Schedule of Investments (unaudited) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Asset-Backed Securities | ||||||||||||
Unique Pub Finance Co. PLC, Series N, 6.46%, 03/30/32 | GBP | 100 | $ | 122,014 | ||||||||
|
| |||||||||||
Total Asset-Backed Securities — 0.0% |
| 122,014 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Common Stocks | ||||||||||||
Diversified Financial Services — 0.0% | ||||||||||||
Kcad Holdings I Ltd.(a)(b) | 1,075,282,733 | 10,753 | ||||||||||
|
| |||||||||||
Energy Equipment & Services(b) — 0.1% | ||||||||||||
Mcdermott International Ltd. | 141,483 | 339,559 | ||||||||||
Pioneer Energy Services Corp.(a) | 809 | 31,416 | ||||||||||
|
| |||||||||||
370,975 | ||||||||||||
Health Care Management Services — 0.0% | ||||||||||||
New Millennium HoldCo, Inc.(b) | 10,718 | 11 | ||||||||||
|
| |||||||||||
Media(b) — 0.0% | ||||||||||||
Adelphia Communications Corp., Class A(a)(c)(d) | 400,000 | 4 | ||||||||||
Adelphia Recovery Trust | 396,568 | 317 | ||||||||||
|
| |||||||||||
321 | ||||||||||||
Metals & Mining — 0.0% | ||||||||||||
Ameriforge Group, Inc.(b) | 1,664 | 27,456 | ||||||||||
Preferred Proppants LLC(a) | 14,576 | 58,304 | ||||||||||
|
| |||||||||||
85,760 | �� | |||||||||||
Semiconductors & Semiconductor Equipment(b) — 0.0% | ||||||||||||
Maxeon Solar Technologies Ltd | 213 | 3,612 | ||||||||||
SunPower Corp | 1,707 | 21,355 | ||||||||||
|
| |||||||||||
24,967 | ||||||||||||
Software — 0.0% | ||||||||||||
Avaya Holdings Corp.(b) | 40 | 608 | ||||||||||
|
| |||||||||||
Specialty Retail — 0.0% | ||||||||||||
NMG Parent LLC | 1,477 | 62,756 | ||||||||||
|
| |||||||||||
Total Common Stocks — 0.1% | 556,151 | |||||||||||
|
| |||||||||||
Par (000) | ||||||||||||
Corporate Bonds | ||||||||||||
Aerospace & Defense — 0.7% | ||||||||||||
Bombardier, Inc.(c) | USD | 7 | 7,091 | |||||||||
6.13%, 01/15/23 | 664 | 567,720 | ||||||||||
7.50%, 12/01/24 | 58 | 44,515 | ||||||||||
7.50%, 03/15/25 | 14 | 10,500 | ||||||||||
7.88%, 04/15/27 | 19 | 14,410 | ||||||||||
F-Brasile SpA/F-Brasile US LLC, Series XR, 7.38%, 08/15/26(c) | 200 | 169,000 | ||||||||||
Howmet Aerospace, Inc., | 15 | 15,900 | ||||||||||
Rolls-Royce PLC, 0.88%, 05/09/24 | EUR | 100 | 101,570 | |||||||||
Signature Aviation US Holdings, Inc.(c) |
| |||||||||||
5.38%, 05/01/26 | USD | 42 | 42,420 | |||||||||
4.00%, 03/01/28 | 196 | 182,280 |
Security | Par (000) | Value | ||||||||||
Aerospace & Defense (continued) | ||||||||||||
Spirit AeroSystems, Inc., 5.50%, 01/15/25 | 58 | $ | 58,000 | |||||||||
TransDigm, Inc.(c) | USD | 656 | 713,400 | |||||||||
6.25%, 03/15/26 | 1,173 | 1,224,958 | ||||||||||
Triumph Group, Inc., 8.88%, 06/01/24(c) | 218 | 232,170 | ||||||||||
Wolverine Escrow LLC, 9.00%, 11/15/26(c) | 501 | 413,325 | ||||||||||
|
| |||||||||||
3,797,259 | ||||||||||||
Air Freight & Logistics — 0.0% | ||||||||||||
XPO Logistics, Inc., 6.25%, 05/01/25(c) | 35 | 37,402 | ||||||||||
|
| |||||||||||
Airlines — 1.1% | ||||||||||||
Allegiant Travel Co., 8.50%, 02/05/24 | 1,065 | 1,065,000 | ||||||||||
American Airlines, Inc., 11.75%, 07/15/25(c) | 2,133 | 2,058,345 | ||||||||||
Delta Air Lines, Inc./SkyMiles IP Ltd.(c) | 75 | 77,014 | ||||||||||
4.75%, 10/20/28 | 225 | 233,613 | ||||||||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27(c) | 2,172 | 2,261,595 | ||||||||||
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25(c) | 25 | 26,362 | ||||||||||
|
| |||||||||||
5,721,929 | ||||||||||||
Auto Components — 0.3% | ||||||||||||
Clarios Global LP, 6.75%, 05/15/25(c) | 621 | 653,602 | ||||||||||
Clarios Global LP/Clarios US Finance Co. | EUR | 100 | 117,392 | |||||||||
6.25%, 05/15/26(c) | USD | 122 | 127,923 | |||||||||
8.50%, 05/15/27(c) | 229 | 236,442 | ||||||||||
Goodyear Tire & Rubber Co. (The), 9.50%, 05/31/25 | 65 | 70,525 | ||||||||||
Venture Holdings Co. LLC, 12.00%, 07/01/49(a)(b)(d) | 5,150 | 1 | ||||||||||
ZF Finance GmbH | EUR | 100 | 114,017 | |||||||||
3.75%, 09/21/28 | 100 | 113,435 | ||||||||||
|
| |||||||||||
1,433,337 | ||||||||||||
Automobiles — 0.8% | ||||||||||||
Allison Transmission, Inc., | USD | 145 | 156,817 | |||||||||
Asbury Automotive Group, Inc.(c) | 75 | 75,469 | ||||||||||
4.75%, 03/01/30 | 73 | 73,547 | ||||||||||
AutoNation, Inc., 4.75%, 06/01/30 | 93 | 109,574 | ||||||||||
FCE Bank PLC, 1.62%, 05/11/23 | EUR | 100 | 112,848 | |||||||||
Ford Motor Co. | USD | 169 | 184,210 | |||||||||
4.35%, 12/08/26 | 9 | 8,884 | ||||||||||
4.75%, 01/15/43 | 176 | 159,355 | ||||||||||
5.29%, 12/08/46 | 78 | 73,174 | ||||||||||
Ford Motor Credit Co. LLC | 200 | 198,000 | ||||||||||
4.06%, 11/01/24 | 200 | 199,750 | ||||||||||
5.13%, 06/16/25 | 423 | 436,219 | ||||||||||
General Motors Co. | 581 | 674,924 | ||||||||||
6.80%, 10/01/27 | 296 | 360,511 | ||||||||||
5.00%, 10/01/28 | 19 | 21,365 | ||||||||||
General Motors Financial Co., Inc. | 574 | 587,270 | ||||||||||
5.65%, 01/17/29 | 21 | 24,497 |
S C H E D U L E O F I N V E S T M E N T S | 1 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Automobiles (continued) | ||||||||||||
Group 1 Automotive, Inc., | USD | 205 | $ | 201,412 | ||||||||
Ken Garff Automotive LLC, | 39 | 38,366 | ||||||||||
Nissan Motor Co. Ltd., 4.81%, 09/17/30(c) | 200 | 201,201 | ||||||||||
Penske Automotive Group, Inc., | 78 | 77,682 | ||||||||||
Tesla, Inc., 5.30%, 08/15/25(c) | 135 | 139,725 | ||||||||||
|
| |||||||||||
4,114,800 | ||||||||||||
Banks — 0.0% | ||||||||||||
Banca Monte dei Paschi di Siena SpA, 2.63%, 04/28/25 | EUR | 100 | 115,926 | |||||||||
Banco Espirito Santo SA(b)(d) | 100 | 15,242 | ||||||||||
4.75%, 01/15/21(e) | 200 | 30,483 | ||||||||||
4.00%, 01/21/21 | 100 | 15,242 | ||||||||||
|
| |||||||||||
176,893 | ||||||||||||
Banks: Diversified — 0.0% | ||||||||||||
Encompass Health Corp. | USD | 69 | 69,104 | |||||||||
4.50%, 02/01/28 | 14 | 14,070 | ||||||||||
4.75%, 02/01/30 | 19 | 19,276 | ||||||||||
|
| |||||||||||
102,450 | ||||||||||||
Beverages — 0.4% | ||||||||||||
ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27(c)(f) | 441 | 438,707 | ||||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., 5.25%, 08/15/27(c) | 208 | 211,952 | ||||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.(c) | 244 | 254,980 | ||||||||||
4.13%, 08/15/26 | 200 | 202,750 | ||||||||||
Ball Corp., 2.88%, 08/15/30 | 91 | 89,976 | ||||||||||
Trivium Packaging Finance BV | EUR | 100 | 115,759 | |||||||||
8.50%, 08/15/27(c) | USD | 814 | 877,675 | |||||||||
|
| |||||||||||
2,191,799 | ||||||||||||
Biotechnology — 0.0% | ||||||||||||
Emergent BioSolutions, Inc., | 25 | 25,098 | ||||||||||
|
| |||||||||||
Building Materials — 0.2% | ||||||||||||
Boise Cascade Co., 4.88%, 07/01/30(c) | 45 | 48,375 | ||||||||||
Cornerstone Building Brands, Inc., | 69 | 69,889 | ||||||||||
Forterra Finance LLC/FRTA Finance Corp., | 14 | 14,792 | ||||||||||
Griffon Corp., 5.75%, 03/01/28 | 28 | 29,227 | ||||||||||
Jeld-Wen, Inc.(c) | 32 | 32,160 | ||||||||||
4.88%, 12/15/27 | 10 | 10,191 | ||||||||||
Masonite International Corp., | 56 | 59,720 | ||||||||||
Standard Industries, Inc.(c) | 44 | 45,760 | ||||||||||
4.38%, 07/15/30 | 154 | 157,891 | ||||||||||
3.38%, 01/15/31 | 205 | 202,334 |
Security | Par (000) | Value | ||||||||||
Building Materials (continued) | ||||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29(c) | USD | 168 | $ | 174,930 | ||||||||
US Concrete, Inc., 5.13%, 03/01/29(c) | 29 | 29,072 | ||||||||||
|
| |||||||||||
874,341 | ||||||||||||
Building Products(c) — 0.1% | ||||||||||||
Specialty Building Products Holdings LLC/SBP Finance Corp., | 106 | 107,855 | ||||||||||
SRS Distribution, Inc., 8.25%, 07/01/26 | 403 | 430,202 | ||||||||||
|
| |||||||||||
538,057 | ||||||||||||
Capital Markets — 0.1% | ||||||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. | 153 | 154,912 | ||||||||||
6.38%, 12/15/25 | 3 | 3,084 | ||||||||||
5.25%, 05/15/27 | 138 | 143,768 | ||||||||||
NFP Corp.(c) | 31 | 32,860 | ||||||||||
6.88%, 08/15/28 | 194 | 196,401 | ||||||||||
Owl Rock Capital Corp., 4.25%, 01/15/26 | 58 | 58,756 | ||||||||||
|
| |||||||||||
589,781 | ||||||||||||
Chemicals — 0.6% | ||||||||||||
Atotech Alpha 2 BV, (8.75% Cash or 9.50% PIK), 8.75%, 06/01/23(c)(f) | 400 | 401,000 | ||||||||||
Atotech Alpha 3 BV/Alpha US Bidco, Inc., 6.25%, 02/01/25(c) | 636 | 644,745 | ||||||||||
Blue Cube Spinco LLC | 10 | 10,313 | ||||||||||
10.00%, 10/15/25 | 143 | 151,223 | ||||||||||
Element Solutions, Inc., 3.88%, 09/01/28(c) | 374 | 366,987 | ||||||||||
GCP Applied Technologies, Inc., | 134 | 136,680 | ||||||||||
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28(c) | 166 | 178,450 | ||||||||||
Minerals Technologies, Inc., | 55 | 56,913 | ||||||||||
PQ Corp., 5.75%, 12/15/25(c) | 307 | 315,826 | ||||||||||
Valvoline, Inc., 4.25%, 02/15/30(c) | 88 | 89,760 | ||||||||||
WESCO Distribution, Inc.(c) | 217 | 236,378 | ||||||||||
7.25%, 06/15/28 | 198 | 216,944 | ||||||||||
WR Grace & Co-Conn, 4.88%, 06/15/27(c) | 92 | 95,008 | ||||||||||
|
| |||||||||||
2,900,227 | ||||||||||||
Commercial Services & Supplies — 0.2% | ||||||||||||
APX Group, Inc., 7.88%, 12/01/22 | 163 | 163,000 | ||||||||||
ASGN, Inc., 4.63%, 05/15/28(c) | 89 | 89,367 | ||||||||||
Fortress Transportation and Infrastructure Investors LLC, 9.75%, 08/01/27(c) | 17 | 18,201 | ||||||||||
Herc Holdings, Inc., 5.50%, 07/15/27(c) | 253 | 261,766 | ||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc., | 121 | 116,069 | ||||||||||
Team Health Holdings, Inc., | 103 | 70,555 | ||||||||||
United Rentals North America, Inc. | 74 | 78,532 |
2 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Commercial Services & Supplies (continued) | ||||||||||||
United Rentals North America, Inc. (continued) |
| |||||||||||
5.25%, 01/15/30 | USD | 2 | $ | 2,182 | ||||||||
4.00%, 07/15/30 | 61 | 62,525 | ||||||||||
|
| |||||||||||
862,197 | ||||||||||||
Communications Equipment(c) — 0.1% | ||||||||||||
Avaya, Inc., 6.13%, 09/15/28 | 183 | 186,587 | ||||||||||
CommScope Technologies LLC, | 109 | 110,477 | ||||||||||
CommScope, Inc. | 32 | 33,360 | ||||||||||
8.25%, 03/01/27 | 12 | 12,480 | ||||||||||
|
| |||||||||||
342,904 | ||||||||||||
Construction & Engineering(c) — 0.0% | ||||||||||||
KBR, Inc., 4.75%, 09/30/28 | 61 | 61,381 | ||||||||||
Weekley Homes LLC/Weekley Finance Corp., 4.88%, 09/15/28 | 23 | 23,230 | ||||||||||
|
| |||||||||||
84,611 | ||||||||||||
Construction Materials(c) — 0.5% | ||||||||||||
American Builders & Contractors Supply Co., Inc., 4.00%, 01/15/28 | 1,176 | 1,195,110 | ||||||||||
Core & Main LP, 6.13%, 08/15/25 | 797 | 807,301 | ||||||||||
HD Supply, Inc., 5.38%, 10/15/26 | 219 | 229,083 | ||||||||||
IAA, Inc., 5.50%, 06/15/27 | 159 | 165,559 | ||||||||||
Picasso Finance Sub, Inc., 6.13%, 06/15/25 | 159 | 171,265 | ||||||||||
Williams Scotsman International, Inc., | 77 | 77,311 | ||||||||||
Winnebago Industries, Inc., 6.25%, 07/15/28 | 45 | 47,475 | ||||||||||
|
| |||||||||||
2,693,104 | ||||||||||||
Consumer Discretionary(c) — 0.1% | ||||||||||||
Carnival Corp. | 30 | 33,619 | ||||||||||
10.50%, 02/01/26 | 42 | 46,515 | ||||||||||
9.88%, 08/01/27 | 40 | 42,384 | ||||||||||
NCL Corp. Ltd., 10.25%, 02/01/26 | 37 | 38,549 | ||||||||||
Nielsen Finance LLC/Nielsen Finance Co. | 112 | 115,842 | ||||||||||
5.88%, 10/01/30 | 86 | 89,010 | ||||||||||
Royal Caribbean Cruises Ltd. | 45 | 50,343 | ||||||||||
9.13%, 06/15/23 | 54 | 57,240 | ||||||||||
11.50%, 06/01/25 | 95 | 110,205 | ||||||||||
|
| |||||||||||
583,707 | ||||||||||||
Consumer Finance — 0.7% | ||||||||||||
Husky III Holding Ltd., (13.00% Cash or 13.00% PIK), 13.00%, 02/15/25(c)(f) | 434 | 449,190 | ||||||||||
MPH Acquisition Holdings LLC, | 388 | 398,612 | ||||||||||
Navient Corp. | 5 | 5,162 | ||||||||||
6.13%, 03/25/24 | 96 | 96,720 | ||||||||||
5.88%, 10/25/24 | 77 | 76,567 | ||||||||||
5.00%, 03/15/27 | 2 | 1,878 | ||||||||||
OneMain Finance Corp. | 27 | 29,902 | ||||||||||
6.63%, 01/15/28 | 8 | 8,878 | ||||||||||
5.38%, 11/15/29 | 14 | 14,560 | ||||||||||
PayPal Holdings, Inc., 1.65%, 06/01/25 | 257 | 266,180 | ||||||||||
Refinitiv US Holdings, Inc., 4.50%, 05/15/26(c) | EUR | 855 | 1,047,695 |
Security | Par (000) | Value | ||||||||||
Consumer Finance (continued) | ||||||||||||
Sabre GLBL, Inc.(c) | USD | 10 | $ | 9,775 | ||||||||
9.25%, 04/15/25 | 287 | 315,864 | ||||||||||
7.38%, 09/01/25 | 81 | 81,810 | ||||||||||
Verscend Escrow Corp., 9.75%, 08/15/26(c) | 851 | 925,284 | ||||||||||
WEX, Inc., 4.75%, 02/01/23(c) | 8 | 8,010 | ||||||||||
|
| |||||||||||
3,736,087 | ||||||||||||
Containers & Packaging — 0.1% | ||||||||||||
Graham Packaging Co., Inc., | 147 | 153,064 | ||||||||||
Graphic Packaging International LLC, | 23 | 23,144 | ||||||||||
Intelligent Packaging Ltd. Finco Inc./Intelligent Packaging Ltd. Co-Issuer LLC, 6.00%, 09/15/28(c) | 43 | 43,604 | ||||||||||
International Paper Co., 7.30%, 11/15/39 | 5 | 7,308 | ||||||||||
LABL Escrow Issuer LLC, 6.75%, 07/15/26(c) | 116 | 122,380 | ||||||||||
|
| |||||||||||
349,500 | ||||||||||||
Diversified Consumer Services — 0.3% | ||||||||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp.(c) | 868 | 924,420 | ||||||||||
9.75%, 07/15/27 | 76 | 82,575 | ||||||||||
Ascend Learning LLC, 6.88%, 08/01/25 | 340 | 347,203 | ||||||||||
Brink’s Co., 5.50%, 07/15/25(c) | 36 | 37,530 | ||||||||||
Service Corp. International, 3.38%, 08/15/30 | 84 | 84,105 | ||||||||||
|
