NPORT-EX 2 NPORT_D2I8_1431833743.htm

BlackRock Floating Rate Income Trust

Schedule of Investments  (unaudited) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Shares				Value
Common Stocks
Auto Components — 0.0%
Lear Corp.							89			$	16,131
Construction & Engineering — 0.0%
McDermott International Ltd.(a)							76,644				61,315
Energy Equipment & Services — 0.0%
Pioneer Energy Services Corp.(b)							546				3,167
Household Durables — 0.0%
Berkline Benchcraft Equity LLC(b)							6,155				—
Media — 0.0%
Clear Channel Outdoor Holdings, Inc.(a)							72,096				129,773
Metals & Mining — 0.0%
Ameriforge Group, Inc.							832				18,304
Preferred Proppants LLC(b)							7,476				449
											18,753
Oil, Gas & Consumable Fuels — 0.0%
California Resources Corp.(a)							1,252				30,123
Software — 0.0%
Avaya Holdings Corp.(a)							40				1,121
Specialty Retail — 0.1%
NMG Parent LLC							2,218				156,369
Total Common Stocks — 0.1% (Cost: $2,784,924)											416,752
						Par (000)
Corporate Bonds
Aerospace & Defense — 0.1%
TransDigm, Inc., 8.00%, 12/15/25(c)			USD				198				215,622
Airlines — 1.6%
Allegiant Travel Co., 8.50%, 02/05/24(c)							740				799,200
American Airlines, Inc., 11.75%, 07/15/25(c)							267				330,276
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 04/20/26(c)							347				361,120
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(c)							1,507				1,652,049
United Airlines Pass-Through Trust, Series 2020-1, Class A, 5.88%, 10/15/27							1,435				1,591,461
											4,734,106
Auto Components — 0.1%
Clarios Global LP, 6.75%, 05/15/25(c)							305				326,259
Automobiles — 0.9%
AutoNation, Inc., 4.75%, 06/01/30							87				100,316
Ford Motor Co., 8.50%, 04/21/23							1,256				1,400,440
Ford Motor Credit Co. LLC, 5.13%, 06/16/25							200				216,000
General Motors Co., 6.13%, 10/01/25							406				477,419
General Motors Financial Co., Inc., 2.75%, 06/20/25							569				593,981
Group 1 Automotive, Inc., 4.00%, 08/15/28(c)							105				104,344
											2,892,500

Security						Par (000)				Value
Beverages — 0.1%
Triton Water Holdings, Inc., 6.25%, 04/01/29(c)			USD				252			$	257,040
Building Materials(c) — 0.4%
SRM Escrow Issuer LLC, 6.00%, 11/01/28							1,130				1,184,240
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29							73				76,194
											1,260,434
Chemicals — 0.0%
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(c)							32				36,010
Construction Materials(c) — 0.4%
Core & Main LP, 6.13%, 08/15/25							140				143,688
Wolverine Escrow LLC, 9.00%, 11/15/26							950				949,097
											1,092,785
Consumer Finance — 0.1%
PayPal Holdings, Inc., 1.65%, 06/01/25							261				265,803
Containers & Packaging — 0.0%
Graham Packaging Co., Inc., 7.13%, 08/15/28(c)							72				76,590
Diversified Telecommunication Services(c) — 0.5%
Zayo Group Holdings, Inc.
4.00%, 03/01/27							1,233				1,211,422
6.13%, 03/01/28							175				179,594
											1,391,016
Electric Utilities — 0.0%
Pike Corp., 5.50%, 09/01/28(c)							89				90,558
Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc.(b)
11.50%, 10/01/20(c)							654				—
11.50%, 11/10/21							1,050				—
											90,558
Energy Equipment & Services(b)(c)(d) — 0.1%
Pioneer Energy Services Corp.
(11.00% Cash or 11.00% PIK), 11.00%, 05/15/25							221				220,334
(5.00% PIK), 5.00%, 11/15/25(e)							156				156,527
											376,861
Equity Real Estate Investment Trusts (REITs) — 0.0%
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., 4.63%, 06/15/25(c)							85				89,650
Hotels, Restaurants & Leisure — 0.1%
Marriott International, Inc., Series EE, 5.75%, 05/01/25							233				267,366
Household Products — 0.0%
Berkline Benchcraft LLC, 4.50%, 06/01/21(a)(b)(f)(g)							400				—
Internet Software & Services(c) — 0.2%
Expedia Group, Inc.
3.60%, 12/15/23							277				294,826
6.25%, 05/01/25							208				240,596
TripAdvisor, Inc., 7.00%, 07/15/25							48				51,912
Uber Technologies, Inc., 6.25%, 01/15/28							137				149,220
											736,554

SCHEDULE OF INVESTMENTS 1

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
IT Services(c) — 0.1%
Castle US Holding Corp., 9.50%, 02/15/28			USD				401			$	409,020
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 5.75%, 06/01/25							47				49,644
											458,664
Machinery — 0.2%
Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25(c)(d)							561				610,087
Media(c) — 0.5%
Liberty Broadband Corp., 2.75%, 09/30/50(e)							315				318,279
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(d)							111				111,033
Radiate Holdco LLC/Radiate Finance, Inc.
4.50%, 09/15/26							353				356,971
6.50%, 09/15/28							484				511,080
Univision Communications, Inc., 6.63%, 06/01/27							140				149,510
											1,446,873
Oil, Gas & Consumable Fuels — 0.1%
eG Global Finance PLC, 8.50%, 10/30/25(c)							182				193,695
Real Estate Management & Development — 0.2%
Cushman & Wakefield U.S. Borrower LLC, 6.75%, 05/15/28(c)							512				553,600
Semiconductors & Semiconductor Equipment — 0.6%
Broadcom, Inc.
4.70%, 04/15/25							1,097				1,236,461
3.15%, 11/15/25							406				432,728
NXP BV/NXP Funding LLC/NXP USA, Inc., 2.70%, 05/01/25(c)							47				49,292
											1,718,481
Software(c) — 0.2%
BY Crown Parent LLC/BY Bond Finance, Inc., 4.25%, 01/31/26							180				186,917
Solera LLC/Solera Finance, Inc., 10.50%, 03/01/24							409				422,538
											609,455
Wireless Telecommunication Services — 0.1%
GLP Capital LP/GLP Financing II, Inc., 4.00%, 01/15/31							251				259,402
Total Corporate Bonds — 6.6% (Cost: $18,563,972)											19,959,411
Floating Rate Loan Interests(g)
Aerospace & Defense — 4.3%
Bleriot US Bidco, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%), 4.20%, 10/30/26							446				444,955
Dynasty Acquisition Co., Inc.
2020 CAD Term Loan B2, (3 mo. LIBOR + 3.50%), 3.70%, 04/06/26							1,255				1,214,699
2020 Term Loan B1, (3 mo. LIBOR + 3.50%), 3.70%, 04/06/26							2,335				2,259,340
Nordam Group, Inc., Term Loan B, (1 mo. LIBOR + 5.50%), 5.63%, 04/09/26							463				425,555
Peraton Holding Corp.(h)
2nd Lien Term Loan B1, 02/23/29(b)							1,396				1,416,940
Delayed Draw Term Loan B, 02/01/28							2,713				2,710,250
Term Loan B, 02/01/28							1,541				1,539,996

