NPORT-EX 2 NPORT_D2I8_61223325_0322.htm

BlackRock Floating Rate Income Trust

Schedule of Investments (unaudited) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Shares				Value
Common Stocks
Auto Components — 0.0%
Lear Corp.(a)(b)							178			$	25,381
Construction & Engineering — 0.0%
McDermott International Ltd.(b)							76,644				50,585
Household Durables — 0.0%
Berkline Benchcraft Equity LLC(b)(c)							6,155				—
Metals & Mining(b) — 0.0%
Ameriforge Group, Inc.							832				832
Preferred Proppants LLC(c)							7,476				542
											1,374
Oil, Gas & Consumable Fuels — 0.0%
California Resources Corp.							1,252				56,002
Software — 0.0%
Avaya Holdings Corp.(b)							40				507
Specialty Retail — 0.2%
Neiman Marcus Group, Inc.(b)							2,218				363,197
Total Common Stocks — 0.2% (Cost: $2,433,027)											497,046
						Par (000)
Corporate Bonds
Airlines — 0.3%
Allegiant Travel Co., 8.50%, 02/05/24(d)			USD				740				773,300
Auto Components — 0.1%
Clarios Global LP, 6.75%, 05/15/25(d)							275				284,771
Beverages — 0.1%
Triton Water Holdings, Inc., 6.25%, 04/01/29(d)							252				214,853
Building Materials — 0.0%
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(d)							73				72,088
Chemicals — 0.0%
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(d)							32				32,400
Construction Materials — 0.2%
Wolverine Escrow LLC, 9.00%, 11/15/26(d)							940				629,800
Diversified Telecommunication Services — 0.0%
Zayo Group Holdings, Inc., 6.13%, 03/01/28(d)							155				138,725
Electric Utilities — 0.0%
Pike Corp., 5.50%, 09/01/28(d)							89				83,883
Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc., 5.02%, 11/10/21(a)(b)(c)							1,050				—
											83,883
Electronic Equipment, Instruments & Components — 0.1%
Vertiv Group Corp., 4.13%, 11/15/28(d)							311				283,823
Equity Real Estate Investment Trusts (REITs) — 0.0%
MGM Growth Properties Operating Partnership LP/MGP Finance Co.-Issuer, Inc., 4.63%, 06/15/25(d)							85				85,637

Security						Par (000)				Value
Household Products — 0.0%
Berkline Benchcraft LLC, 0.00%, 06/01/22(a)(b)(c)			USD				400			$	—
Internet Software & Services — 0.0%
Uber Technologies, Inc., 6.25%, 01/15/28(d)							137				141,650
Machinery — 0.2%
Madison IAQ LLC, 5.88%, 06/30/29(d)							499				447,852
Media(d) — 0.3%
Liberty Broadband Corp., 2.75%, 09/30/50							315				310,676
Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23(e)							129				98,191
Radiate Holdco LLC/Radiate Finance, Inc., 4.50%, 09/15/26							353				340,645
											749,512
Oil, Gas & Consumable Fuels — 0.2%
Occidental Petroleum Corp., 6.63%, 09/01/30							382				438,345
Total Corporate Bonds — 1.5% (Cost: $4,812,862)											4,376,639
Floating Rate Loan Interests(f)
Aerospace & Defense — 5.2%
Atlas CC Acquisition Corp.
Term Loan B, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 05/25/28							3,343				3,325,356
Term Loan C, (3 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 05/25/28							680				676,344
Bleriot U.S. Bidco, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%), 5.01%, 10/30/26							442				438,934
Cobham Ultra U.S. Co-Borrower LLC, USD Term Loan B, 11/16/28(g)							230				227,222
Dynasty Acquisition Co., Inc.
2020 CAD Term Loan B2, (3 mo. LIBOR + 3.50%), 4.51%, 04/06/26							1,243				1,218,870
2020 Term Loan B1, (3 mo. LIBOR + 3.50%), 4.51%, 04/06/26							2,311				2,267,098
Nordam Group, Inc., Term Loan B, (1 mo. LIBOR + 5.50%), 6.00%, 04/09/26							458				396,032
Peraton Corp.
2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 02/01/29							1,355				1,342,035
Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/01/28							3,538				3,507,822
Spirit Aerosystems, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 01/15/25							609				607,787
TransDigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 2.71%, 12/09/25							1,561				1,533,261
											15,540,761
Air Freight & Logistics — 0.4%
AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 04/06/28							359				355,872
Kestrel Bidco, Inc., Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26							257				246,955
PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%), 4.76%, 12/17/28							597				590,253
											1,193,080
Airlines — 2.9%
AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 04/20/28							1,009				1,020,864

1

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Airlines (continued)
Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/11/28			USD				1,261			$	1,247,959
American Airlines, Inc.
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 2.20%, 01/29/27							633				590,547
2017 Incremental Term Loan, (6 mo. LIBOR + 2.00%), 2.84%, 12/14/23							1,201				1,184,335
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 06/20/27							2,132				2,209,324
United Airlines, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 04/21/28							2,289				2,258,369
											8,511,398
Auto Components — 2.8%
Adient U.S. LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 04/08/28							504				495,367
Clarios Global LP, 2021 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 04/30/26							2,248				2,217,146
Truck Hero, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 01/31/28							1,540				1,490,376
USI, Inc.
2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 4.01%, 05/16/24							2,331				2,312,978
2019 Incremental Term Loan B, (3 mo. LIBOR + 3.25%), 4.26%, 12/02/26							133				131,724
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 02/05/26							1,593				1,541,770
											8,189,361
Banks — 0.8%
Directv Financing LLC, Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 5.75%, 08/02/27							1,316				1,313,561
LABL, Inc., 2021 USD 1st Lien Term Loan, (1 mo. LIBOR + 5.00%), 5.50%, 10/29/28							998				982,717
											2,296,278
Beverages — 0.4%
Naked Juice LLC
Delayed Draw Term Loan, (SOFR + 3.25%), 3.75%, 01/24/29							63				62,019
Term Loan, 01/24/29(g)							1,189				1,168,101
											1,230,120
Building Materials — 0.2%
CHI Overhead Doors, Inc, Term Loan, (1 mo. LIBOR + 3.50%, 1.00% Floor), 3.96%, 07/31/25							111				109,859
Cornerstone Building Brands, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 3.75%, 04/12/28							261				251,696
MI Windows & Doors LLC, 2022 Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 12/18/27							203				200,718
											562,273
Building Products — 2.0%
Associated Materials Inc., 2022 Term Loan B, 03/08/29(g)							525				505,872
CP Atlas Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 11/23/27							911				884,229
CPG International, Inc., 2017 Term Loan, (1 Week LIBOR + 2.50%, 0.75% Floor), 3.25%, 05/05/24							1,067				1,056,597
Jeld-Wen, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 07/28/28							509				503,747