| |||||||||||
1,475,833 | ||||||||||||
Diversified Financial Services — 0.1% | ||||||||||||
Arrow Global Finance PLC, 5.13%, 09/15/24 | GBP | 100 | 121,729 | |||||||||
Citigroup, Inc., Series V, (Secured Overnight Financing Rate + 3.23%), 4.70%(g)(h) | USD | 410 | 396,163 | |||||||||
Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24(c)(f) | 24 | 12,641 | ||||||||||
Intrum AB, | EUR | 100 | 114,900 | |||||||||
Spectrum Brands, Inc.(c) | USD | 18 | 18,675 | |||||||||
5.50%, 07/15/30 | 50 | 52,750 | ||||||||||
|
| |||||||||||
716,858 | ||||||||||||
Diversified Telecommunication Services — 0.5% | ||||||||||||
CenturyLink, Inc. | 618 | 634,927 | ||||||||||
Series P, 7.60%, 09/15/39 | 183 | 206,768 | ||||||||||
Cincinnati Bell, Inc.(c) | 26 | 26,764 | ||||||||||
8.00%, 10/15/25 | 20 | 21,125 | ||||||||||
Consolidated Communications, Inc., | 65 | 66,300 | ||||||||||
Frontier Communications Corp.(c) | 71 | 71,568 | ||||||||||
8.00%, 04/01/27 | 35 | 34,879 | ||||||||||
Intelsat Jackson Holdings SA, | 155 | 157,325 | ||||||||||
Level 3 Financing, Inc.(c) | 238 | 241,646 | ||||||||||
3.63%, 01/15/29 | 123 | 121,463 | ||||||||||
Oi SA, (10% Cash or 8.00% Cash + 4.00% PIK), 10.00%, 07/27/25(f) | 20 | 19,216 | ||||||||||
SoftBank Group Corp., 4.00%, 09/19/29 | EUR | 100 | 117,203 | |||||||||
Switch Ltd., 3.75%, 09/15/28(c) | USD | 100 | 101,000 | |||||||||
Telecom Italia Capital SA | 58 | 69,020 |
S C H E D U L E O F I N V E S T M E N T S | 3 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Diversified Telecommunication Services (continued) | ||||||||||||
Telecom Italia Capital SA (continued) | ||||||||||||
6.00%, 09/30/34 | USD | 134 | $ | 155,440 | ||||||||
7.20%, 07/18/36 | 14 | 17,657 | ||||||||||
7.72%, 06/04/38 | 51 | 67,830 | ||||||||||
Telecom Italia SpA, 5.30%, 05/30/24(c) | 314 | 339,905 | ||||||||||
|
| |||||||||||
2,470,036 | ||||||||||||
Electric Utilities — 0.1% | ||||||||||||
PG&E Corp., 5.25%, 07/01/30 | 108 | 104,490 | ||||||||||
Pike Corp., 5.50%, 09/01/28(c) | 185 | 186,145 | ||||||||||
|
| |||||||||||
290,635 | ||||||||||||
Electrical Equipment — 0.1% | ||||||||||||
Gates Global LLC/Gates Global Co., 6.25%, 01/15/26(c) | 280 | 288,621 | ||||||||||
NM Holdings Co. LLC, Series B, | 5,125 | 1 | ||||||||||
|
| |||||||||||
288,622 | ||||||||||||
Electronic Equipment, Instruments & Components — 0.1% | ||||||||||||
BWX Technologies, Inc., 4.13%, 06/30/28(c) | 81 | 82,823 | ||||||||||
CDW LLC/CDW Finance Corp. | ||||||||||||
4.13%, 05/01/25 | 133 | 137,322 | ||||||||||
3.25%, 02/15/29 | 125 | 124,531 | ||||||||||
Energizer Holdings, Inc.(c) | ||||||||||||
6.38%, 07/15/26 | 55 | 59,136 | ||||||||||
4.75%, 06/15/28 | 62 | 64,164 | ||||||||||
4.38%, 03/31/29 | 6 | 6,060 | ||||||||||
Xerox Corp., 4.80%, 03/01/35 | 181 | 172,855 | ||||||||||
|
| |||||||||||
646,891 | ||||||||||||
Energy Equipment & Services — 0.2% | ||||||||||||
Archrock Partners LP/Archrock Partners Finance Corp.(c) | ||||||||||||
6.88%, 04/01/27 | 107 | 102,493 | ||||||||||
6.25%, 04/01/28 | 29 | 27,333 | ||||||||||
Pioneer Energy Services Corp.(a)(c)(f) | ||||||||||||
(11.00% PIK), 11.00%, 05/15/25 | 335 | 268,282 | ||||||||||
(5.00% PIK), 5.00%, 11/15/25(j) | 226 | 122,141 | ||||||||||
USA Compression Partners LP/USA Compression Finance Corp. | ||||||||||||
6.88%, 04/01/26 | 331 | 328,104 | ||||||||||
6.88%, 09/01/27 | 254 | 251,871 | ||||||||||
|
| |||||||||||
1,100,224 | ||||||||||||
Environmental, Maintenance, & Security Service — 0.1% | ||||||||||||
Covanta Holding Corp., 5.00%, 09/01/30 | 29 | 29,270 | ||||||||||
GFL Environmental, Inc.(c) | ||||||||||||
3.75%, 08/01/25 | 85 | 85,469 | ||||||||||
5.13%, 12/15/26 | 83 | 85,706 | ||||||||||
Tervita Corp., 7.63%, 12/01/21(c) | 380 | 346,750 | ||||||||||
Waste Pro USA, Inc., 5.50%, 02/15/26(c) | 71 | 71,851 | ||||||||||
|
| |||||||||||
619,046 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.6% | ||||||||||||
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 5.75%, 05/15/26(c) | 128 | 100,873 | ||||||||||
Diversified Healthcare Trust, | 70 | 77,860 | ||||||||||
Hilton Domestic Operating Co. Inc., | 163 | 171,761 |
Security | Par (000) | Value | ||||||||||
Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||||||
Hilton Domestic Operating Co., Inc. | ||||||||||||
5.38%, 05/01/25(c) | USD | 127 | $ | 132,626 | ||||||||
4.88%, 01/15/30 | 204 | 210,120 | ||||||||||
Iron Mountain, Inc.(c) | ||||||||||||
4.88%, 09/15/29 | 10 | 10,175 | ||||||||||
5.25%, 07/15/30 | 134 | 139,695 | ||||||||||
4.50%, 02/15/31 | 28 | 28,263 | ||||||||||
5.63%, 07/15/32 | 151 | 159,456 | ||||||||||
Marriott International, Inc., Series EE, | 393 | 438,596 | ||||||||||
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc. | ||||||||||||
4.50%, 09/01/26 | 139 | 141,018 | ||||||||||
4.50%, 01/15/28 | 420 | 427,875 | ||||||||||
MPT Operating Partnership LP/MPT Finance Corp., 4.63%, 08/01/29 | 329 | 342,315 | ||||||||||
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.Issuer, 5.88%, 10/01/28(c) | 29 | 28,927 | ||||||||||
RHP Hotel Properties LP/RHP Finance Corp., 4.75%, 10/15/27 | 500 | 460,960 | ||||||||||
Service Properties Trust | ||||||||||||
4.50%, 06/15/23 | 15 | 14,710 | ||||||||||
4.35%, 10/01/24 | 12 | 10,860 | ||||||||||
7.50%, 09/15/25 | 108 | 114,772 | ||||||||||
Wyndham Destinations, Inc., | 56 | 58,666 | ||||||||||
Wyndham Hotels & Resorts, Inc., | 60 | 58,200 | ||||||||||
|
| |||||||||||
3,127,728 | ||||||||||||
Food & Staples Retailing — 0.4% | ||||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertson’s LLC, | 146 | 144,879 | ||||||||||
Kraft Heinz Foods Co. | ||||||||||||
3.88%, 05/15/27(c) | 16 | 16,947 | ||||||||||
4.25%, 03/01/31(c) | 226 | 247,956 | ||||||||||
5.00%, 07/15/35 | 24 | 27,636 | ||||||||||
6.88%, 01/26/39 | 164 | 219,671 | ||||||||||
4.63%, 10/01/39(c) | 88 | 93,425 | ||||||||||
6.50%, 02/09/40 | 35 | 44,482 | ||||||||||
5.20%, 07/15/45 | 101 | 110,416 | ||||||||||
4.38%, 06/01/46 | 217 | 222,952 | ||||||||||
4.88%, 10/01/49(c) | 208 | 219,506 | ||||||||||
5.50%, 06/01/50(c) | 406 | 465,299 | ||||||||||
Lamb Weston Holdings, Inc., | 99 | 106,920 | ||||||||||
Post Holdings, Inc., 4.63%, 04/15/30(c) | 116 | 119,335 | ||||||||||
TreeHouse Foods, Inc., 4.00%, 09/01/28 | 23 | 23,262 | ||||||||||
|
| |||||||||||
2,062,686 | ||||||||||||
Food Products(c) — 0.2% | ||||||||||||
Aramark Services, Inc. | ||||||||||||
6.38%, 05/01/25 | 99 | 103,126 | ||||||||||
5.00%, 02/01/28 | 67 | 67,502 | ||||||||||
Chobani LLC/Chobani Finance Corp., Inc., |
| 261 | 269,814 | |||||||||
JBS USA LUX SA/JBS USA Finance, Inc., |
| 118 | 128,030 |
4 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Food Products (continued) | ||||||||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 6.50%, 04/15/29 | USD | 234 | $ | 259,733 | ||||||||
Simmons Foods, Inc., 7.75%, 01/15/24 | 174 | 182,265 | ||||||||||
|
| |||||||||||
1,010,470 | ||||||||||||
Gas Utilities — 0.0% | ||||||||||||
Ferrellgas LP/Ferrellgas Finance Corp., 10.00%, 04/15/25(c) | 39 | 42,218 | ||||||||||
|
| |||||||||||
Health Care Equipment & Supplies(c) — 0.2% | ||||||||||||
Avantor Funding, Inc., 4.63%, 07/15/28 | 316 | 327,850 | ||||||||||
Avantor, Inc., 6.00%, 10/01/24 | 343 | 358,435 | ||||||||||
Hologic, Inc., 3.25%, 02/15/29 | 30 | 30,187 | ||||||||||
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA | 189 | 191,835 | ||||||||||
7.25%, 02/01/28 | 72 | 74,880 | ||||||||||
|
| |||||||||||
983,187 | ||||||||||||
Health Care Providers & Services — 0.8% | ||||||||||||
Acadia Healthcare Co, Inc., 5.50%, 07/01/28(c) | 66 | 67,882 | ||||||||||
Acadia Healthcare Co., Inc., | 39 | 39,341 | ||||||||||
AdaptHealth LLC, 6.13%, 08/01/28(c) | 49 | 50,725 | ||||||||||
AHP Health Partners, Inc., 9.75%, 07/15/26(c) | 204 | 218,790 | ||||||||||
Centene Corp. | 117 | 123,923 | ||||||||||
4.25%, 12/15/27 | 206 | 215,565 | ||||||||||
3.38%, 02/15/30 | 30 | 31,125 | ||||||||||
3.00%, 10/15/30(i) | 53 | 54,071 | ||||||||||
CHS/Community Health Systems, Inc.(c) | 153 | 152,235 | ||||||||||
6.63%, 02/15/25 | 205 | 198,337 | ||||||||||
8.00%, 03/15/26 | 441 | 433,503 | ||||||||||
Encompasss Health Corp. , 4.63%, 04/01/31 | 33 | 33,000 | ||||||||||
HCA, Inc., 3.50%, 09/01/30 | 515 | 524,723 | ||||||||||
LifePoint Health, Inc.(c) | 116 | 122,090 | ||||||||||
4.38%, 02/15/27 | 135 | 135,169 | ||||||||||
Molina Healthcare, Inc., 4.38%, 06/15/28(c) | 83 | 84,702 | ||||||||||
Polaris Intermediate Corp., (8.50% Cash or 9.25% PIK), 8.50%, 12/01/22(c)(f) | 302 | 306,784 | ||||||||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health Inc., 9.75%, 12/01/26(c) | 10 | 10,625 | ||||||||||
Surgery Center Holdings, Inc.(c) | 145 | 144,275 | ||||||||||
10.00%, 04/15/27 | 234 | 249,210 | ||||||||||
Teleflex, Inc., 4.25%, 06/01/28(c) | 130 | 134,550 | ||||||||||
Tenet Healthcare Corp.(c) | 110 | 118,250 | ||||||||||
4.88%, 01/01/26 | 372 | 378,756 | ||||||||||
5.13%, 11/01/27 | 385 | 395,472 | ||||||||||
4.63%, 06/15/28 | 46 | 46,662 | ||||||||||
6.13%, 10/01/28 | 135 | 131,288 | ||||||||||
|
| |||||||||||
4,401,053 | ||||||||||||
Health Care Technology — 0.0% | ||||||||||||
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25(c) | 229 | 232,275 | ||||||||||
|
| |||||||||||
Hotels, Restaurants & Leisure — 0.8% | ||||||||||||
1011778 BC ULC/New Red Finance, Inc.(c) | 225 | 240,187 | ||||||||||
4.38%, 01/15/28 | 218 | 222,316 |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) | ||||||||||||
1011778 BC ULC/New Red Finance, Inc.(c) (continued) | USD | 4 | $ | 44,339 | ||||||||
Boyd Gaming Corp. | 79 | 86,606 | ||||||||||
6.38%, 04/01/26 | 32 | 33,318 | ||||||||||
4.75%, 12/01/27 | 58 | 56,913 | ||||||||||
Boyne USA, Inc., 7.25%, 05/01/25(c) | 19 | 19,950 | ||||||||||
Caesars Entertainment, Inc.(c) | 472 | 493,356 | ||||||||||
8.13%, 07/01/27 | 282 | 298,920 | ||||||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25(c) | 154 | 158,812 | ||||||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25(c) | 292 | 300,760 | ||||||||||
GLP Capital LP/GLP Financing II, Inc. | 162 | 175,903 | ||||||||||
5.38%, 04/15/26 | 80 | 88,664 | ||||||||||
Golden Nugget, Inc., 6.75%, 10/15/24(c) | 455 | 379,925 | ||||||||||
Las Vegas Sands Corp. | 31 | 31,414 | ||||||||||
3.90%, 08/08/29 | 28 | 27,995 | ||||||||||
MGM Resorts International, 5.75%, 06/15/25 | 73 | 76,562 | ||||||||||
Newell Brands Inc., 4.88%, 06/01/25 | 46 | 49,623 | ||||||||||
Powdr Corp., 6.00%, 08/01/25(c) | 58 | 59,305 | ||||||||||
Scientific Games International, Inc.(c) | 65 | 67,826 | ||||||||||
8.25%, 03/15/26 | 483 | 504,295 | ||||||||||
SeaWorld Parks & Entertainment, Inc., | 52 | 54,026 | ||||||||||
Six Flags Theme Parks, Inc., 7.00%, 07/01/25(c) | 275 | 292,531 | ||||||||||
Vail Resorts, Inc., 6.25%, 05/15/25(c) | 89 | 94,451 | ||||||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.13%, 10/01/29(c) | 103 | 98,108 | ||||||||||
Yum! Brands, Inc. | 52 | 57,671 | ||||||||||
4.75%, 01/15/30(c) | 142 | 153,360 | ||||||||||
3.63%, 03/15/31 | 22 | 22,000 | ||||||||||
5.35%, 11/01/43 | 14 | 14,770 | ||||||||||
|
| |||||||||||
4,203,906 | ||||||||||||
Household Durables — 0.2% | ||||||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. Corp., 4.88%, 02/15/30(c) | 237 | 221,834 | ||||||||||
CD&R Smokey Buyer, Inc., 6.75%, 07/15/25(c) | 75 | 79,125 | ||||||||||
Diebold Nixdorf, Inc., 9.38%, 07/15/25(c) | 42 | 44,310 | ||||||||||
Lennar Corp. | 25 | 27,285 | ||||||||||
5.25%, 06/01/26 | 143 | 160,517 | ||||||||||
Mattamy Group Corp., 4.63%, 03/01/30(c) | 102 | 103,285 | ||||||||||
NCR Corp.(c) | 92 | 96,185 | ||||||||||
5.00%, 10/01/28 | 35 | 35,028 | ||||||||||
6.13%, 09/01/29 | 78 | 82,596 | ||||||||||
5.25%, 10/01/30 | 36 | 36,000 | ||||||||||
PulteGroup, Inc. | 44 | 49,775 | ||||||||||
7.88%, 06/15/32 | 23 | 31,625 | ||||||||||
Taylor Morrison Communities, Inc., | 50 | 53,250 |
S C H E D U L E O F I N V E S T M E N T S | 5 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Household Durables (continued) | ||||||||||||
Tempur Sealy International, Inc., 5.50%, 06/15/26 | USD | 2 | $ | 2,076 | ||||||||
TRI Pointe Group, Inc., 5.70%, 06/15/28 | 18 | 19,710 | ||||||||||
|
| |||||||||||
1,042,601 | ||||||||||||
Independent Power and Renewable Electricity Producers(c) — 0.2% | ||||||||||||
Calpine Corp. | ||||||||||||
5.25%, 06/01/26 | 100 | 103,888 | ||||||||||
4.50%, 02/15/28 | 5 | 5,121 | ||||||||||
5.13%, 03/15/28 | 488 | 505,080 | ||||||||||
4.63%, 02/01/29 | 170 | 169,681 | ||||||||||
5.00%, 02/01/31 | 178 | 181,435 | ||||||||||
Clearway Energy Operating LLC, 4.75%, 03/15/28 | 46 | 47,495 | ||||||||||
TerraForm Power Operating LLC, 4.75%, 01/15/30 | 103 | 108,923 | ||||||||||
|
| |||||||||||
1,121,623 | ||||||||||||
Insurance — 0.3% | ||||||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer, 6.75%, 10/15/27(c) | 657 | 689,272 | ||||||||||
AmWINS Group, Inc., 7.75%, 07/01/26(c) | 25 | 26,750 | ||||||||||
HUB International Ltd., 7.00%, 05/01/26(c) | 467 | 483,929 | ||||||||||
Unipol Gruppo SpA, 3.25%, 09/23/30 | EUR | 100 | 118,462 | |||||||||
Willis North America, Inc., 2.95%, 09/15/29 | USD | 10 | 10,776 | |||||||||
|
| |||||||||||
1,329,189 | ||||||||||||
Interactive Media & Services — 0.1% | ||||||||||||
Netflix, Inc. | ||||||||||||
4.88%, 04/15/28 | 213 | 238,027 | ||||||||||
5.88%, 11/15/28 | 43 | 51,308 | ||||||||||
3.63%, 06/15/30 | EUR | 100 | 126,918 | |||||||||