Security						Par (000)				Value
Aerospace & Defense (continued)
Spirit Aerosystems, Inc., 2020 Term Loan B, (1 mo. LIBOR + 5.25%, 0.75% Floor), 6.00%, 01/15/25			USD				615			$	617,255
TransDigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 2.36%, 12/09/25							2,316				2,265,454
											12,894,444
Air Freight & Logistics — 0.7%
Kestrel Bidco, Inc., Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26							2,136				2,070,119
Airlines — 1.6%
AAdvantage Loyalty IP Ltd., 2021 Term Loan, 04/20/28(h)							786				804,424
American Airlines, Inc.
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 1.86%, 01/29/27							241				219,324
2017 Incremental Term Loan, (1 mo. LIBOR + 2.00%), 2.11%, 12/14/23							1,213				1,157,544
Repriced TL B due 2023, (1 mo. LIBOR + 2.00%), 2.11%, 04/28/23							761				723,902
JetBlue Airways Corp., Term Loan, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 06/17/24							460				470,427
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 06/20/27							1,472				1,562,395
											4,938,016
Auto Components — 2.8%
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 04/30/26							2,237				3,001,400
Truck Hero, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 01/31/28							1,556				1,551,036
USI, Inc.
2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 3.20%, 05/16/24							2,355				2,326,742
2019 Incremental Term Loan B, (3 mo. LIBOR + 3.25%), 3.45%, 12/02/26							134				133,221
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 3.11%, 02/05/26							1,609				1,587,708
											8,600,107
Automobiles — 0.7%
Mavis Tire Express Services Corp.
2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.36%, 03/20/25							1,374				1,367,335
2020 Add-On Term Loan B, (1 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 03/20/25							825				823,390
											2,190,725
Building Materials — 0.5%
Allied Universal Holdco LLC, 2019 Term Loan B, (1 mo. LIBOR + 4.25%), 4.36%, 07/12/26							1,459				1,453,450
CHI Overhead Doors, Inc, Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/31/25(b)							112				112,436
											1,565,886
Building Products — 1.6%
CP Atlas Buyer, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.50% Floor), 4.25%, 11/23/27							1,528				1,516,785
CPG International, Inc., 2017 Term Loan, (3 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 05/05/24							1,067				1,065,398
MI Windows And Doors LLC, 2020 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/18/27							329				330,205
Wilsonart LLC, 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/19/23							1,980				1,974,206
											4,886,594

2

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Capital Markets — 2.2%
Deerfield Dakota Holding, LLC, 2020 USD Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 04/09/27			USD				3,601			$	3,600,009
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 11/12/27							879				875,871
FinCo I LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.50%), 2.61%, 06/27/25							515				510,920
Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 04/12/24							867				861,871
GT Polaris, Inc., Term Loan B, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 09/24/27							511				4,469
Jefferies Finance LLC, 2019 Term Loan, (1 mo. LIBOR + 3.00%), 3.13%, 06/03/26							712				705,573
											6,558,713
Chemicals — 4.9%
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 08/27/26							1,586				1,605,866
Atotech BV, 2021 USD Term Loan B, (3 mo. LIBOR + 2.50%, 0.50% Floor), 3.00%, 03/18/28							2,155				2,146,919
Axalta Coating Systems US Holdings Inc., USD Term Loan B3, (3 mo. LIBOR + 1.75%), 1.95%, 06/01/24							1,149				1,143,294
Element Materials Technology Group US Holdings, Inc., 2017 Term Loan B, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 06/05/24							719				702,813
Encapsys LLC, 2020 Term Loan B2, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 11/07/24							762				761,897
Illuminate Buyer LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.61%, 06/30/27							1,530				1,521,180
Invictus US LLC
1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.11%, 03/28/25							474				468,147
2nd Lien Term Loan, (1 mo. LIBOR + 6.75%), 6.86%, 03/30/26							526				521,269
Klockner-Pentaplast of America, Inc., 2021 Term Loan B, 02/09/26(h)							794				791,022
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 2.70%, 03/01/26							1,722				1,707,095
Minerals Technologies, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/14/24(b)							262				261,932
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 05/15/24							1,068				1,049,230
NIC Acquisition Corp., Term Loan, (6 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/29/27							457				456,621
Oxea Holding Drei GmbH, 2017 USD Term Loan B2, (1 mo. LIBOR + 3.50%), 3.63%, 10/14/24							1,590				1,563,853
Starfruit Finco BV, 2018 USD Term Loan B, (1 mo. LIBOR + 2.75%), 2.86%, 10/01/25							127				124,641
											14,825,779
Commercial Services & Supplies — 4.3%
Aramark Services, Inc., 2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 1.86%, 03/11/25							95				94,087
Asurion LLC
2018 Term Loan B6, (1 mo. LIBOR + 3.00%), 3.11%, 11/03/23							1,306				1,301,696
2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 3.11%, 11/03/24							703				699,932

