NPORT-EX 2 BRFloatingRateIncomeStratFnd.htm EX-FRA

Schedule of Investments  (unaudited) 

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security         
Shares		     Value  

Common Stocks — 0.2%

 

Diversified Financial Services — 0.0%  

Kcad Holdings I Ltd.(a)(b)

       309,827,230     $ 210,682  
     

 

 

  
Health Care Management Services — 0.0%  

New Millennium HoldCo, Inc.(b)

       14,906       89  
     

 

 

  
Media — 0.1%  

Clear Channel Outdoor Holdings, Inc.(b)

       114,650       284,332  

iHeartMedia, Inc., Class A(b)

       5,727       88,139  
     

 

 

  
        372,471  
Metals & Mining — 0.0%  

Preferred Proppants LLC(a)(b)

       12,198       27,446  
     

 

 

  
Semiconductors & Semiconductor Equipment — 0.0%  

SunPower Corp.(b)

       1,860       13,931  
     

 

 

  
Software — 0.0%  

Avaya Holdings Corp.(b)

       66       843  
     

 

 

  
Utilities — 0.1%  

Texgen LLC(a)(b)

       8,431       379,395  
     

 

 

  

Total Common Stocks — 0.2%
(Cost — $4,775,645)

 

     1,004,857  
     

 

 

  
            Par
(000)		         

Corporate Bonds — 1.1%

 

Aerospace & Defense — 0.3%  

Wolverine Escrow LLC, 9.00%, 11/15/26(c)

     USD       1,555     $ 1,570,706  
     

 

 

  
Diversified Consumer Services — 0.0%              

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

       170       178,713  
     

 

 

  
Electrical Equipment — 0.2%  

Vertiv Group Corp., 10.00%, 06/30/24(a)

       871       875,355  
     

 

 

  
Electric Utilities — 0.0%  

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

       1,061       —  
     

 

 

  
Media — 0.0%  

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

       79       88,875  
     

 

 

  
Security          Par
(000)		     Value  
Metals & Mining — 0.1%  

Freeport-McMoRan, Inc., 3.88%, 03/15/23

     USD       625     $ 637,750  
     

 

 

  
Oil, Gas & Consumable Fuels — 0.1%                  

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

       790       671,500  
     

 

 

  
Software — 0.4%  

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

       1,176       1,198,109  

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

       658       668,692  
     

 

 

  
        1,866,801  
     

 

 

  

Total Corporate Bonds — 1.1%
(Cost — $5,980,542)

 

     5,889,700  
     

 

 

  

Floating Rate Loan Interests(e) — 135.8%

 

Aerospace & Defense — 3.0%  

1199169 B.C. Unlimited Liability Co., 2019 Term Loan B2, 04/06/26(f)

       1,984       1,989,562  

Atlantic Aviation FBO, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 5.46%, 12/06/25(a)

       1,163       1,171,934  

Bleriot US Bidco, Inc.:

      

Delayed Draw Term Loan, 0.00%, 10/31/26

       177       —  

Term Loan B, (3 mo. LIBOR + 4.75%), 6.61%, 10/31/26

       1,135       1,138,888  

Dynasty Acquisition Co., Inc., 2019 Term Loan B1, 04/06/26(f)

       3,690       3,700,585  

Nordam Group, Inc., Term Loan B, (1 mo. LIBOR + 5.50%), 7.31%, 04/09/26(a)

       788       782,130  

TransDigm, Inc.:

      

2018 Term Loan F, (1 mo. LIBOR + 2.50%), 4.20%, 06/09/23

       6,268       6,268,419  

2018 Term Loan G, 08/22/24(f)

       476       475,450  
     

 

 

  
        15,526,968  
Air Freight & Logistics — 1.0%  

Avolon TLB Borrower 1 (US) LLC, Term Loan B3, (1 mo. LIBOR + 1.75%), 3.47%, 01/15/2hearth5

       1,757       1,763,408  

WestJet Airlines Ltd., Term Loan B, 08/07/26(f)

       3,195       3,211,422  
     

 

 

  
        4,974,830  
 

 

 

     1  

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Airlines — 0.9%  

Allegiant Travel Co., Term Loan B, (3 mo. LIBOR + 4.50%), 6.39%, 02/05/24

     USD       1,486     $ 1,490,423  

American Airlines, Inc.:

      

2017 Incremental Term Loan, (1 mo. LIBOR + 2.00%), 3.77%, 12/14/23

       1,852       1,852,105  

Repriced TL B due 2023, (1 mo. LIBOR + 2.00%), 3.70%, 04/28/23

       1,079       1,078,582  
     

 

 

  
        4,421,110  
Auto Components — 2.3%  

Panther BF Aggregator 2 LP, USD Term Loan B, (1 mo. LIBOR + 3.50%), 5.20%, 04/30/26

       6,571       6,566,926  

USI, Inc.(f):

      

2017 Repriced Term Loan, 05/16/24

       3,858       3,805,929  

2019 Incremental Term Loan B, 1.00%, 12/02/26

       220       219,632  

Wand NewCo 3, Inc., 2019 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.20%, 02/05/26

       1,419       1,424,056  
     

 

 

  
        12,016,543  
Banks — 0.7%  

Capri Finance LLC, 2017 1st Lien Term Loan, 11/01/24(f)

       3,532       3,442,530  
     

 

 

  
Building Materials — 1.1%  

Allied Universal Holdco LLC:

      

2019 Delayed Draw Term Loan, 07/10/26(f)

       569       —  

2019 Term Loan B, (6 mo. LIBOR + 4.25%), 6.51%, 07/10/26

       5,744       5,718,090  
     

 

 

  
        5,718,090  
Building Products — 1.1%  

CPG International, Inc., 2017 Term Loan, (3 mo. LIBOR + 3.75%, 1.00% Floor), 5.93%, 05/05/24

       1,416       1,397,489  

LSF10 XL Bidco SCA, EUR Term Loan B3, (3 mo. EURIBOR + 4.00%), 4.00%, 10/31/26

     EUR       1,000       1,069,782  
Security          Par
(000)		     Value  
Building Products (continued)  

Wilsonart LLC, 2017 Term Loan B, 12/19/23(f)

     USD       3,430     $ 3,390,394  
     

 

 

  
        5,857,665  
Capital Markets — 2.4%  

Duff & Phelps Corp., 2017 Term Loan B, 02/13/25(f)

       3,492       3,443,312  

Fortress Investment Group LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 3.70%, 12/27/22

       1,217       1,219,678  

Greenhill & Co., Inc., Term Loan B,
04/12/24(a)(f)

       1,533       1,479,007  

Jefferies Finance LLC, 2019 Term Loan, (3 mo. LIBOR + 3.75%), 5.56%, 06/03/26

       1,357       1,341,908  

RPI Finance Trust, Term Loan B6, (1 mo. LIBOR + 2.00%), 3.70%, 03/27/23

       2,342       2,355,263  

Travelport Finance (Luxembourg) Sarl:

      

2019 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%), 11.10%, 05/28/27(a)

       1,145       961,800  

2019 Term Loan, (3 mo. LIBOR + 5.00%), 7.10%, 05/29/26

       1,892       1,721,472  
     

 