4.88%, 06/15/30(c) | USD | 254 | 289,560 | |||||||||
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc., 10.75%, 06/01/28(c) | 30 | 32,700 | ||||||||||
Twitter, Inc., 3.88%, 12/15/27(c) | 55 | 56,513 | ||||||||||
|
| |||||||||||
795,026 | ||||||||||||
Internet Software & Services(c) — 0.4% | ||||||||||||
Expedia Group, Inc. | ||||||||||||
3.60%, 12/15/23 | 486 | 496,552 | ||||||||||
6.25%, 05/01/25 | 275 | 303,300 | ||||||||||
4.63%, 08/01/27 | 95 | 99,824 | ||||||||||
Match Group Holdings II LLC | ||||||||||||
4.63%, 06/01/28 | 60 | 61,800 | ||||||||||
4.13%, 08/01/30 | 127 | 128,468 | ||||||||||
TripAdvisor, Inc., 7.00%, 07/15/25 | 82 | 85,485 | ||||||||||
Uber Technologies, Inc. | ||||||||||||
7.50%, 11/01/23 | 145 | 151,046 | ||||||||||
7.50%, 05/15/25 | 230 | 245,086 | ||||||||||
8.00%, 11/01/26 | 33 | 35,171 | ||||||||||
7.50%, 09/15/27 | 106 | 113,420 | ||||||||||
6.25%, 01/15/28 | 265 | 272,208 | ||||||||||
|
| |||||||||||
1,992,360 | ||||||||||||
IT Services — 0.7% | ||||||||||||
Banff Merger Sub, Inc., 9.75%, 09/01/26(c) | 460 | 486,266 | ||||||||||
Booz Allen Hamilton, Inc., 3.88%, 09/01/28(c) | 134 | 137,558 | ||||||||||
BY Crown Parent LLC/BY Bond Finance, Inc., 4.25%, 01/31/26(c) | 461 | 469,356 | ||||||||||
Camelot Finance SA, 4.50%, 11/01/26(c) | 287 | 292,740 | ||||||||||
Dun & Bradstreet Corp.(c) | 102 | 109,553 |
Security | Par (000) | Value | ||||||||||
IT Services (continued) | ||||||||||||
Dun & Bradstreet Corp.(c) (continued) | USD | 232 | $ | 262,160 | ||||||||
Fiserv, Inc., 2.25%, 06/01/27 | 1,385 | 1,462,823 | ||||||||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 6.75%, 06/01/25(c) | 291 | 296,997 | ||||||||||
|
| |||||||||||
3,517,453 | ||||||||||||
Leisure Products — 0.0% | ||||||||||||
Mattel, Inc. | ||||||||||||
6.75%, 12/31/25(c) | 12 | 12,660 | ||||||||||
5.88%, 12/15/27(c) | 34 | 36,593 | ||||||||||
6.20%, 10/01/40 | 23 | 22,286 | ||||||||||
5.45%, 11/01/41 | 99 | 92,576 | ||||||||||
|
| |||||||||||
164,115 | ||||||||||||
Machinery — 0.2% | ||||||||||||
Clark Equipment Co., 5.88%, 06/01/25(c) | 284 | 294,295 | ||||||||||
Colfax Corp., 6.38%, 02/15/26(c) | 161 | 170,660 | ||||||||||
Platin 1426 GmbH, 5.38%, 06/15/23 | EUR | 100 | 110,210 | |||||||||
RBS Global, Inc./Rexnord LLC, | USD | 57 | 57,784 | |||||||||
Titan Acquisition Ltd/Titan Co-Borrower LLC, 7.75%, 04/15/26(c) | 126 | 125,370 | ||||||||||
Vertical US Newco, Inc., 5.25%, 07/15/27(c) | 200 | 207,853 | ||||||||||
|
| |||||||||||
966,172 | ||||||||||||
Media — 2.8% | ||||||||||||
Altice France Holding SA | ||||||||||||
8.00%, 05/15/27 | EUR | 100 | 124,280 | |||||||||
10.50%, 05/15/27(c) | USD | 539 | 598,964 | |||||||||
6.00%, 02/15/28(c) | 272 | 259,431 | ||||||||||
CCO Holdings LLC/CCO Holdings Capital | ||||||||||||
5.13%, 05/01/27 | 112 | 117,849 | ||||||||||
5.00%, 02/01/28 | 34 | 35,700 | ||||||||||
5.38%, 06/01/29 | 144 | 156,060 | ||||||||||
4.50%, 08/15/30 | 134 | 140,706 | ||||||||||
4.25%, 02/01/31 | 286 | 296,428 | ||||||||||
4.50%, 05/01/32 | 460 | 480,125 | ||||||||||
Clear Channel International BV, | 200 | 204,560 | ||||||||||
Clear Channel Worldwide Holdings, Inc. | ||||||||||||
9.25%, 02/15/24 | �� | 363 | 351,892 | |||||||||
5.13%, 08/15/27(c) | 626 | 601,116 | ||||||||||
Connect Finco Sarl/Connect US Finco LLC, 6.75%, 10/01/26(c) | 1,488 | 1,492,687 | ||||||||||
CSC Holdings LLC | ||||||||||||
5.25%, 06/01/24 | 344 | 368,940 | ||||||||||
4.13%, 12/01/30(c) | 200 | 203,850 | ||||||||||
4.63%, 12/01/30(c) | 223 | 224,672 | ||||||||||
3.38%, 02/15/31(c) | 205 | 198,491 | ||||||||||
DISH DBS Corp. | ||||||||||||
5.88%, 07/15/22 | 689 | 716,560 | ||||||||||
7.75%, 07/01/26 | 181 | 198,984 | ||||||||||
GCI LLC, 4.75%, 10/15/28(c)(i) | 29 | 29,363 | ||||||||||
Hughes Satellite Systems Corp., 5.25%, 08/01/26 | 20 | 21,263 | ||||||||||
Lamar Media Corp., 4.00%, 02/15/30(c) | 57 | 57,000 | ||||||||||
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27(c) | 200 | 209,000 | ||||||||||
Liberty Broadband Corp., 2.75%, 09/30/50(c)(j) | 456 | 490,532 |
6 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
Lions Gate Capital Holdings LLC(c) | ||||||||||||
6.38%, 02/01/24 | USD | 26 | $ | 25,740 | ||||||||
5.88%, 11/01/24 | 21 | 20,633 | ||||||||||
Live Nation Entertainment, Inc., | 324 | 349,674 | ||||||||||
Qualitytech LP/QTS Finance Corp., | 95 | 95,627 | ||||||||||
Radiate Holdco LLC/Radiate Finance, Inc.(c) | ||||||||||||
4.50%, 09/15/26 | 714 | 713,850 | ||||||||||
6.50%, 09/15/28 | 1,030 | 1,055,505 | ||||||||||
SES SA, (5 year EUR Swap + 5.40%), | EUR | 100 | 123,836 | |||||||||
Sirius XM Radio, Inc.(c) | ||||||||||||
5.50%, 07/01/29 | USD | 124 | 132,990 | |||||||||
4.13%, 07/01/30 | 101 | 102,894 | ||||||||||
Telesat Canada/Telesat LLC, | 131 | 131,531 | ||||||||||
Univision Communications, Inc.(c) | ||||||||||||
5.13%, 02/15/25 | 107 | 101,383 | ||||||||||
6.63%, 06/01/27 | 421 | 411,001 | ||||||||||
Virgin Media Secured Finance PLC, | 200 | 205,488 | ||||||||||
Virgin Media Vendor Financing Notes IV DAC, | 242 | 241,395 | ||||||||||
WMG Acquisition Corp.(c) | ||||||||||||
3.88%, 07/15/30 | 32 | 32,998 | ||||||||||
3.00%, 02/15/31 | 19 | 18,473 | ||||||||||
Zayo Group Holdings, Inc.(c) | ||||||||||||
4.00%, 03/01/27 | 2,254 | 2,218,443 | ||||||||||
6.13%, 03/01/28 | 450 | 464,490 | ||||||||||
Ziggo Bond Co. BV, 5.13%, 02/28/30(c) | 200 | 202,460 | ||||||||||
Ziggo BV, 5.50%, 01/15/27(c) | 169 | 177,028 | ||||||||||
|
| |||||||||||
14,403,892 | ||||||||||||
Metals & Mining — 0.6% | ||||||||||||
Arconic Corp.(c) | ||||||||||||
6.00%, 05/15/25 | 97 | 103,589 | ||||||||||
6.13%, 02/15/28 | 106 | 108,849 | ||||||||||
Big River Steel LLC/BRS Finance Corp., | 227 | 229,531 | ||||||||||
Constellium SE(c) | ||||||||||||
6.63%, 03/01/25 | 300 | 306,937 | ||||||||||
5.88%, 02/15/26 | 321 | 329,359 | ||||||||||
Freeport-McMoRan, Inc. | ||||||||||||
4.38%, 08/01/28 | 164 | 169,569 | ||||||||||
4.63%, 08/01/30 | 168 | 176,644 | ||||||||||
5.45%, 03/15/43 | 551 | 610,938 | ||||||||||
Grinding Media, Inc./Moly-Cop AltaSteel Ltd., | 96 | 97,200 | ||||||||||
Joseph T Ryerson & Son, Inc., | 51 | 53,677 | ||||||||||
Kaiser Aluminum Corp., 4.63%, 03/01/28(c) | 75 | 69,937 | ||||||||||
New Gold, Inc., 7.50%, 07/15/27(c) | 134 | 142,710 | ||||||||||
Novelis Corp.(c) | ||||||||||||
5.88%, 09/30/26 | 51 | 52,402 | ||||||||||
4.75%, 01/30/30 | 385 | 378,155 | ||||||||||
thyssenkrupp AG, 2.88%, 02/22/24 | EUR | 64 | 70,366 | |||||||||
United States Steel Corp., | USD | 156 | 166,060 | |||||||||
|
| |||||||||||
3,065,923 |
Security | Par (000) | Value | ||||||||||
Multiline Retail(c) — 0.1% | ||||||||||||
Macy’s Inc., | USD | 202 | $ | 208,854 | ||||||||
Nordstrom, Inc., | 75 | 82,189 | ||||||||||
|
| |||||||||||
291,043 | ||||||||||||
Office Supplies & Equipment — 0.1% | ||||||||||||
BY Crown Parent LLC, 7.38%, 10/15/24(c) | 602 | 611,030 | ||||||||||
|
| |||||||||||
Oil, Gas & Consumable Fuels — 2.9% | ||||||||||||
Apache Corp. | ||||||||||||
4.88%, 11/15/27 | 68 | 64,260 | ||||||||||
5.10%, 09/01/40 | 59 | 52,842 | ||||||||||
5.25%, 02/01/42 | 10 | 8,950 | ||||||||||
4.75%, 04/15/43 | 103 | 91,606 | ||||||||||
4.25%, 01/15/44 | 46 | 39,100 | ||||||||||
5.35%, 07/01/49 | 23 | 20,298 | ||||||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp., | 582 | 573,270 | ||||||||||
Brand Industrial Services, Inc., | 314 | 296,730 | ||||||||||
Buckeye Partners LP | ||||||||||||
4.13%, 03/01/25(c) | 5 | 4,750 | ||||||||||
3.95%, 12/01/26 | 34 | 31,681 | ||||||||||
4.50%, 03/01/28(c) | 61 | 58,789 | ||||||||||
Callon Petroleum Co. | ||||||||||||
6.25%, 04/15/23 | 121 | 38,720 | ||||||||||
6.13%, 10/01/24 | 9 | 2,565 | ||||||||||
8.25%, 07/15/25 | 281 | 75,870 | ||||||||||
6.38%, 07/01/26 | 65 | 15,925 | ||||||||||
Cenovus Energy, Inc. | ||||||||||||
3.00%, 08/15/22 | 26 | 25,344 | ||||||||||
3.80%, 09/15/23 | 15 | 14,490 | ||||||||||
5.38%, 07/15/25 | 201 | 193,450 | ||||||||||
5.40%, 06/15/47 | 10 | 8,448 | ||||||||||
Cheniere Energy Partners LP | ||||||||||||
5.63%, 10/01/26 | 151 | 157,040 | ||||||||||
4.50%, 10/01/29 | 128 | 131,299 | ||||||||||
5.25%, 10/01/25 | 12 | 12,276 | ||||||||||
Cheniere Energy, Inc., 4.63%, 10/15/28(c) | 419 | 429,999 | ||||||||||
CITGO Petroleum Corp., 7.00%, 06/15/25(c) | 90 | 88,762 | ||||||||||
CNX Resources Corp., 7.25%, 03/14/27(c) | 64 | 65,280 | ||||||||||
Comstock Resources, Inc. | ||||||||||||
7.50%, 05/15/25(c) | 278 | 261,320 | ||||||||||
9.75%, 08/15/26 | 131 | 134,326 | ||||||||||
Continental Resources, Inc., 4.90%, 06/01/44 | 124 | 93,393 | ||||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., | 194 | 173,294 | ||||||||||
CrownRock LP/CrownRock Finance, Inc., | 677 | 638,072 | ||||||||||
CVR Energy, Inc.(c) | ||||||||||||
5.25%, 02/15/25 | 164 | 142,680 | ||||||||||
5.75%, 02/15/28 | 54 | 45,900 | ||||||||||
DCP Midstream Operating LP | ||||||||||||
5.38%, 07/15/25 | 22 | 22,684 | ||||||||||
5.63%, 07/15/27 | 65 | 66,495 | ||||||||||
5.13%, 05/15/29 | 118 | 116,230 | ||||||||||
6.45%, 11/03/36(c) | 250 | 239,570 | ||||||||||
6.75%, 09/15/37(c) | 21 | 20,160 | ||||||||||
Diamondback Energy, Inc. | ||||||||||||
4.75%, 05/31/25 | 60 | 64,724 | ||||||||||
3.50%, 12/01/29 | 497 | 481,804 |
S C H E D U L E O F I N V E S T M E N T S | 7 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
eG Global Finance PLC | ||||||||||||
6.25%, 10/30/25 | EUR | 142 | $ | 165,739 | ||||||||
8.50%, 10/30/25(c) | USD | 244 | 257,180 | |||||||||
Endeavor Energy Resources LP/EER Finance, Inc.(c) | ||||||||||||
6.63%, 07/15/25 | 73 | 75,007 | ||||||||||
5.50%, 01/30/26 | 421 | 417,842 | ||||||||||
5.75%, 01/30/28 | 320 | 321,600 | ||||||||||
EnLink Midstream Partners LP | ||||||||||||
4.40%, 04/01/24 | 136 | 122,400 | ||||||||||
4.85%, 07/15/26 | 39 | 33,739 | ||||||||||
5.60%, 04/01/44 | 249 | 159,982 | ||||||||||
5.05%, 04/01/45 | 20 | 12,700 | ||||||||||
EQM Midstream Partners LP | ||||||||||||
6.00%, 07/01/25(c) | 88 | 90,750 | ||||||||||
4.13%, 12/01/26 | 17 | 16,201 | ||||||||||
6.50%, 07/01/27(c) | 115 | 121,902 | ||||||||||
EQT Corp. | 120 | 110,475 | ||||||||||
8.75%, 02/01/30 | 27 | 31,860 | ||||||||||
Extraction Oil & Gas, Inc.(b)(c)(d) | ||||||||||||
7.38%, 05/15/24 | 383 | 95,750 | ||||||||||
5.63%, 02/01/26 | 133 | 33,250 | ||||||||||
Harvest Midstream I LP, 7.50%, 09/01/28(c) | 94 | 93,530 | ||||||||||
Indigo Natural Resources LLC, | 13 | 12,653 | ||||||||||
MasTec, Inc., 4.50%, 08/15/28(c) | 83 | 83,830 | ||||||||||
Matador Resources Co., 5.88%, 09/15/26 | 489 | 408,780 | ||||||||||
MEG Energy Corp.(c) | ||||||||||||
7.00%, 03/31/24 | 194 | 180,420 | ||||||||||
6.50%, 01/15/25 | 316 | 309,971 | ||||||||||
7.13%, 02/01/27 | 79 | 70,850 | ||||||||||
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., 4.63%, 06/15/25(c) | 287 | 292,740 | ||||||||||
Murphy Oil Corp., 5.75%, 08/15/25 | 55 | 47,981 | ||||||||||
Murphy Oil USA, Inc., 4.75%, 09/15/29 | 119 | 126,735 | ||||||||||
Neptune Energy Bondco PLC, | 200 | 178,384 | ||||||||||
New Enterprise Stone & Lime Co. Inc., 9.75%, 07/15/28(c) | 26 | 28,080 | ||||||||||
New Fortress Energy, Inc., 6.75%, 09/15/25(c) | 271 | 283,330 | ||||||||||
NGPL PipeCo LLC, 7.77%, 12/15/37(c) | 186 | 236,760 | ||||||||||
NuStar Logistics LP | ||||||||||||
5.75%, 10/01/25 | 41 | 42,345 | ||||||||||
6.00%, 06/01/26 | 124 | 124,350 | ||||||||||
Occidental Petroleum Corp. | 127 | 118,665 | ||||||||||
2.90%, 08/15/24 | 60 | 50,906 | ||||||||||
3.20%, 08/15/26 | 5 | 3,966 | ||||||||||
3.00%, 02/15/27 | 2 | 1,568 | ||||||||||
4.30%, 08/15/39 | 174 | 120,610 | ||||||||||
6.20%, 03/15/40 | 274 | 227,036 | ||||||||||
4.50%, 07/15/44 | 72 | 51,525 | ||||||||||
4.63%, 06/15/45 | 190 | 137,275 | ||||||||||
6.60%, 03/15/46 | 7 | 6,029 | ||||||||||
4.40%, 04/15/46 | 114 | 80,964 | ||||||||||
4.10%, 02/15/47 | 17 | 11,477 | ||||||||||
4.20%, 03/15/48 | 69 | 47,438 | ||||||||||
4.40%, 08/15/49 | 35 | 24,504 |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
Parsley Energy LLC/Parsley Finance Corp., | USD | 477 | $ | 474,615 | ||||||||
PBF Holding Co. LLC/PBF Finance Corp., 9.25%, 05/15/25(c) | 216 | 221,404 | ||||||||||
PDC Energy, Inc. | ||||||||||||
6.13%, 09/15/24 | 187 | 178,117 | ||||||||||
6.25%, 12/01/25 | 29 | 26,970 | ||||||||||
5.75%, 05/15/26 | 48 | 44,570 | ||||||||||
Plains All American Pipeline LP/PAA Finance Corp., 3.55%, 12/15/29 | 23 | 22,229 | ||||||||||
QEP Resources, Inc. | ||||||||||||
5.38%, 10/01/22 | 675 | 553,500 | ||||||||||
5.25%, 05/01/23 | 165 | 120,037 | ||||||||||
5.63%, 03/01/26 | 38 | 21,565 | ||||||||||
Range Resources Corp. | ||||||||||||
5.88%, 07/01/22 | 69 | 66,930 | ||||||||||
5.00%, 08/15/22 | 103 | 99,364 | ||||||||||
5.00%, 03/15/23 | 80 | 76,000 | ||||||||||
Rattler Midstream LP, 5.63%, 07/15/25(c) | 79 | 79,592 | ||||||||||
Sabine Pass Liquefaction LLC, 4.50%, 05/15/30(c) | 144 | 162,209 | ||||||||||
SM Energy Co. | ||||||||||||
6.13%, 11/15/22 | 11 | 8,558 | ||||||||||
10.00%, 01/15/25(c) | 490 | 465,500 | ||||||||||
Southwestern Energy Co. | ||||||||||||
4.10%, 03/15/22 | 158 | 156,025 | ||||||||||
7.50%, 04/01/26 | 36 | 35,190 | ||||||||||
8.38%, 09/15/28 | 31 | 30,461 | ||||||||||
Sunoco Logistics Partners Operations LP | ||||||||||||
4.00%, 10/01/27 | 35 | 35,766 | ||||||||||
5.30%, 04/01/44 | 115 | 107,144 | ||||||||||
5.40%, 10/01/47 | 106 | 100,082 | ||||||||||