Security						Par (000)				Value
Commercial Services & Supplies (continued)
Asurion LLC (continued)
2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 3.36%, 12/23/26			USD				491			$	487,812
2021 2nd Lien Term Loan B3, (1 mo. LIBOR + 5.25%), 5.36%, 01/31/28							567				576,923
Creative Artists Agency LLC, 2020 Incremental Term Loan B1, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 11/26/26							1,216				1,201,318
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 4.36%, 12/12/25							1,592				1,592,970
Diamond (BC) BV, USD Term Loan, (1 mo. LIBOR + 3.00%), 3.11%, 09/06/24							1,266				1,259,179
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 05/09/25							349				346,945
Harland Clarke Holdings Corp., Term Loan B7, (3 mo. LIBOR + 4.75%, 1.00% Floor), 5.75%, 11/03/23							269				238,242
KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.38%, 09/19/26							609				595,747
Packers Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 03/09/28							1,091				1,077,821
Prime Security Services Borrower LLC, 2021 Term Loan, (12 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 09/23/26							1,233				1,227,075
Verscend Holding Corp.
2018 Term Loan B, (1 mo. LIBOR + 4.50%), 4.61%, 08/27/25							1,648				1,645,896
2021 Term Loan B, 08/27/25(h)							517				515,896
											12,861,539
Communications Equipment — 0.2%
Avantor Funding, Inc., USD Term Loan B3, (1 mo. LIBOR + 2.25%, 1.00% Floor), 3.25%, 11/21/24							544				543,706
Construction & Engineering — 1.7%
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 06/21/24							2,558				2,515,560
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR + 3.00%), 3.13%, 01/21/28							672				669,032
Pisces Midco, Inc., 2018 Term Loan, (1 mo. LIBOR + 3.75%), 3.86%, 04/12/25							263				262,772
SRS Distribution, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.11%, 05/23/25							1,800				1,774,203
											5,221,567
Construction Materials — 1.6%
Core & Main LP, 2017 Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 08/01/24							1,525				1,518,044
Filtration Group Corp.
2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.11%, 03/29/25							1,491				1,467,929
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 03/29/25							748				746,930
Forterra Finance LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 10/25/23							709				709,189
Tamko Building Products, Inc., Term Loan B, 05/29/26(h)							544				540,943
											4,983,035
Containers & Packaging — 2.1%
BWAY Holding Co., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 3.44%, 04/03/24							1,497				1,463,387

SCHEDULE OF INVESTMENTS 3

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Containers & Packaging (continued)
Charter NEX US, Inc., 2020 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 12/01/27			USD				2,451			$	2,454,329
Flex Acquisition Co., Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.50% Floor), 4.00%, 03/02/28							1,265				1,247,375
Pregis TopCo Corp.
1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 3.86%, 08/01/26							386				382,339
2020 Incremental Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 08/01/26(b)							179				179,000
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/18/27							504				503,910
											6,230,340
Distributors — 1.3%
American Builders & Contractors Supply Co., Inc.,
2019 Term Loan, (1 mo. LIBOR + 2.00%), 2.11%, 01/15/27							1,779				1,763,714
TMK Hawk Parent Corp.
2020 Super Priority First Out Term Loan A, (2 mo. LIBOR + 9.50%, 1.00% Floor), 10.50%, 05/30/24(b)			.				585				579,368
2020 Super Priority Second Out Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 08/30/24							1,925				1,700,981
											4,044,063
Diversified Consumer Services — 2.5%
Amentum Government Services Holdings LLC, Term Loan B, (1 mo. LIBOR + 3.50%), 3.61%, 01/31/27							341				337,723
Ascend Learning LLC
2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 07/12/24							963				958,301
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 07/12/24							629				628,450
Bright Horizons Family Solutions, LLC, 2017 Term Loan B, (PRIME + 0.75%), 4.00%, 11/07/23							1,145				1,135,090
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 3.86%, 07/11/25							1,606				1,579,580
Midas Intermediate Holdco II, LLC, 2020 Term Loan B, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 12/22/25							1,036				1,060,486
Nomad Foods Europe Midco Ltd., 2017 USD Term Loan B4, (1 mo. LIBOR + 2.25%), 2.36%, 05/15/24							701				693,865
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 10/28/27							473				474,183
Serta Simmons Bedding LLC
2020 Super Priority First Out Term Loan, (1 mo. LIBOR + 7.50%), 8.50%, 08/10/23							291				293,908
2020 Super Priority Second Out Term Loan, (1 mo. LIBOR + 7.50%, 1.00% Floor), 8.50%, 08/10/23							458				436,029
											7,597,615
Diversified Financial Services — 8.8%
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 4.61%, 07/31/26							868				866,745
Alchemy Copyrights, LLC, Term Loan B, (1 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 08/14/27(b)							527				527,353
AlixPartners LLP, 2021 USD Term Loan B, 02/04/28(h)							2,118				2,108,871
Allsup’s Convenience Stores, Inc., Term Loan, (1 mo. LIBOR + 6.25%), 6.36%, 11/18/24							379				382,157
Applecaramel Buyer LLC, Term Loan B, (6 mo. LIBOR + 4.00%, 0.50% Floor), 4.50%, 10/19/27							768				766,155

Security						Par (000)				Value
Diversified Financial Services (continued)
Delta TopCo, Inc.
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/01/28			USD				412			$	420,755
2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27							2,261				2,256,162
EG Finco Ltd., 2018 Term Loan, (3 mo. LIBOR + 4.00%), 4.20%, 02/07/25							565				555,330
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (3 mo. LIBOR + 4.00%, 0.50% Floor), 4.50%, 02/16/28(b)							778				771,193
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/03/24							1,042				1,017,431
LBM Acquisition LLC
Delayed Draw Term Loan, 12/18/27(h)							131				130,280
Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/18/27							589				586,262
LEB Holdings (USA), Inc, Term Loan B, (3 mo. LIBOR + 4.00%, , 0.75% Floor), 4.75%, 11/02/27							630				630,369
Milano Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/01/27							4,191				4,169,545
RV Retailer LLC, Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 02/08/28							578				575,833
SMG US Midco 2, Inc., 2020 Term Loan, (3 mo. LIBOR + 2.50%), 2.71%, 01/23/25							956				908,430
SpA Holdings 3 Oy, USD Term Loan B, 03/11/28(b)(h)							736				734,160
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 4.45%, 07/30/25							1,249				1,189,800
Therma Intermediate LLC, 2020 Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 12/16/27							434				433,304
Veritas US, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 6.00%, 09/01/25							4,490				4,494,131
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 3.11%, 02/28/27							2,131				2,120,801
Ziggo Financing Partnership, USD Term Loan I, (1 mo. LIBOR + 2.50%), 2.61%, 04/30/28							1,003				992,057
											26,637,124
Diversified Telecommunication Services — 3.2%
Cablevision Lightpath LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 11/30/27							355				354,222
Consolidated Communications, Inc., 2020 Term Loan B, (1 mo. LIBOR + 4.75%, 1.00% Floor), 5.75%, 10/02/27							497				496,689
Frontier Communications Corp., 2020 DIP Exit Term Loan, (1 mo. LIBOR + 4.75%, 1.00% Floor), 5.75%, 10/08/21							948				944,047
GCI LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 10/15/25							764				759,630
Hargray Communications Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 05/16/24							1,388				1,385,094
Intelsat Jackson Holdings SA
2017 Term Loan B3, (PRIME + 4.75%), 8.00%, 11/27/23							245				248,675
2020 DIP Term Loan, (3 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 07/13/22							85				85,727
Iridium Satellite LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 11/04/26							1,077				1,079,165
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 1.86%, 03/01/27							1,183				1,166,578