 

  
        12,522,440  
Chemicals — 5.4%  

Alpha 3 BV, 2017 Term Loan B1, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.10%, 01/31/24

       4,250       4,194,860  

Axalta Coating Systems US Holdings, Inc., Term Loan, (3 mo. LIBOR + 1.75%), 3.85%, 06/01/24

       3,524       3,524,936  

Charter NEX US Holdings, Inc., 2017 Term Loan B, 05/16/24(f)

       3,204       3,164,213  

Charter NEX US, Inc., Incremental Term Loan, (1 mo. LIBOR + 3.50%), 5.20%, 05/16/24

       1,071       1,071,090  

Chemours Co., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 3.46%, 04/03/25

       1,012       958,015  

Element Materials Technology Group US Holdings, Inc., 2017 Term Loan B, (3 mo. LIBOR + 3.50%, 1.00% Floor), 5.60%, 06/28/24

       609       607,932  
 

 

 

2   

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Chemicals (continued)  

Encapsys LLC, 1st Lien Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.20%, 11/07/24

     USD       1,262     $ 1,263,764  

Invictus US LLC:

      

1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 4.93%, 03/28/25

       1,623       1,603,836  

2nd Lien Term Loan, (3 mo. LIBOR + 6.75%), 8.68%, 03/30/26

       430       398,468  

Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 4.60%, 03/01/26

       2,898       2,903,413  

Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 4.96%, 05/15/24

       1,062       1,048,400  

Oxea Holding Drei GmbH, 2017 Term Loan B2, (3 mo. LIBOR + 3.50%), 5.56%, 10/14/24

       3,616       3,614,071  

Plaskolite LLC, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.97%, 12/15/25

       834       769,544  

PQ Corp., 2018 Term Loan B, (3 mo. LIBOR + 2.50%), 4.43%, 02/08/25

       2,308       2,312,274  

Tata Chemicals North America, Inc., Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 4.88%, 08/07/20

       422       420,408  
     

 

 

  
        27,855,224  
Commercial Services & Supplies — 6.2%  

Advanced Disposal Services, Inc., Term Loan B3, (1 Week LIBOR + 2.25%), 3.85%, 11/10/23

       3,115       3,119,864  

Aramark Services, Inc., 2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 3.45%, 03/11/25

       274       274,341  

Asurion LLC:

      

2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 8.20%, 08/04/25

       1,882       1,895,532  

2017 Term Loan B4, (1 mo. LIBOR + 3.00%), 4.70%, 08/04/22

       1,579       1,581,254  

2018 Term Loan B6, (1 mo. LIBOR + 3.00%), 4.70%, 11/03/23

       2,959       2,961,748  

2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 4.70%, 11/03/24

       1,165       1,166,159  

Creative Artists Agency LLC, 2019 Term Loan B, 11/27/26(f)

       3,199       3,197,656  

Diamond (BC) BV, Term Loan, 09/06/24(f)

       2,521       2,391,182  

EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 5.85%, 05/09/25

       577       541,135  
Security          Par
(000)		     Value  
Commercial Services & Supplies (continued)  

GFL Environmental, Inc., 2018 USD Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.70%, 05/30/25

     USD       1,564     $ 1,546,535  

Harland Clarke Holdings Corp., Term Loan B7, (3 mo. LIBOR + 4.75%, 1.00% Floor), 6.85%, 11/03/23

       477       362,103  

KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), 4.00%, 09/19/26

       1,008       1,012,780  

Prime Security Services Borrower LLC, 2019 Term Loan B1, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.03%, 09/23/26

       2,441       2,413,404  

US Ecology, Inc., Term Loan B, 08/14/26(a)(f)

       408       410,550  

Verisure Holding AB, EUR Term Loan B1E, (3 mo. EURIBOR + 3.00%), 3.00%, 10/20/22

     EUR       1,000       1,100,753  

Verscend Holding Corp., 2018 Term Loan B, (1 mo. LIBOR + 4.50%), 6.20%, 08/27/25

     USD       5,492       5,495,909  

West Corp., 2017 Term Loan, (1 mo. LIBOR + 4.00%, 1.00% Floor), 5.70%, 10/10/24

       3,246       2,616,953  
     

 

 

  
        32,087,858  
Communications Equipment — 0.6%  

Avantor, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.70%, 11/21/24

       1,561       1,571,601  

Ciena Corp., 2018 Term Loan B, (3 mo. LIBOR + 1.00%), 5.75%, 09/26/25

       1,319       1,322,535  
     

 

 

  
        2,894,136  
Construction & Engineering — 1.4%  

AECOM, Term Loan B, (1 mo. LIBOR + 1.75%), 3.45%, 03/13/25

       703       703,639  

Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, 06/21/24(f)

       2,948       2,882,304  

Ply Gem Midco, Inc., 2018 Term Loan, (1 mo. LIBOR + 3.75%), 5.51%, 04/12/25

       450       444,245  

SRS Distribution, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.95%, 05/23/25

       2,260       2,217,206  

USIC Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.95%, 12/08/23

       906       893,412  
     

 

 

  
        7,140,806  
 

 

 

     3  

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Construction Materials — 2.6%  

American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 3.70%, 01/15/27

     USD       3,283     $ 3,275,863  

Core & Main LP, 2017 Term Loan B,
08/01/24(f)

       5,003       4,931,581  

Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.70%, 03/29/25

       3,108       3,112,024  

Forterra Finance LLC, 2017 Term Loan B, 10/25/23(f)

       830       797,149  

Foundation Building Materials LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 4.70%, 08/13/25(a)

       806       808,960  

Tamko Building Products, Inc., Term Loan B, (3 mo. LIBOR + 3.25%), 5.16%, 06/01/26(a)

       731       734,137  
     

 

 

  
        13,659,714  
Containers & Packaging — 2.6%  

Berry Global, Inc.:

      

Term Loan W, (3 mo. LIBOR + 2.00%), 3.76%, 10/01/22

       4,782       4,796,031  

USD Term Loan U, (1 mo. LIBOR + 2.50%), 4.26%, 07/01/26

       2,633       2,644,091  

BWAY Holding Co., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 5.23% 04/03/24

       2,784       2,727,927  

Flex Acquisition Co., Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 5.10%, 12/29/23

       2,658       2,575,202  

Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 5.70%, 07/31/26

       836       818,235  
     

 

 

  
        13,561,486  
Distributors — 0.4%  

TriMark USA LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.21%, 08/28/24

       2,768       2,205,761  
     

 

 

  
Diversified Consumer Services — 4.2%  

Ascend Learning LLC, 2017 Term Loan B, 07/12/24(f)

       1,585       1,584,507  

BidFair MergerRight, Inc., Term Loan B, 01/15/27(f)

       2,484       2,416,681  

Bright Horizons Family Solutions, Inc., 2017 Term Loan B, (1 mo. LIBOR + 1.75%), 3.45%, 11/07/23

       2,881       2,882,806  

Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.45%, 07/12/25

       1,728       1,663,181  

J.D. Power and Associates, 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.45%, 09/07/23

       1,379       1,378,588  
Security          Par
(000)		     Value  
Diversified Consumer Services (continued)  