Sunoco LP/Sunoco Finance Corp. | ||||||||||||
5.50%, 02/15/26 | 8 | 7,990 | ||||||||||
5.88%, 03/15/28 | 151 | 154,397 | ||||||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.(c) | ||||||||||||
5.50%, 09/15/24 | 9 | 8,460 | ||||||||||
7.50%, 10/01/25 | 44 | 44,178 | ||||||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||||||||||||
5.13%, 02/01/25 | 75 | 74,813 | ||||||||||
5.38%, 02/01/27 | 17 | 17,096 | ||||||||||
5.50%, 03/01/30(c) | 255 | 255,268 | ||||||||||
4.88%, 02/01/31(c) | 97 | 93,937 | ||||||||||
Transocean, Inc., 11.50%, 01/30/27(c) | 167 | 68,503 | ||||||||||
Viper Energy Partners LP, 5.38%, 11/01/27(c) | 117 | 115,245 | ||||||||||
Western Midstream Operating LP | ||||||||||||
4.00%, 07/01/22 | 36 | 36,213 | ||||||||||
4.65%, 07/01/26 | 176 | 171,160 | ||||||||||
4.75%, 08/15/28 | 95 | 91,341 | ||||||||||
5.30%, 03/01/48 | 54 | 43,470 | ||||||||||
5.50%, 08/15/48 | 6 | 4,950 | ||||||||||
6.25%, 02/01/50 | 99 | 91,699 | ||||||||||
WPX Energy, Inc. | ||||||||||||
8.25%, 08/01/23 | 261 | 294,930 | ||||||||||
5.75%, 06/01/26 | 28 | 28,980 | ||||||||||
5.25%, 10/15/27 | 78 | 79,170 |
8 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||||||
WPX Energy, Inc. (continued) | ||||||||||||
5.88%, 06/15/28 | USD | 66 | $ | 68,970 | ||||||||
4.50%, 01/15/30 | 59 | 58,005 | ||||||||||
|
| |||||||||||
15,366,078 | ||||||||||||
Personal Products — 0.0% | ||||||||||||
Edgewell Personal Care Co., | 57 | 59,977 | ||||||||||
|
| |||||||||||
Pharmaceuticals — 0.5% | ||||||||||||
Bausch Health Americas, Inc., 8.50%, 01/31/27(c) | 173 | 190,084 | ||||||||||
Bausch Health Cos., Inc. | ||||||||||||
4.50%, 05/15/23 | EUR | 140 | 162,610 | |||||||||
6.13%, 04/15/25(c) | USD | 3 | 3,071 | |||||||||
9.00%, 12/15/25(c) | 382 | 415,540 | ||||||||||
7.00%, 01/15/28(c) | 185 | 196,100 | ||||||||||
6.25%, 02/15/29(c) | 168 | 172,798 | ||||||||||
5.25%, 01/30/30(c) | 95 | 93,575 | ||||||||||
Catalent Pharma Solutions, Inc., 5.00%, 07/15/27(c) | 134 | 139,360 | ||||||||||
Charles River Laboratories International, Inc., 4.25%, 05/01/28(c) | 63 | 66,118 | ||||||||||
Elanco Animal Health, Inc., 5.90%, 08/28/28 | 69 | 79,695 | ||||||||||
Endo Dac/Endo Finance LLC/Endo Finco, Inc.(c) | ||||||||||||
9.50%, 07/31/27 | 102 | 106,590 | ||||||||||
6.00%, 06/30/28 | 91 | 66,885 | ||||||||||
Jaguar Holding Co. II/PPD Development LP(c) | ||||||||||||
4.63%, 06/15/25 | 172 | 177,160 | ||||||||||
5.00%, 06/15/28 | 161 | 168,044 | ||||||||||
MEDNAX, Inc.(c) | ||||||||||||
5.25%, 12/01/23 | 122 | 123,525 | ||||||||||
6.25%, 01/15/27 | 62 | 64,322 | ||||||||||
Par Pharmaceutical, Inc., 7.50%, 04/01/27(c) | 254 | 266,111 | ||||||||||
Synlab Unsecured Bondco PLC, 8.25%, 07/01/23 | EUR | 100 | 119,883 | |||||||||
West Street Merger Sub, Inc., | USD | 134 | 136,652 | |||||||||
|
| |||||||||||
2,748,123 | ||||||||||||
Producer Durables: Miscellaneous(c) — 0.2% | ||||||||||||
Boxer Parent Co., Inc. | ||||||||||||
7.13%, 10/02/25 | 124 | 132,439 | ||||||||||
9.13%, 03/01/26 | 215 | 227,900 | ||||||||||
Genesys Telecommunications Laboratories, Inc./Greeneden Lux 3 Sarl/Greeneden US Ho, 10.00%, 11/30/24 | 287 | 303,933 | ||||||||||
Open Text Corp., 3.88%, 02/15/28 | 254 | 256,936 | ||||||||||
Open Text Holdings, Inc., 4.13%, 02/15/30 | 54 | 55,536 | ||||||||||
|
| |||||||||||
976,744 | ||||||||||||
Professional Services(c) — 0.0% | ||||||||||||
Gartner, Inc. | ||||||||||||
4.50%, 07/01/28 | 110 | 115,638 | ||||||||||
3.75%, 10/01/30 | 137 | 138,582 | ||||||||||
|
| |||||||||||
254,220 | ||||||||||||
Real Estate Management & Development — 0.3% | ||||||||||||
Consus Real Estate AG, 9.63%, 05/15/24 | EUR | 100 | 124,638 | |||||||||
Cushman & Wakefield US Borrower LLC, 6.75%, 05/15/28(c) | USD | 842 | 874,122 | |||||||||
Greystar Real Estate Partners LLC, 5.75%, 12/01/25(c) | 24 | 24,180 |
Security | Par (000) | Value | ||||||||||
Real Estate Management & Development (continued) | ||||||||||||
Howard Hughes Corp., 5.38%, 08/01/28(c) | USD | 109 | $ | 108,944 | ||||||||
Realogy Group LLC/Realogy Co-Issuer Corp., | 171 | 179,123 | ||||||||||
Unique Pub Finance Co. PLC, Series A4, 5.66%, 06/30/27 | GBP | 47 | 61,921 | |||||||||
|
| |||||||||||
1,372,928 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.4% | ||||||||||||
Broadcom, Inc. | ||||||||||||
4.70%, 04/15/25 | USD | 910 | 1,034,045 | |||||||||
3.15%, 11/15/25 | 514 | 556,728 | ||||||||||
4.30%, 11/15/32 | 190 | 217,054 | ||||||||||
ON Semiconductor Corp., 3.88%, 09/01/28(c) | 106 | 107,492 | ||||||||||
Qorvo, Inc., 3.38%, 04/01/31(c) | 128 | 130,080 | ||||||||||
Sensata Technologies, Inc., 3.75%, 02/15/31(c) | 81 | 80,494 | ||||||||||
|
| |||||||||||
2,125,893 | ||||||||||||
Software(c) — 0.6% | ||||||||||||
ANGI Group LLC, 3.88%, 08/15/28 | 84 | 83,160 | ||||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28 | 122 | 123,296 | ||||||||||
CDK Global, Inc., 5.25%, 05/15/29 | 54 | 57,510 | ||||||||||
MSCI, Inc. | ||||||||||||
4.00%, 11/15/29 | 58 | 60,900 | ||||||||||
3.88%, 02/15/31 | 132 | 137,570 | ||||||||||
PTC, Inc. | ||||||||||||
3.63%, 02/15/25 | 37 | 37,555 | ||||||||||
4.00%, 02/15/28 | 80 | 82,226 | ||||||||||
Solera LLC/Solera Finance, Inc., 10.50%, 03/01/24 | 1,315 | 1,374,175 | ||||||||||
SS&C Technologies, Inc., 5.50%, 09/30/27 | 254 | 269,931 | ||||||||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 5.75%, 06/01/25 | 190 | 199,025 | ||||||||||
Veritas US, Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 | 587 | 605,344 | ||||||||||
|
| |||||||||||
3,030,692 | ||||||||||||
Specialty Retail(c) — 0.1% | ||||||||||||
Gap, Inc., 8.88%, 05/15/27 | 105 | 119,437 | ||||||||||
L Brands, Inc. | ||||||||||||
6.88%, 07/01/25 | 133 | 143,640 | ||||||||||
6.63%, 10/01/30 | 46 | 46,805 | ||||||||||
Michaels Stores, Inc., 4.75%, 10/01/27(i) | 51 | 50,554 | ||||||||||
PetSmart, Inc., 7.13%, 03/15/23 | 185 | 186,619 | ||||||||||
|
| |||||||||||
547,055 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.0% | ||||||||||||
Seagate HDD Cayman, 4.13%, 01/15/31(c) | 30 | 32,376 | ||||||||||
|
| |||||||||||
Telecommunications Equipment(c) — 0.1% | ||||||||||||
ViaSat, Inc. | ||||||||||||
5.63%, 04/15/27 | 258 | 265,417 | ||||||||||
6.50%, 07/15/28 | 115 | 115,167 | ||||||||||
|
| |||||||||||
380,584 | ||||||||||||
Textiles, Apparel & Luxury Goods — 0.0% | ||||||||||||
Hanesbrands, Inc., 5.38%, 05/15/25(c) | 71 | 74,905 | ||||||||||
Levi Strauss & Co., 5.00%, 05/01/25 | 40 | 40,925 |
S C H E D U L E O F I N V E S T M E N T S | 9 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Textiles, Apparel & Luxury Goods (continued) | ||||||||||||
William Carter Co., 5.50%, 05/15/25(c) | USD | 23 | $ | 24,093 | ||||||||
Wolverine World Wide Inc., | 24 | 25,320 | ||||||||||
|
| |||||||||||
165,243 | ||||||||||||
Thrifts & Mortgage Finance — 0.1% | ||||||||||||
Genworth Mortgage Holdings, Inc., 6.50%, | 128 | 133,721 | ||||||||||
MGIC Investment Corp., 5.25%, 08/15/28 | 63 | 64,980 | ||||||||||
Nationstar Mortgage Holdings, Inc.(c) | 58 | 59,123 | ||||||||||
5.50%, 08/15/28 | 81 | 80,899 | ||||||||||
|
| |||||||||||
338,723 | ||||||||||||
Utilities — 0.0% | ||||||||||||
Vistra Operations Co. LLC, | 99 | 104,465 | ||||||||||
|
| |||||||||||
Wireless Telecommunication Services — 0.5% | ||||||||||||
Altice France SA(c) | 391 | 409,729 | ||||||||||
8.13%, 02/01/27 | 334 | 364,060 | ||||||||||
GLP Capital LP/GLP Financing II, Inc. 5.30%, 01/15/29 | 25 | 27,842 | ||||||||||
4.00%, 01/15/31 | 386 | 401,838 | ||||||||||
Gogo Intermediate Holdings LLC/Gogo Finance Co., Inc., 9.88%, 05/01/24(c) | 4 | 4,276 | ||||||||||
SBA Communications Corp., 3.88%, 02/15/27(c) | 650 | 659,750 | ||||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC | 35 | 35,197 | ||||||||||
8.25%, 10/15/23 | 71 | 69,935 | ||||||||||
VICI Properties LP/VICI Note Co., Inc.(c) | 530 | 532,464 | ||||||||||
4.63%, 12/01/29 | 321 | 326,617 | ||||||||||
|
| |||||||||||
2,831,708 | ||||||||||||
|
| |||||||||||
Total Corporate Bonds — 21.9% | 114,462,387 | |||||||||||
|
| |||||||||||
Floating Rate Loan Interests(e) |
| |||||||||||
Aerospace & Defense — 2.1% | ||||||||||||
Bleriot US Bidco, Inc. | ||||||||||||
Delayed Draw Term Loan, (3 mo. LIBOR + 4.75%), 4.97%, 10/31/26 | 112 | 110,718 | ||||||||||
Term Loan B, (3 mo. LIBOR + 4.75%), 4.97%, 10/31/26 | 714 | 708,595 | ||||||||||
Dynasty Acquisition Co., Inc. | ||||||||||||
2020 CAD Term Loan B2, (3 mo. LIBOR + 3.50%), 3.72%, 04/06/26 | 1,809 | 1,590,617 | ||||||||||
2020 Term Loan B1, (3 mo. LIBOR + 3.50%), 3.72%, 04/06/26 | 3,365 | 2,958,547 | ||||||||||
Nordam Group, Inc., Term Loan B, (PRIME + 4.50%), 5.69%, 04/09/26(a) | 780 | 655,301 | ||||||||||
Spirit Aerosystems, Inc., 2020 Term Loan B, 01/31/25(a)(k) | 893 | 890,767 | ||||||||||
Trandigm, Inc., 2020 Term Loan F, (1 mo. LIBOR + 2.25%), 2.40%, 12/09/25 | 4,228 | 3,990,155 | ||||||||||
TransDigm, Inc., 2020 Term Loan G, (1 mo. LIBOR + 2.25%), 2.40%, 08/22/24 | 269 | 254,357 | ||||||||||
|
| |||||||||||
11,159,057 |
Security | Par (000) | Value | ||||||||||
Air Freight & Logistics — 0.6% | ||||||||||||
WestJet Airlines Ltd., Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 12/11/26 | USD | 3,643 | $ | 3,149,013 | ||||||||
|
| |||||||||||
Airlines — 1.2% | ||||||||||||
American Airlines, Inc. | ||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 1.75%), 1.90%, 01/29/27 | 455 | 330,160 | ||||||||||
2017 Incremental Term Loan, (1 mo. LIBOR + 2.00%), 2.15%, 12/14/23 | 2,278 | 1,854,876 | ||||||||||
Repriced TL B due 2023, (1 mo. LIBOR + 2.00%), 2.15%, 04/28/23 | 1,588 | 1,294,655 | ||||||||||
JetBlue Airways Corp., Term Loan, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 06/17/24 | 678 | 672,619 | ||||||||||
Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 06/20/27 | 2,112 | 2,144,863 | ||||||||||
|
| |||||||||||
6,297,173 | ||||||||||||
Auto Components — 2.3% | ||||||||||||
Panther BF Aggregator 2 LP, USD Term Loan B, (1 mo. LIBOR + 3.50%), 3.65%, 04/30/26 | 5,622 | 5,469,229 | ||||||||||
USI, Inc. | ||||||||||||
2017 Repriced Term Loan, (3 mo. LIBOR + 3.00%), 3.22%, 05/16/24 | 4,405 | 4,253,960 | ||||||||||
2019 Incremental Term Loan B, (3 mo. LIBOR + 4.00%), 4.22%, 12/02/26 | 251 | 248,172 | ||||||||||
Wand NewCo 3, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 3.15%, 02/05/26 | 2,331 | 2,246,108 | ||||||||||
|
| |||||||||||
12,217,469 | ||||||||||||
Banks — 0.7% | ||||||||||||
Capri Finance LLC, USD 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), 3.26%, 11/01/24 | 3,795 | 3,788,931 | ||||||||||
|
| |||||||||||
Building Materials — 0.4% | ||||||||||||
Allied Universal Holdco LLC, 2019 Term Loan B, (1 mo. LIBOR + 4.25%), 4.40%, 07/12/26 | 2,091 | 2,065,656 | ||||||||||
|
| |||||||||||
Building Products — 1.2% | ||||||||||||
CPG International, Inc., 2017 Term Loan, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 05/05/24 | 1,529 | 1,522,030 | ||||||||||
LSF10 XL Bidco SCA, EUR Term Loan B3, (EURIBOR + 4.00%), 4.00%, 10/12/26 | EUR | 1,000 | 1,116,336 | |||||||||
Wilsonart LLC, 2017 Term Loan B, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/19/23 | USD | 3,761 | 3,723,677 | |||||||||
|
| |||||||||||
6,362,043 | ||||||||||||
Capital Markets — 1.9% | ||||||||||||
Deerfield Dakota Holding LLC, 2020 USD Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 04/09/27 | 3,784 | 3,756,597 | ||||||||||
FinCo I LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.50%), 2.73%, 06/27/25 | — | (l) | 274 | |||||||||
Greenhill & Co., Inc., Term Loan B, (1 mo. LIBOR + 3.25%), 3.40%, 04/12/24(a) | 566 | 553,993 | ||||||||||
GT Polaris, Inc., Term Loan B, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 09/24/27 | 735 | 728,797 | ||||||||||
Jefferies Finance LLC, 2019 Term Loan, (1 mo. LIBOR + 3.25%), 3.44%, 06/03/26(a) | 1,314 | 1,258,211 |
10 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Capital Markets (continued) | ||||||||||||
Travelport Finance (Luxembourg) Sarl |
| |||||||||||
2019 Term Loan, (3 mo. LIBOR + 5.00%), 5.22%, 05/29/26 | USD | 2,626 | $ | 1,969,367 | ||||||||
2020 Super Priority Term Loan, (3 mo. LIBOR + 7.00%), 8.00%, 02/28/25 | 1,470 | 1,410,332 | ||||||||||
|
| |||||||||||
9,677,571 | ||||||||||||
Chemicals — 4.8% | ||||||||||||
Alpha 3 BV, 2017 Term Loan B1, (3 mo. LIBOR + 3.00%, 1.00% Floor), | 2,744 | 2,696,833 | ||||||||||
Ascend Performance Materials Operations LLC, 2019 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 6.25%, 08/27/26 | 2,966 | 2,953,692 | ||||||||||
Axalta Coating Systems US Holdings, Inc., USD Term Loan B3, (3 mo. LIBOR + 1.75%), 1.97%, 06/01/24 | 1,267 | 1,236,067 | ||||||||||
Charter NEX US Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 05/16/24 | 2,574 | 2,507,242 | ||||||||||
Charter NEX US, Inc., Incremental Term Loan, (1 mo. LIBOR + 3.25%), | 711 | 692,190 | ||||||||||
Chemours Co., 2018 USD Term Loan B, (1 mo. LIBOR + 1.75%), 1.90%, 04/03/25 | 745 | 717,239 | ||||||||||
Element Materials Technology Group US Holdings, Inc., 2017 Term Loan B, (3 mo. LIBOR + 3.50%, 1.00% Floor), | 1,353 | 1,285,663 | ||||||||||
Encapsys LLC, 2020 Term Loan B2, (1 mo. LIBOR + 3.25%, 1.00% Floor), | 1,273 | 1,247,258 | ||||||||||
Illuminate Buyer LLC, Term Loan, (1 Week LIBOR + 4.00%), 4.15%, 06/30/27 | 2,213 | 2,192,524 | ||||||||||
Invictus US LLC | ||||||||||||
1st Lien Term Loan, (1 mo. LIBOR + 3.00%), 3.15%, 03/28/25 | 680 | 661,473 | ||||||||||