4

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Diversified Telecommunication Services (continued)
MTN Infrastructure TopCo, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 11/15/24			USD				1,417			$	1,413,360
TDC A/S, EUR Term Loan, (6 mo. EURIBOR + 3.00%), 3.00%, 06/11/25			EUR				820				957,386
Virgin Media SFA Finance Ltd., GBP Term Loan L, (1 mo. LIBOR + 3.25%), 3.30%, 01/15/27			GBP				600				815,505
											9,706,078
Electric Utilities — 1.1%
ExGen Renewables IV LLC, 2020 Term Loan, (3 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 12/15/27			USD				835				835,258
Triton Water Holdings, Inc, Term Loan, 03/18/28(h)							2,495				2,483,299
											3,318,557
Electrical Equipment — 0.5%
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 03/31/27							1,518				1,513,148
Electronic Equipment, Instruments & Components — 0.1%
GrafTech Finance, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 02/12/25							445				444,725
Energy Equipment & Services — 0.1%
Dell International LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%, 0.25% Floor), 2.00%, 09/19/25							358				357,926
Entertainment — 0.4%
MSG National Properties LLC, Term Loan, (3 mo. LIBOR + 6.25%, 0.75% Floor), 7.00%, 11/12/25(b)							1,220				1,250,441
Environmental, Maintenance, & Security Service — 0.9%
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 1.86%, 09/07/27							1,232				1,227,769
TruGreen Limited Partnership, 2020 Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 11/02/27							1,520				1,516,970
											2,744,739
Equity Real Estate Investment Trusts (REITs) — 0.6%
RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 3.00%, 05/11/24							447				441,172
VICI Properties LLC, Replacement Term Loan B, (1 mo. LIBOR + 1.75%), 1.86%, 12/20/24							1,529				1,510,407
											1,951,579
Food & Staples Retailing — 1.1%
H Food Holdings LLC, 2018 Incremental Term Loan B2, (1 mo. LIBOR + 4.00%), 4.11%, 05/23/25							585				581,906
Hearthside Food Solutions LLC
2018 Term Loan B, (1 mo. LIBOR + 3.68%), 3.80%, 05/23/25							520				514,299
2020 Incremental Term Loan B3, (1 mo. LIBOR + 5.00%, 1.00% Floor), 6.00%, 05/23/25							102				102,485
US Foods, Inc.
2016 Term Loan B, (1 mo. LIBOR + 1.75%), 1.86%, 06/27/23							1,614				1,590,889
2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.11%, 09/13/26							400				391,807
											3,181,386
Food Products — 2.8%
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.61%, 10/01/25							672				670,615

Security						Par (000)				Value
Food Products (continued)
B&G Foods, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 2.61%, 10/10/26			USD				262			$	261,655
Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 10/23/27							1,916				1,913,496
Froneri International Ltd.
2020 USD 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 5.86%, 01/29/28							248				251,024
2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 2.36%, 01/29/27							2,608				2,570,470
JBS USA LUX SA, 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.11%, 05/01/26							319				316,902
Pathway Vet Alliance LLC, 2021 Term Loan, (1 mo. LIBOR + 3.75%), 3.86%, 03/31/27							357				354,629
Reynolds Group Holdings Inc., 2020 Term Loan B2, (1 mo. LIBOR + 3.25%), 3.36%, 02/05/26							251				247,844
Reynolds Group Holdings, Inc., 2017 Term Loan, (1 mo. LIBOR + 2.75%), 2.86%, 02/05/23							1,183				1,176,742
Sovos Brands Intermediate, Inc., 2018 Term Loan, (3 mo. LIBOR + 4.75%), 4.98%, 11/20/25(b)							464				462,469
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.11%, 01/20/28							371				370,220
											8,596,066
Health Care Equipment & Supplies — 0.8%
Avantor Funding, Inc., 2020 Incremental Term Loan B4, (1 mo. LIBOR + 2.25%, 1.00% Floor), 3.25%, 11/06/27							1,279				1,278,156
Ortho-Clinical Diagnostics SA, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 06/30/25							1,282				1,279,699
											2,557,855
Health Care Providers & Services — 3.8%
AHP Health Partners, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 06/30/25							491				491,218
CCRR Parent, Inc, Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 03/06/28(b)							830				831,037
CHG Healthcare Services, Inc., 2017 1st Lien Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 06/07/23							1,168				1,163,242
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 01/08/27							595				595,315
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 3.86%, 10/10/25							1,201				1,033,050
EyeCare Partners LLC
2020 2nd Lien Term Loan, (1 mo. LIBOR + 8.25%), 8.36%, 02/18/28							780				747,497
2020 Term Loan, (1 mo. LIBOR + 3.75%), 3.86%, 02/18/27							1,053				1,041,229
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 4.75%, 03/05/26							655				623,519
HC Group Holdings II, Inc., Term Loan B, (1 mo. LIBOR + 3.75%), 3.86%, 08/06/26							2,649				2,637,428
MPH Acquisition Holdings LLC, 2016 Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 06/07/23							729				724,254
PetVet Care Centers LLC, 2021 Term Loan B3, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 02/14/25							33				32,682
Sotera Health Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 2.75%, 0.50% Floor), 3.25%, 12/13/26							1,564				1,558,135
											11,478,606

SCHEDULE OF INVESTMENTS 5

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Health Care Services — 1.1%
Azalea Topco, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 3.71%, 07/25/26			USD				1,289			$	1,276,761
Unified Physician Management LLC, 2020 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 12/18/27(b)							881				880,793
WP CityMD Bidco LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 08/13/26							1,103				1,101,168
											3,258,722
Health Care Technology — 1.9%
Athenahealth, Inc., 2021 Term Loan B1, (3 mo. LIBOR + 4.25%), 4.45%, 02/11/26							227				227,188
Change Healthcare Holdings, Inc., 2017 Term Loan B, (3 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 03/01/24							899				897,321
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 2.86%, 10/10/25							1,776				1,768,264
Press Ganey Holdings, Inc., 2020 Incremental Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.00%, 07/25/26							595				595,250
Quintiles IMS, Inc., 2017 USD Term Loan B1, (1 mo. LIBOR + 1.75%), 1.86%, 03/07/24							306				304,871
Verscend Holdings Corp., 2nd Lien Term Loan, 02/01/29(b)(h)							1,902				1,930,530
											5,723,424
Hotels, Restaurants & Leisure — 8.4%
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 1.86%, 11/19/26							1,516				1,487,144
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 3.86%, 02/02/26(b)							266				257,877
Aristocrat Leisure Ltd., 2020 Incremental Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 10/19/24							616				618,013
Boyd Gaming Corp., Term Loan B3, (1 Week LIBOR + 2.25%), 2.33%, 09/15/23							703				700,442
Caesars Resort Collection LLC
2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 2.86%, 12/23/24							1,705				1,678,597
2020 Term Loan B1, (1 mo. LIBOR + 4.50%), 4.61%, 07/20/25							2,239				2,242,180
CCM Merger, Inc., 2020 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 11/04/25							441				441,667
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (3 mo. LIBOR + 2.00%), 2.12%, 03/10/28(b)							485				481,969
ECL Entertainment, LLC, Term Loan, 03/31/28(b)(h)							573				573,000
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 03/08/24							2,624				2,443,859
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 2.11%, 11/30/23							834				831,061
Gateway Casinos & Entertainment Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.50%, 1.00% Floor), 3.70%, 12/01/23							95				92,716
Golden Nugget LLC, 2017 Incremental Term Loan B, (2 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 10/04/23							1,550				1,523,863
Golden Nugget, Inc., 2020 Initial Term Loan, (3 mo. LIBOR + 12.00%, 1.00% Floor), 13.00%, 10/04/23(b)							110				124,492

