NPORT-EX 1 NPORT_5751605685487994.htm EX-FRA

Schedule of Investments  (unaudited)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security       
Shares		     Value  

Common Stocks — 0.3%

 

Chemicals — 0.0%  

GEO Specialty Chemicals, Inc.(a)(b)

       1,108,709     $ 277,177  
   

 

 

  
Diversified Financial Services — 0.1%  

Kcad Holdings I Ltd.(a)(b)

       309,827,230       427,562  
   

 

 

  
Health Care Management Services — 0.0%  

New Millennium HoldCo, Inc.(b)

       14,906       224  
   

 

 

  
Media — 0.1%  

Clear Channel Outdoor Holdings, Inc., Class A(b)

       114,650       582,422  

iHeartMedia, Inc., Class A(b)

       5,727       94,495  
   

 

 

  
        676,917  
Metals & Mining — 0.0%  

Preferred Proppants LLC(a)

       12,198       27,446  
   

 

 

  
Semiconductors & Semiconductor Equipment — 0.0%  

SunPower Corp.(b)

       1,860       13,876  
   

 

 

  
Software — 0.0%  

Avaya Holdings Corp.(b)

       62       780  
   

 

 

  
Utilities — 0.1%  

Texgen LLC(a)

       8,431       333,024  
   

 

 

  

Total Common Stocks — 0.3%
(Cost — $5,019,504)

 

     1,757,006  
   

 

 

  
            Par
(000)		         

Corporate Bonds — 2.8%

 

Aerospace & Defense — 0.1%  

TransDigm, Inc., 6.25%, 03/15/26(c)

     USD       562       573,943  
   

 

 

  
Auto Components — 0.0%  

Panther BF Aggregator 2 LP/Panther Finance Co., Inc., 6.25%, 05/15/26(c)

       218       222,360  
   

 

 

  
Banks — 0.0%  

CIT Group, Inc., 5.00%, 08/01/23

       135       140,400  
   

 

 

  
Capital Markets — 0.3%  

Blackstone CQP Holdco LP(c):

      

6.00%, 08/18/21

       249       247,755  

6.50%, 03/20/21

       1,536       1,541,192  
   

 

 

  
        1,788,947  
Chemicals — 0.6%  

Chemours Co., 6.63%, 05/15/23

       800       797,000  
Security          Par
(000)		     Value  

Chemicals (continued)

 

GEO Specialty Chemicals, Inc., 15.24%, 10/18/25(a)

     USD       2,037     $   2,122,889  
   

 

 

  
        2,919,889  
Diversified Consumer Services — 0.0%  

Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25%, 05/15/23(c)

       170       178,074  
   

 

 

  
Electric Utilities — 0.0%  

Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc.,
11.50%, 10/01/20(a)

       1,061       —  
   

 

 

  
Health Care Services — 0.0%  

Aveta, Inc. Escrow, 7.00%, 04/01/19(a)(b)(c)

       1,347       —  
   

 

 

  
Industrial Conglomerates — 0.2%  

Project Spring, (Aquired 05/09/19,
cost $845,135), 10.00%, 06/30/24(a)(e)(c)

       871       894,953  
   

 

 

  
Machinery — 0.0%  

Colfax Corp., 6.00%, 02/15/24(c)

       203       209,766  
   

 

 

  
Media — 0.4%  

Clear Channel Worldwide Holdings, Inc., Series B, 6.50%, 11/15/22

       968       987,360  

CSC Holdings LLC, 10.88%, 10/15/25(c)

       79       89,669  

iHeartWCommunications, Inc.(b)(d):

      

6.38%, 05/01/26

       276       286,413  

8.38%, 05/01/27

       500       522,874  
   

 

 

  
        1,886,316  
Metals & Mining — 0.3%  

Freeport-McMoRan, Inc.:

      

3.55%, 03/01/22

       1,070       1,047,262  

3.88%, 03/15/23

       625       601,563  
   

 

 

  
        1,648,825  
Oil, Gas & Consumable Fuels — 0.5%  

CNX Resources Corp., 5.88%, 04/15/22

       1,468       1,407,636  

CONSOL Energy, Inc., 11.00%, 11/15/25(c)

       985       1,067,494  
   

 

 

  
        2,475,130  
Pharmaceuticals — 0.0%  

Bausch Health Cos., Inc., 5.75%, 08/15/27(c)

       91       91,853  
   

 

 

  
Software — 0.4%  

Infor US, Inc., 6.50%, 05/15/22

       1,176       1,189,583  
 

 

 

     1  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Software (continued)  

Informatica LLC, 7.13%, 07/15/23(c)

     USD       658     $ 664,580  
   

 

 

  
        1,854,163  
   

 

 

  

Total Corporate Bonds — 2.8%
(Cost — $15,672,693)

 

     14,884,619  
   

 

 

  

Floating Rate Loan Interests(f) — 137.4%

 

Aerospace & Defense — 2.5%  

1199169 B.C. Unlimited Liability Co., 2019 Term Loan B2, (3 mo. LIBOR + 4.00%), 6.60%, 04/06/26

       1,836       1,838,540  

Atlantic Aviation FBO, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 6.19%, 12/06/25(a)

       1,169       1,177,839  

Dynasty Acquisition Co., Inc., 2019 Term Loan B1, (3 mo. LIBOR + 4.00%), 6.60%, 04/06/26

       3,414       3,419,726  

Nordam Group, Inc., Term Loan B, (LIBOR + 5.50%), 8.00%, 04/03/26(a)

       792       788,041  

TransDigm, Inc., 2018 Term Loan F, (1 mo. LIBOR + 2.50%), 4.94%, 06/09/23

       5,740       5,636,226  

WP CPP Holdings LLC, 2018 Term Loan, (3 mo. LIBOR + 3.75%, 1.00% Floor), 6.34%, 04/30/25

       400       399,657  
   

 

 

  
        13,260,029  
Air Freight & Logistics — 0.3%  

Avolon TLB Borrower 1 (US) LLC, Term Loan B3, (1 mo. LIBOR + 1.75%), 4.19%, 01/15/25

       1,757       1,750,898  
   

 

 

  
Airlines — 0.6%  

Allegiant Travel Co., Term Loan B, (3 mo. LIBOR + 4.50%), 7.07%, 02/05/24(a)

       1,493       1,483,926  

American Airlines, Inc.:

      

2017 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 4.45%, 10/12/21

       1,230       1,224,577  

Repriced TL B due 2023, (1 mo. LIBOR + 2.00%), 4.43%, 04/28/23

       644       633,199  
   

 

 

  
        3,341,702  
Auto Components — 1.4%  

Adient US LLC, Term Loan B, (3 mo. LIBOR + 4.25%), 6.82%, 05/06/24

       594       584,050  

Panther BF Aggregator 2 LP, Term Loan B, (1 mo. LIBOR + 3.50%), 5.93%, 04/30/26

       2,748       2,725,686  
Security   Par
(000)		     Value  
Auto Components (continued)  

USI, Inc., 2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 5.60%, 05/16/24

     USD       2,955     $ 2,869,470  

Wand NewCo 3, Inc., 2019 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.97%, 02/05/26

       1,423       1,424,779  
   

 

 

  
        7,603,985  
Banks — 0.4%  

Capri Finance LLC, 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.25%), 5.83%, 11/01/24

       2,050       2,009,439  
   

 

 

  
Building Materials — 0.4%  

Allied Universal HoldCo LLC, 2015 Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 6.19%, 07/28/22

       1,652       1,604,107  

USAGM HoldCo LLC, 2015 2nd Lien Term Loan, (1 mo. LIBOR + 8.50%, 1.00% Floor), 10.94%, 07/28/23

       456       444,538  
   

 

 

  
        2,048,645  
Building Products — 1.0%  

CPG International, Inc., 2017 Term Loan, (6 mo. LIBOR + 3.75%, 1.00% Floor), 6.63%, 05/05/24(a)

       1,423       1,405,538  

Jeld-Wen, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.00%), 4.60%, 12/14/24

       1,202       1,193,509  

Wilsonart LLC, 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.86%, 12/19/23

       2,686       2,626,493  
   

 

 

  
        5,225,540  
Capital Markets — 2.7%  

Duff & Phelps Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 02/13/25

       2,086       2,025,368  

EIG Management Co. LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 6.18%, 02/22/25

       1,686       1,680,681  

Fortress Investment Group LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 12/27/22

       1,217       1,214,591  

Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 5.70%, 04/12/24(a)