Nomad Foods Europe Midco Ltd., 2017 Term Loan B4, (1 mo. LIBOR + 2.25%), 4.02%, 05/15/24

     USD       1,154     $ 1,153,878  

Serta Simmons Bedding LLC, 1.00% Floor):

      

1st Lien Term Loan, (1 mo. LIBOR + 3.50%, 5.27%, 11/08/23

       945       551,091  

2nd Lien Term Loan, (1 mo. LIBOR + 8.00%, 9.72%, 11/08/24

       126       35,907  

Spin Holdco, Inc., 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.25%, 11/14/22

       4,720       4,602,080  

TruGreen LP, 2019 Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.45%, 03/19/26

       2,247       2,251,534  

Uber Technologies, Inc., 2018 Incremental Term Loan, (1 mo. LIBOR + 3.50%), 5.20%, 07/13/23

       3,454       3,365,337  
     

 

 

  
        21,885,590  
Diversified Financial Services — 4.6%  

Advisor Group, Inc., 2019 Term Loan, (1 mo. LIBOR + 5.00%), 6.70%, 07/31/26

       2,031       1,928,820  

AlixPartners LLP, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.45%, 04/04/24

       4,269       4,285,468  

Allsup’s Convenience Stores, Inc., Term Loan, 11/18/24(a)(f)

       1,077       1,047,821  

Connect Finco Sarl, Term Loan B, 09/23/26(f)

       11,017       10,959,161  

CRCI Longhorn Holdings, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.28%, 08/08/25(a)

       479       453,097  

EG Finco Ltd., 2018 Term Loan, (3 mo. LIBOR + 4.00%), 6.10%, 02/07/25

       1,175       1,142,024  

Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.20%, 07/03/24

       1,920       1,917,555  

LTI Holdings, Inc., 2018 Add On 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 5.20%, 09/06/25

       579       492,714  

SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 7.75%, 07/30/25

       1,115       1,104,611  
 

 

 

4   

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

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

Starwood Property Trust, Inc., 2019 Term Loan B, (1 mo. LIBOR + 2.50%), 4.20%, 07/27/26(a)

     USD       608     $ 610,280  
     

 

 

  
        23,941,551  
Diversified Telecommunication Services — 3.0%  

CenturyLink, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%), 4.45%, 01/31/25

       1,871       1,869,891  

Consolidated Communications, Inc., 2016 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.71%, 10/04/23

       173       159,982  

Hargray Communications Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.70%, 05/16/24

       1,165       1,163,102  

Iridium Satellite LLC, Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.45%, 10/17/26

       1,132       1,142,618  

Level 3 Financing, Inc., 2019 Term Loan B, 03/01/27(f)

       1,931       1,929,649  

MTN Infrastructure TopCo, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.70%, 11/15/24

       2,219       2,211,095  

TDC A/S, Term Loan, (1 mo. EURIBOR + 2.75%), 2.75%, 06/04/25

     EUR       819       905,182  

Telenet Financing USD LLC, Term Loan AN, (1 mo. LIBOR + 2.25%), 4.02%, 08/15/26

     USD       1,367       1,365,382  

Telesat Canada, Term Loan B4, (3 mo. LIBOR + 2.50%), 4.61%, 11/17/23

       806       805,648  

Virgin Media Investment Holdings Ltd., Term Loan L, (1 mo. LIBOR — GBP + 3.25%), 3.96%, 01/15/27

     GBP       1,000       1,288,941  

Zayo Group LLC:

      

2017 Incremental Term Loan, (1 mo. LIBOR + 2.25%, 1.00% Floor), 3.95%, 01/19/24

     USD       290       290,363  

2017 Term Loan B1, (1 mo. LIBOR + 2.00%), 3.70%, 01/19/21

       2,341       2,341,999  
     

 

 

  
        15,473,852  
Electric Utilities — 0.4%  

Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc., Term Loan, 1.00%, 11/10/20(a)(b)(d)

       1,710       —  

Vistra Energy Corp., 1st Lien Term Loan B3, (1 mo. LIBOR + 1.75%), 3.52%, 12/31/25

       1,836       1,840,886  
     

 

 

  
        1,840,886  
Security          Par
(000)		     Value  
Electrical Equipment — 1.2%  

Dell International LLC, 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 3.71%, 09/19/25

     USD       2,594     $ 2,606,910  

Gates Global LLC, 2017 Repriced Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.45%, 04/01/24

       3,828       3,814,575  
     

 

 

  
        6,421,485  
Energy Equipment & Services — 0.5%  

GrafTech Finance, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.20%, 02/12/25(a)

       1,792       1,747,579  

Pioneer Energy Services Corp., Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 9.45%, 11/08/22(a)

       845       811,200  
     

 

 

  
        2,558,779  
Equity Real Estate Investment Trusts (REITs) — 2.3%  

Claros Mortgage Trust, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 5.01%, 08/10/26(a)

       1,614       1,614,000  

Iron Mountain, Inc., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 3.45%, 01/02/26(a)

       1,161       1,152,541  

MGM Growth Properties Operating Partnership LP, 2016 Term Loan B, (1 mo. LIBOR + 2.00%), 3.70%, 03/21/25

       2,942       2,947,676  

RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 3.71%, 05/11/24

       1,062       1,063,958  

VICI Properties 1 LLC, Replacement Term Loan B, (1 mo. LIBOR + 2.00%), 3.72%, 12/20/24

       5,381       5,397,200  
     

 

 

  
        12,175,375  
Food & Staples Retailing — 1.7%  

Albertsons LLC:

      

2019 Term Loan B7, (1 mo. LIBOR + 2.75%), 4.45%, 11/17/25

       444       447,054  

2019 Term Loan B8, (1 mo. LIBOR + 2.75%), 4.45%, 08/17/26

       12       11,621  

BCPE Empire Holdings, Inc.:

      

2019 Delayed Draw Term Loan, (1 mo. LIBOR + 4.00%), 5.70%, 06/11/26

       210       26,389  

2019 Term Loan B, (1 mo. LIBOR + 4.00%), 5.70%, 06/11/26

       1,065       1,055,555  

Hearthside Food Solutions LLC:

      

2018 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 5.70%, 05/23/25

       1,878       1,750,119  

2018 Term Loan B, (1 mo. LIBOR + 3.69%), 5.39%, 05/23/25

       578       535,616  
 

 

 

     5  

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Food & Staples Retailing (continued)  

US Foods, Inc.:

      

2016 Term Loan B, (1 mo. LIBOR + 2.00%), 3.70%, 06/27/23

     USD       2,660     $ 2,662,483  

2019 Term Loan B, (1 mo. LIBOR + 2.00%), 3.70%, 09/13/26

       2,563       2,566,844  
     

 

 

  
        9,055,681  
Food Products — 2.7%  

8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.51%, 10/01/25

       570       570,168  

Chobani LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.20%, 10/10/23

       4,265       4,207,103  

JBS USA LUX SA, 2019 Term Loan B, (1 mo. LIBOR + 2.50%), 4.20%, 05/01/26

       2,294       2,303,304  

Reynolds Group Holdings, Inc., 2017 Term Loan, (1 mo. LIBOR + 2.75%), 4.45%, 02/05/23