Security						Par (000)				Value
Hotels, Restaurants & Leisure (continued)
Herschend Entertainment Co. LLC, Term Loan B, (3 mo. LIBOR + 5.75%, 1.00% Floor), 6.75%, 08/25/25(b)			USD				368			$	373,672
IRB Holding Corp, 2020 Fourth Amendment Incremental Term Loan, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/15/27							2,997				2,983,283
IRB Holding Corp., 2020 Term Loan B, (6 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 02/05/25							1,412				1,399,298
Playa Resorts Holding BV, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 04/29/24							369				353,819
Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 2.86%, 08/14/24							797				781,327
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 3.50%), 3.70%, 07/10/25							547				547,607
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%, 0.25% Floor), 2.50%, 02/08/27							1,283				1,260,775
Travelport Finance (Luxembourg) S.a.r.l.
2019 Term Loan, (3 mo. LIBOR + 5.00%), 5.20%, 05/29/26							1,376				1,115,803
2020 Super Priority Term Loan, 02/28/25(h)							718				730,208
Whatabrands LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 2.86%, 08/02/26							608				603,855
Wyndham Hotels & Resorts, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 1.86%, 05/30/25							342				338,140
Zaxby’s Operating Company LLC
1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/28/27							969				967,304
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.75% Floor), 7.25%, 12/28/28							391				394,910
											25,346,881
Household Durables — 0.6%
Reynolds Consumer Products LLC, Term Loan, (1 mo. LIBOR + 1.75%), 1.86%, 02/04/27							944				938,314
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 10/30/27							737				736,231
											1,674,545
Household Products — 0.1%
Spectrum Brands, Inc., 2021 Term Loan, (3 mo. LIBOR + 2.00%, 0.50% Floor), 2.50%, 03/03/28							335				333,955
Independent Power and Renewable Electricity Producers — 0.5%
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.11%, 01/15/25							316				311,372
Calpine Corp.
2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 2.11%, 08/12/26							475				468,939
Term Loan B9, (1 mo. LIBOR + 2.00%), 2.11%, 04/06/26							882				872,018
											1,652,329
Industrial Conglomerates — 2.7%
AVSC Holding Corp.
2020 Term Loan B1, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 03/03/25							2,350				2,078,768
2020 Term Loan B3, (PIK + 10.00%), 10.00%, 10/15/26							680				788,897

6

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Industrial Conglomerates (continued)
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 7.75%, 11/28/23			USD				810			$	812,182
Vertical Midco GmbH, USD Term Loan B, (6 mo. LIBOR + 4.25%), 4.48%, 07/31/27							1,185				1,186,830
Vertiv Group Corporation, 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 2.87%, 03/02/27							3,217				3,412,094
											8,278,771
Insurance — 4.0%
Alliant Holdings I, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 05/09/25							1,802				1,778,783
Alliant Holdings Intermediate LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 05/09/25							637				627,599
AmWINS Group, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/19/28							1,924				1,908,553
AssuredPartners Capital, Inc., 2020 Incremental Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 02/13/27							420				419,655
AssuredPartners, Inc., 2020 Term Loan B, (1 mo. LIBOR + 3.50%), 3.61%, 02/13/27							885				874,306
Hub International Limited, 2021 Term Loan B, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 04/25/25							544				543,293
HUB International Ltd., 2018 Term Loan B, (3 mo. LIBOR + 2.75%), 2.97%, 04/25/25							2,103				2,071,661
Ryan Specialty Group LLC, Term Loan, (1 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 09/01/27							1,018				1,016,185
Sedgwick Claims Management Services, Inc.
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 12/31/25							1,210				1,192,933
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 3.86%, 09/03/26							745				739,975
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 09/03/26							1,042				1,042,820
											12,215,763
Interactive Media & Services — 3.3%
Adevinta ASA, USD Term Loan B, 04/20/28(h)							1,545				1,544,329
Arches Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 12/06/27							1,478				1,466,469
Camelot U.S. Acquisition 1 Co., 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 10/31/26							1,768				1,765,802
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (3 mo. LIBOR + 2.00%), 2.11%, 08/10/27							1,192				1,184,292
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26							3,977				4,036,655
											9,997,547
Internet & Direct Marketing Retail — 0.6%
CNT Holdings I Corp., 2020 Term Loan, (6 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 11/08/27							1,688				1,683,257
Internet Software & Services — 0.4%
Uber Technologies, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 3.61%, 02/25/27							1,314				1,307,272
IT Services — 6.9%
Aruba Investments, Inc.
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 11/24/28							885				887,212