       1,174       1,162,260  

Jefferies Finance LLC, 2019 Term Loan, 05/21/26(g)

       1,360       1,357,022  

RPI Finance Trust, Term Loan B6, (1 mo. LIBOR + 2.00%), 4.44%, 03/27/23

       2,383       2,380,404  
 

 

 

2   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Capital Markets (continued)  

Travelport Finance (Luxembourg) Sarl(g):

      

2019 2nd Lien Term Loan, 03/31/27(a)

     USD       1,145     $ 1,110,650  

2019 Term Loan, 03/13/26

       3,439       3,282,801  
   

 

 

  
        14,213,777  
Chemicals — 6.2%  

Alpha 3 BV, 2017 Term Loan B1, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.60%, 01/31/24

       4,570       4,501,188  

Axalta Coating Systems US Holdings, Inc., Term Loan, (3 mo. LIBOR + 1.75%), 4.35%, 06/01/24

       3,542       3,469,860  

Charter NEX US Holdings, Inc.:

      

2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 05/16/24

       2,707       2,650,012  

Incremental Term Loan, (1 mo. LIBOR + 3.50%), 5.94%, 05/16/24

       1,074       1,070,241  

Chemours Co., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 4.19%, 04/03/25

       1,439       1,399,615  

Element Materials Technology Group US Holdings, Inc., 2017 Term Loan B, (6 mo. LIBOR + 3.50%, 1.00% Floor), 6.15%, 06/28/24

       612       609,764  

Encapsys LLC, 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 11/07/24

       1,013       1,009,113  

Hexion Inc, DIP Term Loan, (3 mo. LIBOR + 2.75%), 5.35%, 10/01/20

       700       697,956  

Invictus US LLC:

      

1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 5.44%, 03/28/25

       1,632       1,578,657  

2nd Lien Term Loan, (3 mo. LIBOR + 6.75%), 9.27%, 03/25/26(a)

       430       425,700  

Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 5.10%, 03/01/26

       4,371       4,283,580  

Momentive Performance Materials, Inc., Term Loan B, (1 Week LIBOR + 3.25%), 5.65%, 04/16/24

       1,065       1,060,346  

Oxea Holding Drei GmbH, 2017 Term Loan B2, (3 mo. LIBOR + 3.50%), 6.13%, 10/14/24

       3,636       3,627,092  

Plaskolite LLC, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%, 1.00% Floor), 6.69%, 12/12/25

       1,027       1,014,587  

PQ Corp., 2018 Term Loan B, (3 mo. LIBOR + 2.50%), 5.08%, 02/08/25

       2,719       2,704,445  
Security   Par
(000)		     Value  
Chemicals (continued)  

Starfruit Finco BV, 2018 USD Term Loan B, (1 mo. LIBOR + 3.25%), 5.72%, 10/01/25

     USD       1,233     $ 1,221,952  

Tata Chemicals North America, Inc., Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 5.38%, 08/07/20

       422       421,463  

Vectra Co., 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 5.69%, 03/08/25

       939       897,809  
   

 

 

  
        32,643,380  
Commercial Services & Supplies — 7.6%  

Advanced Disposal Services, Inc., Term Loan B3, (1 Week LIBOR + 2.25%), 4.64%, 11/10/23

       3,132       3,124,056  

Aramark Services, Inc., 2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 4.19%, 03/11/25

       274       272,172  

Asurion LLC:

      

2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 8.94%, 08/04/25

       2,292       2,327,343  

2017 Term Loan B4, (1 mo. LIBOR + 3.00%), 5.44%, 08/04/22

       1,742       1,734,683  

2018 Term Loan B6, (1 mo. LIBOR + 3.00%), 5.44%, 11/03/23

       2,975       2,962,198  

2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 5.44%, 11/03/24

       1,171       1,165,083  

BrightView Landscapes LLC, 2018 1st Lien Term Loan B, (1 mo. LIBOR + 2.50%), 5.00%, 08/15/25

       1,870       1,864,828  

Camelot UK Holdco Ltd., 2017 Repriced Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.68%, 10/03/23

       3,091       3,086,302  

Catalent Pharma Solutions, Inc., Term Loan B, (1 mo. LIBOR + 2.25%, 1.00% Floor), 4.69%, 05/20/24

       1,170       1,167,221  

Creative Artists Agency LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 5.43%, 02/15/24

       3,220       3,204,455  

EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 6.35%, 05/09/25

       580       546,292  

GFL Environmental, Inc., 2018 USD Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 05/30/25

       3,416       3,340,958  

Harland Clarke Holdings Corp., Term Loan B7, (3 mo. LIBOR + 4.75%, 1.00% Floor), 7.35%, 11/03/23

       670       557,411  

KAR Auction Services, Inc., Term Loan B5, (3 mo. LIBOR + 2.50%), 5.13%, 03/09/23

       2,507       2,498,638  
 

 

 

     3  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

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

Prime Security Services Borrower LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 05/02/22

     USD       2,681     $ 2,652,440  

Verisure Holding AB, EUR Term Loan B1E, (EURIBOR + 3.00%), 3.00%, 10/20/22

     EUR       1,000       1,109,240  

Verscend Holding Corp., 2018 Term Loan B, (1 mo. LIBOR + 4.50%), 6.94%, 08/27/25

     USD       5,364       5,358,380  

West Corp., 2017 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 6.52%, 10/10/24

       3,262       3,035,357  
   

 

 

  
        40,007,057  
Communications Equipment — 0.8%  

Avantor, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 6.19%, 11/21/24

       1,702       1,701,204  

Avaya, Inc., 2018 Term Loan B, (1 mo. LIBOR + 4.25%), 6.69%, 12/15/24(d)

       1,450       1,418,437  

Ciena Corp., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 09/26/25

       1,326       1,323,831  
   

 

 

  
        4,443,472  
Construction & Engineering — 1.4%  

AECOM, Term Loan B, (1 mo. LIBOR + 1.75%), 4.19%, 03/13/25

       721       716,973  

Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 6.84%, 06/21/24

       3,186       3,087,794  

Pike Corp., 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 03/23/25

       774       775,075  

Ply Gem Midco, Inc., 2018 Term Loan, (3 mo. LIBOR + 3.75%), 6.35%, 04/12/25

       453       445,738  

SRS Distribution, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 5.69%, 05/23/25

       1,384       1,329,861  

USIC Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 12/08/23

       910       896,151  
   

 

 

  
        7,251,592  
Construction Materials — 2.1%  

Core & Main LP, 2017 Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.63%, 08/01/24

       4,027       4,015,503  
Security   Par
(000)		     Value  
Construction Materials (continued)  

Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 5.44%, 03/29/25

     USD       4,881     $ 4,863,422  

Foundation Building Materials LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 5.44%, 08/13/25(a)

       810       799,873  

Tamko Building Products, Inc, Term Loan B, 04/23/26(a)(g)

       578       575,110  

Xella International GmbH, 2017 EUR Term Loan B, (EURIBOR + 3.75%), 3.75%, 04/11/24

     EUR       1,000       1,111,844  
   

 

 

  
        11,365,752  
Containers & Packaging — 2.5%  

Berry Global, Inc.:

      

Term Loan Q, (1 mo. LIBOR + 2.00%), 4.45%, 10/01/22

     USD       4,782       4,742,661  

USD Term Loan U, 05/15/26(g)

       2,640       2,625,163  

BWAY Holding Co., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 5.85%, 04/03/24

       2,722       2,648,065  

Flex Acquisition Co., Inc.:

      

1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.63%, 12/29/23

       2,309       2,213,003  

2018 Incremental Term Loan, (3 mo. LIBOR + 3.25%), 5.88%, 06/29/25

       1,092       1,048,243  
   

 

 

  
        13,277,135  
Distributors — 1.2%  

American Builders & Contractors Supply Co., Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 10/31/23

       4,075       4,006,426  

TriMark USA LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.94%, 08/28/24

       2,782       2,322,719  
   

 

 

  
        6,329,145  
Diversified Consumer Services — 4.2%  

Ascend Learning LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 07/12/24

       1,357       1,342,854  

Bright Horizons Family Solutions, Inc., 2017 Term Loan B, (LIBOR + 1.75%), 4.19%, 11/07/23

       2,896       2,886,730  

Equian LLC, Add on Term Loan B, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 05/20/24

       1,853       1,837,048  
 

 

 

4   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

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

Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.19%, 07/12/25

     USD       1,395     $ 1,386,271  

J.D. Power and Associates, 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 6.19%, 09/07/23