       6,912       6,921,012  
     

 

 

  
        14,001,587  
Gas Utilities — 0.1%  

AL Midcoast Holdings LLC, 2018 Term Loan B, (3 mo. LIBOR + 5.50%), 7.60%, 07/31/25

       691       668,231  
     

 

 

  
Health Care Equipment & Supplies — 2.0%  

Immucor, Inc., Extended Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.10%, 06/15/21

       4,707       4,675,877  

Mallinckrodt International Finance SA, Term Loan B, (3 mo. LIBOR + 2.75%), 4.85%, 09/24/24

       801       626,093  

Ortho-Clinical Diagnostics SA, 2018 Term Loan B, 06/30/25(f)

       5,168       5,094,921  
     

 

 

  
        10,396,891  
Health Care Providers & Services — 7.7%  

AHP Health Partners, Inc., 2018 Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.20%, 06/30/25

       818       817,993  

CHG Healthcare Services, Inc., 2017 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.70%, 06/07/23

       2,661       2,663,799  

Concentra, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 2.50%), 4.54%, 06/01/22

       795       794,314  

DentalCorp Perfect Smile ULC, 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.45%, 06/06/25

       798       779,143  
Security          Par
(000)		     Value  
Health Care Providers & Services (continued)  

Diplomat Pharmacy, Inc., 2017 Term Loan B, (3 mo. LIBOR + 4.50%, 1.00% Floor), 6.41%, 12/20/24

     USD       846     $ 736,303  

DuPage Medical Group Ltd., 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 8.70%, 08/15/25

       395       382,162  

Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.45%, 10/10/25

       2,202       1,725,602  

Explorer Holdings, Inc., 2016 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 5.85%, 05/02/23

       1,055       1,051,497  

Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 6.63%, 03/05/26(a)

       609       585,094  

Gentiva Health Services, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.50%, 07/02/25

       2,345       2,352,559  

HC Group Holdings II, Inc., Term Loan B, (1 mo. LIBOR + 4.50%), 6.20%, 08/06/26

       1,266       1,241,731  

HCA, Inc.:

      

Term Loan B12, (1 mo. LIBOR + 1.75%), 3.45%, 03/13/25

       1,349       1,354,699  

Term Loan B13, (1 mo. LIBOR + 1.75%), 3.45%, 03/18/26

       1,783       1,788,699  

MPH Acquisition Holdings LLC, 2016 Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 4.85%, 06/07/23

       2,445       2,335,826  

nThrive, Inc., 2016 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.20%, 10/20/22

       2,499       2,011,530  

NVA Holdings, Inc., Term Loan B3, (3 mo. LIBOR + 1.75%), 6.50%, 02/02/25

       2,031       2,028,728  

Sotera Health Holdings LLC:

      

2017 Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.93%, 05/15/22

       3,429       3,406,127  

2019 Incremental Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 5.43%, 05/15/22

       1,197       1,192,009  

2019 Term Loan, 11/20/26(a)(f)

       9,792       9,767,925  

Team Health Holdings, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.45%, 02/06/24

       1,544       1,083,937  

Vizient, Inc., 2019 Term Loan B5, (1 mo. LIBOR + 2.75%), 4.45%, 05/06/26

       869       869,169  
 

 

 

6   

Schedule of Investments  (unaudited) (continued)

November 30, 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)  

Zotec Partners LLC, 2018 Term Loan, (1 mo. LIBOR + 5.00%, 1.00% Floor), 6.71%, 02/14/24(a)

     USD       1,194     $ 1,193,500  
     

 

 

  
    40,162,346  
Health Care Services — 0.7%  

Emerald TopCo., Inc., Term Loan, 07/24/26(f)

       1,896       1,886,179  

WP CityMD Bidco LLC, 2019 Term Loan B, 08/13/26(f)

       1,915       1,895,850  
     

 

 

  
    3,782,029  
Health Care Technology — 2.0%  

Athenahealth, Inc., 2019 Term Loan B, (3 mo. LIBOR + 4.50%), 6.40%, 02/11/26

       5,043       5,031,309  

Change Healthcare Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.50%, 1.00% Floor), 4.20%, 03/01/24

       3,719       3,715,876  

GoodRx, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 4.50%, 10/10/25

       1,062       1,059,849  

Quintiles IMS, Inc., 2017 Term Loan B, (3 mo. LIBOR + 2.00%), 4.10%, 03/07/24

       499       501,227  
     

 

 

  
    10,308,261  
Hotels, Restaurants & Leisure — 9.4%  

1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 3.45%, 11/19/26

       4,397       4,394,620  

Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 5.46%, 02/02/26(a)

       436       438,499  

Aristocrat Technologies, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 1.75%), 3.72%, 10/19/24

       1,396       1,400,536  

Boyd Gaming Corp., Term Loan B3, (1 Week LIBOR + 2.25%), 3.85%, 09/15/23

       1,565       1,567,883  

Caesars Resort Collection LLC, 2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 4.45%, 12/23/24

       4,883       4,843,355  

CCM Merger, Inc., Term Loan B, (1 mo. LIBOR + 2.25%), 3.95%, 08/08/21

       1,345       1,343,354  

Four Seasons Hotels Ltd., 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 3.70%, 11/30/23

       3,105       3,118,771  

Gateway Casinos & Entertainment Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 5.10%, 03/13/25

       148       145,996  
Security          Par
(000)		     Value  
Hotels, Restaurants & Leisure (continued)  

Golden Nugget LLC, 2017 Incremental Term Loan B, (1 mo. LIBOR + 2.75%), 4.45%, 10/04/23

     USD       1,911     $ 1,909,822  

Hilton Worldwide Finance LLC, 2019 Term Loan B2, (1 mo. LIBOR + 1.75%), 3.46%, 06/22/26

       2,950       2,962,681  

IRB Holding Corp., 1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.22%, 02/05/25

       3,753       3,751,519  

KFC Holding Co., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 3.51%, 04/03/25

       1,412       1,414,686  

Penn National Gaming, Inc., 2018 1st Lien Term Loan B, (1 mo. LIBOR + 2.25%), 3.95%, 10/15/25

       600       602,372  

Playa Resorts Holding BV, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.45%, 04/29/24

       1,131       1,101,688  

Sabre GLBL, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 3.70%, 02/22/24

       2,822       2,828,667  

Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 4.45%, 08/14/24

       3,197       3,180,561  

Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 3.50%), 5.60%, 07/10/25

       5,315       5,335,559  

Station Casinos LLC, 2016 Term Loan B, (1 mo. LIBOR + 2.50%), 4.21%, 06/08/23

       2,950       2,954,203  

Tackle Sarl, 2017 EUR Term Loan, (3 mo. EURIBOR + 3.75%), 3.75%, 08/08/22

     EUR       1,000       1,103,871  

Whatabrands LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 5.03%, 08/02/26

     USD       2,633       2,640,688  

Wyndham Hotels & Resorts, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 3.45%, 05/30/25

       1,569       1,575,474  
     

 

 