Security						Par (000)				Value
IT Services (continued)
Aruba Investments, Inc. (continued)
2020 USD Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 11/24/27			USD				479			$	477,802
Banff Merger Sub, Inc., 2021 USD Term Loan, (1 mo. LIBOR + 3.75%), 3.86%, 10/02/25							1,277				1,270,942
Camelot U.S. Acquisition 1 Co., Term Loan B, (1 mo. LIBOR + 3.00%), 3.11%, 10/31/26							2,256				2,236,861
Celestial -Saturn Parent INC, 2nd Lien Term Loan, 03/22/29(h)							783				775,170
Greeneden US Holdings II LLC, 2020 USD Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 12/01/27							3,468				3,465,548
GreenSky Holdings, LLC, 2020 Term Loan B2, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 03/29/25(b)							962				952,115
Optiv Security, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 02/01/24							626				603,164
Peak 10 Holding Corp., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%), 7.43%, 08/01/25							605				515,103
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 3.61%, 02/13/27							1,979				1,907,166
Rackspace Hosting, Inc., 2021 Term Loan, (3 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 02/09/28							683				675,759
Sophia LP, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.00%, 1.00% Floor), 9.00%, 10/09/28(b)							2,590				2,661,225
TierPoint LLC, 2021 Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 05/05/26							598				594,134
Trans Union, LLC, 2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 1.86%, 11/16/26							1,167				1,158,059
Virtusa Corp., Term Loan B, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 02/11/28							653				653,411
WEX Inc., Term Loan B3, (1 mo. LIBOR + 2.25%), 2.36%, 05/15/26							1,339				1,332,586
WEX, Inc., 2021 Term Loan, 03/18/28(h)							611				608,709
											20,774,966
Leisure Products — 0.2%
MND Holdings III Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 06/19/24							621				599,433
Life Sciences Tools & Services — 2.1%
eResearchTechnology, Inc.
2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 02/04/27							1,649				1,650,126
2021 Incremental Term Loan, 02/04/27(h)							1,100				1,100,517
Maravai Intermediate Holdings LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 10/19/27(b)							767				770,633
PPD, Inc., Initial Term Loan, (1 mo. LIBOR + 2.25%, 0.50% Floor), 2.75%, 01/13/28							2,745				2,728,832
											6,250,108
Machinery — 1.9%
Columbus McKinnon Corp., 2018 Term Loan B, (1 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 01/31/24							81				80,591
Hayward Industries, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.61%, 08/05/24							770				768,884
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. LIBOR + 1.75%), 1.86%, 02/28/27							1,403				1,383,541
Titan Acquisition Ltd., 2018 Term Loan B, (6 mo. LIBOR + 3.00%), 3.27%, 03/28/25							3,432				3,357,093
											5,590,109

SCHEDULE OF INVESTMENTS 7

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Media — 15.2%
A-L Parent LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/01/23			USD				2,266			$	2,080,924
Altice Financing SA
2017 USD Term Loan B, (1 mo. LIBOR + 2.75%), 2.86%, 07/15/25							700				685,564
USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 2.95%, 01/31/26							968				947,526
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 4.20%, 08/14/26							2,169				2,161,283
Charter Communications Operating LLC, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 1.86%, 04/30/25							2,088				2,082,270
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 3.71%, 08/21/26							4,019				3,854,670
Connect Finco Sarl, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 12/12/26							5,648				5,617,689
CSC Holdings LLC
2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 2.36%, 07/17/25							1,329				1,309,677
2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 2.61%, 04/15/27							1,310				1,292,884
E.W. Scripps Co., 2020 Term Loan B3, (1 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 01/07/28							633				630,543
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 2.36%, 03/24/25							834				820,072
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 1.88%, 10/17/26							1,583				1,536,100
MCC Iowa LLC, Term Loan N, (1 Week LIBOR + 1.75%), 1.84%, 02/15/24							82				81,837
MH Sub I LLC
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.61%, 09/13/24							2,174				2,147,714
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 09/15/24							1,591				1,589,009
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 6.36%, 02/23/29							764				767,820
Midcontinent Communications, 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 1.86%, 08/15/26							451				448,508
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 2.62%, 09/19/26							828				821,304
Playtika Holding Corp., 2021 Term Loan, 03/11/28(h)							1,226				1,218,338
Radiate Holdco LLC, 2020 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 09/25/26							1,503				1,502,002
Sinclair Television Group, Inc., Term Loan B2, (1 mo. LIBOR + 2.25%), 2.36%, 01/03/24							518				513,823
Terrier Media Buyer, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.61%, 12/17/26							1,928				1,909,100
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 09/28/23(b)							2,538				2,525,878
Virgin Media Bristol LLC
2020 USD Term Loan Q, 01/31/29(h)							1,453				1,449,193
USD Term Loan N, (1 mo. LIBOR + 2.50%), 2.61%, 01/31/28							609				603,181
William Morris Endeavor Entertainment, LLC, 2018 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 2.94%, 05/18/25							1,834				1,726,955

Security						Par (000)				Value
Media (continued)
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR + 2.12%), 2.23%, 01/20/28			USD				412			$	409,739
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 3.11%, 03/09/27							5,196				5,150,148
											45,883,751
Metals & Mining — 0.4%
Ball Metalpack, LLC, 2018 1st Lien Term Loan B, (3 mo. LIBOR + 4.50%), 4.69%, 07/31/25							1,096				1,088,631
Multi-line Retail — 0.2%
Eyemart Express LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 08/04/24							584				579,948
Oil, Gas & Consumable Fuels — 0.6%
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 3.86%, 12/13/25							907				894,963
EG Group Ltd., 2018 USD Term Loan B, (3 mo. LIBOR + 4.00%), 4.20%, 02/07/25							480				471,834
Lealand Finance Company B.V., 2020 Take Back Term Loan, (PIK + 3.00%), 3.00%, 06/30/25							177				95,877
McDermott Technology Americas, Inc., 2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 3.11%, 06/30/24(b)							25				19,686
Murphy USA, Inc., Term Loan B, (1 mo. LIBOR + 1.75%, 0.50% Floor), 2.25%, 01/31/28(b)							400				401,500
											1,883,860
Personal Products — 1.5%
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 10/01/26							4,518				4,508,608
Pharmaceuticals — 2.9%
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 3.63%, 05/04/25							1,210				1,186,554
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR + 2.00%, 0.50% Floor), 2.50%, 02/22/28							1,266				1,265,185
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 1.87%, 08/01/27							768				757,166
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 Week LIBOR + 2.00%), 2.08%, 11/15/27							1,047				1,034,909
Precision Medicine Group LLC, 2021 Delayed Draw Term Loan, (3 mo. LIBOR + 5.50%), 0.00%, 11/18/27							15				15,448
Precision Medicine Group, LLC, 2021 Term Loan, (3 mo. LIBOR + 3.00%, , 0.75% Floor), 3.75%, 11/18/27							1,476				1,463,998
Valeant Pharmaceuticals International, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.11%, 06/02/25							3,023				3,011,393
											8,734,653
Professional Services — 1.6%
Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 3.25%), 3.36%, 02/06/26							4,805				4,774,828
Real Estate Management & Development — 0.7%
CityCenter Holdings LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 04/18/24							1,268				1,250,798
Cushman & Wakefield U.S. Borrower, LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 2.86%, 08/21/25							904				884,791
Realogy Corp., 2018 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/08/25							47				45,730
											2,181,319