Security						Par (000)				Value
Building Products (continued)
Standard Industries Inc., 2021 Term Loan B, 09/22/28(g)			USD				1,006			$	1,002,714
Wilsonart LLC, 2021 Term Loan E, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.50%, 12/31/26							1,961				1,907,647
											5,860,806
Capital Markets — 3.2%
AqGen Ascensus, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.50%), 7.00%, 08/02/29(c)							1,663				1,646,110
Deerfield Dakota Holding LLC
2020 USD Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 04/09/27							3,706				3,682,784
2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 04/07/28(c)							1,114				1,111,215
Eagle Broadband Investments LLC, Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 4.06%, 11/12/27							940				926,642
FinCo I LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.50%), 2.96%, 06/27/25							509				503,590
Focus Financial Partners LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.50%), 3.00%, 07/01/28							913				900,261
Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 04/12/24							721				715,049
											9,485,651
Chemicals — 5.3%
Ascend Performance Materials Operations LLC, 2021 Term Loan B, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 08/27/26							1,570				1,563,274
Atotech BV, 2021 USD Term Loan B, (1 mo. LIBOR + 2.50%), 3.00%, 03/18/28							2,139				2,108,359
Axalta Coating Systems U.S. Holdings, Inc., USD Term Loan B3, (3 mo. LIBOR + 1.75%), 2.76%, 06/01/24							1,136				1,124,632
CPC Acquisition Corp., Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 12/29/27(c)							452				438,857
Element Materials Technology Group U.S. Holdings, Inc., 2017 USD Term Loan B, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.51%, 06/28/24							711				701,448
Element Solutions, Inc., 2019 Term Loan B1, (1 mo. LIBOR + 2.00%), 2.46%, 01/31/26							1,234				1,220,129
Illuminate Buyer LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 06/30/27							864				834,784
Lonza Group AG
USD 1st Lien Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 07/03/28							29				28,168
USD Term Loan B, (6 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 07/03/28							638				621,433
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), 3.51%, 03/02/26							1,510				1,491,922
Minerals Technologies, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/14/24(c)							262				260,948
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.70%, 05/15/24							931				918,003
Oxea Holding Drei GmbH, 2017 USD Term Loan B2, (1 mo. LIBOR + 3.25%), 3.56%, 10/14/24							1,069				1,044,680
PQ Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.50%), 3.00%, 06/09/28							1,075				1,059,647
Pregis TopCo Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 4.50%, 08/01/26(c)							436				425,703
SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, (6 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 03/16/27							655				643,111
Sparta U.S. HoldCo LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/02/28(c)							877				863,650

S C H E D U L E   O F   I N V E S T M E N T S 2

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Chemicals (continued)
Starfruit Finco BV, 2018 USD Term Loan B, (3 mo. LIBOR + 3.00%), 4.01%, 10/01/25			USD				99			$	97,216
W.R. Grace & Co.-Conn., 2021 Term Loan B, (3 mo. LIBOR + 3.75%), 4.81%, 09/22/28							333				329,833
											15,775,797
Commercial Services & Supplies — 4.9%
Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 05/12/28							1,625				1,598,275
Aramark Services, Inc., 2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 2.21%, 03/11/25							95				93,218
Asurion LLC
2018 Term Loan B6, (1 mo. LIBOR + 3.12%), 3.58%, 11/03/23							456				452,675
2018 Term Loan B7, (1 mo. LIBOR + 3.00%), 3.46%, 11/03/24							696				686,194
2020 Term Loan B8, (1 mo. LIBOR + 3.25%), 3.71%, 12/23/26							486				475,161
2021 2nd Lien Term Loan B3, (1 mo. LIBOR + 5.25%), 5.71%, 01/31/28							689				674,239
2021 2nd Lien Term Loan B4, (1 mo. LIBOR + 5.25%), 5.71%, 01/20/29							984				960,630
Clean Harbors, Inc., 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 10/08/28							433				428,045
Covanta Holding Corp.(g)
2021 Term Loan B, 11/30/28							705				700,600
2021 Term Loan C, 11/30/28							53				52,479
Creative Artists Agency LLC, 2020 Incremental Term Loan B1, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 11/26/26							1,204				1,200,601
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 4.71%, 12/12/25							1,576				1,566,372
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.76%, 05/09/25							328				321,771
KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.75%, 09/19/26(c)							623				616,631
Packers Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 03/09/28							1,039				1,021,838
Prime Security Services Borrower LLC, 2021 Term Loan, (6 mo. LIBOR + 2.75%, 0.75% Floor), 3.50%, 09/23/26							1,220				1,210,361
Vericast Corp., 2021 Term Loan, (3 mo. LIBOR + 7.75%, 1.00% Floor), 8.76%, 06/16/26							211				174,309
Verscend Holding Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 4.46%, 08/27/25							1,933				1,923,562
Viad Corp., Initial Term Loan, (1 mo. LIBOR + 5.00%), 5.50%, 07/30/28							487				479,257
											14,636,218
Communications Equipment — 0.5%
ViaSat, Inc., Term Loan, (3 mo. LIBOR + 4.50%), 5.00%, 03/04/29							1,560				1,550,280
Construction & Engineering — 2.2%
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.26%, 06/21/24							2,483				2,365,068
New Arclin U.S. Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 7.50%, 09/30/29(c)							572				551,980

Security						Par (000)				Value
Construction & Engineering (continued)
Pike Corp., 2021 Incremental Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 01/21/28			USD				644			$	637,988
SRS Distribution, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 06/02/28							1,815				1,790,439
USIC Holdings, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 05/12/28							1,088				1,075,903
											6,421,378
Construction Materials — 1.5%
Core & Main LP, 2021 Term Loan B, (1 mo. LIBOR + 2.50%), 2.95%, 07/27/28							2,562				2,536,878
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 03/29/25							1,479				1,451,484
Tamko Building Products LLC, Term Loan B, (2 mo. LIBOR + 3.00%), 3.30%, 05/29/26							537				525,015
											4,513,377
Containers & Packaging — 2.0%
BWAY Holding Co., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 3.48%, 04/03/24							1,482				1,458,672
Charter NEX US, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27							2,228				2,208,541
Flex Acquisition Co., Inc., 2021 Term Loan, (3 mo. LIBOR + 3.50%), 4.00%, 03/02/28							597				595,139
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 4.00%), 4.46%, 08/01/26							382				373,296
Tosca Services LLC, 2021 Term Loan, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 08/18/27(c)							731				713,192
Trident TPI Holdings, Inc.
2021 Delayed Draw Term Loan, 4.00%, 09/15/28							56				54,788
2021 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 4.50%, 09/17/28							623				614,499
											6,018,127
Distributors — 1.0%
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 2.46%, 01/15/27							739				728,163
TMK Hawk Parent Corp.
2020 Super Priority First Out Term Loan A, (1 mo. LIBOR + 9.50%, 1.00% Floor), 10.50%, 05/30/24							590				561,393
2020 Super Priority Second Out Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 08/28/24							1,905				1,618,666
											2,908,222
Diversified Consumer Services — 3.5%
2U, Inc., Term Loan, (3 mo. LIBOR + 5.75%, 0.75% Floor), 6.50%, 12/28/24							886				847,899
Amentum Government Services Holdings LLC, 2022 Term Loan, (SOFR + 4.00%), 4.50%, 02/15/29							488				482,510
Ascend Learning, LLC
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 6.25%, 12/10/29							482				478,385
2021 Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 12/10/28							1,193				1,179,381
Bright Horizons Family Solutions LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.75%, 11/23/28							577				569,348
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.21%, 07/11/25							1,392				1,373,826