  
    48,614,805  
Independent Power and Renewable Electricity Producers — 0.9%  

AES Corp., 2018 Term Loan B, (3 mo. LIBOR + 1.75%), 3.66%, 05/31/22

       39       38,601  

Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.50%), 4.20%, 01/15/25

       238       238,719  

Calpine Corp. 2019 Term Loan B10, (1 mo. LIBOR + 2.50%), 4.20%, 08/12/26

       726       728,093  
 

 

 

     7  

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Independent Power and Renewable Electricity Producers (continued)  

Calpine Corp. Term Loan B9, (3 mo. LIBOR + 2.75%), 4.86%, 04/05/26

     USD       3,684     $ 3,694,740  
     

 

 

  
        4,700,153  
Industrial Conglomerates — 1.7%  

Cortes NP Acquisition Corp., 2017 Term Loan B, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.93%, 11/30/23(a)

       5,071       4,950,126  

Sequa Mezzanine Holdings LLC, 1st Lien Term Loan, (2 mo. LIBOR + 5.00%, 1.00% Floor), 6.82%, 11/28/21

       1,594       1,589,959  

Sundyne US Purchaser, Inc., Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 5.70%, 05/15/26

       2,200       2,198,636  
     

 

 

  
        8,738,721  
Insurance — 4.5%  

Alliant Holdings I, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 4.70%, 05/09/25

       3,617       3,576,179  

Alliant Holdings Intermediate LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 5.02%, 05/09/25

       1,047       1,041,447  

AmWINS Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.52%, 01/25/24

       2,602       2,607,386  

AssuredPartners, Inc., 2017 1st Lien Add-On Term Loan, (1 mo. LIBOR + 3.50%), 5.20%, 10/22/24

       2,883       2,870,180  

Davis Vision, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.70%, 12/02/24

       1,819       1,795,875  

Hub International Ltd.:

      

2018 Term Loan B, (3 mo. LIBOR + 2.75%), 4.69%, 04/25/25

       3,406       3,356,959  

2019 Incremental Term Loan B, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.90%, 04/25/25

       1,548       1,551,158  

Sedgwick Claims Management Services, Inc.:

      

2019 Term Loan B, (1 mo. LIBOR + 4.00%), 5.70%, 09/03/26

       1,823       1,818,866  

Term Loan B, (1 mo. LIBOR + 3.25%), 4.95%, 12/31/25

       4,951       4,859,019  
     

 

 

  
        23,477,069  
Interactive Media & Services — 0.7%  

Ancestry.com Operations, Inc., Non-Extended Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.46%, 10/19/23

       1,355       1,304,188  
Security          Par
(000)		     Value  
Interactive Media & Services (continued)  

Rackspace Hosting, Inc., 2017 Incremental 1st Lien Term Loan, (2 mo. LIBOR + 3.00%, 1.00% Floor), 4.84%, 11/03/23

     USD       1,343     $ 1,258,016  

TierPoint LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 5.45%, 05/06/24

       1,230       1,152,600  
     

 

 

  
        3,714,804  
IT Services — 3.5%  

Altran Technologies SA, 1st Lien Term Loan, (3 mo. LIBOR + 2.50%), 4.66%, 03/20/25

       670       669,800  

Camelot U.S. Acquisition 1 Co., Term Loan B, (1 mo. LIBOR + 3.25%), 4.95%, 10/31/26

       2,717       2,725,151  

Epicor Software Corp., 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.96%, 06/01/22

       2,608       2,608,195  

Evertec Group LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 5.29%, 11/27/24

       916       920,658  

Flexential Intermediate Corp., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 1.00% Floor), 9.38%, 08/01/25

       975       604,500  

Greeneden US Holdings II LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.95%, 12/01/23

       1,609       1,601,480  

Trans Union LLC, 2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 3.45%, 11/16/26

       4,244       4,245,889  

WEX, Inc., Term Loan B3, (1 mo. LIBOR + 2.25%), 3.95%, 05/15/26

       4,630       4,643,685  
     

 

 

  
        18,019,358  
Leisure Products — 0.2%  

MND Holdings III Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 5.60%, 06/19/24(a)

       1,013       977,533  
     

 

 

  
Life Sciences Tools & Services — 0.7%  

Albany Molecular Research, Inc., 1.00% Floor):

      

2017 1st Lien Term Loan, 08/30/24(f)

       994       981,200  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%, 8.70%, 08/30/25

       395       392,780  
 

 

 

8   

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Life Sciences Tools & Services (continued)  

eResearchTechnology, Inc., 2019 Term Loan, 11/20/26(f)

     USD       2,155     $ 2,138,838  
     

 

 

  
        3,512,818  
Machinery — 1.9%  

Clark Equipment Company, 2019 Term Loan B, 05/18/24(f)

       599       599,002  

Columbus McKinnon Corp., 2018 Term Loan B, (3 mo. LIBOR + 2.50%, 1.00% Floor), 4.60%, 01/31/24(a)

       144       144,975  

Gardner Denver, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%), 4.45%, 07/30/24

       2,278       2,284,571  

Terex Corp., 2019 Term Loan B1, (2 mo. LIBOR + 2.75%), 4.59%, 01/31/24

       323       324,452  

Titan Acquisition Ltd., 2018 Term Loan B, 03/28/25(f)

       5,617       5,368,066  

Welbilt, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.50%), 4.20%, 10/23/25(a)

       993       993,991  
     

 

 

  
        9,715,057  
Media — 10.5%  

Altice Financing SA:

      

2017 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 4.47%, 01/31/26

       708       689,480  

2017 Term Loan B, (1 mo. LIBOR + 2.75%), 4.52%, 07/15/25

       241       234,867  

Altice France SA:

      

2018 Term Loan B13, (1 mo. LIBOR + 4.00%), 5.77%, 08/14/26

       3,573       3,542,848  

USD Term Loan B12, (1 mo. LIBOR + 3.69%), 5.45%, 01/31/26

       534       527,199  

Charter Communications Operating LLC, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 3.45%, 04/30/25

       4,407       4,426,048  

Clear Channel Outdoor Holdings, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 5.20%, 08/21/26

       7,247       7,266,422  

CSC Holdings LLC:

      

2017 1st Lien Term Loan, (1 mo. LIBOR + 2.25%), 4.02%, 07/17/25

       1,345       1,339,865  

2019 Term Loan B5, (2 mo. LIBOR + 2.50%), 4.33%, 04/15/27

       1,674       1,674,231  

Diamond Sports Group LLC, Term Loan, (1 mo. LIBOR + 3.25%), 4.96%, 08/24/26

       1,870       1,863,567  
Security          Par
(000)		     Value  
Media (continued)  

Gray Television, Inc.:

      

2017 Term Loan B, (1 mo. LIBOR + 2.25%), 4.03%, 02/07/24

     USD       607     $ 607,660  

2018 Term Loan C, (1 mo. LIBOR + 2.50%), 4.28%, 01/02/26

       890       892,142  

iHeartCommunications, Inc., Exit Term Loan, (1 mo. LIBOR + 4.00%), 5.78%, 05/01/26

       2,715       2,730,917  

Intelsat Jackson Holdings SA, 2017 Term Loan B3, 11/27/23(f)