8

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Road & Rail — 0.3%
Moda Ingleside Energy Center LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 09/25/25			USD				154			$	154,052
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.75%), 5.71%, 08/04/25(b)							756				695,699
											849,751
Semiconductors & Semiconductor Equipment — 0.1%
ON Semiconductor Corp., 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.11%, 09/19/26							301				300,071
Software — 19.3%
Applied Systems, Inc.
2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 0.50% Floor), 3.50%, 09/19/24							2,383				2,371,881
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.50%, 0.75% Floor), 5.70%, 09/19/25							439				441,195
Barracuda Networks, Inc.
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/12/25							2,208				2,204,683
2020 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 10/30/28							535				543,694
By Crown Parent LLC, Term Loan B1, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 01/31/26							1,481				1,479,235
Cloudera, Inc., Term Loan B, (1 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 12/22/27(b)							606				604,485
Cornerstone OnDemand, Inc., Term Loan B, (1 mo. LIBOR + 4.25%), 4.36%, 04/22/27							396				396,176
Cypress Intermediate Holdings III, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 04/29/24							1,157				1,155,463
Digicel International Finance Ltd., 2017 Term Loan B, (6 mo. LIBOR + 3.25%), 3.51%, 05/27/24							872				827,093
DTI Holdco, Inc., 2018 Term Loan B, (3 mo. LIBOR + 4.75%, 1.00% Floor), 5.75%, 09/29/23							313				301,242
Epicor Software Corp.
2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 8.75%, 07/31/28							1,316				1,357,125
2020 Term Loan, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 07/31/27							910				1,503,782
First Advantage Holdings LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.11%, 01/31/27							1,013				1,004,447
Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 3.75%), 3.93%, 03/11/28							1,587				1,574,114
Informatica LLC
2020 USD 2nd Lien Term Loan, (Fixed), 7.13%, 02/25/25							1,093				1,115,549
2020 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 02/25/27							5,317				5,271,943
McAfee LLC, 2018 USD Term Loan B, (1 mo. LIBOR + 3.75%), 3.86%, 09/30/24							907				906,985
MED ParentCo LP, 2020 Incremental Term Loan B, (1 mo. LIBOR + 6.25%, 1.00% Floor), 7.25%, 08/31/26							536				535,635
Mitchell International, Inc.
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.36%, 11/29/24							1,352				1,329,235
2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.36%, 11/30/25							752				748,649
2020 Add-On Term Loan, (1 mo. LIBOR + 4.25%, 0.50% Floor), 4.75%, 12/01/24							1,272				1,272,564

Security						Par (000)				Value
Software (continued)
Netsmart Technologies, Inc., 2020 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/01/27			USD				903			$	901,871
Omnitracs, Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 8.00%), 8.11%, 10/01/28(b)							663				663,829
Planview Parent, Inc.
2nd Lien Term Loan, (1 Week LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/17/28							572				569,140
Term Loan, (3 mo. LIBOR + 4.00%, , 0.75% Floor), 4.75%, 12/17/27							1,613				1,609,840
Project Alpha Intermediate Holding, Inc., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 4.11%, 04/26/24							947				943,078
RealPage, Inc(h)
Second Lien Term Loan, 03/31/26(b)							1,825				1,870,734
Term Loan, 02/17/28							3,803				3,783,954
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.36%, 05/30/25							423				412,110
Sabre GLBL, Inc., 2020 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 12/17/27							685				691,710
Severin Acquisition, LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.36%, 08/01/25							2,411				2,378,629
SolarWinds Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.75%), 2.86%, 02/05/24							628				615,746
Solera LLC, USD Term Loan B, (1 mo. LIBOR + 2.75%), 2.86%, 03/03/23							759				753,975
Sophia LP, 2020 1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 10/07/27							3,169				3,165,096
Tempo Acquisition LLC, 2020 Extended Term Loan, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 11/02/26							4,243				4,239,755
Tibco Software, Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.36%, 03/04/28							1,799				1,816,429
Ultimate Software Group, Inc.
2020 2nd Lien Incremental Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 05/03/27							1,225				1,252,562
2021 Incremental Term Loan, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 05/03/26							2,260				2,259,804
Term Loan B, (1 mo. LIBOR + 3.75%), 3.86%, 05/03/26							3,565				3,559,014
											58,432,451
Specialty Retail — 4.3%
Belron Finance US LLC
2018 Term Loan B, (3 mo. LIBOR + 2.25%), 2.45%, 11/13/25							273				271,018
2019 USD Term Loan B, (3 mo. LIBOR + 2.25%), 2.46%, 10/30/26							667				661,563
USD Term Loan B, (3 mo. LIBOR + 2.25%), 2.44%, 11/07/24							1,241				1,239,170
CD&R Firefly Bidco Ltd., 2018 GBP Term Loan B1, (3 mo. LIBOR + 4.25%), 4.31%, 06/21/25			GBP				1,000				1,370,300
EG Group Limited, 2021 Term Loan, 03/10/26(h)			USD				354				350,018
IAA, Inc., Term Loan B, (1 mo. LIBOR + 2.25%), 2.38%, 06/28/26(b)							294				292,210
MED ParentCo LP
1st Lien Delayed Draw Term Loan, (1 mo. LIBOR + 4.25%), 4.25%, 08/31/26							215				213,101
1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 4.36%, 08/31/26							857				849,781
PetSmart, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/12/28							3,651				3,642,603

SCHEDULE OF INVESTMENTS 9

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Specialty Retail (continued)
Research Now Group, Inc., 2017 1st Lien Term Loan, (6 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 12/20/24			USD				1,350			$	1,333,689
Sotheby’s, Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 01/15/27							2,022				2,029,584
Woof Holdings, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/21/27							341				339,295
WOOF Holdings, Inc., 2nd Lien Term Loan, (12 mo. LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/21/28							345				349,744
											12,942,076
Technology Hardware, Storage & Peripherals — 0.4%
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR + 5.00%), 5.11%, 07/23/26							860				806,542
Western Digital Corp., 2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 1.86%, 04/29/23							445				444,388
											1,250,930
Thrifts & Mortgage Finance — 0.6%
IG Investment Holdings LLC, 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 05/23/25							1,864				1,861,728
Trading Companies & Distributors — 0.5%
Foundation Building Materials Holding Company LLC 2021 Delayed Draw Term Loan, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 02/10/28							347				343,481
2021 Term Loan, (1 mo. LIBOR + 3.25%, 0.50% Floor), 3.75%, 02/10/28							600				593,937
ION Trading Finance Limited, 2021 Term Loan, 03/25/28(h)							422				421,473
											1,358,891
Wireless Telecommunication Services — 1.4%
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 1.86%, 04/11/25							2,091				2,064,879
Xplornet Communications, Inc., 2020 Term Loan B, (1 mo. LIBOR + 4.75%), 4.86%, 06/10/27							2,221				2,219,204
											4,284,083
Total Floating Rate Loan Interests — 141.9% (Cost: $428,435,177)											429,353,139