       1,386       1,375,294  

Nomad Foods Europe Midco Ltd., 2017 Term Loan B4, (1 mo. LIBOR + 2.25%), 4.69%, 05/15/24

       1,154       1,141,255  

Serta Simmons Bedding LLC:

      

1st Lien Term Loan, (1 mo. LIBOR + 3.50%,1.00% Floor) 5.94%, 11/08/23

       950       664,192  

2nd Lien Term Loan, (1 mo. LIBOR + 8.00%, 1.00% Floor) 10.44%, 11/08/24

       126       61,600  

ServiceMaster Co., 2016 Term Loan B, (1 mo. LIBOR + 2.50%), 4.94%, 11/08/23

       256       255,797  

ServPro Borrower LLC, Term Loan B, (1 mo. LIBOR + 3.50%), 5.94%, 03/26/26

       429       427,928  

Spin Holdco, Inc., 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.85%, 11/14/22

       3,947       3,867,109  

TruGreen Limited Partnership, 2019 Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 6.19%, 03/19/26(a)

       2,259       2,261,425  

Uber Technologies, Inc.:

      

2018 Incremental Term Loan, (1 mo. LIBOR + 3.50%), 5.93%, 07/13/23

       2,424       2,413,813  

2018 Term Loan, (1 mo. LIBOR + 4.00%, 1.00% Floor), 6.45%, 04/04/25

       1,290       1,286,753  

Weight Watchers International, Inc., 2017 Term Loan B, (3 mo. LIBOR + 4.75%), 7.35%, 11/29/24

       1,177       1,153,218  
   

 

 

  
        22,361,287  
Diversified Financial Services — 2.2%  

AlixPartners LLP, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 04/04/24

       4,291       4,254,585  

CRCI Longhorn Holdings, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.95%, 08/08/25(a)

       729       714,748  

EG Finco Ltd., 2018 Term Loan, (3 mo. LIBOR + 4.00%), 6.60%, 02/07/25

       2,015       1,976,118  

Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 07/03/24

       1,930       1,926,044  
Security   Par
(000)		     Value  
Diversified Financial Services (continued)  

LTI Holdings, Inc., 2018 Add On 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.94%, 09/06/25

     USD       839     $ 797,290  

SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (2 mo. LIBOR + 4.25%), 6.83%, 07/30/25

       1,120       1,108,666  

Tank Holding Corp., 2019 Term Loan B, (3 mo. LIBOR + 4.00%), 6.44%, 03/26/26

       1,017       1,018,780  
   

 

 

  
        11,796,231  
Diversified Telecommunication Services — 3.9%  

CenturyLink, Inc.:

      

2017 Term Loan A, (1 mo. LIBOR + 2.75%), 5.19%, 11/01/22

       599       596,187  

2017 Term Loan B, (1 mo. LIBOR + 2.75%), 5.19%, 01/31/25

       2,843       2,762,357  

Consolidated Communications, Inc., 2016 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 10/04/23

       412       402,379  

Hargray Communications Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 05/16/24

       1,697       1,680,513  

Level 3 Financing, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 4.69%, 02/22/24

       2,862       2,814,035  

MTN Infrastructure TopCo, Inc, 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 11/15/24

       2,231       2,212,102  

Sprint Communications, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 2.50%), 5.00%, 02/02/24

       1,630       1,592,319  

TDC A/S, Term Loan, (EURIBOR + 2.75%), 2.75%, 06/04/25

     EUR       819       914,992  

Telenet Financing USD LLC, Term Loan AN, (1 mo. LIBOR + 2.25%), 4.69%, 08/15/26

     USD       2,982       2,940,777  

Telesat Canada, Term Loan B4, (3 mo. LIBOR + 2.50%), 5.11%, 11/17/23(a)

       810       799,816  

Virgin Media Investment Holdings Ltd., Term Loan L, (LIBOR — GBP + 3.25%), 3.98%, 01/15/27

     GBP       1,000       1,249,559  

Zayo Group LLC:

      

2017 Incremental Term Loan, (1 mo. LIBOR + 2.25%, 1.00% Floor), 4.69%, 01/19/24

     USD       290       289,710  
 

 

 

     5  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

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

2017 Term Loan B1, (1 mo. LIBOR + 2.00%), 4.44%, 01/19/21

   USD  2,353     $ 2,352,009  
   

 

 

  
      20,606,755  
Electric Utilities — 0.9%  

Dayton Power & Light Co., Term Loan B, (1 mo. LIBOR + 2.00%), 4.43%, 08/24/22

     512       510,853  

TEX Operations Co. LLC, Exit Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 08/04/23

     2,015       2,008,180  

Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc., Term Loan, 11/10/19(a)(c)(d)(g)

     1,710       —  

Vistra Energy Corp., 1st Lien Term Loan B3, (1 mo. LIBOR + 2.00%), 4.44%, 12/31/25

       1,964       1,956,775  

Vistra Operations Co. LLC, 2016 Term Loan B2, (1 mo. LIBOR + 2.25%), 4.69%, 12/14/23

     364       363,478  
   

 

 

  
      4,839,286  
Electrical Equipment — 1.0%  

Gates Global LLC, 2017 Repriced Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 04/01/24

     4,610       4,572,845  

Sirius Computer Solutions, Inc., 2019 Term Loan B, 05/20/26(g)

     742       741,073  
   

 

 

  
      5,313,918  
Energy Equipment & Services — 0.7%  

Gavilan Resources LLC, 2nd Lien Term Loan, (1 mo. LIBOR + 6.00%, 1.00% Floor), 8.43%, 03/01/24(a)

     985       650,276  

GrafTech Finance, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 02/12/25(a)

     1,923       1,906,559  

Pioneer Energy Services Corp., Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 10.18%, 11/08/22(a)

     845       849,225  
Security   Par
(000)		     Value  
Energy Equipment & Services (continued)  

Weatherford International Ltd., Term Loan, (1 mo. LIBOR + 1.43%), 3.86%, 07/13/20

   USD  548     $ 544,609  
   

 

 

  
      3,950,669  
Entertainment — 0.3%  

PCI Gaming Authority, Term Loan, 05/29/26(g)

     1,647       1,646,078  
   

 

 

  
Equity Real Estate Investment Trusts (REITs) — 2.5%  

Capital Automotive LP, 2017 1st Lien Term Loan, (1 mo. LIBOR + 2.50%, 1.00% Floor), 4.94%, 03/24/24

     757       747,681  

Iron Mountain, Inc., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 4.19%, 01/02/26

     1,916       1,849,674  

MGM Growth Properties Operating Partnership LP, 2016 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 03/21/25

     4,032       3,999,055  

RHP Hotel Properties LP, 2017 Term Loan B, (3 mo. LIBOR + 2.00%), 4.61%, 05/11/24

     1,343       1,336,303  

VICI Properties 1 LLC, Replacement Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 12/20/24

       5,381       5,335,151  
   

 

 

  
      13,267,864  
Food & Staples Retailing — 1.7%  

Albertsons LLC, Term Loan B7, (1 mo. LIBOR + 3.00%), 5.44%, 11/17/25

     1,882       1,868,370  

Hearthside Food Solutions LLC:

    

2018 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 6.44%, 05/23/25

     1,887       1,861,320  

2018 Term Loan B, (1 mo. LIBOR + 3.68%), 6.13%, 05/23/25

     581       567,074  

Hostess Brands LLC, 2017 Repriced Term Loan, (1 mo. LIBOR + 2.25%), 4.69%, 08/03/22

     2,907       2,878,248  

US Foods, Inc., 2016 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 06/27/23

     1,594       1,577,999  
   

 

 

  
      8,753,011  
Food Products — 2.5%  

8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.22%, 10/01/25

     573       571,672  

Chobani LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 10/10/23

     2,423       2,371,461  
 

 

 

6   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Food Products (continued)

 

JBS USA LUX SA, 2019 Term Loan B, (2 mo. LIBOR + 2.50%), 5.03%, 05/01/26

   USD  2,306     $ 2,299,750  

Post Holdings, Inc., 2017 Series A Incremental Term Loan, (1 mo. LIBOR + 2.00%), 4.44%, 05/24/24

     1,579       1,571,321  

Reynolds Group Holdings, Inc., 2017 Term Loan, (1 mo. LIBOR + 2.75%), 5.19%, 02/05/23

     6,467       6,406,358  
   

 

 

  
      13,220,562  

Gas Utilities — 0.3%

 