2nd Lien Term Loan, (1 mo. LIBOR + 6.75%), 6.90%, 03/30/26 | 1,067 | 992,848 | ||||||||||
Messer Industries GmbH, 2018 USD Term Loan, (3 mo. LIBOR + 2.50%), | 3,303 | 3,228,585 | ||||||||||
Minerals Technologies, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.25%), | 434 | 424,972 | ||||||||||
Momentive Performance Materials, Inc., Term Loan B, (1 mo. LIBOR + 3.25%), | 1,331 | 1,271,576 | ||||||||||
Oxea Holding Drei GmbH, 2017 USD Term Loan B2, (1 mo. LIBOR + 3.50%), | 2,411 | 2,310,847 | ||||||||||
Starfruit Finco BV, 2018 USD Term Loan B, (1 mo. LIBOR + 3.00%), 3.15%, 10/01/25 | 426 | 412,254 | ||||||||||
|
| |||||||||||
24,831,263 | ||||||||||||
Commercial Services & Supplies — 4.7% | ||||||||||||
Advanced Disposal Services, Inc., Term Loan B3, (1 Week LIBOR + 2.25%), | 1,764 | 1,759,695 | ||||||||||
Asplundh Tree Expert LLC, Term Loan B, (3 mo. LIBOR + 2.50%), 2.65%, 09/07/27 | 1,775 | 1,771,681 | ||||||||||
Asurion LLC | ||||||||||||
2017 2nd Lien Term Loan, (1 mo. LIBOR + 6.50%), 6.65%, 08/04/25 | 1,728 | 1,727,908 | ||||||||||
2018 Term Loan B6, (1 mo. LIBOR + 3.00%), 3.15%, 11/03/23 | 1,881 | 1,851,180 |
Security | Par (000) | Value | ||||||||||
Commercial Services & Supplies (continued) | ||||||||||||
Asurion LLC (continued) | USD | 928 | $ | 911,243 | ||||||||
Creative Artists Agency LLC | ||||||||||||
2019 Term Loan B, (1 mo. LIBOR + 3.75%), 3.90%, 11/26/26 | 744 | 713,371 | ||||||||||
2020 Incremental Term Loan B1, (1 mo. LIBOR + 4.25%, 1.00% Floor), | 1,732 | 1,660,455 | ||||||||||
Dealer Tire LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%), 4.40%, 12/12/25 | 2,714 | 2,646,625 | ||||||||||
Diamond (BC) BV, USD Term Loan, (3 mo. LIBOR + 3.00%), 3.26%, 09/06/24 | 2,464 | 2,297,957 | ||||||||||
EnergySolutions LLC, 2018 Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), | 478 | 455,293 | ||||||||||
GFL Environmental, Inc., 2018 USD Term Loan B, (3 mo. LIBOR + 3.00%, | 538 | 535,182 | ||||||||||
Harland Clarke Holdings Corp., Term Loan B7, (3 mo. LIBOR + 4.75%, 1.00% Floor), | 515 | 419,655 | ||||||||||
KAR Auction Services, Inc., 2019 Term Loan B6, (1 mo. LIBOR + 2.25%), | 1,290 | 1,241,261 | ||||||||||
Prime Security Services Borrower LLC, 2019 Term Loan B1, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 09/23/26 | 1,668 | 1,651,134 | ||||||||||
Verscend Holding Corp., 2018 Term Loan B, (1 mo. LIBOR + 4.50%), 4.65%, 08/27/25 | 2,919 | 2,885,775 | ||||||||||
West Corp. | ||||||||||||
2017 Term Loan, (1 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 10/10/24 | 1,023 | 925,959 | ||||||||||
2018 Term Loan B1, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 10/10/24 | 1,408 | 1,270,950 | ||||||||||
|
| |||||||||||
24,725,324 | ||||||||||||
Communications Equipment — 0.2% | ||||||||||||
Avantor, Inc., USD Term Loan B3, (1 mo. LIBOR + 2.25%, 1.00% Floor), | 1,011 | 996,394 | ||||||||||
|
| |||||||||||
Construction & Engineering — 1.2% | ||||||||||||
Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 06/21/24 | 3,191 | 2,962,834 | ||||||||||
Pike Corp., 2020 Term Loan B, (1 mo. LIBOR + 3.00%), 3.15%, 07/24/26 | 494 | 489,060 | ||||||||||
Ply Gem Midco, Inc., 2018 Term Loan, (1 mo. LIBOR + 3.75%), 3.90%, 04/12/25 | 524 | 513,625 | ||||||||||
SRS Distribution, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.00%), | 2,609 | 2,534,882 | ||||||||||
|
| |||||||||||
6,500,401 | ||||||||||||
Construction Materials — 1.9% | ||||||||||||
American Builders & Contractors Supply Co., Inc., 2019 Term Loan, (1 mo. LIBOR + 2.00%), 2.15%, 01/15/27 | 1,611 | 1,564,982 | ||||||||||
Core & Main LP, 2017 Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), | 4,817 | 4,710,476 |
S C H E D U L E O F I N V E S T M E N T S | 11 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Construction Materials (continued) | ||||||||
Filtration Group Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.00%), | USD | 2,496 | $ | 2,443,259 | ||||
Forterra Finance LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), | 1,081 | 1,068,454 | ||||||
|
| |||||||
9,787,171 | ||||||||
Containers & Packaging — 2.6% | ||||||||
Berry Global, Inc. | ||||||||
Term Loan W, (1 mo. LIBOR + 2.00%), 2.16%, 10/01/22 | 5,590 | 5,536,379 | ||||||
Term Loan Y, (1 mo. LIBOR + 2.00%), 2.16%, 07/01/26 | 1,795 | 1,739,348 | ||||||
BWAY Holding Co., 2017 Term Loan B, (3 mo. LIBOR + 3.25%), 3.52%, 04/03/24 | 2,260 | 2,116,915 | ||||||
Flex Acquisition Co., Inc., 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), | 1,965 | 1,918,795 | ||||||
Graham Packaging Co., Inc., Term Loan, (1 mo. LIBOR + 3.75%), 4.50%, 08/04/27 | 753 | 747,669 | ||||||
Pregis TopCo Corp., 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 3.90%, 08/01/26 | 553 | 544,249 | ||||||
Tosca Services LLC, 2020 Term Loan B, (1 mo. LIBOR + 4.25%, 1.00% Floor), | 735 | 734,081 | ||||||
|
| |||||||
13,337,436 | ||||||||
Distributors — 0.7% | ||||||||
TMK Hawk Parent Corp. | ||||||||
2020 Super Priority First Out Term Loan A, (3 mo. LIBOR + 9.50%, 1.00% Floor), | 986 | 946,956 | ||||||
2020 Super Priority Second Out Term Loan B, (3 mo. LIBOR + 3.50%), | 3,287 | 2,859,638 | ||||||
|
| |||||||
3,806,594 | ||||||||
Diversified Consumer Services — 3.1% | ||||||||
Amentum Government Services Holdings LLC, Term Loan B, (1 mo. LIBOR + 3.50%), 3.65%, 01/31/27 | 641 | 629,457 | ||||||
Ascend Learning LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), | 1,198 | 1,180,176 | ||||||
BidFair MergerRight, Inc., Term Loan B, (1 mo. LIBOR + 5.50%, 1.00% Floor), | 3,080 | 3,060,333 | ||||||
Bright Horizons Family Solutions, Inc., 2017 Term Loan B, (1 mo. LIBOR + 1.75%), 2.50%, 11/07/23 | 1,771 | 1,712,895 | ||||||
Genuine Financial Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), | �� | 3,019 | 2,745,158 | |||||
LEB Holdings (USA), Inc, Term Loan B, 09/25/27(k) | 506 | 501,573 | ||||||
Nomad Foods Europe Midco Ltd., 2017 USD Term Loan B4, (1 mo. LIBOR + 2.25%), 2.40%, 05/15/24 | 1,121 | 1,088,595 |
Security | Par (000) | Value | ||||||
Diversified Consumer Services (continued) | ||||||||
Serta Simmons Bedding LLC | ||||||||
2020 Super Priority First Out Term Loan, (1 mo. LIBOR + 7.50%), 8.50%, 08/10/23 | USD | 422 | $ | 415,998 | ||||
2020 Super Priority Second Out Term Loan, (1 mo. LIBOR + 7.50%, 1.00% Floor), | 865 | 702,948 | ||||||
TruGreen LP, 2019 Term Loan, (1 mo. LIBOR + 3.75%), 3.90%, 03/19/26 | 2,027 | 2,004,968 | ||||||
Uber Technologies, Inc., 2018 Incremental Term Loan, (1 mo. LIBOR + 3.50%), 3.65%, 07/13/23 | 2,431 | 2,386,893 | ||||||
|
| |||||||
16,428,994 | ||||||||
Diversified Financial Services — 3.6% | ||||||||
Advisor Group, Inc., 2019 Term Loan B, (1 mo. LIBOR + 5.00%), 5.15%, 08/01/26 | 954 | 922,126 | ||||||
Alchemy Copyrights LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 4.00%, 08/14/27(a) | 763 | 761,092 | ||||||
AlixPartners LLP, 2017 Term Loan B, (1 mo. LIBOR + 2.50%), 2.64%, 04/04/24 | 5,015 | 4,885,691 | ||||||
Allsup’s Convenience Stores, Inc., Term Loan, (1 mo. LIBOR + 6.25%), 6.40%, 11/18/24 | 864 | 863,816 | ||||||
EG Finco Ltd., 2018 Term Loan, (3 mo. LIBOR + 4.00%), 4.22%, 02/07/25 | 1,164 | 1,138,730 | ||||||
Kingpin Intermediate Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 07/03/24 | 1,345 | 1,143,043 | ||||||
Milano Acquisition Corp, Term Loan, 08/17/27(k) | 2,258 | 2,229,775 | ||||||
SMG US Midco 2, Inc., 2020 Term Loan, (3 mo. LIBOR + 2.50%), 2.76%, 01/23/25 | 1,739 | 1,512,780 | ||||||
SSH Group Holdings, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 4.25%), 4.47%, 07/30/25 | 559 | 529,038 | ||||||
VS Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 3.40%, 02/28/27 | 3,077 | 3,018,103 | ||||||
Ziggo Financing Partnership, USD Term Loan I, (1 mo. LIBOR + 2.50%), 2.65%, 04/30/28 | 1,876 | 1,802,254 | ||||||
|
| |||||||
18,806,448 | ||||||||
Diversified Telecommunication Services — 2.3% | ||||||||
Cablevision Lightpath LLC, Term Loan B, 09/09/27(k) | 510 | 506,813 | ||||||
Consolidated Communications, Inc., 2020 Term Loan B, 10/17/27(k) | 998 | 986,463 | ||||||
GCI Holdings, Inc., 2020 Term Loan B, | 1,102 | 1,093,735 | ||||||
Hargray Communications Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 05/16/24 | 1,653 | 1,640,594 | ||||||
Iridium Satellite LLC, Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 11/04/26 | 1,549 | 1,544,024 | ||||||
Level 3 Financing, Inc., 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 1.90%, 03/01/27 | 1,676 | 1,622,398 | ||||||
MTN Infrastructure TopCo, Inc., 1st Lien Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 11/15/24 | 2,340 | 2,297,665 |
12 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Diversified Telecommunication Services (continued) | ||||||||||||
Northwest Fiber LLC, Term Loan B, (3 mo. LIBOR + 5.50%), 5.66%, 04/30/27 | USD | 844 | $ | 841,775 | ||||||||
Virgin Media SFA Finance Ltd., GBP Term Loan L, (LIBOR - GBP + 3.25%), 3.30%, 01/15/27 | GBP | 1,400 | 1,742,033 | |||||||||
|
| |||||||||||
12,275,500 | ||||||||||||
Electric Utilities — 0.2% | ||||||||||||
Pacific Gas & Electric Co., 2020 Term Loan, (3 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 06/23/25 | USD | 1,279 | 1,251,084 | |||||||||
Texas Competitive Electric Holdings Co. LLC/TCEH Finance, Inc., Term Loan, 1.00%, 11/10/20(a)(b)(d) | 2,375 | — | ||||||||||
|
| |||||||||||
1,251,084 | ||||||||||||
Energy Equipment & Services — 1.2% | ||||||||||||
Dell International LLC, 2019 Term Loan B, 09/19/25(k) | 171 | 170,098 | ||||||||||
Gates Global LLC, 2017 USD Repriced Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 04/01/24 | 4,289 | 4,219,354 | ||||||||||
GrafTech Finance, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 02/12/25 | 1,659 | 1,635,399 | ||||||||||
|
| |||||||||||
6,024,851 | ||||||||||||
Entertainment — 0.2% | ||||||||||||
Datto, Inc., 2019 Term Loan B, (1 mo. LIBOR + 4.25%), 4.40%, 04/02/26 | 1,265 | 1,262,021 | ||||||||||
|
| |||||||||||
Equity Real Estate Investment Trusts (REITs) — 0.7% | ||||||||||||
VICI Properties LLC, Replacement Term Loan B, (1 mo. LIBOR + 1.75%), 1.91%, 12/20/24 | 3,938 | 3,800,124 | ||||||||||
|
| |||||||||||
Food & Staples Retailing — 1.2% | ||||||||||||
Hearthside Food Solutions LLC | ||||||||||||
2018 Incremental Term Loan, (1 mo. LIBOR + 4.00%), 4.15%, 05/23/25 | 1,033 | 1,006,789 | ||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.69%), 3.83%, 05/23/25 | 1,405 | 1,361,470 | ||||||||||
2020 Incremental Term Loan B3, (1 mo. LIBOR + 5.00%, 1.00% Floor), 6.00%, 05/23/25 | 180 | 177,904 | ||||||||||
US Foods, Inc. | ||||||||||||
2016 Term Loan B, (1 mo. LIBOR + 1.75%), 1.90%, 06/27/23 | 3,017 | 2,896,743 | ||||||||||
2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.15%, 09/13/26 | 749 | 713,560 | ||||||||||
|
| |||||||||||
6,156,466 | ||||||||||||
Food Products — 3.9% | ||||||||||||
8th Avenue Food & Provisions, Inc., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.65%, 10/01/25 | 1,113 | 1,101,465 | ||||||||||
B&G Foods, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.50%), 2.65%, 10/10/26 | 169 | 168,080 | ||||||||||
Chobani LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 10/10/23 | 4,059 | 4,008,365 | ||||||||||
Froneri International Ltd. | ||||||||||||
2020 USD 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%), | 375 | 371,522 | ||||||||||
2020 USD Term Loan, (1 mo. LIBOR + 2.25%), 2.40%, 01/29/27 | 5,499 | 5,273,365 |
Security | Par (000) | Value | ||||||||||
Food Products (continued) | ||||||||||||
Hostess Brands LLC, 2019 Term Loan, (1 mo. LIBOR + 2.25%), 3.00%, 08/03/25 | USD | 1,218 | $ | 1,196,009 | ||||||||
JBS USA LUX SA, 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.15%, 05/01/26 | 599 | 582,138 | ||||||||||
Pathway Vet Alliance LLC, 2020 Term Loan, (1 mo. LIBOR + 4.00%), 4.15%, 03/31/27 | 479 | 470,511 | ||||||||||
Reynolds Group Holdings, Inc. | ||||||||||||
2017 Term Loan, (PRIME + 1.75%), 3.98%, 02/05/23 | 4,872 | 4,806,920 | ||||||||||
2020 Term Loan, 02/03/26(k) | 1,703 | 1,670,643 | ||||||||||
Shearer’s Foods, Inc., 2020 Term Loan B, 09/23/27(k) | 565 | 560,412 | ||||||||||
|
| |||||||||||
20,209,430 | ||||||||||||
Health Care Equipment & Supplies — 0.9% | ||||||||||||
Ortho-Clinical Diagnostics SA | ||||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.41%, 06/30/25 | 3,847 | 3,675,337 | ||||||||||
EUR Term Loan B, (EURIBOR + 3.50%), 3.50%, 06/30/25 | EUR | 995 | 1,118,466 | |||||||||
|
| |||||||||||
4,793,803 | ||||||||||||
Health Care Providers & Services — 4.5% | ||||||||||||
AHP Health Partners, Inc., 2018 Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 06/30/25 | USD | 830 | 828,456 | |||||||||
CHG Healthcare Services, Inc., 2017 1st Lien Term Loan B, (6 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 06/07/23 | 2,184 | 2,143,973 | ||||||||||
Da Vinci Purchaser Corp., 2019 Term Loan, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.24%, 01/08/27 | 1,114 | 1,099,552 | ||||||||||
DentalCorp Perfect Smile ULC, 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 06/06/25 | 518 | 487,933 | ||||||||||
Envision Healthcare Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.75%), 3.90%, 10/10/25 | 1,731 | 1,245,138 | ||||||||||
EyeCare Partners LLC | ||||||||||||
2020 2nd Lien Term Loan, (1 mo. LIBOR + 8.25%), 8.40%, 02/18/28 | 1,460 | 1,284,800 | ||||||||||