       790       777,163  

Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.96%, 12/01/23

       2,483       2,487,766  

Liberty Latin America Ltd., Term Loan B, (1 mo. LIBOR + 5.00%), 6.77%, 10/22/26

       1,291       1,301,005  

Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 3.95%, 03/24/25

       1,517       1,476,243  

MCC Iowa LLC, Term Loan N, (1 Week LIBOR + 1.75%), 3.34%, 02/15/24(a)

       1,065       1,068,809  

MH Sub I LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 5.45%, 09/13/24

       2,231       2,222,550  

Midcontinent Communications, 2019 Term Loan B, (1 mo. LIBOR + 2.25%), 4.01%, 08/15/26

       740       744,446  

Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.75%), 4.45%, 09/18/26

       1,558       1,563,843  

PCI Gaming Authority, Term Loan, (1 mo. LIBOR + 3.00%), 4.70%, 05/29/26

       1,491       1,498,306  

PSAV Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 5.03%, 03/03/25

       3,107       3,012,701  

Radiate Holdco LLC, 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.70%, 02/01/24

       2,063       2,047,565  

Sinclair Television Group, Inc., Term Loan B2, (1 mo. LIBOR + 2.25%), 3.96%, 01/03/24

       191       191,024  

Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.70%, 09/28/23(a)

       3,761       3,737,320  

Univision Communications, Inc., Term Loan C5, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.45%, 03/15/24

       1,151       1,125,887  

William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 4.46%, 05/18/25

       2,983       2,929,204  
 

 

 

     9  

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Media (continued)  

Ziggo Secured Finance Partnership, Term Loan E, (1 mo. LIBOR + 2.50%), 4.27%, 04/15/25

     USD       2,392     $ 2,387,200  
     

 

 

  
        54,366,278  
Metals & Mining — 0.9%  

Ball Metalpack LLC, 2018 1st Lien Term Loan B, 07/31/25(f)

       1,456       1,235,463  

Equinox Holdings, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.70%, 03/08/24

       3,398       3,385,326  
     

 

 

  
        4,620,789  
Multiline Retail — 0.3%  

Eyemart Express LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.75%, 08/04/24

       965       962,887  

Neiman Marcus Group Ltd. LLC, Cash Pay Extended Term Loan, (1 mo. LIBOR + 6.00%), 7.77%, 10/25/23

       963       709,278  
     

 

 

  
        1,672,165  
Oil & Gas Equipment & Services — 0.4%  

McDermott Technology Americas, Inc.:

      

2018 1st Lien Term Loan, 10/21/21(f)

       1,182       1,189,571  

2018 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 1.00% Floor), 7.10%, 05/09/25

       1,722       824,509  
     

 

 

  
        2,014,080  
Oil, Gas & Consumable Fuels — 0.7%  

California Resources Corp., Second Out Term Loan, (1 mo. LIBOR + 10.38%, 1.00% Floor), 12.08%, 12/31/21

       1,737       1,003,706  

CONSOL Energy, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor), 6.21%, 09/27/24

       805       735,267  

Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 5.45%, 12/13/25

       1,304       1,233,967  

EG Group Ltd., 2018 Term Loan B, (3 mo. LIBOR + 4.00%), 6.10%, 02/07/25

       793       770,953  
     

 

 

  
        3,743,893  
Personal Products — 0.5%  

Sunshine Luxembourg VII Sarl, USD 1st Lien Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 6.35%, 10/01/26

       2,826       2,833,140  
     

 

 

  
Security          Par
(000)		     Value  
Pharmaceuticals — 4.4%  

Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 5.25%, 05/04/25

     USD       1,519     $ 1,165,507  

Catalent Pharma Solutions, Inc., Term Loan B2, (1 mo. LIBOR + 2.25%, 1.00% Floor), 3.95%, 05/18/26

       2,076       2,076,588  

Endo Luxembourg Finance Co. I Sarl, 2017 Term Loan B, (1 mo. LIBOR + 4.25%), 6.00%, 04/29/24

       1,595       1,466,611  

Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 Week LIBOR + 2.00%), 3.77%, 11/15/27

       2,769       2,783,506  

Jaguar Holding Co. II, 2018 Term Loan, (1 mo. LIBOR + 2.50%, 1.00% Floor), 4.20%, 08/18/22

       7,625       7,631,593  

Valeant Pharmaceuticals International, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 4.77%, 06/02/25

       7,791       7,822,353  
     

 

 

  
        22,946,158  
Professional Services — 1.6%  

ASGN, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 3.45%, 04/02/25

       732       732,527  

Cast and Crew Payroll LLC, 2019 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 5.71%, 02/09/26

       2,071       2,077,076  

Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 5.00%), 6.70%, 02/06/26

       4,149       4,169,745  

SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 5.50%), 7.20%, 08/04/25(a)

       1,283       1,234,484  
     

 

 

  
        8,213,832  
Real Estate Management & Development — 2.4%  

CityCenter Holdings LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 3.95%, 04/18/24

       4,661       4,666,988  

DTZ US Borrower LLC, 2018 Add On Term Loan B, (1 mo. LIBOR + 3.25%), 4.95%, 08/21/25

       3,119       3,122,475  

ESH Hospitality, Inc., 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 3.70%, 09/18/26

       777       777,967  

Forest City Enterprises LP, 2019 Term Loan B, (1 mo. LIBOR + 3.50%), 5.20%, 12/08/25

       2,096       2,100,101  

Realogy Corp., 2018 Term Loan B, (3 mo. LIBOR + 2.25%), 3.96%, 02/08/25

       782       753,887  
 

 

 

10   

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Real Estate Management & Development (continued)  

SMG Holdings, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 4.70%, 01/23/25

     USD       1,195     $ 1,194,676  
     

 

 

  
        12,616,094  
Road & Rail — 0.3%  

Moda Ingleside Energy Center LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 4.95%, 09/29/25

       735       734,891  

Road Infrastructure Investment LLC, 2016 1st Lien Term Loan, 06/13/23(f)

       853       783,783  
     

 

 

  
        1,518,674  
Semiconductors & Semiconductor Equipment — 0.3%  

Microchip Technology, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 3.71%, 05/29/25

       857       856,078  

ON Semiconductor Corp., 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 3.70%, 09/19/26

       641       643,717  
     

 

 

  
        1,499,795  
Software — 17.9%  

Applied Systems, Inc., 1.00% Floor):

      

2017 1st Lien Term Loan, 09/19/24(f)

       3,254       3,239,450  

2017 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%, 9.10%, 09/19/25

       491       498,347  

BMC Software Finance, Inc., 2017 Term Loan, (1 mo. LIBOR + 4.25%), 5.95%, 10/02/25

       2,970       2,854,546  

Cerence, Inc., Term Loan B, (1 mo. LIBOR + 6.00%, 1.00% Floor), 7.78%, 10/01/24

       863       809,062  

Cypress Intermediate Holdings III, Inc., 1.00% Floor):

      

2017 1st Lien Term Loan, 04/29/24(f)

       2,755       2,736,005  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 8.45%, 04/27/25

       814       812,575  

Digicel International Finance Ltd., 2017 Term Loan B, (6 mo. LIBOR + 3.25%), 5.34%, 05/28/24

