rate Contracts
(542,271
)
—
—
(542,271
)
 
$(471,160
)
$233,909
$—
$(237,251
)
 
(a)
Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.
(b)
Derivative financial instruments are swaps, futures contracts and forward foreign currency exchange contracts. Swaps, futures contracts and forward foreign currency exchange
contracts are valued at the unrealized appreciation (depreciation) on the instrument.
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount or face value, including accrued interest, for financial reporting purposes. As of period end, reverse repurchase agreements of $321,272,231 are categorized as Level 2 within the fair value hierarchy.
Schedule of Investments
41
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Limited Duration Income Trust (BLW)
 
A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value: 
 
Asset-Backed
Securities
Common
Stocks
Corporate
Bonds
Fixed
Rate Loan
Interests
Floating
Rate Loan
Interests
Other
Interests
Preferred
Stocks
Assets
Opening balance, as of December 31, 2024
$ 917,574
$ 605,755
$ 1,235,747
$ 1,606,112
$ 13,579,446
$ —
(a)
$ 77,041
Transfers into Level 3
—
—
541,800
12,727
1,806,152
—
—
Transfers out of Level 3
—
—
(1,084,835
)
(67,300
)
(8,164,874
)
—
—
Other(b)
—
—
—
(1,023,000
)
1,023,000
—
—
Accrued discounts/premiums
(8,788
)
—
33,096
407
20,339
—
—
Net realized gain (loss)
—
104,759
(35
)
3,679
13,127
—
(119
)
Net change in unrealized appreciation (depreciation)(c)
40,638
(501,556
)
(12,879
)
(9,686
)
115,170
—
10,871
Purchases
—
1,139,299
274,199
2,059
5,740,789
—
—
Sales
—
(280,025
)
(167,380
)
(524,998
)
(5,454,372
)
—
—
Closing balance, as of September 30, 2025
$ 949,424
$ 1,068,232
$ 819,713
$ —
$ 8,678,777
$ —
(a)
$ 87,793
Net change in unrealized appreciation (depreciation) on investments still held at
September 30, 2025(c)
$ 40,638
$ (501,556
)
$ (28,781
)
$ (14,787
)
$ 153,759
$ —
$ 10,871
 
 
Total
Assets
Opening balance, as of December 31, 2024
$ 18,021,675
Transfers into Level 3
2,360,679
Transfers out of Level 3
(9,317,009
)
Other(b)
—
Accrued discounts/premiums
45,054
Net realized gain (loss)
121,411
Net change in unrealized appreciation (depreciation)(c)
(357,442
)
Purchases
7,156,346
Sales
(6,426,775
)
Closing balance, as of September 30, 2025
$ 11,603,939
Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2025(c)
$ (339,856
)
 
(a)
Rounds to less than $1.
(b)
Certain Level 3 investments were re-classified between Fixed Rate Loan Interests and Floating Rate Loan Interests.
(c)
Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2025 is
generally due to investments no longer held or categorized as Level 3 at period end.
The Fund’s financial instruments that are categorized as Level 3 were valued utilizing third-party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third-party information could result in a significantly lower or higher value of such Level 3 financial instruments.
 
Currency Abbreviation 
EUR
Euro
GBP
British Pound
USD
United States Dollar
 
Portfolio Abbreviation 
CLO
 Collateralized Loan Obligation
CME
 Chicago Mercantile Exchange
CMT
 Constant Maturity Treasury
DAC
 Designated Activity Company
ETF
 Exchange-Traded Fund
EURIBOR
 Euro Interbank Offered Rate
GO
 General Obligation Bonds
Portfolio Abbreviation (continued)
PIK
 Payment-in-Kind
REIT
 Real Estate Investment Trust
SOFR
 Secured Overnight Financing Rate
42