2020 Term Loan, (1 mo. LIBOR + 3.75%), 3.90%, 02/18/27 | 1,602 | 1,503,451 | ||||||||||
Femur Buyer, Inc., 1st Lien Term Loan, 03/05/26(k) | 189 | 170,918 | ||||||||||
Gentiva Health Services, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.25%), 3.44%, 07/02/25 | 2,692 | 2,632,819 | ||||||||||
HC Group Holdings II, Inc., Term Loan B, (1 mo. LIBOR + 4.50%), 4.65%, 08/06/26 | 2,653 | 2,624,221 | ||||||||||
MPH Acquisition Holdings LLC, 2016 Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 06/07/23 | 1,177 | 1,156,679 | ||||||||||
nThrive, Inc., 2016 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 10/20/22 | 1,174 | 1,063,376 |
S C H E D U L E O F I N V E S T M E N T S | 13 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Health Care Providers & Services (continued) |
| |||||||||||
Sotera Health Holdings LLC, 2019 Term Loan, (3 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 12/11/26 | USD | 7,075 | $ | 7,039,414 | ||||||||
Team Health Holdings, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 02/06/24 | 251 | 209,551 | ||||||||||
|
| |||||||||||
23,490,281 | ||||||||||||
Health Care Services — 0.8% | ||||||||||||
Emerald TopCo., Inc., Term Loan, (3 mo. LIBOR + 3.50%), 3.76%, 07/25/26 | 2,418 | 2,322,705 | ||||||||||
WP CityMD Bidco LLC, 2019 Term Loan B, (3 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 08/13/26 | 1,896 | 1,882,759 | ||||||||||
|
| |||||||||||
4,205,464 | ||||||||||||
Health Care Technology — 1.0% | ||||||||||||
Change Healthcare Holdings, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 03/01/24 | 3,399 | 3,323,103 | ||||||||||
GoodRx, Inc., 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 2.90%, 10/10/25 | 1,489 | 1,460,291 | ||||||||||
Quintiles IMS, Inc., 2017 USD Term Loan B1, (1 mo. LIBOR + 1.75%), 1.90%, 03/07/24 | 279 | 274,663 | ||||||||||
|
| |||||||||||
5,058,057 | ||||||||||||
Hotels, Restaurants & Leisure — 6.2% | ||||||||||||
1011778 B.C. Unlimited Liability Co., Term Loan B4, (1 mo. LIBOR + 1.75%), 1.90%, 11/19/26 | 3,273 | 3,132,953 | ||||||||||
Aimbridge Acquisition Co., Inc., 2019 Term Loan B, (1 mo. LIBOR + 3.75%), 3.89%, 02/02/26(a) . | 497 | 442,351 | ||||||||||
Aristocrat Leisure Ltd., 2020 Incremental Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 10/19/24 | 887 | 880,960 | ||||||||||
Aristocrat Technologies, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 1.75%), 2.02%, 10/19/24 | 1,085 | 1,053,746 | ||||||||||
Boyd Gaming Corp., Term Loan B3, (1 Week LIBOR + 2.25%), 2.36%, 09/15/23 | 1,091 | 1,059,910 | ||||||||||
Caesars Resort Collection LLC | ||||||||||||
2017 1st Lien Term Loan B, (1 mo. LIBOR + 2.75%), 2.90%, 12/23/24 | 3,729 | 3,484,166 | ||||||||||
2020 Term Loan, (1 mo. LIBOR + 4.50%), 4.65%, 07/20/25 | 3,800 | 3,672,330 | ||||||||||
CCM Merger, Inc., New Term Loan B, (1 mo. LIBOR + 2.25%), 3.00%, 08/06/21 | 588 | 584,928 | ||||||||||
Equinox Holdings, Inc., 2017 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 03/08/24 | 3,663 | 2,797,950 | ||||||||||
Four Seasons Hotels Ltd., New 1st Lien Term Loan, (1 mo. LIBOR + 2.00%), 2.15%, 11/30/23 | 905 | 878,858 | ||||||||||
Golden Nugget LLC, 2017 Incremental Term Loan B, (1 mo. LIBOR + 2.50%), 3.25%, 10/04/23 | 1,883 | 1,673,711 | ||||||||||
Golden Nugget, Inc., 2020 Initial Term Loan, (3 mo. LIBOR + 12.00%, 1.00% Floor), 13.00%, 10/04/23(a) | 201 | 227,378 | ||||||||||
Herschend Entertainment Co. LLC, Term Loan B, (3 mo. LIBOR + 5.75%, 1.00% Floor), 6.75%, 08/25/25(a) | 533 | 509,015 |
Security | Par (000) | Value | ||||||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||||||
IRB Holding Corp., 2020 Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 02/05/25 | USD | 2,221 | $ | 2,117,096 | ||||||||
KFC Holding Co., 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 1.90%, 04/03/25 | 874 | 851,952 | ||||||||||
Playa Resorts Holding BV, 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 04/29/24 | 685 | 598,475 | ||||||||||
Playtika Holding Corp., Term Loan B, (6 mo. LIBOR + 6.00%, 1.00% Floor), 7.00%, 12/10/24 | 1,663 | 1,662,514 | ||||||||||
Scientific Games International, Inc., 2018 Term Loan B5, (1 mo. LIBOR + 2.75%), 3.61%, 08/14/24 | 1,147 | 1,076,496 | ||||||||||
Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 3.50%), 3.72%, 07/10/25 | 1,222 | 1,217,656 | ||||||||||
Station Casinos LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.25%), 2.50%, 02/08/27 | 2,001 | 1,908,824 | ||||||||||
Whatabrands LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 2.91%, 08/02/26 | 2,771 | 2,706,131 | ||||||||||
|
| |||||||||||
32,537,400 | ||||||||||||
Independent Power and Renewable Electricity Producers — 0.7% | ||||||||||||
Calpine Construction Finance Co. LP, 2017 Term Loan B, (1 mo. LIBOR + 2.00%), 2.15%, 01/15/25 | 670 | 648,365 | ||||||||||
Calpine Corp. | ||||||||||||
2019 Term Loan B10, (1 mo. LIBOR + 2.00%), 2.15%, 08/12/26 | 1,064 | 1,032,092 | ||||||||||
Term Loan B9, (1 mo. LIBOR + 2.25%), 2.40%, 04/06/26 | 1,928 | 1,873,781 | ||||||||||
|
| |||||||||||
3,554,238 | ||||||||||||
Industrial Conglomerates — 2.1% | ||||||||||||
Sequa Mezzanine Holdings LLC, 2020 Extended Term Loan, (3 mo. LIBOR + 6.75%, 1.00% Floor), 7.75%, 11/28/23 | 1,490 | 1,410,102 | ||||||||||
Vertical US Newco, Inc., USD Term Loan B, (3 mo. LIBOR + 4.25%), 4.57%, 07/30/27 | 1,712 | 1,695,804 | ||||||||||
Vertiv Group Corpo., Term Loan B, (1 mo. LIBOR + 3.00%), 3.16%, 03/02/27 | 7,858 | 7,724,216 | ||||||||||
|
| |||||||||||
10,830,122 | ||||||||||||
Insurance — 3.9% | ||||||||||||
Alliant Holdings I, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.75%), 2.90%, 05/09/25 | 2,447 | 2,372,836 | ||||||||||
Alliant Holdings Intermediate LLC, Term Loan B, (1 mo. LIBOR + 3.25%), 3.40%, 05/09/25 | 1,193 | 1,170,124 | ||||||||||
AmWINS Group, Inc., 2017 Term Loan B, (1 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 01/25/24 | 3,251 | 3,217,542 | ||||||||||
AssuredPartners Capital, Inc., 2020 Incremental Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 02/13/27 | 604 | 601,199 | ||||||||||
AssuredPartners, Inc., 2020 Term Loan B, (1 mo. LIBOR + 3.50%), 3.65%, 02/13/27 | 1,562 | 1,514,741 | ||||||||||
HUB International Ltd. | ||||||||||||
2018 Term Loan B, (3 mo. LIBOR + 3.00%), 3.26%, 04/25/25 | 2,816 | 2,718,053 |
14 |
|
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Insurance (continued) |
| |||||||||||
HUB International Ltd. (continued) | ||||||||||||
2019 Incremental Term Loan B, (3 mo. LIBOR + 4.00%, 1.00% Floor), 5.00%, 04/25/25 | USD | 1,423 | $ | 1,416,773 | ||||||||
Ryan Specialty Group LLC, Term Loan, (1 mo. LIBOR + 3.25%), 4.00%, 09/01/27 | 1,467 | 1,451,421 | ||||||||||
Sedgwick Claims Management Services, Inc. |
| |||||||||||
2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.40%, 12/31/25 | 2,614 | 2,518,119 | ||||||||||
2019 Term Loan B, (1 mo. LIBOR + 4.00%), 4.15%, 09/03/26 | 2,083 | 2,049,315 | ||||||||||
2020 Term Loan B3, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 09/03/26 | 1,501 | 1,487,987 | ||||||||||
|
| |||||||||||
20,518,110 | ||||||||||||
Interactive Media & Services — 1.9% | ||||||||||||
Ancestry.com Operations Inc., 2019 Extended Term Loan B, (1 mo. LIBOR + 4.25%), 4.40%, 08/27/26 | 355 | 354,032 | ||||||||||
Ancestry.com Operations, Inc., Non-Extended Term Loan B, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 10/19/23 | 2,761 | 2,755,592 | ||||||||||
Camelot US Acquisition 1 Co., 2020 Incremental Term Loan B, 10/31/26(k) | 3,763 | 3,742,604 | ||||||||||
Go Daddy Operating Co. LLC, 2020 Term Loan B3, (1 mo. LIBOR + 2.50%), 2.65%, 08/10/27 | 1,726 | 1,697,995 | ||||||||||
Rackspace Hosting, Inc., 2017 Incremental 1st Lien Term Loan, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 11/03/23 | 334 | 327,108 | ||||||||||
TierPoint LLC, 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 05/06/24 | 871 | 845,154 | ||||||||||
|
| |||||||||||
9,722,485 | ||||||||||||
IT Services — 6.4% | ||||||||||||
Aruba Investments, Inc., 2020 USD Term Loan B, (6 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 07/07/25 | 459 | 455,365 | ||||||||||
Camelot U.S. Acquisition 1 Co., Term Loan B, (1 mo. LIBOR + 3.00%), 3.15%, 10/31/26 | 3,619 | 3,545,771 | ||||||||||
Flexential Intermediate Corp., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 1.00% Floor), 7.50%, 08/01/25 | 1,121 | 658,587 | ||||||||||
Greeneden US Holdings II LLC, 2018 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.40%, 12/01/23 | 4,253 | 4,238,827 | ||||||||||
GreenSky Holdings LLC, 2020 Term Loan B2, (1 mo. LIBOR + 4.50%), 5.50%, 03/29/25(a) | 1,383 | 1,334,146 | ||||||||||
PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 3.65%, 02/12/27 | 2,845 | 2,498,514 | ||||||||||
Sophia LP(k) | ||||||||||||
2020 1st Lien Term Loan, 09/22/27 | 4,577 | 4,543,817 | ||||||||||
2020 2nd Lien Term Loan, 09/17/27 | 3,730 | 3,636,750 | ||||||||||
Trans Union LLC, 2019 Term Loan B5, (1 mo. LIBOR + 1.75%), 1.90%, 11/16/26 | 3,338 | 3,249,719 |
Security | Par (000) | Value | ||||||||||
IT Services (continued) |
| |||||||||||
Veritas US, Inc., 2020 USD Term Loan B, (3 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 09/01/25 | USD | 7,140 | $ | 6,979,828 | ||||||||
WEX, Inc., Term Loan B3, (1 mo. LIBOR + 2.25%), 2.40%, 05/15/26 | 2,222 | 2,142,719 | ||||||||||
|
| |||||||||||
33,284,043 | ||||||||||||
Leisure Products — 0.1% | ||||||||||||
MND Holdings III Corp., 2018 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 06/19/24 | 784 | 627,434 | ||||||||||
|
| |||||||||||
Life Sciences Tools & Services — 0.5% | ||||||||||||
Albany Molecular Research, Inc., 2017 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%, 1.00% Floor), 8.00%, 08/30/25 | 75 | 73,750 | ||||||||||
eResearchTechnology, Inc., 2020 1st Lien Term Loan, (1 mo. LIBOR + 4.50%, 1.00% Floor), 5.50%, 02/04/27 | 2,476 | 2,462,896 | ||||||||||
|
| |||||||||||
2,536,646 | ||||||||||||
Machinery — 1.7% | ||||||||||||
Ingersoll-Rand Services Co., 2020 USD Spinco Term Loan, (1 mo. LIBOR + 1.75%), 1.90%, 02/28/27 | 2,639 | 2,547,123 | ||||||||||
Terex Corp., 2019 Term Loan B1, (1 mo. LIBOR + 2.75%), 3.50%, 01/31/24(a) | 383 | 373,586 | ||||||||||
Titan Acquisition Ltd., 2018 Term Loan B, (3 mo. LIBOR + 3.00%), 3.36%, 03/28/25 | 6,062 | 5,711,642 | ||||||||||
|
| |||||||||||
8,632,351 | ||||||||||||
Media — 13.8% | ||||||||||||
Altice Financing SA | ||||||||||||
2017 USD Term Loan B, (1 mo. LIBOR + 2.75%), 2.90%, 07/15/25 | 661 | 630,323 | ||||||||||
USD 2017 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 2.89%, 01/31/26 | 1,763 | 1,662,085 | ||||||||||
Altice France SA, 2018 Term Loan B13, (1 mo. LIBOR + 4.00%), 4.15%, 08/14/26 | 2,838 | 2,751,781 | ||||||||||
Charter Communications Operating LLC, 2019 Term Loan B1, (1 mo. LIBOR + 1.75%), 1.90%, 04/30/25 | 3,599 | 3,530,592 | ||||||||||
Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 3.76%, 08/21/26 | 5,862 | 5,320,873 | ||||||||||
Cogeco Communications Finance (USA) LP, Term Loan B, (1 mo. LIBOR + 2.00%), 2.15%, 01/03/25 | 122 | 118,505 | ||||||||||
Connect Finco Sarl, Term Loan B, (1 mo. LIBOR + 0.45%, 1.00% Floor), 4.65%, 12/12/26 | 8,370 | 8,103,519 | ||||||||||
CSC Holdings LLC | ||||||||||||
2017 Term Loan B1, (1 mo. LIBOR + 2.25%), 2.40%, 07/17/25 | 590 | 569,340 | ||||||||||
2019 Term Loan B5, (1 mo. LIBOR + 2.50%), 2.65%, 04/15/27 | 1,981 | 1,916,991 | ||||||||||
Gray Television, Inc., 2018 Term Loan C, (1 mo. LIBOR + 2.50%), 2.66%, 01/02/26 | 1,461 | 1,433,824 | ||||||||||
Intelsat Jackson Holdings SA | ||||||||||||
2017 Term Loan B3, (PRIME + 4.75%), 8.00%, 11/27/23 | 455 | 456,579 |
S C H E D U L E O F I N V E S T M E N T S | 15 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Media (continued) | ||||||||||||
Intelsat Jackson Holdings SA (continued) | ||||||||||||
2020 DIP Term Loan, (3 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 07/13/22 | USD | 79 | $ | 80,024 | ||||||||
Learfield Communications LLC, 2016 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 12/01/23 | 3,868 | 3,276,923 | ||||||||||
Liberty Latin America Ltd., Term Loan B, (1 mo. LIBOR + 5.00%), 5.15%, 10/15/26 | 1,488 | 1,484,905 | ||||||||||
Lions Gate Capital Holdings LLC, 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 2.40%, 03/24/25 | 1,564 | 1,505,137 | ||||||||||
Live Nation Entertainment, Inc., Term Loan B4, (1 mo. LIBOR + 1.75%), 1.94%, 10/19/26 | 2,007 | 1,864,418 | ||||||||||
MH Sub I LLC | ||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.50%), 3.65%, 09/13/24 | 3,604 | 3,500,426 | ||||||||||
2020 Incremental Term Loan, (1 mo. LIBOR + 3.75%, 1.00% Floor), 4.75%, 09/15/24 | 717 | 707,563 | ||||||||||
Midcontinent Communications, 2019 Term Loan B, (1 mo. LIBOR + 1.75%), 1.90%, 08/15/26 | 840 | 823,062 | ||||||||||
Nexstar Broadcasting, Inc., 2019 Term Loan B4, (1 mo. LIBOR + 2.75%), 2.91%, 09/19/26 | 1,720 | 1,679,402 | ||||||||||
PSAV Holdings LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 03/03/25 | 4,418 | 3,280,224 | ||||||||||
Radiate Holdco LLC | ||||||||||||
1st Lien Term Loan, 09/25/26(k) | 2,270 | 2,229,746 | ||||||||||
2020 Term Loan, (1 mo. LIBOR + 3.50%), 4.25%, 09/25/26 | 213 | 209,402 | ||||||||||
Terrier Media Buyer, Inc., Term Loan B, (1 mo. LIBOR + 4.25%), 4.40%, 12/17/26 | 2,611 | 2,542,939 | ||||||||||