       1,463       1,221,846  

DTI Holdco, Inc., 2018 Term Loan B, (3 mo. LIBOR + 4.75%, 1.00% Floor), 6.68%, 09/30/23

       1,420       1,308,542  

Ellie Mae, Inc., Term Loan, (2 mo. LIBOR + 4.00%), 5.86%, 04/17/26

       2,722       2,710,949  
Security          Par
(000)		     Value  
Software (continued)  

Financial & Risk US Holdings, Inc., 2018 USD Term Loan, (1 mo. LIBOR + 3.75%), 5.45%, 10/01/25

     USD       6,187     $ 6,222,604  

Infor (US), Inc., Term Loan B6, (3 mo. LIBOR + 2.75%, 1.00% Floor), 4.85%, 02/01/22

       7,159       7,166,068  

Informatica Corp., 2018 Term Loan, (1 mo. LIBOR + 3.25%), 4.95%, 08/05/22

       4,184       4,185,830  

Kronos, Inc., 1.00% Floor):

      

2017 Term Loan B, 11/01/23(f)

       6,262       6,256,969  

2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 10.16%, 11/01/24

       2,135       2,154,343  

McAfee LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.75%), 5.45%, 09/30/24

       4,248       4,251,609  

Mitchell International, Inc.:

      

2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.95%, 11/29/24

       4,101       3,921,203  

2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 8.95%, 12/01/25

       850       786,250  

Renaissance Holding Corp., 2018 Add On Term Loan, (1 mo. LIBOR + 3.25%), 4.95%, 05/30/25

       696       681,393  

RP Crown Parent LLC, 2016 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 4.45%, 10/12/23

       3,126       3,125,087  

Severin Acquisition LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.25%), 5.14%, 08/01/25

       1,001       985,159  

SolarWinds Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.75%), 4.45%, 02/05/24

       4,653       4,666,553  

Solera LLC, Term Loan B, (1 mo. LIBOR + 2.75%), 4.45%, 03/03/23

       3,946       3,878,522  

Sophia LP, 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 5.35%, 09/30/22

       6,149       6,151,233  

SS&C Technologies Holdings Europe Sarl, 2018 Term Loan B4, (1 mo. LIBOR + 2.25%), 3.95%, 04/16/25

       1,591       1,598,032  

SS&C Technologies, Inc.:

      

2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 3.95%, 07/08/22

       95       95,664  

2018 Term Loan B3, (1 mo. LIBOR + 2.25%), 3.95%, 04/16/25

       2,443       2,454,474  

2018 Term Loan B5, (1 mo. LIBOR + 2.25%), 3.95%, 04/16/25

       1,561       1,568,306  

Tempo Acquisition LLC, Term Loan,
05/01/24(f)

       4,759       4,759,900  
 

 

 

     11  

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Par
(000)		     Value  
Software (continued)  

Tibco Software, Inc., 2019 Term Loan B, (1 mo. LIBOR + 4.00%), 5.78%, 06/30/26(a)

     USD       4,537     $  4,548,121  

Ultimate Software Group, Inc., Term Loan B, (1 mo. LIBOR + 3.75%), 5.45%, 05/04/26

       2,865       2,877,721  

Vertafore, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 4.95%, 07/02/25

       4,297       4,166,385  
   

 

 

  
        92,692,748  
Specialty Retail — 2.8%  

Belron Finance US LLC:

      

2019 USD Term Loan B, (3 mo. LIBOR + 2.50%), 4.44%, 11/07/26

       893       894,956  

Term Loan B, (3 mo. LIBOR + 2.25%), 4.14%, 11/07/24

       2,936       2,943,397  

Term Loan B, (3 mo. LIBOR + 2.25%), 4.15%, 11/13/25

       450       450,726  

CD&R Firefly Bidco Ltd., 2018 GBP Term Loan B1, (3 mo. LIBOR — GBP + 4.00%), 4.81%, 06/23/25

     GBP       1,000       1,273,745  

IAA, Inc., Term Loan B, (1 mo. LIBOR + 2.25%), 4.00%, 06/28/26

     USD       828       830,958  

Leslie’s Poolmart, Inc., 2018 Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 5.34%, 08/16/23

       761       711,749  

MED ParentCo LP:

      

1st Lien Delayed Draw Term Loan, (3 mo. LIBOR + 4.25%), 6.06%, 08/31/26

       330       69,855  

1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 5.95%, 08/31/26

       1,323       1,311,721  

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

       1,240       1,168,220  

PetSmart, Inc., Term Loan B2, 03/11/22(f)

       3,474       3,380,412  

Research Now Group, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 5.50%, 1.00% Floor), 7.41%, 12/20/24

       1,243       1,241,620  
   

 

 

  
        14,277,359  
Technology Hardware, Storage & Peripherals — 0.5%  

Western Digital Corp., 2018 Term Loan B4, (3 mo. LIBOR + 1.75%), 3.45%, 04/29/23

       2,795       2,785,645  
   

 

 

  
Security          Par
(000)		     Value  
Textiles, Apparel & Luxury Goods — 0.5%  

Ascend Performance Materials Operations LLC, 2019 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 7.35%, 08/27/26

     USD       2,598     $ 2,598,083  
   

 

 

  
Thrifts & Mortgage Finance — 0.7%  

IG Investment Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 4.00%, 1.00% Floor), 5.70%, 05/23/25

       3,707       3,649,885  
   

 

 

  
Trading Companies & Distributors — 1.0%  

Beacon Roofing Supply, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 3.95%, 01/02/25

       1,079       1,069,959  

HD Supply, Inc., Term Loan B5, (1 mo. LIBOR + 1.75%), 3.45%, 10/17/23

       3,829       3,845,382  

United Rentals, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 3.45%, 10/31/25

       225       225,613  
   

 

 

  
        5,140,954  
Transportation — 0.2%  

Safe Fleet Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.77%, 02/03/25

       819       780,755  
   

 

 

  
Utilities — 0.4%  

ExGen Renewables IV LLC, Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.91%, 11/28/24

       1,908       1,832,068  
   

 

 

  
Wireless Telecommunication Services — 1.2%  

Geo Group, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 3.71%, 03/22/24

       1,981       1,750,524  

Ligado Networks LLC, PIK Exit Term Loan (9.75% PIK), 0.00%, 12/07/20(g)

       554       327,874  

SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 3.46%, 04/11/25

       4,315       4,314,198  
   

 

 

  
        6,392,596  
   

 

 

  

Total Floating Rate Loan Interests — 135.8%
(Cost — $711,930,225)

 

     704,223,014  
   

 

 

  
            Shares         

Investment Companies — 6.3%

 

United States — 6.3%  

Invesco Senior Loan ETF

       1,455,000       32,679,300  
   

 

 

  

Total Investment Companies — 6.3%
(Cost — $32,930,760)

 

     32,679,300  
   

 

 

  
 

 

 

12   

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

(Percentages shown are based on Net Assets)

 

Security          Beneficial
Interest
(000)		     Value  

Other Interests(h) — 0.0%

 

IT Services — 0.0%  

Millennium Corp.(a)(b)