AL Midcoast Holdings LLC, 2018 Term Loan B, (3 mo. LIBOR + 5.50%), 8.10%, 07/31/25

     1,705       1,706,762  
   

 

 

  

Health Care Equipment & Supplies — 1.9%

 

Agiliti Health, Inc., Term Loan, (1 mo. LIBOR + 3.00%), 5.50%, 01/04/26(a)

     737       734,236  

Immucor, Inc., Extended Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.60%, 06/15/21

       3,865       3,846,070  

Mallinckrodt International Finance SA, Term Loan B, (3 mo. LIBOR + 2.75%), 5.35%, 09/24/24

     805       707,276  

Orchid Orthopedic Solutions LLC, 1st Lien Term Loan, (1 mo. LIBOR + 4.50%), 7.10%, 02/26/26

     611       614,055  

Ortho-Clinical Diagnostics SA, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 5.70%, 06/30/25

     4,232       4,085,928  
   

 

 

  
      9,987,565  

Health Care Providers & Services — 8.0%

 

AHP Health Partners, Inc., 2018 Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.94%, 06/30/25

     822       821,790  

CHG Healthcare Services, Inc., 2017 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 06/07/23

     4,050       4,034,844  

Concentra, Inc.:

    

2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 5.22%, 06/01/22(a)

     1,840       1,825,850  

2018 2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 1.00% Floor), 8.97%, 06/01/23

     1,870       1,879,342  

DaVita HealthCare Partners, Inc., Term Loan B, (1 mo. LIBOR + 2.75%), 5.19%, 06/24/21

     400       399,548  
Security   Par
(000)		     Value  

Health Care Providers & Services (continued)

 

DentalCorp Perfect Smile ULC:

    

1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 6.19%, 06/06/25

   USD 862     $ 851,619  

Delayed Draw Term Loan, (3 mo. LIBOR + 3.75%), 6.19%, 06/06/25

     159       156,879  

Diplomat Pharmacy, Inc., 2017 Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.94%, 12/20/24

     995       912,233  

DuPage Medical Group Ltd.:

    

2018 Term Loan, (1 mo. LIBOR + 2.75%), 5.19%, 08/15/24

     853       828,307  

2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 9.43%, 08/15/25

     395       385,868  

Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.19%, 10/10/25

     2,366       2,148,506  

Explorer Holdings, Inc., 2016 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 6.35%, 05/02/23

     1,061       1,058,257  

Gentiva Health Services, Inc.:

    

2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.25%, 07/02/25

     1,585       1,585,124  

2018 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 9.50%, 07/02/26

     787       797,864  

HC Group Holdings II, Inc., Term Loan B,
05/21/26(a)(g)

     1,941       1,926,442  

HC Group Holdings III, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 6.19%, 04/07/22

     2,014       2,006,269  

HCA, Inc.:

    

2018 Term Loan B10, (1 mo. LIBOR + 2.00%), 4.44%, 03/13/25

       1,356       1,355,364  

Term Loan B11, (1 mo. LIBOR + 1.75%), 4.19%, 03/17/23

     1,792       1,790,467  

LGC Science Holdings Ltd., USD Term Loan B3, (1 mo. LIBOR + 3.50%), 5.94%, 03/08/23

     1,000       980,000  

MPH Acquisition Holdings LLC, 2016 Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 5.35%, 06/07/23

     4,020       3,927,303  

nThrive, Inc., 2016 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.94%, 10/20/22

     3,046       2,942,769  

NVA Holdings, Inc., Term Loan B3, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 02/02/25

     2,041       1,972,210  

Radiology Partners, Inc., 2018 1st Lien Term Loan B, 07/09/25(g)

     804       804,756  
 

 

 

     7  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Health Care Providers & Services (continued)

 

ScribeAmerica Intermediate Holdco LLC, 2018 Term Loan, (1 mo. LIBOR + 4.50%), 6.97%, 04/03/25

   USD  1,119     $ 1,106,754  

Sotera Health Holdings LLC, 2017 Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 05/15/22

     1,630       1,613,195  

Team Health Holdings, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 02/06/24

     1,552       1,395,449  

Vizient, Inc., 2019 Term Loan B, (1 mo. LIBOR + 2.75%), 5.22%, 04/16/26

     873       870,358  

WP CityMD Bidco LLC, 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 6.10%, 06/07/24

     1,045       1,025,715  

Zotec Partners LLC, 2018 Term Loan, (1 mo. LIBOR + 5.00%, 1.00% Floor), 7.43%, 02/14/24(a)

     1,209       1,209,000  
   

 

 

  
      42,612,082  

Health Care Services — 0.2%

 

Sound Inpatient Physicians:

    

2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 5.19%, 06/27/25

     699       696,540  

2018 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%), 9.19%, 06/26/26

     382       380,090  
   

 

 

  
      1,076,630  

Health Care Technology — 2.1%

 

Athenahealth, Inc., 2019 Term Loan B, (3 mo. LIBOR + 4.50%), 6.95%, 02/11/26

     4,469       4,459,704  

Change Healthcare Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 03/01/24

       2,681       2,636,706  

GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 5.44%, 10/10/25

     1,067       1,062,932  

Press Ganey Holdings, Inc.,:

    

2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%,1.00% Floor), 5.19%, 10/23/23

     1,902       1,887,662  

2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 1.00% Floor), 8.94%, 10/21/24

     580       578,309  
Security   Par
(000)		     Value  

Health Care Technology (continued)

 

Quintiles IMS, Inc., 2017 Term Loan B, (3 mo. LIBOR + 2.00%), 4.60%, 03/07/24

   USD  499     $ 497,568  
   

 

 

  
      11,122,881  

Hotels, Restaurants & Leisure — 10.7%

 

Aristocrat Technologies, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 1.75%), 4.34%, 10/19/24

     1,510       1,491,615  

Boyd Gaming Corp., Term Loan B3, (1 Week LIBOR + 2.25%), 4.64%, 09/15/23

     3,870       3,845,706  

Burger King Newco Unlimited Liability Co., Term Loan B3, (1 mo. LIBOR + 2.25%, 1.00% Floor), 4.69%, 02/16/24

     7,057       6,962,611  

Caesars Resort Collection LLC, 2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 5.19%, 12/22/24

     4,638       4,600,617  

CCM Merger, Inc., Term Loan B, (1 mo. LIBOR + 2.25%), 4.69%, 08/08/21

     1,415       1,411,862  

CEC Entertainment, Inc., Term Loan B, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 02/14/21

     1,561       1,550,041  

ESH Hospitality, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 08/30/23

     2,830       2,818,214  

Four Seasons Hotels Ltd., 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 4.44%, 11/30/23

     3,121       3,104,033  

Gateway Casinos & Entertainment Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 5.60%, 03/13/25

     149       148,643  

Golden Nugget LLC, 2017 Incremental Term Loan B, (1 mo. LIBOR + 2.75%), 5.19%, 10/04/23

     1,712       1,699,699  

GVC Holdings PLC, 2018 EUR Term Loan, (EURIBOR + 2.75%), 2.75%, 03/29/24

   EUR 991       1,106,715  

Hilton Worldwide Finance LLC, Term Loan B2, (1 mo. LIBOR + 1.75%), 4.18%, 10/25/23

   USD  1,955       1,949,199  

IRB Holding Corp., 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 02/05/25

       3,772       3,730,612  

KFC Holding Co., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 4.19%, 04/03/25

     1,419       1,414,701  

Lakeland Tours LLC, 2017 1st Lien Term Loan B, (3 mo. LIBOR + 4.00%, 1.00% Floor), 6.61%, 12/15/24

     1,048       1,042,766  
 

 

 

8   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Hotels, Restaurants & Leisure (continued)

 

Penn National Gaming, Inc., 2018 1st Lien Term Loan B, (1 mo. LIBOR + 2.25%), 4.69%, 10/15/25

   USD  603     $ 600,054  

Playa Resorts Holding BV, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 04/29/24

     1,262       1,235,097  

Sabre GLBL, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 02/22/24

     2,836       2,814,703  

Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 5.23%, 08/14/24

       3,003       2,952,053  

Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 3.50%), 6.10%, 07/10/25

     5,519       5,515,951  

Station Casinos LLC, 2016 Term Loan B, (1 mo. LIBOR + 2.50%), 4.94%, 06/08/23

     2,965       2,941,256  

Tackle Sarl, 2017 EUR Term Loan, (EURIBOR + 3.25%), 3.25%, 08/08/22

   EUR 1,000       1,108,615  

Wyndham Hotels & Resorts, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 4.19%, 05/30/25