Trader Corp., 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 09/28/23 | 4,338 | 4,207,982 | ||||||||||
UFC Holdings LLC, 2019 Term Loan, (6 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 04/29/26 | 649 | 636,460 | ||||||||||
Virgin Media Bristol LLC | ||||||||||||
2020 USD Term Loan Q, 01/31/29(k) | 2,097 | 2,059,317 | ||||||||||
USD Term Loan N, (1 mo. LIBOR + 2.50%), 2.65%, 01/31/28 | 2,578 | 2,498,747 | ||||||||||
William Morris Endeavor Entertainment LLC, 2018 1st Lien Term Loan, (1 mo. LIBOR + 2.75%), 2.90%, 05/18/25 | 3,164 | 2,693,220 | ||||||||||
Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 3.15%, 03/09/27 | 10,632 | 10,303,530 | ||||||||||
|
| |||||||||||
72,077,839 | ||||||||||||
Metals & Mining — 0.4% | ||||||||||||
Ball Metalpack LLC, 2018 1st Lien Term Loan B, (3 mo. LIBOR + 4.50%), 4.76%, 07/31/25 | 2,055 | 1,971,080 | ||||||||||
|
| |||||||||||
Multiline Retail — 0.2% | ||||||||||||
Eyemart Express LLC, 2017 Term Loan B, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 08/04/24 | 907 | 875,959 | ||||||||||
Neiman Marcus Group Ltd. LLC, 2020 Exit Term Loan, (3 mo. LIBOR + 12.00%, 1.00% Floor), 13.00%, 09/25/25 | 115 | 117,518 | ||||||||||
|
| |||||||||||
993,477 |
Security | Par (000) | Value | ||||||||||
Oil, Gas & Consumable Fuels — 0.6% | ||||||||||||
California Resources Corp., Second Out Term Loan, 0.00%, 12/31/21(b)(d)(k) | USD | 2,002 | $ | 38,377 | ||||||||
Chesapeake Energy Corp., 2019 Last Out Term Loan, (1 mo. LIBOR + 8.00%), 9.00%, 06/24/24(a)(b)(d) | 315 | 214,471 | ||||||||||
Edgewater Generation LLC, Term Loan, (1 mo. LIBOR + 3.75%), 3.90%, 12/13/25 | 1,741 | 1,682,992 | ||||||||||
EG Group Ltd., 2018 USD Term Loan B, (3 mo. LIBOR + 4.00%), 4.22%, 02/07/25 | 722 | 705,829 | ||||||||||
McDermott Technology Americas, Inc. | ||||||||||||
2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 3.15%, 06/30/24(a) | 46 | 39,580 | ||||||||||
2020 Take Back Term Loan, (1 mo. LIBOR + 4.00%), 4.15%, 06/30/25 | 320 | 238,913 | ||||||||||
|
| |||||||||||
2,920,162 | ||||||||||||
Personal Products — 0.8% | ||||||||||||
Sunshine Luxembourg VII Sarl, USD Term Loan B1, (6 mo. LIBOR + 4.25%, 1.00% Floor), 5.32%, 09/25/26 | 4,276 | 4,247,275 | ||||||||||
|
| |||||||||||
Pharmaceuticals — 3.3% | ||||||||||||
Amneal Pharmaceuticals LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.50%), 3.69%, 05/04/25 | 2,287 | 2,150,012 | ||||||||||
Catalent Pharma Solutions, Inc., Term Loan B2, (1 mo. LIBOR + 2.25%, 1.00% Floor), 3.25%, 05/18/26 | 2,335 | 2,320,370 | ||||||||||
Elanco Animal Health, Inc., Term Loan B, (1 mo. LIBOR + 1.75%), 1.91%, 08/01/27 | 944 | 916,136 | ||||||||||
Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B, (1 Week LIBOR + 2.00%), 2.10%, 11/15/27 | 1,890 | 1,848,531 | ||||||||||
Jaguar Holding Co. II, 2018 Term Loan, (1 mo. LIBOR + 2.50%, 1.00% Floor), 3.50%, 08/18/22 | 3,789 | 3,771,567 | ||||||||||
Valeant Pharmaceuticals International, Inc., 2018 Term Loan B, (1 mo. LIBOR + 3.00%), 3.15%, 06/02/25 | 6,605 | 6,466,107 | ||||||||||
|
| |||||||||||
17,472,723 | ||||||||||||
Professional Services — 1.4% | ||||||||||||
Dun & Bradstreet Corp., Term Loan, (1 mo. LIBOR + 3.75%), 3.89%, 02/06/26 | 5,836 | 5,768,831 | ||||||||||
STG-Fairway Holdings LLC, Term Loan B, (3 mo. LIBOR + 3.25%), 3.47%, 01/31/27(a) | 1,450 | 1,417,732 | ||||||||||
|
| |||||||||||
7,186,563 | ||||||||||||
Real Estate Management & Development — 0.6% | ||||||||||||
CityCenter Holdings LLC, 2017 Term Loan B, (1 mo. LIBOR + 2.25%), 3.00%, 04/18/24 | 2,028 | 1,942,421 | ||||||||||
Cushman & Wakefield U.S. Borrower LLC, 2020 Term Loan B, (1 mo. LIBOR + 2.75%), 2.90%, 08/21/25 | 1,314 | 1,264,410 | ||||||||||
Realogy Corp., 2018 Term Loan B, (1 mo. LIBOR + 2.25%), 3.00%, 02/08/25 | 180 | 172,221 | ||||||||||
|
| |||||||||||
3,379,052 | ||||||||||||
Road & Rail — 1.7% | ||||||||||||
Lineage Logistics Holdings LLC, 2018 Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 02/27/25 | 4,638 | 4,566,994 |
16 |
|
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Road & Rail (continued) | ||||||||||||
Moda Ingleside Energy Center LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.40%, 09/25/25 | USD | 871 | $ | 856,227 | ||||||||
Road Infrastructure Investment LLC, 2016 1st Lien Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 06/13/23 | 2,503 | 2,269,165 | ||||||||||
SIRVA Worldwide, Inc., 2018 1st Lien Term Loan, (3 mo. LIBOR + 5.50%), 5.65%, 08/04/25 | 1,410 | 1,166,970 | ||||||||||
|
| |||||||||||
8,859,356 | ||||||||||||
Semiconductors & Semiconductor Equipment — 0.2% | ||||||||||||
Microchip Technology, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.00%), 2.15%, 05/29/25(a) | 928 | 923,596 | ||||||||||
ON Semiconductor Corp., 2019 Term Loan B, (1 mo. LIBOR + 2.00%), 2.15%, 09/19/26 | — | (l) | 31 | |||||||||
|
| |||||||||||
923,627 | ||||||||||||
Software — 17.1% | ||||||||||||
Applied Systems, Inc. | ||||||||||||
2017 1st Lien Term Loan, (3 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 09/19/24 | 3,580 | 3,554,094 | ||||||||||
2017 2nd Lien Term Loan, (3 mo. LIBOR + 7.00%, 1.00% Floor), 8.00%, 09/19/25 | 764 | 772,210 | ||||||||||
BMC Software Finance, Inc., 2018 USD Term Loan B, (1 mo. LIBOR + 4.25%), 4.40%, 10/02/25 | 2,320 | 2,246,414 | ||||||||||
By Crown Parent LLC, Term Loan B1, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 01/31/26 | 2,007 | 1,979,742 | ||||||||||
Castle US Holding Corp., USD Term Loan B, (3 mo. LIBOR + 3.75%), 3.97%, 01/31/27 | 2,553 | 2,448,837 | ||||||||||
Cornerstone OnDemand, Inc., Term Loan B, (1 mo. LIBOR + 4.25%), 4.41%, 04/22/27 | 1,061 | 1,058,125 | ||||||||||
Cypress Intermediate Holdings III, Inc., 2017 1st Lien Term Loan, (1 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 04/29/24 | 1,349 | 1,337,807 | ||||||||||
Digicel International Finance Ltd., 2017 Term Loan B, (6 mo. LIBOR + 3.25%), 3.80%, 05/27/24 | 338 | 295,870 | ||||||||||
DTI Holdco, Inc., 2018 Term Loan B, (3 mo. LIBOR + 4.75%, 1.00% Floor), 5.75%, 09/29/23 | 1,081 | 941,086 | ||||||||||
Epicor Software Corp. | ||||||||||||
2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 8.75%, 07/31/28 | 1,886 | 1,933,150 | ||||||||||
2020 Term Loan, (1 mo. LIBOR + 4.25%, 1.00% Floor), 5.25%, 07/31/27 | 4,246 | 4,235,848 | ||||||||||
Financial & Risk US Holdings, Inc. | ||||||||||||
2018 EUR Term Loan, (EURIBOR + 3.25%), 3.25%, 10/01/25 | EUR | 954 | 1,103,058 | |||||||||
2018 USD Term Loan, (1 mo. LIBOR + 3.25%), 3.40%, 10/01/25 | USD | 8,977 | 8,879,607 | |||||||||
Informatica LLC | ||||||||||||
2020 USD 2nd Lien Term Loan, (Fixed + 7.13%), 7.13%, 02/25/25 | 1,914 | 1,941,121 | ||||||||||
2020 USD Term Loan B, (1 mo. LIBOR + 3.25%), 3.40%, 02/25/27 | 7,843 | 7,660,084 | ||||||||||
McAfee LLC, 2018 USD Term Loan B, (1 mo. LIBOR + 3.75%), 3.90%, 09/30/24 | 3,478 | 3,448,820 |
Security | Par (000) | Value | ||||||||||
Software (continued) | ||||||||||||
MED ParentCo LP, 2020 Incremental Term Loan B, (1 mo. LIBOR + 6.25%, 1.00% Floor), 7.25%, 08/31/26(a) | USD | 772 | $ | 760,420 | ||||||||
Mitchell International, Inc. | ||||||||||||
2017 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.40%, 11/29/24 | 2,500 | 2,384,336 | ||||||||||
2017 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.40%, 12/01/25 | 887 | 838,343 | ||||||||||
2020 Add-On Term Loan, (1 mo. LIBOR + 4.25%), 4.75%, 12/01/24 | 1,840 | 1,802,059 | ||||||||||
Netsmart Technologies, Inc., 2020 Term Loan B, 09/22/27(k) | 1,307 | 1,300,792 | ||||||||||
Omnitracs, Inc., 2020 2nd Lien Term Loan, 09/10/28(k) | 953 | 937,514 | ||||||||||
Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 3.40%, 05/30/25 | 591 | 568,720 | ||||||||||
Severin Acquisition LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 3.41%, 08/01/25 | 3,339 | 3,235,183 | ||||||||||
SolarWinds Holdings, Inc., 2018 Term Loan B, (1 mo. LIBOR + 2.75%), 2.90%, 02/05/24 | 2,134 | 2,090,545 | ||||||||||
Solera LLC, USD Term Loan B, (2 mo. LIBOR + 2.75%), 2.94%, 03/03/23 | 3,168 | 3,098,940 | ||||||||||
Sophia LP, 2017 Term Loan B, (1 mo. LIBOR + 3.25%, 1.00% Floor), 4.25%, 09/30/22 | 4,694 | 4,669,718 | ||||||||||
SS&C Technologies Holdings Europe Sarl, 2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 1.90%, 04/16/25 | 405 | 391,095 | ||||||||||
SS&C Technologies, Inc. | ||||||||||||
2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 1.90%, 04/16/25 | 576 | 557,037 | ||||||||||
2018 Term Loan B5, (1 mo. LIBOR + 1.75%), 1.90%, 04/16/25 | 1,753 | 1,695,877 | ||||||||||
Tempo Acquisition LLC, 2020 Extended Term Loan, (1 mo. LIBOR + 3.25%), 3.75%, 11/02/26 | 5,523 | 5,348,840 | ||||||||||
Tibco Software Inc., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%), 7.40%, 03/04/28 | 3,674 | 3,581,974 | ||||||||||
Ultimate Software Group, Inc. | ||||||||||||
2020 2nd Lien Incremental Term Loan, (3 mo. LIBOR + 6.75%), 7.50%, 05/03/27 | 1,767 | 1,796,456 | ||||||||||
2020 Incremental Term Loan B, (3 mo. LIBOR + 4.00%), 4.75%, 05/03/26 | 5,439 | 5,419,311 | ||||||||||
Term Loan B, (1 mo. LIBOR + 3.75%), 3.90%, 05/03/26 | 5,171 | 5,120,535 | ||||||||||
|
| |||||||||||
89,433,568 | ||||||||||||
Specialty Retail — 2.2% | ||||||||||||
Belron Finance US LLC | ||||||||||||
2018 Term Loan B, (3 mo. LIBOR + 2.50%), 2.75%, 11/13/25 | 2,013 | 1,982,945 | ||||||||||
2019 USD Term Loan B, (3 mo. LIBOR + 2.50%), 2.77%, 11/13/25 | 1,154 | 1,138,406 | ||||||||||
USD Term Loan B, (3 mo. LIBOR + 2.50%), 2.74%, 11/07/24 | 1,446 | 1,424,532 | ||||||||||
MED ParentCo LP | ||||||||||||
1st Lien Delayed Draw Term Loan, (1 mo. LIBOR + 4.25%), 4.40%, 08/31/26 | 264 | 250,127 | ||||||||||
1st Lien Term Loan, (1 mo. LIBOR + 4.25%), 4.40%, 08/31/26 | 1,503 | 1,425,581 |
S C H E D U L E O F I N V E S T M E N T S | 17 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||||||
Specialty Retail (continued) | ||||||||||||
Midas Intermediate Holdco II LLC, Incremental Term Loan B, (3 mo. LIBOR + 2.75%, 1.00% Floor), 3.75%, 08/18/21 | USD | 1,406 | $ | 1,310,240 | ||||||||
PetSmart, Inc., Consenting Term Loan, (3 mo. LIBOR + 3.50%, 1.00% Floor), 4.50%, 03/11/22 | 2,935 | 2,925,554 | ||||||||||
Research Now Group, Inc., 2017 1st Lien Term Loan, (6 mo. LIBOR + 5.50%, 1.00% Floor), 6.50%, 12/20/24 | 1,148 | 1,083,861 | ||||||||||
|
| |||||||||||
11,541,246 | ||||||||||||
Technology Hardware, Storage & Peripherals — 0.6% | ||||||||||||
Electronics for Imaging, Inc., Term Loan, (1 mo. LIBOR + 5.00%), 5.15%, 07/23/26 | 1,616 | 1,302,998 | ||||||||||
Western Digital Corp., 2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 1.91%, 04/29/23 | 1,900 | 1,881,629 | ||||||||||
|
| |||||||||||
3,184,627 | ||||||||||||
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 | 2,946 | 2,896,937 | ||||||||||
|
| |||||||||||
Trading Companies & Distributors — 0.7% | ||||||||||||
HD Supply, Inc., Term Loan B5, (1 mo. LIBOR + 1.75%), 1.90%, 10/17/23 | 3,757 | 3,741,890 | ||||||||||
|
| |||||||||||
Utilities — 0.4% | ||||||||||||
ExGen Renewables IV LLC, Term Loan B, (3 mo. LIBOR + 3.00%, 1.00% Floor), 4.00%, 11/28/24 | 2,266 | 2,259,816 | ||||||||||
|
| |||||||||||
Wireless Telecommunication Services — 2.7% | ||||||||||||
Ligado Networks LLC, PIK Exit Term Loan, (1 mo. LIBOR + 11.75%), 8.50%, 12/07/20(b)(d) | 205 | 187,174 | ||||||||||
SBA Senior Finance II LLC, 2018 Term Loan B, (1 mo. LIBOR + 1.75%), 1.90%, 04/11/25 | 3,378 | 3,286,672 | ||||||||||
T-Mobile USA, Inc., 2020 Term Loan, (1 mo. LIBOR + 3.00%), 3.15%, 04/01/27 | 7,177 | 7,166,104 | ||||||||||
Xplornet Communications, Inc., 2020 Term Loan B, (1 mo. LIBOR + 4.75%), | 3,364 | 3,294,213 | ||||||||||
|
| |||||||||||
13,934,163 | ||||||||||||
|
| |||||||||||
Total Floating Rate Loan Interests — 120.9% |
| 631,730,249 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
Investment Companies | ||||||||||||
Equity Funds — 0.0% | ||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 4,875 | 205,091 | ||||||||||
|
| |||||||||||
Fixed Income Funds — 2.3% | ||||||||||||
Invesco Senior Loan ETF | 60,000 | 1,304,400 |
Security | Shares | Value | ||||||||||
Fixed Income Funds (continued) | ||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF(m) | 62,000 | $ | 5,201,800 | |||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF(m) | 39,000 | 5,253,690 | ||||||||||
|
| |||||||||||
11,759,890 | ||||||||||||
|
| |||||||||||
Total Investment Companies — 2.3% |
| 11,964,981 | ||||||||||
|
| |||||||||||
Benefical Interest (000) | ||||||||||||
Other Interests(n) | ||||||||||||
IT Services(a)(b) — 0.0% | ||||||||||||
Millennium Corp | USD | 1,156 | — | |||||||||
Millennium Lender Claims | 1,084 | — | ||||||||||
|
| |||||||||||
Total Other Interests — 0.0% | — | |||||||||||
|
| |||||||||||
Par (000) | ||||||||||||
Preferred Securities | ||||||||||||
Capital Trusts — 1.1%(g) | ||||||||||||
Automobiles — 0.0% | ||||||||||||
General Motors Financial Co., Inc., Series C, 5.70%(h) | USD | 50 | 50,188 | |||||||||
|
| |||||||||||
Banks — 0.2% | ||||||||||||
Bankia SA, 6.38%(h) | EUR | 200 | 239,534 | |||||||||
HBOS Capital Funding LP, 6.85% | USD | 200 | 203,000 | |||||||||
Wells Fargo & Co., Series U, 5.88%(h) | 670 | 721,330 | ||||||||||
|
| |||||||||||
1,163,864 | ||||||||||||
Diversified Financial Services(h) — 0.9% | ||||||||||||
Banco Santander SA, 4.38% | EUR | 200 | 211,627 | |||||||||
Bank of America Corp. | ||||||||||||
Series AA, 6.10% | USD | 657 | 715,217 | |||||||||