3

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Diversified Consumer Services (continued)
Midas Intermediate Holdco II LLC, 2020 Term Loan B, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.68%, 12/22/25			USD				1,906			$	1,771,298
Nomad Foods Europe Midco Ltd., 2017 USD Term Loan B4, (3 mo. LIBOR + 2.25%), 2.76%, 05/15/24							693				684,216
Ola Singapore PTE, Ltd., Term Loan, (SOFR + 6.25%, 0.75% Floor), 7.00%, 12/15/26							541				522,398
PAI Holdco, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 10/28/27							315				311,746
Serta Simmons Bedding LLC
2020 Super Priority First Out Term Loan, (1 mo. LIBOR + 7.50%), 8.50%, 08/10/23							288				288,049
2020 Super Priority Second Out Term Loan, (1 mo. LIBOR + 7.50%, 1.00% Floor), 8.50%, 08/10/23							453				426,206
Sotheby’s, 2021 Term Loan B, (3 mo. LIBOR + 4.50%), 5.00%, 01/15/27							1,103				1,101,515
Voyage Australia Pty. Ltd., USD Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 07/20/28							459				453,154
											10,489,931
Diversified Financial Services — 8.8%
Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 4.96%, 07/31/26							632				628,468
Alchemy Copyrights LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 3.50%, 03/10/28(c)							522				520,109
AlixPartners LLP, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 02/04/28							1,076				1,057,695
AqGen Island Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 4.56%, 08/02/28(c)							2,200				2,182,219
Castlelake Aviation Ltd., Term Loan B, (3 mo. LIBOR + 2.75%), 3.25%, 10/22/26							1,444				1,403,452
Cogeco Financing 2 LP, 2021 Incremental Term Loan B, (1 mo. LIBOR + 2.50%), 3.00%, 09/01/28							1,719				1,704,578
Delta TopCo, Inc.
2020 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.00%, 12/01/28							412				403,072
2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 12/01/27							1,074				1,055,538
EG America LLC, 2018 USD Term Loan, (3 mo. LIBOR + 4.00%), 5.00%, 02/07/25							559				549,306
Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 10/01/27(c)							1,923				1,918,553
I-Logic Technologies Bidco Ltd., 2021 USD Term Loan B, (1 mo. LIBOR + 4.00%), 4.50%, 02/16/28							263				260,613
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/03/24							1,032				1,016,279
KKR Apple Bidco LLC
2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), 6.25%, 09/21/29							153				151,758
2021 Term Loan, (1 mo. LIBOR + 3.00%), 3.50%, 09/23/28							374				368,743
LBM Acquisition LLC, Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.21%, 12/18/27							1,516				1,476,482
LEB Holdings (USA), Inc, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 11/02/27							151				150,105
Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 09/25/26							1,499				1,484,820
RVR Dealership Holdings LLC, Term Loan B, (SOFR + 3.75%, 0.75% Floor), 4.50%, 02/08/28							454				431,893

Security						Par (000)				Value
Diversified Financial Services (continued)
Setanta Aircraft Leasing Designated Activity Co., Term Loan B, (3 mo. LIBOR + 2.00%), 3.01%, 11/05/28			USD				826			$	812,924
SMG U.S. Midco 2, Inc., 2020 Term Loan, (3 mo. LIBOR + 2.50%), 2.96%, 01/23/25							947				908,697
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 5.26%, 07/30/25							1,113				1,077,252
Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 6.01%, 09/01/25							4,224				3,940,685
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 02/28/27							910				900,413
White Cap Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.75%), 4.25%, 10/19/27							760				750,551
Ziggo Financing Partnership, USD Term Loan I, (3 mo. LIBOR + 2.50%), 2.90%, 04/30/28							1,003				986,862
											26,141,067
Diversified Telecommunication Services — 2.1%
Cablevision Lightpath LLC, Term Loan B, (3 mo. LIBOR + 3.25%), 3.75%, 11/30/27							351				346,628
Consolidated Communications, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 10/02/27							497				463,935
Frontier Communications Corp., 2021 DIP Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.81%, 05/01/28							1,226				1,205,193
Iridium Satellite LLC, 2021 Term Loan B2, (1 mo. LIBOR + 2.50%, 0.75% Floor), 3.25%, 11/04/26							1,195				1,184,079
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 03/01/27							1,183				1,159,552
Meridian Adhesives Group, Inc., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 07/24/28							1,254				1,232,579
Virgin Media SFA Finance Ltd., GBP Term Loan L, (SONIA CMPD + 3.25%), 3.85%, 01/15/27			GBP				600				771,047
											6,363,013
Electric Utilities — 1.3%
ExGen Renewables IV LLC, 2020 Term Loan, (3 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 12/15/27			USD				818				809,475
Triton Water Holdings, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 4.51%, 03/31/28							3,036				2,955,723
											3,765,198
Electrical Equipment — 1.2%
Arcline FM Holdings LLC, 2021 1st Lien Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 06/23/28							949				935,390
Gates Global LLC, 2021 Term Loan B3, (1 mo. LIBOR + 2.50%, 0.01% Floor), 3.25%, 03/31/27							1,503				1,479,688
II-VI, Inc., 2021 Bridge Term Loan B, 12/01/28(c)(g)							1,070				1,061,975
											3,477,053
Entertainment — 0.4%
MSG National Properties LLC, Term Loan, (3 mo. LIBOR + 6.25%, 0.75% Floor), 7.00%, 11/12/25(c)							1,208				1,201,674
Environmental, Maintenance & Security Service — 0.7%
Asplundh Tree Expert LLC, 2021 Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 09/07/27							1,220				1,204,358
TruGreen LP, 2020 Term Loan, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 11/02/27							752				746,869
											1,951,227