   USD  1,577       1,568,212  

Wynn Resorts Ltd., Term Loan B, (1 mo. LIBOR + 2.25%), 4.69%, 10/30/24

     891       883,196  
   

 

 

  
      56,496,171  

Household Products — 0.4%

 

Energizer Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 4.75%, 12/17/25

     707       702,807  

Mastronardi Produce Ltd., Term Loan B, (1 mo. LIBOR + 3.25%), 5.69%, 05/01/25

     586       581,915  

SIWF Holdings, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 6.68%, 06/15/25(a)

     873       838,464  
   

 

 

  
      2,123,186  

Independent Power and Renewable Electricity Producers — 1.4%

 

AES Corp., 2018 Term Loan B, (3 mo. LIBOR + 1.75%), 4.27%, 05/31/22

     743       740,675  

Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.50%), 4.94%, 01/15/25

     1,244       1,232,410  

Calpine Corp., Term Loan B9, (3 mo. LIBOR + 2.75%), 5.34%, 04/05/26

     2,692       2,677,032  

EIF Channelview Cogeneration LLC, 2018 Term Loan B, (1 mo. LIBOR + 4.25%, 1.00% Floor), 6.69%, 05/03/25

     427       429,851  
Security   Par
(000)		     Value  

Independent Power and Renewable Electricity Producers (continued)

 

Granite Acquisition, Inc.:

    

Term Loan B, (3 mo. LIBOR + 3.50%,1.00% Floor), 6.09%, 12/19/21

   USD  2,038     $ 2,037,321  

Term Loan C, (3 mo. LIBOR + 3.50%, 1.00% Floor), 6.10%, 12/19/21

     273       272,794  
   

 

 

  
      7,390,083  

Industrial Conglomerates — 1.5%

 

Cortes NP Acquisition Corp., 2017 Term Loan B, (1 mo. LIBOR + 4.00%, 1.00% Floor), 6.44%, 11/30/23(a)

     4,056       3,812,219  

Sequa Mezzanine Holdings LLC, 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.49%, 11/28/21

     1,868       1,835,086  

Sundyne US Purchaser, Inc., Term Loan, (1 mo. LIBOR + 4.00%), 6.44%, 05/15/26(a)

     2,142       2,136,645  
   

 

 

  
      7,783,950  

Insurance — 4.8%

 

Achilles Acquisition LLC, 2018 Term Loan, (1 mo. LIBOR + 4.00%), 6.50%, 10/13/25

     823       819,914  

Alliant Holdings I, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 5.43%, 05/09/25

       3,635       3,537,941  

Alliant Holdings Intermediate LLC, Term Loan B, 05/09/25(g)

     1,812       1,786,324  

AmWINS Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 01/25/24

     3,499       3,465,655  

AssuredPartners, Inc., 2017 1st Lien Add-On Term Loan, (1 mo. LIBOR + 3.50%), 5.94%, 10/22/24

     2,899       2,864,114  

Davis Vision, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 12/02/24

     1,828       1,783,884  

Hub International Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 5.34%, 04/25/25

     3,167       3,081,781  

Sedgwick Claims Management Services, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 5.69%, 12/31/25

     7,287       7,175,041  

Stratose Intermediate Holdings II LLC, 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 06/22/23

     821       814,068  
   

 

 

  
      25,328,722  

Interactive Media & Services — 1.2%

 

Go Daddy Operating Co. LLC, 2017 Repriced Term Loan, (1 mo. LIBOR + 2.00%), 4.44%, 02/15/24

     2,968       2,960,586  
 

 

 

     9  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Interactive Media & Services (continued)

 

Inmar Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 6.60%, 05/01/24

   USD  1,022     $ 962,413  

Rackspace Hosting, Inc., 2017 Incremental 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.52%, 11/03/23

     1,596       1,475,071  

TierPoint LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 6.19%, 05/06/24

     1,237       1,145,871  
   

 

 

  
      6,543,941  

IT Services — 5.7%

 

Access CIG LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.19%, 02/27/25

     662       658,053  

Altran Technologies SA, 1st Lien Term Loan, (3 mo. LIBOR + 2.25%), 4.88%, 03/20/25

     673       666,468  

Epicor Software Corp., 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 06/01/22

     2,149       2,137,758  

Evertec Group LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 5.94%, 11/27/24

     921       919,155  

First Data Corp., 2024 Term Loan, (1 mo. LIBOR + 2.00%), 4.44%, 04/26/24

       8,069       8,054,109  

Flexential Intermediate Corp., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.50%), 6.10%, 08/01/24

     1,349       1,244,868  

Global Payments, Inc.:

    

2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 4.19%, 04/21/23

     821       819,991  

2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 4.19%, 10/17/25

     274       273,800  

Greeneden US Holdings II LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 5.69%, 12/01/23

     1,614       1,596,575  

Optiv Security, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 02/01/24

     641       595,343  

Peak 10 Holding Corp., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 1.00% Floor), 9.83%, 08/01/25

     1,295       1,074,850  

TKC Holdings, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 6.19%, 02/01/23

     803       795,578  

Trans Union LLC:

    

2018 Term Loan B4, (1 mo. LIBOR + 2.00%), 4.44%, 06/19/25

     18       17,801  
Security   Par
(000)		     Value  

IT Services (continued)

 

Term Loan B3, (1 mo. LIBOR + 2.00%), 4.44%, 04/10/23

   USD  4,748     $ 4,732,439  

WEX, Inc., Term Loan B3, (1 mo. LIBOR + 2.25%), 4.69%, 05/15/26

     4,654       4,616,853  

Worldpay LLC, 2018 1st Lien Term Loan B4, (1 mo. LIBOR + 1.75%), 4.15%, 08/09/24

     1,706       1,704,414  
   

 

 

  
      29,908,055  

Leisure Products — 0.2%

 

MND Holdings III Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 6.10%, 06/19/24

     1,018       1,003,538  
   

 

 

  

Life Sciences Tools & Services — 0.2%

 

Albany Molecular Research, Inc.:

    

2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%,1.00% Floor), 5.69%, 08/30/24

     554       539,450  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%,1.00% Floor), 9.44%, 08/30/25

     395       391,050  
   

 

 

  
      930,500  

Machinery — 2.1%

 

Clark Equipment Co., 2018 Term Loan B, (3 mo. LIBOR + 2.00%), 4.60%, 05/18/24

     878       867,810  

Columbus McKinnon Corp., 2018 Term Loan B, (3 mo. LIBOR + 2.50%, 1.00% Floor), 5.10%, 01/31/24

     160       159,283  

Gardner Denver, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%), 5.19%, 07/30/24

       2,278       2,276,348  

Infiltrator Systems, Inc., 2017 1st Lien Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.60%, 05/27/22

     1,938       1,925,144  

Terex Corp., 2019 Term Loan B1, (1 mo. LIBOR + 2.75%), 5.19%, 01/31/24

     325       324,798  

Titan Acquisition Ltd., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 5.44%, 03/28/25

     4,702       4,508,348  

Welbilt, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.50%), 4.94%, 10/23/25

     993       981,582  
   

 

 

  
      11,043,313  

Media — 10.1%

 

Altice Financing SA:

    

2017 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 5.18%, 01/31/26

     711       679,361  
 

 

 

10   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Media (continued)

 

2017 Term Loan B, (1 mo. LIBOR + 2.75%), 5.19%, 07/15/25

   USD  242     $ 231,517  

Altice France SA, 2018 Term Loan B13, (1 mo. LIBOR + 4.00%), 6.44%, 08/14/26

     3,591       3,487,807  

Charter Communications Operating LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 04/30/25

     4,429       4,418,895  

CSC Holdings LLC:

    

2017 1st Lien Term Loan, (1 mo. LIBOR + 2.25%), 4.69%, 07/17/25

     1,352       1,323,745  

2018 Term Loan B, (1 mo. LIBOR + 2.50%), 4.94%, 01/25/26

     1,678       1,657,074  

Cumulus Media New Holdings, Inc., Exit Term Loan, 05/15/22(g)

     1,385       1,379,093  

EW Scripps Co., Incremental Term Loan B, (1 mo. LIBOR + 2.75%), 5.24%, 04/04/26

     1,026       1,022,799  

Gray Television, Inc.:

    

2017 Term Loan B, (1 mo. LIBOR + 2.25%), 4.73%, 02/07/24

     607       602,510  

2018 Term Loan C, (1 mo. LIBOR + 2.50%), 4.98%, 01/02/26

     1,453       1,445,858  

Hubbard Radio LLC, 2015 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 03/28/25