Series DD, 6.30% | 55 | 62,156 | ||||||||||
Series X, 6.25% | 350 | 373,975 | ||||||||||
Series Z, 6.50% | 232 | 257,868 | ||||||||||
BNP Paribas SA, 4.50%(c) | 200 | 191,750 | ||||||||||
HSBC Holdings PLC, 6.00% | 600 | 615,000 | ||||||||||
JPMorgan Chase & Co. | ||||||||||||
Series FF, 5.00% | 765 | 763,681 | ||||||||||
Series HH, 4.60% | 166 | 162,680 | ||||||||||
Series I, 3.74% | 52 | 49,861 | ||||||||||
Series V, 3.55% | 780 | 721,656 | ||||||||||
Natwest Group PLC, 8.63% | 246 | 252,150 | ||||||||||
|
| |||||||||||
4,377,621 | ||||||||||||
|
| |||||||||||
Total Capital Trusts — 1.1% | 5,591,673 | |||||||||||
|
|
18 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Preferred Stocks — 0.1% | ||||||||
Capital Markets — 0.1% | ||||||||
Goldman Sachs Group, Inc., | 13,550 | $ | 359,210 | |||||
|
| |||||||
Total Preferred Securities — 1.2% |
| 5,950,883 | ||||||
|
| |||||||
Warrants | ||||||||
Metals & Mining — 0.0% | ||||||||
AFGlobal Corp. (Expires 12/20/20)(a) | 5,283 | — | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 0.0% | ||||||||
SM Energy Co. (Expires 06/30/23)(b) | 11,411 | 18,029 | ||||||
|
| |||||||
Transportation Infrastructure — 0.0% | ||||||||
Turbo Cayman Ltd. (Strike Price $0.01)(a) | 1 | — | ||||||
|
| |||||||
Total Warrants — 0.0% |
| 18,029 | ||||||
|
| |||||||
Total Long-Term Investments — 146.4% |
| 764,804,694 | ||||||
|
| |||||||
Short-Term Securities | ||||||||
Money Market Funds — 0.1% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.02%(m)(o) | 854,939 | 854,939 | ||||||
|
| |||||||
Total Short-Term Securities — 0.1% |
| 854,939 | ||||||
|
| |||||||
Total Investments — 146.5% |
| 765,659,633 | ||||||
Liabilities in Excess of Other Assets — (46.5)% |
| (243,170,388 | ) | |||||
|
| |||||||
Net Assets — 100.0% | $ | 522,489,245 | ||||||
|
|
(a) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(b) | Non-income producing security. |
(c) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(d) | Issuer filed for bankruptcy and/or is in default. |
(e) | Variable rate security. Rate shown is the rate in effect as of period end. |
(f) | 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. |
(g) | Perpetual security with no stated maturity date. |
(h) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(i) | When-issued security. |
(j) | Convertible security. |
(k) | 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. |
(l) | Amount is less than 500. |
(m) | Affiliate of the Fund. |
(n) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
(o) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended September 30, 2020, for purposes of
Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 12/31/19 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in (Depreciation) | Value at 09/30/20 | Shares Held at 09/30/20 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | — | $ | 854,939 | (a) | $ | — | $ | — | $ | — | $ | 854,939 | 854,939 | $ | 8,812 | $ | — | ||||||||||||||||||
iShares iBoxx $ High Yield Corporate Bond ETF | — | 12,869,137 | (7,884,095 | ) | 65,135 | 151,623 | 5,201,800 | 62,000 | 163,005 | — | ||||||||||||||||||||||||||
iShares iBoxx $ Investment Grade Corporate Bond ETF | — | 5,057,376 | — | — | 196,314 | 5,253,690 | 39,000 | 57,293 | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 65,135 | $ | 347,937 | $ | 11,310,429 | $ | 229,110 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.
S C H��E D U L E O F I N V E S T M E N T S | 19 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) |
Derivative Financial Instruments Outstanding as of Period End
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
EUR | 1,401,000 | USD | 1,642,433 | Bank of America N.A. | 10/05/20 | $ | 272 | |||||||||||||
EUR | 1,134,000 | USD | 1,327,914 | UBS AG | 10/05/20 | 1,727 | ||||||||||||||
GBP | 73,000 | USD | 93,875 | Bank of America N.A. | 10/05/20 | 321 | ||||||||||||||
GBP | 1,485,000 | USD | 1,908,077 | HSBC Bank PLC. | 10/05/20 | 8,117 | ||||||||||||||
USD | 21,382 | EUR | 18,000 | Bank of America N.A. | 10/05/20 | 276 | ||||||||||||||
USD | 120,372 | EUR | 102,000 | Bank of America N.A. | 10/05/20 | 774 | ||||||||||||||
USD | 3,097,401 | EUR | 2,588,000 | BNP Paribas S.A. | 10/05/20 | 62,913 | ||||||||||||||
USD | 117,286 | EUR | 99,000 | Morgan Stanley & Co. International PLC | 10/05/20 | 1,206 | ||||||||||||||
USD | 2,737,074 | EUR | 2,289,000 | UBS AG | 10/05/20 | 53,170 | ||||||||||||||
USD | 101,157 | GBP | 76,000 | Morgan Stanley & Co. International PLC | 10/05/20 | 3,090 | ||||||||||||||
USD | 1,982,015 | GBP | 1,489,000 | State Street Bank and Trust Co. | 10/05/20 | 60,660 | ||||||||||||||
USD | 1,331,685 | EUR | 1,134,000 | Goldman Sachs International | 11/04/20 | 1,221 | ||||||||||||||
USD | 1,645,229 | EUR | 1,401,000 | Goldman Sachs International | 11/04/20 | 1,508 | ||||||||||||||
|
| |||||||||||||||||||
195,255 | ||||||||||||||||||||
|
| |||||||||||||||||||
EUR | 1,134,000 | USD | 1,330,862 | Goldman Sachs International | 10/05/20 | (1,222 | ) | |||||||||||||
EUR | 1,401,000 | USD | 1,644,214 | Goldman Sachs International | 10/05/20 | (1,509 | ) | |||||||||||||
USD | 1,643,451 | EUR | 1,401,000 | Bank of America N.A. | 11/04/20 | (270 | ) | |||||||||||||
USD | 1,328,736 | EUR | 1,134,000 | UBS AG | 11/04/20 | (1,728 | ) | |||||||||||||
USD | 93,890 | GBP | 73,000 | Bank of America N.A. | 11/04/20 | (322 | ) | |||||||||||||
USD | 1,908,378 | GBP | 1,485,000 | HSBC Bank PLC. | 11/04/20 | (8,119 | ) | |||||||||||||
|
| |||||||||||||||||||
(13,170 | ) | |||||||||||||||||||
|
| |||||||||||||||||||
$ | 182,085 | |||||||||||||||||||
|
|
OTC Credit Default Swaps — Sell Protection
Reference Obligation/Index | Financing Rate Received by the Fund | Payment Frequency | Counterparty | Termination Date | Credit Rating(a) | Notional Amount (000)(b) | Value | Upfront Premium Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||||||||||||
Casino Guichard Perrachon SA | 1.00 | % | Quarterly | Bank of America N.A. | 06/20/23 | B | EUR | 9 | $ | (2,342 | ) | $ | (836 | ) | $ | (1,506 | ) | |||||||||||||||||||||||||||
Casino Guichard Perrachon SA | 1.00 | Quarterly | Barclays Bank PLC | 06/20/23 | B | EUR | 6 | (1,466 | ) | (429 | ) | (1,037 | ) | |||||||||||||||||||||||||||||||
Casino Guichard Perrachon SA | 1.00 | Quarterly | Citibank N.A. | 06/20/23 | B | EUR | 9 | (2,295 | ) | (750 | ) | (1,545 | ) | |||||||||||||||||||||||||||||||
Casino Guichard Perrachon SA | 1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/23 | B | EUR | 10 | (2,532 | ) | (590 | ) | (1,942 | ) | |||||||||||||||||||||||||||||||
Casino Guichard Perrachon SA | 1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/23 | B | EUR | 5 | (1,378 | ) | (421 | ) | (957 | ) | |||||||||||||||||||||||||||||||
Casino Guichard Perrachon SA | 1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/23 | B | EUR | 9 | (2,297 | ) | (750 | ) | (1,547 | ) | |||||||||||||||||||||||||||||||
Casino Guichard Perrachon SA | 1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/23 | B | EUR | 4 | (919 | ) | (281 | ) | (638 | ) | |||||||||||||||||||||||||||||||
CenturyLink, Inc. | 1.00 | Quarterly | Barclays Bank PLC | 12/20/23 | NR | USD | 170 | (6,651 | ) | (8,649 | ) | 1,998 | ||||||||||||||||||||||||||||||||
Garfunkelux Holdco 2 SA | 5.00 | Quarterly | Credit Suisse International | 12/20/24 | B- | EUR | 10 | (1,715 | ) | (113 | ) | (1,602 | ) | |||||||||||||||||||||||||||||||
CenturyLink, Inc. | 1.00 | Quarterly | Barclays Bank PLC | 06/20/25 | NR | USD | 185 | (17,389 | ) | (23,926 | ) | 6,537 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||||||||||||||
$ | (38,984 | ) | $ | (36,745 | ) | $ | (2,239 | ) | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
(a) | Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings. |
(b) | The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement. |
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 Fund has the ability to access |
• | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs) |
20 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) |
Fair Value Hierarchy as of Period End (continued)
• | 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 Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy. The breakdown of the Fund’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 | ||||||||||||||||
Asset-Backed Securities | $ | — | $ | 122,014 | $ | — | $ | 122,014 | ||||||||
Common Stocks | ||||||||||||||||
Diversified Financial Services | — | — | 10,753 | 10,753 | ||||||||||||
Energy Equipment & Services | 339,559 | — | 31,416 | 370,975 | ||||||||||||
Health Care Management Services | — | 11 | — | 11 | ||||||||||||
Media | 317 | — | 4 | 321 | ||||||||||||
Metals & Mining | — | 27,456 | 58,304 | 85,760 | ||||||||||||
Semiconductors & Semiconductor Equipment | 24,967 | — | — | 24,967 | ||||||||||||
Software | 608 | — | — | 608 | ||||||||||||
Specialty Retail | — | 62,756 | — | 62,756 | ||||||||||||
Corporate Bonds | — | 114,071,962 | 390,425 | 114,462,387 | ||||||||||||
Floating Rate Loan Interests | — | 618,237,120 | 13,493,129 | 631,730,249 | ||||||||||||
Investment Companies | 11,964,981 | — | — | 11,964,981 | ||||||||||||
Other Interests | — | — | — | — | ||||||||||||
Preferred Securities | ||||||||||||||||
Capital Trusts | — | 5,591,673 | — | 5,591,673 | ||||||||||||
Preferred Stocks | 359,210 | — | — | 359,210 | ||||||||||||
Warrants | — | 18,029 | — | 18,029 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 854,939 | — | — | 854,939 | ||||||||||||
Unfunded Floating Rate Loan Interests(a) | — | 1,539 | — | 1,539 | ||||||||||||
Liabilities | ||||||||||||||||
Unfunded Floating Rate Loan Interests(a) | — | (27,984 | ) | — | (27,984 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 13,544,581 | $ | 738,104,576 | $ | 13,984,031 | $ | 765,633,188 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(b) | ||||||||||||||||
Assets | ||||||||||||||||
Credit Contracts | $ | — | $ | 8,535 | $ | — | $ | 8,535 | ||||||||
Foreign Currency Exchange Contracts | — | 195,255 | — | 195,255 | ||||||||||||
Liabilities | ||||||||||||||||
Credit Contracts | — | (10,774 | ) | — | (10,774 | ) | ||||||||||
Foreign Currency Exchange Contracts | — | (13,170 | ) | — | (13,170 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | — | $ | 179,846 | $ | — | $ | 179,846 | |||||||||
|
|
|
|
|
|
|
|
(a) | Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment. |
(b) | 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. |
S C H E D U L E O F I N V E S T M E N T S | 21 |
Schedule of Investments (unaudited) (continued) September 30, 2020 | BlackRock Debt Strategies Fund, Inc. (DSU) |
A reconciliation of Level 3 financial instruments is presented when the Fund 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, 2019 | $ | 763,992 | $ | 2 | $ | 30,343,623 | $ | — | (a) | $ | — | (a) | $ | 31,107,617 | ||||||||||
Transfers into Level 3(b) | — | — | 5,440,267 | — | — | 5,440,267 | ||||||||||||||||||
Transfers out of Level 3(c) | — | — | (20,778,835 | ) | — | — | (20,778,835 | ) | ||||||||||||||||
Accrued discounts/premiums | — | 7,030 | 16,081 | — | — | 23,111 | ||||||||||||||||||
Net realized gain (loss) | 2,512 | — | (602,395 | ) | — | — | (599,883 | ) | ||||||||||||||||
Net change in unrealized appreciation (depreciation)(d) | (674,300 | ) | (7,800 | ) | (495,637 | ) | — | — | (1,177,737 | ) | ||||||||||||||
Purchases | 10,785 | 391,193 | 10,629,762 | — | — | 11,031,740 | ||||||||||||||||||
Sales | (2,512 | ) | — | (11,059,737 | ) | — | — | (11,062,249 | ) | |||||||||||||||
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Closing Balance, as of September 30, 2020 | $ | 100,477 | $ | 390,425 | $ | 13,493,129 | $ | — | (a) | $ | — | (a) | $ | 13,984,031 | ||||||||||
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Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2020(d) | $ | (674,300 | ) | $ | (7,800 | ) | $ | (417,905 | ) | $ | — | $ | — | $ | (1,100,005 | ) | ||||||||
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(a) | Rounds to less than $1 |
(b) | As of December 31, 2019, the Fund used observable inputs in determining the value of certain investments. As of September��30, 2020, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy. |
(c) | As of December 31, 2019, the Fund used significant unobservable inputs in determining the value of certain investments. As of September 30, 2020, the Fund used observable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy. |
(d) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2020 is generally due to investments no longer held or categorized as Level 3 at period end. |
The Fund’s financial instruments that are categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 financial instruments.
Currency Abbreviation | ||
EUR | Euro | |
GBP | British Pound | |
USD | United States Dollar | |
Portfolio Abbreviation | ||
DAC | Designated Activity Company | |
DIP | Debtor-In-Possession | |
ETF | Exchange-Traded Fund | |
EURIBOR | Euro Interbank Offered Rate | |
LIBOR | London Interbank Offered Rate | |
MSCI | Morgan Stanley Capital International | |
MTN | Medium-Term Note | |
PIK | Payment-in-Kind | |
REIT | Real Estate Investment Trust | |
S&P | Standard & Poor’s | |
SCA | Svenska Celluosa Aktiebolaget | |
SPDR | Standard & Poor’s Depository Receipt |
22 |