S C H E D U L E   O F   I N V E S T M E N T S 4

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Equity Real Estate Investment Trusts (REITs) — 0.1%
RHP Hotel Properties LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 05/11/24			USD				441			$	434,287
Food & Staples Retailing — 0.3%
U.S. Foods, Inc.
2019 Term Loan B, (3 mo. LIBOR + 2.00%), 2.51%, 09/13/26							396				387,580
2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.26%, 11/22/28							464				457,831
											845,411
Food Products — 2.4%
8th Avenue Food & Provisions, Inc.
2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.21%, 10/01/25							739				639,358
2021 Incremental Term Loan, (1 mo. LIBOR + 4.75%, 0.75% Floor), 5.50%, 10/01/25							949				842,119
Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 10/23/27							1,198				1,175,217
Froneri International Ltd., 2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 2.71%, 01/29/27							2,196				2,153,078
Naked Juice LLC, 2nd Lien Term Loan, (3 mo. LIBOR + 6.00%), 6.65%, 01/24/30							726				722,645
Reynolds Group Holdings, Inc., 2020 Term Loan B2, (1 mo. LIBOR + 3.25%), 3.71%, 02/05/26							248				241,560
Sovos Brands Intermediate, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 06/08/28							938				927,019
UTZ Quality Foods LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 01/20/28							425				418,134
											7,119,130
Gas Utilities — 0.6%
Freeport LNG Investments, LLLP, Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 12/21/28							1,751				1,737,518
Health Care Equipment & Supplies — 1.9%
Electron BidCo, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.25%), 4.26%, 11/01/28							1,361				1,344,778
Insulet Corp., Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 05/04/28(c)							476				471,842
Medline Borrower, LP, USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 10/21/28							2,276				2,252,256
Ortho-Clinical Diagnostics SA, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.23%, 06/30/25							1,154				1,148,872
Venga Finance SARL, 2021 USD Term Loan B, 12/04/28(g)							402				389,545
											5,607,293
Health Care Providers & Services — 3.1%
CCRR Parent, Inc., Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 03/05/28							1,007				1,001,255
CHG Healthcare Services, Inc., 2021 Term Loan, (6 mo. LIBOR + 3.50%), 4.51%, 09/29/28							636				629,250
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.01%, 01/08/27							898				892,691
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 4.20%, 10/10/25							1,188				786,297
EyeCare Partners LLC
2020 Term Loan, (3 mo. LIBOR + 3.75%), 4.76%, 02/18/27							1,042				1,027,392
2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%), 7.76%, 11/15/29							356				353,483

Security						Par (000)				Value
Health Care Providers & Services (continued)
EyeCare Partners LLC (continued)
2021 Delayed Draw Term Loan, 4.76%, 11/15/28			USD				66			$	65,712
2021 Incremental Term Loan, (3 mo. LIBOR + 3.75%), 4.76%, 11/15/28							200				197,135
Femur Buyer, Inc., 1st Lien Term Loan, (3 mo. LIBOR + 4.50%), 5.51%, 03/05/26(c)							649				582,251
Orbcomm, Inc., Term Loan B, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 09/01/28							542				535,814
PetVet Care Centers LLC, 2021 Term Loan B3, (1 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 02/14/25							33				32,379
Sotera Health Holdings LLC, 2021 Term Loan, (3 mo. LIBOR + 2.75%), 3.25%, 12/13/26							1,564				1,541,838
WP CityMD Bidco LLC, 2021 1st Lien Term Loan B, (6 mo. LIBOR + 3.25%), 3.75%, 12/23/28							1,516				1,506,488
											9,151,985
Health Care Services — 0.7%
Azalea Topco, Inc., Term Loan, (3 mo. LIBOR + 3.50%), 3.80%, 07/25/26							602				592,908
Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%), 7.50%, 11/01/29							377				361,920
Unified Physician Management LLC, 2020 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 12/18/27							1,148				1,133,960
											2,088,788
Health Care Technology — 3.3%
Athenahealth, Inc., 2022 Term Loan B, (SOFR + 3.50%), 4.00%, 02/15/29							1,783				1,760,780
Change Healthcare Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 03/01/24							852				846,685
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 10/10/25							1,352				1,339,084
IQVIA, Inc., 2017 USD Term Loan B1, (1 mo. LIBOR + 1.75%), 2.21%, 03/07/24							292				289,164
Polaris Newco LLC, USD Term Loan B, (1 mo. LIBOR + 4.00%), 4.50%, 06/04/28							2,699				2,670,286
Press Ganey Holdings, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 07/25/26							1,041				1,033,430
Verscend Holding Corp., 2021 2nd Lien Term Loan, (1 mo. LIBOR + 7.00%), 7.50%, 04/02/29(c)							1,902				1,882,980
											9,822,409
Hotels, Restaurants & Leisure — 6.4%
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 2.21%, 11/19/26							1,006				982,910
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 4.21%, 02/02/26							263				257,314
Caesars Resort Collection LLC
2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 3.21%, 12/23/24							967				960,478
2020 Term Loan B1, (1 mo. LIBOR + 3.50%), 3.96%, 07/20/25							753				749,914
Churchill Downs, Inc., 2021 Incremental Term Loan B1, (1 mo. LIBOR + 2.00%), 2.46%, 03/17/28							480				473,742
ECL Entertainment LLC, Term Loan, (1 mo. LIBOR + 7.50%, 0.75% Floor), 8.25%, 03/31/28							569				571,012
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.01%, 03/08/24							2,748				2,577,150
Fertitta Entertainment LLC, 2022 Term Loan B, (SOFR + 4.00%), 4.50%, 01/27/29							2,102				2,089,103

5

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Hotels, Restaurants & Leisure (continued)
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 2.46%, 11/30/23			USD				809			$	823,774
Golden Nugget, Inc., 2020 Initial Term Loan, (1 mo. LIBOR + 12.00%, 1.00% Floor), 13.00%, 10/04/23(c)							110				116,265
IRB Holding Corp., 2020 Term Loan B, (6 mo. LIBOR + 2.75%, 1.00% Floor), 3.76%, 02/05/25							979				968,256
Playtika Holding Corp., 2021 Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 03/11/28							1,214				1,194,150
Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 3.21%, 08/14/24							789				785,661
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 3.26%, 07/21/26							690				684,217
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 02/08/27							1,270				1,250,848
Travelport Finance Luxembourg SARL(e)
2020 Super Priority Term Loan, (7.25% PIK), 2.51%, 02/28/25							859				873,252
2021 Consented Term Loan, (1.75% PIK), 6.01%, 05/29/26							1,380				1,212,919
Twin River Worldwide Holdings, Inc., 2021 Term Loan B, (6 mo. LIBOR + 3.25%), 3.75%, 10/01/28							558				554,514
Whatabrands LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 08/03/28							1,405				1,387,038
Wyndham Hotels & Resorts, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 05/30/25							339				335,082
											18,847,599
Household Durables — 1.9%
ACProducts Holdings, Inc., 2021 Term Loan B, (6 mo. LIBOR + 4.25%), 4.75%, 05/17/28							1,721				1,547,816
Reynolds Consumer Products LLC, Term Loan, (1 mo. LIBOR + 1.75%), 2.21%, 02/04/27							933				915,987
Snap One Holdings Corp., Term Loan B, (3 mo. LIBOR + 4.50%), 5.51%, 12/08/28							667				654,260
Solis IV BV, USD Term Loan B1, (3 mo. LIBOR + 3.50%), 4.00%, 02/26/29							1,394				1,364,377
Springs Windows Fashions LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/06/28							512				495,785
Weber-Stephen Products LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 10/30/27							600				579,851
											5,558,076
Household Products — 0.1%
Spectrum Brands, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.00%), 2.50%, 03/03/28							332				326,884
Independent Power and Renewable Electricity Producers — 0.5%
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 01/15/25							312				306,591
Calpine Corp.
2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 2.46%, 08/12/26							470				462,403
Term Loan B9, (1 mo. LIBOR + 2.00%), 2.46%, 04/06/26							874				859,998
											1,628,992
Industrial Conglomerates — 2.8%
AVSC Holding Corp.(e)
2020 Term Loan B1, (0.25% PIK), 4.25%, 03/03/25							1,811				1,702,335