     USD  1,607     $ —  

Millennium Lender Claims(a)(b)

         1,508       —  
     

 

 

  

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

 

     —  
     

 

 

  
            Shares         

Warrants — 0.1%

 

Media — 0.1%  

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

       43,029       662,173  
     

 

 

  

Total Warrants — 0.1%
(Cost — $774,479)

 

     662,173  
     

 

 

  

Total Long-Term Investments — 143.5%
(Cost — $756,391,651)

 

     744,459,044  
     

 

 

  
Security              
    
Shares		     Value  
Short-Term Securities — 0.1%  

BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.53%(i)(j)

       275,444     $ 275,444  
     

 

 

  

Total Short-Term Securities — 0.1%
(Cost — $275,444)

 

     275,444  
     

 

 

  

Options Purchased — 0.0%
(Cost — $42,401)

 

     33,248  
     

 

 

  

Total Investments — 143.6%
(Cost — $756,709,496)

 

     744,767,736  

Liabilities in Excess of Other Assets — (43.6)%

 

     (225,991,597 ) 
     

 

 

  

Net Assets — 100.0%

 

   $ 518,776,139  
     

 

 

  
 
(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) 

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

(f) 

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.

(g) 

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

(h) 

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

(i) 

Annualized 7-day yield as of period end.

(j) 

During the period ended November 30, 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, and/or related parties of the Fund were as follows:

 

Affiliated Persons and/or Related Parties    Shares
Held at
08/31/19		     

Shares

Purchased

     

Shares

Sold

      Shares
Held at
11/30/19		      Value at
11/30/19		      Income      Net Realized
Gain (Loss) (a)		      Change in
Unrealized
Appreciation
(Depreciation)		  

BlackRock Liquidity Funds, T-Fund, Institutional Class(b)

      —        275,444        —        275,444      $ 275,444      $ 7,662      $ —      $  —  

iShares iBoxx USD High Yield Corporate Bond ETF(c)

      —        17,000        (17,000 )       —        —        —        2,169        —  
              

 

 

     

 

 

     

 

 

     

 

 

  
               $ 275,444      $ 7,662      $  2,169      $ —  
              

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a)

Includes net capital gain distributions, if applicable.

 
  (b) 

Represents net shares purchased (sold).

 
  (c)

As of period end, the entity is no longer held by the Fund.

 

For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

 

 

     13  

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

 

Currency Abbreviations

EUR — Euro

GBP — British Pound

USD — United States Dollar

Portfolio Abbreviations

ETF — Exchange-Traded Fund

LIBOR — London Interbank Offered Rate

S&P — Standard & Poor’s

SPDR — Standard & Poor’s Depository Receipts

 

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts

 

Currency
Purchased		        Currency
Sold		        Counterparty      Settlement Date        Unrealized
Appreciation
(Depreciation)		  
EUR     4,515,000        USD     4,968,712        Natwest Markets PLC        12/04/19        $ 6,210  
GBP     1,851,000        USD     2,385,651        Barclays Bank PLC        12/04/19          8,310  
USD     5,035,464        EUR     4,525,000        State Street Bank and Trust Co.        12/04/19          49,524  
                       

 

 

  
                          64,044  
                       

 

 

  
USD     2,391,504        GBP     1,854,000        State Street Bank and Trust Co.        12/04/19          (6,337 ) 
USD     4,991,016        EUR     4,515,000        Natwest Markets PLC        02/05/20          (6,445 ) 
USD     2,391,207        GBP     1,851,000        Barclays Bank PLC        02/05/20          (8,339 ) 
                       

 

 

  
                          (21,121 ) 
                       

 

 

  
    Net unrealized appreciation        $ 42,923  
                       

 

 

  

Exchange-Traded Options Purchased

 

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

SPDR S&P 500 ETF Trust

      165          12/31/19        USD     295.00        USD     5,186        $ 14,108  

SPDR S&P 500 ETF Trust

      165          12/31/19        USD     299.00        USD     5,186          19,140  
                          

 

 

  
                           $     33,248  
                          

 

 

  

 

 

14   

Schedule of Investments  (unaudited) (continued)

November 30, 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. 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 BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies 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 annual report.

The following table summarizes 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)

    $ 387,245        $ 89        $ 617,523        $ 1,004,857  

Corporate Bonds(a)

      —          5,014,345          875,355          5,889,700  

Floating Rate Loan Interests(a)

     —          660,797,601          43,425,413          704,223,014  

Investment Companies

     32,679,300          —          —          32,679,300  

Warrants

     —          662,173          —          662,173  

Short-Term Securities:

      275,444          —          —          275,444  

Options Purchased:

                  

Equity Contracts

      33,248          —          —          33,248  

Unfunded Floating Rate Loan Interest(b)

      —          2,763          —          2,763  

Liabilities:

                  

Investments:

                 

Unfunded Floating Rate Loan Interest(b)

      —          (4,047 )         —          (4,047 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 33,375,237        $ 666,472,924        $ 44,918,291        $ 744,766,452  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(c)

                  

Assets:

                 

Forward foreign currency contracts

   $ —        $ 64,044        $ —        $ 64,044  

Liabilities:

                 

Forward foreign currency contracts

     —          (21,121 )         —          (21,121 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ —        $ 42,923        $ —        $ 42,923  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

See above Schedule of Investments for values in each industry.

 

 

 

     15  

Schedule of Investments  (unaudited) (continued)

November 30, 2019

   

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

 

 

  (b) 

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

 
  (c) 

Derivative financial instruments are forward foreign currency exchange contracts. 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 for financial statement purposes. As of period end, bank borrowings payable of $206,000,000 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:

 

      Common
Stocks		      Corporate
Bonds		     

Floating

Rate Loan
Interests

      Total  

Assets:

            

Opening balance, as of August 31, 2019

    $ 564,703      $ 875,355      $ 24,982,577      $ 26,422,635  

Transfers into Level 3(a)

      —        —        14,329,432        14,329,432  

Transfers out of Level 3(b)

     —        —        (6,594,587 )       (6,594,587 ) 

Accrued discounts/premiums

      —        1,268        4,339        5,607  

Net realized gain (loss)

      —        2        (38,427 )       (38,425 ) 

Net change in unrealized appreciation (depreciation)(c)

      52,820        (1,268 )       286,582        338,134  

Purchases

      —        —        14,544,202        14,544,202  

Sales

      —        (2 )       (4,088,705 )       (4,088,707 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Closing balance, as of November 30, 2019

    $   617,523      $   875,355      $   43,425,413      $   44,918,291  
  

 

 

     

 

 

     

 

 

     

 

 

  

Net change in unrealized appreciation (depreciation) on investments still held at November 30, 2019(c)

    $ 52,820      $ (1,268 )     $ 254,385      $ 305,937  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a) 

As of August 31, 2019, the Fund used observable inputs in determining the value of certain investments. As of November 30, 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.

 
  (b) 

As of August 31, 2019, the Fund used significant unobservable inputs in determining the value of certain investments. As of November 30, 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.

 
  (c) 

Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at November 30, 2019 is generally due to investments no longer held or categorized as Level 3 at period end.

 

 

 

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