						Shares
Investment Companies
Equity Funds — 0.1%
SPDR S&P Oil & Gas Exploration & Production ETF(i)							3,125				254,188
Fixed Income Funds(i) — 3.4%
Invesco Senior Loan ETF							133,000				2,943,290
iShares iBoxx $ High Yield Corporate Bond ETF							63,000				5,492,340
iShares iBoxx $ Investment Grade Corporate Bond ETF							15,000				1,950,750
											10,386,380
Total Investment Companies — 3.5% (Cost: $10,181,519)											10,640,568

Security						Benefical Interest (000)				Value
Other Interests(j)
IT Services(b) — 0.0%
Millennium Corp.			USD				991			$	—
Millennium Lender Claims							930				—
Total Other Interests — 0.0% (Cost: $ — )											—
						Shares
Warrants
Metals & Mining — 0.0%
Ameriforge Group, Inc. (Expires 06/08/22)(a)							2,642				—
Oil, Gas & Consumable Fuels — 0.0%
California Resources Corp. (Expires 10/27/24)(a)							617				2,807
Total Warrants — 0.0% (Cost: $ — )											2,807
Total Investments — 152.1% (Cost: $459,965,592)											460,372,677
Liabilities in Excess of Other Assets — (52.1)%											(157,741,603	)
Net Assets — 100.0%										$	302,631,074

^(a)  Non-income producing security.

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

^(c)  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)  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.

^(e)  Convertible security.

^(f)  Issuer filed for bankruptcy and/or is in default.

^(g)  Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

^(h)  Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.

⁽ⁱ⁾  Affiliate of the Trust.

^(j)  Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

For Trust compliance purposes, the Trust’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.

10

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT)

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer		Value at 12/31/20				Purchases at Cost				Proceeds from Sales				Net Realized Gain (Loss)				Change in Unrealized Appreciation (Depreciation)				Value at 03/31/21		Shares Held at 03/31/21		Income		Capital Gain Distributions from Underlying Funds
iShares iBoxx $ High Yield Corporate Bond ETF		$	5,499,900			$	—			$	—			$	—			$	(7,560	)		$5,492,340		63,000		$39,380		$ —
iShares iBoxx $ Investment Grade Corporate Bond ETF			2,071,950				—				—				—				(121,200	)		1,950,750		15,000		8,047		—
														$	—			$	(128,760	)		$7,443,090				$47,427		$ —

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts

Currency Purchased						Currency Sold						Counterparty		Settlement Date				Unrealized Appreciation (Depreciation)
USD			888,279			EUR			744,000			State Street Bank and Trust Co.			06/16/21			$	14,484
USD			3,206,771			GBP			2,295,000			Westpac Banking Corp.			06/16/21				42,205
																		$	56,689

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of 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 Trust has the ability to access;

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

• 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 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 financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust’s investments categorized in the fair value hierarchy. The breakdown of the Trust’s investments into major categories is disclosed in the Schedule of Investments above.

		Level 1				Level 2				Level 3				Total
Assets
Investments
Long-Term Investments
Common Stocks
Auto Components		$	16,131			$	—			$	—			$	16,131
Construction & Engineering			61,315				—				—				61,315
Energy Equipment & Services			—				—				3,167				3,167
Household Durables			—				—				—				—
Media			129,773				—				—				129,773
Metals & Mining			—				18,304				449				18,753

SCHEDULE OF INVESTMENTS 11

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT)

Fair Value Hierarchy as of Period End (continued)    

		Level 1				Level 2				Level 3				Total
Common Stocks (continued)
Oil, Gas & Consumable Fuels		$	30,123			$	—			$	—			$	30,123
Software			1,121				—				—				1,121
Specialty Retail			—				156,369				—				156,369
Corporate Bonds			—				19,582,550				376,861				19,959,411
Floating Rate Loan Interests			—				406,146,483				23,206,656				429,353,139
Investment Companies			10,640,568				—				—				10,640,568
Other Interests			—				—				—				—
Warrants			—				2,807				—				2,807
Liabilities
Unfunded Floating Rate Loan Interests(a)			—				(1,334	)			—				(1,334	)
		$	10,879,031			$	425,905,179			$	23,587,133			$	460,371,343
Derivative Financial Instruments(b)
Assets
Foreign Currency Exchange Contracts		$	—			$	56,689			$	—			$	56,689

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

^(b)  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 Trust 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 $135,000,000 are categorized as Level 2 within the fair value hierarchy.

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

		Common Stocks				Corporate Bonds				Floating Rate Loan Interests				Other Interests				Warrants				Total
Assets
Opening balance, as of December 31, 2020		$	32,417			$	262,106			$	19,654,013			$	-			$	-			$	19,948,536
Transfers into Level 3			-				-				2,610,773				-				-				2,610,773
Transfers out of Level 3(a)			-				-				(6,360,636	)			-				-				(6,360,636	)
Accrued discounts/premiums			-				3,744				8,050				-				-				11,794
Net realized gain (loss)			-				-				26,923				-				-				26,923
Net change in unrealized appreciation (depreciation)(b)			(28,801	)			112,302				302,167				-				-				385,668
Purchases			-				3,027				9,123,131				-				-				9,126,158
Sales			-				(4,318	)			(2,157,765	)			-				-				(2,162,083	)
Closing balance, as of March 31, 2021		$	3,616			$	376,861			$	23,206,656			$	-			$	-			$	23,587,133
Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2021(b)		$	(28,801	)		$	112,302			$	326,031			$	-			$	-			$	409,532

^(a)  As of December 31, 2020, the Trust used significant unobservable inputs in determining the value of certain investments. As of March 31, 2021, the Trust used observable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy.

^(b)  Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at March 31, 2021 is generally due to investments no longer held or categorized as Level 3 at period end.

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

12

Schedule of Investments  (unaudited) (continued) March 31, 2021 BlackRock Floating Rate Income Trust (BGT)

Currency Abbreviation
EUR		Euro
GBP		British Pound
USD		United States Dollar
Portfolio Abbreviation
DIP		Debtor-In-Possession
ETF		Exchange-Traded Fund
EURIBOR		Euro Interbank Offered Rate
LIBOR		London Interbank Offered Rate
MTN		Medium-Term Note
PIK		Payment-in-Kind
S&P		Standard & Poor’s
SPDR		Standard & Poor’s Depository Receipt

SCHEDULE OF INVESTMENTS 13