Security						Par (000)				Value
Industrial Conglomerates (continued)
AVSC Holding Corp.(e) (continued)
2020 Term Loan B3, (10.00% PIK), 5.00%, 10/15/26			USD				789			$	910,310
Diamond BC BV, 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 09/29/28							1,192				1,166,384
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 7.75%, 11/28/23							810				810,156
Stitch Aquisition Corp., Term Loan B, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.76%, 07/28/28							675				631,784
Vertical US Newco, Inc., Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 07/30/27							1,173				1,163,696
Vertiv Group Corp., 2021 Term Loan B, (1 mo. LIBOR + 2.75%), 2.99%, 03/02/27							1,819				1,771,189
											8,155,854
Insurance — 4.4%
Alliant Holdings Intermediate LLC
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 05/09/25							1,784				1,762,187
2021 Term Loan B4, (1 mo. LIBOR + 3.50%), 4.00%, 11/06/27							2,357				2,339,191
Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 05/09/25							630				622,667
AmWINS Group, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%, 0.75% Floor), 3.00%, 02/19/28							1,197				1,175,791
AssuredPartners, Inc.
2020 Term Loan B, (1 mo. LIBOR + 3.50%), 3.96%, 02/13/27							629				620,080
2021 Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 02/12/27							608				599,775
Hub International Ltd.
2018 Term Loan B, (2 mo. LIBOR + 3.00%), 3.27%, 04/25/25							1,769				1,747,395
2021 Term Loan B, (3 mo. LIBOR + 3.25%, 0.75% Floor), 4.00%, 04/25/25							1,661				1,648,855
NFP Corp., 2020 Term Loan, (1 mo. LIBOR + 3.25%), 3.71%, 02/13/27							115				113,176
Ryan Specialty Group LLC, Term Loan, (1 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 09/01/27							707				700,882
Sedgwick Claims Management Services, Inc.
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.71%, 12/31/25							488				482,713
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 4.21%, 09/03/26							627				621,859
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 09/03/26							509				505,476
											12,940,047
Interactive Media & Services — 2.8%
Adevinta ASA, USD Term Loan B, (3 mo. LIBOR + 2.75%, 0.75% Floor), 3.76%, 06/26/28							1,534				1,508,453
Arches Buyer, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 12/06/27							1,463				1,437,074
Camelot U.S. Acquisition 1 Co., 2020 Incremental Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 10/31/26							1,750				1,731,267

S C H E D U L E   O F   I N V E S T M E N T S 6

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Interactive Media & Services (continued)
Go Daddy Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.45%, 08/10/27			USD				454			$	449,965
Grab Holdings, Inc., Term Loan B, (6 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 01/29/26							3,142				3,063,358
											8,190,117
Internet & Direct Marketing Retail — 0.5%
CNT Holdings I Corp., 2020 Term Loan, (3 mo. LIBOR + 3.50%, 0.75% Floor), 4.25%, 11/08/27							1,286				1,278,206
PUG LLC, 2021 Incremental Term Loan B, (1 mo. LIBOR + 4.25%), 4.75%, 02/13/27(c)							229				227,134
											1,505,340
Internet Software & Services — 0.3%
Uber Technologies, Inc., 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 3.96%, 02/25/27							907				902,796
IT Services — 7.2%
Aruba Investments, Inc.
2020 2nd Lien Term Loan, (6 mo. LIBOR + 7.75%, 0.75% Floor), 8.50%, 11/24/28							885				873,937
2020 USD Term Loan, (6 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 11/24/27							474				468,277
Banff Merger Sub, Inc., 2021 USD Term Loan, (3 mo. LIBOR + 3.75%), 4.21%, 10/02/25							1,263				1,253,997
Camelot U.S. Acquisition 1 Co., Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 10/31/26							1,355				1,338,156
CCC Intelligent Solutions, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 3.26%, 09/21/28							1,045				1,033,881
CoreLogic, Inc.
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 7.00%, 06/04/29							873				859,207
Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 06/04/28							2,578				2,544,221
Fleetcor Technologies Operating Co. LLC, 2021 Term Loan B4, (1 mo. LIBOR + 1.75%), 2.21%, 04/30/28							1,261				1,237,704
Greeneden U.S. Holdings II LLC, 2020 USD Term Loan B4, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 12/01/27							3,090				3,082,377
Optiv Security, Inc., 1st Lien Term Loan, (6 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 02/01/24							271				263,861
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 02/13/27							1,568				1,534,544
Sophia LP, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.00%, 1.00% Floor), 9.01%, 10/09/28							2,590				2,635,325
Trans Union LLC
2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 2.21%, 11/16/26							1,153				1,135,206
2021 Term Loan B6, (1 mo. LIBOR + 2.25%), 2.75%, 12/01/28							1,616				1,602,077
Virtusa Corp., 1st Lien Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28(c)							647				640,005
WEX, Inc., 2021 Term Loan, (1 mo. LIBOR + 2.25%), 2.71%, 03/31/28							605				596,790
ZoomInfo LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 02/02/26							135				134,325
											21,233,890