     218       216,932  

iHeartCommunications, Inc., Exit Term Loan, (3 mo. LIBOR + 4.00%), 6.58%, 05/01/26(d)

     4,206       4,207,494  

Intelsat Jackson Holdings SA, 2017 Term Loan B4, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.93%, 01/02/24

     1,921       1,919,994  

Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.69%, 12/01/23

       2,496       2,485,158  

Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 4.69%, 03/24/25

     1,440       1,429,020  

Live Nation Entertainment, Inc., Term Loan B3, (1 mo. LIBOR + 1.75%), 4.25%, 10/31/23

     473       471,150  

MCC Iowa LLC, Term Loan N, (1 Week LIBOR + 1.75%), 4.14%, 02/15/24

     1,070       1,061,124  

Meredith Corp., 2018 Term Loan B, (LIBOR + 2.75%), 5.19%, 01/31/25

     849       784,560  

MH Sub I LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.18%, 09/13/24

     834       827,110  

Numericable Group SA, Term Loan B12, (1 mo. LIBOR + 3.68%), 6.13%, 01/31/26

     537       515,733  
Security   Par
(000)		     Value  

Media (continued)

 

PSAV Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.74%, 03/01/25

   USD  1,024     $ 995,031  

Radiate Holdco LLC, 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 5.44%, 02/01/24

     2,322       2,285,610  

Sinclair Television Group, Inc., Term Loan B2, (1 mo. LIBOR + 2.25%), 4.69%, 01/03/24

     192       190,749  

Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.43%, 09/28/23

     3,656       3,644,419  

Tribune Media Co., Term Loan C, (1 mo. LIBOR + 3.00%), 5.44%, 01/27/24

     3,696       3,690,340  

Unitymedia Finance LLC:

    

Term Loan B, (1 mo. LIBOR + 2.25%), 4.69%, 09/30/25

     1,680       1,670,659  

USD Term Loan D, (1 mo. LIBOR + 2.25%), 4.69%, 01/15/26

     360       357,692  

Unitymedia Hessen GmbH & Co. KG, 2018 Term Loan E, (1 mo. LIBOR + 2.00%), 4.44%, 06/01/23

     1,301       1,294,265  

Univision Communications, Inc., Term Loan C5, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 03/15/24

     1,151       1,090,034  

Virgin Media Bristol LLC, 2017 Term Loan, (1 mo. LIBOR + 2.50%), 4.94%, 01/15/26

     2,558       2,533,392  

William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 5.36%, 05/18/25

     3,375       3,265,330  

Ziggo Secured Finance Partnership, Term Loan E, (1 mo. LIBOR + 2.50%), 4.94%, 04/15/25

     2,392       2,330,894  
   

 

 

  
      53,515,349  

Metals & Mining — 0.6%

 

Ball Metalpack LLC, 2018 1st Lien Term Loan B, (3 mo. LIBOR + 4.50%), 7.02%, 07/24/25

     802       801,386  

Equinox Holdings, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.44%, 03/08/24

       2,144       2,134,479  
   

 

 

  
      2,935,865  

Multiline Retail — 0.9%

 

Eyemart Express LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.43%, 08/04/24

     970       962,948  

Harbor Freight Tools USA, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.50%), 4.94%, 08/18/23

     1,305       1,264,079  
 

 

 

     11  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Multiline Retail (continued)

 

Hudson’s Bay Co., 2015 Term Loan B, (2 mo. LIBOR + 3.25%, 1.00% Floor), 5.81%, 09/30/22

   USD  1,435     $ 1,410,743  

Neiman Marcus Group Ltd. LLC, 2020 Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.72%, 10/25/20

     1,204       1,082,499  
   

 

 

  
      4,720,269  

Oil & Gas Equipment & Services — 0.3%

 

McDermott Technology Americas, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 5.00%, 1.00% Floor), 7.44%, 05/10/25

     1,595       1,546,110  
   

 

 

  

Oil, Gas & Consumable Fuels — 1.1%

 

BCP Raptor II LLC, 1st Lien Term Loan, (1 mo. LIBOR + 4.75%), 7.19%, 11/03/25

     837       809,797  

California Resources Corp., Second Out Term Loan, (1 mo. LIBOR + 10.37%, 1.00% Floor), 12.80%, 12/31/21

     1,245       1,253,281  

CONSOL Energy, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.94%, 09/27/24

     1,238       1,229,743  

Edgewater Generation LLC:

    

Add on Term Loan B, 12/13/25(a)(g)

     511       509,084  

Term Loan, (1 mo. LIBOR + 3.75%), 6.19%, 12/13/25

     798       796,603  

EG Group Ltd., 2018 Term Loan B, (3 mo. LIBOR + 4.00%), 6.60%, 02/07/25

     797       781,672  

MEG Energy Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 12/31/23

     412       411,273  
   

 

 

  
      5,791,453  

Personal Products — 0.3%

 

Prestige Brands, Inc., Term Loan B4, (1 mo. LIBOR + 2.00%), 4.44%, 01/26/24

     1,504       1,489,797  
   

 

 

  

Pharmaceuticals — 4.5%

 

Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 6.00%, 05/04/25

       2,574       2,550,516  

Catalent Pharma Solutions, Inc., Incremental Term Loan B, (1 mo. LIBOR + 2.25%), 4.68%, 05/18/26

     1,610       1,606,651  

Endo Luxembourg Finance Co. I Sarl, 2017 Term Loan B, (1 mo. LIBOR + 4.25%), 6.75%, 04/29/24

     3,079       2,965,412  
Security   Par
(000)		     Value  

Pharmaceuticals (continued)

 

Grifols Worldwide Operations USA, Inc., 2017 Acquisition Term Loan, (1 Week LIBOR + 2.25%), 4.64%, 01/31/25

   USD  3,617     $ 3,597,819  

Jaguar Holding Co. II, 2018 Term Loan, (1 mo. LIBOR + 2.50%, 1.00% Floor), 4.94%, 08/18/22

     5,400       5,334,096  

Valeant Pharmaceuticals International, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 5.47%, 06/02/25

     7,916       7,884,906  
   

 

 

  
      23,939,400  

Professional Services — 1.7%

 

Cast and Crew Payroll LLC, 2019 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 6.44%, 02/09/26

       2,081       2,090,885  

Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 5.00%), 7.43%, 02/01/26

     3,994       3,984,015  

Information Resources, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 4.50%), 7.02%, 12/01/25

     502       495,315  

ON Assignment, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 04/02/25

     1,173       1,170,140  

SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 5.50%), 8.10%, 08/04/25(a)

     1,133       1,113,049  
   

 

 

  
      8,853,404  

Real Estate Management & Development — 2.2%

 

CityCenter Holdings LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 4.69%, 04/18/24

     4,685       4,635,624  

DTZ US Borrower LLC, 2018 Add On Term Loan B, (1 mo. LIBOR + 3.25%), 5.69%, 08/21/25

     3,134       3,123,545  

Forest City Enterprises LP, Term Loan B, (1 mo. LIBOR + 4.00%), 6.44%, 12/07/25

     2,107       2,111,102  

Realogy Corp., 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 4.69%, 02/08/25

     786       747,900  

SMG Holdings, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 5.44%, 01/23/25

     1,201       1,189,843  
   

 

 

  
      11,808,014  

Road & Rail — 0.2%

 

Moda Ingleside Energy Center LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 5.69%, 09/29/25

     739       738,918  
 

 

 

12   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Road & Rail (continued)

 

Road Infrastructure Investment LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 06/13/23

   USD  385     $ 341,404  
   

 

 

  
      1,080,322  

Semiconductors & Semiconductor Equipment — 0.6%

 

Microchip Technology, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 05/29/25

     857       853,362  

NEO Technology, Inc, Term Loan B, (1 mo. LIBOR + 5.00%, 1.00% Floor), 7.44%, 04/30/26(a)

     1,210       1,203,950  

Versum Materials, Inc., Term Loan, (3 mo. LIBOR + 2.00%), 4.60%, 09/29/23

     931       928,797  
   

 

 

  
      2,986,109  

Software — 16.8%

 

Applied Systems, Inc.:

    

2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00%,1.00% Floor), 5.44%, 09/19/24

       2,691       2,673,416  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%,1.00% Floor), 9.44%, 09/19/25

     491       493,844  

BMC Software Finance, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%), 6.85%, 10/02/25