Security						Par (000)				Value
Leisure Products — 0.4%
Fender Musical Instruments Corp., 2021 Term Loan B, (SOFR + 4.00%), 4.50%, 12/01/28			USD				605			$	599,521
MND Holdings III Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.51%, 06/19/24							615				605,500
											1,205,021
Life Sciences Tools & Services — 3.2%
Avantor Funding, Inc.
2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.50%, 11/21/24							213				210,580
2021 Term Loan B5, (1 mo. LIBOR + 2.25%), 2.75%, 11/08/27							1,775				1,758,505
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 02/04/27							2,722				2,708,613
ICON Luxembourg SARL
LUX Term Loan, (3 mo. LIBOR + 2.25%), 3.31%, 07/01/28							1,559				1,550,002
US Term Loan, (3 mo. LIBOR + 2.25%), 3.31%, 07/01/28							388				386,185
Maravai Intermediate Holdings LLC, 2022 Term Loan B, (3 mo. LIBOR + 3.00%), 3.50%, 10/19/27(c)							758				754,813
Parexel International Corp., 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 11/15/28							2,118				2,100,997
											9,469,695
Machinery — 3.8%
Albion Financing 3 SARL, USD Term Loan, (3 mo. LIBOR + 5.25%), 5.75%, 08/17/26							1,141				1,128,849
ASP Blade Holdings, Inc., Initial Term Loan, (1 mo. LIBOR + 4.00%), 4.50%, 10/15/28							419				412,831
Clark Equipment Co., 2021 Incremental Term Loan, (3 mo. LIBOR + 2.25%), 3.26%, 05/18/24							837				833,279
Columbus McKinnon Corp., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.81%, 05/14/28							254				249,471
Filtration Group Corp., 2021 Incremental Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 10/21/28							731				720,218
Fluidra SA, 2022 USD Term Loan B, (SOFR + 2.00%), 2.50%, 01/29/29							192				190,737
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. LIBOR + 1.75%), 2.21%, 02/28/27							1,389				1,363,497
Madison IAQ LLC, Term Loan, (6 mo. LIBOR + 3.25%), 4.52%, 06/21/28							2,544				2,503,510
SPX Flow, Inc., 03/16/29(g)							857				834,144
Titan Acquisition Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 4.01%, 03/28/25							2,932				2,864,466
Zurn LLC, 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.75%, 10/04/28							78				77,286
											11,178,288
Media — 12.1%
A-L Parent LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/01/23							1,588				1,507,208
Altice Financing SA
2017 USD Term Loan B, (3 mo. LIBOR + 2.75%), 2.99%, 07/15/25							693				674,205
USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 2.75%), 2.99%, 01/31/26							958				921,336
Altice France SA, 2018 Term Loan B13, (3 mo. LIBOR + 4.00%), 4.51%, 08/14/26							2,147				2,104,654
AMC Entertainment Holdings, Inc., 2019 Term Loan B, 04/22/26(g)							590				524,624

7

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Media (continued)
Cable One, Inc., 2021 Term Loan B4, (1 mo. LIBOR + 2.00%), 2.46%, 05/03/28			USD				304			$	298,846
Charter Communications Operating LLC, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 2.21%, 04/30/25							1,616				1,608,462
City Football Group Ltd., Term Loan, (6 mo. LIBOR + 3.50%), 4.00%, 07/21/28							983				962,635
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 3.80%, 08/21/26							2,359				2,316,329
CMG Media Corp., 2021 Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 12/17/26							—	(h)			143
Connect Finco SARL, 2021 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 12/12/26							3,488				3,454,863
CSC Holdings LLC
2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 2.65%, 07/17/25							1,315				1,291,689
2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 2.90%, 04/15/27							1,297				1,272,315
E.W. Scripps Co., 2020 Term Loan B3, (1 mo. LIBOR + 3.00%, 0.75% Floor), 3.75%, 01/07/28							528				523,637
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 03/24/25							822				809,115
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 2.25%, 10/19/26							1,567				1,531,409
MH Sub I LLC
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.96%, 09/13/24							1,903				1,877,584
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 09/15/24							1,801				1,778,644
2021 2nd Lien Term Loan, (1 mo. LIBOR + 6.25%), 6.71%, 02/23/29							764				755,405
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 2.73%, 09/19/26							828				824,244
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 09/28/23(c)							2,539				2,513,185
Trader Interactive LLC, 2021 Term Loan B, (1 mo. LIBOR + 4.00%), 4.50%, 07/28/28(c)							347				342,098
UPC Financing Partnership, 2021 USD Term Loan AX, (3 mo. LIBOR + 3.00%), 3.40%, 01/31/29							356				350,809
Virgin Media Bristol LLC
2020 USD Term Loan Q, (1 mo. LIBOR + 3.25%), 3.65%, 01/31/29							913				906,728
USD Term Loan N, (3 mo. LIBOR + 2.50%), 2.90%, 01/31/28							609				600,854
Voyage Digital Ltd., 03/03/29(c)(g)							628				615,440
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 3.21%, 05/18/25							2,009				1,971,463
WMG Acquisition Corp., 2021 Term Loan G, (1 mo. LIBOR + 2.12%), 2.58%, 01/20/28							412				407,380
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 03/09/27							3,056				2,971,402
											35,716,706
Oil, Gas & Consumable Fuels — 1.9%
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 4.21%, 12/13/25							754				693,325
Lealand Finance Co. BV
2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 3.46%, 06/28/24(c)							25				14,951
2020 Take Back Term Loan, (1 mo. LIBOR + 1.00%), 1.46%, 06/30/25							181				90,024

Security						Par (000)				Value
Oil, Gas & Consumable Fuels (continued)
Lucid Energy Group II Borrower LLC, 2021 Term Loan, (1 mo. LIBOR + 4.25%, 0.75% Floor), 5.00%, 11/24/28			USD				1,489			$	1,479,344
Medallion Midland Acquisition, LLC, 10/18/28(g)							1,197				1,182,792
Murphy USA, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 2.25%, 01/31/28(c)							397				397,000
Oryx Midstream Services Permian Basin LLC, Term Loan B, 09/30/28(g)							1,942				1,924,059
											5,781,495
Personal Products — 1.4%
Kronos Acquisition Holdings, Inc., 2021 1st Lien Term Loan, (SOFR + 6.00%, 1.00% Floor), 7.00%, 12/22/26							253				250,938
Prestige Brands, Inc., 2021 Term Loan B5, (1 mo. LIBOR + 2.00%), 2.50%, 07/01/28							143				141,938
Sunshine Luxembourg VII SARL, 2021 Term Loan B3, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.76%, 10/01/26							3,767				3,738,776
											4,131,652
Pharmaceuticals — 3.4%
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 05/04/25							753				740,651
Bausch Health Americas Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.46%, 06/02/25							1,856				1,839,290
Bausch Health Cos., Inc., 2022 Term Loan B, 01/27/27(g)							1,489				1,472,249
Catalent Pharma Solutions, Inc., 2021 Term Loan B3, (1 mo. LIBOR + 2.00%), 2.50%, 02/22/28(c)							1,306				1,299,108
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 1.98%, 08/01/27							747				734,163
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.46%, 11/15/27							982				963,807
Jazz Financing Lux SARL, USD Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 05/05/28							1,398				1,391,972
Organon & Co., USD Term Loan, (3 mo. LIBOR + 3.00%), 3.56%, 06/02/28							985				979,220
Precision Medicine Group LLC, 2021 Term Loan, (3 mo. LIBOR + 3.00%, 0.75% Floor), 4.01%, 11/18/27							806				788,669
											10,209,129
Professional Services — 0.6%
Dun & Bradstreet Corp.
2022 Incremental Term Loan B2, (SOFR + 3.25%), 3.56%, 01/18/29(c)							443				438,570
Term Loan, (1 mo. LIBOR + 3.25%), 3.70%, 02/06/26							1,491				1,475,166
											1,913,736
Real Estate Management & Development — 0.8%
Chamberlain Group, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 4.51%, 11/03/28							1,527				1,506,815
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 3.21%, 08/21/25							895				881,636
											2,388,451
Road & Rail — 0.2%
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 5.50%), 5.80%, 08/04/25							736				673,146
Semiconductors & Semiconductor Equipment — 0.1%
Synaptics, Inc., Term Loan B, (3 mo. LIBOR + 2.25%), 2.75%, 12/02/28							389				386,979
Software — 16.0%
Applied Systems, Inc.
2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 5.50%, 09/19/24							306				303,343

S C H E D U L E   O F   I N V E S T M E N T S 8

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Software (continued)
Applied Systems, Inc. (continued)
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.50%, 0.75% Floor), 6.51%, 09/19/25			USD				439			$	435,914
Barracuda Networks, Inc.
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.73%, 02/12/25							1,281				1,274,463
2020 2nd Lien Term Loan, (3 mo. LIBOR + 6.75%, 0.75% Floor), 7.50%, 10/30/28							535				531,656
Cloudera, Inc.
2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%), 6.50%, 10/08/29(c)							916				899,970
2021 Term Loan, (1 mo. LIBOR + 3.75%), 4.25%, 10/08/28							1,852				1,826,535
ConnectWise LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.50%), 4.00%, 09/30/28							629				624,387
Cornerstone OnDemand, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%), 4.25%, 10/15/28							742				733,652
Digicel International Finance Ltd., 2017 Term Loan B, (6 mo. LIBOR + 3.25%), 3.50%, 05/27/24							799				758,793
E2open LLC, 2020 Term Loan B, (3 mo. LIBOR + 3.50%), 4.00%, 02/04/28							177				174,541
Epicor Software Corp., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 8.75%, 07/31/28							1,316				1,340,675
Helios Software Holdings, Inc., 2021 USD Term Loan B, (6 mo. LIBOR + 3.75%), 5.25%, 03/11/28							1,315				1,300,978
Informatica LLC, 2021 USD Term Loan B, (1 mo. LIBOR + 2.75%), 3.25%, 10/29/28							3,183				3,146,099
Instructure Holdings, Inc., 2021 Term Loan B, (3 mo. LIBOR + 2.75%), 3.27%, 10/29/28(c)							453				450,735
IPS Corp.
2021 2nd Lien Term Loan B, (1 mo. LIBOR + 7.00%), 7.50%, 10/01/29							645				631,023
2021 Term Loan, (1 mo. LIBOR + 3.50%), 4.00%, 10/01/28							363				353,868
Magenta Buyer LLC
2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 5.00%, 0.75% Floor), 5.75%, 07/27/28							3,716				3,672,091
2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor), 9.00%, 07/27/29							1,809				1,788,649
McAfee LLC, 2022 USD Term Loan B, (3 mo. LIBOR + 4.00%), 4.50%, 03/01/29							2,154				2,135,152
Netsmart Technologies, Inc., 2020 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 10/01/27							968				962,154
Planview Parent, Inc.
2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.26%, 12/18/28(c)							572				566,280
Term Loan, (3 mo. LIBOR + 4.00%, 0.75% Floor), 5.01%, 12/17/27							1,324				1,305,902
Proofpoint, Inc.
1st Lien Term Loan, (3 mo. LIBOR + 3.25%), 3.76%, 08/31/28							1,866				1,844,277
2nd Lien Term Loan, (3 mo. LIBOR + 6.25%), 6.76%, 08/31/29							895				889,684
RealPage, Inc.
1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.75%, 04/22/28							3,900				3,851,120
2nd Lien Term Loan, (1 mo. LIBOR + 6.50%, 0.75% Floor), 7.25%, 04/22/29							1,825				1,827,388

Security						Par (000)				Value
Software (continued)
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.71%, 05/30/25			USD				419			$	413,182
Severin Acquisition LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.45%, 08/01/25							1,782				1,759,157
Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.25%), 4.26%, 10/07/27							1,361				1,342,781
Tempo Acquisition LLC, 2022 Term Loan B, (SOFR + 3.00%), 3.50%, 08/31/28							2,985				2,961,536
Tibco Software Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.71%, 03/04/28							1,799				1,792,735
Ultimate Software Group, Inc.
2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%), 5.75%, 05/03/27							1,150				1,139,595
2021 Term Loan, (3 mo. LIBOR + 3.25%), 3.75%, 05/04/26							2,691				2,666,274
Term Loan B, (3 mo. LIBOR + 3.75%), 4.76%, 05/03/26							1,780				1,771,362
											47,475,951
Specialty Retail — 4.6%
Belron Finance U.S. LLC
2018 Term Loan B, (3 mo. LIBOR + 2.25%), 2.69%, 11/13/25							270				267,457
2019 USD Term Loan B3, (3 mo. LIBOR + 2.25%), 2.56%, 10/30/26							660				651,981
2021 USD Term Loan B, (3 mo. LIBOR + 2.75%), 3.25%, 04/13/28							1,714				1,700,035
CD&R Firefly Bidco Ltd., 2018 GBP Term Loan B1, (SONIA CMPD + 4.50%), 4.96%, 06/23/25			GBP				1,000				1,280,480
EG Group Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.25%), 5.25%, 03/31/26			USD				352				345,942
Fanatics Commerce Intermediate Holdco LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 3.75%, 11/24/28							424				419,698
Mavis Tire Express Services Corp., 2021 Term Loan B, (1 mo. LIBOR + 4.00%, 0.75% Floor), 4.75%, 05/04/28							1,862				1,847,705
MED ParentCo LP, 1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 4.71%, 08/31/26							1,061				1,048,610
Medical Solutions LLC, 2021 First Lien Term Loan, (3 mo. LIBOR + 3.50%), 4.51%, 11/01/28							1,521				1,505,397
PetSmart, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 02/11/28							3,269				3,255,837
Research Now Group, Inc., 2017 1st Lien Term Loan, (6 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 12/20/24							610				598,356
WOOF Holding, Inc.
1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.68%, 12/21/27							338				334,636
2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 8.18%, 12/21/28							345				340,256
											13,596,390
Technology Hardware, Storage & Peripherals — 0.2%
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR + 5.00%), 5.46%, 07/23/26							630				615,048
Textiles, Apparel & Luxury Goods — 0.4%
Crocs, Inc., Term Loan B, (SOFR + 3.50%), 3.50%, 02/17/29							1,175				1,144,368
Trading Companies & Distributors — 0.9%
Beacon Roofing Supply, Inc., 2021 Term Loan B, (1 mo. LIBOR + 2.25%), 2.71%, 05/19/28							852				838,528