     2,704       2,653,178  

Cypress Intermediate Holdings III, Inc.:

    

2017 1st Lien Term Loan, (1 mo. LIBOR + 2.75%,1.00% Floor), 5.19%, 04/26/24

     904       898,655  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 1.00% Floor), 9.19%, 04/27/25

     814       817,053  

Dell, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 4.44%, 09/07/23

     2,669       2,653,923  

Digicel International Finance Ltd., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 5.78%, 05/28/24

     1,470       1,317,594  

DTI Holdco, Inc., 2018 Term Loan B, (3 mo. LIBOR + 4.75%, 1.00% Floor), 7.33%, 09/30/23

     1,427       1,320,047  

Financial & Risk US Holdings, Inc., 2018 USD Term Loan, (1 mo. LIBOR + 3.75%), 6.19%, 10/01/25

     8,980       8,748,130  

Help/Systems Holdings, Inc, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 6.19%, 03/28/25

     1,181       1,173,693  
Security   Par
(000)		     Value  

Software (continued)

 

Infor (US), Inc., Term Loan B6, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 02/01/22

   USD  6,654     $ 6,625,219  

Informatica Corp., 2018 Term Loan, (1 mo. LIBOR + 3.25%), 5.69%, 08/05/22

       4,206       4,200,421  

Kronos, Inc.:

    

2017 Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.58%, 11/01/23

     5,136       5,118,439  

2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 1.00% Floor), 10.83%, 11/01/24

     2,135       2,196,381  

McAfee LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 6.18%, 09/30/24

     3,710       3,703,683  

Mitchell International, Inc.:

    

2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 5.69%, 11/29/24

     3,874       3,690,148  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 9.69%, 12/01/25

     850       819,544  

Renaissance Holding Corp., 2018 Add On Term Loan, (2 mo. LIBOR + 3.25%), 5.73%, 05/30/25

     700       684,263  

RP Crown Parent LLC, 2016 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 5.19%, 10/12/23

     1,617       1,604,158  

Severin Acquisition LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.25%), 5.82%, 08/01/25(a)

     1,006       991,380  

SolarWinds Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.75%), 5.19%, 02/05/24

     4,676       4,636,011  

Solera LLC, Term Loan B, (1 mo. LIBOR + 2.75%), 5.19%, 03/03/23

     5,377       5,334,964  

SonicWALL, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.50%), 6.02%, 05/16/25

     567       550,844  

Sophia LP, 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.85%, 09/30/22

     5,755       5,719,086  

SS&C Technologies Holdings Europe Sarl, 2018 Term Loan B4, (1 mo. LIBOR + 2.25%), 4.69%, 04/16/25

     1,723       1,710,756  

SS&C Technologies, Inc.:

    

2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 4.69%, 07/08/22

     2,677       2,669,882  

2018 Term Loan B3, (1 mo. LIBOR + 2.25%), 4.69%, 04/16/25

     2,455       2,438,441  

2018 Term Loan B5, (1 mo. LIBOR + 2.25%), 4.69%, 04/16/25

     1,781       1,769,025  
 

 

 

     13  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Software (continued)

 

Tempo Acquisition LLC, Term Loan, (1 mo. LIBOR + 3.00%), 5.44%, 05/01/24

   USD  2,954     $ 2,937,595  

Tibco Software, Inc., Repriced Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 12/04/20

     4,248       4,239,314  

Ultimate Software Group, Inc., Term Loan B, (3 mo. LIBOR + 3.75%), 6.27%, 05/04/26

       2,827       2,827,000  

Vertafore, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 5.69%, 07/02/25

     1,777       1,709,331  
   

 

 

  
      88,925,418  

Specialty Retail — 1.7%

 

Belron Finance US LLC:

    

(3 mo. LIBOR + 2.50%), 5.07%, 11/07/24

     2,951       2,941,792  

3 mo. LIBOR + 2.50%), 5.04%, 11/13/25

     452       450,738  

CD&R Firefly Bidco Ltd., 2018 GBP Term Loan B1, (GBP LIBOR + 4.50%), 5.32%, 06/23/25

   GBP  1,000       1,259,332  

IAA Spinco, Inc., Term Loan B, 05/22/26(a)(g)

   USD 851       853,391  

Leslie’s Poolmart, Inc., 2018 Term Loan, (2 mo. LIBOR + 3.50%, 1.00% Floor), 5.98%, 08/16/23

     1,226       1,187,898  

Midas Intermediate Holdco II LLC, Incremental Term Loan B, 08/18/21(a)(g)

     786       762,604  

National Vision, Inc., 2017 Repriced Term Loan, (1 mo. LIBOR + 2.50%), 4.94%, 11/20/24

     250       250,331  

Research Now Group, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 5.50%, 1.00% Floor), 8.08%, 12/20/24

     1,249       1,241,068  
   

 

 

  
      8,947,154  

Technology Hardware, Storage & Peripherals — 0.8%

 

Western Digital Corp., 2018 Term Loan B4, (3 mo. LIBOR + 1.75%), 4.19%, 04/29/23(a)

     4,144       4,019,259  
   

 

 

  

Textiles, Apparel & Luxury Goods — 0.5%

 

Ascend Performance Materials Operations LLC, Term Loan B, (2 mo. LIBOR + 5.25%, 1.00% Floor), 7.79%, 08/12/22

     2,367       2,363,794  
Security   Par
(000)		     Value  

Textiles, Apparel & Luxury Goods (continued)

 

Varsity Brands, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.94%, 12/15/24

   USD  528     $ 518,939  
   

 

 

  
      2,882,733  

Thrifts & Mortgage Finance — 0.7%

 

IG Investment Holdings LLC, 2018 1st Lien Term Loan, (2 mo. LIBOR + 4.00%, 1.00% Floor), 6.60%, 05/23/25

       3,456       3,433,994  
   

 

 

  

Trading Companies & Distributors — 1.0%

 

Beacon Roofing Supply, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 4.70%, 01/02/25

     1,205       1,190,161  

HD Supply, Inc., Term Loan B5, (1 mo. LIBOR + 1.75%), 4.19%, 10/17/23

     3,848       3,840,789  

Oxbow Carbon LLC, 2017 1st Lien Term Loan B, (1 mo. LIBOR + 3.75%), 6.19%, 01/04/23

     269       269,326  

United Rentals, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 4.19%, 10/31/25

     226       225,422  
   

 

 

  
      5,525,698  

Transportation — 0.2%

 

Gruden Acquisition, Inc., 2017 Term Loan, (3 mo. LIBOR + 5.50%, 1.00% Floor), 8.10%, 08/18/22(a)

     490       485,499  

Safe Fleet Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 5.47%, 02/01/25

     823       798,440  
   

 

 

  
      1,283,939  

Utilities — 0.1%

 

ExGen Renewables IV LLC, Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.53%, 11/28/24

     693       657,385  
   

 

 

  

Wireless Telecommunication Services — 1.4%

 

Geo Group, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.43%, 03/22/24

     1,991       1,911,613  

Ligado Networks LLC, PIK Exit Term Loan (9.75% PIK), 9.75%, 12/07/20(h)

     1,687       1,236,891  

SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 4.44%, 04/11/25

     4,337       4,268,646  
   

 

 

  
      7,417,150  
   

 

 

  

Total Floating Rate Loan Interests — 137.4%
(Cost — $736,286,210)

 

     727,343,410  
   

 

 

  
 

 

 

14   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Investment Companies — 5.0%

 

United States — 5.0%  

Invesco Senior Loan ETF

     1,170,000     $ 26,488,800  
   

 

 

  

Total Investment Companies — 5.0%
(Cost — $26,501,494)

 

     26,488,800  
   

 

 

  
     Beneficial
Interest
(000)		         

Other Interests(a)(b)(i) — 0.0%

 

United States — 0.0%  

Millennium Corp.