9

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT) (Percentages shown are based on Net Assets)

Security						Par (000)				Value
Trading Companies & Distributors (continued)
Foundation Building Materials Holding Co. LLC, 2021 Term Loan, (3 mo. LIBOR + 3.25%), 3.75%, 01/31/28			USD				940			$	922,403
ION Trading Finance Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%), 5.76%, 04/01/28							419				414,994
SRS Distribution, Inc., 2022 Incremental Term Loan, (SOFR + 3.50%), 4.00%, 06/04/28							616				606,825
											2,782,750
Wireless Telecommunication Services — 1.1%
GOGO Intermediate Holdings LLC, Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 04/30/28							679				673,080
MetroNet Systems Holdings LLC, 2021 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 4.50%, 06/02/28							439				433,544
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 2.21%, 04/11/25							2,069				2,041,721
											3,148,345
Total Floating Rate Loan Interests — 143.7% (Cost: $429,664,695)											425,995,856
						Shares
Investment Companies
Fixed Income Funds — 0.3%
Invesco Senior Loan ETF							35,400				770,658
Total Investment Companies — 0.3% (Cost: $773,607)											770,658
						Benefical Interest (000)
Other Interests(c)(i)
IT Services — 0.0%
Millennium Corp.			USD				930				—
Millennium Lender Claim Trust(c)							991				—
Total Other Interests — 0.0% (Cost: $ — )											—

Security		Shares				Value
Warrants
Metals & Mining — 0.0%
Ameriforge Group, Inc. (Expires 06/08/24)(b)			2,642			$	—
Oil, Gas & Consumable Fuels — 0.0%
California Resources Corp. (Expires 10/24/24)(b)			617				8,879
Total Warrants — 0.0% (Cost: $ — )							8,879
Total Investments — 145.7% (Cost: $437,684,191)							431,649,078
Liabilities in Excess of Other Assets — (45.7)%							(135,312,325	)
Net Assets — 100.0%						$	296,336,753

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

^(b)  Non-income producing security.

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

^(d)  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.

^(e)  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.

^(f)  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.

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

^(h)  Rounds to less than 1,000.

⁽ⁱ⁾  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.

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer		Value at 12/31/21				Purchases at Cost				Proceeds from Sales				Net Realized Gain (Loss)				Change in Unrealized Appreciation (Depreciation)				Value at 03/31/22				Shares Held at 03/31/22				Income				Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class(a)		$	—			$	—	(b)		$	—			$	—			$	—			$	—				—			$	29			$	—

^(a)  As of period end, the entity is no longer held.

^(b)  Represents net amount purchased (sold).

S C H E D U L E   O F   I N V E S T M E N T S 10

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT)

Derivative Financial Instruments Outstanding as of Period End

Forward Foreign Currency Exchange Contracts

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized Appreciation (Depreciation)

USD

2,028,518

GBP

1,555,000

Toronto-Dominion Bank

06/15/22

$

(13,615

)

Centrally Cleared Credit Default Swaps — Sell Protection

Reference Obligation/Index

Financing Rate Received by the Trust

Payment Frequency

Termination Date

Credit Rating

(a)

Notional Amount (000)

(b)

Value

Upfront Premium Paid (Received)

Unrealized Appreciation (Depreciation)

CDX.NA.HY.37.V1

5.00

%

Quarterly

12/20/26

B+

USD     3,500

$

225,963

$

247,841

$

(21,878

)

^(a)  Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

^(b) The maximum potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement.

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 financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above.

		Level 1				Level 2				Level 3				Total
Assets
Investments
Long-Term Investments
Common Stocks
Auto Components		$	25,381			$	—			$	—			$	25,381
Construction & Engineering			50,585				—				—				50,585
Household Durables			—				—				—				—
Metals & Mining			—				832				542				1,374
Oil, Gas & Consumable Fuels			56,002				—				—				56,002
Software			507				—				—				507
Specialty Retail			—				363,197				—				363,197
Corporate Bonds			—				4,376,639				—				4,376,639
Floating Rate Loan Interests			—				400,270,413				25,725,443				425,995,856
Investment Companies			770,658				—				—				770,658

11

Schedule of Investments (unaudited) (continued) March 31, 2022 BlackRock Floating Rate Income Trust (BGT)

Fair Value Hierarchy as of Period End (continued)

		Level 1				Level 2				Level 3				Total
Other Interests		$	—			$	—			$	—			$	—
Warrants			8,879				—				—				8,879
Liabilities
Unfunded Floating Rate Loan Interests			—				(9,707	)			—				(9,707	)
		$	912,012			$	405,001,374			$	25,725,985			$	431,639,371
Derivative Financial Instruments(a)
Liabilities
Credit Contracts		$	—			$	(21,878	)		$	—			$	(21,878	)
Foreign Currency Exchange Contracts			—				(13,615	)			—				(13,615	)
		$	—			$	(35,493	)		$	—			$	(35,493	)

^(a)  Derivative financial instruments are swaps and forward foreign currency exchange contracts. Swaps and 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 reporting purposes. As of period end, bank borrowings payable of $133,000,000 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				Unfunded Floating Rate Loan Interests				Total
Assets
Opening balance, as of December 31, 2021		$	486			$	—	(a)		$	17,379,496				—	(a)			(182	)		$	17,379,800
Transfers into Level 3(b)			—				—				15,215,761				—				—				15,215,761
Transfers out of Level 3(c)			—				—				(6,377,758	)			—				182				(6,377,576	)
Accrued discounts/premiums			—				—				6,873				—				—				6,873
Net realized gain (loss)			—				—				9,685				—				—				9,685
Net change in unrealized appreciation (depreciation)(d)			56				—				(289,169	)			—				—				(289,113	)
Purchases			—				—				1,818,765				—				—				1,818,765
Sales			—				—				(2,038,210	)			—				—				(2,038,210	)
Closing balance, as of March 31, 2022		$	542			$	—	(a)		$	25,725,443				—	(a)			—			$	25,725,985
Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2022(d)		$	56			$	—			$	(263,645	)			—				—			$	(263,589	)

^(a)  Rounds to less than $1.

^(b)  As of December 31, 2021, the Trust used observable inputs in determining the value of certain investments. As of March 31, 2022, the Trust used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy.

^(c)  As of December 31, 2021, the Trust used significant unobservable inputs in determining the value of certain investments. As of March 31, 2022, 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.

^(d)  Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at March 31, 2022 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.

Currency Abbreviation
GBP		British Pound
USD		United States Dollar
Portfolio Abbreviation
DIP		Debtor-In-Possession
ETF		Exchange-Traded Fund
LIBOR		London Interbank Offered Rate
PIK		Payment-in-Kind

Portfolio Abbreviation (continued)
SOFR		Secured Overnight Financing Rate
SONIA		Sterling Overnight Interbank Average Rate

S C H E D U L E   O F   I N V E S T M E N T S 12