   USD 1,607       —  

Millennium Lender Claims

       1,508       —  
   

 

 

  

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

 

     —  
   

 

 

  
Security   Shares     Value  

Preferred Securities — 0.3%

 

Trust Preferreds — 0.3%  
Diversified Financial Services — 0.3%  

GMAC Capital Trust I, Series 2, 8.30% 02/15/40(j)

     60,894     $ 1,572,283  
   

 

 

  

Total Trust Preferreds — 0.3%
(Cost — $1,606,167)

 

     1,572,283  
   

 

 

  

Total Preferred Securities — 0.3%
(Cost — $1,606,167)

 

     1,572,283  
   

 

 

  

Warrants — 0.1%

 

Media — 0.1%  

iHeartMedia, Inc. (Expires 05/01/39)

     43,029       709,935  
   

 

 

  
Software — 0.0%  

HMH Holdings/EduMedia (Issued/exercisable 03/09/10, 19 Shares for 1 Warrant, Expires 6/22/19, Strike Price $42.27)(a)

     2,406       —  
   

 

 

  

Total Warrants — 0.1%
(Cost — $774,503)

 

     709,935  
   

 

 

  

Total Long-Term Investments — 145.9%
(Cost — $785,860,571)

 

     772,756,053  
   

 

 

  

Options Purchased — 0.0%
(Cost — $82,790)

 

     19,210  
   

 

 

  

Total Investments — 145.9%
(Cost — $785,943,361)

 

     772,775,263  

Liabilities in Excess of Other Assets — (45.9)%

 

     (243,246,368 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 529,528,895  
   

 

 

  

 

 
(a)

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

(b)

Non-income producing security.

(c)

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

(d)

Issuer filed for bankruptcy and/or is in default.

(e)

Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $894,953, representing 0.17% of its net assets as of period end, and an original cost of $845,135.

(f)

Variable rate security. Rate shown is the rate in effect as of period end.

(g)

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.

(h)

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

(i)

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

(j)

Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.

 

 

     15  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

 

During the period ended May 31, 2019, investments in issuers considered to be an affiliate/affiliates of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate    Shares
Held at
08/31/18		      Net
Activity		      Shares
Held at
05/31/19		      Value at
05/31/19		      Income      Net
Realized
Gain (Loss) (a)		      Change in
Unrealized
Appreciation
(Depreciation)		  

BlackRock Liquidity Funds, T-Fund,
Institutional Class*

      155,382        (155,382 )       —      $ —      $ 29,522      $ —      $ —  
           

 

 

     

 

 

     

 

 

     

 

 

  

 

  *

No longer held by the fund as of period end.

 
  (a) 

Includes net capital gain distributions, if applicable.

 

Portfolio Abbreviations

DIP — Debtor-In-Possession

EURIBOR — Euro Interbank Offered Rate

EUR — Euro

ETF — Exchange-Traded Fund

GBP — British Pound

LIBOR — London Interbank Offered Rate

MTN — Medium-Term Note

PIK — Payment-In-Kind

S&P — S&P Global Ratings

SPDR — Standard & Poor’s Depository Receipts

USD — United States Dollar

 

 

16   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

 

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts

 

Currency
Purchased		        Currency
Sold		        Counterparty      Settlement Date        Unrealized
Appreciation
(Depreciation)		  
EUR     4,613,000        USD     5,142,526        HSBC Bank PLC        06/05/19        $ 11,308  
GBP     1,896,000        USD     2,384,220        JPMorgan Chase Bank N.A.        06/05/19          12,917  
USD     5,200,843        EUR     4,622,000        State Street Bank and Trust Co.        06/05/19          36,953  
USD     2,485,309        GBP     1,899,000        State Street Bank and Trust Co.        06/05/19          84,380  
                       

 

 

  
                          145,558  
                       

 

 

  
USD     5,154,834        EUR     4,613,000        HSBC Bank PLC        07/03/19          (11,298 ) 
USD     2,387,731        GBP     1,896,000        JPMorgan Chase Bank N.A.        07/03/19          (12,901 ) 
                       

 

 

  
                          (24,199 ) 
                       

 

 

  
                        $ 121,359  
                       

 

 

  

Exchange-Traded Options Purchased

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		        Notional
Amount (000)		        Value  

Call

                                 

Health Care Select Sector SPDR

      125          06/21/19          USD          92.00          USD          1,091        $ 1,125  

SPDR S&P 500 ETF Trust

      80          06/21/19          USD          305.00          USD          2,202          120  

SPDR S&P 500 ETF Trust

      250          06/21/19          USD          299.00          USD          6,882          375  

SPDR S&P 500 ETF Trust

      210          06/21/19          USD          289.00          USD          5,781          4,935  

iShares iBoxx USD High Yield Corporate Bond ETF

      165          06/21/19          USD          87.00          USD          1,401          413  

iShares iBoxx USD High Yield Corporate Bond ETF

      415          07/19/19          USD          86.00          USD          3,523          12,242  
                                

 

 

  
     $     19,210  
                                

 

 

  

 

 

     17  

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

 

Fair Value Hierarchy as of Period End

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

 

  •  

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

 

  •  

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

 

  •  

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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

The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

      Level 1        Level 2        Level 3      Total  

Assets:

               

Investments:

               

Long-Term Investments:

                

Common Stocks(a)

    $ 691,573        $ 224        $ 1,065,209      $ 1,757,006  

Corporate Bonds

      —          11,866,777          3,017,842        14,884,619  

Floating Rate Loan Interests

      —          688,811,352          38,532,058        727,343,410  

Investment Companies

      26,488,800          —          —        26,488,800  

Other Interests

      —          —          0 (b)       0 (b) 

Preferred Securities

      1,572,283          —          —        1,572,283  

Warrants

      —          709,935          0 (b)       709,935  

Options Purchased:

                

Equity contracts

      19,210          —          —        19,210  

Liabilities:

                

Investments:

                

Unfunded Floating Rate Loan Interests(c)

           (807 )            (807 ) 
  

 

 

       

 

 

       

 

 

     

 

 

  
   $ 28,771,866        $ 701,387,481        $ 42,615,109      $ 772,774,456  
  

 

 

       

 

 

       

 

 

     

 

 

  

Derivative Financial Instruments(d)

                

Assets:

               

Forward foreign currency contracts

    $ —        $ 145,558        $ —      $ 145,558  

Liabilities:

                

Forward foreign currency contracts

      —          (24,199 )         —        (24,199 ) 
  

 

 

       

 

 

       

 

 

     

 

 

  
   $ —        $ 121,359        $ —      $ 121,359  
  

 

 

       

 

 

       

 

 

     

 

 

  

 

  (a)

See above Schedule of Investments for values in each industry.

 
  (b)

Rounds to less than $1

 
  (c)

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

 
  (d)

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

 

 

 

18   

Schedule of Investments  (unaudited) (continued)

May 31, 2019

   

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

 

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of period end, bank borrowings payable of $219,000,000 is categorized as Level 2 within the disclosure hierarchy.

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

 

      Asset-Backed
Securities		      Common
Stocks		      Corporate
Bonds		      Floating
Rate Loan
Interests		      Other
Interests		     Warrants     Options
Purchased		      Total  

Assets:

                      

Opening balance, as of August 31, 2018

    $ 2,698,550      $ 2,048,238      $ 2,892,436      $ 36,749,545      $ 0 (a)    $ 0 (a)    $ —      $ 44,388,769  

Transfers into Level 3(b)

      —        —        —        19,608,736        —       —       —        19,608,736  

Transfers out of Level 3(c)

     —        —        —        (12,118,908 )       —       —       —        (12,118,908 ) 

Accrued discounts/premiums

      —        —        —        10,607        —       —       —        10,872  

Net realized gain (loss)

      (39,405 )       63,043        —        (1,466,695 )       —       —       (43,022 )       (1,483,359 ) 

Net change in unrealized appreciation (depreciation)(d)

      —        (1,034,475 )       (851,988 )       307,820        —       —       43,022        (1,535,621 ) 

Purchases

      —        317,169        —        17,145,669        —       —       —        18,439,967  

Sales

      (2,659,145 )       (328,766 )       —        (21,704,716 )       —       —       —        (24,695,347 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Closing balance, as of May 31, 2019

    $ —      $ 1,065,209      $   3,017,842      $ 38,532,058      $ 0 (a)    $ 0 (a)    $ —      $ 42,615,109  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

Net change in unrealized appreciation (depreciation) on investments still held at May 31, 2019(d)

    $ —      $   (1,034,475 )     $ (851,988 )     $ (753,368 )     $ —     $ —     $ —      $ (2,639,831 ) 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

    

 

 

     

 

 

  

 

  (a)

Rounds to less than $1.

 
  (b)

As of August 31, 2018 the Fund used observable inputs in determining the value of certain investments. As of May 31, 2019, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy.

 
  (c)

As of August 31, 2018, the Fund used significant unobservable inputs in determining the value of certain investments. As of May 31, 2019, the Fund used observable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy.

 
  (d)

Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at May 31, 2019 is generally due to investments no longer held or categorized as Level 3 at period end.

 

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

 

 

     19